And the more interesting story, about £4.5k/mo from a cleaning business that i bought.
I will at some point write the story up, but the TL:DR is:
Spotted vastly under valued cleaning business with complete staff.
Turnover of previous owner £190k a year.
Profit of previous owner £18k. Yup, £18k....
Bought it for £13.5k.
Still in the early stages and still changing things but the previous owner was/is in massive debt, little free time to put into the business, did EVERYTHING on paper/fax/phone and had enormous monthly costs.
Theres a much longer story to this but i'll write it up in a few months when its a bit more proven.
Would love to read the story. Buying and modernizing traditional businesses (cleaners, laundromats, etc) is something that I think is really interesting.
Hey all, i realise i'm much too late to this but if anyone checks, i setup a mailchimp list i'll blast out when i make a proper write up of my story: http://eepurl.com/FNvPr
A day late and I'm not the OP, but a friend of mine did this by talking to a business broker. He found a small technology business that was operated by an old couple that needed to quit.
The couple had been making sensors for a niche industry forever and were still charging prices from 10 years earlier. His first order of business was to contact all the customers and tell them prices were going up.
Around $700/mo from a themeforest account.
And the more interesting story, about £4.5k/mo from a cleaning business that i bought.
I will at some point write the story up, but the TL:DR is: Spotted vastly under valued cleaning business with complete staff. Turnover of previous owner £190k a year. Profit of previous owner £18k. Yup, £18k.... Bought it for £13.5k.
Still in the early stages and still changing things but the previous owner was/is in massive debt, little free time to put into the business, did EVERYTHING on paper/fax/phone and had enormous monthly costs.
Theres a much longer story to this but i'll write it up in a few months when its a bit more proven.