Looking into taking over the family business.

[Evan Molyneux]

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

[Erich Martinez]

Evan,

I think you have an interesting opportunity here.  I've read briefly on La Veta and noticed its a very small town.  I was thinking creatively if I inherited this "opportunity", that's how I would word it in a positive way. what would I do?  Given its a small town your parents are most likely part of a town hall, and you mentioned the business that is owned is a staple of the community.  I think the worst thing would be to fail the business as it could fail the town as well.  Thinking outside the box, maybe there are ways to grow the town, maybe the restaurant has items that are unique that could be marketed outside the town.  I just read golf nearby?  Maybe golf vacation getaways? Maybe the RV area could be setup as a camping location where people can go to the website to setup vacation retreats.  Maybe buy unique goods from the restaurant online.  I know given Colorado's growth, camp grounds seem to fill up quickly, maybe this is an advantage.  Given its a small town, maybe the town as a whole could look at growth opportunities to attract visitors.  I was looking at this site:
http://smallbusiness.chron.com/bring-business-smal...

I'm kind of starting out too. Maybe I could help, maybe trade services, I.e. website/data to market for a camp ground spot :-).   I do this on the full-time job, working as an investor part-time, just starting though so learning as I go. As for your parents, if their could be passion restored, maybe they could scale back work, but as an added bonus assist with your common goal. I think having you come in may inspire them by having a common vision on where you want the end-state of this to go?  I'm curious if the town as a whole faces this dilemma?  Maybe a town vision to boost the economy would give added support.

For restaurant you mentioned you have an RV park, could you barter services with with a qualified candidate, say a restaurant manager, camp manager and offer two furnished spots for them to live, and allowing your parents more downtime.  Possibly advertise on craigs as a job with the perk of living rent-free? 

I wish you the best of luck and message me if you have any questions.

Regards,
Erich