Originally Posted by jimhri
WHY is the current owner selling?????????
do you KNOW the facts? maybe there is something you can learn from a truthful answer.
is the accountant you are meeting with yours or theirs? buyer beware.
early retirement eh? will you get a pension? does early retirement provide you with health care coverage?
can that pension be attached by someone else if your franchise goes belly up? are you protected?
Current owners are my mother inlaws cousin and her husband. They are in their mid sixties. They want to retire. The store I am looking to take over has two managers that have been with them for ten years. I have 401k. If I can swing it I plan to work 5 more years at my current job and hopefully take over all their ten stores they have. They are good people and I have known them for ten years since I meet my wife. They are actually my wife's godparents. The accountant is theirs and we are going to go over everything. They are at a point where they just check in once a week on the stores. So I am told. I am hoping this would run smoothly and be a easy income for my family. I have a few rental homes now for easy income but I don't want to stay in the rental business.