A big problem I see with the business is them having some other business do the actual rubber injection. The only "real" equipment you have is some molds. They would not be cheap but they also would not be that valuable.
So then you move on to the "blue sky" part of the business. They have been out of daily operations now for several years. So there would be little if any value as far as customer base. It is all gone. The main consumers have switched to other suppliers of some sort.
So you have a business that really is not a true business. It is more of a hobby. Then I bet that the Widow and daughter think it is worth "Good" money as the business was important to their husband/father. So making it a profitable business would be difficult.
Earl posted on here about a very similar business a few years ago. That was Crescent Forge. I went and looked at the business. The molds where the only thing of value in the whole building. The machinery was OLD and of little use in a modern factory setting. You would not be able to make the product like it was done because of safety issues and EPA requirements. I know that some of the Rare dies were scrape but they really did not have much value. If there are only a few hundred of that model of plow left in the world your not going to be selling many plow parts for them.
The steering wheel refurbishing would be much the same type of thing. It seems like they were only doing 14 steering wheels each month???? Even if they made a bunch of rubber seat springs the business would not be able to generate enough revenue to be much more than a expensive side line.
If the business was a turn key operation then it would have more value and you could easily build a business plan for it being successful.
With the current form of them refurbishing the steering wheels the business plan just has too many problems.
1) The reliance of an outside specialty company to preform a major part of your business, the rubber injection company.
2) The limited production of the company as it was setup.
3) A very narrow and limited market for the end product. There are just so many people that will pay the additional cost for an original style steering wheel. Most will just buy a "cheaper" plastic one and go on.
So I think that the odds of the company ever being viable again are remote/slim.
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