Thread by @benkellyone

Everyone wants a 6-figure corporate job until their marriage is falling apart, working 60 hours a week.

The new American Dream is to buy a business that pays you $100k/year while you spend time with your family.

Here’s how I do this (as a regular guy):

There are 1,000,000s of these boring businesses for sale in the U.S.

• Car washes
• Laundromats
• Nail salons
• Accounting firms

I own 7 (& they paid me $70k last month).

Here’s everything I’ve learned:

1. “How do I buy a business if I don’t have much money?”

If you’re in the U.S. you can use an SBA 7(a) loan to finance 90% of the deal.

You can either:

(1) Pay the remaining 10% yourself
(2) Find an investor & give them 15% equity

Use the business cash flow to pay the loan off.

2. “What are the best businesses to buy?”

These are some of my favorites:

• Accounting firms
• ATM routes
• Nail salons
• Laundromats
• Pest control
• Drilling companies

Just pick one and start searching for deals.

3. “How do I find these businesses for sale?”

As a beginner, I would start looking on smbmarket(.com) using these filters:

• 5+ years established
• $500k–$3M price range
• $100,000+/year cash flow

4. “What makes a good deal?”

If I were doing my first deal again, I would hire a CPA to help me analyse the financials.

But here are some quick rules of thumb:

→ 50%+ is recurring revenue
→ Has an existing team in place
→ Revenue growing at 10% a year

5. “How do I run the business after purchase?”

I always recommend hiring a general manager.

You pay them $60k–$100k/year to run day-to-day.

This is how I’m able to run 7 businesses without going crazy.

6. “How much can I make on just 1x deal?”

I’ve made anywhere from $50k/year to $175k/year from just 1x deal.

On every deal…

Check that you’ll make your money back within 1 year after paying the bank, employees, and investors.

7. “Can I improve the business after purchase?”

Yes, most businesses are owned by boomers who don’t have:

• Websites
• Social media
• Facebook ads
• Google reviews
• Online payments

In general, these small changes can improve cash flow by 5–25% after close.

8. “Can I buy a business without using a bank loan?”

Yes, you can use seller financing terms.

This is where you’ll pay the seller back over time.

You don’t put down a big chunk of money, so they don’t have to pay a huge capital gains tax.

It’s a win-win for everyone.

Common rookie mistakes:

• Rushing due diligence
• Not looking at enough deals
• Buying a business with 0 systems
• Not having a plan for after they close

Avoid these and you’ll struggle to go wrong.

Business acquisition helped me quit my corporate job and achieve financial freedom.

Want to learn how to do the same?

📲 DM me “Biz” and I'll show you how
🤝 Follow me → @benkellyone for more

Thanks for being here!