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Updated over 8 years ago,
Looking into taking over the family business.
My parents own and operate a restaurant, bar, RV park and motel all under the same sole proprietorship that is in its 12th year of business. They have built a business that has become a pillar of the small community of La Veta, Colorado, but they have allowed it to run them into the ground. My wife and I have achieved the goals that we wanted to accomplish in our first years of being together and we are faced with the reality that if we don't go take over my families' business, my parents will either sell the business which wouldn't leave them enough to retire on, or keep running the business and allow it to put them in an early grave. We have decided that it is time for us to try to come up with a plan to step in, the business needs a significant injection of cash to get it up to date, however it does have equity to work with. We are reaching out today to see if anyone will hear our situation out and give us guidance.
Thank you for your time,
Evan Molyneux