Re: Estimating
If your thinking of buying an existing business I feel you are looking in the wrong direction for evaluating the business. But there are some things we would have to know to help you:
1. How large is this shop? One man or do employees come with the business?
2. Do assets as in building(s), tools and trucks/equipment stay with the business? Have these been evaluated as far as worth?
3. What is their customer base and are they going to stay even with a different owner? Even with an owner taking a partner some clients get uneasy and deside to start shopping around.
I had to ask myself these questions to myself when desiding whether to buy into a business or start my own. I chose to start my own. I felt the amount of capital I would have to spend for a buy in would be hard to make up in my five year plan. As far as your wage question you would have to sit down with the business owner and discuss his present payroll and cost of doing business to come up with an accurate hourly rate. You could also call around in your area for pricing. Good luck in your decsion.
Please feel free to change he to she. I know that there are woman who have EC businesses and I don't what to offend any of them if they are reading this post.