Thursday, February 7, 2008

Punching in the dark

Just thought I would illustrate what we mean when we say we're being forced to make offers to buy businesses based in zero information. Here's a case in point. It's the print out from the online real estate web site, listing a small cafe for sale in St Kilda. Now we have signed an NDA on this cafe, but I've removed all identifying stuff so I can't see the issue with showing you. The scrawled information is me writing down notes when talking to the broker. On the basis of this information it was intended that we would make an offer to purchase the business. As I told the broker, we'd be punching in the dark. So we made a very low offer, because without documentation and evidence to justify a value, my business bone freezes and doesn't want to play. Bizarre.

No comments: