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Buying a Problematic Business
Gord Doucette
Hello,
I am about ready to buy a business. The seller is of very low morality and in debt. I have made an offer to purchase. I then find out he will be forced out of the store in two weeks. I have withdrawn my offer. Should I honor my first offer or offer a much lower price or wait for him to be kicked out. This is a true story. Thanks, Gord
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Business Question
Thomas Shehu
Before buying any business, you have to read and study the circumstances that lead the owner of the business to sell it. You have to ask questions like:-what made him to sell the business, why is he so indebted, and what is the possibility that if you start the business you will over come the doom days of the seller.? I suggest that you ignore the first offer and wait for him to be kicked out in order to avert any untowards incident that may occur within the period of his ejection. This will also give you more chances to acquire more knowledge about the environment and the needs of the people of the area.
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Business Question
Leodegardo M. Pruna, Professor, Philippines, Member
Hi Gord, I think that you better abort dealing with one in a sinking ship. While you have the good intention of helping it might turn out the other way around with you going down with the sinking ship.
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Problematic Business
Andrew Stern, Analyst, Russian Federation, Member
Thomas Shehu is right! At first you should know the more the better about the business you are buying. More information and advice you can get from the article business-asset.com/eng/establish-or-buy-business.
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