Looking to purchase an exsiting buisness from 80 year olds who are looking to retire ? Seller will not give me a selling price?
Hi! Adding on to the above answer, can you give a bit more background as to what the meeting was like, and/or what information they were willing to give? Maybe then I could be more helpful.
There are several ways to calculate a business’ valuation, and make an offer, but for this you are going to need the owners to provide numbers (including important information such as net profits, etc.). If they cannot provide any information, then it could be hard for you to close a deal (or at least for you to make a wise business investment)l. If the owners have had the business for a long time (you mentioned they are in their 80s) they may have a strong emotional attachment to the business, so perhaps giving more information about yourself and why you are personally interested in investing their business could be a good start to establishing a good and trusting business relationship. An explanation as to why you need certain information (as it can help you both come to a reasonable and fair business deal), might be helpful as well! Hope it all works out for you!