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- Jan 3, 2019
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I have an opportunity to buy a business.
Maybe it is not a good idea, since the best thing is to create a business, not buy it.
Having said that, I will comment on the detail to see what you think:
This is the business of an old artisan who creates fishing lures with some mechanical machines that he has designed himself. The lures are very good and practically impossible to copy since he himself has created the machines: simple, nothing electronic or digital, basically they are lathes designed by him.
The business currently has sales of about 200k USD and with large margins (in the end the material is simple: wood, wires, hooks, ...) with what the benefits are over 100k, with few hours of work per day It can also be delegated since the tasks are mechanical.
The production is perfect but the marketing and sales channel is very old. You can't buy online, you can't pay with card or paypal, etc.
The owner sells it for 600k. The price includes all the inventory that could practically be sold by at least 300k.
I honestly believe that it is worth attending to its benefits and its potential. But the idea of borrowing so much or looking for investors doesn't seem the best way, especially for a business that although it works well, I have not created and I am not an expert.
Practically I have decided to say no, but I told you to know how you see it.
Thanks and best regards.
Maybe it is not a good idea, since the best thing is to create a business, not buy it.
Having said that, I will comment on the detail to see what you think:
This is the business of an old artisan who creates fishing lures with some mechanical machines that he has designed himself. The lures are very good and practically impossible to copy since he himself has created the machines: simple, nothing electronic or digital, basically they are lathes designed by him.
The business currently has sales of about 200k USD and with large margins (in the end the material is simple: wood, wires, hooks, ...) with what the benefits are over 100k, with few hours of work per day It can also be delegated since the tasks are mechanical.
The production is perfect but the marketing and sales channel is very old. You can't buy online, you can't pay with card or paypal, etc.
The owner sells it for 600k. The price includes all the inventory that could practically be sold by at least 300k.
I honestly believe that it is worth attending to its benefits and its potential. But the idea of borrowing so much or looking for investors doesn't seem the best way, especially for a business that although it works well, I have not created and I am not an expert.
Practically I have decided to say no, but I told you to know how you see it.
Thanks and best regards.
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