The purchase of a company can be a time of stress. But if you take the time to understand the potential risks and therefore should be avoided as well invested.
This is a collection of more traps monitored.
Why is the sale of the seller?
It is often the first question a buyer and can be very interesting. Illness in the family is a favorite spot, ready to slow down is another, go to the land is good, as the sole desire to do somethingother.
My friend chose a family illness. His widowed father and brother had to take care with terminal cancer and his wife to him, then they needed to move to state.
"Well," I said, "Well, in this case you do not have to compete no problem signing an obligation?"
Trap: there is not an obligation not to compete
Prevents a non-competition agreement that the seller unlike you set up for a certain period. Could, depending on the type of activitysay it is not possible to implement a similar activity within a radius of (say) three miles (5 km) and not for three years.
In a service business or profession of the seller may have to commit themselves to their clients or customers for three years approach, and you should be sure to get a list.
The manufacturer may not be able to create something, if there is an established market in the world for its product range.
Trap: Making Pacts too expensive
TheThe danger is in what they are for punitive measures. I asked if he could not buy or set up another type of GRB activities throughout the country for twenty years, a judge will say, well, it was inappropriate and vice versa.
"I do not see any point that you're gone, something different," he said. I would like, then he got mad and said I was not justifiable, and if that's how I felt that I could simply forget everything!
Trap not know to CenterManagement Plans
I knew he would not sign it. Then I discovered that the mall will be demolished and in a subdivision in ...
Trap: I do not know the true intentions of the seller
... and was as GRBs shopkeepers in the mega-shopping center under construction in the area.
It looks like a thriller, right? But all these traps are not fiction - all based on a true story. And I am sure that itmuch more familiar than many of you. Here are some others that apply to other areas.
Trap: the non-inclusion of the reputation of the seller and aware of the following
Stylists are particularly sensitive to, but it can be for business or professional service in which the owner's personality and skills with clients and customers much used, is important. When Mr. Personality sold to customers, go with him or elsewhere.
II know a male hairdresser, a publication that had sold gay community. When he sold half of the customers are gone. It took months to find the new owner
Trap: The seller is also the owner
If the seller is the owner of the premises, it is very likely that they will not pay the rent at market rate, or no pension. Will then talk to a broker and make the rent figure would show as if you wanted to rentcomparable space in the vicinity.
In addition to that they are willing to conclude a formal treaty, and under what conditions. This should be a condition in the contract for the purchase of the company.
Trap: On the basis of workers' skills and knowledge of existing
Many entrepreneurs rely on key employees to the technical know-how and experience are needed to run the show. Gourmet chef in a top class restaurant is just one example.
If, in the absence of such aAbility to buy companies that you need these people to stay, make yourself very vulnerable.
There is no possible way you can force them to stay. Often compared to both the supplier and that the employees are to ensure the companies, but only to collect sticks, once the purchase is constant. Incentives hidden by the seller sometimes the reason for this, in others they can be friends or relatives.
The correct answer is that you need to make surehave the training and experience in this type of business before a continuation.
No one should buy a business like a restaurant without at least one hospitality training and work for some time in the kitchen. Some associations to manage their own training for new owners. Always with you!
I remember, just because you like good food does not mean that you can run a restaurant!
Trap: Unknown Local AuthorityRequisitions
Any company that processed foods are subject to strict hygiene rules and infestations Pest Control. Check with the local authority to see whether it breaches reported or are overdue. The company could be in danger of being closed.
If you insist that the seller before the solution is corrected.
If a WIWO (Walk in Walk Out) able to deduct the cost of adjusting the purchase price.
Trap:Beware of seasonality
There is a seasonal effect in almost all small businesses. There are companies and businesses was winter and there are Christmas and Easter, Mother's Day, Father's Day, the holiday periods, etc.
Some are obvious, but others are more subtle. If you do not know that the economy may not be aware and be discovered. Naively thought they could end up with more money for a company as a result of a recent run of sales, that it was permanent.
OrPlan may repay a certain amount of revenue to the bank, and everything is quiet when you play.
Providers to sell until the end of the season, but buyers sometimes want to buy. You can make up to their advantage by buying cheaper end of the season, when the owner is desperate to sell. Make sure that the money at the time to take rest.
Concluding remarks
All cases are explained in thishave as their objective to prevent the power. Chances are the company a booby trap, or to see the worst case, only one or two of them. And many of them simply do not do not apply to your company looking for several reasons.
And if you learn something through the use of these techniques, which do not necessarily mean that we must give up the business. Very often you can, what you have to negotiate a better price.
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