Buying a bidness

[Qusdahl]

So my golf homie illy is trying to get me to go in with him on buying this fishing bidness. Pretty sure it’s an online business with a serviceable presence, but also may include a brick and mortar shop too…established relationships, existing cash flows! Woo!

He’s all pushy and wants me to jump on a call RIGHT NOW, but I wanna do my homework first.

How do we buy a bidness? What questions do we initially ask and stuff? Could they just like, hand it over, like Madison Hotels?

And I started a thread about it too but this golf buddy has been kind of erratic and not necessarily the kinda dood I necessarily wanna team up with to pursue a career together, at least not with some come to Jesus moment first

[CrimsonNBlue]

Not legal advice, just my friendly message board thoughts: If I were buying a business, I would not seek and/or use the answers found here. At least not exclusively.

[Qusdahl]

Of course not exclusively.

Give me more credit than that bro!

I’ll also do a Twitter poll, duh.

[Qusdahl]

I’m just trying to think of general questions you’d ask for the initial cold call: what assets, what debts, what kinda stuff that I’ve frankly avoided thinking about since graduating bidness school cuz that shit’s boring.

And I figured only like 10% tops of the posts in this thread would be sincere advice, with the rest being derails and meltdowns and puns, but that much sounds fun too.

[CrimsonNBlue]

Before a cold call, some questions I would ask myself: why do I think this guy is selling, why does my buddy want to buy, why does my buddy want/need me? Other than you being the eye candy bait, of course.

[Deleted User 863]

I love story time!

[Qusdahl]

Yea, eye candy bait. Sex sells!

I think this dood is just retiring and selling his shop after like 45 years.

My buddy wants me in cuz we’re both fishing dorks who otherwise don’t like our career paths so far. He’s done sales, and I’ve done media, so it might be a good team.

But yeah he’s become kind of a weirdo who can be pissy and standoffish among other things, so don’t really wanna hitch my horse to that shit. But I also wonder if he would be more easygoing if he kicked his habit of 48 monster energy drinks a day, so there’s hope.

[Qusdahl]

I love story time!

Should I just post the website?!

[Qusdahl]

My buddy sent a screenshot of the sale listing which says “ultra modern” website but frankly it looks more to me like some windows 95 shit.

Which prompts another question: where are they getting all their leads and customers and shit? Dialup connections?

[KUTradition]

i’d want to know what the profitability is, and how that fluctuates seasonally

and do you and your potential partner have the skills/ability to improve on that, or is it even possible depending on the population and current clientele of the area?

also, what are the chances that operating costs are going to increase, and to what extent, in the future?

what kind of shape is the current building in? is it going to need substantial repairs in the immediate future? what’s the stock on-hand situation look like?

most importantly though, is there a food truck included?

[Deleted User 863]

I think if you don't know and can't figure out whether it's online or also brick and mortar then you probably have no business owning it.

[CrimsonNBlue]

Fuck it, YOLO. Your buddy seems like a real wild card, but there's potential there if you can find a way to get caught up in the Mexican drug and human trafficking cartel, make a shit ton of illegal money, and sell the TV rights for an Ozark sequel set in Colorado where your buddy is played by Rory Culkin and you are played by Shia LeBeouf.

A lot of prison-time but your kids will thank you later.

[Qusdahl]

just confirmed the brick and mortar already sold separately. Apparently they gonna turn it into a po’boy sammich joint.

So they’re just selling a online bidness and web domain and social media presence? And I guess some existing relationships with vendors and shit. I dunno about existing inventory.

So now my question to my homeboy is, for the price they’re asking why don’t we just put that creating our own dot net instead?

I guess established operations and existing cash flows are nice, and the annual numbers they quoted ain’t bad, but I also suspect it’s just Timmy in western ks from his AOL account…

[Deleted User 863]

Wow you're getting your info fast!

Story time is so much fun.

[CrimsonNBlue]

Wait, why is illy being a huge dick? n/m, i don't care.

Ous, did you tell him about the cartel thing?

[Qusdahl]

Yea, like I said, pretty sure illy would be doing himself a favor by weaning off the energy drinks.

[Deleted User 863]

Wait, why is illy being a huge dick? n/m, i don't care.

Ous, did you tell him about the cartel thing?

Did i make this thread and make up some dumb story about Qusdahl? Or was it the other way around?

Sorry for not playing along.

[Qusdahl]

Bro when I said you could derail this thread with meltdowns, it didn’t have to be exclusively that!

You also have the option of puns.

[Qusdahl]

Lemme help:

Why would anyone want to start a bidness that sold sammiches made of impoverished children?

[Deleted User 863]

Haha don't try to pin this off on me as a meltdown to distract everyone from the week or so long meltdown you've been having in the Russia thread (and everywhere else).

Me thinking a lot of your stories are mostly/completely made up isn't a meltdown.