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    1 Reply Latest reply on Jun 7, 2008 11:09 PM by Bridge

    To buy or lease that is the question.....

    Furrybusiness Newbie
      Thinking of leasing or purchasing an existing pet boarding business. The business is situated on 5 acres with zoning for a house. Currently, I am a mobile groomer in the area. My husband and I are looking to work together with animals. We have some money, but not near the $160K asking price for the business. What to do? Lease and see how the business goes? Or try to obtain a business loan for the whole kittin kabootle?

      How hard a business loans to come by? Never have done one....just wondering...thanks for any help.
        • Re: To buy or lease that is the question.....
          Bridge Navigator

          Before we start with financing the purchase price, tell us about the business.

          1) Have you got three years of financials?
          2) What were last years revenue & earnings?
          3) Are earnings up or down
          4) why is the owner selling

           

          5) does the asking price include the land

           

          6) what is the appraisal on the land value

           


          profitable established businesses can be financed - expect to put 20% down. For something this small, consider seller financing. Perhaps "lease to own" in this case.

           


          Every deal is about price and terms. they better terms you get, expect to come closer to meeting the sellers price.

           


          Greg Dupuis

           

          Bridge Ventures, LLC

           

          Merger & Acquisition Advisors

           

          www.bridgeventuresllc.com