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Hoping for some advice please!


Susieque
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At the moment I have a 2nd part-time job marking/recording children's work at a local Kumon study group, which for those of you who are not familiar, is an accelerated learning programme.


The guy who owns/runs the study school has another business which has taken off big time & he hasn't got the time to put into the Kumon group, so completely out of the blue he asked me if I would be interested in buying the business from him!


As far as I can see it wouldn't be a particularly difficult & time consuming business to run - fewer hrs pw than I'm working now, but I have absolutely no idea about running my own business! :shock:


So if anyone can offer me any advice about what to ask & find out, before I get too interested I'd be grateful. Also any information on what running your own business involves would be really helpful.


Thanks :D

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At the moment I have a 2nd part-time job marking/recording children's work at a local Kumon study group, which for those of you who are not familiar, is an accelerated learning programme.


The guy who owns/runs the study school has another business which has taken off big time & he hasn't got the time to put into the Kumon group, so completely out of the blue he asked me if I would be interested in buying the business from him!


As far as I can see it wouldn't be a particularly difficult & time consuming business to run - fewer hrs pw than I'm working now, but I have absolutely no idea about running my own business! :shock:


So if anyone can offer me any advice about what to ask & find out, before I get too interested I'd be grateful. Also any information on what running your own business involves would be really helpful.


Thanks :D

After 40 yrs on our own we would always reccomend a proper course from somewhere like business link. and don't commit to anything until you have taken lots of quality advice.

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Look at getting on some business management courses.


If the business is already set up, running and has a positive cash flow then it could be a really good investment.


The other option is to get a management consultant company like accentra in. They help people with setting up new companies as well as reforming and expanding existing ones. Though this can be expensive, they are very good and will certainly help you make a decent profit

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Find out If funding is being reduced/withdrawn with all the cutbacks.

Is there any plans for these type of lesson's to be incorperated into mainstream school.


Being to busy is NOT a reason to sell a succesful promising business. TBH Sue if i had a successful money making business with a good future and i was TOO BUSY I'd be looking at getting someone to manage it. Not selling it.


Sounds to good to be true, so it proberly is.


For Me you need to research the past the future prospects and then like others have said Business courses etc.

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I tend to agree with TC, I'd be wanting to know how successful this business was before committing - looking at his business accounts etc. It does seem unlikely to me that anyone would give up a thriving concern, but he may be genuine - do take care though!

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I agree with TC and cruz! Do all your homework get an accountant to look at the books e.t.c,


But with regards to running a business yourself don't worry I had my own for 4 years before I sold it, if I can do it anyone can!! :shock:


I do like the suggestion cruz made though!


Good luck

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Thanks for your advice everyone - really helpful :D


I had actually thought of suggesting to him that maybe I manage the business for a while, so that I could get experience of what is involved. As far as the money goes, I certainly won't do anything without having a close look at income/expenditure.


It's a private learning programme and parents pay quite hansomely for their little dears to attent the study groups! So probably wouldn't be affected by govt spending issues, only by people having less money generally.

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