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Old 04-23-2012, 06:14 PM   #1 (permalink)
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Would love advice re: buying a salon SOS

I have an accepted offer for a tanning salon. We are buying the equipment, computrr system and furnishings. We are not buying the actual business, as in we will be operating under a new name and business license etc. Question : do I need a lawyer to draw up a contract in regards to protect myself for any back sales taxes or pending lawsuits? Or do I just need bills of sale for the equipment, computer, lotions etc since we will be operating under our own name. Also if there are ouystanding packages and I or is she liable to fulfill them? I have a lawyer and a contract amd they are being cheap im retaining a lawyer on their end. I am just wondering if there is an easier avenue to pursue. Any advice greatly appreciated!
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Old 04-23-2012, 10:29 PM   #2 (permalink)
 
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Re: Would love advice re: buying a salon SOS

As I see it you are opening in same building but difference owner and difference name so that mean the previous owner is out of business and the new owner will be in business , that will take you out of picture as to what is owe to any vendor or taxes, or customer , but if want to keep the customer previous you will have to see what you are loseing as to oppose to what your gaining. The idea as to buying a salon already in operation is the customer bank and doing some renovation and maybe some new equipment or better offer, it up to you to take it to another level of business.
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Old 04-23-2012, 10:51 PM   #3 (permalink)
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Re: Would love advice re: buying a salon SOS

Im starting to think thay would be an easier route. I plan on honoring packages for a certain time, as to not lose business. Im just wondering why my lawyer hasnt brought this up as an option. If I were to buy just her equipment and cliet list and live across the city, it would seem I wouldnt be liable for any legal issues she may have currently. Im wondering if my lawyer is just trying to make a profit but turning this into a big contract. Any other input greatly appreciated. Im not buying her business, just her equipment. It just happens to be the same type of business. Any experiences out there?
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Old 04-24-2012, 11:41 AM   #4 (permalink)
 
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Re: Would love advice re: buying a salon SOS

Quote:
Originally Posted by bare View Post
I have an accepted offer for a tanning salon. We are buying the equipment, computer system and furnishings. We are not buying the actual business, as in we will be operating under a new name and business license etc. Question : do I need a lawyer to draw up a contract in regards to protect myself for any back sales taxes or pending lawsuits? Or do I just need bills of sale for the equipment, computer, lotions etc since we will be operating under our own name. Also if there are outstanding packages and I or is she liable to fulfill them? I have a lawyer and a contract and they are being cheap I'm retaining a lawyer on their end. I am just wondering if there is an easier avenue to pursue. Any advice greatly appreciated!
Just make sure there are no liens on the equipment. Other than that you have no liability. Find the previous owner and get the client list and any information regarding packages or tanning owed. do a mailer informing tanners you are honoring all previous packages.
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