Question for shop owners

Mr paladin · June 25, 2003

How much revenue does the company bring in annually?can he verify it with tax records?and yes $70.000 is to much for it if he does not own the building.Just wait until he gives up on selling it and moves on and then take over the building and start your own tint shop in the same location.

June 25, 2003

I'm with PIE, BS & OT!

I sold a place in florida, great reputation many years same, fair location, lease and little inventory. Received 40% of my asking price in the end for the same reasons given by PIE & BS.

He is the business and so was I.

Buyer beware!

:dunno

June 25, 2003

$70,000??? For that much money I would open a place within a couple of blocks of him and get a big lighted sign out front. :dunno

goodtohave · June 25, 2003

2 problems...1st one is he has to get a lease. You are buying a location and Goodwill. The location is worthless without a lease. Second of all the goodwill with clients will only carry so far. I bought an existing business and EVERY FREAKIN ex employee and relative opened up the week I closed on the deal. Don't trust anyone and be pleasantly surprised if they don't screw you. I agree with the guy who said open down the block and save the 70k if he can't get a lease 10 yrs min. Not to mention an anti competition clause for him AND his employees, even if they are next to impossible to enforce.

June 25, 2003

It's funny, I talked to him today and told him I was talking to my girlfriends boss (retired business lawyer and owns 4 shopping centers) and he was against the idea to. He was saying a lawyer wouldn't know anything about what a shop is worth or about running one. Maybe I should print this thread and see how he argues against people in the business doing the same thing.

Once again, I really appreciate all the help, this is a really great site. He should have a proposal done sometime this week, so I'll see where the negotiating goes. I'll let you know what happens.

watchdaride · June 26, 2003

No one man shop is worth that much. Take $30000 buy a computer cutting system and open up beside dealerships. Get in the yellow page ad next year. Spend $10000 on advertising the first year.Do a few cheap jobs to get your name out there Once you make it through the 1st year its easy sailing.I bought an establish business with all the hype.It was all bull. Bet you it doesnt show making money on the books. Dont believe the hype.