Site visit
A site visit is an in-person inspection of the business premises, equipment and operations, usually arranged once a buyer is far enough into due diligence to be seriously committed. It lets the buyer see the condition of assets, observe the business running, and confirm that reality matches what the financial and legal documents describe.
No amount of paperwork fully substitutes for walking through a business in person. A site visit lets a buyer check the physical condition of equipment, inventory levels, cleanliness, staff presence, and general upkeep against what has been represented in the confidential information memorandum and financial statements. For a retail, restaurant or manufacturing business, this step often surfaces issues that documents alone never would.
Coordinating around confidentiality
Because employees or landlords may not know the business is for sale, site visits are usually arranged carefully, sometimes framed as a general business meeting or scheduled outside operating hours. Timing is coordinated with the seller to avoid alarming staff or customers before a deal is far enough along.
What buyers document
Serious buyers often bring a checklist covering equipment condition, safety issues, signage, and anything that might need near-term repair or replacement, since these can affect valuation or become negotiating points before the definitive agreement is signed.
Sources
This definition is checked against primary sources. Links were last confirmed on the dates shown.
- 01Treadstone LawLegal commentaryEquipment and Asset Condition Checks Before Buying a Business in Ontario
- 02Treadstone LawLegal commentaryKeeping a Business Sale Confidential in Ontario
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