Buying out a business vs starting own

Hello, I work at a company doing engineering work with another employee who does sales. We are looking to branch off from our current employer and start our own business doing the exact same thing. The topic of us buying out the company has came up with the owner. The only problem is is that the owner is over valuing the business by an insane amount and we would be hesitant to buy it for a tenth of what he wants for it. The company provides parts and service warranties to the product that we sell, how do you find an accurate cost for these warranties? If we did buy the business would it be fair to assume that my partner and I would have to sell our services to cover these warranties so the owner would owe us money? The only thing of value in my eyes is the website which is the #1 result on google for the product in our area. Other than that the company has some tools and a few out of date products that are stacked up around the shop that are only worth their scrap value. We have a client list but the product we sell is usually a one time purchase. We honestly would only want the website.

My partner and I take care of 90% of the work from day to day operations and If we were to leave and start our own company, it would certainly force our current employer to try and sell to someone else or go completely out of business. Is this wrong to do? Neither of us signed NDA's or NCC's.

Does anyone have advice on what course of action we should take or has anyone been in a similar situation?


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