ForumsHome

Up to All Forums

This Question is Not Answered

1 "correct" answer available (5 pts) 3 "helpful" answers available (4 pts)

4 Replies Last post: Sep 21, 2008 11:12 PM by danceteach57

Need capital to buy out thriving business!!

Sep 20, 2008 10:53 PM

danceteach57 2 posts since
Sep 19, 2008

Hello Everyone,

My partner and I are looking for capital to purchase our place of employment before it is sold to someone else. It is a franchise and has been in the area since the 70's and been and is a profitable business. My partner and I have over 40 years experience collectively and it is our dream to own this business. I have been there since 1979. Please let me know if you can help us or if you know of anyone who can. Thanks!!

Tags: capital, loan, to, purchase Report as inappropriate

Fortis 239 posts since
Jul 24, 2008

1. Re: Need capital to buy out thriving business!! Sep 20, 2008 11:56 PM

danceteach57,

Hope all is well. Can you tell us a bit more about your place of employment and what your trying to do to keep it around?

Have you considered and SBA to help finance the business?

Report as inappropriate

LUCKIEST 7,933 posts since
Aug 6, 2007

2. Re: Need capital to buy out thriving business!! Sep 21, 2008 7:51 AM

Need capital to buy out thriving business, Welcome

Tell me more. Yes you have a Ballroom Dance Studio in Charlotte N C.

How much capital are you looking for?? and For how long??

Have you talked to your banker??

Do you have an Accountant?? Prior Tax Returns that I can see.

Report as inappropriate

josh_B2B 31 posts since
Aug 24, 2008

3. Re: Need capital to buy out thriving business!! Sep 21, 2008 1:30 PM

Hi Danceteach57,

To get a better idea of what type of financing solutions might be available at this time and make the most sense, I'd have to know a bit more about the business (price, revenues, profitability etc) as well as your and your partner's credit, assets, debt etc. I'be be happy to talk to you on the phone or in person as I'm a fellow Charlottean! Feel free to call me 7 days a week at 704-900-7003 or email me at jbernstone@b2businessfinance.com.

Best regards and good luck with your project!

Josh Bernstone

Report as inappropriate

danceteach57 2 posts since
Sep 19, 2008

4. Re: Need capital to buy out thriving business!! Sep 21, 2008 11:12 PM

in response to: LUCKIEST

Hi Luckiest,

Yes, we are looking to buy the dance studio where we are employed. We are looking for capital between $125 to $150,000 with an exit plan of 3 years. Bank is really not an option for us and we are looking for alternative financing. We can possibly get copies of tax papers from the current accountant. The studio has been in operation since the 70's and has been and is a profitable operation. Being that it is a franchise, there are guidelines that must be followed with a proven teaching system and training that, if followed, guarantees success. Please let us know if you can help with any suggestions, etc. as we are new to this process and really need help in knowing where to turn. Thanks.

Report as inappropriate

Bank of America, N.A. Member FDIC. Equal Housing Lender

Bank of America is not responsible for user posts and other user content appearing on this website and does not endorse or guarantee the perspectives, the advice, the users, the businesses, or the products or services sold by any users or businesses that appear on this website.

ForumsHome

This Question is Not Answered

Need capital to buy out thriving business!!

Sep 20, 2008 10:53 PM

More Like This

Most Recent Forum Posts

Legend