@Brendan:
I absolutely agree - from buyer's point of view it's essential as you say; and from sellers' viewpoint it's desirable as they enjoyed a homely, almost Quaker-like, friendliness with many customers and live nearby so would want to maintain this state of relations.
Yet whenever I put this to the owner, he shot it down. All he'd do was "be with and advise" the new owners for 6 weeks after purchase as is.
I'd say the old business name would be better retained until a new owner had established their own credentials in customers' eyes.
On claims against the existing owner, I know of none. He was very aware of stuff like that - odd points of consumer law, business owner liability, etc - and would be unlikely to have left any hostages to a new owner's fortune.
No gift vouchers are ever offered. Just a box of sweets at Xmas time on the counter and an odd freebie service for a helpless pensioner.
@noproblem:
1) Purely services only -- USP is speed of flagship service compared to local rival businesses; most other services either run-of-the-mill or subcontracted to bigger/specialist service providers and a small cut taken from it.
2) Profits per transaction on flagship service is less but this is made up for by higher throughput. Other services have typical margins for that sector. Overall - prior to Ukraine - I'd estimate expenses outside labour and rent to be ~ 25% of which energy as gas/elec is the main one.
3) No loser services. But it's easy to discontinue them or subcontract to a high volume provider anyway.
4) No stock in hand bar small consumables stock for ongoing operations and a small set of essential spare parts for equipment.
5) No credit. No card machine there and all stuff is held till paid for.
6) Not seasonal turnover-wise. But certain services are more in demand at winter end or summer end.
7) The proprietor does the books initially always but I suppose a formal book-keeping + advice is got from a local accountant.
8) Yes. Adjacent to 2 colleges, a share of apartments and family homes. Kind of like Upper Rathmines Road, if you know it. Except flagship service also brings customers from miles around.
9) Shop building is well-maintained.
10) Owners getting too old and wanting more leisurely lifestyle.
Getting back to original question, could the fact that owner's profits go mainly into buying houses have a bearing on the sole tradership structure ?
Can this structure offer advantages w.r.t. the properties bought ?