Hello,
    I have wanted to own my own business/ diverse-ify my income, and eventually move towards an absentee model as I am finding my time is more critical than my current W2 income.

    I have decided to focus on owning a business by buying a pre-established business, the thinking being it's more about keep doing what has worked and apply modest modernizations as needed (website, Google biz, QoL like WIFi)

    I am looking to buy an established business with a combination of Seller Financing, SBA, PE and my cash, preference in that order. I am generally looking for something that falls under the category of consumer services (laundrymats, car wash, electrical/ home repair, etc)

    I have a business proposal I wrote to help me organize my thoughts, and see several businesses for sale due to retirement in my geographical region which I have started to reach out to through loopnet/bizbuysell.

    I still have some open questions about broker services, expected/anticipated cash flow impacts during ownership transfer, buyer representation(legal, financial, sales) during the negotiations.

    I have been asking my network if any friends of friends have experience so I can mentor with and have not found anyone yet. The YT path gives my scam/to good to be true senses tingle.

    I appreciate any suggestions/ help/ next steps for me to look at next. I have a few books on my reading list buy then build, 4-hour work week, road to financal independence.

    ETA – moving from Proposal to Purchase
    byu/just1workaccount inEntrepreneur



    Posted by just1workaccount

    1 Comment

    1. Due-Opportunity9183 on

      Just bought buy then build as well. Curious about this route too as I always think of starting and running a company but just don’t know what. This path helps with diving into a well established business.

      I see ads on social media for guys trying to walk through this “methodology” and wonder if it has gotten too saturated or is too good to be true.

      Seems me and you are in a similar spot of finding more info and looking for a mentor. Best of luck!

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