RangerClay Posted June 21, 2012 Report Share Posted June 21, 2012 I've seen lately that several members here have started their own business. I hope to try my hand at it myself soon. There is a local winemaking shop that may be up for sale soon because the owner wants to retire. It has been open for 5 years and it has grown every year since it has opened. I asked about it and I have first dibbs on buying the business. The location is a rented space so I will not have to buy a building, just pay the rent & utilities each month. I have never done anything like this before in my life. I've only had one business class (back in the mis 80's). The gentleman is coming over to to my house to discuss the purchase next week. What are some questions I should be asking? Quote Link to comment Share on other sites More sharing options...
Adjam5 Posted June 22, 2012 Report Share Posted June 22, 2012 Joe, I am wishing you good luck in your venture. Very cool. I know your wine will have lines out the door. This is what I would ask. See if the seller can stay on with you a few weeks to walk you along. Ask if any equipment, tools or material is part of the sale. Is the store name to remain the same? Do you need to establish credit with suppliers? Does he bank with a business friendly bank (Loans/line of credit)? How long will it take to get a NYS liquor license? Do you plan on making what you sell or just adding your wines to other mass produced products? Quote Link to comment Share on other sites More sharing options...
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