Quote:
Originally Posted by Alfa02
Has anyone ever been to “Finishline’s” Store/warehouse since Trevor took over? I would like to know, since Brent (EM-0785) & I still would like to buy the remaining stock, for a reasonable “price”, and pass the saving onto the customer, then see where it goes from there. I have the time and ability to answer a phone/email and ship items out. It would be a “Hobby Business” as long as we don’t lose money, I’d be fine to run it. Saying this I know (Tony,  ) we wouldn’t make million, that’s not a goal, but to help out other Cobra owners. Cheers Tom. As most of you know I can talk Cobras all day  |
I would wait a bit more, Tom.
People who so badly mismanage a good business with a great name and significant reputational (is there such a word?) goodwill are usually reluctant to sell until their business’s financial walls collapse. That usually happens in Bankruptcy court. Suddenly, they have a lower price point that looks good because it gets them out of the hot water they find themselves in, and that is their first order of business.
Attempts to buy before the pain is sufficiently high can result in you paying a higher (sometimes significantly higher) price than the business is worth. When the current miscreant owner finds himself in financial hot water that threatens his wealth, you will find the most cooperative seller.
At the Battle of New Orleans, Old Hickory said, ‘Hold your fire ‘till you see the whites of their eyes.’ That is still good advice today for an acquisition like this ...