GSB-19: 8 Closing Checklist You Must Check Off Before Buying A Gas Station Business

Gas Station Business 101 Podcast - How to Start, Run and Grow a Successful Gas Station Business

English - November 08, 2015 01:53 - 46 minutes - 53.2 MB - ★★★★★ - 53 ratings
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Previous Episode: GSB-18: Basic Bookkeeping 101 | How to Calculate Net Profit and Breakeven Point for Your Business

Next Episode: GSB-20: How to Get Started in Gas Station Business If You are Short on Cash

In this episode I discuss a 8 point checklist that one should follow as the pre closing checklist to ensure the closing transaction is done smoothly and without any unnecessary hiccups. Not to mention following these 8 points property can save thousands of dollar.

Check the merchandise pricing to make sure they are not out or range
Negotiate the retail to cost percentage of the inventory you will be paying to the seller
Meet with the employees and explain to them what is taking place
Plan with seller for transfer of all regulatory licenses
Transferring all utilities under your company
Notifying all vendors about the change
Identifying all unsalable merchandise at the closing day
Follow proper Inventory counting process

The book I mention in this episode is The School of Greatness: A Real-World Guide to Living Bigger, Loving Deeper, and Leaving a Legacy by Lewis Howes