Monday, May 11, 2009

Boss

> "One thing you discover as soon as you become your boss is that you aren't. Every customer is your boss. You could go from one boss to hundreds of bosses, so get used to it. Keep in mind that if one of those hundreds of bosses fire you, you still have a job, you just don't work for that boss again."
"Business brokers are an ideal place to look to help you.
As in any dealings, remember 'Buyer Beware.' Many business owners kite the income and eliminate the expenses in the final years so that the business looks good on paper.
There was a trailer court for sale. There were about 100 trailer sites and a general store on the property. The trailer court owner also operated the general store. The entire package seem reasonably based on the site rentals, but the individual site rentals seemed about $100 higher per month than the other trailer parks in the are....The buyer completed the transaction and took title to the property. He also became the owner of the general store where the tenants paid their site fee each month. When the following month came around, the new owner gleefully awaited the tenants. The first one came in and paid the stated amount (that you remember was about $100 higher than the neighboring trailer courts). The owner gave the tenant his receipt and the tenant just stood there waiting. The tenant said, 'My chips!" Further discussion revealed that the owner had given the tenant back $100 in plastic chips that could be used in this store for pop, beer, and other store items."

This is what Andy said.