Let’s Buy a Business

Pretty stellar businesses available right now. Here is how Ryan approaches looking at and evaluating these businesses.   Episode Resources Connect with Ryan Condie  http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/

How do you reach out directly to an owner to buy their company? There is an art here, but keep in mind, this is hard to do. I've seen a lot of people do this but you can lose a lot of time and not get anywhere. HAVING said that, I still do it. Here are some tips/tricks.   Episode Resources Connect with Ryan Condie  http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/

Wow! This episode is so good! From Raleigh, leaving his high-paying corporate lawyer career, to grinding it out building Escape Rooms and Trampoline Parks. Raleigh talks about his exit and how to go about selling his company.   Episode Resources Connect with Ryan Condie  http://linkedin.com/in/ryancondie  http://letsbuyabusiness.com/  Connect with Raleigh Williams https://www.linkedin.com/in/raleigh-williams-32477042/ https://podcasts.apple.com/us/podcast/raleigh-g-audio-experience/id1463899267  raleighwilliams7@gmail.com 

Ryan spoke to a few individuals who want to buy a business in 2 to 10 years. That's great, but the issue was money. You can buy a business with investors. Here are a few thoughts on raising money from someone who has never raised money. Full Disclosure.   Episode Resources Connect with Ryan Condie  http://linkedin.com/in/ryancondie  http://letsbuyabusiness.com/ 

Quick update on my deal and the due diligence process AND putting together a partnership agreement.   Episode Resources Connect with Ryan Condie  http://linkedin.com/in/ryancondie  http://letsbuyabusiness.com/ 

Buying a company while you have a job and kids and Costco bills is hard. So is life. So is going into a job you hate. You need to figure out where you can cut expenses and activities that are a waste of time. Song was the perfect example of how to stay disciplined in his search.   Episode Resources Connect with Ryan Condie  http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ 

Song has an incredible story of how he did his search with a full-time job in the LA region. Song had to focus on saying no to nearly everything that didn't fit his criteria while working at 6am and again from 8pm to 1am to find a company. He bought a stellar business in March in the middle of the COVID pandemic. Song talks about what attracted him to the business, how to make quick decisions, and why you need multiple lenders.   Episode Resources Connect with Ryan Condie  http://linkedin.com/in/ryancondie  http://letsbuyabusiness.com/  Connect with Song Pettus Total Accounting and Bookkeeping Solutions www.taabs.la  song@taabs.la

Looking for a business can be miserable. You're alone, you don't produce anything, ship anything, sell anything, talk to happy customers and you don't make any money. Keep reminding yourself of your "WHY". My, why is financial freedom, buying, and building an awesome business and having fun while doing it for my family.   Episode Resources Connect with Ryan Condie  http://linkedin.com/in/ryancondie  http://letsbuyabusiness.com/ 

Small Deals are riskier, require all cash to buy, and take up the same amount of time as Big Deals. You can cut your teeth on small deals but they can be super hard to do.   Episode Resources Connect with Ryan Condie  http://linkedin.com/in/ryancondie  http://letsbuyabusiness.com/ 

Ryan is in the middle of due diligence but he tells a story of one $1M company buying another $1M company and nearly going under when it doesn't go through. You need to establish what the bottlenecks and KPI's are for the deal. If those 4-5 things don't work out, then the deal is dead. DO this BEFORE you incur massive costs from attorneys and CPAs.   Episode Resources Connect with Ryan Condie  http://linkedin.com/in/ryancondie  http://letsbuyabusiness.com/