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Hi Alex,

I agree with Andrew that a proper due diligence is VERY important. You can get a lot more than you bargained for when you buy a business and it is not always a good thing.

Some hidden expenses there may be is things like stamp duties and transfer costs if some assets like vehicles are in the name of the proprietors and not the business, assuming it is a company.

Also, make sure that critical suppliers are willing to do business with you and if there is more than one shareholder that they are all in agreement with selling the business. I was in the unfortunate situation earlier this year where I spent months negotiating the sale, agreements, due diligence etc with one of the equal shareholders only to have the other change her mind at the last moment although she was on-board and supporting the sale throughout before.

Kind regards,