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Just look at this in a very simple way "x" sells a business to "y" and to stop "x" after having 12 weeks off,then walking up the same street and setting up the same business model in a different but a very close location to the one "x" has just sold with the good-bad will,, a very simple stand0alone clause may stop "x" from doing that,it may not always work out like that,but a contract is a contract and it works both ways..Agree, such a clause would be smart to incldue, how that would tie the seller of this particular up in court for months is still miles beyond my comprehension.
This is what I m querying with coastymike, what he meant by that.
As far I can read from the story, she has doen nothing but sell her business - what clause would tie her up in court & for what "wrongdoing" ?
Just look at this in a very simple way "x" sells a business to "y" and to stop "x" after having 12 weeks off,then walking up the same street and setting up the same business model in a different but a very close location to the one "x" has just sold with the good-bad will,, a very simple stand0alone clause may stop "x" from doing that,it may not always work out like that,but a contract is a contract and it works both ways..
Just look at this in a very simple way "x" sells a business to "y" and to stop "x" after having 12 weeks off,then walking up the same street and setting up the same business model in a different but a very close location to the one "x" has just sold with the good-bad will,, a very simple stand0alone clause may stop "x" from doing that,it may not always work out like that,but a contract is a contract and it works both ways..
The Silk Wig is only used when the said Lady does not play the game..But in this case, the lady has not done any of those things right ? so why would coastymike suggest a laywer could be tied up for years ? What has she "done" ?
The Silk Wig is only used when the said Lady does not play the game..
Just look at this in a very simple way "x" sells a business to "y" and to stop "x" after having 12 weeks off,then walking up the same street and setting up the same business model in a different but a very close location to the one "x" has just sold with the good-bad will,, a very simple stand0alone clause may stop "x" from doing that,it may not always work out like that,but a contract is a contract and it works both ways..
As for the Chinese people buying business, yes, I must admit every time I go to a shopping centre food court or a local food strip they seem to own about 80% of them. Maybe a Chinese person could elaborate on why they do it. One thing I am very certain is that its one of the easier ways to get a permanent residency into the country, a certain amount of turnover for a certain number of years and you get a PR. even if the business was making no profit, for some that would be considered a very good deal.
He's not a recent arrival.
The sale would have been done properly. She was a good operator and a decent person. The two staff stayed, the menu is unchanged, she would have been diligent in the handover, and she’s having a baby, so there will be no new cafe opening down the road.
I think the problem the new bloke will have is that the place must already have been operating at capacity. He would have bought a well run business making decent money and the sale price would have reflected that.
I would never consider buying a business, but if I did I would look for one where I thought I could increase the revenue i.e. I would back myself. I suppose it's a bit like looking for a property that you can change in some way to increase the value.
There is a bit of seating inside the place across the road and it was always full. There were always people waiting outside on the footpath waiting for coffee. And she was fast. I doubt whether it would be possible for anyone to get more coffees out of that window than she did.
So what are his options? Cut staff? Impossible. Reduce the quality of the coffee and food? Not ideal. Charge more for coffee? She was already more expensive than any other coffee place in the vicinity.
People went out of their way to go there and they paid a premium for the coffee.
If he manage to keep up with what the previous lady did, then he would have a profitble buisnesss right, what he paid for.. ?
Why would have have to consider other "options" ?