Buying a Business (For Beginners) | Jonathan Jay | 2023
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- Опубліковано 15 лип 2024
- Your free training on how to buy a business without cash is here: bit.ly/3UhJrlF
Want to know how to buy a company?
Discover the essential tips for buying a business as a beginner in this informative video by acquisitions expert Jonathan Jay.
If you've never acquired a business before but are interested in doing so, you're in the right place. Jonathan Jay shares his expertise and guides you through the process step by step.
In this video, you'll learn:
• The importance of deciding the type of business you want to buy
• Why buying a business you understand is crucial for success
• Strategies for finding business owners willing to sell
• The importance of having meaningful conversations with business owners
• How to negotiate the price and terms effectively
• The difference between buying assets and buying shares
• The significance of having a clear plan throughout the acquisition process
• Building the right team, including an accountant and lawyer
• Overcoming challenges and staying determined to complete the deal
• Post-acquisition checklist and taking over the business
• Exploring the buy and build strategy for future business acquisitions
If you're excited about the possibility of buying a business, spend a day with Jonathan Jay in his comprehensive training programme.
Learn the ins and outs of successful business acquisitions and discover how to buy a business without using your own cash.
Get ready to embark on your journey to become a business owner and start creating wealth through acquisitions. Watch the video now! - Навчання та стиль
If you enjoyed this video and would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at bit.ly/3UhJrlF
Thank you!
do you have any training in the evening? I would like to join your course but work 9-5pm pacific.
@@surge1939 not currently, sorry
Thank you Jonathan
Best advice I have ever gotten!!!
You are the real Top G! ❤
I like this vid. Good insight.
This is definitely impressive advice and guideline Jonathan , thanks
Commenting to get more content like this in my feed #financialindependence
I really enjoy and am inspired by your content Jonathan. Thank you
Do you have any examples of people who are not business owners but employees with business acumen that took the plunge into business by buying a business ? Most of your guests already own their own business
Yes, plenty, One is a guest on the Business Buying Strategies Podcast in a couple of weeks - HR employee at a bank turned dealmaker
Good thanks
Thank you sir.
Most welcome
So glad I found this channel.
Great video broken down in simple terms. Thank you!
Glad it was helpful!
Great video - well explained
Glad you liked it!
Thank you so much❤
You're welcome 😊
Great Lecture. I wish I could meet you face to face to get started buying and selling business.
This guy is the best on UA-cam in this niche
thank you!
I'm buying my own business and this was very helpful
Glad to know - have you been on the training - www.thedealmakersacademy.com/fast ?
Great information as always Jonathan, thank you.
You often talk about having the right team around you, would this make the very first step in buying a business to find a good accountant, lawyer, financial advisors etc? I feel I am learning a lot from your videos, but I do not feel like I could ever do this all on my own.
Thanks again, and please do keep up the great content.
Thank you. the first step and the second step go together- find the deal/find the team
@@theDealmakers excellent, thanks again.
@@theDealmakers sorry guys, going to jump in here, paying the team then, does that payment for the services come from the business that your buying?.... does that make sense?
@@slatter76 yes, that's right
So helpful
Glad it was helpful!
Yes
Very good.
Thanks!
Hi Jonathan. I've read the free ebook you had a site and it was great!!! Very informative. I'm currently a university student in South Africa. Do you think purchasing your course will work for me? Do you have any advice for me getting started in buying business?
as you are a student, stick to my free content!
@@theDealmakers A fake guru would never say this, they would push everyone to buy their course… very few people are as transparent as you are Jonathan! Makes me want to learn more from your knowledge.
Hi Jonathan
Thank you for sharing your knowledge with us. If I may ask you a question
What are the 13 questions you use
Thank you
Julian
Have you been able to attend any of my business-buying courses?
No I have not
I will take your course witch one you recommended for a beginner
do you ever hire a intern if so I love to apply
Hi Jonathan, I have a quick question if you could be so kind as to help me out please? I have a meeting scheduled with a lady who wishes to sell her business, however, how do I broach the subject of deferred payments with her? I'm aware of creating rapport etc and I have a bunch of questions to ask her about the business, but how do I steer the conversation in the deferred payment direction? Any help would be much appreciated 😃 thank you❤️
You tell her this is how a purchase would work
How do I get a 10 minute conversation with you? Zoom or phone call.
Good stuff
Glad you enjoyed
I am currently a 1st year architecte student and I am wondering roughly what's the amount of money required to buy a business ? I won't be able to buy one as it is now but I wish to invest in the futur once I am settled. A business which focalises in technology.
Businesses vary greatly in price. An absolute dirt cheap one, you'll want about 200Gs, and you can go all the way up to a hundred mills and beyond. There's a business for every budget, but when they start getting too cheap, they start losing their wealth generating capabilities. Unless you want to build them up from the ground, in which case I would ask, why are you even buying? The point of buying is to avoid the initial years of difficulty. You're better off getting some investors on board and buying one that has decent financials.
6.5 million for a good construction/architecture bussiness
What about buying a percentage of the business? Say you're just bringing in capital and in return you just want say 15% of the profits. Leaving the owners to continually run the business as they have been? By the way i live in Plainfield, IN (USA)
You could, but I prefer owning all the company
@@theDealmakers owning the whole company will include the shares of the company also? Your video suggests that deal makers should focus on the assets and not the liabilities?
Would your business Buying tool kit and zoom be applicable to someone in California if you are in uk? will the Laws, Loans, Process, names of organizations be different?
Yes, we have clients all around the world. You would always use a lawyer and accountant/CPA in your territory. What we teach are the global rules of dealmaking
Do you provide guidance from start to finish?
Yes - hold your hand through your first deal
Would rather buy a $20 board game for now.
Do you take on US residents in your program?
Yes, we have clients from all over the world
Great video, makes total sense. Everyone think that theyre suppose to just hand it over to you😂 guess what ? You gotta work a deal. I know right sucks you gotta lift a finger
Yes, always work involved, but worth it!
Can this work in Canada ?
yes, it can
So im a 19 year old with 3,000$ and have no business currently and have a full time job, can I still do this ?
You can try and do 0% down seller financing, or try and get 100% financing from venture capitalists.
I thought that last 5 day class the last?
yes, that's right
I am afraid it would be costly
hey jonathan how can I find businesses to buy?
Lots of content on this channel about that! You should also join the FastTrack course: www.thedealmakersacademy.com/fast/
@@theDealmakers thank you
Anyone know the best way to find a good bussniess lawyer?
which country are you in, Levi?
@@theDealmakers Merica lol.
The best way is personal recommendation
@Jonathan Jay 10-4. I'll ask around then. Thanks brother.
I’m looking to buying someone’s property along with the building so I can have it demolished and have someone else franchise built on the property.
i just want someone to give me a chance o
where is the Pdf for your free book?
www.thedealmakersacademy.com/free-book-giveaway/
there is no (pdf) ebook.
I'm from South Asia, you may not have physical book shipping facility over here, do you?
By the way, thanks for your content and reply on comment.
So find someone that has woken up and wants to sell the business but don’t buy that business look harder look for multiple people that want to wake up and sell their business that day. Seems very unlikely
it's actually very likely and hundreds of our clients around the world are doing exactly that
Of course you spam people and call them….
No, that's not right - you do neither of those things
Thanks for subscribing back Jay.
This is like 1% of the information you need to actually get a deal done. I'd recommend spending several hundred hours just learning how to buy a business before you even start, assuming you already have the skills to run one. If not, then spend 8 or 10 thousand hours learning how to run one, then start planning to buy one.
Great advice - if anyone thinks they can learn how to buy a business from UA-cam they are in for a surprise!
You managed to talk for so long and say nearly nothing.
I feel like these videos just add anxiety to buying a business
can you explain what you mean, please?
Like I found a business already I want an most likely can get but this makes it feels like just seems straightforward to get the business if they already dropped the price on it down so much already
@@theDealmakers to purchase it like you would a house
what is your question, please?
@@theDealmakers like I found a business that’s perfect price an do I just say I’ll take it as that price
Create a fair offer and don't budge by a penny.
Use the right accountants and lawyers, other people can do 80% of the work, why not leverage them.
Use a checklist and have the seller finish it with solicitor
Buy and build strategy - buy small businesses and merge to create larger, more valuable business worthy of selling to a plc.
network is good for buying one business, not serveral.
One meeting over phone, 30 mins. 2nd meeting seller comes to you, 90 mins. 3rd meeting you go to seller premises.
sign head of terms that can be extended, 90 days, they can't talk to any other buyers.
always delegate due diligence to find flaws.
You will most likely have a virtual completion where your solicitor calls you.
Thanks for the summary although a couple of the details are wrong!
@@theDealmakers which details?
Maybe I’m stupid or confused. You say it’s a mistake or an error to use a business broker but then you proceed to describe all the steps one would be required to take in order to buy a business and to the layman like me it sounds like I’m doing the work of that broker. If I’m a first time buyer of a business, a total beginner which is who this video was tailored for it seems, then why should I not trust the people who do this for a living? Isn’t this similar to me saying I’d love to have a new house but I’m just going to go ask a bunch of home builders how to do the work and then swing by Home Depot for some wood and nails? Not trying to be rude but it does seem as if you are presenting a video for beginners from the perspective of someone who has done this a bunch of times in the past so you gloss over the basics and fundamentals of actually doing this work as a true novice. Then you comment on someone else’s comment that anyone who views UA-cam videos and thinks they can learn how to buy a business is in for a surprise. What is the point of this video in that case?
Buying a business through a broker is the wrong way for a beginner to do it - you will get a worse deal than if you went to the the owner directly.
@@theDealmakersso would a beginner just go get pre-approved for an SBA and then just call the business and ask to speak to the owner? Seems like a potential hurdle if someone only has previous experience of home buying as a purchase of something worth a considerable amount of financing. I’m actually in the beginning steps of buying a business now. My son and I have our eye on a laundromat we know is being sold but have no practical experience buying a business and performing the proper due diligence to establish the worth or see potential risks. Wouldn’t a business broker be akin to a real estate agent/broker? If that’s true then wouldn’t that automatically require them to act in good faith for both seller and buyer or risk alienating either side as potential future clients? Again, not trying to be contrarian, just honestly seeking understanding of why I should assume brokers are going to take advantage of me as a customer.
We don't need SBA loans for what we do. TThis will help clarify re brokers: ua-cam.com/video/jyikQ0vlo5o/v-deo.html