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Try Buying a Business Instead of Starting One
2023.07.11
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Try Buying a Business Instead of Starting One
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Yes there are businesses which are sold like this because the owners are just tired of it and want some quick money to quit
He makes it sound easy but how easy is it to find businesses like that? And at that size, are you buying a stream of income or are you buying yourself a full-time job?
See this works in a scenario where either someone is leaving and doesn’t need the money or they’re retiring and don’t need the money. Cause no one’s selling a 250K business for less than 3 years profit unless they’re content.. Which most rich people are NOT
Am I the only one who clicked because I thought he was wearing Mickey mouse ears?
POV: me buying a YouTube Channel
All these people saying it’s not possible, but I recently bought a business doing $150,000 for $300,000. Financed the entire purchase with private debt and owner financing. Only put in $50,000 as working capital to get started.
Thing about small business is that they sell for low multiples between 2x to 4x. They are not like public companies that can function without active management. Owner labor is often taken for granted. Because of this you often have willing sellers who wants to stop the grind.
In many sense, small business valuations are not perfect, and it’s more about how you navigate personal relationships. That’s business in the real world.
I saw the thumbnail and did a double take because i thought he was wearing mickey mouse ears
To everyone wondering why a business owner that has a business doing 250k/yr in profit would sell their business for 625k, yall don’t know people lol.
I’ve met business owners who are successful, yet hate running a business. It isn’t about convincing someone who is happy with their situation, it is finding someone wanting to get out.