Vendor financing Looking for some personal stories and…
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Vendor financing
Looking for some personal stories and advice with vendor financing. I have been very fortunate to get into a great career line and work for a great couple who has brought me up and mentored me for 7 ish years now. They are in their mid 50’s and have offered a “10 ish year vendor finance option for me to buy the business” where it “won’t cost me money out of pocket”. We are currently starting our evaluation and appraisal but I know we’re between 1.9-2.5M purchase price. When they purchased it they bought it through vendor finance also but it was worth 790k. We paid it out with the revenue from it over 3.5 years. From your experience what do you think they mean by having it appraised now, setting a price and working out some kind of long term deal like this? I’m familiar and have been researching how vendor finance often works but they are making it sound too good to be true. Any experience with this would be appreciated. Thanks!!!
#business
Looking for some personal stories and advice with vendor financing. I have been very fortunate to get into a great career line and work for a great couple who has brought me up and mentored me for 7 ish years now. They are in their mid 50’s and have offered a “10 ish year vendor finance option for me to buy the business” where it “won’t cost me money out of pocket”. We are currently starting our evaluation and appraisal but I know we’re between 1.9-2.5M purchase price. When they purchased it they bought it through vendor finance also but it was worth 790k. We paid it out with the revenue from it over 3.5 years. From your experience what do you think they mean by having it appraised now, setting a price and working out some kind of long term deal like this? I’m familiar and have been researching how vendor finance often works but they are making it sound too good to be true. Any experience with this would be appreciated. Thanks!!!
#business
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