Doba's240

Hey guys today after work ive got a meeting with a guy whos selling his Stainless Exhaust business thats been operational for over 25 yrs now, ive been looking at this for a while, but this is my first meeting with the owner of the business, just interested in some feedback from you guys, like some questions you would ask him, ive got a list but im looking for something ive missed.
the more heads the more questions.
Thanks

Sil40_Mayhem

first, let me see if i can get this straight: ur planning on buying a stainless exhaust BUSINESS?? ***kin cool beans!

for a first meeting, i'm not sure exactly what kinda questions to ask, but i suppose i would ask some broad general questions about the business first before i got into specifics. i don't know much about running a business and whatnot (as my lame-o questions will reveal), but here's my questions:

- approximate customer base
- accounts/contracts w/other businesses (muffler shops, repair shops, etc)
- average annual advertising costs
- taxes on the business/property (and if any are owed)
- annual gross/net profit (i'd like to see the actual books instead of just being fed a line)
- current inventory
- current vendors
- business licensing (if u haven't researched it already)

that's all of the pertinant ones i can think of...

87camarodan

hmmm... you could ask if he would GIVE you the business instead of you paying for it...

well keep us updated,

Doba's240

ohh there are a cople good questions there dude
thanks
I convinced my dad to come with, hes got some experiance in this
Yeah wouldnt it be cool, IM gonna own a SS exhaust shop..
i hope

Sil40_Mayhem

that would be [cali] hella [/cali] cool!! u could very well have my business if ur gonna do mandrel bends.

-HyJynX-

awesum, good luck

Doba's240

So I went and had a look, i must say its not that bad, for a 3 garage place, there's a lift and a hole, 2 mig welders, hydraulic press, buffer, bender, but its not a mandrel bender i think id have to score one of those.
the building is being leased, and there are another two garages right next door empty so theres lots of room for expanding into 5 garages. not bad.
ill keep you guys informed on how its gonna go down

-HyJynX-

sounds good, good luck

l2aine

with that right there I'd suggest to talk to the landlord or owner of the building, find out the lease specifications, restrictions, and if they owner/buyer has any feedback on the person selling the business in the first place. You never know...