Hi all. I currently work for a small business (4 employees), and my boss is nearing retirement age.
Since I have been here the longest he offered it to me and I eould pay in installments.
I am leaning towards not buying it, but wanted a second opinion (or however many I get). I don’t know the first thing about evaluating a business deal and I doubt I could afford a contract lawyer. Also he has all these stipulations for selling (i.e. I told him if I did take over I would want to make everyone remote, he says he wouldn’t sell unless it was in the contract that the office stays open). Any thoughts/advice appreciated.
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What was his asking price? And what kind of boss is he: nice/charitable/scammy/on the money. Translate his character into your evaluation of the business. If somebody is on the money, and suddenly doesn’t know the numbers, you can reckon that he does this on purpose.