The BizBuySell Small Business Community

  • Get Expert Advice

  •  • Find Local Service Professionals

  •  • Share Your Experiences

Work in IT, but want to buy a small business for the long term. Help?

Getting burned out at corporate work, partly due to health issues, and want to get into a small business initially on the side, and full time later if it goes well. I am an engineer with a Masters degree, but I am deaf. Need advice on what will be suitable to buy in my case. My wife has normal hearing, is a paralegal, in good health, has good sales skills and a little property management experience; she will assist me with day to day management. Tried home-based recruiting for a while but don't have enough of a network to make any serious income. Buying an established small business, say a staffing, technology, property management or hotel seems the best bet, but what can I buy without risking too much of whatever little in assets ( about $150K in 401K and IRA and $100K in home equity ) I have? Any ideas?

No User Photo

Answer This Question

max 5000 characters

Web Reference (optional)

e.g., "www.mywebsite.com"

Review Community Guidelines

Help keep our Community clean and on topic. The BizBuySell Community is a place where you can discuss your questions, concerns and knowledge with others you can trust. It is not OK to use this forum to solicit others for personal or financial gain, or to rant about personal issues. It's all in the guidelines.

Submit Your Answer
Answers (17)
No User Photo

Hello!

Have you ever searched for funds, loans, financial assistance or need an accredited lender to help you meet up with your needs and demands? Do you want an Investment Loan for your business Or have your bank turned you down? Is your monthly income disappearing due to high interest rate on your Loans, Credit or Bonds? Then you have no alternative than to get an instant and reliable service. Contact us today at vhernan712@gmail.com for Legit/accredited Loans, Mortgages and Investment funds. For Quick application, Apply within; Full Name: Loan Amount needed: Loan Purpose: Loan Duration: Phone number: Address/Country:

Aug 16, 2016
No User Photo
LAW OFFICE OF RICHARD J. CARDINALE
LAW OFFICE OF RICHARD J. CARDINALE
Bronx County, NY

Am interested.
What kind of business?
How much?
Whatis it about?
How much?
How can you work anywhere in the world?
How much is "lots of money"?
how much you have?
contact me with more details soonest.
lawrichard82@hotmail.com
(917)285-8755
thanks

Dec 25, 2012
Michael Hamlar
Hamlar Enterprises, LLC
Roanoke City County, VA

Ted,

We hope this finds you doing well. In response to your wanted ad what do you like to do. Are you looking to relocate? We have several opportunities that may work for you. If you are interested please contact us st 1-800-682-1950 ext. 101.

Regards,

Michael Lawrence Hamlar, Doctoral Candidate, LFSP
President & CEO

Hamlar Enterprises, LLC
Hamlar Business Broker
P.O. Box 3336
Roanoke, VA 24015
Phone & Fax 1.800.682.1950
Email: mike@hamlarenterprises.com
Skype: MHamlar

Sep 2, 2011
No User Photo
BJ Jones Realty Co.
President
Lane County, OR

How about a market and gas station in Florence, OR that grosses nearly $900k annually. Seller financing with $150k down which includes about $45K in inventory. Call me for details and photos 541.513.6196.

Aug 31, 2011
Josh C
Facts Weekly
Owner
Warren County, KY

Hello Ted, not sure if you were able to find something yet or not. If you have not found something, you may want to look into what we offer. Less risky and very little money needed to get started. We sell content to "free little papers" around the country. You would own the business yourself, we simply sell you the content and train you to succeed. Based on your situation it could be a good fit for you and your wife to work together. Let us know if you would like to receive more information.

Jul 6, 2011
No User Photo

Ted,
I would like to tell you more about a business involving vacation home rentals. I think it would fit in nicely with your wife's sales and property management background and your IT skills. I work for a company that has operated a successful vacation home rental co. in Seattle for many years and is looking to branch out to other areas of the US. We teach you everything you need to know and provide back office support such as reservations, accounting and marketing. You as the owner of the company would sign up homes for the rental program and oversee housekeeping/maintenance. The investment is well below what you mentioned you had available to spend. Too many details to explain here but would appreciate the opportunity to email you more info. This could be run as a home based business with low overhead. email: highflightmarketing1@gmail.com

Feb 8, 2011
No User Photo

We have a great retail/online business for sale in the midwest. We are also a husband/wife team however we opened a second unrelated business and we had a new baby so we are running out of time for both. With your IT experience and her sales experience this might be a good fit. Currently this business would run well absentee but would also do great with a little owner involvement. We have a great product line and a great customer base along with a POS system etc. Someone that is a little more internet savvy than ourselves could expand our online sales even more. If you are interested please email me at allisonb1@charter.net

Oct 5, 2010
No User Photo
Biz2Credit LLC
New York County, NY

Ted,

Biz2Credit (www.biz2credit.com) can help you in IT acquisition deals. Best would be to put around 50 - 100k and rest can be arranged as debt financing. No point in taking all the debt on your personal credit and using home equity when you can get business acquisition loan. Register for free on Biz2Credit.com and chose the case manager support to get started.

Sep 17, 2010
No User Photo

please take a look at "Award Winning Web Design Company For Sale"

Sep 16, 2010
Michael Hamlar
Hamlar Enterprises, LLC
Roanoke City County, VA

Ted,

Congrats on liberating from corporate America. There is nothing like owning your own business. WE have something that may fit for you as an absentee owner. It is still located in the state of Virginia but a great small business with good earning potential. It is an established business for over 40 years. It will be a great fit for you and your wife, especially with her sales background. If you are interested please contact us.

Regards,

Michael Lawrence Hamlar
President & CEO

Hamlar Enterprises, LLC
Hamlar Business Broker
P.O. Box 3336
Roanoke, VA 24015
Phone & Fax 1.800.682.1950
Email: mike@hamlarenterprises.com
Skype: MHamlar

Jun 13, 2010
Valerie Carr
Valerie Carr, Broker
Selllng Homes in Boulder, Colorado for 30 Years.
Boulder County, CO

Hello, I have a 12,200 sq ft B&B/Guest Inn for sale (just listed yesterday) in beautiful Boulder, Colorado. Purpose built with 13 large bedrooms and full baths with wireless work stations, fireplaces & A/C, central courthard, HOTEL zoning, confernece room for 40, breakfast room for 30-40, board room, and 2 bedrm, 2 full bath owners' or caretakers' townhome attached, income is net around $150,000 per year. Mostly brick, built in 1986 -I have photos, in very good condition, could be a spa, group home, rehabilitation, weddings, conferences, etc. A very well looked after and wonderful business with valuable real estate on .63 acres..
Valerie Carr, Broker 1-303-664-0262

Jun 12, 2010
Rick Carlson
Ace Business Brokers
Los Angeles County, CA
Premium Broker

Hi Ted, please email rickcarlson@acebusinessbrokers.com. I just recently facilitated an acquisition of a $350k IT firm, and through the process generated 94 buyer leads. I compiled a list of standard questions that you and everyone should ask any IT firm acquisition and will make it available to you if you'd like to help you out.

Cheers,

-Rick.

President, Ace Business Brokers
800-985-4939

Apr 29, 2010
No User Photo
Fairfax County, VA

Sam, it is hard for me to believe that the Office cubicle business can be a viable one.

Michelle,

Sorry we don't plan to relocate and being absentee owners in another state is not OK with us.

By the way, what is opinion of this board on the future of Medical Staffing or Medeical billoing businesses?

Apr 28, 2010
No User Photo

Mr. Ku, are you looking for a business that you could run as an absentee owner or would you and your wife care about relocating? I have a couple things in mind for you based upon the description of your skills for both you and your wife. Please contact me at mgoebel9@gmail.com if you are interested.
Kind Regards
Michelle Goebel

Apr 27, 2010
Buy-a- Company

Ted,

What IT skill do you have? Can you write state-of-the-art web pages? What kind of income are you seeking? How many hours per week can you work to start? Do you have photography skills?

Apr 27, 2010
No User Photo
Broker Consulting Services
Sr Broker
New York County, NY

Vested Business Brokers' Basic Steps to Buy a Business
Initial Consultation-Learn about how Vested's processes work to help you buy a business
You will want to have a one-on-one consultation via phone with a Vested Business Broker consultant, Joseph Di Bello (jdibello@vestedbb.com) to discuss all of your questions and concerns regarding the processes involved for Vested to help you buy the right business for sale. Joseph is trained to help you with your business concerns as well as your personal concerns. We realize that you are making both a financial and lifestyle decision, and the more we understand your needs, the better we will be able to help you buy the right business for sale.
FREE Buyer Registration-View confidential information about a business for sale
Once all of your concerns have been addressed and you have decided to proceed to use Vested in your quest to buy a business, your Vested Business Broker will help you to register as a business buyer at no charge. This is so you can view all the confidential financial information that you will ultimately need to see in order to feel comfortable when you buy a business.
You will need to either sign a one page confidentiality agreement also referred to as (NDA) non disclosure agreement electronically, or if you prefer, you can fax in the agreement (877-735-7505). In the agreement you promise not to disclose to anyone else any confidential information we may show you about any Vested listed business for sale.
Buyer Profile-Automation that helps you buy a business
Your Vested Business Broker will work with you to create your "buyer profile." This process helps make your search to buy a business more successful. Vested Business Brokers bring in new business for sale listings every day and your completed buyer profile will help our database to automatically flag any new listing that may be a good fit for you. When this happens, both you and your business broker are notified that there is a new small business for sale that you should take a look at.
Viewing Listings-Start online and then request an address of a business for sale
After you and your broker complete your buyer profile and enter it into the system, you can review each business for sale that the system recommends online. We also encourage you to browse through our listings of businesses for sale because often a registered business buyer believes he or she wants to buy a business of one type but ends up buying a business of another type that they simply just didn't think of.
Whenever you have looked in the database at a business for sale that you think may be a good fit, your Vested professional will provide you with the address of the listing so you can do a "drive by." If you prefer, your business broker will go along with you to take a look at the business for sale and address any questions about it that you may have.
Offer To Purchase-Making an offer on a business for sale
If a business for sale seems to be a fit and you have had a chance to think about making an offer (sometimes you may have to make several visits to the business to be certain), your broker will help you fill out a Letter of Intent. The LOI details the price and terms at which you would like to purchase the business for sale and sets the timeframe for due diligence (see below). Here your broker's experience will help you structure and make your best offer.
Due Diligence-Verifying the financials of a business for sale
Once your offer has been accepted, you will conduct a period of research on the business called due diligence. Basically, the process of due diligence takes place over a set period of time where you work with the seller to verify the financials of the business for sale as well as learn the inner workings of the business. Due diligence typically takes two weeks. A buyer should always bring in an attorney and accountant to help during this phase of the purchase. Your broker will be available to assist you during the due diligence process in every way.
Contract & Closing-Your dream to buy a business becomes reality
Following a successful due diligence period in which all of your concerns have been addressed, a contract will be drawn up between you and the seller. Typically, this is done by the attorneys on both sides of the deal. If the contract satisfies all the contingencies you have set forth, you and the seller can sign it and set a closing date. At closing, the business will officially change hands and you will have realized your dream to buy a business. Vested Business Brokers are available for you every step of the way to ensure that you are making informed decisions.
Call
Joseph Di Bello 508-965-8848

Apr 25, 2010
No User Photo

I am selling a daycare with a capacity of 90 children. It is located in Slidell, Louisiana. It can potentially bring in approximately 35 grand a month. You can contact me for details.
krachal1921@gmail.com

Apr 22, 2010

Start a Discussion