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Has anyone been able to make an actual living and not lose everything buying a business ?

Everyone tells me I will take a bath and never gain back any of the money invested. I don't have a working spouse but looking for business to buy where I can generate full time income

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Answers (7)
Candice Cain
International Wellness Company
Director V
Suffolk County, NY

We need to talk!!! Would love to speak with you about an international wellness company that I have made quite a profit with. Please email or call 631.954.1919.

Feb 9, 2013
Will Mowre
5 Linx
Executive Director
Cook County, IL

Nick, The answer is "Yes"

You can earn an actual living and "NOT" lose everything buying a business.

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• Start dreaming again!!!

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Feb 4, 2013
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Jackson County, WI

We did it, started out 8 years ago just before the economy started going south, although is picking back up nicely again. We've been turning a good profit every year, and have grown into a multi line power sports company in Wisconsin. Appr annual net $110,000

Mar 15, 2012
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The BAF Group LLC

Sorry, my comment should have stated, "... why did the current owner NOT gain from it?"

Oct 23, 2011
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The BAF Group LLC

Nick, Dave, NEVER, EVER measure a business by a 'pro forma'. If someone tries to sell you anything that purports to be an operating business by use of pro for as, run for the hills!!! 'Potential is another curse word, in my book! If there was so much damned potential, why did the current owner gain from it? 'Pro formas' and 'potential describe start-ups, not operating businesses. Start-ups are fine, if that is what you want; but they are completely different from mature businesses and demend completely different investment strategies.

Oct 23, 2011
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I suspect a lot of the reasons they fail-along with the buyer not doing the dd before the purchase,is many of whats offered are barely making money for the seller and he has to sell to try and cover his debts.The next owner not only has a declining top and bottom line growth to deal with but also the debt service.
I have been seriously looking for almost a year and most of the balanced sheets I look to not support the price the owner is asking,that why they use 'pro forma' to try and fluff up the bottom line.
I am finding the same thing you are in my search Nick.

Oct 23, 2011
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The BAF Group LLC

Armand Hammer failed a number of times, before finally hitting it big and becoming one of the wealthiest men in the entire World! That question suggests that you have not done your homework, and that is the kind of thing that will ultimately cause you to fail! You need to understand what makes a successfull business, what businesses have the greatest liklihood of succeeding, then using your own strengths to those kinds of businesses, as well as what you have learned about the market place and how it impacts your choices. People who fail, in many, many cases do so because they have not researched, they have not planned and they have no idea what affects their businesses, in both positive and negative ways.

Many writers here would casually have you buy some losing businesses they are offering, or take loans from them in some very risky and unintelligent ways; YOU are the only person that is in position to best guard your own interests. If you have not taken the time to prepare, you cannot expect to protect those interests.

Prepare well and you can succeed. Yes, there are outside forces that can cause you to fail, but with proper research and planning, you can minimize (but not eliminate all) of those negative forces. A lot of it depends solely on you.

Oct 22, 2011

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