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1 Replies Last post: Jun 26, 2008 3:48 PM by Adducent

Chance to buy

Jun 29, 2009 8:13 PM

Click to view August00's profile Start-up August00 2 posts since
Jun 29, 2009
I found a bagel/sandwich shop for sale for $60,000. I have never owned a business and have no idea what I need to get a loan/financing. What information do I need from the seller and how should I go about embarking on this crazy dream? Any advice is greatly appreciated.
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Click to view LUCKIEST's profile SCORE LUCKIEST 7,935 posts since
Aug 6, 2007
1. Re: Chance to buy Jun 30, 2009 7:30 AM
in response to: August00
Chance to buy, Welcome

Start by going to Members page and sharing some info. Who are you?? Where are you??

Then develop a business plan. Good luck
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Click to view August00's profile Start-up August00 2 posts since
Jun 29, 2009
2. Re: Chance to buy Jun 30, 2009 5:04 PM
in response to: LUCKIEST
My name is Michelle and I am in Jackson, NJ. I did just put that in my profile. I don't have any equity for a loan. My husband and father have both offered to co-sign for me. The gentleman who is selling the business said I can't have access to any financial info until I can show him that I am financially able to purchase the business. I spoke to one bank yesterday that said I need the projected income, cost analysis, start up fee, something about a registered name certificate and either an employee id# or a tax id# and then a busniess plan. I have none of those and have no idea how to write a business plan, projected income, cost analysis, etc. Can you guide me? Thanks.
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Click to view LUCKIEST's profile SCORE LUCKIEST 7,935 posts since
Aug 6, 2007
3. Re: Chance to buy Jun 30, 2009 6:37 PM
in response to: August00
Chance to buy, Michelle, I would be happy to help you. I live in Rockland County N Y (near Paramus).

Email me at " pdeig@juno.com " and include your phone number.

LUCKIEST
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Click to view oldmoneymaker's profile Authority oldmoneymaker 9 posts since
Jun 23, 2009
4. Re: Chance to buy Jun 30, 2009 8:55 PM
in response to: August00
My guess is the place cannot make a go of it. Could be why they won`t show the books and prove it`s track record.
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Click to view phanio's profile Mogul phanio 483 posts since
Apr 7, 2009
5. Re: Chance to buy Jul 4, 2009 9:45 AM
in response to: August00
Two things - get some expereince - go work for a similar store for awhile. In the mean time - research and start writing a business plan - this will outline all that you need to know to get started - including the amount of money you need, what products to offer, and who your customers are and their needs.

Business Money Today
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