Ive got a couple small service businesses in the contracting/construction arena I run with a handful of employees (8 total). One is seasonal so has limited scalability and is ridiculously competitive. The other is scalable but requires large amounts of capital to really become a known brand in my area. Each one of these 2 businesses does about $250K to $300K each. I have the opportunity to buy another service business that comes with employees and it grosses $400K. The owner is in bad health and I think I can grab this for around $30k.
My question is should I keep expanding and buy this business or focus more of my efforts on the 2 businesses I already have. I will say that I run pretty much all of the duties in my 2 businesses as far as sales, estimating, employee management, customer service. Buying this 3rd business might allow me to be able to afford an actual secretary to answer phones and do paperwork.
Thoughts?
My question is should I keep expanding and buy this business or focus more of my efforts on the 2 businesses I already have. I will say that I run pretty much all of the duties in my 2 businesses as far as sales, estimating, employee management, customer service. Buying this 3rd business might allow me to be able to afford an actual secretary to answer phones and do paperwork.
Thoughts?
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