Question:
What do I do if the asking price for a business for sale is too high?
This question was asked on 31 July 2008
Expert Response
The question of whether the asking price is too high depends on what the business is worth to you?
That is not to suggest that you should pay the vendor a premium for what you intend to do. However, if the asking price is less than what the business is worth to you, the deal is worthwhile - you are ahead.
The key steps in this situation should include:
- consider asking for terms on the sale: would the vendor accept a higher price with some funding from them or time to pay?
- consider a delayed settlement of some components of the purchase (i.e. stock or fixtures)
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