Anyone have experience in buying businesses with n.m.d. Small business like retail stores like in a strip mall or something? I'd like information on any authors or the best way to learn how to do this. Thanks
2007-03-18 13:44:10 · 4 answers · asked by Tadow 4 in Business & Finance ➔ Small Business
Given the answers, I thought to add the rest of the story:
My intent is to convert salons (beauty) into a different type of salons. I do know an owner who wants to retire and still receive an income. So, if anyone has some experience with managing a transaction like this, I would appreciate it. Thnx
2007-03-18 14:18:32 · update #1
It is possible to do it. The owner is probably losing money or in a bad situation. They want to get rid of the business fast. However, they will never offer a no money down deal initially.
It all depend on your negotiation skill. And your experience in business.
Tony Fernadez bought over an airline in Malaysia with just $1. Because the airline is in a very bad shape, the owner is willing to let go at any price just to get out of the situation.
Of course, Tony Fernadez had to take over all the debts as well. With his experience in business, he turn the airline around.
Be sure you know what you are doing before you go into a no money down deal.
2007-03-18 15:54:35 · answer #1 · answered by skyjoe76 2 · 0⤊ 0⤋
You might want to know that a NMD retail in a mall is quick -sand..you are being set-up..the business is not making enough money for the hours they MUST employ people to stay open. The malls general lease says you MUST be open certain hours "come hell or high water". the curent owner is just trying to get out of that terrible lease..goodbye house , car, and shirt..if you don't.
If you break it or close shop they don't care if your name is on the papers...
2007-03-18 13:54:04 · answer #2 · answered by gvh 3 · 0⤊ 0⤋
nobody in their right mind is going to turn a store over to u---no money down...think about it...Only if u have a good bank account, own property or something to use for coolateral....
In each fair size town their is a business group called SCORE-find them-go and talk to them..they are usually retired businessmen, very street smart and knowledgeable-...they will set u straight on what u are attempting to do....
2007-03-18 13:52:05 · answer #3 · answered by bill the businessman 5 · 0⤊ 0⤋
nope. had a cafe' and i jes rented ye ol' buildin
had an online biz, withy no mula down and made a bundle
2007-03-18 14:14:22 · answer #4 · answered by deirdrefaith 4 · 0⤊ 0⤋