5 Things Learned From Buying Our First Business

Six months after forming the partnership with Green Spaces, the owner's approached us to buy the business. Both in our mid twenties, we'd never done a deal this big before. But after reviewing the financials of the business, we decided it was a business worth acquiring.

Neither of us come from family money.

Small business loan process was a pain in the ass.

So we pitched the deal to potential investors who we'd met through starting the mountain coworking space.

I learned these 5 things when buying our first business:

1. There are plenty of people who are willing to invest capital in exchange for your agreement to operate.

2. Investors will gladly look at deals. Don't be afraid to pitch.

3. If multiple investors express interest, you have some form of validation.

4. Investments can be structured as loan with interest, equity agreement, or mixture of both.

5. Sellers are willing to pay for a training trip to teach you the ins & outs of the business.

Number 5 is especially fun when the sellers happen to live in southern France.

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