Home: Message List - Seeking funds for small business purchase low credit score

Re: Seeking funds for small business purchase low credit score

GrowthCurve — Wed, 10 Sep 2008 03:08:34 GMT

Just to be sure we understand...you're talking about buying this exact business, not a franchise, correct?

If so, it seems the only thing you're really getting for the $2,500 are the yard cards and the Web site.

It might not be a bad deal as my guess is you'd spend at least that amount replicating these assets.

However, how good a business could this be if the owner is willing to sell it for only $2,500?

I would try to get the seller to hold the note for a year or do the whole thing on an earn-out (meaning you pay the $2,500 off only when the business generates enough cash flow for you to pay it off).

You can always trade price for terms, too. Maybe you bump up the price a little if the seller is willing to hold a note.

Another option could be for you to get creative and strike up a marketing agreement with her and an option to buy the business later. You would basically do the marketing and act as the owner of the business without actually owning it, then you could see if there's really any money to be made here before buying it.

What's the economy like in your area? I am thinking that spending $70 on a card for a lawn is going to be pretty low on people's list when many people can't even pay their bills.

Re: Seeking funds for small business purchase low credit score

Bridge — Wed, 10 Sep 2008 02:29:41 GMT

Try asking the seller to provide financing. Seller financing is common for small businesses; it shows that the seller believes in the business they are selling.

You are not looking for a lot of money and they should be open to it.

Best of luck,
Greg

Re: Seeking funds for small business purchase low credit score

philpeb — Tue, 09 Sep 2008 16:26:48 GMT

It is a Yard Card business. Not yard care. The business is a lawn greeting card business. Such as for birthdays, new baby being born. The business I wish to purchase is called Buckeye Yard Cards. This is the web site link to it so you can understand more about what I am talking about. http://buckeyeyardcards.com/

Re: Seeking funds for small business purchase low credit score

Fortis — Tue, 09 Sep 2008 15:10:56 GMT

phileb,

Good afternoon, hope all is well. What type of help are you looking for? Are you trying to buy a landscaping company?

Re: Seeking funds for small business purchase low credit score

LUCKIEST — Tue, 09 Sep 2008 15:06:48 GMT

Seeking funds for small business purchase, Welcome

Tell us more. What is a " Yard Card business"??

Do you have a Business Plan??

Re: Seeking funds for small business purchase low credit score

phinsm — Tue, 09 Sep 2008 14:51:27 GMT

I assume it was a typo and yard care is the business. But let's see...

Re: Seeking funds for small business purchase low credit score

GrowthCurve — Tue, 09 Sep 2008 14:34:54 GMT

What is a yard card business? Once I understand your business, I may be able to offer you some advice.

Seeking funds for small business purchase low credit score

philpeb — Tue, 09 Sep 2008 13:53:37 GMT

I am seeking funds to purchase a small business. My problem is I have a bankruptcy this year. My credit score is 596. I'm located in Ohio. I have tried to locate honest companies on line, and so far only have come up with people who wish to rip you off. I realize my chances are of getting the funds I need are slim, but I am not willing to give up yet.

The small business I want to buy is a Yard Card business. I figure the $2,500.00 to purchase the business and $1,500.00 to get it off the ground for advertising, business cards , and fliers. This is a business that I will run from my home, so there won't be any rental of any property involved.
Any help will be greatly appreciated.