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

[smmokan]

Everyone has their number, right?

[Danno]

https://www.tetongravity.com/forums/...d.php?t=330113

[Ski220]

Buy a liquor store.

[snowaddict91]

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.

[Jeffreaux]

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.

[shroom]

thank you for your contributions to earth

[Core Shot]

^

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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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.

[GoldMember]

Hmmmm....wonder if the OP is still looking.... Roofing company located in Spokane(?).

[Dshack89]

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.

[schindlerpiste]

Good for you, mang. Best of luck!

[ex-powderbroker]

glad to hear you found something. i’d 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.

[Wookiee]

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?

[shroom]

badass, good work


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[doebedoe]

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?

[Jeffreaux]

Hey, great job and congrats. Enjoy the ride.

[Core Shot]

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.

[FortySixMac]

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.

[FortySixMac]

---

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?

[MiddleOfNight]

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.

[NBABUCKS1]

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

[zion zig zag]

I must’ve missed this. As someone with an old house with mature trees I’ve 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 didn’t have the slimy upgrade push of the other companies. Good job Dshack.


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[kokomas]

good to know!

[BeanDip4All]

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.