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just got done serving a 4yr term in the military and got a good chunk of changed saved up(est $30grand)...

i have no business background what so ever, but i would like to buy/invest my money in an established business, but i'm not too sure how the process works or where to start....i found a hobby store that i am interested in valued at $190,000 with seller finance...is someone like me qualify to purchase a business of that sort? any help would be greatly appreciated.

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Jan 22, 2017
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The BAF Group LLC
MD

Daniel, two things to think about. First, did the military prepare you to run a business? Inventory control is one thing; but what about managing money, hiring and managing people in a non-military venue; purchasing; cost control, etc. Is it worth your while to get some experience in these areas first, same more money (or at least sock that $30k away,) and THEN look toward doing something in the way of getting into business for yourself? That gives you time to learn more about what is hot and what is not, what you might like or dislike, and then REALLY shop for deals that suit you, rather than taking something that just looks affordable.

Second, I don't know this hobby store, but I would look at it VERY, VERY carefully. Hobby shops have one of the highest rates of failure, among all retail stores. That is because of several reasons, but one of those being that people don't NEED to shop there; Walmart kills many of these kinds of stores; hobbies change, and that can kill your inventory...and more.

If you are really into this, look carefully at their last three years of Revenue, and in particular, what have they done on a month-to-month basis in the past six to nine months.

Good luck, and welcome back to civilian life!

May 30, 2009

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