I wonder whether she would be willing to let you be in her studio with her for a weekend or something. An established client base (how many are there?) and website are worth a lot if you can continue to deliver the same product. You DO want to know how the traffic that her site has gets there ... if it's not all free search engine traffic, you'll want to be clear on that too. How much of her business is dependant upon 'her' (forum posts and such), ppc ads (will she train you in this area) and how much is pure search engine ecommerce? The wholesale accounts are promising ... does she have pending orders? Selling to a store once does not mean it happens again ... and here too, will they be cautious with a new manufacturer? It would be more 'real' if she were to sell to you with pending orders. I can feel your excitement! And I'm sure that you can make that amount back if you put your mind to it. There are a lot of parts to weigh, eh? The real value here is in the website and customer list ... imho. The production part and whatever materials that come with it are just details ... one maybe a hump to get over and the other a happy bonus. hth, Andrea