Wow. This article about Toy Joy is like a dark mirror of what could have happened to Rogues Gallery. I had many of the same issues, buying an existing business during a recession, giving up most of my profits to the bank, a pretty enormous purchase price (although ours wasnt inflated like it sounds like theirs was, ours was based pretty much on what the store inventory and brand value was worth). We werent in quite as expensive a location, and we had a huge boon in having my in-laws business to help us put pressure on the bank to renegotiate... I think that was probably two of the biggest things that helped us avoid this and get to the much more stable, profitable place weve been in the last few years.
Posted on: Sat, 08 Mar 2014 03:01:24 +0000
Trending Topics
Recently Viewed Topics
© 2015