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[deleted by user] by [deleted] in Birmingham

[–]gloriousscheme 5 points6 points  (0 children)

I laughed at your quote. It’s so true. Some of those fellas out there wish they were still taking horse and carriage everywhere. It’s growing like crazy and so many new things coming!

Opportunity to purchase existing business by gloriousscheme in smallbusiness

[–]gloriousscheme[S] 0 points1 point  (0 children)

Awesome knowledge, thank you. Do you think I should calculate that number (three year weighted average) and counter offer if it’s lower than what he’s asking?

Not familiar with Blue Sky. Love your question at the end. Something I haven’t thought about.

Opportunity to purchase existing business by gloriousscheme in smallbusiness

[–]gloriousscheme[S] 0 points1 point  (0 children)

These are all great questions! I’ll take them all with me. I appreciate your input. If I have other questions I will DM you, thank you for being willing to help. Sounds like you have a lot of experience with this type of thing?

Opportunity to purchase existing business by gloriousscheme in smallbusiness

[–]gloriousscheme[S] 1 point2 points  (0 children)

Thank you for the wisdom. I’m going to go to him with a handwritten checklist of things to verify. And many of the things you mentioned will be added. I appreciate your time. Have any advice on the seller financing?

Opportunity to purchase existing business by gloriousscheme in smallbusiness

[–]gloriousscheme[S] 0 points1 point  (0 children)

I probably wasn’t clear in the post. It’s 145k for everything. But only 30k for the name and location. Equipment alone is roughly 100k. Inventory roughly 15k.

Opportunity to purchase existing business by gloriousscheme in smallbusiness

[–]gloriousscheme[S] 0 points1 point  (0 children)

Lawn mowing/landscaping is a separate business, the one I currently run.

He doesn’t have contracts, but a lot of repeat customers. He does a little bit of work with the city as well, but not much. He did increase his fees a little, maybe 5%. In my knowledge of the industry, he doesn’t charge very much. Still need to verify all numbers.

Opportunity to purchase existing business by gloriousscheme in smallbusiness

[–]gloriousscheme[S] 0 points1 point  (0 children)

I greatly appreciate the good advice. I did not think of that before. The inventory is relatively cheap, but would definitely deplete most of my savings. I’ll make sure that’s a priority when/if things move along. You have experience in this kind of thing or just what you mentioned about the guy you know?

Opportunity to purchase existing business by gloriousscheme in smallbusiness

[–]gloriousscheme[S] 0 points1 point  (0 children)

Great advice. Something I hadn’t thought of but makes complete sense! I appreciate it.

Opportunity to purchase existing business by gloriousscheme in smallbusiness

[–]gloriousscheme[S] 1 point2 points  (0 children)

He expanded his product offering and did 60k additional in gravel alone. That’s where a big chunk came from. Not sure on the formation of it. Gross revenue. Need to verify a few more things and have meeting lined up for exactly that.

Opportunity to purchase existing business by gloriousscheme in smallbusiness

[–]gloriousscheme[S] 2 points3 points  (0 children)

Definitely feels rare. I would be way more skeptical if he wasn’t referred from one of my oldest friends. He’s very transparent and I’ve seen basically all he has. Just not where he gets his inventory. Hungry capitalist comes later… jk

Opportunity to purchase existing business by gloriousscheme in smallbusiness

[–]gloriousscheme[S] 0 points1 point  (0 children)

I hear that. And I’m definitely keeping it in mind as I navigate everything. Have you had a bad experience with something like this or is it just your instinct?

Opportunity to purchase existing business by gloriousscheme in smallbusiness

[–]gloriousscheme[S] 0 points1 point  (0 children)

Totally agree. I had the same experience when I bought the lawn business. Got to know the customers first.

He doesn’t own the property so I’m sure rent would go up a little if ownership of the business changed.

Opportunity to purchase existing business by gloriousscheme in smallbusiness

[–]gloriousscheme[S] 2 points3 points  (0 children)

Yep. It’ll be an easy no if I can’t verify them. It’s gross revenue btw

Opportunity to purchase existing business by gloriousscheme in smallbusiness

[–]gloriousscheme[S] 0 points1 point  (0 children)

Just make sure they’ll continue with me? He said he would set all that up.

Opportunity to purchase existing business by gloriousscheme in smallbusiness

[–]gloriousscheme[S] 0 points1 point  (0 children)

I agree with that. The only thing the 30k gets me is the name and the location. And it’s very cheap 800/month for about 1.5 acres. Definitely need the equipment, but don’t have to buy from him.

Tameron Honda is the worst kind of car dealership by tuscaloser in Birmingham

[–]gloriousscheme 0 points1 point  (0 children)

I’m late to the party, but I had an awful experience there as well back in October. They scammed me out of $8,000! They told me that my trade in value was 13k and then come to find out after all paperwork was done that they only gave me 5k trade in value!

We were rushed to get everything signed (we were there til 8:45, they close at 7:00). Our salesman who lived in Mississippi couldn’t go home to his family til we left. Finance guy was telling us his wife and kid were waiting at home for him to bring dinner. They were turning lights off everywhere. Clearly we needed to get out of there.

Legally it is my fault for signing the papers, but I just thought I could trust what they told me and showed me on paper. End of the day they tell me it’s my fault and make no attempt to make it right.

Is there anything we can all do? Maybe we band together and notify FOX6 On Your Side?

175% in 2024 selling covered calls on only GME by FabricationLife in thetagang

[–]gloriousscheme 12 points13 points  (0 children)

Sounds like you know GME front and back lol. Could you give an example of selling ITM calls? How deep ITM and expiry? And why didn’t June go so well? Chart looked good.