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Need your honest opinion BEFORE I send the check ...
Just can't stay away
Joined:
2010/5/10 18:48
From Rockledge, Florida
Posts: 52
Hi all,

So I have sealed a deal with Richard Blomquist's son to purchase his mirror reproduction business. I assume most of you know who Rick was and the business he ran (White Glove Collection). It's not a huge investment but I would like to know what your thoughts are as to where the market for these mirrors stands. I was told it's not what it used to be and I obviously don't want to get stuck with 50 pairs of mirrors that I won't be able to sell and at least make my money back on this investment. I placed an ad on this forum to get a feel for the interest but I didn't get any replies. I just want to know what you all honestly think.

Here's the link to the other post:

http://packardinfo.com/xoops/html/mod ... hp?topic_id=22167&forum=8

Thank you in advance,
Crin

Posted on: 8/27 15:57:56
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Re: Need your honest opinion BEFORE I send the check ...
Not too shy to talk
Joined:
2015/5/22 13:23
From Lake Lanier, Georgia
Posts: 11
I can't speak to the volume of mirrors you expect to sell. Just a general observation- "BEFORE I send the check...I have sealed a deal." Unless you plan on never setting foot inside that bar again; I think you know what you need to do.
You aren't buying the whole business, so audited financial statements may be overkill, but I would have at minimum asked for some proof of cashflow over the last three years to assess the projection going forward. At that point take into consideration holding costs and decline in value due to aged inventory. I do applaud you for keeping something alive, I would be lying if I said I didn't open my wallet with my heart on occasion.

Posted on: 8/27 16:45:19
_________________
1948 Custom Eight Victoria Convertible
Others:
1941 Cadillac Series 62 Deluxe Convertible Coupe
1956 Oldsmobile 88 Sedan
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Re: Need your honest opinion BEFORE I send the check ...
Just can't stay away
Joined:
2010/5/10 18:48
From Rockledge, Florida
Posts: 52
I understand what you're saying but Rick passed a few years ago so asking for cashflow in the last several years is fruitless. Everything has been on hold since he passed. I like what you said about opening your wallet with your heart - I think that's where this is heading. I appreciate your input. Thank you.

Posted on: 8/27 16:57:26
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