A longtime friend wants to sell me his local biz. 12 years in the running. 950k revenue last year, 325k net profit. 2024 was 75K more profit than 2023, which is great. IF I did the same numbers as him, I'd be around 200-225 net due to loan repayments (since I'd be financing the buyout). They have been on an upward trend, so it could be more. I would definitely work to grow the business, which they haven't really done much of that since the location is prime.

This is very tempting, as this is more money than I've ever made, and I love his business. They made it through covid with the PPP loan program. Their numbers even went up during the Biden admin.

With our guy running the show, I'm feeling even better about this. Though, it is scary... I have to personally guarantee the space lease, at 7K a month for a minimum of 5 years. I have to personally guarantee the SBA business loan, and put my house up as collateral. These are things that most business owners have to do. Scary stuff. But, odds are that I'm going to win. I'm not a gambler, but I am a calculated risk taker.

Would YOU do something like this? Or do you think the sh*t is going to hit the fan and we're going to have some rough times that are going to collapse businesses that survived covid?

Thanks for your feedback, Pedes!