MrMojoRisin
PARKED
- Joined
- Jul 21, 2019
- Messages
- 4
Rep Bank
$40
$40
I'm a newbie here, pretty excited to stumble across this forum. I found it by searching through existing business for sale both physical and internet. I'll be diving more into the principles and picking up the books, etc.
My situation is I've worked a corporate job for 25 years, had a nice income, saved pretty well, invested in the stock markets which has helped to save most of my needed retirement. Now I'm about 10 years away from "retiring" from a corporate lifestyle, and roll into the next phase of income - owning my own business. I prefer Internet based companies if possible so I can work anytime / anywhere. Plus as I age I only need to be able to sit in front of a computer screen to make $$$. This has been a lifelong dream of mine to run my own business.
Which leads me to evaluating existing Internet business for sale. I've done a few searches on this forum for information but didn't find what I was looking for.
1. What are the best sites used to evaluate an Internet business. I've been looking at flippa for Internet, bizbuysell for brick mortar
2. Good books / resources / mentor tools to learn how to evaluate
3. Records: how to validate the actual income? Can I ask for a tax statement or is there a specific form?
4. Any good learning
Example: existing business on flippa selling xxx widgets (physical goods). Annual revenue stated $350k, expenses $260k, net profit $90k annual. For sale for $80k.
Why would somebody sell a business making $90k a year for $80k? I would imagine a multiplier of 2 or 3 x minimum for a profitable "turn key" business right? There are 2 years of statements (in xls) that support the PnL. What am I missing or is this typical? Obviously I need to put the time and effort into operating and marketing the site (no free lunch). However I'm happy to work a part time business to make $90k profit at this point from a computer screen.
I've worked in the tech Industry my entire life, so while I'm not a developer I do understand tech pretty well. I also pick up new concepts and business models too. I used the bogleheads philosophy on expenses and investing, which put me into a fortunate financial position today (as well as working my tail off
)
I'd like to start smaller to acquire a business (under 100k). Then learn before I go to take on anything bigger.
Thanks all for the info.
My situation is I've worked a corporate job for 25 years, had a nice income, saved pretty well, invested in the stock markets which has helped to save most of my needed retirement. Now I'm about 10 years away from "retiring" from a corporate lifestyle, and roll into the next phase of income - owning my own business. I prefer Internet based companies if possible so I can work anytime / anywhere. Plus as I age I only need to be able to sit in front of a computer screen to make $$$. This has been a lifelong dream of mine to run my own business.
Which leads me to evaluating existing Internet business for sale. I've done a few searches on this forum for information but didn't find what I was looking for.
1. What are the best sites used to evaluate an Internet business. I've been looking at flippa for Internet, bizbuysell for brick mortar
2. Good books / resources / mentor tools to learn how to evaluate
3. Records: how to validate the actual income? Can I ask for a tax statement or is there a specific form?
4. Any good learning
Example: existing business on flippa selling xxx widgets (physical goods). Annual revenue stated $350k, expenses $260k, net profit $90k annual. For sale for $80k.
Why would somebody sell a business making $90k a year for $80k? I would imagine a multiplier of 2 or 3 x minimum for a profitable "turn key" business right? There are 2 years of statements (in xls) that support the PnL. What am I missing or is this typical? Obviously I need to put the time and effort into operating and marketing the site (no free lunch). However I'm happy to work a part time business to make $90k profit at this point from a computer screen.
I've worked in the tech Industry my entire life, so while I'm not a developer I do understand tech pretty well. I also pick up new concepts and business models too. I used the bogleheads philosophy on expenses and investing, which put me into a fortunate financial position today (as well as working my tail off
)I'd like to start smaller to acquire a business (under 100k). Then learn before I go to take on anything bigger.
Thanks all for the info.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Access Restricted: Unlock 1,000,000+ Posts
Stop Peeking Through the Keyhole.
Open the Door.
You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.
- Active Daily: Life-changing content posted dozens of times every day. No dead threads.
- MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
- Vetted Network: Connect with founders scaling to 7 and 8 figures.
- Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."— User Richard Peck
"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?
