Is buying a business smarter than starting one?

Рет қаралды 23,129

Күн бұрын

Пікірлер: 81

@lifeisshort.9869 4 ай бұрын

What I LOVE about this channel is that I get to see other businesses that are NOT online, god knows I'm sick 'n tired of everyone forcibly pushing online businesses down my throat like it's the only businesses around.

@tommattheopoulos163 4 ай бұрын

Facts

@pfschuyler 4 ай бұрын

This guy is my favorite entrepreneur coach. Excellent.

@leoehgartner 2 күн бұрын

I do not own businesses now but I have. Now, working for a company and I have a thought to start one. However, you answered my questions clearly with this video. Thank you so much for such a great video and experiences you share. Really admirable. I love ice cream and I set up in London small ice cream shop which produces it. I have been in Southend many times early 2000 but never tried Rossi ice cream. I will come and visit it soon! All the best James, brilliant video and thank you once again! Subscribed

@RJC10101 4 ай бұрын

I have no idea how you muster the energy and passion to run all these businesses. Fair play to you

@johngotti8549 4 ай бұрын

Living out his dreams in real time

@jackhalloran4243 4 ай бұрын

That’s what the management teams are for! 😉

@Kendo_nagasaki26 4 ай бұрын

Hi he does not run the business , he has a management team that does all the work.

@3dcadvisuals172 4 ай бұрын

So true about making sure to dilute clients / customers and do not depend on that one big client.. I did this and when my clients business dried up so did mine. Now have may clients paying small amounts but often. Thank you James , class video as always.

@PaulFieldWFP 4 ай бұрын

Thanks for taking the time to make this video James. I recently bought another business which matched/complimented my existing client base and I learnt a great deal, including how to avoid the liabilities and staff issues though choosing to buy the assets only and the importance of having good legal representation. The ROI has been in the hundreds of percent and leveraging the database has been key to making the purchase successful. They had been trading for 10 years although that wasn’t something I’d considered at the time, it just felt right and the risk was very low.

@andyasia 4 ай бұрын

Buying adds cashflow from day one and if you can find one which is languishing, unloved, a tired owner, etc. then you can get deals but owner financing needs to be at a much higher multiple and with a significant amount down otherwise as a seller you're better off putting in more management and keeping the business.

@jordanhughes3137 2 ай бұрын

What do you mean by owner financing needs to be at a much higher multiple mate?

@Thescottishstruggle 4 ай бұрын

Another fantastic video your passion and energy is inspiring

@matijazadravec2739 4 ай бұрын

I learn James's content by explaining it to other people 🙂 I'd suggest to younger people to work somewhere/for someone, get some experience, start their own startup and get a lot of experience from all different views/departments. If it goes bust - a lot of experience learnt. If it skyrockets - great! Buying businesses is great. One should educate themselves what to look for. Going Vertical is a pure gold. I absolutely Love how you James incorporated all the businesses into your "eco system". I tell this to people with pure enthusiasm. Thank you for sharing your story so far and looking forward listening to you.

@markac8 3 ай бұрын

Buying a business every time. I have bought multiple businesses, it is the way to go.

@jordanhughes3137 2 ай бұрын

Interested in hearing more about this dude, if you’re happy to share. Things along the lines of how do you go about buying and running them? Or do you buy and install a director to oversee, or keep the original owner on for 1-2 years as part of the compensation package? Understandably KZbin comments sections aren’t the best for this type of conversation but it’s hard to get real knowledge from real people and you sound like you have a ton of experience!

@Poyraz-music-Serkan Ай бұрын

People don’t share, very rarely will someone want to see someone else succeed without something in it for themselves

@MrGregWoodworth 4 ай бұрын

First time I've found your content, subscribed in 40 seconds.

@JamesSinclairEntrepreneur 4 ай бұрын

Welcome to the party, Mr. Greg Woodworth

@eglausch 4 ай бұрын

James, awesome as usual. you saved my sanity with two quotes ... "kiss many frogs to find a prince" and "it needs 8 years to make a stable business" .... nobody tells that to a young business owner. average media input is about making a million in a year of Air BnB flipping or so.

@Iam_db 4 ай бұрын

Another Brilliant video! Your work continues to inspire me!! Best wishes from Essex.

@MrJeffHead 4 ай бұрын

Buying one without a doubt

@geekyourlikeslulu 3 ай бұрын

would be good if there's video about what I should check when buying a business, what business to pick , etc

@topboyuk 4 ай бұрын

Great Content and with advice From your pa I'm currently looking at A Business.

@hi1iv 4 ай бұрын

I would love to see a video on the use of a 3PL third-party warehouse for logistics for shipping products out of an e-commerce website vs in house logistics ? Why choose one over the others

@hahabobblehead2059 4 ай бұрын

Thank you James

@a.abdullokh 4 ай бұрын

I am not experienced but most entrepreneurs i know suggest to buy with seller financing and sweat equity transition

@LiamFranklinFarang 3 ай бұрын

Sweat equity only works when you have skills that add to a business value. Very idiosyncratic expertise. Market is too efficient for much else. Seller is not likely to hold a significant amount on a sellers note, but may cover the down-payment unless we're talking about seriously small companies

@camn9158 4 ай бұрын

James how do you find a business to buy? How do you go about it? It is as simple as it sounds? Love the vid

@LiamFranklinFarang 3 ай бұрын

Finding a business is extremely hard and takes tons of patience. Getting the funding to buy a business is relatively easy assume the company is extremely profitable. Many sellers will have their business pre-approved by SBA for an SBA 7(a) loan. All you need to do is be somewhat qualified as a buyer (having the downpayment, some education in business or experience in that sort of business) and they will fund the purchase. Banks love funding existing businesses because it's low risk

@houseproblems 2 ай бұрын

Review current businesses for sale… I see roller city become available early Covid time!!! The difference is taking action on the opportunities get intouch with your accountant and talk to them about why your thinking. Assuming they know about take overs or buyouts then get on the phone with the buyers

@c11yan 4 ай бұрын

If you are industry specific then having one or two customers which generate more than 10 percent of revenue perhaps isn’t so relevant. As if they were to move fail close their work would be substituted to others in the industry you serve. Also whether or not your business could carry out without them is important if losing that 10 percent customer still means you can carry on fine then it’s not so important.

@nbvvc-pi6pi 4 ай бұрын

In this economy, building is allways safe

@jerber5892 4 ай бұрын

I wish there was a chance to work with James!! maybe one day haha

@ivanmijatovic1980 3 ай бұрын

I have a question , how do you value a business ? Do you look at EBITDA per year or net profit per year ? and how much times should i value it based on that x3 ?

@JamesSinclairEntrepreneur 3 ай бұрын

Very hard to answer that without knowing the individual scenario. The answer is Botha Ebitda is a good metric for capital intensive businesses to show the businesses free cash flow. Such as a hotel/theme park. If depreciation and interest payments are a million a year then Ebitda is important. If you’re buying a service business like an accountants then net profit is the cookie to track. Multiples vary greatly from 2 times to 15 times.

@TheOneSpurs 4 ай бұрын

Import export costs from turkey/india etc ... but rather than your big budget, is it possible to start with 10-20k? And grow the business up from there?

@Greggieboy76 4 ай бұрын

James, your 'N's' look like 'W's' 😛' - other than that - brilliant advice as always

@JamesSinclairEntrepreneur 4 ай бұрын

I’m sorry. Everyone says that to me LOL!

@gggggggianni 4 ай бұрын

Hey James! How do you decide on price of buying a company? And what are ways to fund it if you don't have the full capital available? i.e.... asking price 100k but have 20k liquid (and maybe need to keep 10 on hand to run said business)

@NeilLyons-y2t 2 ай бұрын

James, if you don’t have a large pot of cash or great idea or track record surely you have to start a business up yourself, until you have proved to any bank or investor that you know what your doing. its at this stage you can think of buying other business. People who watch you that are thinking of starting out will have no idea of the effort and hard work you have put in to get to where you are.

@JamesSinclairEntrepreneur 2 ай бұрын

Absolutely you do. But you don’t need a large pot of cash. Or a great idea or a track record. I’d read the 8 books I recommend. I’d also watch my zero to 1m video on the channel.

@johnmarchant3660 3 ай бұрын

What’s your view James on all these expensive courses offering to show you how to buy business without using your own money,I was tempted by Jonathan jays but is over £10,000 with the vat ?

@abdullahk8691 4 ай бұрын

Good video

@stex83 4 ай бұрын

I'm interested in buying a nursery for children, however I have no experience in this field and I feel like there are too many risks.

@Kendo_nagasaki26 4 ай бұрын

You will lose all your money, if you have no experience, do you have passion? It may still not be enough

@stex83 4 ай бұрын

@@Kendo_nagasaki26 ok, but I intend to keep the existing stuff in

@readmycomment3157 Ай бұрын

If you can't afford to buy a business doing 1m in revenue, what do you start with? Why not start with a smaller business and scale it?

@johnmarchant3660 3 ай бұрын

What courses do you offer ?

@JamesSinclairEntrepreneur 3 ай бұрын

Don’t really do this. I do a few seminars and events. Every year. I think you can get tremendous value from books, podcasts and videos. If you value being in a room and really focused then come to one of my seminars. Ours are no more than £500 for 2 days, we include lunch and food too.

@johnmarchant3660 3 ай бұрын

Thanks James,I was looking at your two day course,hopefully I can attend in the near future