Should I buy this business or start my own?
Question by Ray S: Should I buy this business or start my own?
A friend of mine is selling his traveling dinner theater business I’m interested in it, and I’m sure I can make it a success but he wants $ 150,000 (non-negotiable) for it! All he’s got is a good reputation, client list, actors, scripts, and a decent website but no tangible assets. He’s showed me spreadsheets showing he made $ 80,000 in 2006 and almost $ 100,000 this year (although most of that was “under the table”) but only has bookings of about $ 10,000 (if that) for next year so far. I’m going to work my tail off and I’m sure I can increase that amount multiple times; but all my profit will go to him! Not sure if I should just tell him “never mind” and try to start my own company.
Best answer:
Answer by babidollishere
Sounds like he’s asking too much to me. A built in client base IS VERY important and starting from scratch you have nothing. I think he needs to drop his asking price.
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