Has anyone of you bought a "boring" business? What was your experience?

[Panos Daras]

Hi there!

I recently listened to a great podcast that featured an interview with Codie, where they discussed among others buying "boring" businesses. The podcast is fantastic and I gained a lot of knowledge in just 90 minutes.

It covered everything from mindset, execution, general business information, and Codie's intriguing story. Definitely worth it to watch it till the end.

Now, I have a question for you. Have you ever purchased a "boring" business? If so, could you share your process of finding and buying it? Do you think it was a worthwhile investment?

The Podcast can be found here:

View: https://www.youtube.com/watch?v=XkxZCJ2pYqs&ab_channel=TheDiaryOfACEO

 

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[brosky]

This lady seems to be everywhere if you're looking to buy an online business.
I've been looking more and more into this, my problem is that I have no experience with SEO and a lot of the cheapest businesses you can buy are content blogs.
I think if you have $50k+ to invest and you buy something legit (look at Empire Flippers), then it's definitely a worthwhile investment. You can get 25-40% on your money.

 

[jclean]

I bought several window cleaning routes. +-(7)
To plug in my existing business.

Most of them (5) with seller finance.
The other 2 with a bankloan.

I als bought a vending machine business.
Also with seller finance.
In fact i agreed to buy it and in the first week i made 5k selling old equipment.

It can be done.

Beeing trustworthy and learn how to communicate with sellers is the most important aspect. The most people dont want to sell there baby to somebody that doesnt know sh*t about business. Unless you are paying a lot of money upfront.

 

[Panos Daras]

I bought several window cleaning routes. +-(7)
To plug in my existing business.

Most of them (5) with seller finance.
The other 2 with a bankloan.

I als bought a vending machine business.
Also with seller finance.
In fact i agreed to buy it and in the first week i made 5k selling old equipment.

It can be done.

Beeing trustworthy and learn how to communicate with sellers is the most important aspect. The most people dont want to sell there baby to somebody that doesnt know sh*t about business. Unless you are paying a lot of money upfront.

So you started as a businessman and then bought your first business? Or you had a job and then bought it? Thanks in advance for the info!

 

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[jclean]

So you started as a businessman and then bought your first business? Or you had a job and then bought it? Thanks in advance for the info!

I worked full time as an employee. delivering drinks to cafes, restaurants... hard manual labour. in 2013 I started my window cleaning company part time. handed out flyers, had a (bad) website built. I knew nothing about business. in 2016 i started reading books, fastlane millionaire, e-myth...

i then hired my brother as my first employee as my right hand man. I told him my vision and we've been going for it ever since. now with 10 full time people, father of two and happily with my wife.

how i handled it is when i saw a window cleaner at work i always stopped to have a chat with him. and said that I am always looking for customers to take over. many people do not keep up this work for various reasons. and in this way I have already been able to take over a customer base 7 times. sometimes even very cheap.

it comes down to building a relationship with people and always being very correct with employees, suppliers and even with the competition

 

[Panos Daras]

I worked full time as an employee. delivering drinks to cafes, restaurants... hard manual labour. in 2013 I started my window cleaning company part time. handed out flyers, had a (bad) website built. I knew nothing about business. in 2016 i started reading books, fastlane millionaire, e-myth...

i then hired my brother as my first employee as my right hand man. I told him my vision and we've been going for it ever since. now with 10 full time people, father of two and happily with my wife.

how i handled it is when i saw a window cleaner at work i always stopped to have a chat with him. and said that I am always looking for customers to take over. many people do not keep up this work for various reasons. and in this way I have already been able to take over a customer base 7 times. sometimes even very cheap.

it comes down to building a relationship with people and always being very correct with employees, suppliers and even with the competition

Suoer inspiring! Goed gedaan!