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Old 11 May 2021, 12:24 AM   #1
Chewbacca
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Buying a small services business …

As the title states, any advice when going through due diligence and deal structures?

What did you look more closely for during due diligence? Employees, SDE, leases, etc…

Looking for your own nuggets of wisdom beyond the usual accounting finance and legal items if you bought and it didn’t work out or what was a red flag??? Or what was a bonus you saw but others on your team didn’t???

Any advice would be appreciated.


Thanks in advance.


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Old 11 May 2021, 01:15 AM   #2
TheVTCGuy
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I can’t offer much advice CJ but when do I start? Boss?i
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Old 11 May 2021, 01:46 AM   #3
Chewbacca
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Originally Posted by TheVTCGuy View Post
I can’t offer much advice CJ but when do I start? Boss?i
‘Take me with you’, is now ‘When do I start?’

I like that
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Old 11 May 2021, 02:06 AM   #4
JasoninDenver
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Have your accountant do an independent review of the books and valuation of the business.

If you don't have a trusted accountant, don't do a dang thing.
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Old 11 May 2021, 02:32 AM   #5
Chewbacca
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Quote:
Originally Posted by JasoninDenver View Post
Have your accountant do an independent review of the books and valuation of the business.

If you don't have a trusted accountant, don't do a dang thing.
Loud and clear. Thank you
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Old 11 May 2021, 02:37 AM   #6
Ferdelious
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Are you looking to do an asset or stock purchase? I would recommend asset.
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Why is it, "A penny for your thoughts," but, "you have to put your two cents in?" Somebody's making a penny.
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Old 11 May 2021, 03:00 AM   #7
Chewbacca
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Are you looking to do an asset or stock purchase? I would recommend asset.
Asset.



Even Rolex saw risks in paper certificates.
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Old 11 May 2021, 02:53 PM   #8
Travelair007
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Happy to help offline - drop me a PM!
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Old 12 May 2021, 11:44 PM   #9
Chewbacca
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Happy to help offline - drop me a PM!


Will do later today.


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Old 13 May 2021, 04:10 AM   #10
Computantis
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Originally Posted by JasoninDenver View Post
Have your accountant do an independent review of the books and valuation of the business.

If you don't have a trusted accountant, don't do a dang thing.
I second this. As an accountant, be sure they're knowledgeable and trustworthy. Nothing worse than an sketchy accountant.

They will be able to provide and analyze the financial health of what you're looking at and give you cold facts.

Best of luck and congrats on exploring a new chapter of life!
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