Other - Local Businesses. You Have Just Been Asked If You Want To Take Over A Should You Do?
Other - Local Businesses. There Is A Bakery Near Where I Live, But I Have Absolutely No Experience In Owning And Running A Shop Of Any Description. F
Other Local Businesses : You Have Just Been Asked If You Want To Take Over A Should You Do
There is a bakery near where i live, but I have absolutely no experience in owning and running a shop of any description. ~~~ tigeral41 ~~~
Best Answer To Other Local Businesses Question
Then why did they ask you?? Well I would do it, you'll gain the experience and something to put on your resume, and more money. Learn something new!
All Answers To Other Local Businesses Questions
Answer 1Then why did they ask you?? Well I would do it, you'll gain the experience and something to put on your resume, and more money. Learn something new!
Answer 2First and foremost, I have to make a research and thorough studies about the proposed business upon have to know and conduct project feasibility studies about what is being asked of that is the time that I gauge my resources to accelerate a business that is worth it and profitable enough.
Answer 3If this is something you want to do , go for it. There are lots of people who run businesses and have no-clue when they go into it. Their best advise? Hire good people. Hire people who have done this before. Hire them on a consulting basis, if you have to. Get someone with food-service business experience. Let them be your manager. Get someone with an interest/degree/experience in baking. Let them be your kitchen manager. Be open minded when they make changes or suggestions. If this is what you want to do, go for it. Just don't be big-headed ;) Surround yourself with people who know about the industry!! Learn all you can!
Answer 4There are MAJOR gaps in the overview here !! "Taking over" a business can mean a number of things--- then you mention -- never "owning" a business of any description---Are you being asked to step in and OPERATE this business on a management level OR take the business over as in OWNING the business---??--- If anyone is asking you to operate a business at the management level knowing that you have no experience in this--- there is some question as to the MOTIVES involved here on the part of the individual making the suggestion here !! And, those motives could run the gambit --- from and to -- have you known this person for very long ?? Do they know of OTHER business experience that you have ?? There is a lot here that doesn't QUITE meet the eye !!! AND, if it is a thing of wanting you to step in as OWNER ---- whoa Charlie Brown--- something is REALLY up here--- what is the total situation ??---- what kind of financial condition is this puppy IN ?? what kind of debt load is this place carrying ?? And, what would be the true nature of your ASSUMING the business ?? Far too many questions here with SO little to go on !! For a more detailed answer---post a detailed question ---and THIS ONE BEGS FOR THAT !!!!
Answer 5"Then don't buy it" But if you think it's agood idea, you can always have the existing owner stay on for a year and show you what to do. Look at how much sales are and the profit (excluding what the owner pays himself. That should give you an idea of what to pay for the business. (1X or 2X sales or 5x profit) What does the business come with (equipment) Is the store leased (or does the owner own it) ??Why do you want to buy this place again??
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