You have to weigh the goodwill, website, etc against what you can build with $50,000 worth of advertising. Not all customers will transfer to a new owner but enough will give you the first chance to maybe make it worthwhile. When I bought my business, many customers didn't even notice the difference. With the right person, you may be able to step right in and start making money. You may be able to negotiate a better deal if he has no other offers. I don't know George from an ass hole in the ground but it sounds like he has a decent business and equipment.