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  Canada Immigration Forum > About Canada > Business > Buying an Existing Business - Based on my recent experience
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Buying an Existing Business - Based on my recent experience




booradleysmart
Desi
Member since: Aug 15




Posts: 82
Location: permanently banned


Great post

 
Post ID: 225410 02-08-15 10:55:57
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happywoman36
Senior Desi
Member since: Oct 13




Posts: 1645
Location: Toronto


Last month, best way groceries was for sale in isligton albion for 150k. The owner is known to me. We had a talk. She said 50-70k are inventory and basement is huge used for storage. One room is gvn on rent $600 in basement. Rent for the grocery store is $4500 + utilities. 100k is their goodwill. 20% dp and rest mortgage will be arranged by their realtor. Aftr few enquiries, found that coz of sunny supermarket, their business reduced by 35-40% but owner says she had some
cancer surgery and she is unable to run it as efficiently as befre. Few people tried to buy it but it's not sold as yet.

Existing business is better to buy coz of goodwill and old owner responsibility to train/teach new owner abt business debtors/creditors and maximise profit.

There is Mediterranean hotel for sale neare Vaughan for $195k. It's well known and runs well. Got listing 2 days back.



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Revenge can be bitter sweet, but if u sit back and watch, KARMA can be pure entertainment.:)

 
Post ID: 225416 02-08-15 13:09:59
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happywoman36
Senior Desi
Member since: Oct 13




Posts: 1645
Location: Toronto


Last month, best way groceries was for sale in isligton albion for 150k. The owner is known to me. We had a talk. She said 50-70k are inventory and basement is huge used for storage. One room is gvn on rent $600 in basement. Rent for the grocery store is $4500 + utilities. 100k is their goodwill. 20% dp and rest mortgage will be arranged by their realtor. Aftr few enquiries, found that coz of sunny supermarket, their business reduced by 35-40% but owner says she had some
cancer surgery and she is unable to run it as efficiently as befre. Few people tried to buy it but it's not sold as yet.

Existing business is better to buy coz of goodwill and old owner responsibility to train/teach new owner abt business debtors/creditors and maximise profit.

There is Mediterranean hotel for sale neare Vaughan for $195k. It's well known and runs well. Got listing 2 days back.

One interesting existing business is for sale ie saloon for 19900/- part of the saloon is sublet for $600. looks promising to me. Will be going to see it soon. :)






-----------------------------------------------------------------
Revenge can be bitter sweet, but if u sit back and watch, KARMA can be pure entertainment.:)

 
Last edited by: happywoman36 on 02-08-15 13:30:06
Post ID: 225417 02-08-15 13:11:06
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