I have an option to purchase all the hard goods for a business, assume the lease, then form my own business in the same field. Current owner isn’t wanting me to see current daily sales reports, has not field taxes for 2017 (but if I understand this isn’t all that uncommon for small business), and has balked at me inquiring as to weather employe taxes are up to date.
I would be a first time business owner and am trying to sort out if this is as serious of a red flag as it feels. While I don’t doubt that sales are in a slump for various reasons and have no doubt I could change that, I’m trying to get a sense for how the situation is going to go once I’m at the helm.
Since I do feel the price isn’t far off from the inventory cost should I gamble my life savings that I can keep it afloat while I turn it around or should I tell him it’s a no go until I see the data I want?
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