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system
Guest
Hello everyone, I am looking at purchasing an existing business, the pizzeria has been open for over 2 years now
and basicly just pays the bills with not much profit, if any at all ,at the end of each month. The current owner has many
holes in his business practices ex:no delivery, opens 6 days a week, closes at 9, as well as a sub par product.
What I would like to ask all of you is what is this busines worth? He is asking 68 thousand (Canadian) for the business
which in my opinion has an equipment value of about 16 thousand outside of fixtures and leasehold improvements that he couldn’t take with him anyways if he were to close tommorrow. However, if you were to factor in the fixture and
leasehold improvments the value is there.
The location is good, the demographics are good, I know there are no gurantees in this economy but it seems to have potential if done right .
My concerns are 1st The price, what is it worth? Considering he might be at his end. Is 45 Too much?
2nd Buying a failing shop, could it be turned around in a reasonable amount of time, or is there too much baggage?
3nd The economy, not that this particular area has been hit hard, but in general is it a good time to open?
Thanks everyone.
and basicly just pays the bills with not much profit, if any at all ,at the end of each month. The current owner has many
holes in his business practices ex:no delivery, opens 6 days a week, closes at 9, as well as a sub par product.
What I would like to ask all of you is what is this busines worth? He is asking 68 thousand (Canadian) for the business
which in my opinion has an equipment value of about 16 thousand outside of fixtures and leasehold improvements that he couldn’t take with him anyways if he were to close tommorrow. However, if you were to factor in the fixture and
leasehold improvments the value is there.
The location is good, the demographics are good, I know there are no gurantees in this economy but it seems to have potential if done right .
My concerns are 1st The price, what is it worth? Considering he might be at his end. Is 45 Too much?
2nd Buying a failing shop, could it be turned around in a reasonable amount of time, or is there too much baggage?
3nd The economy, not that this particular area has been hit hard, but in general is it a good time to open?
Thanks everyone.