Craig Ace2 years agoWhat is your experience buying/taking over existing business Recently i've been looking at businesses for sale, or starting my own and it seems pretty standard on flippa and business brokers that a business will generally sell for 10-20x monthly profitThis seems wild to me, considering many people around here will take out loans on a car for 70k and pay it off with a 9-5 making 3200-6000 a month, whereas acquiring a business worth 70k could make them 7k per month. basically could buy an amazing job/income for 100kAlso that every 10 months, assuming you take it all as profit and save it, you could literally buy another business of a similar value and double your incomeI imagine that the wealthier you are, the more valuable your time is, so you can only bite off so much before you run out of time to run everything, which is how stocks/passive investments make senseObviously theres more to it... learning curve running a business, risk etc, but i imagine there are legitimate businesses that are easy to maintain- ie, ordering stock, running ads, or even having them under management and hiring people to run socials at a certain scale. the economics just seem wild to me. i have some money coming in (like 200k), and thinking that this could afford me a 20k per month profitable business and basically set me up for a rich baller lifestyle is wild to me.Im curious if any of you have success stories acquiring business and if it worked out for you I wouldn't jump in the deep end right away, but acquiring a business for like 5k making 500 per month profit tickles me125
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