Upper most on your mind will be buying the right salon (You want oranges, not lemons).
The answer to that dilemma is to ask lots and lots of`questions.
In industry jargon it is called “Due Diligence”. In layman’s language, it means asking lots of questions until you receive the answers to those questions that give you the confidence to sign an offer and make the purchase.
Of course, you will need some advisors to help you in the process, e.g.,
- Your accountant, to make sure the figures make sense.
- Your solicitor, to make sure the shop lease and business contract are appropriate, and to arrange the settlement/handover with the seller’s solicitor.
When everything falls into place, happy days for you.
However, don’t be surprised when you can find this process could take three or four months from start to finish. (After all you are not dropping down to the supermarket for two litres of milk).
Back to the questions –Enter your confidential email below for a Printable Version of the questions you should consider asking the seller. The list is not exhaustive, and you should add your own particular questions as well. Don’t be shy about this matter, no question is too silly if it protects you from buying a salon that is not right for you. You need to be sure you are getting what you want.
Your confidential email is best so your research is private until you want to go public.
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