Due diligence
It is very important that you carry our due diligence of the business you are going to invest in. When you buy a business, its not only you invest your financial resources, in fact, you invest your time and emotions as well. You must have heard the unfortunate stories of your friends being lured into buying a business that turned out to be a nightmare. We specialise in providing due diligence services ranging from advice on location of business, lease terms, financial analysis that includes payroll expense on rostered hours, COGS, goodwill. We have assisted many clients and saved them big dollars when negotiating with the vendor. Below is feedback from some of our clients who engaged us for due diligence services.
When me and my husband were thinking of buying the existing Muffin Break at riverside plaza in 2014 we had no idea from where to start. On top of that dealing with franchisor, solicitor, shopping mall management and business broker, it was bit overwhelming. But Navneet made our job easier as he single-handily communicated with all other parties. Not only that he represented us in the price negotiations and saved significant amount of money. His assessment of risks associated of buying a new franchisee model business was spot on. After we bought the business, he advised us how to improve sales and reduce wastages.
I saw an opportunity to acquire one of the fastest growing fast food chain business in one of the prime hospital in the city. When I was given P&L sheet, I forwarded those details to Mr. Navneet Jyoti for his professional advice on business as I have been lodging all my taxes through him for last 5 years.
After going through the details, Navneet advised me not to take the business as there were hidden losses and outgoings which would make the business not profitable. Due to his experience and professional advice, I saved myself from entering into a business where I would have experienced more loss. I found 6 months later that business was sold for $52,000 less than for what it was offered to me.