Results 1 to 3 of 3

Thread: Purchasing a business

  1. #1
    Platinum Member AmithS's Avatar
    Join Date
    Oct 2008
    Location
    South Africa
    Posts
    1,066
    Thanks
    165
    Thanked 58 Times in 54 Posts

    Purchasing a business

    Hi Everyone,

    Some help please.

    What is the norm when buying a business.

    1. Do you purchase the business and transfer to your own cc\pty
    2. Do you purchase 100% membership in the existing cc\pty.

    Also taking into consideration that if you take over the existing cc\pty that their might be legal\debt issues etc... that the cc\pty is liable for but that you could end up in trouble with but also that it has licenses etc... for the operation of the business that you would otherwise have to reapply for under the new cc\pty name.


    Thanks in advance

  2. #2
    Moderator IanF's Avatar
    Join Date
    Dec 2007
    Location
    Jhb
    Posts
    2,631
    Thanks
    192
    Thanked 525 Times in 401 Posts
    Quote Originally Posted by JWalker View Post
    Hi Everyone,

    Some help please.

    What is the norm when buying a business.

    1. Do you purchase the business and transfer to your own cc\pty
    2. Do you purchase 100% membership in the existing cc\pty.

    Also taking into consideration that if you take over the existing cc\pty that their might be legal\debt issues etc... that the cc\pty is liable for but that you could end up in trouble with but also that it has licenses etc... for the operation of the business that you would otherwise have to reapply for under the new cc\pty name.


    Thanks in advance
    First get a good accountant to help you for a transaction like this they are worth it.
    Never buy a small company always buy the business you never know what hidden liabilities there are.
    Only stress when you can change the outcome!

  3. #3
    Site Caretaker Dave A's Avatar
    Join Date
    May 2006
    Location
    Durban, South Africa
    Posts
    21,193
    Thanks
    3,076
    Thanked 2,476 Times in 2,080 Posts
    Blog Entries
    12
    Option 1 is the best way to do it - for both the buyer and the seller's sake!
    The trouble with opportunity is it normally comes dressed up as work.

    Alcocks Electrical Services | Alcocks Pest Control & Entomological Services

Similar Threads

  1. No more business plans please!
    By Vincent in forum Entrepreneurship and Business Management Forum
    Replies: 26
    Last Post: 12-Nov-10, 09:57 AM
  2. [Article] Working from Home - The Online Business Reality
    By David Venter in forum General Business Forum
    Replies: 5
    Last Post: 06-Jul-10, 09:11 AM
  3. Fundamental business principles - Get and keep customers
    By Dave A in forum Entrepreneurship and Business Management Forum
    Replies: 11
    Last Post: 12-Oct-09, 08:20 PM
  4. [Article] Communication: The Key To Business Turnaround
    By Vincent in forum Entrepreneurship and Business Management Forum
    Replies: 0
    Last Post: 26-Apr-08, 04:20 PM

Tags for this Thread

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •