An oppertunity has presented its self to me?
Answer:
Small Country Stores are a big risk, and you may not have all of the story on why it went downhilll. I would imagine places like Walmarts, Publics, the the Indians taking in all of the Convience stores contributed to the store' decline in profits.
Most of ours here are gone. YO can find maybe one in most small towns if thye have not been taken ove rby the big convience stores.
The problem is younger(and you should know) generation does not realize how many long hours are put into one. Ours here is ran by a guy and his wife in their late seventies to early eighties with some help from their two sons. They work 12 a day 7 days a week and depend very much on Credit Business> The Credit is what keeps most small Country or Neighborhood stores in business. It can be good for profits, and you also lose a fair amnount to debtors who will not pay. Also location is everything. If your prospective buy is near a plant where workers will shop early and late or maybe dinner also you could very well have a great deal.
If you don't mind the isolation, long boring hours, and tedious work go for it:). we certainly need more of them.
Good luck
I f you don't do it you'll always wonder what would of happened.
I say go for it. Good luck.
A lot depends on how much they are selling for. If you can get the store for a reasonable price I would go for it.
It is all dependant on if you think you can build the value of the buisness back up and/or make it profitable.
Good Luck!
I think you have to really examine why the business went down hill because I don't believe it was only because the owners were not local people. Did they change the pricing of merchandise? Did they carry fewer items? Did they change the hours of operation? Were they unfriendly or provide poor service?
You haven't mentioned how long ago it was when you worked there and it was a successful business. Has the community changed since then - fewer people? Local economy gone bad? Less traffic on the road? Another store in the area?
If the things that made the business drop off are things you can change, then you may want to go for it. If, however the reasons the business declined are things you can't really change, it may not be a good investment.
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