Is buying a business smarter than starting one?

Рет қаралды 12,438

Күн бұрын

What's better, buying a business or starting one from scratch? I've done both over the last 20 years and in this video I wanted to dive into the pros and cons of both so you can decide what might be better for you.
Try Entrepreneurs University 14 Day FREE Trial Here ►
jamessinclair....
Find out your Entreprenurial DNA, take this quiz ► jamessinclair....
Get your tickets to our next event here ►
www.jamessincl...
Apply to be on my podcast here ►
jamessinclair....
My Socials:
🎙 The Podcast - shorturl.at/jyzP1
🌍 Website - jamessinclair.net
🐦 Twitter - / jamessinclair85
📸 Instagram - / jamessinclairentrepreneur
📱 TikTok - / james.sinclair
👨‍💻 Linkedin - / jamessinclairpartyman
👍 Facebook - / jamessinclairentrepreneur
Who am I?
My name is James Sinclair and I'm the founder and CEO of The Partyman Group of Companies. I started building my business when I was just 16 as a family entertainer after that I built up an entertainment agency, then moved into building a leisure and day nursery businesses. Today we operate a £30 million business which includes leisure, childcare, outdoor attractions, commercial property, arts and crafts manufacturing as well as one of the UK’s oldest Ice cream companies; The Rossi Ice Cream Company.
#business #businessowner #buyingbusinesses

Пікірлер: 62

@lifeisshort.9869 28 күн 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 28 күн бұрын

Facts

@pfschuyler 28 күн бұрын

This guy is my favorite entrepreneur coach. Excellent.

@RJC10101 28 күн бұрын

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

@johngotti8549 28 күн бұрын

Living out his dreams in real time

@jackhalloran4243 28 күн бұрын

That’s what the management teams are for! 😉

@Kendo_nagasaki26 27 күн бұрын

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

@andyasia 28 күн 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.

@3dcadvisuals172 27 күн 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.

@markac8 2 күн бұрын

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

@eglausch 28 күн 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.

@Thescottishstruggle 28 күн бұрын

Another fantastic video your passion and energy is inspiring

@MrJeffHead 28 күн бұрын

Buying one without a doubt

@PaulFieldWFP 28 күн 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.

@matijazadravec2739 19 күн 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.

@hi1iv 28 күн 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

@geekyourlikeslulu 10 күн бұрын

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

@topboyuk 28 күн бұрын

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

@a.abdullokh 28 күн бұрын

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

@Iam_db 22 күн бұрын

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

@MrGregWoodworth 27 күн бұрын

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

@JamesSinclairEntrepreneur 27 күн бұрын

Welcome to the party, Mr. Greg Woodworth

@Greggieboy76 28 күн бұрын

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

@JamesSinclairEntrepreneur 28 күн бұрын

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

@camn9158 28 күн 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

@jerber5892 28 күн бұрын

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

@gggggggianni 28 күн 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)

@nbvvc-pi6pi 28 күн бұрын

In this economy, building is allways safe

@hahabobblehead2059 28 күн бұрын

Thank you James

@TheOneSpurs 28 күн 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?

@c11yan 28 күн 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.

@ivanmijatovic1980 10 күн 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 10 күн 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.