Maximum Machine’s owners said they wanted to sell their business. The idea was that a new Buyer would move the business freeing up the building owned by Maximum’s owner. Maximum’s owner would then rent the building for significantly more money to a retail user. The building had valuable retail zoning on a high-traffic corner. Maximum paid below market rent. Even adding the rent paid by Maximum back to Maximum’s cash flow did not generate the cash flow renting to a retail tenant would.
Unfortunately, the owners refused to price the business anywhere near the market value and, at last count, were still running their business making less money than what market rent would generate.
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People run businesses for reasons other than money; and in the case of Buyers and Sellers, actions speak louder than words.Gregory Caruso, JD, CPA, CVA Harvest Business Advisors Business Brokers, Business Valuations Maryland | New Jersey | Pennsylvania firstname.lastname@example.org 609-664-7955