Check it Out! Six Traps to Avoid in Buying a Restaurant Business For Sale

1) BACK LIABILITIES FROM A RESTAURANT BUSINESS FOR SALE:

Many times the bills which a previous owner has not paid to suppliers, tax agencies of the government, contractors, etc. can be "passed on" to the new owner without the new owner realizing. Always contact all past creditors of the current owner as to the status of the account. Review the check registers to get a list of suppliers and repair and maintenance companies who have done business with the current owner.

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