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  • #987913
    peterent
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    Hi All….

    Recently I have been looking to buy a business…I have come across a business that sells safety boots,workwear etc and has been established for over 20 years, being retail store+online…..I wanted to know if anyone has experience in this field?

    Is retail dying out?
    Being retail how are the best ways to check if it is profitable, besides tax returns?

    What are pros’ and cons of a business like this?

    Thanks

    #1164851
    peterent
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    Anyone?

    #1164852
    MissSassy
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    There is no shortage in the need for Safety and Workwear products.

    The last 3 years tax returns scanned by an accountant should tell you if the business is doing well or not.

    Can you see ways of improving the current retail and online offering – if not then perhaps this business isn’t for you. This is just one of the questions to ask.

    Do you have a vision for the business or are you just looking to buy a job for yourself – engage a business adviser or mentor to help you to answer these questions and review what is on offer to you.

    #1164853
    Stuart B
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    peterent, post: 190730 wrote:
    Is retail dying out?
    Being retail how are the best ways to check if it is profitable, besides tax returns?

    What are pros’ and cons of a business like this?

    Thanks

    I assume what you’re really asking is if physical retail dying out?

    Retail as a whole isn’t going anywhere and is probably getting bigger with online stores etc. There will be a place for physical retail for a very long time, it’s just a rapidly changing landscape and it comes to terms with working in combination with online stores too.

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