On Behalf of my parents, please give me your best advice!?!
From the start, my parents decided to invest in a Fast food take away, they bought it for ￡45,000!.At the beginning of the first few months, the taking was ￡600, after 9 months the taking is now on average ￡1100 (Not deducting bills and debts)!.
Basically, my parents are asking, should they carry on with the business or make a bigger profit!? They previously got an offer for ￡35,000 which is still valid!.!.
Any advice would do, Thanks for readingWww@FoodAQ@Com
Basically, my parents are asking, should they carry on with the business or make a bigger profit!? They previously got an offer for ￡35,000 which is still valid!.!.
Any advice would do, Thanks for readingWww@FoodAQ@Com
Answers:
This doesn't sound like a very profitable endeavor if I am reading it
correctly!. Yet if they have almost doubled the take in nine months
perhaps they can turn a profit in another couple years!.
But if you are saying that they still have to deduct expenses
from the 1100 then things must be tight!.
If they paid 45000 for it and now have an offer of 35000 that looks like a mighty big loss to me of 10000!.
It looks to me that the only way they can come out on top is to keep
it and build the business for a few years then sell for moreWww@FoodAQ@Com
correctly!. Yet if they have almost doubled the take in nine months
perhaps they can turn a profit in another couple years!.
But if you are saying that they still have to deduct expenses
from the 1100 then things must be tight!.
If they paid 45000 for it and now have an offer of 35000 that looks like a mighty big loss to me of 10000!.
It looks to me that the only way they can come out on top is to keep
it and build the business for a few years then sell for moreWww@FoodAQ@Com
Seeing as you are in the UK and I have no idea how the economical structures and buying patterns work over there, my best advice would be to keep the place unless they have something just as good, like another business, to fall back on!. They shouldn't have to sell their business for less than they paid for it because they established a customer base and built up the reputation, which someone who buys it would reap the benefits from!.
Don't worry about the American stock market right now!. If anything were to happen to our economy, the UK and EU are so connected and so far away from the US, they would be able to prepare before anything catastrophic happened!. And I don't see anything like that happening for at least 3-4 weeks!. The stock market is trying to work itself out and could possibly move it to a recovery state down the road if the issues get addressed!.Www@FoodAQ@Com
Don't worry about the American stock market right now!. If anything were to happen to our economy, the UK and EU are so connected and so far away from the US, they would be able to prepare before anything catastrophic happened!. And I don't see anything like that happening for at least 3-4 weeks!. The stock market is trying to work itself out and could possibly move it to a recovery state down the road if the issues get addressed!.Www@FoodAQ@Com
Sounds like they overpaid for it!. But that's water under the bridge now!.
As far as the "take" each month, it depends upon what their note is each month!. Does 1100 cover their payments and expenses!? If not, tighten the belt until you can sell it!. See if you can't negotiate w/ the person offering 35,000 for it, to maybe come up to 40,000Www@FoodAQ@Com
As far as the "take" each month, it depends upon what their note is each month!. Does 1100 cover their payments and expenses!? If not, tighten the belt until you can sell it!. See if you can't negotiate w/ the person offering 35,000 for it, to maybe come up to 40,000Www@FoodAQ@Com
I suspect they'd do well to get out of the business before they lose not just their shirts, but their knickers as well!. Www@FoodAQ@Com
I would get rid of it, the economy is not strong right now ^-^Www@FoodAQ@Com