Buying a business - at end of my tether!

[lady R]

Hi all

Need advice before I kill someone!

I rent a room in a sunbed shop and 3 months ago the woman who owns it decided she wanted to sell if I wanted it. Of course I jumped at it!

Well we've agreed a price and I asked her for the books. A month later atr much asking she said her accountant was being very slow and she'd asked a friend (who's an accountant) to look over them instead.

Another month goes by and I keep getting "oh she's doing them. they'll be ready soon"

So 3rd month and I have got my landline chip and pin machine, organised extra sessions at pre school and holiday childminder services for my son, Organised some staff and I say to her again that I really need the books for the end of this week so I can take them to the bank manager next week. Will they be ready by end of week? "Yeah should be"

In last night and again she keeps saying she wants to sell, I keep saying give me the books.

I don't want to push her and those who know my blog( Forest stories) know what she's like but this is getting ridiculous. If i push her too hard she change her mind but I have had enough!!!!

What can I do? :cry::smack:

 

[jes]

Hi,

Remember it's, definitely, a buyers market at the moment and not a sellers, so keep applying regular but polite pressure. Just be careful she's not hanging on till the sunbed season has finished, now is the time you want to take over a sunbed salon and not in November or something!

You will need to keep calm and be patient though, it took my solicitor 6 months just to get the lease agreed before I took over my salon

Jes

 

[TIRNAK]

Maybe the salon is in financial difficulties and thats why she is stalling to give you the books. When and if you get the books go through them with a fine tooth comb.
I know its hard to do but dont get swept away with having a salon (easier said than done, I know) but look at it financially first and foremost.

Good Luck x

 

[Poshfloss]

Hi Hun,
Be very careful. I agree check the accounts carefully, get someone to look over them for you. She could be cooking those books on a low burner.
Try not to be in such a hurry.......the seller will love that, it will just bump the price up for you.
She may indeed be trying to get the best out of the sun beds before a handover to you.
Watch out so you don't get burned.
Best wishes and lots of luck with you new venture, when ever it happens.
Lotsa luv x :hug: :hug: x

 

[Kim Lawless]

It all depends why you want the shop. If it's to continue to build on her current client base, then hell yeah, you want to see what she's making. Otherwise, you might as well just go and buy an empty shop and start out without any goodwill payment.

You can't sell a lease, so whatever price she's asking for is based on what she's taking.

Meditate on it tonight and decide whether to walk away. If she sells to someone else, then they'll probably still rent to you anyway. xxx