Need opinions from the smarties of M1R! - Page 2 - 2003-04 Mach 1 Registry Owners Club

mach1 03 · 10-31-2009, 06:26 PM

You need to look at how much the business brigs in a month and how much it cost a month to run salaries, insurance, utilities, maintenance, etc. you also should find out what debt the business has and if it is in the business name or the current owners name. Make sure that you have in writing all of the equipment that comes with the business and make sure it is all paid for. And finally get a look at the books for the past few years and find out what kind of profit is being made.

Good luck.

KEVINC66 · 10-31-2009, 08:04 PM

Just saying the obvious,why would he want to sell something that was profitable....................................Kevi n.

Lonestar7 · 10-31-2009, 09:36 PM

Danger Danger Run he's running a shady business and is setting you up as the future sucker! Invest in an education like an MBA and make real money. This guy is looking to unload on you. Sound like he knows something is going to change business wise and looking at you to fund his exit. No one sells a business that is sucessful. Start your own detail business and make your own risks if thats what you want to do. At your age go for flexible things and get more education and you will be sucessful. I think deep down you know your being played.

LS

mach1 03 · 11-01-2009, 12:44 AM

I disagree; people do sell businesses without there being a problem. I have a friend that is in the process of spending 3 million for a business that is owned by one person. According to you they are going to get taken because nobody sells a profitable business? If he does what I said he should be ok, but there is always a risk. Starting his own business most likely would cost him more than what he will be paying. You have to find a location, buy equipment, hire workers, advertise, and hope that the business starts to make a profit fast before you lose your shirt. By buying one you can build on what’s there, which is why you have to know what is there it has not turned a profit in several months than there is no reason to buy it. Btw I left out a few things earlier, you also need to look at the location and determine if it is in a visible location and you need to find out if there are any law suits pending which could be a reason for selling it.

GreatOne99 · 11-01-2009, 08:35 AM

if he was making money he would not need to dip into the bus accout to get brakes fixed imo ,y sell something that you make money doing nothing it dont add up

nicksmachy · 11-01-2009, 10:30 AM

Quote:

Originally Posted by GreatOne99

if he was making money he would not need to dip into the bus accout to get brakes fixed imo ,y sell something that you make money doing nothing it dont add up

He does that to use it as a write off for taxes. "Vehicle Maintenance for the business"

10-31-2009, 06:26 PM	#26
mach1 03 Registered User Join Date: Apr 2007 Location: Baltimore, MD Posts: 2,780	Re: Need opinions from the smarties of M1R! You need to look at how much the business brigs in a month and how much it cost a month to run salaries, insurance, utilities, maintenance, etc. you also should find out what debt the business has and if it is in the business name or the current owners name. Make sure that you have in writing all of the equipment that comes with the business and make sure it is all paid for. And finally get a look at the books for the past few years and find out what kind of profit is being made. Good luck.

10-31-2009, 08:04 PM	#27
KEVINC66 Registered User Join Date: Oct 2006 Location: Corpus Christi, Texas Posts: 945	Re: Need opinions from the smarties of M1R! Just saying the obvious,why would he want to sell something that was profitable....................................Kevi n. __________________ 2000 GT vert,03 Mach1 engine,auto, shaker hood,Mach1 brakes,C&L CAI,K&N,Tokico D Spec,UPR Coilover K frame with Steeda front sway bar,rear upper and lower control arms,4.30's,FRPP aluminum DS,17x9 deep dish chrome Mach1 rims with 275x40x17 Fuzion Z1's,Mac Catbac with 3 1/2 chrome tips,honeycomb rear panel,front Mach1 chin spoiler,Mach1 grill delete kit,polished aluminum gas cap.

10-31-2009, 09:36 PM	#28
Lonestar7 Guest Join Date: Apr 2007 Location: Denver, CO Posts: 3,152	Re: Need opinions from the smarties of M1R! Danger Danger Run he's running a shady business and is setting you up as the future sucker! Invest in an education like an MBA and make real money. This guy is looking to unload on you. Sound like he knows something is going to change business wise and looking at you to fund his exit. No one sells a business that is sucessful. Start your own detail business and make your own risks if thats what you want to do. At your age go for flexible things and get more education and you will be sucessful. I think deep down you know your being played. LS

11-01-2009, 12:44 AM	#29
mach1 03 Registered User Join Date: Apr 2007 Location: Baltimore, MD Posts: 2,780	Re: Need opinions from the smarties of M1R! I disagree; people do sell businesses without there being a problem. I have a friend that is in the process of spending 3 million for a business that is owned by one person. According to you they are going to get taken because nobody sells a profitable business? If he does what I said he should be ok, but there is always a risk. Starting his own business most likely would cost him more than what he will be paying. You have to find a location, buy equipment, hire workers, advertise, and hope that the business starts to make a profit fast before you lose your shirt. By buying one you can build on what’s there, which is why you have to know what is there it has not turned a profit in several months than there is no reason to buy it. Btw I left out a few things earlier, you also need to look at the location and determine if it is in a visible location and you need to find out if there are any law suits pending which could be a reason for selling it.

11-01-2009, 08:35 AM	#30
GreatOne99 Guest Join Date: Jul 2005 Location: groveland ma Posts: 391	Re: Need opinions from the smarties of M1R! if he was making money he would not need to dip into the bus accout to get brakes fixed imo ,y sell something that you make money doing nothing it dont add up

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