I spoke with a friend of mine (finance person on Wall Street) and she is going to sit down with me and go over all of the financials and teach me about what I am looking for and what are potential red flags. I spoke with her this morning - she knows the biz that is for sale and agrees with its potential (she has been a customer there for many years and knows the owner). She is also going to connect me with a biz lawyer.
I AM learning the biz end. I AM learning and trying to put together a biz plan. And I AM NOT making ANY decision until I see numbers. I still haven't gotten them. I am still waiting for those. I do have questions about where there expenses are going, whether they flat out own all of the equipment, what their debt is and all of that.
So, although I would prefer to have somebody else do all of that (after all who WOULDN'T), am doing it. I am not going to wait around for some knight-in-shining-armor to take care of it for me. I will learn dabnabit and know EXACTLY what I am doing. Plus, I think this is a test to see if I REALLY AM interested in doing this...because if I AM, I MUST know this stuff, right?
Too much, too fast.....quite possible. My DH has been looking into buying a biz for a few years, so this isn't an entirely new concept....we just weren't actively seeking it out. Now, having said that, I will learn what needs to be done and what needs to be known. I have been trying to educate myself about all of this and I SOOOOOO appreciate all of your input and feedback.
Keep it coming. I believe that everything happens for a reason and that it is high time for m to learn about the biz end of stuff. Even if this doesn't work out, then I am more prepared for next time and possibly starting from scratch. But I think the key thing is: I AM LEARNING IT!!!!
I am using that side of my brain. Just don't ask me which side it is