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LucasArthur
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Hi

All advice above is great and what i add is merely confirmation of what most others are advising or are thinking.. And what is that? Well, ultimately you are not really buying a business at all..

In fact, all you are doing is acquiring potentially an old unwanted fit out and a lease that may be more of a burden than a positive for you as a ‘buyer’. No existing clients, no business name, no books, no figures, no existing staff (by the sounds of it), no cash flow, no abn, no website, no email (both of which are more valuable than a phone number in most eyes today) and so forth.

On top of this, and i am being devils advocate here, the owner could set up an opposing business opposite the street, next door or around the corner and take ALL their old clients and you get nothing – absolutely nothing.. and to boot, they have the better looking shop as they have a new fit out (yours now tired i assume?) and a better researched location that gets them more traffic than you do?

Do your research, but overall sounds like a win/lose scenario and you potentially not the winner :(.. Please note, most advice is coming from what others have read which is a very small amount of information to make life changing decisions and advice on, so tread caredfully and do your homework and think about every step.. Put on your own devils hat and ask yourself, whats in it for me? and whats in it for them? every time they ask you something about payment or buying or goods etc etc

Maybe creating your won store may be viable? oh, and whatver you do, check the lease out if you are taking it over so you know length and obligations if you leave.. Can really hurt if you do not know this.

Cheers
Jason

Jason Ramage | Lucas Arthur Pty Ltd | E: [email protected]   P: 61 3 8324 0344    M: 61 412 244 888