Point of Beginning

Buying a business

April 16, 2010

Posted By Jack Sawyer on 4/15/2010 at 7:14 PM

Question for those of you in the know...I have been licensed going on a year. I have been considering opening up my own shop out of my home vs buying a business from an established firm in a good location. The reason for this contemplation is that although I do work for a reputable firm I am still in the field with no end in site. I love the field, but feel like I'm not getting the requisite experience. I know it's not a good time, but my wife has a good job and I have some people calling me already to do their surveys.

The firm like the rest of us are barely scrapping by right now, but have been in business since the 60's have a great reputation but not many tangible assets. Older equipment, rented office, couple of vehicles, few cpus w/software. Owner is willing to finance most all of the price over a reasonable period of time, help with transition and be a mentor to me. The last fact I believe to be very important. Most business is based on subdivision and rural farm boundaries. What's it worth? I think he wants around 250,000 as a starting point. I think it's too much. Thanks in advance for the input.

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