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Buying an established business

3 replies

puffylovett · 12/12/2007 21:02

Hi, haven't posted for a while. Just wondered if any of you out there could offer some words of advice ?

I used to manage (very successfully) a small business. I left a few months ago when my maternity leave ended, primarily because i didn't feel i could work under my boss anymore (i put up with a good 2 years of bullying from her)

I've just discovered that she's put the business up for sale and would love to look into buying it. Having already run it successfully, i know that i could attract back the staff who would make it even more successful. However, i have no money (!) other than my house, which my partner is obviously reluctant to use, and of course i've never owned a business before so it's a daunting prospect to imagine. It's been running for 10+ yrs, with an excellent reputation, although the current owner is a consumate saleswoman and i wouldn't entirely trust her words for it - IYKWIM.

So - any words of wisdom out there ?
Much appreciated if you've taken the time to look at this

OP posts:
notjustmom · 12/12/2007 21:08

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puffylovett · 12/12/2007 21:16

hmmm.. how to persuade a bank to lend me 200k when i have nothing to my name.... other than my (mortgaged) house !!!

OP posts:
notjustmom · 12/12/2007 21:18

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