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What ongoing role should the previous owner play when I buy his business?

Can I expect to to be able to rely on the previous owner of a business to help with specific issues about his shop as I take over? Can I expect more?

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We are financial consultants to a group of investors whom we have their consent to manage their funds which is in our custody for cooperation in joint venture business investments.

Our areas of interest include Property Development and real estate, Health Care, Education and training, Mining and exploration, Energy, oil and gas,Technology, Software development, Agriculture, Manufacturing, Finance Services and Leisure.However, all viable proposals within reason will be considered.

Funds shall be made available to you as a direct investment loan at 3% interest rate per annual for a period of 2 or 30 years depending on what you prefer. You may contact us if you have interesting investment proposal for possible business collaboration for our study.

We look forward to your reply to enable us provide you with details or you may visit our website.

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Thank you.

Yours Sincerely
Jesse Peterson
phone: (980) 239-7539

Jul 5, 2017
Andrew Cagnetta
Transworld Business Brokers, LLC.
Premium Broker

Carl is correct, but I have bought several businesses in my life, and save one owner, I always wanted to throw the old owners out in two days. So I would take Carl's advice, but always have the option to cut training short if you wish.

Mar 26, 2009
Carl J. Cusano, MBA, CBI
Capital Business Advisors, Inc.
Albany County, NY
Premium Broker

Determining an aqeduate amount of training and transition assistance that the previous owner should be a major consideration for those considering the purchase of an existing business. The amount and nature of training really depends on the type of business. A small retail or service business may only require one to two weeks of training, whereas, a larger or more complex business might require new ownership training for severals weeks or even months.

Mar 26, 2009

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