DUE DILIGENCE – NON-COMPLIANCE CAN HIDE THE TRUE PROFIT OF A BUSINESS!
The acquisition of a Goods Vehicle or Passenger Vehicle business is not without risk, so how can a prospective buyer know they are getting value for money and taking on a reputable, compliant concern?
We would strongly recommend, that along with the accounts, which are considered in detail prior to acquiring a transport operation, there are hundreds, if not thousands of files, documents and systems relating to compliance that should also be reviewed.
The new Operator or those representing them need to ensure that the vendor’s tachograph, maintenance and Operator Licence compliance systems are fully audited.
The key question is, was the vendor making money by operating ILLEGALLY?
We have seen, on a number of occasions that unscrupulous operators have achieved profitability based on a less than healthy approach to compliance with EC Drivers’ Hours’ and Tachograph Regulations and/or the roadworthiness of their vehicles and our experience with helping clients in matters of a Breach of Warranty bears this out.
It is better to act before purchase, rather than having the significant expense of remedial action, as well as the responsibilities of the O’ Licence Undertakings now being at the purchasers door following the sale.
How can Foster Tachographs & Transport Compliance help? It is quite simple, as well as auditing accounts, BEFORE PURCHASE ensure that the profitability of the business has been obtained and maintained legally.
We can undertake a full and accurate review of their compliance systems on your behalf, including their current levels of compliance, to ensure that there are no hidden ‘surprises’ in the future and that any factors that require improvement can be built in to any commercial deal.
To talk to us about FOSTER COMPLIANCE, please call 01772-655155 or complete the Contact Us Form below.
We are happy to answer any question you have or provide you with an estimate. Just send us a message.
01772 655 155
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