Hi everyone,
A partner and I have an eye on a business we're interested in. This would be my first offline business I've ever ventured, along with my partner. It's a seasonal business (Yacht/Vessel - Business For Bachelor Partis, Stag AndDoe, Private Functions And Corporate Events). They've been in business for 20 years. When it comes to number crunching, when is a business considered a good deal and advantageous to the buyer like myself? For eg, this business is net profiting 150k/year and the asking price of it is 250k. What are your thoughts in terms of the asking price? Is a business like this worthwhile if 80 or 90% of the purchase price came from a bank loan?
I would like to take a look at it tomorrow and have an in depth conversation with the owner about it. I have a few general questions about how they operate, busy months, how they promote/market, who maintains the vessel, etc. Do you guys have any suggestions for any odd or out of the ordinary questions I should be seeking answers for? How can I validate the numbers in terms of them being accurate and not fraudulent?
Thank you,
Dan
A partner and I have an eye on a business we're interested in. This would be my first offline business I've ever ventured, along with my partner. It's a seasonal business (Yacht/Vessel - Business For Bachelor Partis, Stag AndDoe, Private Functions And Corporate Events). They've been in business for 20 years. When it comes to number crunching, when is a business considered a good deal and advantageous to the buyer like myself? For eg, this business is net profiting 150k/year and the asking price of it is 250k. What are your thoughts in terms of the asking price? Is a business like this worthwhile if 80 or 90% of the purchase price came from a bank loan?
I would like to take a look at it tomorrow and have an in depth conversation with the owner about it. I have a few general questions about how they operate, busy months, how they promote/market, who maintains the vessel, etc. Do you guys have any suggestions for any odd or out of the ordinary questions I should be seeking answers for? How can I validate the numbers in terms of them being accurate and not fraudulent?
Thank you,
Dan
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