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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

Fixated on buying a shop

27 replies

finduskrispycreme · 12/04/2021 09:42

I really want to buy a shop on my high street. I've changed the business details so as not to out me!

Let's say there's a dog grooming salon on my local high street. It's been there for years, I've got my dog groomed there and they do a great job, but no one else I know does. The reason is because the salon looks terrible, the owners are a bit peculiar and they do nothing to promote the company. For example, there's not even a Facebook page, let alone a website.

It's such a shame as there are loads of dogs in our town, more so since lockdown, but everyone I know drives to next town for grooming because this salon is a bit odd.

While I don't have specific salon owner experience, I know loads about dogs and grooming and the communities (online and offline) around it and really think I could make this grooming salon an asset for our high street. It's in a good location, surrounded by dog owners, and the premises is perfect.

I got made redundant a few months ago and have some money I could potentially invest in such a business. I know this salon isn't doing very well financially as have looked up financial records, but I think it's because of the reasons I've stated above. Just after my redundancy I spoke to them about working there but they couldn't afford to pay anyone at that time.

Is it massively cheeky to approach them to buy the business? I just can't rest thinking how good this place could potentially be but have no idea what the next steps should be.

As I said, this isn't actually about dogs or grooming but about a high street shop so please don't reply about dog grooming being oversaturated/cruel/whatever - I don't know anything about dogs or grooming!

OP posts:
crosspelican · 12/04/2021 09:48

Not cheeky at all.

I would definitely pay a financial advisor to support you and have the business valued. You need to know everything that is included and that could include their liabilities. For all you know, it could be unprofitable because they saddled themselves with a business loan years ago and the repayments suck up the money that they might otherwise need to improve the business.

Or they have a shit landlord who won't let them improve the premises (I had a family member in that position - landlord woudn't maintain the premises and the place was falling apart - family member stuck it out because it was a premium high stree location, but eventually the building was condemned). This could make it equally impossible for you.

Equally, it might have no encumbrances at all and you could find yourself with a lovely little business! It sounds like a lovely plan.

Original poster
finduskrispycreme · 12/04/2021 10:33

Good idea re. financial advisor. I can see (I think...) that the owner has been subsidising business for some years. I also have no idea who owns they building, I've tried to find out but can't see any record so wonder if it's theirs and that's how they can essentialy not make any money from it.

OP posts:
Overdueanamechange · 12/04/2021 10:36

So are you thinking of taking over the business as a owner / manager and employing the current owners as groomers?

SchrodingersImmigrant · 12/04/2021 10:38

Do you know where to find a staff which will do as good job as they are doing?

There are organisations helping women in business so have a look. Often offer free advice and workshops.

Owning a business is a beautiful HELL😂 Unfortunately it can sometimes be just hell. Have you actually spoken to people about the salon? Asked why they don't go there? It can be a money pit or a nice income. What it needs is REALLY proper research and learning

SchrodingersImmigrant · 12/04/2021 10:38

@Overdueanamechange

So are you thinking of taking over the business as a owner / manager and employing the current owners as groomers?
Ooooh. If this. I wouldn't 👀
BIoodyStupidJohnson · 12/04/2021 10:40

Sounds like a potentially good idea -- although there are two contradictory statements in your OP:

I know loads about dogs and grooming

I don't know anything about dogs or grooming!

DuchessOfBuggerAll · 12/04/2021 10:43

@BIoodyStupidJohnson

Sounds like a potentially good idea -- although there are two contradictory statements in your OP:

I know loads about dogs and grooming

I don't know anything about dogs or grooming!

If you read the OP you'll see that the OP is NOT considering dog grooming at all and is merely using it as an example so it matters not at all what she does or does not know about the grooming of dogs.
Ariela · 12/04/2021 10:46

If you don't know about operating that type of business, can you go work for the rival in the next town or are there any courses you can take to qualify you in this business eg if a cafe take all your food hygiene courses etc.

BIoodyStupidJohnson · 12/04/2021 10:49

Duchess Oh I see, gotcha, thanks

Original poster
finduskrispycreme · 12/04/2021 10:54

@Overdueanamechange no, I'd not emply the current owners.

OP posts:
Original poster
finduskrispycreme · 12/04/2021 11:02

@SchrodingersImmigrant great idea, I'll look into some women-specific orgs to see what support there is.

I've spoken to my friends and fellow "dog" owners. They agree that it's desperately needed in our town and such a shame this one is so weird. It's like those hairdressers with hairstyles from the 80s in the window. Very dated. It's closed at funny times, sells products that dog owners don't need and the owners aren't friendly or reaching out to the community around them.

The rest of the high street is bustling - it's a proper butcher, baker, candlestick maker type place.

OP posts:
FlaviaAlbiaWantsLangClegBack · 12/04/2021 11:03

Are there no other units available in this location or others? You're going to have to put a lot of effort into overcoming the current owners reputation at the same time as building up your business from scratch instead of starting with a clean slate. Even if you rebrand, people will still associate you with them.

You already know people will drive to the next town instead of going to this business, that implies they'd be willing to come to you even if you weren't in the same location as the current one?

Original poster
finduskrispycreme · 12/04/2021 11:05

@Ariela I have worked in a similar place but years ago and not at the business end. I'm keeping an eye out for job ops though.

OP posts:
Tal45 · 12/04/2021 11:10

Just make sure you're aware of all the overheads - running a buisiness can be very expensive headache, and a lot of hard work. I don't think there's anything wrong with asking them though, they might bite your hand off! Or if not they can just say no.

BrownEyedGirl80 · 12/04/2021 11:14

Can't you just go into competion with them at another premises? If noone knows about their shop you should do well

Original poster
finduskrispycreme · 12/04/2021 11:14

@FlaviaAlbiaWantsLangClegBack Yes, I've been looking. There are units available but not the layout/size I think it would need. If something similar size / layout came up I'd be interested.

OP posts:
Original poster
finduskrispycreme · 12/04/2021 11:16

@BrownEyedGirl80 I have thought about this and looking out for other premises. I am wary though. There is a strong community on the high street, many of the shops (includng this one) have been there for decades. While this salon doesn't appear to be doing well, I don't want to be the person who takes them down!

OP posts:
Springisspringing2 · 12/04/2021 11:19

Op you are not buying and owning the shop, merely the business within it.

Re doing up the shop.. Commercial leases are very very different to other types of lease.
Much of the onus is on you to repair and fix and maintain the property...

Always check the condition of the shop first... And what repairs you may have to do!! People rarely understand commercial leases!

HelpMeh · 12/04/2021 11:22

Ask but they may be happy bumbling along as they are. Have they given you any indication that they want to sell or aren't happy with the status quo? Are you likely to offend them? Will you need to find a new "dog groomer" if you aren't well received?

KoalaOok · 12/04/2021 11:23

Live your dream

FAQs · 12/04/2021 11:26

@Springisspringing2

Op you are not buying and owning the shop, merely the business within it.

Re doing up the shop.. Commercial leases are very very different to other types of lease.
Much of the onus is on you to repair and fix and maintain the property...

Always check the condition of the shop first... And what repairs you may have to do!! People rarely understand commercial leases!

This!
Original poster
finduskrispycreme · 12/04/2021 11:27

@HelpMeh - this is my worry! No indication that they want to sell, they never look happy and I am worried I'd offend them! Would need to find another groomer for sure!

OP posts:
HelpMeh · 12/04/2021 11:32

[quote finduskrispycreme]@HelpMeh - this is my worry! No indication that they want to sell, they never look happy and I am worried I'd offend them! Would need to find another groomer for sure![/quote]
In which case I'd approach it from an "if you're ever thinking of selling the business, please give me first refusal" angle.

Then it sounds less like you're calling them crap Grin

roundturnandtwohalfhitches · 12/04/2021 11:55

I'd set up myself. There's no need to go to the expense of buying someone else out. They are not putting much effort into their business so you are offering a different experience. Obvs we don't know what your business is but does it need a High Street presence? Could it be done on premises cheaper away from the main drag?

RestingPandaFace · 12/04/2021 12:01

If they have a poor reputation that may well be harder to come back from than setting up in competition.

It would be worth an approach but I think you’d have to carefully weight up the costs of taking over b’s starting up.