Hi everyone, I am in Florida and have come across a small machine shop for sale. I have an associates degree in Machine Tool Technology and would like to try my hand at my own commercial shop. This shop is advertised as having a "following." I got to look at it and talk to the owner for about 10 minutes, but he had somewhere to be, so I didn't get in depth with him, yet. It is clean and spacious (I only saw today's chips laying around), with room to move my few machines in to supplement what is already there. The building is concrete block with a concrete floor and a shingled roof. Rent is $530 a month. Three phase electric is said to be about $60 a month. There is an air conditioned office, but the shop has fans. There is a toilet and sink, but no shower. He said code wouldn't allow a shower. There are two large overhead doors on opposite ends of the building and a pedestrian door. There are 3 Enco vertical mills that look like Bridgeport clones, 2 have DROs. There are 2 medium sized Grizzly lathes, a couple of small drill presses, a medium sized MSC horizontal band saw, a tool tower (looks like black Craftsman tool boxes) said to be full of tools including measuring tools. None of the machines look very old, but neither are they top of the line American iron. There is some other stuff I don't recall. There was some mention of welders, but I don't know what kind. He showed me some parts he makes for two different customers. Real simple stuff I know I can handle. Mostly aluminum. He claimed in 7 years here, his worst year was part time and he made $65,000. Everything is subject to verification. What kinds of questions do I need to be asking? I'd like to verify ongoing work and see if it's under contract. I also intend to make an equipment list and get some real world prices to judge the value of what I am buying. I know zilch about finding work and pricing it. On the plus side, he will stay for a month's transition. I am living in my wife's parents house (her mother has Alzheimer's and we moved it to keep her out of a home) so my living expenses are slight. His asking price is $50,000. Help! Thanks in advance for all comments.
Ron Thompson On the Beautiful Florida Space Coast, right beside the Kennedy Space Center, USA
The ultimate result of shielding men from the effects of folly is to fill the world with fools.
--Herbert Spencer, English Philosopher (1820-1903)