Post a new topic
    7 Replies Latest reply on Jul 30, 2008 6:14 AM by chinahelpyou

    want to buy a small bussines

    Lina2001 Newbie
      I want to buy a small business running on a flea market, but my credit is not relly good, I am a single mother of two, one almost to start University, do you think if I have co-signer helps.
        • Re: want to buy a small bussines
          LUCKIEST Guide
          Want to buy a small business, Welcome

          Tell us more. Where are you?? What kind of business??

          How soon??
            • Re: want to buy a small bussines
              Lina2001 Newbie

              Well this is a kind of cafeteria on a flea market on Anderson, SC, is for sale on 36,000.00 but I don't have money and my credit is a little bit bad, and my sister she has a good credit but she is not working right now, well she is looking for job, me and my sister we are on the medical field (medical assistants) but we want to start a little business to work just weekends
            • Re: want to buy a small bussines
              Tracker

              A co-signer can help. There are so many important things to cover when buying a business that it is not practical to put them all here in reply to your question. To give you some specific guidance on this we need to know a bit more about the business:

               


              What kind of business is it?

               


              Does it have any tangible assets, like equipment, machinery, inventory etc.?

               


              What kind of revenue does it generate?

               


              What kind of profit?

              If you are planning to start college ... can you effectively manage the business along with taking care of your two children?

              Do you know what they are basing their asking price on? Is that a fair and acceptable price?

              Right now conventional bank funding can be difficult to line up unless you have a track record for them to rely on, great credit, personal guarantees and collateral. So you have to look at the acquisition from all angles to make maximize use of whats there to work with not only with your own resources but what the business can bring to the table itself.

              By doing that kind of work, evalution & analysis of the deal and by being prepared you greatly increase the odds of lining up the funding and financing to buy the business.

              Good luck and I hope the above helps you or gives your some direction.

              Dennis Lowery
              Adducent, Inc.
              1 of 1 people found this helpful
              • Re: want to buy a small bussines
                Wingman Adventurer
                Hi Lina2001,

                Just a couple of other aspects you REALLY need to consdier BEFORE you start any business.

                1 - Have you ever worked in the food industry? It's a lot different being on the owner/operator side of the transaction and especially if you are thinking of only working it on the weekends. Depending on the type of food you plan on having, there may be alot of perishable items that can't sit a whole week before you sell it. Food preparation can also be a very time consuming process.

                2 - Are you rady for the change in lifestyle? Having a business and working at the flea market will definitely take away from any free time or family time and activities. Are you willing to give that time/freedom up to pursue a venture?

                3 - Check out any business to make sure they are profitable and not just showing you phony numbers. You need to be able to make enough of a profit to be able to pay all your bills otherwise don't even get into it.

                Good luck with what ever venture you decide to pursue.
                1 of 1 people found this helpful
                • Re: want to buy a small bussines
                  chinahelpyou Adventurer
                  dear ms;

                  how are you ! i am xiaoming from china,can i help you? We are foreign trade company in Suzhou, China,please tell me Want to buy a small business,
                  What kind of business??

                  i wait your letter!

                  xiaoming

                  my mail ;toszbuy@gmail.com