Hello,
I am the VP of a small-medium sized commercial laundry company in the very early stages of talking with the owners about the possibility of purchasing the business. It was not on the market when I came to the owners with my interest in buying and it is not now. My questions are (And im sure I can find the exact answers with a little more searching of the site, but wanted a little more specifics)
1: I will need to be financing close to $800k, I have heard but not confirmed that I will need close to 20% down. So basically im looking at what are the avenues for financing?
2: Good value of the company? I know there is going to be a estimator coming through to give value of assets on things like equipment and inventory, but Im interested to see how close I can come with my own evaluation. Its convenient that I already know the financial position the company is in. What are some ways I can estimate value using gross income or total revenue using our P&L statements?
3: Should I consider looking for a partner? Why and Why Not?
4: Private business loans from individuals? Should I consider getting a business plan together to present to individuals for Private Funding? I have a few people in mind that i think may be interested in investing.
I do have many more questions but this is a good start, any advise will be appreciated.
Thanks!
I am the VP of a small-medium sized commercial laundry company in the very early stages of talking with the owners about the possibility of purchasing the business. It was not on the market when I came to the owners with my interest in buying and it is not now. My questions are (And im sure I can find the exact answers with a little more searching of the site, but wanted a little more specifics)
1: I will need to be financing close to $800k, I have heard but not confirmed that I will need close to 20% down. So basically im looking at what are the avenues for financing?
2: Good value of the company? I know there is going to be a estimator coming through to give value of assets on things like equipment and inventory, but Im interested to see how close I can come with my own evaluation. Its convenient that I already know the financial position the company is in. What are some ways I can estimate value using gross income or total revenue using our P&L statements?
3: Should I consider looking for a partner? Why and Why Not?
4: Private business loans from individuals? Should I consider getting a business plan together to present to individuals for Private Funding? I have a few people in mind that i think may be interested in investing.
I do have many more questions but this is a good start, any advise will be appreciated.
Thanks!
via Small-Business-Forum.net http://www.small-business-forum.net/financing-your-small-business/10413-purchasing-company-current-employer.html
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