Advice on situation

RE: [spiers] Advice on situation

Kevin, where is the business located?

Keith
-----Original Message-----
From: MisterKJL@aol.com [mailto:MisterKJL@aol.com]
Sent: Saturday, November 22, 2003 2:42 PM
To: spiers@yahoogroups.com
Subject: [spiers] Advice on situation


John:

I'd like your advice on my situation:

My wife inherited an import business from her father 6 months ago. We
hired someone who was unemployed to help run it and now he no longer desires
to continue. (He prefers a 9-5 job than being an entrepenuer)

The business imports restaurant goods from Asia, warehouses them and sells
& distributes them throughout CA. Small player in a field of three
domninant players. We do have an established customer and supplier list.
At its prime, the business grossed over $360k a year (net $60k), but my
father in law was stricken with cancer a couple years ago and now the
business gross around $8k a month (down to 5 major customers from 20).

Our original thought was to try to build the business back and then some,
while we both continued our own professions. My wife and I are not sure
what to do with this business at this point.

1) liquidte the inventory?
2) sell the business outright?
3) hire someone else to run it?

What are your thoughts in this situation?

Thanks,

Kevin

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