Given the extremely sparse information the OP has given, I can only wholeheartedly endorse the advice
@Clinton has given here. The place is worth precisely the fire-sale value of whatever is inside the thing - usually about 10th-to-5th of the new (Nisbets) price, if that!
Unfortunately not a home owner.
You are hardly in a position to take on such a liability and the interest rates that you will be offered will reflect that fact.
The purchase of the restaurant is £50k. Last 3 years shows an ave profit of £30k p/y.
As mentioned above, at least £25k income for the owner must be somewhere in the books. If it is not there and the so-called 'profit' is in lieu of an income for the owner-manager, then the real profit is a paltry £5k and close inspection of the place will almost certainly reveal additional costs that have conveniently been 'forgotten'. Typical for such costs is the wife doing the books and other admin in her spare time, or just helping out with the place - unpaid!
When you look at many micro-businesses such as this one, it is far from unusual to find that the owners are in effect working for below minimum wage - hardly a satisfactory situation and not one I would like to see you pay good money to be subjected to.
Forget this business, move on, and come back to the idea of buying a business when you've saved some money.
That is all the advice you need on this 'opportunity'!
And now I'll give you some real advice that you can use about starting a real business in this day-and-age and in your specific situation -
I am assuming that you have a job and the wife is at home with the baby, though if it is the other way around, that is about the same thing - so here goes!
Look around you. Look at what you have bought in the past few months. Was there something there that was just too expensive for what it really is? Or was a cheaper version just not available on eBay? Some footlingly stupid little thing, a bit of cable, some kitchen device, some photography gizmo that seems to cost a small fortune for just a piece of metal with a screw in it?
Or is there some everyday problem for which you have had to build your own solution? Or has somebody done this already and is charging a small fortune because no one else is selling them and it is a non-patentable idea?
And here's how the gig goes -
A typical example is a wi-fi dongle. The wi-fi connections built into most laptops and PCs are rubbish and large workstations usually don't have wi-fi built in. I needed one, just one. We also need two more in the office for the laptops that could not get decent connections using their onboard wi-fi. There's a bloke selling dual band and really good wi-fi dongles for £7.98 each on eBay. Now I know that they cost just $1.50 each in boxes of 500 pieces, so about £1 (FOB) - which translates to £2 delivered and cleared. So he is making about £4 gross margin after envelopes and postage on every single one - and good luck to him!
Looking at his feedback on eBay, he is selling about three a week and he also sells loads of other stuff, DP cables, HDMI cables, ethernet converters - Penny-Annie stuff like that. Each item represents about £500 to £1,000 investment in a box of the damn things but translates into £10-£50 turnover a week, about half of which is mark-up. He has a job, his house-bound wife (kids!) sends out the stuff and manages the eBay and PayPal accounts.
He now has 140 items in his eBay shop and the spare bedroom and his front room are both filled with shelves and boxes of goofy stuff from national flags to smartwatches, from HDMI switchers to false eyelashes.
He started with one box of cables bought via the made-in-china website, after being charged £15 for a poxy little HDMI cable at PC World. He bought a box of them for pennies each!
So now, instead of slaving away until one in the morning in some dreadful kitchen (they don't clean themselves!) go and start a REAL business - and you won't have to pay £50k for the privilege either!
