as many of you know i have had 3 strokes and just barely get around any more. i am thinking about renting my shop and business out for $1000.00 a month plus phone & utilities. is that a fair price?
Posted by Dave Grundy (Member # 103) on :
Jimmy...If you mean the use of all of your facility plus the equipment then it is a bargain for the person renting. IMHO
Posted by jimmy chatham (Member # 525) on :
Dave that is for the whole shooting match. thanks
Posted by Doug Allan (Member # 2247) on :
do they get your customers too? Sounds like a novel idea either way. Will this arrangement help maintain the value of your business for selling it in the future?
Do you hope to be taking over full time use again at a later date?
Would you consider getting a business partner that could pay $1000 per month (on top of a down payment) twords the purchase price of their 49% of the business, & you could be available for an agreed upon amount of guidance &/or office work to earn your percentage of the profits. Then at a later point in time maybe this person will want to buy you out entirely if you want to do that.
Posted by TransLab (Member # 470) on :
I think if you included leasing yourself as a 'consultant' in that deal, you could double the price..
Best of Luck Jimmy
Posted by Sunny Holtzlander (Member # 4012) on :
Of course the devil would be in the details of the agreement.
I would worry about the maintenance of the equipment.
What if the equipment broke due to improper treatment of the renter?
This idea would work, as long as everything was written in stone.
I'd hate to see you lose on this deal because of something "omitted" in the writing.
Posted by Rick Beisiegel (Member # 3723) on :
Jim
I would have jumped at that opportunity in my younger days!! I pay more than that for the mortgage payment alone on our store. Not to mention plotters, edge, computers, legitimate software and so much more. I think the idea of a gradual buy out is great. That way, if you experience some recovery, you can still do the work you love.
PS: Whatewer arrangement you make---GET IT IN WRITING!
[ August 09, 2003, 04:46 PM: Message edited by: Rick Beisiegel ]
Posted by J & N Signs (Member # 901) on :
Does sound like a good deal for both parties. Maybe you can chalk up some extra cash helping out or consulting!
Posted by jimmy chatham (Member # 525) on :
at the present i have to turn away work because i am not physically able to do it & my finances are depleted. ithought that this would take care of the bank payments and i could help out with the phone & computer for a little extra money. i want someone that can run the business on their own in case i don't feel like coming in. i have had the business for sale for a couple of years & no buyers. if every thing goes as planned i have close to 200 trailers to do next year in reflective. Robert Davis has come down from bryson city nc and helped me out & bobby hill from here has helped me out a few times.
Posted by Joey Madden (Member # 1192) on :
I really wish ya luck Jimmy, sure sounds like a great deal for someone. BTW take care of yourself
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Best of Luck Jimmy