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  • #'s to ask for

    when buying an existing grooming business ... what bills/recepits/questions, etc do you ask for? anything that i missed???

    i have compiled this list much through petgroomer.com & from problems to profits.


    Rent
    utilities (water/electric)
    phone
    security system
    internet

    taxes - payroll
    employees - commission rates/hourly rates
    insurance - liability & worker's comp
    licences - dues/fees
    trademarks

    receipts: (this is for equipment that I know they have)
    bank of cages (about 18?)
    kennel dryers (2)
    4 grooming tables
    stand dryer
    hv dryer
    tubs 2
    grooming supplies /office
    computer/printer/fax
    software
    washer/dryer
    any retail purchased (?)

    outstanding bills (?) if any
    veterinary bills
    all leases/contracts
    repairs and maintainence (bldg & equipment)

    Advertising

    client list & history (grooming/dog boarding/cat boarding)
    bank accounts
    supplier list

    Anything else ..........?

  • #2
    Garbage bills?

    What about possible maintainence like floor cleaners or window washers?

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    • #3
      This is a pretty good list but there are more things. Be sure to check Startup Costs Menu at www.petgroomer.com/mainmenus.htm

      However, there is an Excel spreadsheet for this IN GREAT DETAL inside Pet Grooming Business Plan Helper & Sampler, a Grooming Business in a Box product. You make up an entire shopping list for leasehold improvements, even vans, trailers for mobile, down to shampoo, blades and cotton balls, really. Includes licenses, fees and more startup related costs in the Startup Cash Requirement area.

      You note vendor name for the source, cost each, how many you want, it extends it into a line cost and total cost for build out of a commercial, home or dept, or a mobile operation to SBA standards. It also uses those figures by transposing them into a complete set of financials required for loans (balance sheet, cash flow etc)...words cannot describe here...but this is truly PRO level made easy. You don't have to do calculations, you simply fill in the blanks.

      So if this is important to you, it could be worth the purchase.
      Most questions regarding GroomerTALK are answered in the Board Help Talk Forum. Thanks for coming to our community a part of PetGroomer.com https://www.petgroomer.com.

      Comment


      • #4
        Tax records and P/L for the last 3 to 5 years to compare against a client list.

        Run a check for liens and lawsuits against both the shop and owner.

        Check vendor payment history - if it is bad you may have a hard time getting credit with them. Many shops are COD only because of late payments.

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        • #5
          Also, check with employees. I can't tell you HOW MANY groomers who apply at my shop because their paychecks kept bouncing at their former salon.

          Get a list of any improvements done in the last 3 years, get names of contractors and make sure they have been paid. Becuase these people can put a lien for up to 3 years.

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          • #6
            also, do they have any gift certificates outstanding? You would hate to buy the shop and find out they have $1000 in gift certificates that have yet to be cashed.


            If it were me, I WOULD NOT BUY THE BUSINESS, instead I would buy parts.

            Meaning... Buy the client list, Buy the equipment, assume lease. This will hold you harmless for past bills, taxes, etc.

            You will have to get your own business license, tax id, and change the name. But you are safer.

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