I would do but I see you're only 23yrs old I know I wasn't in the right frame of mind at 23 as I was to interested in beer & girls and cars to put up with the responsibility of running a business so its all up to you to make it work.

 

It will always cost more than you think, and will always take more time than you think. Therefore cutting into everything else in your life, it's a big risk but if you feel like it's something you really want to do I would say go for it. But be sure to remember nothing is as easy as it sounds.

 

If he only did $3500 in profit all last year I doubt he has much of a customer base to follow so you are really only buying his equipment. I think you could get a pretty good setup of new equipment for $3500 based on the stuff I have seen at my friends powdercoating company.

 

now that gives me one hell of an idea.

shop around, if his tool list is small, do some shopping to see just how much it would cost if you bought everything new.
oven, sprayer, blaster, supplies, compressor.
if this is something you really want to do, you can turn your own kitchen oven in too a small cooker and do anything small that will fit.

 

My advice....do not buy ANYTHING (as in a business) right now.

 

ok, so heres the deal. his wife never said anything about the business, it was all his idea. he has a mentally challenged daughter who is 9y/o and just started walking, she cant talk just makes noises and his son just started first grade so he wants to watch his son grow up and take some of the stress of their daughter off his wife as well as put in some overtime at his full time job.

he didnt have much profit this year because he hasnt advertised except word of mouth for about two years. pretty much the only profit that came in this year was from friends.

im 23, dont drink, im not married and have a full time job already. my girlfriend has already told me to go for it, she is willing to help me with everything and her dad said if i need he will help with the business finances. it would just be a side job deal and if it doesnt work out i would only be out the money and time i have in it but should easily be able to make the money back if i decide to sell the equipment.

i know it is going to cost more than the initial $3500, probably almost double that after i do advertising and everything. my mom already said i could have some of her 3000sq/ft shop to work out of so i wont have rent until i move out of there.

i have thought about buying everything new and starting something myself but for and industrial air compressor, 3 powder guns, oven, 100+ pounds of powder, sand blasting cabinet and all of the other tools he has buying everything from him is a better deal. plus i will already have a customer base, small but customers none-the-less.

the charity thing is more his deal, it all goes to help other families that have mentally challenged children. the powder coating business has a charity race team which doesnt mean i would have to be there but i would be at all of the ones i could attend, just as i did this past year.
here is a link for the charity events:
http://www.dfwcharityracing.com/phpB...72554c79b03f46

 

Sounds to me like your pretty dead set on going through with this. Go for it!

 

im not dead set on going through with it, yes i'd really like to. how much risk is involved with doing it? i know there is demand for powder coating but how much liability is there? i will be doing the work myself so i wouldnt have to pay anybody to help me, powder is cheap, and there will be no rent. i work full time 7 out of 14 days so i would have quite a bit of time to devote to doing it and i should have no problem making my money back within a year of owning it.

im not seeing too many downsides to it, maybe cause i've never owned a business before and an not sure what im looking at, maybe because i want to do this and dont want to see the downside of it, thats why im asking for ya'lls opinion on it.

mt gf's dad said to ask for all of the business records on paper for the last couple of years and let him see what the income:expense ratio is and determine what final amount i will be looking at to get everything operational.

 

3500 is somewhat of a small investment for a business however in todays world with the economy the way it is and people not spending money like they used to, I would have to really consider this. On the other hand if you look at it as a side job/hobby I think you would be ok. Like you said, worse case scenario you go belly up all that you would have to do is sell the equipment and wash your hands clean of it.

 

Heres how i look at it.it doesnt seem like you have to pay alot of moneyto buy the equipment. so thats a +. Another thing some people paymore money in wheels for there truck. And its only money. if it fails you could probley get your money back buy selling the equipment. and also your young. in life sometime we need to find out how things work for ourselves. so i say go for it. and if it dosent work out look at it like it was hobby in life that you didnt like and move on.