Buying a Business

[Lance]

Not going to be exactly the same with your potential garden centre, but certainly you'll have to get your head around a lot of targeted advertising and such, if you want to succeed.

the garden centres near me make a mint on the coffee shops and Santa's grotto. They are huge though (multi-millions just in real estate).

OP pointed out that he knows landscape gardening. That would surely make a better business than a shop. You cannot get good gardeners.
All I want is someone to turn up every other week, do the weeds and plant 'stuff' that's colourful. A business model I've looked at is where a head gardener does the 'here's the stuff to plant' and send the minimum wage oiks out to do the donkey work.

And then I remember my advice from earlier and get back to work.

[Lance]

I suspect it currently isn't profitable.

It's being sold because the current owner has another business that is taking up too much of his time. And, yes, it probably does need turning around - there's no online presence at all at the moment.

I'd have thought looking at the books would have some kind of leverage in negotiating a price and also give me insight into all his outgoings too.

The thing that slightly concerns me initially is that it's on land owned by another business, effectively a concession. Not sure how that relationship would evolve.

a business without assets, making a loss, and you want an accountant's opinion on it's value?
It's worth f*** all.

If you're interested then take a look at the books, calculate how long before he goes bust and offer to take it over and get him out of the rent contract. For free.

[Big Blue Plymouth]

a business without assets, making a loss, and you want an accountant's opinion on it's value?
It's worth f*** all.

If you're interested then take a look at the books, calculate how long before he goes bust and offer to take it over and get him out of the rent contract. For free.

I'd be buying the buildings and all his stock.

[Big Blue Plymouth]

the garden centres near me make a mint on the coffee shops and Santa's grotto. They are huge though (multi-millions just in real estate).

OP pointed out that he knows landscape gardening. That would surely make a better business than a shop. You cannot get good gardeners.
All I want is someone to turn up every other week, do the weeds and plant 'stuff' that's colourful. A business model I've looked at is where a head gardener does the 'here's the stuff to plant' and send the minimum wage oiks out to do the donkey work.

And then I remember my advice from earlier and get back to work.

Age isn't on my side...

[BrilloPad]

a business without assets, making a loss, and you want an accountant's opinion on it's value?
It's worth f*** all.

If you're interested then take a look at the books, calculate how long before he goes bust and offer to take it over and get him out of the rent contract. For free.

+1

A friend of mine owned his brother-in-laws restaurant that was running at a loss. He thought he could always sell it.

It was worth nothing. Caused him to divorce from his wife who supported her brother.

[Lance]

Age isn't on my side...

you do the head gardener bit and drive the oiks round was the idea.

[Lance]

I'd be buying the buildings and all his stock.

buildings on land you don't own aren't worth much unless you can get a decent lease. Although there may be some value there.

What I know about retail is that the only stock that's worth money is the stock that the customers are taking away. If they're not taking them you're a warehouse not a shop.
So be very cautious about applying ANY value to stock that isn't selling. And if it is selling then the business shouldn't be losing money.

[Big Blue Plymouth]

you do the head gardener bit and drive the oiks round was the idea.

Don't have many of then in Dorset ;-)

But, yeah. Buying a pick up with some kit, and employing a couple of young scrotes might have some mileage.

[Lance]

Don't have many of then in Dorset ;-)

But, yeah. Buying a pick up with some kit, and employing a couple of young scrotes might have some mileage.

You can pay 16 year olds with cider in Dorset I understand.

[Big Blue Plymouth]

You can pay 16 year olds with cider in Dorset I understand.

Doesn't seem to be anyone under the age of 70 round here

Just as well Yeovil's just across the border. An endless supply of young oiks there....