Hi all. I currently work for a small business (4 employees), and my boss is nearing retirement age.
Since I have been here the longest he offered it to me and I eould pay in installments.
I am leaning towards not buying it, but wanted a second opinion (or however many I get). I don’t know the first thing about evaluating a business deal and I doubt I could afford a contract lawyer. Also he has all these stipulations for selling (i.e. I told him if I did take over I would want to make everyone remote, he says he wouldn’t sell unless it was in the contract that the office stays open). Any thoughts/advice appreciated.
Personally I think if you can negotiate a good deal, you should take it. Example for every stipulation he adds, ask for a reduction in price.
Paying in installments is great, you won’t need to take a loan and if the business is profitable you are just printing money without worrying about anything.