So, I have started a small side business, which is a local service business and is very niche with nobody else doing it in my area. I started a thread on it here: EXECUTION - Overall Look at a Local Service Business
But, while I was networking and talking to people I know that run local businesses, I randomly found someone that would sell me his business. I know him very well. It's a sign business, so like real estate signs, construction signs, business signs, etc. We haven't talked about what he wants for it yet, but he said it averages about 18k a month gross and margins are 40-45% and takes up about 25 hours a week taking home around 8k a month. All of his work is from repeat customers that he's had forever, he's been doing this for like 23 years. He has no website, doesn't go after any new business at all, just answers the phone when people call. He said it is definitely something I could do while keeping my job for as long as I want, because I have early hours at my day job for the most part.
So, I'm wondering if anyone has experience in the sign industry, but also if anyone has some tips on getting financing? SBA loan? I can try to get a personal loan from family or friends if y'all think going through the bank isn't worth it.
Thanks
@ZCP @minivanman @Walter Hay @Greg R @Kak @MJ DeMarco @Andy Black @Vigilante
But, while I was networking and talking to people I know that run local businesses, I randomly found someone that would sell me his business. I know him very well. It's a sign business, so like real estate signs, construction signs, business signs, etc. We haven't talked about what he wants for it yet, but he said it averages about 18k a month gross and margins are 40-45% and takes up about 25 hours a week taking home around 8k a month. All of his work is from repeat customers that he's had forever, he's been doing this for like 23 years. He has no website, doesn't go after any new business at all, just answers the phone when people call. He said it is definitely something I could do while keeping my job for as long as I want, because I have early hours at my day job for the most part.
So, I'm wondering if anyone has experience in the sign industry, but also if anyone has some tips on getting financing? SBA loan? I can try to get a personal loan from family or friends if y'all think going through the bank isn't worth it.
Thanks
@ZCP @minivanman @Walter Hay @Greg R @Kak @MJ DeMarco @Andy Black @Vigilante
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