Forums: Discussions for entrepreneurs and small business.

I currently work for a company who is thinking about selling out one of their stores. This store is in one of the most upscale neighborhoods in Michigan, it has the potential to be a gold mine but it has been severely neglected the last few years and with a little TLC and business sense(which the current owner lacks) the store will immediately have an increase in profits and revenue.

The problem is that I`m 20 years old and do not have much collateral at all, though the business is profitable and making around 175k/year in revenue, with 50k+ in collateral worth of equipment. I don`t have bad credit, infact I always pay early on all my payments(car loan, insurance, phone bill, credit cards, etc.), though I doubt this is enough to secure me the kind of loan I need.

What kind of options do I have? Any suggestions? If more details are needed let me know.

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Robin Lucas, CEO
MYSS, LLC- Creator of Chic Peeks Adhesive Cleavage Covers
www.ChicPeeks.com
"Ladies, this ain`t your mamma`s dickie"

You never know what`s available. Never. Obviously it`s not a priority for them. How do you know they won`t sell it to you and finance the sale? Maybe nobody else wants it. Sometimes, people are looking for a protege to pass off their baby to.

I know a successful leather bag manufacturer in CA. She`d been working as their book keeper for 16 years. Sure, she had a track record but she`d never worked in operations. The company was sold twice during her tenure. Each time she told the principals she wanted to buy it. Finally, the last time it went up for sale, the current owners sold it to her and financed the sale. The story inspires me because I have NEVER seen a woman so in love with her job. She`s tiny, only 14 stitchers but she makes top quality leather bags in the U.S and she`s doing great. Very nice products too, very well made.



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~Nurture people, not products~
http://www.fashion-incubator.com

Thanks Kathleen! I needed that little tidbit of encouragement. ...

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Robin Lucas, CEO
MYSS, LLC- Creator of Chic Peeks Adhesive Cleavage Covers
www.ChicPeeks.com
"Ladies, this ain`t your mamma`s dickie"