Invest Smarter

Buying a Business for Retirement Income with David Barnett

November 01, 2021 Season 1 Episode 52
Invest Smarter
Buying a Business for Retirement Income with David Barnett
Show Notes

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?

Connect with David

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Connect with David DeWitt

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