So there is a retail business for sale for 400k near where i live, the owner said he had 110k in cash flow last year and he doesn't put any hours in the store, just over sees that everything is going smooth so it is mostly turn key. He is selling it because he is retiring. The store normally had 5-7 employees depending on the season and did over 1mil in sales.
It's not exactly a fastlane business but my fastlane journey has been through rental properties so far and my most recent purchase was a duplex for 390k that cash flows 6k/yr. So in my eyes this is like a killer piece of real estate!
I'm only 24 and haven't owned a business yet. So what i'm looking for advice on is from people who have owned/managed a small business similar to this. How hard will it be to own it and learn everything to run it? Is it going to be a lot more time consuming then i think? Will it be stressful? If you had this opportunity available would you scoop it up? If no, why?
It's not exactly a fastlane business but my fastlane journey has been through rental properties so far and my most recent purchase was a duplex for 390k that cash flows 6k/yr. So in my eyes this is like a killer piece of real estate!
I'm only 24 and haven't owned a business yet. So what i'm looking for advice on is from people who have owned/managed a small business similar to this. How hard will it be to own it and learn everything to run it? Is it going to be a lot more time consuming then i think? Will it be stressful? If you had this opportunity available would you scoop it up? If no, why?
Dislike ads? Remove them and support the forum:
Subscribe to Fastlane Insiders.