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From the few businesse possibilties that I have looked into I definitely get the feeling that no one can really define:
A) Actual gross sales and Net profit
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Tax returns provide this. At least 3 years. And they need to be reviewed, do not just take them for fact.
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B) Where in the growth cycle that business model is at that time
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Peak or downswing; that is why it's for sale.
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One thing I seem to have realized is I have no interest in:
A) Franchises
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Some are just a 'job' some offer equity growth. Lots of people out there getting rich with franchises. They are proven concepts (more or less) and you have a great point of reference. People go to franchises because they are comfortable. It's why they eat at *****ty places like Olive Garden. It's why they call big name real estate co's. Lots of b.s. in the franchise racket however.
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B) Any business resturant related
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Linen svcs, food distribution, trash svcs, etc. Lots of good opportunities in the service world. Agree on keeping your money away from non-franchise restaurants however. Classic way to make a small fortune out of a big one.
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C) Any business that requires highly skiled blue-collar workers = ( small pool of potential qualified people to draw from)
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Sounds smart to me!