How do I review a greenhouse’s inventory and supplier invoices before buying?

Start on the floor, not at the desk. Walk every house and storage room with the seller and write down what you see: plants by crop and stage, soil, pots, trays, fertilizer, packaging and spare parts. Ask which crops are committed to customers and which are speculative. Plants that have outgrown their sales window are a different asset from a crop that is on schedule.

Then move to paper. Ask for the supplier invoices for seeds, plugs, growing media, fuel and chemicals, and match a sample to delivery slips and bank payments. Look for invoices that are unpaid, disputed or paid late, and for a supplier who seems to hold the whole operation in one hand. If one input cannot easily be replaced, ask what happens when that relationship changes with a new owner.

Finally, ask how the seller values stock on the books and when it was last counted. A count done together, close to closing, is much stronger than a number on a year-end statement. Have your accountant read the inventory line and the payables ledger side by side before you rely on either.

Key takeaways

• Count the stock yourself, with the seller, and note crop stage and condition.
• Trace a sample of supplier invoices to deliveries and payments.
• Ask which supplier relationships are hard to replace.
• Ask what is owed to suppliers today and whether it appears in the books.