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Old 11-25-2019, 09:26 PM
Art Freas Art Freas is offline
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Join Date: Aug 2014
Location: Washington
Posts: 594
Art Freas is on a distinguished road
I bought our shop turnkey a little under 5 years ago. Things that made me agree to buy it.
1) Financials, I had the books to look at and understand the cash flow of the business.
2) Agreement of support from the owner for a while to learn and understand the business of a shop, very different from blowing glass. Renting time isn't rebuilding holes, getting electric fixed, learning about the cycle of the business... Offering support
3) Repeat business, knowing what repeat and steady customers the shop had was a big factor in being comfortable in buying.
4) The owner did not finance and I wouldn't have done that. You need to support the new owner but be independent from them.

Note that I was a student at the shop and it was either buy the shop or the shop would have closed and I thought that would be a loss. Keep in mind that I worked at Microsoft at the time and Microsoft pay made it a lot more possible.

Hope some of this helps.
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