The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success
  • Please Leave the Politics to CNN and FOX.
    Just a reminder that political topics/memes are prohibited, unless discussed within the realm of business and investment, for example, the impact the new Treasury Secretary might have with BTC. Please help keep the forum free of politics. (And I promise to do better myself!)
  • Join 60,000+ entrepreneurs who are earning their freedom and living their dream.

    "Fastlane" is an entrepreneur discussion forum based on The C.E.N.T.S Framework outlined in the two best-selling books by MJ DeMarco (The Millionaire Fastlane and UNSCRIPTED®). From multimillionaires to digital nomads to side hustlers who are grinding a job, the Fastlane Forum features real entrepreneurs creating real businesses with one goal in mind: Freedom— both financial and temporal.

    Download (Unscripted) Download (Millionaire Fastlane) Register
    Registering for the forum removes this block.

I want to get off the 40+ hours treadmill

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

NoMoreTreadmill

New Contributor
Jul 18, 2018
3
1
13
Hello. A little about me...

I am in my mid-50s, college educated and have been in the IT industry for over 35 years. I make a decent 6-figure living and have a primary residence as well as a second home in FL that rents well for the first four months of the year. Both homes are mortgaged. My primary home has some decent equity and I have a pretty small retirement account (started saving way too late). I am burned out. I want off the treadmill.

I would like to find an existing business to buy that I could operate absentee; that has existing employees and a manager in place that keep the place running. Without selling my primary residence I only have about $50k to invest. If I sell my primary residence, which I am willing to do, I could have another $100-200k.

Are there any decent absentee owner businesses that could be purchased with as little as 50k down? 100k? 200k?

What kind of income could an absentee owner expect from such a business?

Thanks for reading and any serious input.
 

Don't like ads? Remove them while supporting the forum. Subscribe.

msufan

Silver Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Mar 13, 2013
264
542
247
This sounds like you are looking for a free money machine. Would there be any value you are adding? If your money is all you are adding to the equation, why not simply invest?
 

Late Bloomer

Gold Contributor
Read Millionaire Fastlane
Speedway Pass
Apr 17, 2018
950
1,337
362
"The 40 Hour Treadmill" sounds like the world's worst exercise infomercial :eek:

Welcome to the forum, great intro.

You need an education on business valuation, business acquisition financing strategies, and negotiation. I don't know how much of this you might already know.

The valuation is to identify the actual money flow through the business at is right now. Is it changing over time or is it steady state? Is the owner stating things accurately, or using some creative accounting? What's a realistic multiple for the actual financials?

Acquisition financing is to look at buying the business vs. just its assets. And can you find a way to get commitments for selling off or separately refinancing equipment, inventory, leases, etc.? Will the owner take installment payments over time? Perhaps that will be a tax advantage to them instead of a lump sum that's all taxed at once?

Maybe you only need a small down payment out of your own pocket. The really nice thing for you is that you can afford to put in a substantial amount of money, even if you can't arrange more creative terms for all of the business.

The negotiation is to be able to identify each party's goals and priorities, so you can recommend deal points that are agreeable to everyone.

There are plenty of good tutorials, courses, books on these subjects. I see that your vacation home is in Florida, but I don't know where you're mainly located. Where do you want the business to be?

Do you want to run the business you acquire, or have a management team in place?

Your local Small Business Administration office should be able to offer a free meeting or workshop with a local expert, banker, or attorney, who can tell you what kind of down payment and return on investment numbers you can expect for different types of businesses.
 

NoMoreTreadmill

New Contributor
Jul 18, 2018
3
1
13
This sounds like you are looking for a free money machine. Would there be any value you are adding? If your money is all you are adding to the equation, why not simply invest?

Can an investment provide a steady sufficient monthly income equivalent to what a business would provide?

For instance, if I could buy an ice cream store or sandwich shop in a good area in FL for as little as 50k down that might provide an income of 2000 or more per month. That would be the equivalent of like 240% from an investment, right?
 

NoMoreTreadmill

New Contributor
Jul 18, 2018
3
1
13
"The 40 Hour Treadmill" sounds like the world's worst exercise infomercial :eek:

Welcome to the forum, great intro.

You need an education on business valuation, business acquisition financing strategies, and negotiation. I don't know how much of this you might already know.

The valuation is to identify the actual money flow through the business at is right now. Is it changing over time or is it steady state? Is the owner stating things accurately, or using some creative accounting? What's a realistic multiple for the actual financials?

Acquisition financing is to look at buying the business vs. just its assets. And can you find a way to get commitments for selling off or separately refinancing equipment, inventory, leases, etc.? Will the owner take installment payments over time? Perhaps that will be a tax advantage to them instead of a lump sum that's all taxed at once?

Maybe you only need a small down payment out of your own pocket. The really nice thing for you is that you can afford to put in a substantial amount of money, even if you can't arrange more creative terms for all of the business.

The negotiation is to be able to identify each party's goals and priorities, so you can recommend deal points that are agreeable to everyone.

There are plenty of good tutorials, courses, books on these subjects. I see that your vacation home is in Florida, but I don't know where you're mainly located. Where do you want the business to be?

Do you want to run the business you acquire, or have a management team in place?

Your local Small Business Administration office should be able to offer a free meeting or workshop with a local expert, banker, or attorney, who can tell you what kind of down payment and return on investment numbers you can expect for different types of businesses.

The goal would be to have a management team in place it at first I could run the business myself to get a better grasp of the day to day and expected income and expenses, etc.
 

GoGetter24

Gold Contributor
Speedway Pass
Oct 8, 2017
571
1,163
365
Various
Are there any decent absentee owner businesses
No. It would almost always be priced in (and finding one at a discount won't happen by asking this question on forums). You'll have to do some work. There's a reason a business might have a 20% ROE whereas a bank deposit has 2%.

The best plan would be to buy a small IT business, since that's what you know best, assuming you have management experience, so it'd be easier for you to run. And to increase your income-costs margin.
 

Sponsored Offers

  • Sticky
MARKETPLACE Fox Web School "Legend" Group Coaching Program 2021
Yeah, your youtube channel is incredible and all the videos I have seen so far are really great...
  • Sticky
FEATURED! Introducing... WEALTH EXPO$ED, A Short Story By MJ DeMarco
Finally! I just launched a short story on Kindle (FREE if you have Kindle Unlimited)! After...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
I planned to make a separate post for this video but it is useful here as well for anyone...
  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
Last promo of the year.. Get the training you need now or miss it. Promo Code: FINALHOUR...
  • Sticky
MARKETPLACE Kill Bigger Incubator
UPDATED POST: Hey Guys! I wanted to give a quick update on what this program has become. In...
  • Sticky
MARKETPLACE Grow Your Business With a Book (An Unorthodox Marketing Strategy That Built One of the Largest...
Are you looking for a new, lesser-known but potentially very lucrative source of leads to your...



Forum Sponsor

sponsor

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom