Terrence - my first question is “What is your wife buying?”
Is it a customer list, processes, inventory, tools, instruction, show
list or what? How does you wife differentiate her production items
from the former owner - and does the former owner agree not to
compete, and to pass on orders for same, etc.
Once you have figured out what she is buying, what is the present
value of the potential earnings less the cost of production, etc,
Then you and she can produce a business plan that says how she will
repay the borrowed money, and still make a living. Once that is
done, and you are still sure you want to go ahead, call your credit
union or bank and ask for advice. If they don’t want to loan you the
money, they should be helpful in directing you to a place that would.
Unless this is a huge amount of money, I’d suggest that you get a
signature loan on your personal credit and get on with it.
Buying a part of a business, especially when it has a lot to do with
the artist producing it, is something for which I’d advise getting a
Perhaps an alternate option is to have your wife produce the
repetitive work on a contract basis for the original artist for a
while. Then she will better understand what she is buying.
Just some thoughts - in a former life I did mergers and acquisitions.
that probably explains why I make a living with a torch now.