Quote:
Originally Posted by garysanfran
When buying a business, there is a value for "goodwill". It's a subjective value but is supported by a businesses established good reputation.
Never on a balance sheet is "badwill". Buying a business with a bad reputation may be very hard to overcome. It's probably easier to ruin a good business, than to rebuild a bad one. However, rebuilding a bad one can be more rewarding and perhaps more profitable.
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You would be surprised.
Hang a banner out that says "under new management" and people will return but after that it's up to the new owner to get them coming back.