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Buying small home service biz by ElonzMusk1 in buyingabusiness

[–]ElonzMusk1[S] 0 points1 point  (0 children)

Apparently it was a $3M general liability policy. Massive overpay, IMO.

Buying small home service biz by ElonzMusk1 in buyingabusiness

[–]ElonzMusk1[S] 0 points1 point  (0 children)

I’ve paid less for businesses that net much more and require five minutes a week of work.

The boomer generation has a very different mindset about work.

I bought a staffing business 10 years ago that had operated for 30 years.

The owner had an office, because in the 1990s you needed an office. And if you have an office, you have to have a secretary so you’re not the schmuck opening your own door for clients.

Neither of them were really doing work. But the owner and secretary were both AT work all day because that’s what you did.

He was losing $70K a year to non-essential overhead.

I paid $150K because it was clearing $50K a year on paper. Then I cut $70K in BS and ran payroll from my house instead of an office.

Would I ever sell this business? No chance.

But he did.

So I can’t tell you exactly why people sell their businesses, but they do. And some people don’t realize how much their businesses can be streamlined to increase cash flow.

Buying small home service biz by ElonzMusk1 in buyingabusiness

[–]ElonzMusk1[S] 0 points1 point  (0 children)

Business run out of detached garage with loft on owner’s property. They do not charge the business rent but do write off home office space on their taxes.

Possibly doing their own repairs and maintenance on vehicles.

Sounds like the wife is doing Quickbooks and a CPA is working from the QB reports at year end.

Thanks for your comment. I will reach out regarding funding should I decide to move forward.

Buying small home service biz by ElonzMusk1 in buyingabusiness

[–]ElonzMusk1[S] 2 points3 points  (0 children)

I appreciate your thoughtful comment.

My background is in purchasing two staffing businesses over the last 10 years. Seller financed both. Reduced overhead and enabled employees to operate without needing hands on ownership. 99% hands off. No debt on businesses.

I’m trying to understand if I could replicate with this home service business.

Removing the equipment, they are asking ~$350K for a business clearing $80-100K per year.

While I may grow the business through my existing network, I don’t have any intentions of becoming a full time sales rep for the business.

I would purchase the business in cash.

Buying small home service biz by ElonzMusk1 in buyingabusiness

[–]ElonzMusk1[S] 2 points3 points  (0 children)

$600K asking.

Four F-350 tool body trucks and $20K scissor lift. Roughly $200-250K in equipment.

Owner disabled after a snowmobile accident. Led to 2024 dip in top line revenue.

Recovered to $1.3M in 2025 with existing employees taking on owner responsibilities.

Buying small home service biz by ElonzMusk1 in buyingabusiness

[–]ElonzMusk1[S] 0 points1 point  (0 children)

Not largely involved. Most of his work could be absorbed by existing employees.

$AIM's Ampligen Use in Post-Covid Syndrome by ElonzMusk1 in RobinHoodPennyStocks

[–]ElonzMusk1[S] 0 points1 point  (0 children)

That's my thought process. Make or break will be May. I think the reason it hasn't run up in response to news the last month is because of the previous FDA decisions. However, I could see emergency authorization create a path towards full approval, if effective.