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re: If you had $60k cash to start a business
Posted on 7/14/13 at 10:54 pm to offshoretrash
Posted on 7/14/13 at 10:54 pm to offshoretrash
That's also why stores are hard to finance.....the asking prices are high and the books show low profits....there's too much cash involved, only the owner knows what it really makes. 10-20% of sales will be cash and what's reported really is up to the owner....
This post was edited on 7/14/13 at 10:55 pm
1
Posted on 7/14/13 at 11:19 pm to ThaBigFella
quote:
That's also why stores are hard to finance..
This is something else I am worried about but it's a home town bank with a local board so they may can approve where other won't.
quote:
10-20% of sales will be cash and what's reported really is up to the owner....
Yep he told me he didn't know how much he made every month. That's fine for someone with no bills but I have to make enough to pay my bills now and the stores, plus insurance for my family. And I don't want to do it for free or just break even.
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