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Business Transactions
Buying a New York or New Jersey Car Wash or Gas Station: Evaluate Potential Road Repairs
The purchase of a New York or New Jersey car wash or gas station involves a number of due diligence factors that a prospective purchaser must consider and discuss with his or her business lawyer. In addition to evaluating these "existing due diligence" factors, such as the environmental condition of the property and the financial performance of the business, a prospective purchaser should consider the prospect of "future events" that may affect his or her newly purchased business. In particular, in New York and New Jersey where road repairs are common events, the prospective purchaser of a car wash or gas station should consider the current condition of major roadways leading to the business and the possibility of future road repairs and construction that may affect traffic flows and future revenues.Evaluating the prospect of "future road repairs" is not an easy task, is not a legal issue and, in most instances, cannot be verified. However, it is critical that the prospective purchaser at least be "aware" of this potential issue. Pay attention to surrounding traffic flows and the condition of surrounding roads. Also, discuss this issue with your business lawyer and evaluate the necessary representations to be added to your purchase agreement.
Charles N. Internicola, is a business attorney, author and speaker who represents individuals, entrepreneurs and established business owners in New York and New Jersey business transactions. Charles is the author of "An Entrepreneurs Guide to Purchasing a Business" and he is the publisher of the "New York Franchise Law Blog". If you are buying or selling a business in New York or New Jersey, purchasing a franchise or involved in a license or lease transaction Contact Charles Internicola to discuss the dedicated and precise legal representation that he provides to his clients and the steps that he will take to protect your business interests.
IMPORTANT DISCLAIMER: The information contained on this website is provided for general educational purposes only, should not be relied on as legal advice and does not serve to create an attorney client relationship. In utilizing this website you acknowledge that there is no attorney client relationship between you and Charles N. Internicola, Esq. and that the information contained on this site does not and cannot serve as a replacement for the competent legal advice of a licensed attorney in your state. The content of this website is subject to the Copyright of its author, Charles N. Internicola, Esq.
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