Let’s Buy a Business

Ryan sold a business 2 months ago and shares a few tips for buyers on what they should look for when buying a business.   Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie  http://letsbuyabusiness.com/   

Buying and selling businesses is an emotional dance. Logic does not prevail most times. Ryan made 2 offers on 2 different businesses yesterday. Both could be awesome and are vastly different. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie  http://letsbuyabusiness.com/   

We're not flipping businesses like you can with houses in 90 days. Businesses are assets. They grow based on how you treat them. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie  http://letsbuyabusiness.com/   

What Ryan is learning and lacking so far: his financial statement literacy and maybe contacting more investors. Is this company worth buying or can he start a similar business and get to the same place with a fraction of the costs?   Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie  http://letsbuyabusiness.com/ 

“Strong partnerships come from strong contracts.” Stephen Walter is a wealth of knowledge and an attorney that manages a fund for angel investors. Stephen personally has bought and grown his own business which he discusses in this episode. He jumps into the legal side of buying a company and ways to think about contract structure. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie  http://letsbuyabusiness.com/

Ryan dives into 3 more deals that he has looked into. These 3 deals are pretty awesome and ones that fit his wheelhouse for skill sets. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie  http://letsbuyabusiness.com/

There are 2 ways to fund your search, as in pay your mortgage and Costco runs. Ryan dives into what a search fund is and how to self fund your search so you have a huge upside. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/

Ryan covers the differences in building your own deal flow vs working through broker deal flow. Both ways are super valuable and you need to approach the business buying from both avenues.   Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/

Ryan brings Jeremy Neven on how best to network and use local brokers. Jeremy is a mountain of information on how to work with brokers, how first time buyers can build their network, and how to approach a deal. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie  http://letsbuyabusiness.com/  Connect with Jeremy Neven:  https://www.linkedin.com/in/jeremynevens/ https://www.alpinebusinessbrokers.com/  jnevens@abbutah.com 

Ryan talks with 3 owners who bought a business, and wish to remain anonymous. He discusses the businesses that were acquired, how they structured the deals, and how much they put down to acquire them. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/