Cashflow - Don’t wing it by buying a business without research

A buyer's due diligence should always contain a competitive analysis and inquiry as to new competition that may be moving into the area.  There will always be new competition in any profitable endeavor; however, knowledge and preparation are key.  This gentleman wasn't prepared for a national chain with volume buying power moving in down the street.

"An old friend of the Taskmaster – we’ll call him John – was heading into semi-retirement. He was having trouble finding another full-time job in IT due to age discrimination.

So he decided to use the golden nest egg he’d saved for his retirement to buy a business. He traded his gold nuggets for the deep fried variety by buying a local neighbourhood chicken shop called the “Super Rooster”.

Recently, the Taskmaster decided to visit the store. It was a good opportunity to catch up with an old friend, get a feed and help a local small business owner earn some scratch.

Painted on the solid brick walls, overlooking the rapidly fading ‘70s canary yellow plastic furniture – was a cartoon character that somewhat resembled Foghorn Leghorn."

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Cashflow - Don’t wing it by buying a business without research:

For additional information regarding Florida business sales, acquisitions and valuations, please contact Eric J. Gall at info@buysellflbiz.com or 239.738.6227. Also, visit our Florida Business Exchange website at www.fbxbrokers.com and my personal website at www.buysellflbiz.com.