Let's Buy a Business

Online businesses don't have physical assets like brick and mortar, and inventory is typically in a warehouse not owned by the company. Banks are more willing to lend on cash flow from online businesses but you may need to get creative.   Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie   http://letsbuyabusiness.com/    

2 Deals that are seller-financed + 1 more that basically is seller-financed out of bankruptcy. Seller financed deals are awesome and typically don't require a personal guarantee. It's a great tool to keep current owners interested and honest in the deal. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie   http://letsbuyabusiness.com/    

Everyone Ryan knows personally who is wealthy, has sold their business to get there. They built a cool business but 50-99% of the total value they got out of their business, was when they sold. There are other really great businesses that make money while running them, but you've probably never heard of them....and you never will. Episode Resources Connect with Ryan Condie http://linkedin.com/in/r...

Thanks for the 3-star review! Someone cared enough to tell Ryan how to improve on his mediocre podcast skills. Let him know how he can improve to get to 5 stars 89% of the time, 100% every time. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie   http://letsbuyabusiness.com/  

Here are 3 deals Ryan has looked at: an interesting retirement home, a sweet executed deal in the real estate services space, and a cool e-commerce brand with horrible financials. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie   http://letsbuyabusiness.com/    

Searching during COVID_19, what will happen with small businesses, and what questions to ask yourself to move forward during this weird time. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie   http://letsbuyabusiness.com/  

Ryan looked at a small business to fund his search forever. Cool business but he got conflicting advice based on the advice giver's own financial situation. This business did not fit into his target of companies and he talks about how he can make it fit his target.   Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie   http://letsbuyabusiness.com/  

COVID_19 is destroying health and economies across the globe. The shutdown has been devastating to small businesses. Ryan goes through a few predictions and how to take advantage of a buyers market. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie   http://letsbuyabusiness.com/  

Ryan jumped into 3 businesses: B2B SaaS, a National Lead Gen Company, and a subscription eCommerce company. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie   http://letsbuyabusiness.com/  

Today is the first day in a month that has been really frustrating. Ryan does not feel like he is making progress. When you search for a company, you don't create anything, sell anything or feel like you did anything productive.   Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie   http://letsbuyabusiness.com/    

Ryan sold a business 2 months ago and shares a few tips for buyers on what they should look for when buying a business.   Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie   http://letsbuyabusiness.com/    

Buying and selling businesses is an emotional dance. Logic does not prevail most times. Ryan made 2 offers on 2 different businesses yesterday. Both could be awesome and are vastly different. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie   http://letsbuyabusiness.com/    

We're not flipping businesses like you can with houses in 90 days. Businesses are assets. They grow based on how you treat them. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie   http://letsbuyabusiness.com/    

What Ryan is learning and lacking so far: his financial statement literacy and maybe contacting more investors. Is this company worth buying or can he start a similar business and get to the same place with a fraction of the costs?   Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie   http://letsbuyabusiness.com/  

"Strong partnerships come from strong contracts." Stephen Walter is a wealth of knowledge and an attorney that manages a fund for angel investors. Stephen personally has bought and grown his own business which he discusses in this episode. He jumps into the legal side of buying a company and ways to think about contract structure. Episode Resources Connect with Ryan Condie http://linkedin.com/in/r...

Ryan dives into 3 more deals that he has looked into. These 3 deals are pretty awesome and ones that fit his wheelhouse for skill sets. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie   http://letsbuyabusiness.com/

There are 2 ways to fund your search, as in pay your mortgage and Costco runs. Ryan dives into what a search fund is and how to self fund your search so you have a huge upside. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/

Ryan covers the differences in building your own deal flow vs working through broker deal flow. Both ways are super valuable and you need to approach the business buying from both avenues.   Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/

Ryan brings Jeremy Neven on how best to network and use local brokers. Jeremy is a mountain of information on how to work with brokers, how first time buyers can build their network, and how to approach a deal. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie   http://letsbuyabusiness.com/   Connect with Jeremy Neven:  https://www.linkedin.com/in/jeremynevens/ https://w...

Ryan talks with 3 owners who bought a business, and wish to remain anonymous. He discusses the businesses that were acquired, how they structured the deals, and how much they put down to acquire them. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/

Income and Wealth Multipliers work for you or against. If you own equity, you can get a multiplier on your efforts. If you are an employee, you make a fraction or a small percentage of your efforts. It's not bad, it's just how the system is created. Be aware of how income and wealth multipliers work in your own life. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie   ht...

Ryan Condie breaks down the area to find the right marketplace and broker to find businesses for sale. He also provides a few ideas on how to create your own deal flow outside of brokers. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie   http://letsbuyabusiness.com/

Ryan goes deeper into the criteria he picks for finding a business. He goes through a series of questions, his background and strengths and his ideal lifestyle for his criteria. Internet-based company with 2+ years (ideally 5 years) of history from a US citizen that makes $250k+ in EBITDA. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/  

Ryan Condie walks through his mindset on why buying is better than starting. We all know 96% of new businesses fail within 5 years so how do we own equity, bet on ourselves and call the shots? Entrepreneurship through Acquisition. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/

This is the start of Let's Buy a Business Podcast. I'll be sharing my journey of searching and evaluating a business to buy. They'll be tips, tools, tricks, conversations with investors and bankers and everything else in between. Subscribe to watch and learn from my journey so you can go down the same path.