I’ve been out of work for a while and am planning on going into business for myself. I am considering buying a store that is into muscle building supplements.
Problem is they have two sets of books. The official books show net losses for all 3 years of operations. No cash sales are show in these books not even the owner’s salary or the employees salary. The other set shows the cash sales and a net profit of over 40000 for each the three years of operations.
Is this common for smaller business to have two sets of books or are they trying to scam me.
Also what are your thoughts on the industry?
Problem is they have two sets of books. The official books show net losses for all 3 years of operations. No cash sales are show in these books not even the owner’s salary or the employees salary. The other set shows the cash sales and a net profit of over 40000 for each the three years of operations.
Is this common for smaller business to have two sets of books or are they trying to scam me.
Also what are your thoughts on the industry?