Hello,
New to the forum.
I have read many of the threads posted here and feel that I am not alone in my desire to own my own business. I have been working in the same industry for many years and at the same company for the last several. But I have been watching my current company go down the tubes. It has reached panic mode.
we have less than half the people we started with, but are now trying to do double the work. we all have been living on 30 and 40% pay cuts for the last 18 months. I have given blood sweat and tears and have nothing more to give.
To this end I have been looking for something for me to do. If I am going to give it all, I want it to count for me. I have the experience, drive and determination to run my own. I have recently found a posting for a company for sale, in the same industry I am in. I know the business and know how to run a business like this. But I have no money.
The business I am looking at is importing product from China and selling it internationally. The company has an established brand, and is currently trending up every year for the past 5 years.
They have a niche of the market and have great potential growth because of it.
The business is being listed for $650K, and the seller is willing to finance half.
what is the typical pay back for a loan?
Will I need to secure more financing for financing stock?
How does a investment work, time frames, expected interest rates?
What are the best sources for capitol, banks, angel investors, VC firms?
I am getting ready to look at the company financial's, what do I look for?
I would be relocating the business across the country, what pitfalls will come from that?
what can I expect as help from the current owner?
What help can I expect from the current team members?
What other areas should I be looking into for this?
I need any and all help.
Thank you.
New to the forum.
I have read many of the threads posted here and feel that I am not alone in my desire to own my own business. I have been working in the same industry for many years and at the same company for the last several. But I have been watching my current company go down the tubes. It has reached panic mode.
we have less than half the people we started with, but are now trying to do double the work. we all have been living on 30 and 40% pay cuts for the last 18 months. I have given blood sweat and tears and have nothing more to give.
To this end I have been looking for something for me to do. If I am going to give it all, I want it to count for me. I have the experience, drive and determination to run my own. I have recently found a posting for a company for sale, in the same industry I am in. I know the business and know how to run a business like this. But I have no money.
The business I am looking at is importing product from China and selling it internationally. The company has an established brand, and is currently trending up every year for the past 5 years.
They have a niche of the market and have great potential growth because of it.
The business is being listed for $650K, and the seller is willing to finance half.
what is the typical pay back for a loan?
Will I need to secure more financing for financing stock?
How does a investment work, time frames, expected interest rates?
What are the best sources for capitol, banks, angel investors, VC firms?
I am getting ready to look at the company financial's, what do I look for?
I would be relocating the business across the country, what pitfalls will come from that?
what can I expect as help from the current owner?
What help can I expect from the current team members?
What other areas should I be looking into for this?
I need any and all help.
Thank you.
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