buying a design company
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- pufeta
i need some advice. a friend of mine wants me to go into busines with her and buy a design/print company. But i am a bit afraid. here are the details:
1. i got the company expenses
2. salays
3. client-tell list
4 sales taxes
5. profitsbut what else do i need to make sure of in order to proceed. I have a mortgage I have to worry about and she doesn't.. so she is a bit more willing to do it than i am. She is, as every one starting a business is, convinced it will do fine and we will make money. The company now is working and in business for 12 years. yes it generates money and there is a flow of clients but there is always a chance. what about if one of our major client leave us? then what...
Can anyone give me some helpful advice cause i am confused...
thanks in advance!
- ms790
well if you got the
"2. salays"
then ur all cool right ;-)
- pufeta0
we have yes, our two salaries and then 2 other people....
- zedvox0
don't do it if you are half hearted about it.....
- spendogg0
You really want to make sure that overhead + salary projections are accurate against cash flow.
- brundlefly0
tough call, you'd have to romance the old clients upon takeover, and work really hard to move it forward in developing new business.
if there is a chamber of commerce in your town hit them up with free printing options for access to their newsletter, you cant expect to draw a salary off a small business for the first 2 years, if this ones numbers are good, and you are willing to do the work, you can make it fly.
- pufeta0
thanks guys. i really appreciate all your advice. I want to go for it but with a mortgage i am afraid i wont make ends meet.. my partner is convinced but fear has taken me over..
thanks!
- ribit0
and make sure you have really good company statutes and shareholder agreements... important stuff, especially if you want to sell it onward later.
- pufeta0
thanks!!!!!!!! so much
- ********0
What do you worry about!!
Jump into it with both legs.. and if they should break because a fall, you will just get them fixed and before you know it you are up and running again..
You will regret it for a long time if you don't do it!!
Everytime your boss bitch at you, you will wish you would taken that chance to start your own.. trust me!!
And yes it's alot work, but at the end of the day it is very rewarding!!
- pufeta0
to designerror:
Can I just start off by telling you thank you! I needed that!you are right. what the hell!
thanks! and when I open the doors to my business u are invited!!!!thanks to all of u!
- ********0
there's a lot to it even more than what you listed. non-tangible things that will keep you there 20 hours in a day, but good luck :)
- pufeta0
and now the fear makes its view again