View Full Version : buying a freind out of business
07-11-2006, 12:40 AM
i got a freind who is in business and is looking to get out. Now at the current time i dont have a lota cash (liquid money) i think i could get everything from him for 20k i was thinking making a payment type thing? Do you think this could work or no?
07-11-2006, 12:47 AM
What do you mean by liquid money??.............Do you have a warehouse full of beer?
07-11-2006, 01:10 AM
he means how easy it is to get cash out for something. Econ classes.
07-11-2006, 02:01 AM
Yes, with a well written contract.
07-11-2006, 04:23 PM
find out from his customers first if they will keep you after you buy out his business... It will suck to buy the business, then have the customers drop you for someone else..
What I did when i bought 20 yards several years ago was....... I helped they guy who i bought the yards from ... helped him cut grass, and while we cut, he introduced me to the property owner. He told them the situation and asked if it was ok... Everyone of them said yes...
Just dont want that to come back and haunt you later for not asking first.
Plus....... dont pay more that 2x's the value of one yard per cut.. if i have confused you, i can explain more later tonight...
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