Buying a business- Guy has no proof of numbers???

[AngryChris]

1 hour ago, Intouchvending said:

So he uses a van with a side door and back door as well. Cant think of the model but it's a 2016. Decent van. As for the bank, its upstairs in the corporate part so about 20 employees (maybe). The welding shop I saw maybe 7 to 10 people,  but he said there is 3 shifts and I only saw 1. 

So, we now have a welding shop with what you saw to be 7-10 people doing $500/week... And a corporate office of a bank with 20 people doing $130/week.

And how far are these locations from fast food and convenience stores?

[AngryChris]

5 hours ago, Intouchvending said:

On a side note is there any way in theory I could completely protect myself if i bought the route and he lied. Like i mean completely protect myself. I assume to do this i would need A LOT more than a PNS. But what exactly would i need. 

I don't think he'll put himself in a position to allow you to protect yourself.  Meaning, you are buying the route as-is with no guarantee.

[WhiteRoom]

5 hours ago, Intouchvending said:

On a side note is there any way in theory I could completely protect myself if i bought the route and he lied. Like i mean completely protect myself. I assume to do this i would need A LOT more than a PNS. But what exactly would i need. 

You could structure the deal to pay him machine value, with the remainder being paid after a certain period where revenues come in at, or within a certain percentage of, historical figures.  Obviously he won't agree if the numbers are BS.  If numbers are accurate, he still may not want to do it, but it could convince him to give you proof in another way.  This is pretty ridiculous when you think about it.  He's gotta be buying between $4k and $5k of product a month.  Even if he is paying cash, there would be purchase orders and other evidence - and none of that would put him in trouble with the "other accounts" on his CC readers or the IRS (at least not anymore than advertising the business for sale).

[alpenglow]

Is it this route?

 

Complete turn key vending route for sale in Truckee, CA. We are downsizing our current route due to new job opportunities. There are 14 locations total with 25 machines on location (drink, snack, cold food, combo machines and satellites). Route is currently grossing an average of $3500 monthly (our net is approx. $1400 monthly) Some units are equipped with a mobile pay option. All machines are in good working order.

We are servicing this route 1 day each week, approx. 7 hours. You make your own schedule. Great part time income or grow the route to full time. 

Please email or text with questions. This is a great, easy to service route with room to grow in the area if you are willing to solicit locations. Priced at $40,000. Price includes all machines ($30,000 approx. used value), all mobile pay equipment ($1000), coin and product in the machines at the time of sale (approx. $6500) plus locations ($22,500 value if you went through a location service). Total value $60,000. Serious buyers only please.

[Anacapa Vending]

You guys sound surprised that a vendor is full of sh*@... if you really want to expand your route make him a reasonable offer that you think his company is worth. Who cares if he lying about the numbers.  Chances are good he wont get any other offers... 

70% of the locations we have purchased have been from liars. Know what the equipment is worth and guesstimate the sales. Offer accordingly to minimize your risk.

[lacanteen]

11 hours ago, alpenglow said:

Is it this route?

 

Complete turn key vending route for sale in Truckee, CA. We are downsizing our current route due to new job opportunities. There are 14 locations total with 25 machines on location (drink, snack, cold food, combo machines and satellites). Route is currently grossing an average of $3500 monthly (our net is approx. $1400 monthly) Some units are equipped with a mobile pay option. All machines are in good working order.

We are servicing this route 1 day each week, approx. 7 hours. You make your own schedule. Great part time income or grow the route to full time. 

Please email or text with questions. This is a great, easy to service route with room to grow in the area if you are willing to solicit locations. Priced at $40,000. Price includes all machines ($30,000 approx. used value), all mobile pay equipment ($1000), coin and product in the machines at the time of sale (approx. $6500) plus locations ($22,500 value if you went through a location service). Total value $60,000. Serious buyers only please.

That's $35 per week per machine, gross. Lotta NOPE there too. Priced at $40K is 95% of 1 year gross sales. 

[Intouchvending]

23 hours ago, alpenglow said:

Is it this route?

 

Complete turn key vending route for sale in Truckee, CA. We are downsizing our current route due to new job opportunities. There are 14 locations total with 25 machines on location (drink, snack, cold food, combo machines and satellites). Route is currently grossing an average of $3500 monthly (our net is approx. $1400 monthly) Some units are equipped with a mobile pay option. All machines are in good working order.

We are servicing this route 1 day each week, approx. 7 hours. You make your own schedule. Great part time income or grow the route to full time. 

Please email or text with questions. This is a great, easy to service route with room to grow in the area if you are willing to solicit locations. Priced at $40,000. Price includes all machines ($30,000 approx. used value), all mobile pay equipment ($1000), coin and product in the machines at the time of sale (approx. $6500) plus locations ($22,500 value if you went through a location service). Total value $60,000. Serious buyers only please.

That's not the route although it does have many similarities.

[Intouchvending]

22 hours ago, Anacapa Vending said:

You guys sound surprised that a vendor is full of sh*@... if you really want to expand your route make him a reasonable offer that you think his company is worth. Who cares if he lying about the numbers.  Chances are good he wont get any other offers... 

70% of the locations we have purchased have been from liars. Know what the equipment is worth and guesstimate the sales. Offer accordingly to minimize your risk.

Thanks for the advice. Next time I'll be way more prepared.

[Intouchvending]

Update* 

 

After telling him I no longer want the route he has apparently sold half of it lol. Now he is lowering his numbers I assume as a last ditch attempt of my buying the business. Probably thought the number was too high for me and is now trying to figure out another way to reel me in with a scare tactic of stuff being sold very quickly. 

 

Update 2*

I told him to show the reader reports to verify his sales and still doesnt want to show me. 

One day later and he sold the whole business. Lol.

[Intouchvending]

On 5/27/2019 at 7:13 PM, WhiteRoom said:

You could structure the deal to pay him machine value, with the remainder being paid after a certain period where revenues come in at, or within a certain percentage of, historical figures.  Obviously he won't agree if the numbers are BS.  If numbers are accurate, he still may not want to do it, but it could convince him to give you proof in another way.  This is pretty ridiculous when you think about it.  He's gotta be buying between $4k and $5k of product a month.  Even if he is paying cash, there would be purchase orders and other evidence - and none of that would put him in trouble with the "other accounts" on his CC readers or the IRS (at least not anymore than advertising the business for sale).

Ya and he only sent me ONE invoice for about $1200 worth of product and it was dated April 2018. After giving him an ultimatum he apparently sold the business to someone else. 

[Anacapa Vending]

Probably for the best.. there will be other opportunities. 

[AngryChris]

If you came here, without telling us the numbers, and said that you saw a warehouse with 7-10 welders, a corporate office for a bank with maybe 20 employees, some school lounges, and a few other places, I feel pretty damn confident that the bulk of us here would tell you that the route won't make much money.  I stand firm on my belief that, if he did sell that route, all it means is that someone else is getting ripped off and not you.

[TKK]

Im sure he didnt sell anything he just knows your not a sucker.