Where is the best place to buy a "job" type business?

Discussion in 'General Business Forum' started by acrobat, Mar 15, 2019.

  1. acrobat

    acrobat UKBF Newcomer Free Member

    6 0
    I'm looking for a bit of advice.

    I've got a small amount of cash (approx 75k) and would really like to run my own business rather than work for others. However I've looked at a couple of sites like daltons, businessforsale and rightbiz and for the most part I'm seeing hair salons and cafes/restraunts/pubs.

    I know I don't have enough cash for a "serious" business so I should expect these results but I'm wondering if maybe I'm looking at the wrong sites or should be taking a different approach? I'm looking for online opportunities - not really interested in getting into shop lease complexities.
    Thanks
     
    Posted: Mar 15, 2019 By: acrobat Member since: Mar 15, 2019
    #1
  2. estwig

    estwig UKBF Legend Full Member

    12,072 4,183
    If your willing to punt £75k, why not buy stock of what interests you, watches, shoes, plastic replicas of rare south American frogs, whatever floats your boat. Get a website built and go for it.
     
    Posted: Mar 15, 2019 By: estwig Member since: Sep 29, 2006
    #2
  3. Stedurham

    Stedurham UKBF Regular Free Member

    160 15
    Depends what you want to do? You need to look at something you enjoy or you might aswell go and work for someone else.
     
    Posted: Mar 15, 2019 By: Stedurham Member since: May 11, 2018
    #3
  4. Helpful Johnny

    Helpful Johnny UKBF Contributor Free Member

    68 12
    Have you thought about a franchise, the franchise fee is so you have a proven model, advice and brand to work with. If you go through https://www.thebfa.org/ they are the association which makes sure the franchise is legit.. It doesn't have to cost anywhere near £75k and you'd have your pick of industries and ones which are man in a van type roles rapidly turn into multi van enterprises.
     
    Posted: Mar 15, 2019 By: Helpful Johnny Member since: Dec 28, 2018
    #4
  5. Mr D

    Mr D UKBF Legend Free Member

    12,464 1,316
    Running your own business can, as some found out the hard way, end up with you working for considerably less than minimum wage and be the lowest paid person in the building.

    You are seeing a popular kind of business for sale on those sites - they do get others. Just perhaps not as popular or advertised a different way.
    Even local free papers occasionally have jobs for sale.
     
    Posted: Mar 15, 2019 By: Mr D Member since: Feb 12, 2017
    #5
  6. Mr D

    Mr D UKBF Legend Free Member

    12,464 1,316
    Though franchise businesses can also be a bad idea too.
    BFA doesn't appear to have a lot of power if the deal goes sour judging by some comments over time from people who spent money on franchises that were …. not as good as claimed.
     
    Posted: Mar 15, 2019 By: Mr D Member since: Feb 12, 2017
    #6
  7. Helpful Johnny

    Helpful Johnny UKBF Contributor Free Member

    68 12
    Of course, anything can be a bad idea. My take is if you are coming on here to get advice about buying a job, franchising is definitely one way to go and choosing a carefully vetted one, which the BFA ensures happens, would mean that you have a better chance of success.

    I have experienced both sides, seeing people spending a large sum of money for basically nothing and others with multi van enterprises having invested a very small sum of their own money.
     
    Posted: Mar 15, 2019 By: Helpful Johnny Member since: Dec 28, 2018
    #7
  8. acrobat

    acrobat UKBF Newcomer Free Member

    6 0
    Well that is my plan B but I was under the assumption that if I bought a new or "retirement sale" business I'd get a bit of a head start in terms of a brand name (mostly unknown is better than completely unknown), website, FB account, etc. However what I see listed are dropshipping/adsense sites not real sites which I'm assuming is because they are out of my budget or I'm searching on the wrong sites.
     
    Posted: Mar 15, 2019 By: acrobat Member since: Mar 15, 2019
    #8
  9. acrobat

    acrobat UKBF Newcomer Free Member

    6 0
    Thanks for the link, I will check them out now. I do like the idea of franchise but I took a look at the normal players like McDonalds, Subway, etc but they are way out of my league so I didn't pursue.
     
    Posted: Mar 15, 2019 By: acrobat Member since: Mar 15, 2019
    #9
  10. Darren_Ssc

    Darren_Ssc UKBF Contributor Free Member

    55 8
    Assuming you already owned the kind of website you are suggesting, established with regular traffic and income, why would you want to sell it?

    This is why you won't see many of these kinds of businesses for sale. I'm not saying they don't crop up from time to time but, unless you are very lucky, you'll need to be patient.
     
    Posted: Mar 15, 2019 By: Darren_Ssc Member since: Mar 1, 2019
    #10
  11. Mr D

    Mr D UKBF Legend Free Member

    12,464 1,316
    The people selling such sites will go where the buyers of businesses are....
    Which is the same places that sellers of businesses advertise.
     
    Posted: Mar 15, 2019 By: Mr D Member since: Feb 12, 2017
    #11
  12. Clinton

    Clinton UKBF Big Shot Full Member

    3,787 1,278
    Hey @acrobat, in addition to the three portals you mentioned, there are several others. I maintain a list of them here.

    But, even in the others you likely to find a lot of the cafe, hair salon, newsagent type businesses. More disappointingly, you'll find businesses being sold by people with unrealistic ideas on valuation / price.

    People like you looking for "online opportunities" end up in places like Flippa and Empire Flippers. I was buying and selling online businesses long before those sites ever existed (and long after they were created). I've also run a forum for buyers / sellers of online businesses and we've exposed no ends of scams at places like Flippa.

    I've written extensively on due diligence etc when buying an online business (you could start at this article of mine). But the scams have become more and more sophisticated and Flippa themselves aid and abet the scammers (because they are paid by the seller).

    I would advise you to ditch all that you've heard about website flipping. 99.99% of it is nonsense. If you have the savvy to run an online business then use that £75K to start a new business! If you jump into buying one ... you're a lamb to the slaughter. Even I, with my vast experience in this area, have a 75% chance of getting burnt if I bought a small (sub $75K) online business today.
     
    Posted: Mar 15, 2019 By: Clinton Member since: Jan 17, 2010
    #12
  13. TheWebDesignCompany

    TheWebDesignCompany UKBF Regular Full Member

    104 4
    Have you considered an investment type business, there are certain whiskeys that increase in value so fast, you could buy £20K or £30k of rare whiskey and sell it just a few years later for 2 or 3 times as much sometimes much more...
     
    Posted: Mar 16, 2019 at 1:39 PM By: TheWebDesignCompany Member since: Mar 11, 2019
    #13
  14. The Byre

    The Byre UKBF Ace Free Member

    8,090 3,146
    Talk to @Pish_Pash - he's trying to sell his one-and-a-half-man business. You two may be made for one another!!!

    As for @Clinton's supposition - he's waaay out and so I've fixed his quote -
    As for the rest of his advice - pay close heed (esp. about due diligence!) and read every word on his site!
     
    Posted: Mar 16, 2019 at 2:14 PM By: The Byre Member since: Aug 13, 2013
    #14
  15. Clinton

    Clinton UKBF Big Shot Full Member

    3,787 1,278
    I doubt @Pish_Pash 's wife would like you calling her half a man. Ol' Pish_Pash has enough wife problems without you adding to them!
     
    Posted: Mar 16, 2019 at 4:14 PM By: Clinton Member since: Jan 17, 2010
    #15
  16. Alan

    Alan UKBF Legend Full Member - Verified Business

    6,144 1,702
    I would say that $75k is more than enough to build your own 'job' business. In fact £7.5k is still plenty to build your own job business.
     
    Posted: Mar 16, 2019 at 11:18 PM By: Alan Member since: Aug 16, 2011
    #16
  17. MBE2017

    MBE2017 UKBF Enthusiast Free Member

    581 128
    Totally agree with Alan above, why buy a job instead of making one instead, £75k should give you 3-4 years to build the business up.

    The hard part is deciding what to do, but if you can find something it is almost always cheaper to start yourself.
     
    Posted: Mar 17, 2019 at 12:06 PM By: MBE2017 Member since: Feb 16, 2017
    #17
  18. Pish_Pash

    Pish_Pash UKBF Ace Free Member

    2,351 589
    My stock alone amounts to £170k
     
    Posted: Mar 17, 2019 at 6:07 PM By: Pish_Pash Member since: Feb 1, 2013
    #18
  19. Alan

    Alan UKBF Legend Full Member - Verified Business

    6,144 1,702
    So that means £17k if you actually want to dump it - lol
     
    Posted: Mar 17, 2019 at 10:09 PM By: Alan Member since: Aug 16, 2011
    #19
  20. Pish_Pash

    Pish_Pash UKBF Ace Free Member

    2,351 589
    I'm not dumping ...& even if I were, I think 90% off is a little optimistic (is your name Philip Green by any chance?) :)
     
    Posted: Mar 18, 2019 at 8:15 AM By: Pish_Pash Member since: Feb 1, 2013
    #20