Invest Smarter
Helping results-driven individuals make results-driven financial decisions in order to build and preserve lasting wealth so you can spend more time doing what you love, and stress less about money. All content within the podcast is for informational purposes only and should not be relied upon for investment decision-making.
Invest Smarter
Buying a Business for Retirement Income with David Barnett
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Season 1
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Episode 52
On today's show, I talk with David Barnett, who is an expert in buying and selling business. I wanted to come at the conversation from the angle of buying a business as an income generating asset in retirement. He had a lot of wisdom to share. We cover:
- How did David become an expert in buying and selling "main street" businesses?
- Should you buy or sell a business in retirement?
- Aligning your business venture to your interests
- Why buying a business and being "hands-off" is an unrealistic expectation
- Don't be fooled by the promise of buying an "absent-owner" business
- There is a lot more to owning a self-serve car wash than just collecting quarters
- What are the most important things to think about when buying a main street business
- Why do you need to make a proper cash flow projection
- Three components of the typical financing for main street business transactions
- Red flags when buying a business
- How Seller Financing can help foster a successful transition
- The fragile nature of businesses
- Does the goodwill of a business reside with the business or the owner?
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