Home – New Forums Starting your journey Some Advice Please! Reply To: Some Advice Please!

Dave Gillen – Former FS Concierge
  • Total posts: 2,566

Hi there,

I just want to restate what Kelly said above. Under the current conditions, you’re not buying a business, just a premises. In that case they don’t have to show you their books. BUT it will mean you should be paying them far less than you would for the actual business.

It sounds like they want to continue operating their business (another location or mobile), so want to keep important info from you. For example their books might tell you that 80% of their revenue comes not from passing traffic but from an existing contract that they want to retain. That could leave you opening your store and earning 80% less on day 1.

Is this a lease or are you buying the building? If it’s a lease and they are planning to move out anyway, then maybe you should be dealing with the property owner instead (instead of buying an empty shop that you won’t own anyway)??

Good luck!