If you enjoyed this video and would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at bit.ly/3UhJrlF Thank you!
I really enjoy and am inspired by your content Jonathan. Thank you Do you have any examples of people who are not business owners but employees with business acumen that took the plunge into business by buying a business ? Most of your guests already own their own business
Hi Jonathan. I've read the free ebook you had a site and it was great!!! Very informative. I'm currently a university student in South Africa. Do you think purchasing your course will work for me? Do you have any advice for me getting started in buying business?
@@theDealmakers A fake guru would never say this, they would push everyone to buy their course… very few people are as transparent as you are Jonathan! Makes me want to learn more from your knowledge.
Great information as always Jonathan, thank you. You often talk about having the right team around you, would this make the very first step in buying a business to find a good accountant, lawyer, financial advisors etc? I feel I am learning a lot from your videos, but I do not feel like I could ever do this all on my own. Thanks again, and please do keep up the great content.
@@theDealmakers sorry guys, going to jump in here, paying the team then, does that payment for the services come from the business that your buying?.... does that make sense?
Would your business Buying tool kit and zoom be applicable to someone in California if you are in uk? will the Laws, Loans, Process, names of organizations be different?
Yes, we have clients all around the world. You would always use a lawyer and accountant/CPA in your territory. What we teach are the global rules of dealmaking
What about buying a percentage of the business? Say you're just bringing in capital and in return you just want say 15% of the profits. Leaving the owners to continually run the business as they have been? By the way i live in Plainfield, IN (USA)
@@theDealmakers owning the whole company will include the shares of the company also? Your video suggests that deal makers should focus on the assets and not the liabilities?
Hi Jonathan, I have a quick question if you could be so kind as to help me out please? I have a meeting scheduled with a lady who wishes to sell her business, however, how do I broach the subject of deferred payments with her? I'm aware of creating rapport etc and I have a bunch of questions to ask her about the business, but how do I steer the conversation in the deferred payment direction? Any help would be much appreciated 😃 thank you❤️
I am currently a 1st year architecte student and I am wondering roughly what's the amount of money required to buy a business ? I won't be able to buy one as it is now but I wish to invest in the futur once I am settled. A business which focalises in technology.
Businesses vary greatly in price. An absolute dirt cheap one, you'll want about 200Gs, and you can go all the way up to a hundred mills and beyond. There's a business for every budget, but when they start getting too cheap, they start losing their wealth generating capabilities. Unless you want to build them up from the ground, in which case I would ask, why are you even buying? The point of buying is to avoid the initial years of difficulty. You're better off getting some investors on board and buying one that has decent financials.
Great video, makes total sense. Everyone think that theyre suppose to just hand it over to you😂 guess what ? You gotta work a deal. I know right sucks you gotta lift a finger
What if someone inflates their income on their taxes statements. Maybe they inject their own money or money from other businesses to make it seem like the busniess is much more profitable than it really is?
The purpose of due diligence is to uncover things like this and the Sale and Purchase Agreement has warranties that give you some protection around activities like this
there is no (pdf) ebook. I'm from South Asia, you may not have physical book shipping facility over here, do you? By the way, thanks for your content and reply on comment.
So find someone that has woken up and wants to sell the business but don’t buy that business look harder look for multiple people that want to wake up and sell their business that day. Seems very unlikely
This is like 1% of the information you need to actually get a deal done. I'd recommend spending several hundred hours just learning how to buy a business before you even start, assuming you already have the skills to run one. If not, then spend 8 or 10 thousand hours learning how to run one, then start planning to buy one.
Like I found a business already I want an most likely can get but this makes it feels like just seems straightforward to get the business if they already dropped the price on it down so much already
Create a fair offer and don't budge by a penny. Use the right accountants and lawyers, other people can do 80% of the work, why not leverage them. Use a checklist and have the seller finish it with solicitor Buy and build strategy - buy small businesses and merge to create larger, more valuable business worthy of selling to a plc. network is good for buying one business, not serveral. One meeting over phone, 30 mins. 2nd meeting seller comes to you, 90 mins. 3rd meeting you go to seller premises. sign head of terms that can be extended, 90 days, they can't talk to any other buyers. always delegate due diligence to find flaws. You will most likely have a virtual completion where your solicitor calls you.
Maybe I’m stupid or confused. You say it’s a mistake or an error to use a business broker but then you proceed to describe all the steps one would be required to take in order to buy a business and to the layman like me it sounds like I’m doing the work of that broker. If I’m a first time buyer of a business, a total beginner which is who this video was tailored for it seems, then why should I not trust the people who do this for a living? Isn’t this similar to me saying I’d love to have a new house but I’m just going to go ask a bunch of home builders how to do the work and then swing by Home Depot for some wood and nails? Not trying to be rude but it does seem as if you are presenting a video for beginners from the perspective of someone who has done this a bunch of times in the past so you gloss over the basics and fundamentals of actually doing this work as a true novice. Then you comment on someone else’s comment that anyone who views RU-vid videos and thinks they can learn how to buy a business is in for a surprise. What is the point of this video in that case?
@@theDealmakersso would a beginner just go get pre-approved for an SBA and then just call the business and ask to speak to the owner? Seems like a potential hurdle if someone only has previous experience of home buying as a purchase of something worth a considerable amount of financing. I’m actually in the beginning steps of buying a business now. My son and I have our eye on a laundromat we know is being sold but have no practical experience buying a business and performing the proper due diligence to establish the worth or see potential risks. Wouldn’t a business broker be akin to a real estate agent/broker? If that’s true then wouldn’t that automatically require them to act in good faith for both seller and buyer or risk alienating either side as potential future clients? Again, not trying to be contrarian, just honestly seeking understanding of why I should assume brokers are going to take advantage of me as a customer.