INDUSTRY TIPS

Many business people get into or grow their businesses by buying one or more existing convenience stores. The horror stories of such acquisitions are legion. One unsuspecting buyer found that no fees were ever paid on the UST's at the convenience store he purchased. The state regulatory authority required him to pay all back fees and penalties, to the tune of over $6,000.00, before they would issue him an UST operating permit, even though he did not own the tanks during the time the fees were not paid. Another buyer bought a location with FRP lined underground storage tanks. He found out one year after the purchase that the 4 USTs were due for their 10 year internal inspection at a cost of $2,500.00 each.

Had either buyer known the facts prior to purchase, they could have negotiated a better price! Before you buy, call Charles Broadfoot & Associates, Inc., and ask us to perform an affordable pre-purchase equipment evaluation. We know what to look for and where to look to uncover any hidden expenditures or problems you may incur after you buy. Know what you are buying and deal from a position of strength.