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  1. #26
    Join Date
    Apr 2004
    Location
    Three-O-Three
    Posts
    14,344

  2. #27
    Join Date
    Sep 2005
    Location
    PRB
    Posts
    23,685
    "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
    319
    Buy a liquor store.

  4. #29
    Join Date
    Nov 2010
    Location
    CO/UT
    Posts
    2,298
    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
    112
    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
    3,427
    thank you for your contributions to earth

  7. #32
    Join Date
    Mar 2005
    Location
    Dystopia
    Posts
    11,489
    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.
    Life has become immeasurably better since I have been forced to stop taking it seriously.
    Hunter S. Thompson

  8. #33
    Join Date
    Apr 2006
    Location
    Spokane/Schweitzer
    Posts
    5,587
    Hmmmm....wonder if the OP is still looking.... Roofing company located in Spokane(?).

  9. #34
    Join Date
    Feb 2013
    Location
    SLC
    Posts
    627
    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
    10,164
    Good for you, mang. Best of luck!
    A society that puts equality before freedom will get neither. A society that puts freedom before equality will get a high degree of both.
    ― Milton Friedman

  11. #36
    Join Date
    Sep 2008
    Posts
    10,948

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

    glad to hear you found something. id 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
    Posts
    28
    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
    3,427
    badass, good work


    Sent from my iPhone using TGR Forums

  14. #39
    Join Date
    Oct 2020
    Posts
    2
    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
    4,296
    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
    2
    That's enough.

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