Another left field question for some of the experts here. Especially this one as I know there are some small business type owners. I'm curious when it comes to a small business, esp. with the new court laws on how a business can be a person. What happens when a business fails? Does that debt go to the owner? Or is the owner actually clear of that past any personal investment they've made?

Other question is, I think I have a vague idea on starting a new business. But what about buying an existing business especially if it's currently profitable? Bank would be looking at business plan/merits of the business itself. Or would it largely based on your own personal assets?

Questions stem from basically finding a business directly involved in one of my hobbies may be for sale. Suddenly seemed like a good way to maybe have a career change. It's a hobby/store that I have another forum of people including an admin that works at the place. So I think I'd have a fair amount of support in terms of product knowledge that I might not know. The obvious big thing against me would be basically not having any college or education around running a business. I do have a practically fiance who is a long time billing lead/boss and I'd like to think generally academically I'm above average. (But am street-tarded) So bets would still be against a wise choice, but I'd think is at least in the realm of worth thinking about. All the better is for a fairly niche hobby, there is only one store in direct competition in town, none in loveland, and like one place in Greeley I've never been too. The best part is I've gotten wind that the competitor is going out of business which would help create a pseudo monopoly. (Another factor of why I'm considering it more than I would otherwise.)

So advice or just slap me down for a silly pipe dream.