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I am a contractor by trade who is in the process of transitioning from this type of business model for more of a fastlane business model. But today, I had a quick impromptu meeting with a gentleman who I have teamed up with to use my license to pull permits. Anyway, about 5 months ago when I first met this man, he got me up to speed on his business and what he sells and how it all works. During this 5 month tenure, he has offered me several chances to buy in with him and become a partner. In the beginning, I wasn't much for it since I was still trying to keep my company moving forward and was already vested in other investments and didn't want to take on the extra work. But now, after seeing how his product sales and knowing his profit margin, I am beginning to reconsider. Since our partnership, I have only pulled 3 permits for him. That is not many permits in 5 months but the kicker is that these 3 jobs that I have pulled permits for will gross nearly $300,000.00. As of now, he has 3 more projects in the works and these 3 could top $750,000.00
For a guy who really just started this business no more than 6 months ago will have turned this into a million dollar business in under a year with a growth potential of 2 times each year. His goal for 2014 was to break 1 million in sales which he will. 2015 he wants to break 2 million in sales and continue to at least double it until he retires in 8 years. So by the year 2022, he wants to be doing over 50 million in sales and I think it is doable.
This system he offers, no one else offers it within a 250 mile radius. He is the sole rep/contractor for some of the richest areas in the state. The overhead is minimal on this type of business. The installers of this product are all sub contractors and he doesn't need to have his own crews, trucks, tools, ect. He does however have the option to have his own crews and even grow his revenue this way.
So where do I come in? Today, I met with him to sign the papers for another project he just sold. We began talking about jobs and what not. I confided in him that things aren't going to smooth for me at the present time and told him I am thinking about liquidating everything and doing something else but keeping my license so to not put him in a bind. He offers it to me again. He wants me to buy in and become partners with him. Other people have offered to buy in with him for $50k and he has turned it down because we have built a trust with one another. So, he offers me a buy in for $25k. Basically a bottom floor opportunity with a really good chance for exponential growth. I would like to do this but right now I'm cash poor. I do have some assets that I can liquidate to get me to that number but this is a large investment for me right now and currently I am vested in other operations that aren't yielding great results and dropping 25k on another investment opportunity could put me in a bad position financially.
Any advice?
For a guy who really just started this business no more than 6 months ago will have turned this into a million dollar business in under a year with a growth potential of 2 times each year. His goal for 2014 was to break 1 million in sales which he will. 2015 he wants to break 2 million in sales and continue to at least double it until he retires in 8 years. So by the year 2022, he wants to be doing over 50 million in sales and I think it is doable.
This system he offers, no one else offers it within a 250 mile radius. He is the sole rep/contractor for some of the richest areas in the state. The overhead is minimal on this type of business. The installers of this product are all sub contractors and he doesn't need to have his own crews, trucks, tools, ect. He does however have the option to have his own crews and even grow his revenue this way.
So where do I come in? Today, I met with him to sign the papers for another project he just sold. We began talking about jobs and what not. I confided in him that things aren't going to smooth for me at the present time and told him I am thinking about liquidating everything and doing something else but keeping my license so to not put him in a bind. He offers it to me again. He wants me to buy in and become partners with him. Other people have offered to buy in with him for $50k and he has turned it down because we have built a trust with one another. So, he offers me a buy in for $25k. Basically a bottom floor opportunity with a really good chance for exponential growth. I would like to do this but right now I'm cash poor. I do have some assets that I can liquidate to get me to that number but this is a large investment for me right now and currently I am vested in other operations that aren't yielding great results and dropping 25k on another investment opportunity could put me in a bad position financially.
Any advice?
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