The Hidden Costs of Buying a Business Without Due Diligence (Richmond Edition)
Every week, someone in Richmond calls us with the same story:
“We bought the business. Then the skeletons started showing up.”
They thought they were getting a deal.
They ended up buying a headache.
The Hidden Costs Nobody Warns You About
1. The Phantom Revenue Problem
The books say $850K in revenue.
But when you dig deeper, half of it came from one contract that’s about to expire.
On paper, it looks great.
In real life, it’s a ticking clock.
2. The Owner Dependency Trap
Everything “runs smoothly”… because the seller works 70 hours a week and personally knows every customer.
When they walk away, so does the loyalty.
You didn’t buy a business - you bought a job.
3. The Aging Asset Ambush
That shiny equipment? Leased.
That prime retail space? Rent hike next quarter.
Those “long-term employees”? One foot out the door.
Due diligence catches all of it. Blind optimism doesn’t.
4. The Tax & Legal Boomerang
You close the deal, and three months later a letter shows up from the Virginia Department of Taxation.
Turns out the previous owner forgot a filing.
Now it’s your problem.
5. The No Transition Plan
The seller says, “I’ll stay for a few weeks.”
Then disappears the moment funds clear.
You’re left explaining a business you don’t fully understand to customers who barely know you.
Why Richmond Buyers Get Burned
Because local deals often feel “friendly.”
You meet over coffee at Carytown. You like the seller.
Everything seems honest.
But business sales are like real estate - the smiles stop mattering when the contracts start talking.
Here’s the Fix
Before you buy, get a third-party due diligence review - financials, contracts, leases, tax exposure, and operational risk.
We’ve seen deals in Richmond fall apart in a good way once real numbers came out.
And we’ve helped others renegotiate and save six figures.
Thinking About Buying in Richmond?
Don’t gamble with guesswork.
We’ll review the numbers, vet the deal, and tell you exactly what’s real - and what’s not.
👉 Book a consultation - confidential, fast, and 100% worth it.