Buying A Business

[John Van Uytven]

I am looking at the option of buying a business.

Then having my LLC buy the property. Which I would lease back to my operating LLC.

I have mainly found and been looking at Gas Stations.

The idea of owning and operating a restaurant doesn't really interest me.

Anybody have any experience with this?

Gas Station owners pm me if you don't want to post.

What I have found conclusively is that with gasoline you are lucky to break even and then the real income comes from the convenience store purchases.

Looking out for contamination is a big thing.

Any other ideas for owner/operators.

Thanks in advance.

[Josh Caldwell]

I can give you a pretty good argument against buying a business.   The liability of that business comes with it.  For example if that business happens to get sued, then you get that law suit. 

I would look to buy the assets of that business, and create a clear seperation between you and the previous owner.  That little trick has kept me from two legal actions that I know of.  

Luckily for me, my wifes uncle is an accountant and he clued us in.

To your success

Josh