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    5 Replies Latest reply on Jul 4, 2009 9:45 AM by phanio

    Chance to buy

    August00 Newbie
      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.
        • Re: Chance to buy
          LUCKIEST Guide
          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
            • Re: Chance to buy
              August00 Newbie
              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.
            • Re: Chance to buy
              oldmoneymaker Newbie
              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.
              • Re: Chance to buy
                phanio Pioneer
                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