Good Day Gents
I recently had a call from one of my biggest competitors asking if I would be interested in buying him out?
It is a great opportunity as he has been in the market for 9 years & has a great customer base. He is trading as a sole proprietor.
So what are the risks / pitfalls that come with the purchase of a sole proprietor? What are specific things I need to look for that can possibly work in my favour to negotiate a better deal?
Also how would I go about getting a restraint of trade put against him so that he can't start up after 2 months after the sale?
Any input will be greatly appreciated!!