Selling Junk Removal Business after 4 years

[ilovegod2011]

@2stupiddogs Same here. Where do we find these businesses?

 

[jerrythemaverick]

@ilovegod2011 As above

 

[ron3865]

@jerrythemaverick Yes, how do we find a business to buy without breaking the bank and taking huge risks?

I retired a couple of years back and have lots of time to spare with a small capital to invest. I have been looking for a business to buy or start, but couldn't find anything suitable..

 

[jerrythemaverick]

@ron3865 To be clear, investing in small businesses is relatively high risk for potentially high rewards.

There are several ways to mitigate the risk. Purchase an established business rather a startup. Conduct a proper due diligence investigation. And when possible, shift some of the risk to the seller by having them carry seller financing or receive performance-based pay after the sales.

 

[russel7507]

@jerrythemaverick When does a broker like yourself get involved on the buying side? Do you help look for businesses that might fit the buyers risk appetite and type of business they might want to go into (like a real estate agent sourcing and attending open houses with a client)?

 

[jerrythemaverick]

@russel7507 More than 90% of brokers work exclusively for sellers. I am one of a few brokers that also represents buyers, working on a retainer basis.

I help buyers find and compare opportunities, appraise the value, negotiate terms, make offers, conduct due diligence, get financing, and close the sale.

Around half the time I start helping my clients in the search phase, and other times they run the search themselves and I come in after.

 

[haileysway]

@jerrythemaverick Where are you based?

 

[jerrythemaverick]

@haileysway I’m in Utah but work with clients across the US. My contact information is in my profile.

 

[dano521]

@jerrythemaverick Do you run proper due diligence investigations?

 

[jerrythemaverick]

@dano521 Yes, on the buy side and sell side, depending on who we represent.

 

[mackhernandez]

@ron3865 Starting or buying a small business is always a risk, some are higher than others. For low risk you invest in VOO.

 

[storm1485]

@jerrythemaverick Is that 100k net? I have a small business that I’d like to get out of at some point. I’m at year four and am doing 40-60k net consistently for around 12 hours of work per week.

I’m hoping to scale it up at some point where it could be my full-time job, but if that doesn’t happen I feel like I may not want to do it forever. I’m in the same kind of situation as OP where I have consistent clients but no contracts.