How Much Should I Get Paid to Take Over This Business?
I'll fill you in with more of the story as this plays out, but I want to get the juices flowing here with a teaser:
Almost a year ago a family friend decided he wanted to sell his business
The business is a very usual and specific product for heavy machinery
He started it himself and was running it casually for years making $200k/ year top line
No marketing, no website, just connections and 2 trade shows a year
He has about $50k of product in his garage
The business had been put on pause with some health issues he had, so who knows how strong his relationships were still
He got cold feet and said he wasn't ready to do anything with it...
Cool, no worries
RECENTLY
He told me he was ready
it's been dead as a doornail for a while now
He wants to meet and discuss specifics
Question:
- How much would he be paying ME to take this business over? 🤔🤣