What to request when purchasing a route?

[pianoman]

I'm currently in discussions with a broker to purchase my first route. Currently I've received copy of sales for the last year, copy of credit card transactions, and some account information like how often it's serviced, machine type and age etc.

Is there anything else I should be requesting?

[lacanteen]

Tax returns to verify the "data"

[tblake05]

On 8/22/2019 at 1:27 PM, lacanteen said:

Tax returns to verify the "data"

Yes, Was going to purchase 4 more machines placed at two different locations.  When I asked for info on sales, the spreadsheet looked nice.  Then I asked for tax statements.  That was the last I heard from the person.  Either they weren't reporting the income, or it was totally bogus.

[AZVendor]

Most people with just a few machines are not reporting business sales or are reporting them on their personal returns which they won't want to show anyone. It's when you're buying a large operation that you're likely to have a business-only return that they might show you, but only if they are selling the whole thing.  

[AngryChris]

My sales are accounted for but I can tell you that it is super easy to fake the numbers.  However, I have absolutely no incentive to ever be claming MORE than my tax return shows... which means that the tax returns (if someone has a copy) would show you the least of what the business SHOULD be making unless there's a serious downturn in sales or they went to some extreme degree to fake sales.  My point is that the tax return is your biggest friend.  If they don't have one, then they might not be honest about practically anything anyway...

[Southeast Treats]

If you are in a sales tax state the seller can show you his sales tax returns without invading his personal tax info....