Hi guys, my name's Chris and this is my first post on this site. I'm 25yrs old and I've been working for a fence company for the last 3 years. I went to college at MSMC and have a bachelor's in business management. I have six overall years in fence and am confident in my abilities and potential. My boss has an interest in selling the business sometimes soon, and I have an interest in buying it. We've discussed the matter and he knows my intentions. As of right now, he's figuring out how much inventory is around the shop and hopefully his next step it to hire a professional appraiser. I am very eager to make this happen, and have talked to many professionals, gaining their insight on my situation. But I've never bought a business before and I don't know what the terms would be on a contract like this. My proposal is the following and these are all estimated figures. Seller - Dave Company - XYZ - Dave is the owner of XYZ, his wife Donna is the secretary, I am the foreman and at any given time we can have anywhere from 1-4 helpers. Dave and I are often at the jobs together, creating a very efficient operation. We do many residential jobs are often say no to jobs that involve risk. We work m-f and do approximately 150jobs a year and generate about $500,000 revenue, profiting nearly $125,000est annually. Operating this way the estimated cost of XYZ- $300,000 To finance the deal, this is my proposal. Instead of having Dave in charge of estimates, leads, ordering, inventory, hiring; we have Donna in charge of those things. Donna was the manager of a grocery store for many years and is full capable of having a bigger responsibility with us. Now we have Dave running the residential crew, I run a commercial crew and instead of doing 15 jobs a month, we're doing at least 20. Allow longer days of work, and allow Saturdays or Sundays. Now we do approximately 200 jobs and generate $650,000 in revenue and profit nearly $150,000est annually. The difference in the profit between the years moving forward and the averaged annual profit over the ten previous years, goes towards the cost of the business. We do this until the business is paid off which would be anywhere from 5-10 years. Does this sound like something my Dave would sign up for? Is this a common way businesses are purchased? Any advice would be appreciated! I'd love to talk to someone who's been in my shoes before.