How do I check a concession business’s event bookings before buying?
Ask the seller for the list of events and confirm each one with the organiser, with the seller’s consent. Find out whether the booking belongs to the person or the business, when reapplications are due, and whether any exclusivity is real. Then ask your lawyer to reflect what you learned in the purchase agreement.
For a stand that works fairs, festivals and markets, the event calendar is often the most important asset to verify. Ask the seller how readily equipment, and each event spot, could be replaced. This page covers only that one asset. Treat every booking as a claim to verify, not a fact, until the organiser has said so.
Get the list, then call the organisers
Ask the seller for each event worked, with dates and the contact for the organiser. Once you have signed a confidentiality agreement, ask to speak with them, with the seller present or informed. Ask what the stand’s history is, whether it was in good standing, and whether the organiser would accept you as the new operator.
Does the booking follow the owner?
Some organisers book a named person, others a business. Ask in writing whether a booking can transfer to a buyer and whether the organiser has to approve it. Also ask when jury or reapplication happens. A spot that is up for review soon is a risk to weigh, not a given.
Exclusivity and the contract
If the seller says no other vendor can sell the same product at an event, ask to see where that is written. Often it is a habit, not a promise. Your lawyer can then draft terms that fit what you found, such as a condition that key organisers consent, or a price adjustment if a major spot is lost before closing.
- A dated list of events with organiser contacts.
- Written confirmation of each booking or approval.
- Reapplication dates for the coming season.
- Any exclusivity, in writing.
Related reading
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Selling
Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentHow to conduct due diligence when buying a business
- 02Business Development Bank of CanadaGovernmentMajor pitfalls to avoid when negotiating a purchase agreement
- 03Business Development Bank of CanadaGovernmentWhat are the steps to buying a business?
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