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  1. #26
    Join Date
    Apr 2004
    Location
    Three-O-Three
    Posts
    14,693

  2. #27
    Join Date
    Sep 2005
    Location
    PRB
    Posts
    26,526
    "fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
    "She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin
    "I'd eat a bag of Dicks and wash it down with a Coke any day." - iceman

  3. #28
    Join Date
    Feb 2018
    Posts
    421
    Buy a liquor store.

  4. #29
    Join Date
    Nov 2010
    Location
    Montrose, CO
    Posts
    3,488
    Quote Originally Posted by Ski220 View Post
    Buy a liquor store.
    Well, you can't in Utah, and its probably a dying business in Colorado with groceries stores carrying full strength now.

    They do drink a lot in Wyoming though, so I hear.

  5. #30
    Join Date
    Nov 2015
    Location
    SoVT
    Posts
    116
    Hey OP,

    Good for you for having the guts to do a search, and having the guts to post it here. You could have skipped your Stanford MBA for all the stellar feedback you've received on this forum. FYI I've found the Polsky podcasts to be beneficial and searchfunder.com seems to be a good forum.

    Valuations are softening already though no one will admit it yet. If you can generate a bunch of leads now two things will happen as the next recession nears, your competition will shrink and the supply of willing sellers will increase.

    Good luck. Be very wary of your biggest risk, anyone with a Stanford MBA and time at Deloitte is 100% likely to underestimate the struggle of entrepreneurship and funding payroll.

    Also, IMHO, don't ever borrow money from the world's toughest collector (the US Treasury) which is exactly what you're doing when you take on a SBA loan. Here's one small insight of how they size a debtor up for tax collections; https://www.irs.gov/businesses/small...nd-other-items. They are relentless and will chase you with a missionary zeal.


    Again, good luck.
    Last edited by Jeffreaux; 11-17-2019 at 02:17 PM.

  6. #31
    Join Date
    Oct 2009
    Location
    seatown
    Posts
    3,641
    thank you for your contributions to earth

  7. #32
    Join Date
    Mar 2005
    Location
    Dystopia
    Posts
    14,371
    Quote Originally Posted by Dshack89 View Post
    ^

    1 other thing I'll add to help explain the investment model: small businesses typically sell for 4x cash flow, so you earn 25% but a SBA loan and seller financing is under 10%.

    Sent from my SM-N970U using TGR Forums mobile app
    EBITDA
    Not cash flow.
    But if you have zero debt, then cash flow is the same.

    I was offered 5x, but had to turn it down, since I’m too young to retire. I need that income stream.

    I wonder how op made out. Some businesses are easier than others. Many small businesses depend on the owner and have no management team to keep things on track, let alone to grow sales. Then there’s the sabotage of leaning out expenses for a few years to make the bottom line look better, planning on a sale and not caring about long term.
    ďIím a subhuman jizz monkeyĒ

    Thx mods. Itís an awesome signature.

  8. #33
    Join Date
    Apr 2006
    Location
    Spokane/Schweitzer
    Posts
    6,410
    Hmmmm....wonder if the OP is still looking.... Roofing company located in Spokane(?).

  9. #34
    Join Date
    Feb 2013
    Location
    SLC
    Posts
    744
    Oops I totally forgot about this thread. Just to provide an update, yesterday I closed on a drain cleaning and inspection business located just north of SLC (Drain Tech). It's pretty much exactly the sort of business I set out to find...a blue collar essential business with good margins that was well run by an honest seller. Nothing sexy, but a very solid business with great prospects.

    It's been a wild ride the last few months and I'll have to write up some more thoughts when I've caught up on sleep.

    But if anyone is in need of drain cleaning / jetting / camera'ing in the Wasatch Front, give us a shot. Unlike some of the national brands, we have fair and transparent flat rate pricing and take care of the problem the first time.

    And also, if you are local and are interested in a career, shoot me a message. With some hard work, you can make a really good living in this industry.

  10. #35
    Join Date
    Sep 2005
    Location
    Wasatch Back: 7000'
    Posts
    11,347
    Good for you, mang. Best of luck!
    ďA society that puts equality before freedom will get neither. A society that puts freedom before equality will get a high degree of both.Ē
    ― Milton Friedman

  11. #36
    Join Date
    Sep 2008
    Posts
    12,078

    Looking to buy a business in UT/CO/WY/etc.

    glad to hear you found something. iíd be interested in reading the rest of the story, how did you find it, was what the onboarding like, was this a boomer biz, etc. hope it really works out for you and you get some great ski days too.
    They got a name for the winners in the world

    http://procatinator.com/?cat=80

  12. #37
    Join Date
    Jun 2020
    Location
    Tremontaine
    Posts
    114
    Not sure how I came across this but curious to hear how you are making out with this endeavor. Did you have any experience in plumbing/drainage before hand? Do you do any of the actual work or just the Management aspect of it?

  13. #38
    Join Date
    Oct 2009
    Location
    seatown
    Posts
    3,641
    badass, good work


    Sent from my iPhone using TGR Forums

  14. #39
    Join Date
    Oct 2020
    Posts
    6
    Good work. But can you share more details about the business you would like to buy?

  15. #40
    Join Date
    Jan 2014
    Location
    Gaperville, CO
    Posts
    4,873
    Quote Originally Posted by adrenalated View Post
    What exactly do you think small business owners do, sit on their dicks and watch TV all day?
    Well that's a spot on description of my OnlyFans content. So yes?

  16. #41
    Join Date
    Oct 2020
    Posts
    6
    That's enough.

  17. #42
    Join Date
    Nov 2015
    Location
    SoVT
    Posts
    116
    Hey, great job and congrats. Enjoy the ride.

  18. #43
    Join Date
    Mar 2005
    Location
    Dystopia
    Posts
    14,371
    Know your quick books.
    Read all three financial statements monthly.

    Make and follow a marketing plan. Revise based on results.
    One quick thought is finders fee for plumbers. They might get the first call, and can’t solve it.
    Another great source is property management and large apartments.

    Good luck.
    It ain’t sexy, but it pays the bills.
    And if you have a good team, you can play hooky.
    ďIím a subhuman jizz monkeyĒ

    Thx mods. Itís an awesome signature.

  19. #44
    Join Date
    Dec 2020
    Posts
    93

    Still hanging

    Quote Originally Posted by snowaddict91 View Post
    Well, you can't in Utah, and its probably a dying business in Colorado with groceries stores carrying full strength now.

    They do drink a lot in Wyoming though, so I hear.
    liquor stores still seem to be thriving in Colorado. Guess old habits die hard.

  20. #45
    Join Date
    Dec 2020
    Posts
    93

    Cool Checking In


    Quote Originally Posted by Dshack89 View Post
    Oops I totally forgot about this thread. Just to provide an update, yesterday I closed on a drain cleaning and inspection business located just north of SLC (Drain Tech). It's pretty much exactly the sort of business I set out to find...a blue collar essential business with good margins that was well run by an honest seller. Nothing sexy, but a very solid business with great prospects.

    It's been a wild ride the last few months and I'll have to write up some more thoughts when I've caught up on sleep.

    But if anyone is in need of drain cleaning / jetting / camera'ing in the Wasatch Front, give us a shot. Unlike some of the national brands, we have fair and transparent flat rate pricing and take care of the problem the first time.

    And also, if you are local and are interested in a career, shoot me a message. With some hard work, you can make a really good living in this industry.

    How has business been?

  21. #46
    Join Date
    Jul 2016
    Location
    Mostly the Elks, mostly.
    Posts
    968
    Quote Originally Posted by French Pizza View Post
    liquor stores still seem to be thriving in Colorado. Guess old habits die hard.
    Heck yes they are thriving.

    Markets in these parts only stock the Coors Bud Miller type 'full strength.' No real selection, no wine or liquor. I'm sure I've grabbed a KoolAid for the ride from market, but it doesn't look to be my destination for booze buying anytime soon.

    Maybe things are different in the city.
    north bound horse.

  22. #47
    Join Date
    Jan 2018
    Location
    +3 ogdens
    Posts
    154
    Quote Originally Posted by Dshack89 View Post
    Just to provide an update, yesterday I closed on a drain cleaning and inspection business located just north of SLC (Drain Tech). .


    whats the bro rate on a scope to the city sewer line for ogden (weber county)?

    I kid, congrats
    Last edited by NBABUCKS1; 01-20-2021 at 04:32 PM.

  23. #48
    Join Date
    Oct 2003
    Location
    Ogden
    Posts
    7,049
    I mustíve missed this. As someone with an old house with mature trees Iíve used a couple of different companies for drain cleaning. A plumber friend recommended Drain Tech to me the last time and they were fast, honest and fair. Definitely didnít have the slimy upgrade push of the other companies. Good job Dshack.


    Sent from my iPhone using TGR Forums

  24. #49
    Join Date
    Aug 2007
    Location
    Wilson
    Posts
    1,505
    good to know!
    Day Man. Fighter of the Night Man. Champion of the Sun. Master of Karate and Friendship for Everyone.

  25. #50
    Join Date
    Mar 2006
    Posts
    3,454
    Quote Originally Posted by kokomas View Post
    good to know!
    Good to know you're still hanging round this ole watering hole. And you haven't changed your avatar!!

    Is a cold six pack still the social lubricant of choice here on TGR or have we swung back towards hookers and blow these days.

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