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  1. #1
    Registered User MikeLowrrrey's Avatar
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    Anybody here ever buy an established business for passive income?

    Say a Yoga Studio where Yoga instructors rent your studio or a Beauty salon with a few employees. Yoga doesn't sound like a lot of crazy costs outside of a manager to handle finances and face to face interaction. Would sell yoga mats, detoxification drinks, clothes, etc.

    Reason why I say buy an established business is because it sounds most of the legwork is done. You have a rented building, established clientele, advertisement, etc.

    I was looking at this beauty salon here and I don't know what any of the terminology means


    https://www.bizbuysell.com/Business-...ZxJTNkYmoxaA==
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    Forever aBOARD guest89's Avatar
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    Very few people are going to sell a profitable business that runs itself and generates passive income. Which means if you are buying an established business, you're most likely going to either need to put money into it, or time to scale it or both. If you're going to buy a business you either need to be well versed in what it is, in case you have to manage it/run it. And you need to be well versed in managing a business. Are you certified in Yoga? Have a family member that is that you can pay to run it? Etc.



    I've put a good deal of thought into this myself because I like the idea of generating a passive income and I could come up with the cash to buy. Problem is I don't want to buy a sh!t show and end up having to pour a ton of cash/time into.
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    Trancebrah _zman's Avatar
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    Originally Posted by MikeLowrrrey View Post
    Say a Yoga Studio where Yoga instructors rent your studio or a Beauty salon with a few employees. Yoga doesn't sound like a lot of crazy costs outside of a manager to handle finances and face to face interaction. Would sell yoga mats, detoxification drinks, clothes, etc.

    Reason why I say buy an established business is because it sounds most of the legwork is done. You have a rented building, established clientele, advertisement, etc.

    I was looking at this beauty salon here and I don't know what any of the terminology means


    https://www.bizbuysell.com/Business-...ZxJTNkYmoxaA==
    I knew a business broker and they gave me examples of tons of businesses being bought and sold. The best one was a business that sold bulbs for ATMs. Profit margins were insane, revenue was $1 million + a year and they were still selling it.

    Most people just make money and move on with their lives / retire.
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