Purchasing a business

[AmithS]

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

[IanF]

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.

[Dave A]

Option 1 is the best way to do it - for both the buyer and the seller's sake!