Updated over 8 years ago on . Most recent reply
Sweet Deal... or Bad Idea?
Hello!
I’m new to Bigger Pockets and was hoping to get some feedback on a possible investment/business. My goal is to get a full-time teaching job next year. With the summers off, I am looking at a seasonal business for some extra income.
There is an ice cream shop that I am looking at. It's rather small and is open 5 months or so out of the year. The plan would be to purchase the shop, keep the current manager in place and then work there June-August.
The financials are for only 3 years and average $100k in sales with a cost of goods of approximately $30k. After expenses (salaries for staff included) the net income is approximately $15-$20k (before depreciation).
The business comes with a free standing building worth about $85-$90k.
Any thoughts on evaluation?