Wealth Engine Academy

09/30/2024

Just because you already have a business....

Most business owners don't think of buying a business as a way to scale.

Yet is is the perfect way to quickly scale most businesses.

Basically, you would buy a business that is 'the same as' or very similar to your current business.

So you're really buying the customers of the business you buy, and immediately you can cut out a lot of expenses. Viola - additional profit.

Combining businesses will increase the value of your business, the 'multiple' of net profit that others will ascribe to the value of your total business.

A business doing $200,000 a year in business might be work 1.5 to 2.5x, which is $300k to $500k in this instance.

However, a business, that same business, generating $800,000 in annual profit will be worth 4x to 6x.

So that first $200k in profit isn't worth only 1.5x to 2.5x aka $300k to $500k. Rather the multiple at $800,000 net profit is 4x to 6x, so that first $200k in earnings is now valued at $800k to $1.2M. More than double the previous valuation.

Simply by buying a few businesses and combining them and integrating them and getting them to run smoothly, you can make $millions.

So a business buying a business is THE key to fast growth and millions in short-term profits.

09/05/2024

What if I could show you a secret that isn't that secret?

You CAN buy a business making a net profit of $250,000 per year.

That's enough to pay you $10,000 a month and leave the business with sufficient cash flow for debt services and growth.

Then in 8 months to 12 months, you CAN buy another business.
Same deal - you pull out $10,000 per month.

Then in less than a year later, you buy another business.
Deja vu all over again - you pull out $10,000 per month.

RECAP
Within 30 t0 36 months, you own three businesses and are pulling out a total of $30,000 per month. $360,000 per year.

And, because I teach you how to be an owner instead of an operator, 'running' these three stores is a part-time job.

All this is possible, it is probable if you want to make it happen.

I teach this and I hold your hand while I work with you to find and buy a business -- with no risk.

Wealth Engine Academy - Business Buying Secrets

$10,000 for seven months with the option to continue for $997 per month. If after 12 months you haven't bought a business I will stick with you until you do for no extra charge.

Limited spaces.
HUGE LAUNCH AND MASTERMIND
Nov 6, 7, 8 in Las Vegas

Get on the waitlist below to get all the info.

09/04/2024

1994 - Before there was Internet in South Central Pennsylvania.
$50,000 to $230,000,000

I couldn't get Internet, so I started an Internet Service Provider.


I thought that the name The Pennsylvania Internet with that logo was cute. But in a few weeks, I realized that name was way too limiting for my vision. Changed the name to Supernet.

What happened next?

-- Couldn't hardly sell any accounts because people didn't know what the Internet was. Nobody wanted email because they didn't know anyone with email.

-- I wanted to start delivering high speed via DSL but that turned out to be problematic due to the stall tactics of the local phone company.

-- Borrowed more to keep going

-- Brought in a huge partner company - that local phone company

-- Put in place a great young President for the company

-- Company started growing due, in part, to public awareness

-- Supernet started buying up smaller ISPs, expanding.

-- Three years later, went public IPO

-- Dot com crash hurt the share price

-- Earthlink bought out all the shares for $230M*

Five years from starting on my folding table. Start to finish. Created huge value out of thin air.

Full credit goes to my great investors, partners and executives.

It 'twas a beautiful ride.

-Gregory

P.S. Our main tech guy, JB deserves so much credit. It was fun when the Chairman of our board handed him a surprise check upon sale, for $250,000! That was fun. He was six years out of university at the time and really appreciated the gesture.

* Oh, I had sold our before that $230M public company share purchase, so no, I didn't get any of that $230M. 😞

But really, it's the thrill that I loved the most. Knowing that what I started eventually provided hundreds of jobs that provided for hundreds of families.

And I still have my [email protected] email address. There are only thirteen such emails still in service.

The reality? Nobody really cares about any of this except me and a few guys and gals who worked with me back then. And you know way, that's ok.

09/02/2024

MBGA

Make Business Great Again

1. Make a decision to change your life. Improve your circumstances.

2. Adopt the mindset that success and wealth are possible - necessary - for you Those successful people you see are not more intelligent than you are -- but they do have a "can do" mindset. AND, the do believe they deserve better than "the system" offers them.

3. Imagine how wonderful it would be to have your own business that pays you $15,000 a month, and more. Much more.

4. Make that move and either DM me or get on my waitlist below.

BIG things are coming - things to help you.

You won't want to miss the event in November.

It will be withing your realm of possibility, and your life won't be the same after... it will put you on a trajectory of success and wealth accumulation.

It's about time, isn't it:

See below.
Gregory
Founder, Wealth Engine Academy

08/30/2024

"I want to earn $7,000 a month to start"

Glad you mentioned it.

Here is a plan that would work

Find a business that makes $13k/mo net profit, $156,000 a year,

Ecom or physical ... we won't decide that right now.

1. Find a business to buy $575k
$156,000/yr Net Profit will sell for 3X to 4X times
which indicates say, $575,000

2. Cash for Down Payment
$10,000 to $100,000 should do it. To raise the difficulty
level, let's say $100,000 is needed in this example.

3. Raise the $100,000, which isn't hard and, it's something I teach in the Wealth Engine Academy "Business Buying Secrets" as part of my signature $10,000 offer.
You can raise that from friends, family, acquaintances ... even fundraising sites.

4. Close on the business
The next morning, your profit is coming in at $13,000 per month.
Your payments to the seller and your investors might take up half, leaving you with about $6,500 per month

4. Use your energy and expertise to increase the sales of the business, social medial, promotions. perhaps TT shops, etc.

Your $7k a month will slowly increase while the business pays off the Seller.

You can do this. As soon as this business is stable and starts growing... then you repeat this.

No Money Down?? YES there are thousands of deals you can buy with no or almost no money down.

08/24/2024

rumor has it...

Saw this video clip on this tiktok guy's account

Check out createwithjoseph’s video.

08/22/2024

The Hard Truth about Financing a Business

Here's the deal.

Financing the purchase of a business isn't that much different than financing the purchase of a commercil property.

You have to show that the property/business has enough cash flow to repay the loan, with some extra.

In a commercial loan it isn't unusual to need to prove to the lender that the cash flow will surpass 1.2 times what is needed to make the payments.

Debt Service Coverage or Debt Service Ratio

That's the main thing.

Just like it is difficult to get a loan to buy vacant land, or a shopping center with 60% vacancy.... because the cash flow isn't there to repay the loan.

So part of the Due Diligence is to verify exactly what IS the the free cash flow, keeping in mind the payments required on the new loan.

Noy every business you look at will give you the ash flow you need to prove to the lender that they should lend you the money.

But many businesses DO qualify.

I teach you to find the fussiness and help you check out the numbers. Then we strategize on how tend where to find the money.

Peace & Love

08/20/2024

A Grease Business??

The Market
Commercial properties with food prep services are required to have a 'grease trap' installed between the establishment and the sewer system.

These must be cleaned our regularly.

STAERT A GREASE TRAP CLEANING BUSINESS??

You can charge approximately $225 to $400 for a cleaning and the small-er jobs take about 20 minutes; let's say 30 minutes. Let's say 60 minutes with travel time, etc. Although in some shopping centers, there is more than one grease trap.

THE BUSINESS
Equipment costs to get started total abut $55,000 to $85,000.

REVENUE
Four jobs a day = $1,000 a day.
$20,000 per month.
30% expenses yields $14,000 per month; approx $10k take home

Secret - you can sell the oil.

ADDITIONAL SERVICES - AND EXPANSION
Cleaning oven hoods, extractors. You're there anyway, so $75 to $150 additional is mostly profit.

These services are required, and, recurring.
That's what I like.

HOWEVER< there is no reason for a business to change service providers. So that means it's more of a challenge to grab customers.

BUY A GREASE TRAP CLEANING BUSINESS

An existing business has equipment and customers.
Yet they don't sell for high multiples - perhaps 1.3X net profit.

So you can buy a grease trap cleaning company for less than $200,000 with equipment.

Then build it up. No reason you can't service six jobs a day, increasing monthly revenue to $$30,000 a month.

Pay your employee well, perhaps a percentage of revenue as a bonus. Or a bonus based on some metric.

Sic months later, buy another.

Buy four and then you can resell for 2.5 times net profit.

Bam. $300,000 capital gains profit.

Or, why even sell at that point?

You will be taking home $20,000 a month after all expenses.

It's not a sexy business. But I think cash is what is sexy.

This is the type of business that is definitely better to buy than try to start.

I HELP U
This is what I do. I will help you find a business for sale - whatever type suits you. Then I will help you complete Due Diligence in every way, and help you negotiate a deal and find the financing.

My program is $10,000 to $48,000 but I guarantee you will have bought a cash-flowing business at the end of 12 months. And that business will pay you each month, month after month.

08/20/2024

YOUR CHANCE TO RATE ME

Well, my program offerings.
(I already know you love me)

How to Buy a Business Program

Which of my programs is most attractive and in what order?

Can you please help me?

A. $10,000 for six months weekly group calls plus one 1:1 onboarding call with me. Then $997 a month for more coaching, mentoring on all things related to business growth, and buying a business, financing the purchase of buying a business.

B. $48,000 ( $4,000 per month or $40,000 if paid in two payments)
Personalized, handholding and coaching to find the perfect business that suits you; guaranteed to help you buy a business or I stick with you until you do. Five calls per month, plus email access.

C. $3750 Full course with all the info you need to find and buy a business and grow that business like crazy.

D. $997 a month, six months minimum commitment. $8,000 for 12 months PIF.

Which appeals to you the most? In what order of preference?

Please write letters in order of preference. If you don't like an option, don't put that letter.

08/19/2024

MINDSET on buying a business is costing you MILLIONS.

Clients ask about buying a small business, and the reasons are

-- I thought I would start small

-- Where can I find a good business without risk

-- I'd like to make $100,000 a year

I UNDERSTAND

However, I need YOU to understand that the most risk is you underestimating what is possible. What is doable.

Unless a business has sales of close to $1M it is like to not generate enough net profit, and, a smaller business actually has more risk.

A business making say $250,000 a year in net profit

-- has a margin of error. So it profit were to dip a bit, to say, $200,000, you're still in business.

-- you need a high profit to be able to pay yourself a healthy amount AND to give you money to reinvest in growing the business.

THE BEST DEALS are the ones that sell for $1M to $5M because in this range, you are getting healthy profits and you aren't competing with The Big Guys.

So that is what is what we focus on to help you the best.

08/19/2024

"How and Where to Find Businesses to Buy"?

Here's an idea that works when seeking physical-location businesses for sale.

1. Select the geographic area

2. Search for recently-filed lawsuits or litigation. Courts publicly list lawsuits filed. Businesses in litigation may present an opportunity for you to step in.

3. Search for foreclosure actions .. a business owner in financial trouble may be tempted to just give up... you can jump in and take over for almost nothing down, and help the business owner and yourself at the same time.

4. Mail a letter, contact the business on social media. Let them know upfront that you are not a broker. If you are in the area, mention that fact. Anything you can mention that helps to make a connection, is good. Maybe mention what you like about the business.

5. Drop by in person and get to know the business, the employees and meet the owner.

08/03/2024

Did "they" Every Tell You the Difference? Part 1

It's not a boy - girl thing. Not this time.

Are you buying the BUSINESS?
or
Are you buying the COMPANY?

Big difference, but there is no one-word answer unless "it depends".

We say "Buy a business", but there are two main ways and we used 'business' to mean the operations, and we use "company" to refer to the legal entity that owns and operates the business.

Got it? Good.

Two options:

a) Buy the legal entity that owns the business operations. Let's say a 'cafe'. That way, you do buy the cafe, but you also buy the legal entity that owns and operates the cafe business.

b) Buy only the business operations. In many cases this is 'safer', because you don't automatically inherit or assume the liabilities of the legal entity. Less risk to you because you won't be liable for actions and events that occurred before you bought the business.

Examples might include an employee lawsuit against the company for unfair termination, or that lady who sued the company because the coffee was too hot. Or a supplier who claims a breach of contract.

To buy the "business" I normally suggest using an APA which stands for Asset Purchase Agreement. This Agreement makes it very clear which assets and which liabilities you are buying "out of" the Company (the legal entity owned by the Seller).

Maybe you buy "all the equipment and furniture" but the owners doesn't want to include the antique desk in the lobby that his grandparents brought over from Germany in 1897.

The Agreement might also not that you only pay for inventory that can be sold within 90 days, or, that the Seller only gets credit for A/R that is collected within the next 85 days.

In other words, it's sort of an agreement to "take this" but "not that". Cherry picking the assets and liabilities you will agree to take.

The Asset Purchase Agreement is THE main agreement to buy the business, so it's really important. The APA for the last deal I was is involved in was 67 pages. Most likely, the APA for buying a small business will be about 13 pages.

In the Wealth Engine Academy, I teach you all about the APA process and how to negotiate and what assets to insist upon, and what liabilities are safe to assume.

Join the waitlist below to reserve a free copy of my new book "Business Buying Secrets", to get on the newsletter list and, to receive reduced fees on my membership/course.

There we will go in-depth on how to find the right business, how to negotiate the best terms (price isn't always the most important factor), and, how to get the deal financed. Buying with no cash down out of pocket is also a possibility.