Ive got a couple small service businesses in the contracting/construction arena I run with a handful of employees (8 total). One is seasonal so has limited scalability and is ridiculously competitive. The other is scalable but requires large amounts of capital to really become a known brand in my area. Each one of these 2 businesses does about $250K to $300K each. I have the opportunity to buy another service business that comes with employees and it grosses $400K. The owner is in bad health and I think I can grab this for around $30k.
My question is should I keep expanding and buy this business or focus more of my efforts on the 2 businesses I already have. I will say that I run pretty much all of the duties in my 2 businesses as far as sales, estimating, employee management, customer service. Buying this 3rd business might allow me to be able to afford an actual secretary to answer phones and do paperwork.
Thoughts?
My question is should I keep expanding and buy this business or focus more of my efforts on the 2 businesses I already have. I will say that I run pretty much all of the duties in my 2 businesses as far as sales, estimating, employee management, customer service. Buying this 3rd business might allow me to be able to afford an actual secretary to answer phones and do paperwork.
Thoughts?
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
