Looking at buying out the service part of a business from a company I work for.

I have been approached by my employer, who is interested in selling me the service assets for the service part of his company, and allowing me to have full access to his sales customers to perform their service. He will continue to refer his smaller individual customers to me for service. I am the only employee of the service side of the business. There are also a large number of large very loyal customers which I currently service, non of which are under any kind of contract. My service is seperate from the sales part of the company. I have a good reputation in the industry working for this company, and am sure my service base will only increase as it has more than 30,000.00 over the last 3 years. Service receipts are currently around 90,000.00 per year. It is mainly a moble service business.



I have a great working relationship with my employer and have known he wanted to sell the business, but as a whole I thought, something I had no intrest including the sales side.



He has also approached one of the salesmen who is interested in buying the sales side, who is interested in continuing a joint company relationship with me, which is to both our benefits. He is working on terms.



The only assets of the service side are:

-2 year old service van, price new, 21,000.

-The inventory inside, approx 600-700.00.

-An in house inventory of new and used parts, value yet to be determined. Not sure I want much of these parts as most are old and not used.



I have never been in business for myself, and feel this would be a great start. Question,...

Am I missing anything I should be thinking about that may be a snag to all this?

via Small-Business-Forum.net http://www.small-business-forum.net/starting-your-business/9341-looking-buying-out-service-part-business-company-i-work.html