Some of the things to think about when buying a business are the premises and whether you need them to run the business from and therefore talking to the landlord and getting bonds organised and things like that is vital.
Having a good idea of what is necessary from the old business to run the new business, for example, the equipment that is needed, the stock that is in the business, how much of that stock do you want to take over and use in your business if it hasn’t been sold by the vendor by the time you are ready to settle.
Staff- there could be 10 people in the current business, but you might only need 5 of them, so who is going to be responsible for ensuring that their long service leave is paid if they are to be terminated, those sorts of issues.
In summary, that’s essentially what a buyer should be looking at in terms of wanting to buy somebody else’s business.