Next Level 320: Buying a Small Business with Little Money Down with Tim Delaney
About this episode
Tim Delaney shares his experience of buying a small business with little money down and discusses the implications of retiring baby boomers on the market.
More than a decade ago, Tim Delaney bought his first small business, a fifty-year-old wine and liquor store in Buffalo, NY, with almost no experience and very little cash down. Today he owns that store and the plaza it sits in, and he helps other people do the same. In this episode, Tim joins Chris to break down exactly how he structured those two deals, including negotiating 90% seller financing down to a 4% interest rate, and how he used one business as leverage to fund a $120,000 roof replacement on the other. They also dig into why an estimated 5 to 10 million small businesses will change hands or close in the US over the next five years, and what that wave of retiring baby boomer owners means if you're looking to buy. Tim is the host of the Business Buying for Financial Independence podcast. Take his free Buyer's Profile quiz at powerofbiz.com/nextlevelincome. Get your free copy of How To Be Financially Free By Forty at nextlevelincome.com/financialfreedombook, or book a call with our team at meetings.hubspot.com/ccampbell28.
More episodes of The Next-Level Income Show
- Next Level 324: How Art Became a $60 Billion Asset Class with Maria Brito
- Next Level 323: Why Bigger Deals Are Easier to Buy and Run with Todd Dexheimer
- Next Level 322: The $10 Trillion Shift with Kris Benson
- Next Level 321: The Real Estate Cycle: Where We Are Right Now
- Next Level 319: How the Rich Invest differently than the Middle Class with Lane Kawaoka
- Next Level 318: Creating the Right Mindset, Structure and Support for Wealth Christina Suter
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