Business Question

[savethematches]

The owner of the little paper for which I work has offered to sell the business to me. I'm no businessman, but I like the idea of being my own boss. Do you biz types have any helpful advice? Are there grants or anything to help w startup costs? Can TIF funds help in some way? Other thoughts?

[polara]

I agree with everyone. Run.

But.

IF you can take a very serious look at the balance sheets with a hard-nosed accountant..

IF it's your passion

IF you can find an unfulfilled market niche best filled by print, i.e. a shopping weekly or a local music and arts rag or something best read outside and away from it all like like an outdoors/hunting/fishing/backpacking paper and

IF that subject is your passion too and

IF you have a partner with income/trust fund...

Go for it.

[scottcald]

Yeah, but even Kirk liked actual books.

Damn that Star Trek!

[mc2]

IF you go for it....just buy the rights to the name of the paper for $1 and NOT the debt. Have a search done to make sure there are no

leins on the business name and you would own it clear and can continue with a clean slate. Know your market niche and competition ahead of time for your potential advertising income.

BUT, as already mentioned, print is dying in a similar fashion as the record industry is dying.

End users now can get their news/info/music faster and often for free....so they are less apt to pay for it or get it in the slower, old way.

...and the advertising/revenue dollars fall off as the end users move to the newer faster/free providers.

There ARE still some places were the printed page rules....like big picket signs and flyers outside of businesses. Or maybe rural or senior communities or many churches. But if your reader demographic is 50 y.o. and under, you face end users who want it now and preferably free.

IF you do it as a small town print media and also add a digital Internet aspect...add expanded content online, advertiser specials online, local social media tie-in, etc., you might make it work.

Printing and mailing can be very expensive, let alone payroll, taxes, insurance, etc.

[savethematches]

The issue is dead. I had a meeting scheduled to go look over the books and discuss the business in general. I was 99% sure I didn't want to deal with it, but I wanted to be 100% sure. Right before I left school to head to the meeting, I got a text from him that he'd sold it out from under me. The City Manager, with whom I had discussed the possibility of the acquisition, went behind my back and tipped off a crony of hers who owns a paper in the next town over. That woman contacted the current owner, and he lied through his teeth, telling her that I had declined. Needless to say, I gave him hell, quit immediately, and went back to Menards to regain my old job. There's a slim possibility that the new owner might hire me to write, but I don't want to deal with that liar either. Fuck 'em all!

[crunchee]

So, people who run/own newspapers lack integrity? Especially ones in little provincial towns? What a shock.

[Studio Custom]

The issue is dead. I had a meeting scheduled to go look over the books and discuss the business in general. I was 99% sure I didn't want to deal with it, but I wanted to be 100% sure. Right before I left school to head to the meeting, I got a text from him that he'd sold it out from under me. The City Manager, with whom I had discussed the possibility of the acquisition, went behind my back and tipped off a crony of hers who owns a paper in the next town over. That woman contacted the current owner, and he lied through his teeth, telling her that I had declined. Needless to say, I gave him hell, quit immediately, and went back to Menards to regain my old job. There's a slim possibility that the new owner might hire me to write, but I don't want to deal with that liar either. Fuck 'em all!

Run over there, yank down their pants and kiss their asses for saving you from the biggest mistake you could have made. Don't be bitter be thankful.

[cmatthes]

...and then thank US!!! :D

[The Shark]

The issue is dead. I had a meeting scheduled to go look over the books and discuss the business in general. I was 99% sure I didn't want to deal with it, but I wanted to be 100% sure. Right before I left school to head to the meeting, I got a text from him that he'd sold it out from under me. The City Manager, with whom I had discussed the possibility of the acquisition, went behind my back and tipped off a crony of hers who owns a paper in the next town over. That woman contacted the current owner, and he lied through his teeth, telling her that I had declined. Needless to say, I gave him hell, quit immediately, and went back to Menards to regain my old job. There's a slim possibility that the new owner might hire me to write, but I don't want to deal with that liar either. Fuck 'em all!

Don't limit the opportunities availed to you in the future. You are going in with your eyes wide open, if you decide to write. I happen to think you'll count yourself lucky for not purchasing the paper. And a valuable lesson was learned. Never tell anyone about your future plans in business, unless you need them to invest. I am sorry you feel betrayed by the "City Manager". I'm always baffled at how people that have nothing to gain are often the catalyst for this kind of back stabbing behavior.