That last one is exactly what a friend of mine did. IIRC, he contacted a business broker and told them what he was looking for and they found the company.
He bought a literal Mom & Pop outfit that made thermocouples for a specific application. The "Pop" was going blind and Mom wanted to retire. They were barely making money but my friend realized that it was mainly because they were underpriced and their marketing was nonexistent.
He bought the business for a song and immediately called all the customers and told them he was raising prices to market rates. After turning things around, he sold the company about five years later for a healthy profit.
He bought a literal Mom & Pop outfit that made thermocouples for a specific application. The "Pop" was going blind and Mom wanted to retire. They were barely making money but my friend realized that it was mainly because they were underpriced and their marketing was nonexistent.
He bought the business for a song and immediately called all the customers and told them he was raising prices to market rates. After turning things around, he sold the company about five years later for a healthy profit.