How to Buy a PROFITABLE Business...With Little or No Money Down w/Ryan Snow

As most entrepreneurs will attest, profitability doesn’t happen overnight. In order to make money, we have to put a ton of money, time, and energy into our projects, but what if that wasn’t the case?

 

Buying businesses means we don’t have to go through the process of building a company from the ground up. However, many of us haven’t even considered purchasing established businesses because we simply don’t know how to do it.

 

How can we get started with acquisitions, and how can we be sure we’re buying the right companies? How can we afford to buy a business in the first place? 

 

In this clip, co-founder of Unconventional Acquisitions, Ryan Snow shares everything we need to know before buying a business. 

 

Look at the biggest expense your business has and ask yourself ‘what if I owned the company I’m outsourcing to?’ -Ryan Snow

 

Things You’ll Learn in This Episode

Why entrepreneurs should consider buying businesses:

As entrepreneurs, we already know we want to have our own businesses, but there’s no need to start from scratch. By buying already-profitable businesses, we can speed up the process and fast track our success. 

How buying businesses helps small companies expand:

Expanding into new markets is a great way to grow, but doing so takes a lot of time and energy away from the businesses we already have. Instead of starting over in a new territory, look into what’s already there. By taking over existing small businesses, we won’t have to deal with establishing something new. 

How real estate investors can capitalize on acquisitions:

There’s a lot of crossover between buying businesses and real estate investing. The great thing is, with it being so easy to leverage money for small businesses, buying a business doesn’t need to cost much more than a real estate piece- but the cash on cash return will be much higher.

Who should avoid buying businesses:

Buying businesses is a great way to build passive streams of income, but it still requires some of our time. For that reason, anyone already maxed out with their current businesses should think twice before taking the leap. 

How to tell if we’re making the right purchase:

Buying a business is a big commitment, so pay attention to any red flags that come up. These could be anything from lawsuits to regulations with the potential to put operations on hold. If anything feels ‘off’, we should always go with our gut.

 

Guest Bio:

Ryan Snow is a sales leader, business coach, teacher at heart, and the #1 Best-Selling co-author of The Miracle Morning for Salespeople. In addition to being a trainer, mentor, and speaker at Explosive Sales Growth, Ryan is also the co-founder of Unconventional Acquisitions. Geared towards assisting people interested in purchasing small businesses, Unconventional Acquisitions shares proven methods to find, negotiate, structure, and fund purchases with little or no cash of their own. 

 

To find out more, go to:
http://buyasmallbiz.com/ 

https://www.explosivesalesgrowth.com/about-ryan/

https://www.linkedin.com/in/ryansnowteam

 

And to get 20% off the course mentioned in this episode, use the Discount Code ‘Uncensored 20 Off’ at http://buyasmallbiz.com/ 

 

To get a copy of Matt’s book, head to:

Getmicrofamous.com

 

To contact Greg, email him at greg@gregmcdaniel.com

Or text him on 925 915 1978

 

And to connect with Gene, go to:

Genevolpe.com

https://www.facebook.com/genevolpemedia/ 

https://www.linkedin.com/in/genevolpe

https://www.instagram.com/thegenevolpe/ 

 

Books mentioned in this episode:

 

Profit First by Michael Michalowicz https://www.amazon.com/Profit-First-Transform-Cash-Eating-Money-Making-ebook/dp/B01HCGYTH4 

 

The Millionaire Real Estate Agent by Gary Keller, Dave Jenks and Jay Papasan https://www.amazon.com/Millionaire-Real-Estate-Agent-About/dp/0071444041 

 

The 80/20 Principle by Richard Koch https://www.amazon.com/80-20-Principle-Secret-Achieving/dp/0385491743 

 

The Star Principle by Richard Koch https://www.amazon.com/Star-Principle-Richard-Koch/dp/0749929626 

 

80/20 Sales and Marketing by Perry Marshall https://www.amazon.com/80-20-Sales-Marketing-Definitive/dp/1599185059