Small Business Finance Works

small business finance works
small business finance works

I’m going to buy a small business for 12k. I need advice.?

I know how to run the business because I have been working there for four years. I just don’t know anything about finances or what I need to do to get started. I will have a partner and we are splitting the costs 50/50. It’s a kiosk at a mall but it brings in a lot of money. Any tips or advice. We are going to pay the owner off in a period of 3 months 4k a month. The rent is 2,050 and we pay on commission. I want to do everything right and by the book.

Paper work, Paper work, Paper work. I can’t stress that enough. First make sure your purchase is in writing, legal and notarized. It wouldn’t hurt to have a lawyer involved. Make sure you check with the mall, you don’t want the lease to expire after your transaction and have to sign a new one at a higher price. You should be keeping every receipt you get. It is all write off, from product to gas to meals. Go to a accountant and they will tell you everything you need to know. Good luck.


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