buybiz
/buybiz185
Where Farcaster convenes to discuss buying / selling small businesses.
Anyone know how much on average it is to start an automatic car wash?
Why are brokers always talking so much?
I was having a conversation about acquiring a majority stake in a business. The owner basically said: "what the hell do I do with a minority stake – it makes the business worthless to me"
Challenge accepted.
Challenge accepted.
Who wants to buy a small business together and “web3-ify” it?
Where are people sourcing small business deals?
Would you ever consider purchasing a small business?
Why / why not?
Why / why not?
Has anyone here bought a small software business and found success (defined by you)?
Have been thinking a lot lately about shifting my mindset from venture/invention to making money
Have been thinking a lot lately about shifting my mindset from venture/invention to making money
Ideas generate feelings, feelings generate actions, actions generate results.
"Buy then Build" got me hooked on the concept of acquisition entrepreneurship. Its worth checking out.
https://www.amazon.com/Buy-Then-Build-Acquisition-Entrepreneurs-ebook/dp/B07JKM2F5Q
https://www.amazon.com/Buy-Then-Build-Acquisition-Entrepreneurs-ebook/dp/B07JKM2F5Q
Some of the most well known founders (I.e., Elon Musk) have taken a “buy then build” strategy.
It's one I think we’ll see even more of thanks to LLMs.
It's one I think we’ll see even more of thanks to LLMs.
Biz acquisition (and mgmt) is time consuming, but done well there's lots of upside.
I've often wondered if other people exist who, like me, on nights & weekends:
- develop investment theses
- source & diligence deals
There should be a better way to
collaborate and draft off each other’s work.
I've often wondered if other people exist who, like me, on nights & weekends:
- develop investment theses
- source & diligence deals
There should be a better way to
collaborate and draft off each other’s work.
Businesses I’ve looked at buying (and passed on so far):
- pest control
- car wash
- gas station
- adult daycare
- laundry mat
- HVAC
- rehab centers
- dry cleaning
Why? - 1. SMB buying got overheated during ZIRP, 2. I didn't want to buy myself a job
- pest control
- car wash
- gas station
- adult daycare
- laundry mat
- HVAC
- rehab centers
- dry cleaning
Why? - 1. SMB buying got overheated during ZIRP, 2. I didn't want to buy myself a job
Mistakes I’ve made buying my first biz:
- not having an earn out where seller is on the hook for a year (min 6mo I’d say)
- margin too low to effectively hire
- underestimating working capital needs (very diff from software)
- weak diligence in their gtm channels
(…prob more gotchas that I fell for)
- not having an earn out where seller is on the hook for a year (min 6mo I’d say)
- margin too low to effectively hire
- underestimating working capital needs (very diff from software)
- weak diligence in their gtm channels
(…prob more gotchas that I fell for)
For anyone looking to sell their business, I HIGHLY recommend this conversation between John Warrillow and Chris Voss.
Mastering the 'how' and 'what' questions are key in surfacing clarity between both parties. Improving your odds at establishing a more balanced outcome:
https://shorturl.at/dhvxG
Mastering the 'how' and 'what' questions are key in surfacing clarity between both parties. Improving your odds at establishing a more balanced outcome:
https://shorturl.at/dhvxG
If you've sold a business before, what was your experience like?
Hello world! If you've considered buying a small business (or own one already), this channel is for you!