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re: Many Baby Boomer businesses going for sale in the next 5-10 years.
Posted on 8/1/23 at 12:21 pm to gumbo2176
Posted on 8/1/23 at 12:21 pm to gumbo2176
quote:
Interested in??? I think you'd better have a lot of hands- on experience and knowledge of the business you find "interesting" because without it, you will likely drive that business in the dirt quick time.
There are a lot of things I'm interested in, but would fail if trying to run a business in most all of them more than likely.
I'm gonna buy an airline.
It's a great way to become a millionaire, if you start as a billionaire.
1
Posted on 8/1/23 at 12:22 pm to CAD703X
quote:
quote:
Should get interesting considering how delusional a lot of them are about the value of their businesses. Reality check inbound.
thats your takeaway from this??
this was also my exact take away. I have spoken to 4/5 individuals about purchasing their companies. in each case, these individuals have built their companies from the ground up and each have an absolute unrealistic valuation of the businesses. I understand why, but the numbers are the numbers. You just have to be patient with these types of guys. They have lived and breathed their business, and it is a part of them. THus, the crazy numbers they give.
Sit back and wait. Some will continue to be opportunities later on, and some will be purchased at a number that you may not agree to. have your eyes open, and be ready to jump.
Posted on 8/1/23 at 12:23 pm to White Bear
Is that sorta like millennials all want to be on YouTube and make 10 million per year?
Should I be jealous that millennials are young and have the YouTube appeal, thus ruining that opportunity for older people lol?
Sounds like it
Should I be jealous that millennials are young and have the YouTube appeal, thus ruining that opportunity for older people lol?
Sounds like it
Posted on 8/1/23 at 12:24 pm to More beer please
quote:
He refused to accept an official 3rd party valuation of his business because he believed it was worth much more.
Pretty typical. I've seen dozens of construction companies lately coming in hot with 4-5X expectations.
Posted on 8/1/23 at 12:24 pm to ronricks
quote:
Good luck negotiating with Baby Boomers. They are the most delusional and greedy bunch out there.
Successfully operating your own business requires someone who is strong, independent and focused on the business at hand not focused on blaming everyone else for your own shortcomings.
Posted on 8/1/23 at 12:24 pm to gumbo2176
I know a lot of people who will not be passing on the family business to the kids. Say they are pulling $250k per year out of the burger stand. The kid goes to Med school and has zero interest in owning the burger stand.
Sell the business and enjoy the time you have left.
Sell the business and enjoy the time you have left.
Posted on 8/1/23 at 12:25 pm to BayouBengal23
Lots of people talking about the price being too much. Think about buying through seller finance. Even if it means buying it from them at 65 with a 5 year seller finance and coast them to 70 to start drawing social security.
My uncle did this at 55 on a 10 year seller finance deal.
My uncle did this at 55 on a 10 year seller finance deal.
Posted on 8/1/23 at 12:25 pm to CAD703X
quote:
thats your takeaway from this??
billjamin is a barely functioning tard
This post was edited on 8/1/23 at 12:26 pm
Posted on 8/1/23 at 12:26 pm to BayouBengal23
want to buy a construction company?
Posted on 8/1/23 at 12:26 pm to billjamin
quote:
He refused to accept an official 3rd party valuation of his business because he believed it was worth much more.
Pretty typical. I've seen dozens of construction companies lately coming in hot with 4-5X expectations.
sounds like old baw stood his ground and got his price?
Posted on 8/1/23 at 12:27 pm to cgrand
Yup. What ya got
Posted on 8/1/23 at 12:29 pm to 777Tiger
quote:
sounds like old baw stood his ground and got his price?
I'd be curious to know what he gave him and what type of business.
Posted on 8/1/23 at 12:30 pm to BayouBengal23
15MM rev at 20% gross job cost profit
Posted on 8/1/23 at 12:30 pm to stout
quote:
billjamin is a barely functioning tard
Thats rich coming from Stout the king of tards.
quote:We know.
Smoking Crack with Hunter Biden
This post was edited on 8/1/23 at 12:34 pm
Posted on 8/1/23 at 12:31 pm to BayouBengal23
quote:
My uncle did this at 55 on a 10 year seller finance deal.
You'll see a lot of this especially is if interest rates stay high.
Posted on 8/1/23 at 12:32 pm to BayouBengal23
My dad's electrical business is for sale. It's in central/west Texas. Truck, shop, tools, equipment, home, all up if anyone is interested let me know.
Posted on 8/1/23 at 12:35 pm to 777Tiger
quote:
Are there more mom and pop businesses owned by 55-65 year olds than any other current generation? If so, why is that?
It was the last time we had actual small business friendly governmental policy, the heyday of when this demographic was opening businesses.
Posted on 8/1/23 at 12:35 pm to AllDayEveryDay
In my line of work most of the people are just going to work for corporations instead of going in to business for themselves. Most of those that do want to build from scratch. This has decimated the market for existing businesses.
Posted on 8/1/23 at 12:38 pm to BoardReader
quote:
It was the last time we had actual small business friendly governmental policy, the heyday of when this demographic was opening businesses.
Yep. It'll be mostly small local and regional businesses that were established before the govt bent over and gave sweetheart deals to giant companies. fricking Bucees even get's subsidies now.
Posted on 8/1/23 at 12:47 pm to billjamin
The millennials should grab them up, I gave up being a wage slave when I was 50, best move of my life. I would do it again if I only made half of what someone else was paying me.
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