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Why we have this service
Buying a business can be a very exciting yet stressful time. At More CA we recognise the need for expert help to prevent your hard-earned money being invested in the wrong place. We help you see through the jargon and make sure you understand exactly what you are getting yourself into.
Key Benefits of having an accountant involved:
Whats is involved?
When you have decided you are interested in buying a business you bring key information to us. This includes the last few years financial reports (often a confidentiality agreement is signed between you and the business owner to obtain these) along with other business related information. From here we are able to see if what you have been told is accurate. Looking into all of these factors can make sure you fully understand the business you are buying.
A local man who was interested in buying a business came to see us as it seemed to be exactly what he was wanting. From the outside it looked like a great purchase as it is in a great location, has great foot traffic and is often packed to the rafters with happy customers.
However, once Andrew dug a little deeper it became apparent that it was not worth as much as was being asked. There were important pieces of information missing and other issues disguised within the numbers. Once these were added into the equation it became very clear that it was not what the purchaser was wanting at all. He also became aware that this business did not fit within his vision and would not have helped him achieve his life and business goals.
What started out as a dream could have easily become a nightmare.
But with a little time, planning and discussion with More CA an unnecessary burden was easily avoided.