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    2 Replies Latest reply on May 10, 2008 12:02 PM by jr2008

    buying an exsisting business

    jr2008 Newbie

      Hi! I was offered by my boss to buy our company which is a garment manufacturing company,it is already stablished and have very good customers,located at Downtown L.A., I am currently the controller on this business I definetly know how to manage it very well, the only problem is I need money to pay it off to my boss. He is asking $50,000.00 but don't have the money. but if I do, I certainly know this money could be paid off within a year if it will push thru.
        • Re: buying an exsisting business
          LUCKIEST Guide
          buying an existing business, Welcome

          Being the controller of a business you want to buy is GREAT.

          How long has the company been around?? And how long have you been the controller??

          Have you prepared a CASH FLOW?? and How will you pay me back??

          LUCKIEST
            • Re: buying an exsisting business
              jr2008 Newbie

              I was the controler for this company for 6 years, and have been exsisting before I have worked there, more than I think 10 years, the cash flow is great the only thing my boss is selling it is he has two more company to manage and he could not handle anymore.

              return payment for my loan will be every month.and hopefully be paid in two years