To purchase or not to purchase?

I need some opinions. I have been an at home baker specializing in custom cakes and cupcakes for about 3 years now. Even moving from one state to another during the 3 years and starting over with cliental.

Well, 2 days ago a local bakery propositioned me with the opportunity to purchase their business located in a local farmers market. The current owners have opened a full time building for their shop and don't have the time for the one in the market any longer. The purchase price is very reasonable and includes everything at the booth already in place. Also includes license and whatnot. The only thing I would have to do is start baking and bring in my own products.

I have looked over their numbers roughly and everything looks great and what I'm looking for as far as being a stay at home mom and just going to the market 4 days a week to sell my products. Everything would still be baked in my home and just transported.

Here is the dilema I'm facing. They opened up their new bakery within 1 mile of the market. One of my advisors that I have been speaking with thinks it maybe a bad idea as their current customer base will follow them being so close. The markets traffic is roughly 40,000 visitors a week, so there are lots of new client potential. I would also have custom cake dummies on display so that would be great advertising for that part of the business. I would also offer some different products then they did.

Anyway, I would love any feedback on this. So, please chime in. Thanks in advance.

Thanks for replying. Yes, I'm legal to sell out of my home, I have followed all the rules since the beginning, so that's not an issue.

The farmers market is a very high end place, this is not just a flea market. My booth would be inside and is open 4 days a week. Everything that is there now to run it would stay and they would transfer the food service license to me that is needed to sell there. There are no other bakery type shops aloud to sell there so there is no compition. I'm not trying to sell the designer cakes as much as just have my own business that pays my bills and from the numbers I have been shown so far (like I said, I have seen rough numbers, not the actual books yet) then I would be very happy if it continued to stay that way. Yes, I would have a couple of dummies out of designer cakes but that isn't my sole purpose there.

Can you give me a few reasons you think the markets are a ton of work? Not questioning you, I'm seriously asking why as I haven't worked in one yet.

Thank you for responding. Yes, it is legal to sell home produced goods at the market. (I live in OH). They actually started the business as a home baker as well so the license isn't out of a commercial kitchen (I've already asked that, lol).

Yes, I would bake at home and bring the product with me. Myself mainly and my family would all help out working the booth 4 days a week. Yes, coming home afterwards and baking for the next days event would be how I had to do it.

Again, thank you for your input. It is much appreciated.

Sale to include the following:

Federal Bakery Display Case, as is (non-refrigerated)
Residential Convection Oven (in great condition)
Point of Sale Counter
Computer Desk with shelves
5 Black Buffet
(2) Backless Stools
(1) Folding Black chair
Work Table with skirting and shelves
New Cash Register
Cupcake Banner Sign
(500) Cupcake Boxes and Inserts
Decorative Mirrors
Chalkboard
Black linoleum flooring
Broom
Food Service License transfer

My oldest is of legal working age. He would probably be my Saturday man for sure and then any days were they are out of school. So yes, he would be a huge help.

$3000 and 12 x 12.