Posted by Cristina Gentzkow on March 07, 19100 at 23:18:57 :
I have an opportunity to purchase a seemingly viable catering business. The mortgage will be pretty high at 13% of current gross income. I'm wondering if anyone out there has bought an existing business and what, if any, negative consequences you experienced. For example, any loss of clientelle, problems negotiating a new lease, any unforseen issues that I should be aware of???? Any help would be appreciated.
Incidentally, I already own a fledgling company, about 4 months old. Does anyone have advice about whether to stick it out and build my own clientelle or would I be wise to buy up this business that would give me about 50K in state of the art equipment and clientelle.
Thanks a bunch.