Action Academy | Replace The Job You Hate With A Life You Love How An Action Academy Member Got PAID $20k To Buy A $1.3M Business That Replaced His $250K Job (within 7 months)
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Dec 17, 2024 In this enlightening discussion, Tyler Griffith, a savvy entrepreneur and Action Academy member, shares his remarkable journey from corporate America, where he earned $250K, to acquiring a $1.3 million print graphic shop within just seven months. He delves into the nuances of navigating business acquisitions, including the challenges of SBA financing and the emotional rollercoaster of deal setbacks. Tyler also emphasizes the critical role of community support and strategic planning for balancing work and personal life in his new entrepreneurial endeavor.
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Tyler's Success Story
- Tyler, an Action Academy member, replaced his $250,000 income in 7 months by acquiring a business.
- He got paid $20,000 to buy the $1.3 million business, including real estate.
Choosing Your Path
- Consider small business acquisition for faster income replacement compared to franchises or startups.
- Evaluate your skills and risk tolerance to choose between small businesses, real estate, or commercial deals.
The Print Graphic Shop Deal
- Tyler bought a print graphic shop doing $1.3-$1.4 million annually with attached real estate.
- The deal involved SBA financing for the business and seller financing for the real estate.