| If you'd like to be "set for life" as the owner of a | | | | bring an investor in, as opposed to all the other |
| multi-million dollar business -- sitting back and | | | | types of financing, it's a lot easier way to go. |
| collecting a six-figure salary while other people | | | | The other thing with an investor is most of them |
| (who have several years of business experience) | | | | will ride with you for four or five years. In other |
| "run" everything for you -- then this article will | | | | words, if you show them what their share of the |
| show you how. | | | | profits are going to be for four or five years, |
| Listen to this: I've bought over 200 businesses in | | | | many of these investors do not ask you to pay |
| the past 40 years. In the first 25 of those years, | | | | a return every month or every quarter, which |
| I got owner financing. I got bank financing. I had | | | | means you have all the cash available in the |
| vendor financing. I did all sorts of things. But, what | | | | business for a four or five year period to expand |
| happened was, I didn't realize there was investor | | | | it. It's really a fantastic way to go, but I want to |
| financing. I actually discovered this on complete | | | | tell you for the first 25 years, it never dawned on |
| accident because I needed financing to buy a | | | | me because I didn't know how to find investors. |
| business in Mexico. | | | | But now, that's what I use almost exclusively. |
| You see, nobody was going to finance anything in | | | | And I find it's not only cheaper (almost free), but |
| Mexico. Even today, they won't. So, I had to go | | | | it allows me to buy more businesses and have |
| back to the investors we had and talk to them. I | | | | less work. Reason why is because investors will |
| didn't even realize they would do something like | | | | only put up money for businesses worth a million |
| this. So I just sort of lucked into this. | | | | dollars or more, with an experienced management |
| And now, for the last 25 years, we have never | | | | team already in place. Which means, if you show |
| gone to the bank other than for a line of credit. | | | | up, you're almost in the way. The management |
| We don't ask for owner financing. We pay 100% | | | | team you're paying doesn't want you there |
| cash on the deal which means the seller gives us | | | | mucking things up. They would rather you be out |
| a better price than a small cash price. We don't | | | | playing golf or something. |
| have to qualify. We don't have to give our | | | | It's a great way -- the only way -- to do business. |
| financial statements. We don't have to do | | | | If you want to pull your hair out buying sandwich |
| anything. In fact, the average seller will tell you | | | | franchises and "mom and pop" donut shops, that's |
| they don't care who you are or what you are if | | | | your choice. |
| you give them all cash. So what happens is, if you | | | | |