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| slob-air |
 Posted: Thu Sep 27, 2007 5:22 pm |
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Site Admin
Joined: 27 Oct 2001
Posts: 63458
Location: S&B HQ
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Brandon - Make sure the current owner has done his taxes correctly and has no leans against the business as well.
Also check the lease and talk to the property management for a projection of any rent increases. |
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| brianzig |
| Posted: Fri Sep 28, 2007 8:01 am |
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Joined: 25 Aug 2006
Posts: 342
Location: South Carolina
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66K sounds like a major deal. From the description, it probably has close that much in inventory alone. Especially if he stocks shoes from a variety of vendors and goes direct. I wouldn't even consider selling my shop for that amount unless I just had to get out and pay off the loan like your bud.
Inventory, established (with customers and vendors), $500K in sales (jeez I wish I had those numbers), employees and books in check. All are very good pluses. Sounds like a no-brainer to me.
As far as the industry changing....it's always changing. You just have to adjust and adapt. Skateboarding was, is, and always will be around. It's just more popular at times but the die-hards are always around. Just look at some of us dinosaurs around here.
There's a shop in the county south of mine that's celebrating 24 years in business this month. |
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| larrybuick |
| Posted: Tue Oct 16, 2007 6:04 pm |
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Joined: 15 Oct 2007
Posts: 28
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damn i want it!!!! i own a shop here in texas and i think 66 is a great number. how much inventory does he have. thats what your really buying..the inventory the fixtures and everything that comes with it.
i would also think about letting those old employees go and start fresh, i bet they have a lot of bad habits possibly stealing.
i would also see what large mall shops are think of moving in if not allreay. suck as zumez, active and shops like that.
this sounds really cheap to me. also find out how much rent is and how much it takes each month to break even. a half a mill sounds like alot but it really is not....sorry not being a jerk but for a mall shop that aint crap. rent could be 10 grand a month....
just watch your self. and have more than 66 to start with it takes more than that to keep a bussiness going.
good luck and if you have any questions fell free to ask.
larry |
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| That 70's Skater |
| Posted: Tue Jan 01, 2008 1:53 pm |
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Joined: 28 Oct 2003
Posts: 1085
Location: 1975
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| BDS740 |
| Posted: Thu Jan 10, 2008 9:24 pm |
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Joined: 04 Feb 2004
Posts: 1006
Location: Daphne, AL
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That 70's Skater wrote: Did you buy?
I did not. Long story. |
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