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Thread: Financial savvy IRO petrol service stations.

  1. #1
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    Financial savvy IRO petrol service stations.

    i could do with some help. in fact quite a bit of help especially at 60 when one is looking to put ones small nest egg into a service station. now you get figures bandied about "nett profit such & such" but in my experience figures given by sellers of busineeses are very seldom kosher & one only discovers this once it is too late to pull out. is any service station owner quite savvy with figurework prepared to assist with looking at statements that i have & advising. yes,i do know of due diligence etc.but then you need some expert in that particular can Pm me. all advice welcome.

  2. #2
    Site Caretaker Dave A's Avatar
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    Maybe this might help.

    My tip would be only consider what is presented in writing and is verifiable. Financial statements should tie up with tax returns, bank statements, purchases etc. Given the large cash portion that goes with the territory, do not put any value to... what should I call it... undeclared profits?
    Last edited by Dave A; 16-Jul-10 at 12:13 PM.

  3. Thank given for this post:

    BusFact (16-Jul-10), flaker (16-Jul-10)

  4. #3
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    Great advice Dave. Perhaps ask to see there tax returns for the past few years. They are unlikely to have exaggerated their profits to SARS. If their financial reports differ from their tax returns ... tread with caution.

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