48. A “Wave” of Small Businesses Is Changing Hands (They Cost Less Than You Think)

People think owning or buying a business is just for the wealthy. For the visionaries with the revolutionary ideas. For the entrepreneurs whose startups beat the odds.

But they’re wrong.

Over 17 million businesses will change hands in the next several years. As the baby boomer generation ages out, some of these businesses will close their doors. Some will stay within the family. But most of them? They’ll be sold. To whom?

Maybe you.

You don’t need millions of dollars to buy them. In fact, many of these small businesses cost less than the median price of a single-family home. Serial business-buyer Tim Delaney found this out when he stumbled on a local wine and liquor store 13 years ago. He bought it with just $35,000 down, and that investment gave him a reliable cash flow stream, provided for his family, and made the next venture that much easier.

And buying an established business isn’t nearly as risky as you probably think. Tim shares the green and red flags to look for when analyzing a small business, the different levers you can pull to fund one, and the value-add playbook that can turn any mom-and-pop operation into a staple of your community.

Insights from today’s episode:

• Why 17 million businesses are changing hands right now (and how to buy one)
• How Tim bought his first small business with just $35,000
• Why buying an existing business isn’t nearly as risky as you think
• Three ways to fund a business acquisition with low money down
• The biggest red (and green) flags to watch for when analyzing a business

Connect with Tim on Instagram: https://www.instagram.com/timtdelaney/

Are You Ready to Buy a Business? (Take the Quiz): https://www.powerofbiz.com/ajo

The Business Buying for Financial Independence Podcast: https://podcasts.apple.com/us/podcast/business-buying-for-financial-independence/id1823816760