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Question about purchasing an existing buisness?

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  • Question about purchasing an existing buisness?


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Answer #1 | 20/12 2013 08:03
You need to find out more details on the carrying costs and the operating costs. For instance, if the franchise license (to use the TrueValue logo) is $6,000 per month and the property taxes are $2,000 per month, you have to add those in to your target budget when figuring your loan payment. A 30 year loan for $1m at 4 percent would be over $4770 per month. So, before you have even hired anyone or paid the light and heating bills, you'd need income or other access to a minimum of $12,770 per month just to break even, selling existing stock. More, if you want to finance new inventory. Talk to a business consultant to find out what the actual numbers are and what might be doable in your situation.
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