buybiz

buybiz

Where Farcaster convenes to discuss buying / selling small businesses.

Ben - [C/x] pfp

If anyone wants to manage/own the /buybiz channel, please DC me. It deserves a better home than I can provide it right now.

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Ben - [C/x] pfp

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Dan Robert🎩 pfp

Anyone know how much on average it is to start an automatic car wash?

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Signor Schober pfp

I was having a conversation about acquiring a majority stake in a business. The owner basically said: "what the hell do I do with a minority stake – it makes the business worthless to me" Challenge accepted.

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Ben - [C/x] pfp

Who wants to buy a small business together and “web3-ify” it?

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b-rad.eth pfp

Where are people sourcing small business deals?

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Ben - [C/x] pfp

Would you ever consider purchasing a small business? Why / why not?

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kartik 🎩 pfp

Has anyone here bought a small software business and found success (defined by you)? Have been thinking a lot lately about shifting my mindset from venture/invention to making money

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Ben - [C/x] pfp

"Buy then Build" got me hooked on the concept of acquisition entrepreneurship. Its worth checking out. https://www.amazon.com/Buy-Then-Build-Acquisition-Entrepreneurs-ebook/dp/B07JKM2F5Q

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Ben - [C/x] pfp

Some of the most well known founders (I.e., Elon Musk) have taken a “buy then build” strategy. It's one I think we’ll see even more of thanks to LLMs.

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Ben - [C/x] pfp

Biz acquisition (and mgmt) is time consuming, but done well there's lots of upside. I've often wondered if other people exist who, like me, on nights & weekends: - develop investment theses - source & diligence deals There should be a better way to collaborate and draft off each other’s work.

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Ben - [C/x] pfp

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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Charlie Feng pfp

Mistakes I’ve made buying my first biz: - not having an earn out where seller is on the hook for a year (min 6mo I’d say) - margin too low to effectively hire - underestimating working capital needs (very diff from software) - weak diligence in their gtm channels (…prob more gotchas that I fell for)

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Ben - [C/x] pfp

If you've sold a business before, what was your experience like?

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Ben - [C/x] pfp

Code Sanchez, ‘yey’ or ‘ney’? /buybiz

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