We Bought a Business That Pays Us $200k/Year (Here's How We Did It) (Part 2/2)
About this episode
Joy Owens shares her experiences and lessons learned after purchasing a travel agency, including client management and financial strategies.
#894 What happens after you buy the business — and what Joy wishes she knew before day one? In part 2 of this two-part episode, Joy Owens and host Brien Gearin dive into the post-purchase reality of running a multi-million dollar travel agency, including how Joy waited six months to notify clients of the ownership change (and lost virtually zero customers in the process), how she navigated her first busy season by hiring contractors, and why raising service fees right out of the gate was one of her smartest early moves. Joy also gets candid about the financial mistakes she didn't see coming — from miscalculating payroll taxes to missing quarterly estimated payments — and why converting to an S-corp and working with the right accountant changed everything. Plus, she shares the marketing struggles of running a niche B2B travel business, and closes with an encouraging message for anyone on the fence about buying their first business! What we discuss with Joy: + Waiting 6 months to notify clients + Zero customer churn after ownership swap + Hiring contractors for the busy season + Raising service fees immediately after purchase + Miscalculating payroll taxes and missing quarterly…
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