Happy to be here.

[Thez]

I am a 23 year old entrepreneur in the process of acquiring a business. I honestly need all the help I can get on even the most basic of matters. Unlike some of you, I have not completed my degree but have come across an opportunity I would rather not pass up. What kind of hurdles should I look forward to when buying a business. It will be owner financed and I have a family lender who I need to discuss the details with.

Can anyone tell me what they experienced from a similar business venture at my age?

Some small details:
The purchase in question is an auto shop.
The shop is currently under franchise.
The owners/partners are brothers...one is stern and the other articulate
The asking price is under 250k

Thank you for any help and I look forward to hearing from the community.

[optinomics]

Hi there Thez,

Sounds like you know what you are looking at, but need someone to work on the details and do some analysis to be 100% sure that you are making a smart decision. If you want, we run a consulting business and think we could help you. Check out our website at optinomicsconsulting.com

Bryan

[freelancebiz]

To me, this sounds like a long term investment, which is not a bad thing, but when you're 23, that seems like a lot to plan ahead for. I would suggest starting with something smaller, see how you do with it, and them move into something bigger. Right now, you need to have a little more like experience before buying a business. It's not impossible to do it, but you also don't want to spend a lot of money on something that isn't fulfilling to you in a year.

Welcome to YE!