Buying another flea market business..is it worth it? - GoFuckYourself.com

Phoenix · 06-05-2006, 12:15 PM

im thinking of buying an existing flea market stand that sells hats

price is just 15k...but the booth only sells about 3k a month

so to pay it back..wed be selling there for over a year.

however the initial investment is tax deductible..and it will create a job for my wife or one of her friends.

Bad decision?

i was thinking 6k-9k would be more fair.

the only valuable thing we get is it is a well known stand that has been selling hats for 6 years

any input? im mostly interested to hear about tax considerations...

ssp · 06-05-2006, 12:19 PM

All I know is it takes a real sales person to sell things on a flea market. Simply putting your wife on the stand doesn't guarantee 3k a month income. No offense.

luv$ · 06-05-2006, 12:20 PM

Don't know much about the tax laws in Canada, but I will say that I think an offer of $9k is fair - 3 month's income (if I remember correctly, the "3 month rule" is a brick&mortar rule adopted by internet businesses, I could be wrong though).

So I would offer $8k to negotiate up to $10k max.

I'm sure this person wants to sell more because of the inconvenience than for the $ earned by selling it.

nofx · 06-05-2006, 12:20 PM

its just a place that buys wholesale hats and then marks them up and sells them?

doesnt sound very profitable and sounds very boring

Phoenix · 06-05-2006, 12:20 PM

Quote:

Originally Posted by ssp

All I know is it takes a real sales person to sell things on a flea market. Simply putting your wife on the stand doesn't guarantee 3k a month income. No offense.

totally..my kids will have their own flea market stands if they want them...they will be top notch sellers by the time they are 18

we have been operating our own stand now for about a year

doing really well

Phoenix · 06-05-2006, 12:21 PM

Quote:

Originally Posted by nofx

its just a place that buys wholesale hats and then marks them up and sells them?

doesnt sound very profitable and sounds very boring

yes it is boring as hell...that is why i never go...ever..lol

i mostly setup some wholesale deals for us...we are concentrating more and more on wholesale

babedirect · 06-05-2006, 12:21 PM

Quote:

Originally Posted by ssp

All I know is it takes a real sales person to sell things on a flea market. Simply putting your wife on the stand doesn't guarantee 3k a month income. No offense.

Unless she has huge boobs and wears skimpy shirt while she works~

ssp · 06-05-2006, 12:22 PM

Quote:

Originally Posted by babedirect

Unless she has huge boobs and wears skimpy shirt while she works~

I don't know his wife but I was referring to more conventional sales techniques such as 'talking'.

Phoenix · 06-05-2006, 12:22 PM

Quote:

Originally Posted by luv$

Don't know much about the tax laws in Canada, but I will say that I think an offer of $9k is fair - 3 month's income (if I remember correctly, the "3 month rule" is a brick&mortar rule adopted by internet businesses, I could be wrong though).

So I would offer $8k to negotiate up to $10k max.

I'm sure this person wants to sell more because of the inconvenience than for the $ earned by selling it.

\

yes..i was thining the samething

9k tops is a fair price...we can make that back in 6-7 months
and run it for another year and sell it to someone else...just opening options up...the people who run it now...are opening their first convenience store...so no time for them

Screaming · 06-05-2006, 12:23 PM

you cant just rent a diff stand?

VIPimp · 06-05-2006, 12:23 PM

What do you sell now?

If you are interested in more products to sell... my friend manufactors celebrity mousepads, phone covers, cd cases, camera's, and other celeb stuff like that... all officially licensed... let me know and I'll put you in touch with him.

Phoenix · 06-05-2006, 12:27 PM

Quote:

Originally Posted by Screaming

you cant just rent a diff stand?

that was what i said...but the spot has many customers who come there....they dont care who is running it..theylike the hats and the price.

wed get the same suppliers...they are all korean

ill have to ask my cpa..i meet with him this week

if it is tax deductible..im going to do it
why pay tax when you can invest

american pervert · 06-05-2006, 12:27 PM

Quote:

Originally Posted by Phoenix

totally..my kids will have their own flea market stands if they want them...they will be top notch sellers by the time they are 18

we have been operating our own stand now for about a year

doing really well

i bet selling vitamins and health supplaments would do pretty well too

Phoenix · 06-05-2006, 12:29 PM

Quote:

Originally Posted by VIPimp

What do you sell now?

If you are interested in more products to sell... my friend manufactors celebrity mousepads, phone covers, cd cases, camera's, and other celeb stuff like that... all officially licensed... let me know and I'll put you in touch with him.

right now we sell Rollershoes...only rollershoes.

but the hat stands also make good money in the flea market circle

id be interested in wholeselling the products maybe..but not retail

that is hard work..lol

Phoenix · 06-05-2006, 12:29 PM

Quote:

Originally Posted by american perv

i bet selling vitamins and health supplaments would do pretty well too

yep...there is one of those guys in almost every flea market

i thought they would suck..but they have loyal customers

DirtyDreamer · 06-05-2006, 12:32 PM

I like flea markets and there is one going on every weekend at the old Wally World. I can sometimes find some old comic books. One booth has nothing but dog treats made from peanut butter but our dogs didn't like them.

Phoenix · 06-05-2006, 12:50 PM

Quote:

Originally Posted by babedirect

Unless she has huge boobs and wears skimpy shirt while she works~

she kinda looks like the girl in my sig..bending over and laughing

but with bigger boobs

Rictor · 06-05-2006, 01:47 PM

$3k a month in sales or profit? Sales doesn't really matter when coming up with a price...it's all about profit. The booth could be breaking even depending on how much the product costs.

evilclown · 06-05-2006, 03:24 PM

There's no money in flea markets.

beemk · 06-05-2006, 03:41 PM

Quote:

Originally Posted by Phoenix

\

yes..i was thining the samething

9k tops is a fair price...we can make that back in 6-7 months
and run it for another year and sell it to someone else...just opening options up...the people who run it now...are opening their first convenience store...so no time for them

is that really worth your time to run a flea market stand for 6-7 months to earn 9k?

06-05-2006, 12:15 PM	#1
Phoenix BACON BACON BACON Industry Role: Join Date: Nov 2002 Location: Poems everybody, the laddie fancies himself a poet Posts: 35,469	Buying another flea market business..is it worth it? im thinking of buying an existing flea market stand that sells hats price is just 15k...but the booth only sells about 3k a month so to pay it back..wed be selling there for over a year. however the initial investment is tax deductible..and it will create a job for my wife or one of her friends. Bad decision? i was thinking 6k-9k would be more fair. the only valuable thing we get is it is a well known stand that has been selling hats for 6 years any input? im mostly interested to hear about tax considerations... __________________ Skype Phoenixskype1 Telegram PhoenixBrad https://quantads.io

06-05-2006, 12:20 PM	#3
luv$ !$!$!$!$!$!$!$!$!$!$ Join Date: Dec 2004 Location: Paper Street Posts: 6,158	Don't know much about the tax laws in Canada, but I will say that I think an offer of $9k is fair - 3 month's income (if I remember correctly, the "3 month rule" is a brick&mortar rule adopted by internet businesses, I could be wrong though). So I would offer $8k to negotiate up to $10k max. I'm sure this person wants to sell more because of the inconvenience than for the $ earned by selling it. __________________ Domain Auction - now till 12:01AM on the 2nd... Paper Streeeeeeeeeeeeeeeeeeeeeeeeeeeeeeet Cash The Real Workout - Innocent High - Oye Loca - Her Freshman Year - Solo Interviews - This Girl Sucks. ** HQ Fresh ORIGINAL sites.

06-05-2006, 12:20 PM	#4
nofx Too lazy to set a custom title Join Date: Nov 2002 Location: Virgin Mary's womb Posts: 16,826	its just a place that buys wholesale hats and then marks them up and sells them? doesnt sound very profitable and sounds very boring __________________ Often times I wonder why There's love and hate, theres live or die. When sickness comes I must decide: When feelings go, theres suicide.

06-05-2006, 12:23 PM	#10
Screaming I can change this!!!!! Join Date: Feb 2004 Posts: 18,972	you cant just rent a diff stand? __________________

06-05-2006, 12:32 PM	#16
DirtyDreamer Confirmed User Industry Role: Join Date: Sep 2005 Posts: 458	I like flea markets and there is one going on every weekend at the old Wally World. I can sometimes find some old comic books. One booth has nothing but dog treats made from peanut butter but our dogs didn't like them. __________________ Chill out at Moongem Comics

06-05-2006, 12:19 PM	#2
ssp Confirmed User Join Date: Jan 2005 Location: United Kingdom Posts: 7,990	All I know is it takes a real sales person to sell things on a flea market. Simply putting your wife on the stand doesn't guarantee 3k a month income. No offense.

06-05-2006, 12:23 PM	#11
VIPimp Marina WILL have my babies! Industry Role: Join Date: May 2003 Posts: 9,234	What do you sell now? If you are interested in more products to sell... my friend manufactors celebrity mousepads, phone covers, cd cases, camera's, and other celeb stuff like that... all officially licensed... let me know and I'll put you in touch with him.

06-05-2006, 01:47 PM	#18
Rictor Old Timer Industry Role: Join Date: Jan 2001 Location: Indianapolis Posts: 12,208	$3k a month in sales or profit? Sales doesn't really matter when coming up with a price...it's all about profit. The booth could be breaking even depending on how much the product costs.

06-05-2006, 03:24 PM	#19
evilclown Confirmed User Join Date: Dec 2005 Posts: 131	There's no money in flea markets.