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

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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

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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

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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

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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

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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

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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

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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

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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. Determining Key Man Risk is essential in small business acquisition as small businesses have fewer staff members and a higher likelihood

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Acquiring a business is a big deal, and doing so in the best way possible will take a few considerations. You can either obtain a small business as an asset sale or stock sale, with no in-between options, so depending on your company structure and goals, one acquisition method might be better than the other.Asset sales are best for small business acquisitions from a buyer's point of view due to favorable tax implications, fewer liabilities, and more freedom in structuring the new company. However, buying a small business can sometimes work better with a stock

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