Five years ago, a family friend, business owner, wanting to retire, having no sons, asked me to take over his company for 25000 euro.
Taking a look at the account book, the balance was very good, but including taxes, wages of many employees, the fact that I had to give up my job, it was a commitment too big for me.
In addition, at the time I was “full retard” from Forex, and all I thought was “well, if I had this money, I’d invest it with some EA, in a year I would be a millionaire” and “anyway in a few years I will be a millionaire, it’s useless to waste time” .
The years have passed and, because of his health, the company has been resized. Now the production is run by a part time employee. He doesn’t search anymore for new customers, in order to work more slowly and he has sold nearly all the machinery, leaving only one production line. Requiring less space, he stopped to rent his commercial space and moved into a tiny room in his property, saving thousands.
Instead my Forex investment, had a positive but very small return on investment, not the millions I dreamed in the beginning!!!
On Friday he invited me to see how his business works.
Starting from the raw material, the machinery, semi-automatically the product with the customer’s specifications. Customers, who are producers of furnishings, integrate it into their solutions and sell it to the public.
So he has a dozen clients, who make large orders once a month: he doesn’t make thousands of Euros, but also he works a few hours a day, I could easily fulfill orders in my spare time.
In a week his last employee will go away, so he told me this proposal: I would rent his room, including machinery and customer base, with a long-term contract and then manage orders by myself, keeping the earnings.
I am a bit scared of making a long-term contract and also on the bureaucratic side, but it is enticing to me.
What to do?