Thinking of buying the business?  It is well-known that buying a business can in many instances offer a lower level of risk, than that compared to starting your own business from the ground up.  That said, there are still many risks when buying a business, and many factors to consider, such as :

Of course, selling a business also requires a certain level of diligence and compliance, including proper and effective disclosures in relation to business names, tenancy or lease agreements, plant and equipment inventory et cetera.

  1. understanding and qualifying the viability of the business;
  2. It is a fair price and how are you going to pay for it?
  3. what business and/or management structure would best suit you ?  (for example, we will operate as a partnership or a trust, as a sole trader or a company:
  4. which of these prospective structures offers you the best tax advantage for the long-term?);
  5. is there a lease and what are the terms?;
  6. are there licensing requirements ?. Staffing? Staffing obligations?
  7. Conditions to help you buy in;
  8. and many more questions which may come to mind.