My friend offered me to take over his cafe for a token takeover fee.
Is it difficult to takeover business in Singapore?
I have no prior business - but I find it interesting and challenging.
What are the pitfalls ?
One pitfall will be debt - make sure you're not taking over something that has a lot of debt run up - you wouldn't be the first to be suckered into that.sgpeter wrote:My friend offered me to take over his cafe for a token takeover fee.
Is it difficult to takeover business in Singapore?
I have no prior business - but I find it interesting and challenging.
What are the pitfalls ?
I did take up a business, sometime ago .. running very fine ..PNGMK wrote: One pitfall will be debt - make sure you're not taking over something that has a lot of debt run up - you wouldn't be the first to be suckered into that.
My point exactly.ecureilx wrote:I did take up a business, sometime ago .. running very fine ..PNGMK wrote: One pitfall will be debt - make sure you're not taking over something that has a lot of debt run up - you wouldn't be the first to be suckered into that.
The guy who was gracious enough to let me take over forgot to tell me that he owed Asia Pacific Breweries a lot of money, and he carefully hid it as he had been making payment by another company of his ..
Chalked it up to another lesson in life
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