How to Buy a Business Part 2: How to Find & Evaluate Deals

Come ask any and all questions related to laundromats, small business acquisition, and acquisition financing at my Office Hours. calendly.com/k...
For a one-on-one discussion on laundromat acquisitions and operations, schedule a consultation with me. keirahamilton....
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[@liamvonelbe3280]

Really really loving all your videos!! So easy to understand and a lot of valuable information. I live in Nashville, TN working in the music industry but very eager and interested in business acquisition (mostly laundromats at the moment).
As you know, Nashville is an expensive and competitive market right now. I'm originally from Upstate, NY and considering buying a business back home. It's a lot cheaper and I have more resources since my mom is a small business owner running a barbershop and knows a lot of people.
Do you know anyone who successfully runs a small business like laundromats while living in another state?
Thanks again for all your videos!! :)

[@Keira_Hamilton]

Thank you so much for the feedback! I'm glad you are finding the videos helpful!
I don't believe I personally know someone who's running a business from another state, although I know people do it.
I would be hesitant about this approach especially for a first time acquisition. For one thing, it can be a lot harder to get financing as lenders tend to want to see the owner has easy access to the business.
Even if you don't need financing, I would think through carefully how you plan to deal with day to day problems. I could see it working if you have a family member or another trusted individual in the area who could manage the place for you.
Let me know if you have any other questions!