ANSWERS from a best selling author.

Gordon and all those that have knowledge on "Dealmaking" Toll Booths...

...I found a man who doesn't manufacture his product (he has it manufactured by someone else as orders come in), no accounts payable, no accounts receivable, been in business selling this same product for 25yrs(but, been selling similar type products for much longer, he is 75yrs young).

The product is special made to order, no one else does it like he can (others have tried and failed).

He is old, and tired(his words) and wants to sell- his knowledge and the rights to the product and all that goes with it (name, etc.)

His main motivation?

To keep the NAME of his Inventor/Partner of 37 years (now passed away since 1985) ALIVE.

His Invento/Partner invented the "Jaws of Life".

For those who don't know, this tool is used like a can opener to get people out of wrecked cars.

He also invented a number of other automotive related aftermarket parts.

I've made first contact. Here is where I'm needing help. He also wants $250,000 dollars for his "knowledge". However, he has stated that he will stay on as long as necessary to help keep the "inventors" name alive by keeping this product out on the market.

He is flexible. But I think he would need some kind of monetary down paymentl. I didn't get the feeling that it could be taken over any other way.

He stated more than anything that he wants to keep the "name" alive. And, that he was flexible. But, he wasn't going to give up what he knows for a "five dollar bill".

I asked him if an offer was made that made any kind of sense at all, would he be open to it.

He said yes.

So....

...is there a way?

Someone tell me. If so I'd like some ideas.

Is there some kind of "AGREEMENT" "DEAL" that I could structure to make it work.

Also, from my own biz experience, I think I would need to see the financials for the past 2yrs.(Tax returns, Profit and Loss)

Any input would be great.

Thanks Sowpubers for your time.


Fishman