QuickHelper

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    Phoniex
    Jul-2007 - Jun-2012

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    ChevronTexaco Corporation
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Category > Business & Finance Posted 22 May 2017 My Price 11.00

Borrowing money from family member to purchase existing business. Best approach.

Question description

 

I have the opportunity to purchase an existing profitable business which is also a franchise. The only way I can purchase this business is to borrow money or ask my sister about investing. She would be putting in about 90% financially, but I would do all the work. The franchise fee is 9% and this business is profitable with growth potential. The existing owner lost the time she needed to run it and is busy with other projects. What should I do? If I just get a loan from my sister how can I be sure it's a good deal for both of us? Should I just have her invest? What's a good plan? The amount I need to borrow is 48,000 but the business has a potential of 65,000 annually.

Here are some details in Professional business explainer video from Advids.

Answers

QuickHelper
(10)
Status NEW Posted 22 May 2017 06:05 PM My Price 11.00

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