Boring businesses can be very profitable indeed. In this blog post we’ll take a look at some boring businesses that are listed for sale each making more than $300,000 annually. And I’ll drop my thoughts on the opportunities for each business. Home Inspection Services: The Hidden Value in Every Home Home inspection services are a lesser-known yet highly profitable niche within the real estate industry. Home inspectors play a pivotal role in safeguarding the interests of both buyers and sellers by evaluating the condition of residential properties. What makes this business appealing in terms of
In 2009 I started a business drop shipping motorcycle parts. That one did fairly well and sold in 2012 for a 6 figure exit. I started another business in 2011, a patio construction business in Florida. That one did great and sold for a 7 figure amount in 2020. In that time span I took a crack at several other businesses that took a bunch of time / money and ultimately flopped. In 2016 I took a deeper look into buying existing businesses using SBA Loans, and things changed in way that really built my
Selling a business is a significant milestone in an entrepreneur’s journey. It can bring financial rewards, opportunities for new ventures, and a chance to realize the fruits of your hard work. However, amidst the complexities of selling a business, one crucial aspect often raises questions: What happens to your cash reserves? Cash reserves create a tricky conundrum in many business sales. Is cash included? How much cash is included? How it calculated? Is a valuation multiple applied? In this post, we’ll explore the tricky aspect of cash reserves when selling your business and provide valuable
Selling a business can be an exciting and lucrative endeavor. However, amid the excitement of a successful sale, it’s crucial not to overlook one significant aspect: capital gains tax. Understanding and effectively managing capital gains tax is essential for preserving the proceeds of your business sale. In this comprehensive guide, we’ll demystify capital gains tax and provide you with valuable tips to minimize your tax liability. What is Capital Gains Tax? Before delving into the specifics of capital gains tax in the context of selling a business, let’s start with the basics. Capital gains tax
In the world of business acquisitions, opportunities abound for buyers and sellers alike. But what if you don't have the entire purchase price upfront or want to sweeten the deal to attract more potential buyers? This is where seller financing comes into play. Seller financing, also known as owner financing or seller carryback, is a financing arrangement where the business seller provides a loan to the buyer to cover part or all of the purchase price. It's a powerful tool that can benefit both parties in a business sale. In this comprehensive guide, we'll delve
Small businesses are often like a tight knit ‘clique’. Everyone knows everyone, and often times every employee has regular interaction with the owner. This means that as as the new business owner you’re the outsider and that can be VERY intimidating. Particularly for introverts or ‘numbers’ guys that really don’t give off that warm and fuzzy vibe. As the new business owner, you need to get the employees to buy in to your position as owner of the business (at least) and likely get them to buy in to your vision of the business going
When it comes to red flags when buying a business nearly all buyers expect it to come up in some form of black & white whether that’s the financial statements or graph of business trends. Maybe they think it will be over stated inventory on the balance or an increase in customer concentration among — and those are legitimate red flags, but there is another one. While those examples may have some risk, they can also have logical and quantifiable risk. So what is it? Family. Family of the seller working in the business. Right
Grinding up the ladder isn’t for everyone. Acquisition entrepreneurship is perfect for people who don’t need a boss to take responsibility and work hard. In addition, once you get your businesses running the way you want them, you can reap the financial rewards while having a flexible lifestyle. After all, it will be you setting the rules. But the first step is finding businesses with excellent cash flow. The best cash flow businesses for acquisition entrepreneurs are equipment rentals, laundromats, ATMs, renting storage units, vending machines, and carwashes. Look for opportunities that can capitalize upon
Pros and Cons of Hiring a Financial Advisor Despite the 1% Fee Managing personal finances is like sailing on an ever-changing sea. The tides of economic fluctuations, investment opportunities, and retirement planning can be challenging to navigate alone. This is where financial advisors step in, offering expertise and guidance to help you chart a steady course towards your financial goals. However, one potential roadblock often raises eyebrows: the fee, typically around 1% of your assets under management. While it may not seem like much, that 1% takes a hefty chunk out of the returns. To
Planning your investment strategy to the T takes time, money, and research. One of the most profitable avenues you can take is commercial real estate and have your investment focus on this one asset instead of various smaller ones. Your choice of investment avenue also determines the success of your commercial real estate investment portfolio. 5 Types of commercial real estate include: Office Buildings Retail Spaces Industrial Facilities Hospitality Multifamily To get a full and concentrated exposure in commercial real estate, you'll need to understand these different types, get to know your concentrated investment options,
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