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  1. #1
    Join Date
    Feb 2013
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    SLC
    Posts
    330

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

    This is a crazy long shot, but I figured why not...I'm making a career pivot and am launching a search fund to buy and run a small business in the Intermountain West (more info: www.altapine.com). I am industry agnostic and am instead focused geographically on locations near good skiing/biking (ideally sticking in SLC area but open to move for the right opportunity). If anybody has any interesting leads on potential businesses for sale in the $1M to $8M range, let me know!

    Sent from my SM-G950U using TGR Forums mobile app

  2. #2
    Join Date
    Sep 2006
    Posts
    3,901
    Tell me about the search fund.

  3. #3
    Join Date
    Dec 2004
    Posts
    12,170
    Sell you mine for 1 mil.

    Turnkey operation, yearly gross of 100K, major potential. Minimal inventory, knowledge based. You would be perfect.

    I can send you my paypal account #, transfer the funds and its all yours. I will throw in 2 months training.

    Bozeman/Big Sky area.
    Ooof!

  4. #4
    Join Date
    Nov 2002
    Posts
    6,014
    Your buzzword bingo game is strong. For that, I present you a better offer than Not Bunion. For $1mm you can have my general contracting business. Strong book of business, mostly not asshole customer, a trailer of tools that mostly work, employees that mostly show up. It would be perfect for you because, ya know "I’ve always been passionate about building things; from a shed construction business I started in middle school".

  5. #5
    Join Date
    Sep 2018
    Posts
    1,068
    I'll sell you Foggy's construction business for 1.5 mil. It's more than Foggy will charge you directly, but I'll throw in a new logo and a case of beer.

  6. #6
    Join Date
    May 2002
    Posts
    29,575
    Check out Flippa. Lots of established online businesses for sale. Most aren't as high as what you have to spend but you might find something that works.

  7. #7
    Join Date
    Feb 2013
    Location
    SLC
    Posts
    330
    Lol, I expected the replies...well deserved haha.
    Quote Originally Posted by Rideski View Post
    Tell me about the search fund.
    The basic idea is that baby boomers have solid businesses but dont have kids who want to run them...but the biz is too small for private equity. It typically takes 12-18 months to find a good business, using a combo of business brokers and direct sourcing. Once you find a business, you bring together bankers and investors to close the deal. Then, you step in as the CEO and grow it.

    Typically, you'd go raise $500k or so to finance the search process (lawyers and accountants are expensive and you draw a salary). But, I'm self funding my search phase (or rather my wife is), meaning I can target smaller businesses and retain more equity because I'm not diluting investors.

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  8. #8
    Join Date
    Dec 2005
    Posts
    1,814
    want to move to Canada?
    what's orange and looks good on hippies?

    fire

    rails are for trains
    If I had a dollar for every time capitalism was blamed for problems caused by the government I'd be a rich fat film maker in a baseball hat.

  9. #9
    Join Date
    Dec 2006
    Location
    Your Mom's House
    Posts
    6,414
    Quote Originally Posted by Dshack89 View Post
    The basic idea is that baby boomers have solid businesses but dont have kids who want to run them...but the biz is too small for private equity. It typically takes 12-18 months to find a good business, using a combo of business brokers and direct sourcing. Once you find a business, you bring together bankers and investors to close the deal. Then, you step in as the CEO and grow it.

    Typically, you'd go raise $500k or so to finance the search process (lawyers and accountants are expensive and you draw a salary). But, I'm self funding my search phase (or rather my wife is), meaning I can target smaller businesses and retain more equity because I'm not diluting investors.
    What exactly makes you think that you can take a business that you know nothing about, in an industry you know nothing about, with a client base that you know nothing about, and "step in as CEO and grow it."

    What exactly do you think small business owners do, sit on their dicks and watch TV all day?

    You should definitely buy Foggy's business. I'm pretty sure it'll be no problem to just jump in as CEO and grow it.
    Quote Originally Posted by Norseman View Post
    All ye punterz! Leave thine stupid heavy skis in the past, or at least in the resort category, for the age of lightweight pussy sticks is upon us! Behold! Keep up with the randocommandos on their carbon blades of shortness! Break thine tibias into spiral splinters with pintech extravagance!

  10. #10
    Join Date
    Oct 2003
    Location
    slc
    Posts
    10,803
    PM fastfred.

  11. #11
    Join Date
    Sep 2005
    Location
    Wasatch Back: 7000'
    Posts
    8,934
    Question: Are you paying the usual 10% finder's fee
    “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

  12. #12
    Join Date
    Feb 2013
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    SLC
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    Quote Originally Posted by adrenalated View Post
    What exactly makes you think that you can take a business that you know nothing about, in an industry you know nothing about, with a client base that you know nothing about, and "step in as CEO and grow it."

    What exactly do you think small business owners do, sit on their dicks and watch TV all day?

    You should definitely buy Foggy's business. I'm pretty sure it'll be no problem to just jump in as CEO and grow it.
    Of course there is a steep learning curve. But tons of businesses would grow if they did simple things like professionalize sales and had access to capital to grow faster. The average IRR for search funds is 37% (that number is likely a few years old). PE and VC can't even sniff that.

    Sent from my SM-G950U using TGR Forums mobile app

  13. #13
    Join Date
    Nov 2003
    Location
    none
    Posts
    6,337
    Whatever it is, make sure you can do it early/late or from the chair.

  14. #14
    Join Date
    Feb 2013
    Location
    SLC
    Posts
    330
    ^ that's the dream for sure! Gonna be a hard first few years but hopefully can end up there eventually. My main motivation is to get off the road. I'm a diamond on delta and am not proud of it.

    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%.

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  15. #15
    Join Date
    Sep 2010
    Posts
    713
    Quote Originally Posted by Dshack89 View Post
    Lol, I expected the replies...well deserved haha.
    The basic idea is that baby boomers have solid businesses but dont have kids who want to run them...but the biz is too small for private equity. It typically takes 12-18 months to find a good business, using a combo of business brokers and direct sourcing. Once you find a business, you bring together bankers and investors to close the deal. Then, you step in as the CEO and grow it.

    Typically, you'd go raise $500k or so to finance the search process (lawyers and accountants are expensive and you draw a salary). But, I'm self funding my search phase (or rather my wife is), meaning I can target smaller businesses and retain more equity because I'm not diluting investors.

    Sent from my SM-N970U using TGR Forums mobile app
    Very true about baby boomer’s kids, had this discussion the other day. Look into any business that involves operations, kids don’t want to run it and generally baby boomers are leaving a ton of margin on the table.


    Sent from my iPhone using TGR Forums

  16. #16
    Join Date
    Oct 2008
    Location
    Vernon BC
    Posts
    1,676
    There is great ski manufacturing company you should look into ...

    https://www.tetongravity.com/forums/...kis-quot/page7
    "Its not the arrow, its the Indian" - M.Pinto

  17. #17
    Join Date
    Dec 2005
    Posts
    1,814
    Quote Originally Posted by Dshack89 View Post
    ^ that's the dream for sure! Gonna be a hard first few years but hopefully can end up there eventually. My main motivation is to get off the road. I'm a diamond on delta and am not proud of it.

    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
    4x cash flow? Really? I can think of 5 ski shop owners that'll sell you their store right now.
    what's orange and looks good on hippies?

    fire

    rails are for trains
    If I had a dollar for every time capitalism was blamed for problems caused by the government I'd be a rich fat film maker in a baseball hat.

  18. #18
    Join Date
    Sep 2006
    Location
    Midgaard
    Posts
    2,744
    Depends on the industry but I see multiples that high for sure.


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  19. #19
    Join Date
    Jan 2008
    Location
    livin the dream
    Posts
    3,537
    “My expertise is in developing and translating concepts on a whiteboard into bottom-line growth by serving as an ambassador between senior leadership and front line employees.”

    https://youtu.be/m4OvQIGDg4I


    Sent from my iPhone using TGR Forums
    Best Skier on the Mountain
    Self-Certified
    1992 - 2012
    Squaw Valley, USA

  20. #20
    Join Date
    Jan 2010
    Location
    your vacation
    Posts
    1,754
    we are actually selling two business right now, my partner has his business and I have mine we share the same space
    we are looking at doing a 2 for 1 so it's a win for you
    I give massages with a happy ending and he buffs assholes
    we both survived the last recession fully intact
    the two ounces in the fridge don't come with the buisness
    the hot chick in the showroom doesn't come either sorry
    the real estate will be extra, pretty sure we want to unload it too because a big assesment is coming
    how's breckenridge sound? plenty of bro brah employees to go around

  21. #21
    Join Date
    Jan 2010
    Location
    your vacation
    Posts
    1,754
    Quote Originally Posted by Dshack89 View Post
    Of course there is a steep learning curve. But tons of businesses would grow if they did simple things like professionalize sales and had access to capital to grow faster. The average IRR for search funds is 37% (that number is likely a few years old). PE and VC can't even sniff that.

    Sent from my SM-G950U using TGR Forums mobile app
    what learning curve is that? your talking to someone who barely graduated high school
    proffesionalize sales? WTF? people are so tight the assholes need a pipe wrench and a vice
    I got lots of capital 85k in credit all maxed out too

  22. #22
    Join Date
    Oct 2008
    Location
    Vernon BC
    Posts
    1,676
    The fracking industry is starving for investment capital right now .... May be a great time to jump in.
    "Its not the arrow, its the Indian" - M.Pinto

  23. #23
    Join Date
    Jul 2005
    Location
    PNWET
    Posts
    3,660
    Plenty of mom & pop trucking companies. Easy money,
    https://www.tetongravity.com/forums/image.php?type=sigpic&userid=3982&dateline=1279375  363

  24. #24
    Join Date
    Nov 2006
    Location
    Seattle
    Posts
    6,373
    Quote Originally Posted by Dshack89 View Post
    f funding my search phase (or rather my wife is)
    Is she poly?
    Quote Originally Posted by Foggy_Goggles View Post
    If I lived in WA, Oft would be my realtor. Seriously.

  25. #25
    Join Date
    Aug 2016
    Posts
    2,025
    Quote Originally Posted by dtown View Post
    Very true about baby boomer’s kids, had this discussion the other day. Look into any business that involves operations, kids don’t want to run it and generally baby boomers are leaving a ton of margin on the table.
    How many of said businesses are in a place the kid wants to live and can afford to live? I know, in similar businesses, something on the west coast will sell while something in the NE or Midwest will languish because people don't want to live in there.

    there's no harm in OP asking, but damn - there aren't that many businesses in region OP wants that meet the criteria he's looking for. make a list and coldcall.

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