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October 5, 2023
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 ...
September 28, 2023
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 ...
September 23, 2023
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 ...
September 23, 2023
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 ...
September 20, 2023
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 ...
August 31, 2023
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 ...
August 16, 2023
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 ...
August 16, 2023
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 ...
August 16, 2023
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 ...
June 21, 2023
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 ...
June 17, 2023
Real estate investment is a trustworthy way to generate consistent income and attain financial growth. Before making any investment decisions in real estate, it is crucial to understand the two categories within this field. If you're considering investing in real estate, weighing the advantages and disadvantages of commercial and residential properties is essential. Commercial real estate allows business practices, and residential real estate is used for housing. Commercial and residential real estate are good ...
June 16, 2023
Key Man Risk is the risk that accompanies there being one highly integral member of a business. The absence of this crucial person could cause a company to crash, as this person is critical in business functionality over any number of factors. How does one assess the Key Man Risk when acquiring a small business? To assess Key Man Risk, one must identify the key man and determine dependency, retention, succession, diversification, and revision. ...
June 10, 2023
For high income individuals, taxes can be a costly factor that eat into the returns of any investment. Assume paying ordinary income or short term capital gains rates at 33%, your returns takes 10% return down to 6.66%. And while that doesn’t sound horrible, that results in $200,400% haircut over 20 year period and an initial investment of $300,000. Real estate tax benefits are often overlooked and there are arious ways which property ...
June 10, 2023
In almost every significant property transaction, finance is obtained using a combination of equity and debt rather than cash. This finance is provided by investors, who require a return on investment as a reward for risk-taking. Different levels of risk attract different returns, and a “capital stack” is created. What a capital stack is and why understanding it is so important is what this article is all about. The capital stack refers to the ...
May 26, 2023
Some of the information that financial gurus are pushing, just isn’t practical in the real word. Here are some ‘money myths’ that I think financial gurus harp on that just aren’t accurate. // Your emergency fund needs to be in cash. The Dave Ramsey’s of the world commonly advise individuals to keep their emergency fund in cash, emphasizing liquidity and easy access. While it’s important to have quick access to funds in case of ...
May 25, 2023
I recently caught this video interview with the billionaire found of Interactive Brokers in which he expressed a very grim outlook on US stock markets when asked “do you think we’re headed for another market crash?” Start video at 8:41 His exact words: “There will be crashed and there will be a final crash, a final crash from which there is no return.” Grim market forecasts are nothing new but usually they come from ...
May 24, 2023
My 2020 Toyota Tacoma recently crossed the 3 year old mark with 60,000 miles on it. Yea I’ve put a lot of miles on it as a result of my cross-country travels with my mountain bike. So I figured it would be time to make a short list of pros and cons to offer insight to anyone interested. My specific vehicle: 2020 Tacoma SR5, long bed (no 4wd) I am very happy with my ...
May 23, 2023
So you're a Musk fan boy? That's cool.The dude has made some money and many people want to invest in what he is working on regardless of fundamentals.There is Tesla, which you can buy via any stock brokerage but SpaceX is not a publicly traded company that you can buy.Fortunately there is a bit of a backdoor.The Baron Focused Growth Fund BFGIX holds 9.5% (as of June 20223) in SpaceX. In other words 9.5% ...
May 23, 2023
I caught this twitter thread about retiring early when you are young. The author basically makes the case that if you want to retired early you need to follow the 4% rule... that's a theoretical safe withdrawal rate from a diversified portfolio. In other words, if you need $100,000/year to live on, your portfolio should be $2,500,000. I don't agree with that. Here's my take as someone who sold a business at 28 and ...
April 12, 2023
Do you know what sets the best businesses apart? Their brand. That's how they convey their company to their customers, bonding with them to show value and sell better than they would otherwise. You can use their techniques too. So, what are the best storytelling techniques for small businesses?The best storytelling techniques for small businesses include studying the target demographic, going from zero to hero, and finishing strong. Picking the perfect words to tell ...
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