The asking price on an island business is usually built from three things: the remaining lease, the fit-out and equipment, and a multiple of profit. Ask the seller to break the price into those parts. A business with two years left on its lease is worth far less than the same trade with eight, however good the coffee is.

Verify the trade rather than the story. Bank statements over twenty-four months show the seasonality; a POS export shows covers and average spend; supplier invoices show whether the food cost in the accounts is real. Anything that exists only in a spreadsheet the seller built is a claim, not evidence.

Then look for what is not in the price. Staff severance accrues with service and follows the business. Landlord consent is usually required to assign a lease and can carry a fee. Equipment may be on finance. None of these show up in a revenue figure, and all of them show up after completion.