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SVTPerformance's Chain of Restaurants
Road Side Pub
Buying a business you have no previous connection with...
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<blockquote data-quote="velocicaur" data-source="post: 16573766" data-attributes="member: 33335"><p>Thanks for the responses so far.</p><p></p><p>It is definitely a strange situation. I am in the beginning stages of looking at it so I don't know how much they make per client, etc. I only have a basic financial report for the last 4 years from the broker. I have to dig deeper but I wanted some opinions on the whole thing before I take the next step. I would need some guarantee that the owner would stay on for a while. I would like to take it one step further and keep her on as partner to begin with at ~80/20 so she still has some skin in the game - added incentive if you will. The fact that she is offering seller financing makes me feel good about it. She has faith in her business or she wouldn't consider that?</p><p></p><p>It's been in business for ~20 years now and has great reviews on google. The owner has created a really successful business - no debt, etc. She has worked 6 days a week for many years now and is looking to step back. The rent is low and there are 4 employees that are 1099 and work on commission so there is little risk there too. It really does look like a great little business from what I know now. </p><p></p><p>Any more input would be appreciated.</p></blockquote><p></p>
[QUOTE="velocicaur, post: 16573766, member: 33335"] Thanks for the responses so far. It is definitely a strange situation. I am in the beginning stages of looking at it so I don't know how much they make per client, etc. I only have a basic financial report for the last 4 years from the broker. I have to dig deeper but I wanted some opinions on the whole thing before I take the next step. I would need some guarantee that the owner would stay on for a while. I would like to take it one step further and keep her on as partner to begin with at ~80/20 so she still has some skin in the game - added incentive if you will. The fact that she is offering seller financing makes me feel good about it. She has faith in her business or she wouldn't consider that? It's been in business for ~20 years now and has great reviews on google. The owner has created a really successful business - no debt, etc. She has worked 6 days a week for many years now and is looking to step back. The rent is low and there are 4 employees that are 1099 and work on commission so there is little risk there too. It really does look like a great little business from what I know now. Any more input would be appreciated. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Buying a business you have no previous connection with...
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