Quote:
Originally Posted by JavaBrewer
I had a similar experience when I was looking into buying a liquor/deli store in Lakeside. This was in the early 90's. The financial "documentation" consisted of the last months total sales number (no breakouts) and expenses related to lease and utilities. Apparently they got the product and employee's for free cause my request for all monthly expenses related to the sales number were met with confused looks. LOL.
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I looked at quite a few businesses before buying the one I did in 1995. It seemed that each one had something to hide. Typically it was a net profit reported without accounting for the fact that half of the owner's family worked in the business for free, or a staff of 10, all of which were being paid as independent contractors.