Anyone have business experience...buying/selling a boutique???

#16
70K for a bare bone business is a sucky deal. Plus, even though the price includes the owner's consulting fees, what's your guarantee that she'll help you immediately after you take over the business......she does't even show up at the store when she owns it already.

How can it be too late to say NO, b/c you're "in too deep?" There were no verbal agreements and no contracts signed. You merely were in the negotiating phase. So I don't understand the problem with you saying NO or that you've changed your mind.

I don't think it's a good idea to give them the run-around and BS with them with the price. Be straight with them. Just tell them that you're no longer interested and that's that! Why are you so scared to tell them straight out? They don't need to know exactly how you feel or think, but just tell them what they need to know and that is YOU ARE NO LONGER INTERESTED.
 
#17
I would say get out, especially if that's what your instincts are telling you. If customers and vendors are already turned off, it'll be an uphill battle to get the business back into it. If you make any agreements, I can see them turning it into a nasty lawsuit, which you don't need.

You'll kick yourself if you end up buying it and your instincts were right.
 
#18
The pressure they're putting on you should be the biggest red flag, why not just tell them you aren't interested, no excuses to them are necessary, & just walk away from this whole thing.
 
#19
^^ Thanks everyone...
I guess I feel as though I'm in too deep because the owner and I have a buying trip together soon and she is under the impression that I'm gung-ho for it.

I think I'm just going to leave it up to DH to break the news of our offer (which I'm pretty sure they'll reject) when he gets back into town, and hopefully it will be over by then. It's kind of weird because I'm their only lead to sell it... Very interesting considering the husband of the owner is a salesman by profession, I can just imagine how crazy he is with actual clients!!
 
#20
I think that you should run as fast as you can from this disaster. Forget about the money that you have spent on accountants, and attorneys. It was money well spent. This business is already tainted and the personal troubles of the current owners are not your problem. This is only about business and it does not strike me as a sound business to invest in. It has nothing to do about your personal relationship with this couple. Please don't feel guilty that you are not going to be the ones to bail them out.
If they continue to pester you;maybe your lawyer could break the news to them.
Good Luck !!!
 
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