Buying a business - not sure where to get advice?

[wangle99]

Ok, story is...

My mother is managing a shop that isn't doing very well. At the moment it is currently going to close at the end of January. The owners are currently seeking a buyer to sell the shop 'as is'. Rumour has it is going to be sold for approx £10,000. (The premises aren't owned they are leased).

Now.. the people that own this shop don't have a clue and that is why it's doing so badly. In my opinion it could work and could work well.

I don't have £10,000 lying about lol so would need to seek advice and have no idea how/where to go?

Anyone?

I should add that I am interested myself in buying it or the message above makes no sense

If you need to seek finance from a lender (bank etc) you will need to provide a full business plan, detailing how you will improve the business.

Look at the accounts for the shop for the last 3 years to get an idea of what the overheads are and possible pitfalls.

this website may help

The shop hasn't been running 3 years, believe me the person who owns it really doesn't have a clue, I'm sure they woke up one morning and thought 'hey I'll open a shop' lol.

Could write a very good business plan though writing in everything to improve.

Will check out that website.