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Business Opportunity

  • 11-09-2007 9:47pm
    #1
    Tony255
    Registered Users, Registered Users 2 Posts: 420 ✭✭


    Hi,

    I have been offered to buy my brother's share in a centra store in west cork he is emigrating and owns 50% of the business the other 50% is controlled by a silent partner. I work in manufacturing and would know very little about this business but would be eager to learn and think i would find it much more challenging than my current job which is great for me. the business is in a pretty good shape and makes a nice profit. My question is has anyone done anything similar and what do they think the main risks are. I would be going from a team environment to one where i would be making all the decisions on my own and that kinda freaks me out a bit but i know i could handle it.

    cheers
    Tony


Comments

  • #2
    ircoha
    Closed Accounts Posts: 2,290 ✭✭✭ircoha


    Tony255 wrote:
    Hi,

    I have been offered to buy my brother's share in a centra store in west cork he is emigrating and owns 50% of the business the other 50% is controlled by a silent partner. I work in manufacturing and would know very little about this business but would be eager to learn and think i would find it much more challenging than my current job which is great for me. the business is in a pretty good shape and makes a nice profit. My question is has anyone done anything similar and what do they think the main risks are. I would be going from a team environment to one where i would be making all the decisions on my own and that kinda freaks me out a bit but i know i could handle it.

    cheers
    Tony
    Will reflect on this over the next day or so but the following are relevant now:
    Is there a partnership agreement which sets out clearly how the silent partner can exit?

    If this is a franchise that has not been bought out: can the bro just walk out and you walk in?

    Do the individual tills get reconciled each day by cashier?

    As the silent partner will be awol, you will the only 'owner' on site and u will need eyes all over you if u are not to get [hypothetically] fcuked over big time by dishonest staff, their family members, not to mention plain shoplifting. The hours will be horrendous
    :(:(


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