looking to buy a business i currently work for. 2 employees being me the shop tech, and the owner being the field tech. i currently make %50 labor in house shop commission as a 1099. If I buy the business I will take all the shop labor and shop parts expenses, rent, etc. The owner will branch off taking the field clients which I only service repairs taken to the shop. Im not concerned about him starting somewhere else and taking all the clients. Any business relationships will remain mostly the same as he will bring all work in to me in the furture besides software and network configurations he currently does.
Attached are the income and expense sheets i was given. The anomalies of jul and sept were eyeball figured out of the written data below which is what i would be taking over. As far as concrete data the shop takes in about 60k credit transactions for the past 3 years. He said cash would be 10-15k additional which makes sense. in house checks im not sure , but probably rather low. It could be true as there is a lot of payments mailed in I don't see , but I dont really see it making up the 115k gross total as in the report below written in pencil.
I get the shop inventory which is probably sub 5k. rent is about 375 mo. I currently take home about 27k a year.
In my eyes I will take on expenses, but effectively double my salary immediately strictly via labor, not to mention part sales, and its going to be the most turn key operation possible as nothing will really change.
We have not hired a broker to determine any values. I plan to pay him a flat price outright. He says he is being very fair, but obviously people overvalue their business. What would be some reasonable asking prices for this business. 10k, 50k, 100k, 200k? Or how many years should it take in additional revenue to pay off the investment.
Attached are the income and expense sheets i was given. The anomalies of jul and sept were eyeball figured out of the written data below which is what i would be taking over. As far as concrete data the shop takes in about 60k credit transactions for the past 3 years. He said cash would be 10-15k additional which makes sense. in house checks im not sure , but probably rather low. It could be true as there is a lot of payments mailed in I don't see , but I dont really see it making up the 115k gross total as in the report below written in pencil.
I get the shop inventory which is probably sub 5k. rent is about 375 mo. I currently take home about 27k a year.
In my eyes I will take on expenses, but effectively double my salary immediately strictly via labor, not to mention part sales, and its going to be the most turn key operation possible as nothing will really change.
We have not hired a broker to determine any values. I plan to pay him a flat price outright. He says he is being very fair, but obviously people overvalue their business. What would be some reasonable asking prices for this business. 10k, 50k, 100k, 200k? Or how many years should it take in additional revenue to pay off the investment.
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