ForumsStarting a Business

Delayed flight, lonely airport, and a decent laptop connection -- glad something useful came out of it!

MsSofty,

I resent the email you were looking for.

CorpCons08

Shot me an email an I will help you with this situation.

MsSofty,

I sent you a few emails, did you get them?
If not, please make sure it is not being routed to a junk mail folder.

CorpCons08

I am going to send you an email with telephone contact info.
I figure this way we can speak and know its getting through

{font:'Times New Roman'}{size:12pt}Most people tend to over think these type of
decisions and thus end up a bit dazed and confused about the true goal - which
more often then not is to simply earn a living.

Based on what you have told me I would take a long hard look at what you fee
that you can bring to the business that would improve its cash flow - as it
stands now and assuming that you are able to maintain income/expense rations as
she has done -- you will be looking at roughly 3 years to pay off the dept/loan
assuming you can apply 100% of the NET income towards this goal and assuming
that this is an interest free loan (most likely not;).

Other things to consider:
Most Mom and Pop shops live on personal relations to generate business... Additionally
the majority of customers are not under any obligation/contract for future
business and thus are just as likely to move on to another service provider. So
I would expect to loose a large % of her original customers right out of the
gate. You may be able to survive this by bringing your own existing customers
along.

Get the numbers... Any discussion of purchase price with out seeing her actual
books is premature.

Once the business is sold do not count on any true assitance from the previous
owner.... There is a reason she is selling (Health, Family, Tired) if she
dosent have the time/desire to do it for herself then do not expect that to
change when you take over the business.

Final thought - At face value the business has assets worth aprox. $25k and one
year Net sales of $30k If you need to pay rent power and or insurance...
this business is a break even business at best (assuming that you do not need
to be paid and are happy working for free)

- Consider purchasing the tools of the trade on ebay and spending 10-20k
over the course of a year promoting your new service (locally and on line). You
may be surprised at how quickly you can generate your own customer base and
profits.{size}{font}
{font:'Times New Roman'}{size:12pt}
Embroidery Machine:
http://cgi.ebay.com/SWF-Single-head-Embroidery-Machine_W0QQitemZ170176222880QQihZ007QQcategoryZ71196QQssPageNameZWDVWQQrdZ1QQcmdZViewItem

Embroidery Thread:
http://cgi.ebay.com/112-Spools-Embroidery-Machine-Thread-For-Brother_W0QQitemZ130183008695QQihZ003QQcategoryZ71196QQssPageNameZWDVWQQrdZ1QQcmdZViewItem

Cheers,

Andrew
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