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The Buying Process

Due Diligence: The Numbers That Matter

By Raphael Ramani, Acquisition Finance Specialist · Last reviewed · 6 min read

Three months of checking saves thirty years of regret. Where to look, and the costs sellers hope you will not find.

02

Takings first, always

Whether you are buying a café, a pharmacy, or a garage, the due diligence process is the same — and the numbers you need to scrutinise are identical regardless of the sector or location.

Till records, bank statements and VAT returns must tell the same story. If declared takings exceed what reached the bank, ask why — cash businesses can be legitimate, but the evidence has to exist somewhere. No verifiable takings, no purchase.

The costs that hide

Profit can be flattered in ways that only surface after completion:

  • —The owner working sixty unpaid hours a week
  • —Rent below market because a review or lease end is coming
  • —Maintenance deferred for years — plant, extraction, roofing
  • —Staffing levels that breach minimum-wage or holiday rules

The paper that protects you

The lease, the premises licence, supplier and platform contracts, staff records and the stock basis agreed for completion day. Diligence is not suspicion — it is how a buyer earns the confidence to pay a fair price quickly.

For a sector-specific view of how this works in practice, see our page on Convenience Stores acquisition finance and loans, including how lenders assess these deals and the areas we cover.

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