Forums: Discussions for entrepreneurs and small business.

I`m interested in the thoughts from forum on this unusual opportunity.  I`ve found a sole proprietorship brick and mortar retail business (with internet sales also) that caters to police, fire, military and EMS customers.  The price is right, and FF&E and inventory account for about 75% of the asking price, and the owner`s customer base is substantial.  The problem is the owner`s lease runs out next month, and he`s ready to sell now.  I feel like I running out of time, but want to make sure I do the due diligence. 

Any advice on how to approach this opportunity?  Perhaps the forum has other suggestions...I`d love to hear them.

Walk away....

Never commit to a large investment if you do not have time to do proper due diligence.... NEVER, DONT EVEN THINK ABOUT IT.

You will miss something, become emotionally attached and driven, its just bad bad bad.

There are plenty of other opportunities to be found.

I can`t add anything to what burtonridr said. If you`re being rushed, particularly in a life decision like buying a business, then there`s a back story there you probably need to know. Walk away.

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Rich Sloan , Co-Founder, Chief Startupologist, StartupNation

(See, this is why Rich gets paid the big bucks!) :-D Excellent idea....!

Thanks Guys for the advice.  Rich, I think I`ll see what can be done to give me more time.  Otherwise, I`ll look for other opportunities.

By the way, I`m new to the forum and the website....great job and I appreciate the advice and information. 

Steve Olive

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Rich Sloan , Co-Founder, Chief Startupologist, StartupNation

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Rich Sloan , Co-Founder, Chief Startupologist, StartupNation

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If you want something you have to MAKE IT HAPPEN. No excuses. Take responsibility for your life. You have to push, push, push, and NEVER quit.

If you`re going to play the game, you have to know the rules.