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Hi Florist08,

I completely agree with Kelly in regards to having a chat with a business broker or even your solicitor.

I think a big red flag for anyone selling a business is when they do not want to show you their books. I was personally in the same position, and I walked away. If you look at the price that they are selling their “business” (fit-out), would you be able to pay for a fit-out done the way you want? Yes, you will be able to get existing customers from the use of the phone number and their location, but there is also a reason that they are wanting to sell their shop, i.e., potentially not enough traffic?

There are a couple of things that you can do with this, either really try and have them agree to show you the numbers. If the numbers aren’t that great, you might even be able to bring the price down (provided you still want to buy). If you are a real fan of the location, then maybe just take advantage of the existing foot traffic they have and open close to them. Odds are highly unlikely for them to sell their business if they don’t show their numbers, so they might end up closing down.

There are numerous things to consider when buying a business. I would definitely recommend having a meeting with a business broker about this; these are the things they deal with every day. However, if they are selling through a broker – do not use their broker! Find your own, as their broker will no doubt be biased.

Good luck!