Would You Pay $899,000 To Buy This Business? Forbes Article

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by a searcher from University of Southern California
in St. Louis, MO, USA

5yrs ago

Would You Pay $899,000 To Buy This Business? Forbes Article

I found this article this morning, and thought it would be helpful to other searchers:

redacted

4 Likes

778 Views

reply by a searcher 5yrs ago
from Pepperdine University in Boise, ID, USA

I don't buy a business unless there is an opportunity to grow/scale and believe if you are working "in" the business, it becomes difficult to work "on" the business. I agree it would not be a professionally managed, but wasn't alluding to that. I just don't think $700k net is a "job replacement."

reply by an intermediary 5yrs ago
from Boise State University in 800 W Main St, Boise, ID 83702, USA

I think it depends upon the circumstances. If the owner wants to retire or is ill, or has other life circumstances such as a partnership breakup or divorce that prohibits him/her from continuing to operate the business, then an exit is what is needed. Yes, the value of a main street business is often only 2 to 3 years earnings. Unfortunately, many small business owners don't understand this until they reach the time they want to retire and are out of energy and in some cases, time, to change those circumstances. So the options are work until they die in the business or sell now. If they sell, hopefully they have other retirement resources. Also, keep in mind that many buyers of main street businesses (which this one is) WANT to buy a job because they are tired of working for someone else in a corporate job. Or perhaps they don't have a job because of a layoff and want to be in control of their destiny. There is nothing wrong with buying a business for the purpose of having a job. These small businesses employ the majority of people in this country according to the SBA.