UPDATE:
We met again with the gun shop owner. He has had a rough few weeks. His wife passed a day after my last post. On topic: he offered a purchase price now $15,000.00 less than the last time we spoke.
We also discussed some other non-purchase types of options. Primarily, working as employee/mangers and asked for an equity share of the business. We would also get the purchase price in writing and we would commit to work/manage the shop for "x" amount of time with the option to purchase after that time frame should the business go as expected. He was open to and willing to work with us on an arrangement such as this and has asked us to email him a proposal. We would also need to be approved for our own FFL which could be "attached" to the LLC to protect us.
This would be a very low risk option for us and would alliviate the current owner from his primary goal which is to not have the FFL responsibility while not being at the shop... that would fall upon us.
Though all of this sounds very promising, we are still unsure if we are going to act upon this. If I HAD to make a determination today, I would not pursue this any farther. Perhaps there in, lies the answer. We have some contemplation immediately ahead.
We met again with the gun shop owner. He has had a rough few weeks. His wife passed a day after my last post. On topic: he offered a purchase price now $15,000.00 less than the last time we spoke.
We also discussed some other non-purchase types of options. Primarily, working as employee/mangers and asked for an equity share of the business. We would also get the purchase price in writing and we would commit to work/manage the shop for "x" amount of time with the option to purchase after that time frame should the business go as expected. He was open to and willing to work with us on an arrangement such as this and has asked us to email him a proposal. We would also need to be approved for our own FFL which could be "attached" to the LLC to protect us.
This would be a very low risk option for us and would alliviate the current owner from his primary goal which is to not have the FFL responsibility while not being at the shop... that would fall upon us.
Though all of this sounds very promising, we are still unsure if we are going to act upon this. If I HAD to make a determination today, I would not pursue this any farther. Perhaps there in, lies the answer. We have some contemplation immediately ahead.
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