Well the time has come and I have been offered to take over my former bosses firm. He is retiring Dec. of 2013 and wants to start transitioning in the next few months. To give a little background, he works about 12-15 hours a week since he also has a mediation firm. His clients are very loyal and he firmly believes there will be a high retention rate. T-12 is around 180,000 and his overhead is around 45k. I know how to figure out a valuation on his business, but I am looking for a little feedback of whether I should make the jump or not. I have assets (not a lot, but some) of my own so my T-12 would be pretty good going into 2014. He is asking 425,000. I know that is a lot more than the going rate, but it is a turn key office. Assistant, bookkeeper, furniture, technology, the whole deal. I would also be grandfathered into his payout of 95%.   Any thoughts?