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March 17, 2016, 06:34 PM
I would buy an existing business.

We are in the golden age for buying existing business using very little of your own cash.

I was talking to a seller 2 days ago who when asked the question What are you going to do if you don't sell? His answer... I will shut it down. He went on to explain that he is almost 70 and he wants to move on.

Lots of baby boomers in his situation, and many might welcome a buy from profits, contract deal, and some, will shut it down.

What Larry was telling me this morning is not unlike Jim Straw's Finder Fees in that, you look for buyers first.

He showed me a few examples of REGIONAL CHAINS of 8 to 15 units which rapidly expanded by acquisition, and some of those were new, less than a year old businesses.

And, some blogs can get very big traffic numbers too, a few of them on Flippa have recently sold for 15,000 to 45,000 bux, and have only existed for 8 to 15 months built on next to nothing costs platforms.

1500 for WordPress and hosting for a year or so, and a 15k sale meets Larry's criteria for a 10 times investment op.

But, he showed me off line deals where the numbers were 10 times that amount, simply because of the type of business AND/OR the location of the business which made it attractive to a parent company who either didn't want more competition or the location gave them a strategic advantage over existing competition. We've read about the millions of dollars for tech and such, but, there is an ongoing demand in the real world for brick and mortar and mom and pop operations which make life easier for a deep pocket company.

Taking over an existing business is a good strategy, I wrote about Tiny the tow truck driver many years ago, he is, in fact, ready to sell and retire.

I would consider buying a business, IF, I thought I could flip it quickly.

Buying a business is indeed a good option for those who want to work.

Work? WERK??!? Not for me.


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