The Operator's Checklist
The checklist to work through before you buy a business.
A practical due diligence checklist for first-time buyers. What to actually verify before your money's committed, so you don't buy a headache instead of a business.
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What's inside.
Five areas to work through on any deal, with what to check and why it matters.
1
Financial
Verify the earnings hold up. Reconcile the numbers, test the add-backs, and find out what the business actually makes.
2
Legal
Know the ground your lawyer will cover. Ownership, the contracts that transfer, licences, and the assets you think you're buying.
3
Operational
Find out what breaks when the owner leaves. Staff, systems, suppliers, and how much of the business walks out the door with them.
4
Commercial
Read the market and the reputation. Why customers choose this business, and whether it's structurally sound.
5
The handover
Line up the transition before you sign, not after. Know what it takes to keep the business running once the owner steps away.
A tool to help you think clearly.
Buying a business is a lot to weigh up, and it's easy to miss something when you're excited about a deal. This checklist gives you a structured approach so you can ask better questions, spot what needs a closer look, and make the call with your eyes open.
General information, not financial, legal or accounting advice. Use it to direct your own thinking and your advisors' work, not to replace either.