The_Banker
Registered User
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- 342
There is a small leisure based business that operates near where I live and it is being run very badly from what I can see.
The opening hours are erratic and next week they are closing down for 2 weeks for the summer holidays.
The thing is, I can see a lot of potenticial in this business and if it was better run it could be highly profitable. When I say better run, I mean taking a few small steps to bring more customers in.
At the moment it seems to be a one man operation being run by an amiable chap close to or at retirement age and from what I can see he has no apetite for the business and is happy enough to let things slide as no effort is being made to bring in new customers.
I want to make him an offer to buy the business but I have no experience of doing so. As it appears to be so poorly run I don't expect he will have accounted turnover figures or if he does I don't expect them to be accurate.
It looks to me like this business is more of a hobby to the guy than a money making exercise so I am unsure of how to approach him. I don't want to pay over the odds but again if I make the approach I will be putting the ball in his court with regards to setting a price.
Any advice would be appreciated.
The opening hours are erratic and next week they are closing down for 2 weeks for the summer holidays.
The thing is, I can see a lot of potenticial in this business and if it was better run it could be highly profitable. When I say better run, I mean taking a few small steps to bring more customers in.
At the moment it seems to be a one man operation being run by an amiable chap close to or at retirement age and from what I can see he has no apetite for the business and is happy enough to let things slide as no effort is being made to bring in new customers.
I want to make him an offer to buy the business but I have no experience of doing so. As it appears to be so poorly run I don't expect he will have accounted turnover figures or if he does I don't expect them to be accurate.
It looks to me like this business is more of a hobby to the guy than a money making exercise so I am unsure of how to approach him. I don't want to pay over the odds but again if I make the approach I will be putting the ball in his court with regards to setting a price.
Any advice would be appreciated.