leasehold
- Thread starter brighton
- Start date
- Original Poster
- #5
an existing one.. basically tired of working for other people and not getting rewarded so looking at ideas for myself one of which is a bridalwear shop . i have experience in fashion retail management at top end high st and also a small independent boutique... I just dont know where to start other than I can sell!!
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J
Jayne
Right then, when a business is being sold as leasehold, it means you will have a landlord and rent to pay, you are only buying the business bit.
When a business is being sold Freehold, it means you would be buying the building and business (no rent to pay! Possibly a big mortgage instead..lol)
Before you buy a biz, ask for a copy of the draft figures of the books. If you don't understand these, an accountant will be able to look at them for you and explain them to you.
Most of all, take your time and don't rush into anything.
Jayne
When a business is being sold Freehold, it means you would be buying the building and business (no rent to pay! Possibly a big mortgage instead..lol)
Before you buy a biz, ask for a copy of the draft figures of the books. If you don't understand these, an accountant will be able to look at them for you and explain them to you.
Most of all, take your time and don't rush into anything.
Jayne
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0
J
Jayne
When you moved into the business, there would have to be a stock check before you paid for the stock. You only pay for what there is and the people selling the stock would need to provide you with a copy of the stock check and cost of the items.
Your accountant would be able to tell you if it was a good price for the business, that's why I said to get one to look at the draft figures.
The benefits of buying someone elses biz, is that it's already built up for you and bringing in a good proven profit. It would be up to you then, to keep it that way.
Jayne
Your accountant would be able to tell you if it was a good price for the business, that's why I said to get one to look at the draft figures.
The benefits of buying someone elses biz, is that it's already built up for you and bringing in a good proven profit. It would be up to you then, to keep it that way.
Jayne
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0
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