AboutGary Bell Expertise I have an MBA and 25 years of executive business experience. I can answer questions about negotiation tactics, proposals and general business issues. I am particularly interested in small business planning.
Experience I am a career healthcare business professional with many years of execcutive experience.
Expert: Gary Bell Date: 12/31/2007 Subject: business aquisition
Question I will go straight to the point. I was offered a well established business for sale by the owner, who is old ( 82) and he wants to retire, for a very good price, precicely $ 225,000.00.
I tried every possible venture to get funding on the internet with no avail except for fees to pay for the services they provide. The business is used and new office furniture and panel systems, it's been profitable for the past 35+ years. Me and my partners have the experience, expertize, managment team in this field plus real inovative ideas how to do this. The business is in place since the early 70's. Combined office showroom and warehouse plus other warehouse space accross combined approx. 50,000.00 sq/f, stuffed with an inventory of close to $750,000.00. We refinish,refurbish all this that they look like new at the fraction of the price that it cost anywhere. We have full woodshop, paint boot and all equipment to beat anybodies prices around here since there is no competition around for few hundred miles. I will include a brief summary of what we intend to do in the attachment. All is sound and feasable, what we need is funding. Can you give me any advivce as of what we are wrong with our approch to get legitimate funding.
One thing is possibly a negative, all of us partners (3) have bad credit for various reasons, mostly unpaid hospital bills, identity theft and so on but none criminal in nature.
Point is the business doesn't have any negative rating, it's all good records. We like to buy it, The price include all debts.Business broke almost the $1 M mark for the past two years at least. (I have records and pictures to back this up).
If you can give me any advice I really appreciate it.
for more information on record, contact:
oldworlddesign05@att.net or
oldworlddesign@yahoo.com
Phone: 559 441-1915
Marry Chrismas and Happy New Year.
Best regards,
Raymond Anaya
Answer Raymond,
If you and your partners have no assets to pledge, I can't imagine how you might raise the money. You might try offering the seller a higher price via a structured payout, like 100K per year for 5 years. The seller can retain ownership until it is paid. I wish I had other ideas, but, I don't. I wish you the best!
