Devil's advocate...

Yes... we are absolutely interested in your $50,000 bar for sale with 3 stools and no customers.
cambodiaeo
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Devil's advocate...

Post by cambodiaeo » Mon Feb 02, 2015 5:23 am

Hi! In other places I looked around the world, I looked for businesses to buy. So far, I have found:

- over-priced businesses making some profits: for some reason, the seller does not acknowledge the difference between gross sales and profits. On average, it always take 4-5 years to pay the sales price using profits, not realistic in this economy

- empty shells: an idea with a website and a lease to pay, with not much else going on. Over priced anyway

The only reason I see why someone would sell a successful business is if a person has to move elsewhere, or has debts, or has to go elsewhere due to debts/divorce. But I have never found such business.

Some people claim they want to retire, but honestly I see it hard for a successful entrepreneur to want this. Unless the business is such a mess - with no delegation whatsoever - and wasting all the days and nights of the entrepreneur.

Thoughts? Did you ever found a business which was worth buying (meaning it brought you real profits)? Cheers
NokTang
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Re: Devil's advocate...

Post by NokTang » Wed Feb 04, 2015 7:39 am

cambodiaeo wrote:Hi! In other places I looked around the world, I looked for businesses to buy. So far, I have found:

- over-priced businesses making some profits: for some reason, the seller does not acknowledge the difference between gross sales and profits. On average, it always take 4-5 years to pay the sales price using profits, not realistic in this economy

- empty shells: an idea with a website and a lease to pay, with not much else going on. Over priced anyway

The only reason I see why someone would sell a successful business is if a person has to move elsewhere, or has debts, or has to go elsewhere due to debts/divorce. But I have never found such business.

Some people claim they want to retire, but honestly I see it hard for a successful entrepreneur to want this. Unless the business is such a mess - with no delegation whatsoever - and wasting all the days and nights of the entrepreneur.

Thoughts? Did you ever found a business which was worth buying (meaning it brought you real profits)? Cheers
The reason a small business is for sale doesn't matter. What matters is what is it worth. Often, in these third world environments we are referring to a business which is not only losing money but is in debt. Why would you "buy" a business that is losing and is in debt? Why of course on the promise it can be profitable with a few changes, or, your perception you can turn it around. But in those cases, you don't need to "buy" anything. Just open across the street. The sales techniques used by third world barangs in countries like Cambodia and Thailand are for the completely ignorant to absorb and accept as fact.
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