Is now the time for a new press shop?

I have the opportunity to purchase a nice shop. Two or three windmills, a guillotine, polymer washout system, etc. I am hesitant because of the economy and the fact that letterpress studios are becoming so much more common these days. Any recommendations?

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Oh boy is this a tarbaby.
I say the following not to be sarcastic, smart mouth, or totally discouraging. I am very serious and trying to be helpful and realistic. Read it carefully and perhaps several times.
For the moment, NO. You should not make the purchase. It does not appear that you have done enough homework, Have you seen the books and are they in order and can you understand them? Do you have any grasp or analysis of the market in your area? Do you have a business plan?

You should accept little or no advice from any of us for the moment. We know nothing about you, your printing skills, your business ability, or your location.

Your SeaWolf handle indicates you may have a maritime connection. I too. If I am correct, I offer my remarks as one sailor to another.

If I had the money right now, I would jump into buying the shop.

The equipment is worth half what the owner wants. What is the status of his lease? The customer base is really worth nothing these days. Do your research and see if it makes sense for you.

thanks for the feedback. i know it is a hard question to answer w/o specifics.