couple questions re:purchase of existing gard. cntr/nurs biz
I've lurked here for awhile, came across a couple questions not answered elsewhere.
I'm exploring a career change. Would like to buy an existing business in the green industry- probably garden center/nursery (or combination w/landscaping, wholesale/retail, etc) that is not distressed but where the owners are retiring or making a change for other personal reasons. Ideal is something where the present owner is willing to consult/train/work for new owner for a period of time and where a person with strong business background may have opportunity to take it to the next level.
In looking at biz brokerage sites, there seem to be viable opportunities that fit what I'm looking for. Of course, that's before looking under the covers so to speak.
1. One thing that's been difficult to find for private companies is what is a typical debt/income ratio for this industry? I know where to get this data for large public companies but not for small private businesses. I know some industries, just by the nature of their business need, to carry more. Normally I would look for 2. What states do you find to be easiest to run a small business in? For example, which are more ag. biz friendly? Which are more small business/employer friendly? Which have the most horrendous beauracracy so you'd never want to run a business or have an employee there again?
My experience is in managing/growing high-tech R&D startup business w/in a larger high-tech company. Business knowledge will transfer to about any industry given a little tweak on specifics. I've gardened/landscaped as a hobby all of my life- have a good deal of plant knowledge. I've worked front line retail & production in the past. Find a great deal of satisfaction when I propagate, grow, design a space with plants, grow & process my own food, etc.