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Hi all.
So just now, I got a fantastic opportunity to buy a beauty clinic and incorporate it into what will become a chain of clinics.
Long story short, 2 doctors bought the clinic, one got sick and stopped working. The other didnt have time to work sufficient to make the place make a profit. He is also not an entrepreneur so even better.
They have just been open for a year and has had a turnover of 22k and a result of -25k. So a loss of 3k.
Normally as I understand, you value the cash flow when you buy a business but how do you do it in a case like this?
Just buy the inventory?
Asking price is 60k.
I spoke to the broker and the current doctor want to continue to work part time in the clinic but with an entrepreneur to run it. Location and shop is both fantastic so the potential is insane.
What I want to do is just pay for his expenses that he put out and not a dollar more, keep him working 50% in the clinic and fill up with machines and staff and make it a proper beauty clinic. Use the markering machine of my other business to jump start this one.
I have also dreamt of having a doctor working with me since it will help with alot of beurocraty for my other clinics since I dont have a doctor onboard yet who can order some of the products I need.
Any ideas?
So just now, I got a fantastic opportunity to buy a beauty clinic and incorporate it into what will become a chain of clinics.
Long story short, 2 doctors bought the clinic, one got sick and stopped working. The other didnt have time to work sufficient to make the place make a profit. He is also not an entrepreneur so even better.
They have just been open for a year and has had a turnover of 22k and a result of -25k. So a loss of 3k.
Normally as I understand, you value the cash flow when you buy a business but how do you do it in a case like this?
Just buy the inventory?
Asking price is 60k.
I spoke to the broker and the current doctor want to continue to work part time in the clinic but with an entrepreneur to run it. Location and shop is both fantastic so the potential is insane.
What I want to do is just pay for his expenses that he put out and not a dollar more, keep him working 50% in the clinic and fill up with machines and staff and make it a proper beauty clinic. Use the markering machine of my other business to jump start this one.
I have also dreamt of having a doctor working with me since it will help with alot of beurocraty for my other clinics since I dont have a doctor onboard yet who can order some of the products I need.
Any ideas?
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