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Buying an Existing Business
Posted on 1/16/26 at 8:51 pm
Posted on 1/16/26 at 8:51 pm
I've been mulling around the idea of leaving the corporate world and starting/doing my own thing for a few years and I'd like to pull the trigger in the next few years.
With the Baby Boomers entering retirement there are many businesses that are going up for sale. Has anyone had any experience in locating/vetting these types of businesses and, if so, did you work with any companies or services to assist in the process?
With the Baby Boomers entering retirement there are many businesses that are going up for sale. Has anyone had any experience in locating/vetting these types of businesses and, if so, did you work with any companies or services to assist in the process?
5
Posted on 1/16/26 at 8:59 pm to H2O Tiger
Two things to consider:
1. The only ship that doesn’t sail is a partnership.
2. Never underestimate the other guy’s greed.
1. The only ship that doesn’t sail is a partnership.
2. Never underestimate the other guy’s greed.
Posted on 1/19/26 at 11:46 pm to H2O Tiger
?? support going on your own. I wish you luck and hope it works out. It’s taking the chance that keeps most from doing it. I hope you kill it!
Posted on 1/20/26 at 11:34 am to H2O Tiger
I left corporate world 5 years ago and bought a business then the next year I bought another one. I am so glad I did, I enjoy it much better. I looked online at bizbuysell.com and other business broker websites. But, you need to be careful and do your due diligence to find a positively cash flowing business and know the reason why the owner is selling.
Posted on 1/21/26 at 10:18 am to H2O Tiger
I've seen some stuff pulled in my time.
PM me if you want to get some advice on things to look out for
PM me if you want to get some advice on things to look out for
Posted on 1/21/26 at 10:27 am to H2O Tiger
quote:Yes. You will need to find an affordable but decent quality Quality of Earnings provider at the very least.
Has anyone had any experience in locating/vetting these types of businesses and, if so, did you work with any companies or services to assist in the process?
Check out this podcast. They go through tons of small businesses up for sale and talk through all the angles.
Acquisitions Anonymous
Posted on 1/21/26 at 10:47 am to addistiger
quote:
I left corporate world 5 years ago and bought a business then the next year I bought another one. I am so glad I did, I enjoy it much better. I looked online at bizbuysell.com and other business broker websites. But, you need to be careful and do your due diligence to find a positively cash flowing business and know the reason why the owner is selling.
Living my dream! What's the general industry you bought in? Did you have prior relevant experience?
Posted on 1/21/26 at 10:21 pm to SWINC
quote:
PM me if you want to get some advice on things to look out for
there are no PM's here.
Posted on 1/22/26 at 9:53 am to Sterling Archer
I bought service business's. I had relative experience as my experience was in construction management.
Posted on 1/27/26 at 9:19 pm to addistiger
Thanks for all of the responses everyone. Life got busy over the last few weeks but circling back on all of this.
Spent some time during the ice storm putting pen to paper on all of this (according to ChatGPT I'm an ideal candidate for a SBA loan). Developed a checklist of the things that will need to be necessary in order to move on to the next phase of this project.
The hardest part it seems to start is identifying reputable business brokers. BizBuySell seems like chaos and of course as soon as I started doing research every Instagram ad is for someone selling a "service" or "newsletter".
Spent some time during the ice storm putting pen to paper on all of this (according to ChatGPT I'm an ideal candidate for a SBA loan
). Developed a checklist of the things that will need to be necessary in order to move on to the next phase of this project. The hardest part it seems to start is identifying reputable business brokers. BizBuySell seems like chaos and of course as soon as I started doing research every Instagram ad is for someone selling a "service" or "newsletter".
Posted on 1/29/26 at 7:51 am to H2O Tiger
You need to have someone that knows what they are doing to represent YOU. Don't just trust a broker representing the seller.
Posted on 1/29/26 at 9:52 am to Peejack84
quote:
You need to have someone that knows what they are doing to represent YOU. Don't just trust a broker representing the seller.
This is exactly what I'm trying to find. I had coffee with a friend yesterday who is in the process of selling their family business and was asking about brokers.
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