Convenience store / milk bar for sale in Maryborough, Other areas

Questions to ask

Questions worth asking before an inspection, based on the seller's figures. It does not judge the business and is not a valuation or advice — rely on the actual records.

• No revenue figure given — ask for POS reports or the last 12 months of BAS before inspecting.
• No net profit given, so the price-to-profit ratio cannot be worked out.
• About 14 years left on the lease — check the lease itself for the term and options.

Questions to ask the seller before you inspect

1. Can you provide the last 12 months of BAS, POS reports and bank statements?
2. The lease itself: term left, options, annual increases and who pays outgoings?
3. Will the landlord consent to the assignment? Is there a bond or bank guarantee to transfer?
4. How are staff wages, contracts and accrued annual leave handled?
5. Is there an equipment list, and is anything leased or under hire purchase?
6. Any unpaid bills, fines, complaints or health-inspection issues?
7. What type of liquor licence is it, can it be transferred, and how long does approval take?

Full due-diligence checklist: Small business handbook (Chinese). Guide price range: Valuation.