Buying a Business....What's it worth?

MORPH3US

ScottySmog wrote: »

Not actually too wide of the mark Morph3us!

I had already investigated the "starting from scratch" route and this now appears to be the way forward.

Thanks everyone for their comments.

Make sure you have a business plan in place, get some help on it, there are loads of people around that can help you for free (i.e. on here, business link (if they have finished their transition yet, Universities etc)

M

lifecoach_2

As a business transfer agent and someone who values businesses everyday I can tell you how much the business is worth.............ABSOLUTELY NOTHING! Why would you pay £50k to take over the burden of losses. Perhaps he might find an idiot to buy it but it won't be you. He just wants £50k back because thats what he has already lost. My guess is that it will close down soon.

barrymung

COOLTRIKERCHICK wrote: »

this might sound sly.... but hay business is business.. why dont you start a similar business from scratch...( if this is the line of business you want to do )

An especially good idea seeing as the only potential competitor is "technically insolvent"!

You can pinch their good ideas, learn by their mistakes and not be saddled with any of their debt! Hopefully you'll aquire most of their customers too.