buybiz

Businesses I’ve looked at buying (and passed on so far): 
- pest control
- car wash
- gas station
- adult daycare
- laundry mat
- HVAC
- rehab centers
- dry cleaning

Why? - 1. SMB buying got overheated during ZIRP, 2. I didn't want to buy myself a job

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It’s not something I’ve looked into, but I’m always interested in learning more.

Are the notes in a state you could share them?

I want to buy machine shops very badly if you have interest in rehoming manufacturing in the US. I’ve got a mountain of notes on the business case

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Rhode Island

All individual businesses. Haven't fully passed on any of the categories I mentioned.

Where was HVAC? Is it the whole category of these businesses or individual ones that you are passing on?

Have considered it. Haven't gone deep. 

Acquiring self storage, car washes and laundry mats have all become internet memes. 

That usually means the real opportunity has passed.

What about self-storage?

That seems like a great biz

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Has to be sufficiently high margin and at decent level of volume/scale. 

Still a lot of work but a different type of work than operating the day to day.

Have also been looking for partners who want to operate. :)

Item 2 sounds hard to avoid, how are you thinking about that?

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Not buying yourself a job is a great rubric think with.

I feel there's also analogs in software engineering, while you don't wanna gold plate, there are clearly so many time you're "buying yourself a job" down stream, from the "easy" choice, not the much harder, but principled "simplicity" choice.

Car washes have surprisingly strong margins — a favorite for PE rollups!