The number one thing entrepreneurs fail to realize about businesses is... A business is a reflection of a person. Unlike your typical 9-5 jobs, starting ones own business is like an artist painting on blank canvas. The entrepreneur has the power to create their vision/dream business. A business will emotionally, mentally, spiritually, and physically challenge a person no 9-5 job can offer. With challenge comes growth, and ALL entrepreneurs want better for themselves. Start a new chapter today... Thanks Nomad Capitalist!
Well not all. Many businesses are bought/merged purely in accounts and trends. To buy say a mining business you only need to verify the numbers and know the trends. You can hire specialist managers.
I do agree with you (power to create one's own vision and as an artist painting a canvas). This one of the things that I have felt what makes all the hard work of having your own business worth the hard work.
I remember the days when I started out.. folks $10,000 a month is VERY doable, don’t let anyone else tell you otherwise. I wholesale land in the US and made $128,000 in profit last month, record month. Good luck to everyone.
You can hire me and pay like 20-30% of it. I'll be happy to do so. I'm young, I can go anywhere you want me to have and I can wholesale half of the world if you want me to do that
You have to be VERY careful when buying a business. 1) They want out..why? I know what they will say but is it the truth? Have they seen an upcoming change? Is the competition getting tougher, flooded, etc. 2) They try and sell too high a price. 3) There are a lot scams. Make sure you do proper due dilligence. NEVER believe anything. Verify everything. 4) Business is dynamic. even more so online. What works today will not work in 12 months time. You can adapt. But you have to keep ahead of the curve.
@@marcinasia1731 Well, like everything it is not black and white. There are some VERY good deals to be had out there...but they are very few and far between. "if you can be ripped off...you probably will be" Buying a business gives the idea you can buy money...It rarely works out that way.
My Father, who could barely read and write, started with nothing but work ethic and eventually became a landscaper. He made $15,000 a month in the early 90s. My Mother was extremely intelligent and helped him run the business. Any one can do it. On has to: show up early ( on time doesn't count) be dependable, be honest, don't make foolish mistakes. Constantly be in expansion to overcome any retraction. Treat your employees fairly. There are other aspects but that's the basics. Let me know if I forgot anything key. There is lot's of work out there. I coach actors and singers and other creatives. There's a massive need for music and video editors globally, more work than you could do even if you hired a 100 people. BUT, only if you start the company, don't talk to me about someone hiring you.
Not sure what you're talking about the "massive need for music and video editors" when all I see are preset-premade things and people paying people peanuts for this service since anybody these days is calling themselves an audio engineer or musician. Every company I know of is purchasing music through a bank that they pay membership for and the composer/songwriter gets basically paid a couple of bucks on that. I don't know a single content creator, and now even media companies, directly paying for the creation of the music. I work for a public broadcaster, and even they are purchasing pre-made music through a subscription model. Only the kids TV shows OCCASIONALLY (maybe like twice a year) hire a songwriter. I have friends who work in sync, and yes, there is work for that but those are literally the only people in the business making considerable money and they're not even the ones making the music, they're the ones doing the middle-man work. Now, if you're talking about teaching courses online on how to do these things, then that's a good source of passive income. Now, for video editing, it's still worthwhile to work for someone that consistently hustle your way through 20/hr editing gigs for content creators who can barely afford you. So yeah, you can make good money, but you'll be working 80 hours a week on influencer videos. I'm talking about this from the perspective of Canada, maybe it's different in America.
I'd be super careful buying some of these types of businesses for well into six or seven figures due to their potentially lower shelf life. As another commenter mentioned: why are the sellers exiting in the first place? Unless you really understand the space/have the know-how to keep it relevant and fresh /adapt the model, you could easily find things going south long before you recoup your initial investment. It would perhaps be better to instead consider earlier stages with smaller revenue streams but with potential: costing way below the 100k mark to reduce the risk. Some sellers lose passion and/or just in need of some quick cash despite having done all the initial hard work to get the business off the ground. If foundations are in place from which you can inject your own knowledge and style, you are also less likely to inherit a whole host of problems.
That's why they have such low multiples / short payback periods. If the business is larger and has staff though, I think it is more viable than if one person is doing it all.
When I started my first company I was surprised at just how exhausting it was and how much I would learn to hate the IRS. In the end it was worth it but 2020, taxes and hitting my late 40's just drained the love of my businesses from me. I will do it all again, next time after moving abroad.
I’ve bought 2 online businesses like these and only because I know them very well, having built 2 of my own from scratch one 5 figures and one 4 figures a month and growing, mostly passive now. And even with my experience and being confident of the ones I was buying, I still missed things and had little nightmares optimising and growing them, you really gotta know what you’re getting into and it’s no way as easy as just buying and letting that cashflow come in, you have to put the work in and have a strategy to grow that business further, like the saying goes, if you’re not growing your dying, they aren’t as easy as they seem if you don’t know what you’re doing, but when you work it out and create a system, it is a nice passive income. Don’t get into it unless you 100% know the business, or you have someone that knows the business and will partner/advice you. That’s my 2 pence. Lastly, an online business is waaaaay less stress than a physical business. So between the two I’ll take the online businesses for now,
Amazon can arbitrarily decide to block your account, change listing fees, changing search engine algos etc. These businesses are much riskier than real estate.
Ya he makes it out like its a guaranteed revenue stream with little effort. If it was so great they would not be selling them so cheap after all the work they put into it. At least the home in Cali can be flipped for some profit. If you fail in this, you probably won't be able to get out of it with you're investment.
Can I ask what type of investment it required? Do you have any other specific information? I'm interested in pursuing something similar but finding solid information from which to start is not easy.
@@charlesberkeley6429 I purchased an online course and followed that. Yes, it takes work - it's a proper business. About $1500 per book cost - I've got 30 books published since 2019.
@@michaelleon7505 Prices - the urban writers or writing summit - upwork or fiverr for cover designers, formatting and editors. Or learn to do it yourself.
Thank you for sharing. I am finding your content very helpful. I like the fact you are talking about various businesses besides drop shipping. I am very interested in the nomad life.
GREAT and mind-opening topic to cover, thanks Andrew! This is an area that most investors etc. aren't very aware of- outside of stocks etc. the majority buy investment properties to rent out. Would you consider doing a deeper dive, including interviewing some SMEs and those who've had real-life good or bad experiences? Take care
Always great to learn about new and additional income producing ideas. Even though we've been free/semi retired since 35 and 37 yrs old, were always interested to improve.👍🥂
Wow! Thank you for opening up an avenue I had never considered before. Fantastic video! I’ve followed your channel for a while now and love all the great content you post, but this one might be one of my most favorite! Cheers from Vancouver where my boys can’t even afford a 400sq/ft shoebox!
I’m not even close to being “rich” by Western standards but I do have an online business that requires only a few hours of work 3-4 days a week and I can do it from anywhere in the world and I earn in Euros as well (and it helps others, which satisfies me) plus I have a South American (Mercosur) and an EU-passport so when living in South America I do feel “rich” since everything is so ridiculously cheap there when you earn in Euros. I almost feel guilty.
The currency in which your pay is denominated in is irrelevant so long as global purchasing power is commensurate. $2 USD of Venezuelan bolivars will trump 1 euro.
Great content Andrew! Thank you so much for giving such value. I have a question. Would you address the best countries for disabled wheelchair accessibly for people to relocate to in one of your videos please? Again thank you for the great content you are putting out and giving to others. I value your channel.
The wisest thing that should be on everyone's mind currently should be. To invest in different streams of income that doesn't depend on government, especially with the current economic crises around the world.
The problem is that most of us do not have that much to invest in business to begin with. However, what is even more important is that I would not believe in revenues that the businesses are claimed to bring in. If there are successful, why sell them? Although there could be a legitimate reason to sell them, such as the owner retiring, I would approach all of them with a grain of salt. If that was actually that easy, everybody who would have started their businesses would have succeeded. Statistis state otherwise.
1. That's what business loans are for. You don't have money for a house either, but you can get it. 2. There are people everyday who are selling legitimate businesses for personal reasons, health reasons, relationship reasons, want to move on to something else, etc. 3. Some peoples' whole business model is building up businesses and selling them for the multiplier. It's a good business model and you are getting a legitimate business. Meanwhile, some other peoples' businesses are buying businesses, fixing them up (like properties) and selling those. Or, you can just buy it and manage it and keep the cash flow like Andrew is suggesting. Bro, all you have to do to verify if they are legit is to do your due diligence. You see what the business is before you buy it, obviously. Go out and see what they are missing and what you can add. These aren't scams. Empire Flippers is a legit broker, I've added sites with them before. They don't just allow anyone on there. One of mine got denied once for trending down in sales. Sites that you probably don't want to buy are being sold for like $3000, because they make very little per month and it's not bringing in much for the owner. Those are on places like Flippa, where it's easy to list any old cheapie site that you build a couple months ago. I'm not on Flippa, but that's what I remember from them years ago.
Obviously, the necessary amount of due diligence is required. I'm quite happy with my monthly online income, so unsure why owners would want to sell - if run correctly very little time is required day to day. I wonder if boredom is a factor? The next shiny object?
@@rayfinkle9369 1. Right on point. I know a lot of businesses, such as local restaurants who have gotten loans from Small Business Bureau. Now, the doors are open. The payments are due, but noone is walking in. 2. This is exactly what I said in my statement above. 3. Totally agreed. However, "all you have to do" might not be adequate or enough when it comes to due dilligence. I have been in several situtions when due dilligence was done. As it turns out later, there was still something that I could not have anticipated before I actually dived into it. Often, it is nearly impossible to take into account absolutely all factors involved when some of them will only be presented later on when it is already too late. i am saying it as a small business owner myself with many years of experience. In businesses mentioned above, it is more than likely a person who will purchase it will be reading those novel romances himself and crying that it is late to take the step back.
There is however, a lot of risk in buying a small business. First of all is whether or not the business is being honestly represented. There are plenty of ways to misrepresent the real situation that are not technically lying. Another huge pitfall is very simple. Do you have the same abilities as the founder? It seems a lot of small businesses fall flat when sold due to this issue. A business I started and grew from birth seems like a lot better bet.
Andrew has motivated me to emigrate abroad and buy properties in some countries he suggested. I am very optimistic about making a killing in 5 to 10 years time. Thanks Andrew. God bless.
@@algae_rhythms don’t listen to this tripe!!! If Russia can invade Ukraine whose to say that another foreign country won’t be invaded. The only ones worth investing in are the ones that are already rich and have a well funded military. If you invest in a country that easy to invest in that country may not be around for to long to honor your ownership.
This is a great idea. Although, it’s not apples to apples . If 1.2 million is the price point, that’s 42k-240k on a 3.5-20% down payment on that property. If you do have 1.2 million to spend in cash , that’s 20 percent down on a 6 million dollar apartment complex somewhere . In my opinion, unless there’s a seller finance option the property makes more sense on a leveraging your capital point of view. None the less, great content as usual.
Thank you SO MUCH for this video. I’m not currently your ideal client, but I plan to be one day. I think this maybe be one way I can get there. Seriously thanks for the education on resources which I didn’t know existed.
❤❤❤ Andrew, I have learned so much with your channel, I’m so blessed to have found you. I’m an interpreter by trade in 2 to 4 years time I will have four languages aside from English, what kind of business would you recommend. And in the same time frame I would have about $25,000 or so to invest on an online business what can you recommend.
I’m curious if and what opportunities exist for people with no business background, on a much smaller scale for those just wanting to get their feet wet.
Thanks Great video!!! Very informative! You can also make a series of how to make $15,000 $5000 or $1000 a month with an online business or how to generate passive income.
The initial investment is too high, what if e.g. Amazon Kindle publishing platform just fizzles out in a couple of years? It may be making 30k today or historically, but no guarantee. Flippa promised turnkey businesses, and had WordPress sites making 80k revenue monthly, but in the fine print, it's because they were spending 60k/mo in running Google Ads and FB Ads. Once flipped, revenue could potentially dip or even go to zero, depending on how well you transitioned. Then your upfront investment got burned instantly. My point: better to start from scratch, and use just a fraction of that initial 200k or $1Million to scale up.
I started from zero and am happy after 2.5 years on KDP. Books still doing well - mainly business so not flash in the pan books. If you can put the hours and work in that’s great.
@@tinglestingles Has Apple destroying bedroom entrepreneurship by blocking Facebook ads and tracking (And Google following suit) affected your business on KDP?, if so then how? and do you think it could affect it in general?
Love the romance novel idea! But buyer beware. These are all a bit risky if you don’t know much about e-commerce, for example. I like the ideas here, though, and definitely better than buying real estate in LA.
Common sense tells me that women don't read books anymore. Just sayin' . They watch movies and videos. Is that really a healthy and expanding market? I smell a rat.
Thank you. You can read our blog posts here: nomadcapitalist.com/. We are glad to inform you that you have the unique opportunity to join the Best Offshore Conference - Nomad Capitalist Live 2022 - September 21-24 in the Mexico City: nomadcapitalist.com/live/
Alternative...you can easily make $10k+ per month selling covered call options on a $1 million portfolio of high quality stocks. Work a couple hours every two weeks. Live like a king in a city where $2k rent gets you a luxury apartment.
Not sure how to feel about this. I just can’t understand the business model of, say, pumping out a bazillion books that bring in any amount of worthwhile money. If it works for some people, awesome, but if I were to buy or start anything it’s something i’d need to believe in and something like that just doesn’t resonate with me much at all..
Same, I totally cannot see myself doing any of this. It amazes me that some people have the motivation to run basically any kind of business. It seems all they care about is the money, not really what is being produced.
@@xissburg It depends on your motivation - everyone is different. I sell business books to new managers - helping with skills that are not taught in college or business school. How to manage a new team? How to manage your first project? How to present a business to investors? That all motivates me.
@@tinglestingles Not at all knocking people to have a genuine passion to educate others and create quality content. But in my mind, in that situation you’re creating your own brand, not hiring ghost writers to pump out fiction, so there’s a difference there. I should add to my orig post that .. sure it’s about “believing” in something but its also just the bare minimum of understanding how the business works, where sales and demand are coming from, how to manage things, etc .. I’m sure we’ve all done it, you binge on youtube for passive income ideas and it’s all the same stuff that I just cannot figure out how or why it would work. Doesn’t give me the confidence to bother with any of them.
Putting 1mil usd into some online business seems risky!! What if something happens and you can't get your money back? There seems to be lots of scams for easy money with shady stock brokers who lure you into their fancy fund and you can lose them all. I would just put that money in some third world banks and get 7~10 percent interest APR!!
use some mock trading at the beginning, once you got an idea of how it works, switch to having small amounts of real money but I have to warn u it's pretty stressful and you better write a bot to do the trading for you also: don't buy these trading bot services they make money on you more than you make money on them, bc the pricings are insane!
I wouldn't throw a million bucks to buy an online business, it's way too risky. But with this kind of money you can invest in real estate and if done wisely also achieve $10k+ plus in profits, with much less hustle and risks. Even better if you can use a leverage, let's say buy 4 one million dollar houses with $250k down each.
I know empire flippers, there are lots of online businesses, but I am interested to know, if these businesses are making too much money, then why the owner is selling, I never understood this reason, I wish someone could explain me please.
Some people are great at starting things and once it’s built they frankly lose interest and are on to the next business to build. Others are great at managing a business once built. Others make a great supporting crew in someone’s business. It takes all types to make the world go round!
They could have other options that would pay them much more!!! They probably cook the books or hide losses with fancy accounting and see the end. I'd tread very carefully here.
Andrew, I saw a guy who lives in Serbia say not to open a business there because eventually you get visited by guys wanting protection money. To protect you from them of course. Your opinion: I would like to put a call center there and possibly warehouse for shipping as well. I just fund the business just enough to pay rent and payroll. Would this still be an issue? Thank you Sir.
Eventually the war in Ukraine is going to be over and the country will need to rebuild what I would like to do is to find ways to invest in Ukraine small businesses that need a partner with capital do you know of any way of doing that What I'm talking about is micro Investments that include ownership in the business
I sold an insurance agency book of business 5 years ago. I used a broker, and it went well. I had started the agency when I left my husband and needed a daytime job to support my kids (had been a bartender). Turns out I friggin hate sales. A month after my youngest graduated high school, I sold. So, there are reasons that people sell; they aren't all scams.
one thing to mention here is this are super risky investments. There is a reason why if you go to a bank they will not even finance those. Super easy to trick and super easy to fake sales, anything changes in the market and your money is gone!
Fastest growing economy In 2022 ahead of china despite high crude oil price if it was no war India was growing at 15% now 8% by IMf not any local agency Modi rocks my business is growing so fast I own 10 ice cream shops rice mill manufacturing of plastic products
no, don't spend serious money on a book publishing business. Authors are fickle, and so are earnings. You can nurture 20 authors who churn out books, and if you're lucky, in a few years one author will turn into a best-seller. Boom!, your finances look excellent, and now's a good time to sell your business! Because that author now has a name, and can now either self-publish (to make more money) or go to a better-paying publisher (who will spend on advertising, for better sales and better money). Bang!, down go your sales, and back to square one, if you're lucky.
The number one thing entrepreneurs fail to realize about businesses is... A business is a reflection of a person. Unlike your typical 9-5 jobs, starting ones own business is like an artist painting on blank canvas. The entrepreneur has the power to create their vision/dream business. A business will emotionally, mentally, spiritually, and physically challenge a person no 9-5 job can offer. With challenge comes growth, and ALL entrepreneurs want better for themselves. Start a new chapter today... Thanks Nomad Capitalist!
Very interesting. Thank you.
Well not all. Many businesses are bought/merged purely in accounts and trends. To buy say a mining business you only need to verify the numbers and know the trends. You can hire specialist managers.
I do agree with you (power to create one's own vision and as an artist painting a canvas). This one of the things that I have felt what makes all the hard work of having your own business worth the hard work.
Great analogy, i like to think your income is a reflection of you as a person , the more value you can bring the more your income can increase
You nailed it better than any words I could become up with! Thank you Nomad Capitalist!
I remember the days when I started out.. folks $10,000 a month is VERY doable, don’t let anyone else tell you otherwise. I wholesale land in the US and made $128,000 in profit last month, record month. Good luck to everyone.
You can hire me and pay like 20-30% of it. I'll be happy to do so. I'm young, I can go anywhere you want me to have and I can wholesale half of the world if you want me to do that
@@multa7053 you will need a better pitch than that
@@dimitrivancamp1013 This is CZcams, what did you expect?
@@multa7053 Stay home with mommy. You still dont get it.
How many people watch this channel, even though you are definitely not the target = you are not rich?
me because we need people to inspire us and focus to get to that destination and Andrew's content is one of them :)
Me because I like the global perspective
Me too because i too like gainong global perspective. And i find this knowledge to be very intimidating and overwhelming. Totally my cup of tea
Me I plan to live globally when I retire
Me. Mid 5 figure income and networth lol
You have to be VERY careful when buying a business.
1) They want out..why? I know what they will say but is it the truth? Have they seen an upcoming change? Is the competition getting tougher, flooded, etc.
2) They try and sell too high a price.
3) There are a lot scams. Make sure you do proper due dilligence. NEVER believe anything. Verify everything.
4) Business is dynamic. even more so online. What works today will not work in 12 months time. You can adapt. But you have to keep ahead of the curve.
True. Its also a good way to launder money.
Good advice. Thanks! Saved comment!
everyone needs to read your reply !!!! as daddy used to say if it sounds to good to be true.... more true theses days... marc
Very true!!
@@marcinasia1731 Well, like everything it is not black and white. There are some VERY good deals to be had out there...but they are very few and far between.
"if you can be ripped off...you probably will be"
Buying a business gives the idea you can buy money...It rarely works out that way.
My Father, who could barely read and write, started with nothing but work ethic and eventually became a landscaper. He made $15,000 a month in the early 90s. My Mother was extremely intelligent and helped him run the business. Any one can do it. On has to: show up early ( on time doesn't count) be dependable, be honest, don't make foolish mistakes. Constantly be in expansion to overcome any retraction. Treat your employees fairly. There are other aspects but that's the basics. Let me know if I forgot anything key. There is lot's of work out there. I coach actors and singers and other creatives. There's a massive need for music and video editors globally, more work than you could do even if you hired a 100 people. BUT, only if you start the company, don't talk to me about someone hiring you.
Not sure what you're talking about the "massive need for music and video editors" when all I see are preset-premade things and people paying people peanuts for this service since anybody these days is calling themselves an audio engineer or musician. Every company I know of is purchasing music through a bank that they pay membership for and the composer/songwriter gets basically paid a couple of bucks on that. I don't know a single content creator, and now even media companies, directly paying for the creation of the music. I work for a public broadcaster, and even they are purchasing pre-made music through a subscription model. Only the kids TV shows OCCASIONALLY (maybe like twice a year) hire a songwriter.
I have friends who work in sync, and yes, there is work for that but those are literally the only people in the business making considerable money and they're not even the ones making the music, they're the ones doing the middle-man work. Now, if you're talking about teaching courses online on how to do these things, then that's a good source of passive income.
Now, for video editing, it's still worthwhile to work for someone that consistently hustle your way through 20/hr editing gigs for content creators who can barely afford you. So yeah, you can make good money, but you'll be working 80 hours a week on influencer videos. I'm talking about this from the perspective of Canada, maybe it's different in America.
I'd be super careful buying some of these types of businesses for well into six or seven figures due to their potentially lower shelf life. As another commenter mentioned: why are the sellers exiting in the first place? Unless you really understand the space/have the know-how to keep it relevant and fresh /adapt the model, you could easily find things going south long before you recoup your initial investment. It would perhaps be better to instead consider earlier stages with smaller revenue streams but with potential: costing way below the 100k mark to reduce the risk. Some sellers lose passion and/or just in need of some quick cash despite having done all the initial hard work to get the business off the ground. If foundations are in place from which you can inject your own knowledge and style, you are also less likely to inherit a whole host of problems.
That's why they have such low multiples / short payback periods. If the business is larger and has staff though, I think it is more viable than if one person is doing it all.
Starting a small business is an excellent path to financial freedom. However, nothing comes easy, the task will require work.
When I started my first company I was surprised at just how exhausting it was and how much I would learn to hate the IRS. In the end it was worth it but 2020, taxes and hitting my late 40's just drained the love of my businesses from me. I will do it all again, next time after moving abroad.
Best to start a business in a field you understand well. Get a job in that business, learn about it, then set up on your own.
I’ve bought 2 online businesses like these and only because I know them very well, having built 2 of my own from scratch one 5 figures and one 4 figures a month and growing, mostly passive now. And even with my experience and being confident of the ones I was buying, I still missed things and had little nightmares optimising and growing them, you really gotta know what you’re getting into and it’s no way as easy as just buying and letting that cashflow come in, you have to put the work in and have a strategy to grow that business further, like the saying goes, if you’re not growing your dying, they aren’t as easy as they seem if you don’t know what you’re doing, but when you work it out and create a system, it is a nice passive income. Don’t get into it unless you 100% know the business, or you have someone that knows the business and will partner/advice you. That’s my 2 pence.
Lastly, an online business is waaaaay less stress than a physical business. So between the two I’ll take the online businesses for now,
Amazon can arbitrarily decide to block your account, change listing fees, changing search engine algos etc. These businesses are much riskier than real estate.
where did you buy the two online businesses? Was it an Amazon Merch business?
which niche?
Ya he makes it out like its a guaranteed revenue stream with little effort. If it was so great they would not be selling them so cheap after all the work they put into it. At least the home in Cali can be flipped for some profit. If you fail in this, you probably won't be able to get out of it with you're investment.
Were would I look for online business like these ??
Agreed, I started a non-fiction book business in 2019, now living in Portugal - generating low five figures per month. Absolutely works.
Can I ask what type of investment it required? Do you have any other specific information? I'm interested in pursuing something similar but finding solid information from which to start is not easy.
@@charlesberkeley6429 I purchased an online course and followed that. Yes, it takes work - it's a proper business. About $1500 per book cost - I've got 30 books published since 2019.
Hi , where can I get some information on cost etc. ? Thank you
@@michaelleon7505 Prices - the urban writers or writing summit - upwork or fiverr for cover designers, formatting and editors. Or learn to do it yourself.
@@tinglestingles Thanks for the info. It is appreciated. Would you mind if I sent you a private message at your inquiry email to get more specifics?
Thank you for sharing. I am finding your content very helpful. I like the fact you are talking about various businesses besides drop shipping. I am very interested in the nomad life.
Really like this type of content. keep it up
GREAT and mind-opening topic to cover, thanks Andrew! This is an area that most investors etc. aren't very aware of- outside of stocks etc. the majority buy investment properties to rent out. Would you consider doing a deeper dive, including interviewing some SMEs and those who've had real-life good or bad experiences? Take care
Always great to learn about new and additional income producing ideas. Even though we've been free/semi retired since 35 and 37 yrs old, were always interested to improve.👍🥂
Wow! Thank you for opening up an avenue I had never considered before. Fantastic video! I’ve followed your channel for a while now and love all the great content you post, but this one might be one of my most favorite! Cheers from Vancouver where my boys can’t even afford a 400sq/ft shoebox!
I like these videos where there's concrete examples. Helps form a reference in the mind
None. These are cookie cutter stuff that have 0.01 percent succes rates.
Good information. To be financially secure. What are you willing to sacrifice ?
Money should work for you.
No excuses.
That is new to me! Very cool premise. Thanks.
Thank you for the information.
I’m not even close to being “rich” by Western standards but I do have an online business that requires only a few hours of work 3-4 days a week and I can do it from anywhere in the world and I earn in Euros as well (and it helps others, which satisfies me) plus I have a South American (Mercosur) and an EU-passport so when living in South America I do feel “rich” since everything is so ridiculously cheap there when you earn in Euros. I almost feel guilty.
The currency in which your pay is denominated in is irrelevant so long as global purchasing power is commensurate.
$2 USD of Venezuelan bolivars will trump 1 euro.
@@andrewpeters8357 I’m talking about taking cab rides everywhere for 1 or 2 Euros which in The Netherlands would cost me 30 Euros or more
Bro can you help me to start my own business? I'll work for you for free.
@@Gibberish1983 it’s more so the prices are just cheaper as opposed to your euro having huge purchasing power.
@@marekan1410 Thank you
Finally this is what I was looking for thank you!
Always Great Info! Thank You from Crazy SoCal.🇺🇸
Great content Andrew! Thank you so much for giving such value. I have a question. Would you address the best countries for disabled wheelchair accessibly for people to relocate to in one of your videos please?
Again thank you for the great content you are putting out and giving to others. I value your channel.
Great episode. Keep it up.
The wisest thing that should be on everyone's mind currently should be. To invest in different streams of income that doesn't depend on government, especially with the current economic crises around the world.
The problem is that most of us do not have that much to invest in business to begin with. However, what is even more important is that I would not believe in revenues that the businesses are claimed to bring in. If there are successful, why sell them? Although there could be a legitimate reason to sell them, such as the owner retiring, I would approach all of them with a grain of salt. If that was actually that easy, everybody who would have started their businesses would have succeeded. Statistis state otherwise.
1. That's what business loans are for. You don't have money for a house either, but you can get it.
2. There are people everyday who are selling legitimate businesses for personal reasons, health reasons, relationship reasons, want to move on to something else, etc.
3. Some peoples' whole business model is building up businesses and selling them for the multiplier. It's a good business model and you are getting a legitimate business. Meanwhile, some other peoples' businesses are buying businesses, fixing them up (like properties) and selling those. Or, you can just buy it and manage it and keep the cash flow like Andrew is suggesting.
Bro, all you have to do to verify if they are legit is to do your due diligence. You see what the business is before you buy it, obviously. Go out and see what they are missing and what you can add. These aren't scams. Empire Flippers is a legit broker, I've added sites with them before. They don't just allow anyone on there. One of mine got denied once for trending down in sales. Sites that you probably don't want to buy are being sold for like $3000, because they make very little per month and it's not bringing in much for the owner. Those are on places like Flippa, where it's easy to list any old cheapie site that you build a couple months ago. I'm not on Flippa, but that's what I remember from them years ago.
Obviously, the necessary amount of due diligence is required. I'm quite happy with my monthly online income, so unsure why owners would want to sell - if run correctly very little time is required day to day. I wonder if boredom is a factor? The next shiny object?
@@rayfinkle9369 1. Right on point. I know a lot of businesses, such as local restaurants who have gotten loans from Small Business Bureau. Now, the doors are open. The payments are due, but noone is walking in.
2. This is exactly what I said in my statement above.
3. Totally agreed.
However, "all you have to do" might not be adequate or enough when it comes to due dilligence. I have been in several situtions when due dilligence was done. As it turns out later, there was still something that I could not have anticipated before I actually dived into it. Often, it is nearly impossible to take into account absolutely all factors involved when some of them will only be presented later on when it is already too late. i am saying it as a small business owner myself with many years of experience. In businesses mentioned above, it is more than likely a person who will purchase it will be reading those novel romances himself and crying that it is late to take the step back.
Also, 10,000$+ per month in revenue does not mean 10,000$+ per month in profit.
There is however, a lot of risk in buying a small business. First of all is whether or not the business is being honestly represented. There are plenty of ways to misrepresent the real situation that are not technically lying. Another huge pitfall is very simple. Do you have the same abilities as the founder? It seems a lot of small businesses fall flat when sold due to this issue. A business I started and grew from birth seems like a lot better bet.
Andrew has motivated me to emigrate abroad and buy properties in some countries he suggested. I am very optimistic about making a killing in 5 to 10 years time. Thanks Andrew. God bless.
Which countries?
@@algae_rhythms don’t listen to this tripe!!! If Russia can invade Ukraine whose to say that another foreign country won’t be invaded. The only ones worth investing in are the ones that are already rich and have a well funded military. If you invest in a country that easy to invest in that country may not be around for to long to honor your ownership.
@@jamesbaxter222 imagine invest in ukraine 5 years ago for a property and then they just bomb your house to rubble
Dream on dude.
Andrew, Excellent Content! Thank you & well done.
Thank you.
Brilliant Andrew!
Thanks Mr. Henderson! Good job 👍🏾
You are very welcome.
Genius video. Loved it. Tremendously valuable.
Thank you.
I have to wonder why anyone would be selling businesses with these growth rates and margins.
excellent analysis
This is a great idea. Although, it’s not apples to apples . If 1.2 million is the price point, that’s 42k-240k on a 3.5-20% down payment on that property. If you do have 1.2 million to spend in cash , that’s 20 percent down on a 6 million dollar apartment complex somewhere . In my opinion, unless there’s a seller finance option the property makes more sense on a leveraging your capital point of view. None the less, great content as usual.
Thank you SO MUCH for this video. I’m not currently your ideal client, but I plan to be one day. I think this maybe be one way I can get there. Seriously thanks for the education on resources which I didn’t know existed.
You are so welcome!
Great Idea for businesses
this is a great channel and worth watching and SUBBING ... thanks for the share :)~~~
Thank you, Yasin.
My question on these is always the same. If its so easy to run and make money from, why are you selling it?
Exactly!
I have a brick and mortar health and fitness business and am interested in adding an online component. Any recommendations would be much appreciated.
❤❤❤ Andrew, I have learned so much with your channel, I’m so blessed to have found you. I’m an interpreter by trade in 2 to 4 years time I will have four languages aside from English, what kind of business would you recommend. And in the same time frame I would have about $25,000 or so to invest on an online business what can you recommend.
What are best countries to setup e-commerce company (dropping model)?
Very helpful information!
Glad to hear that.
Thanks Andrew. I wonder how hard it would be to start a business - assuming you have the expertise to do so - instead of buying one for 24x cash flow?
Thanks for this channel. what to start with a modest 25k€?
Would love to know your opinion on the S&P500 and if you invest on it.
Wish I had “a little house in Santa Monica” worth of surplus cash that I didn’t know what to do with. Nice problem to have.
I’m curious if and what opportunities exist for people with no business background, on a much smaller scale for those just wanting to get their feet wet.
Thanks Great video!!! Very informative! You can also make a series of how to make $15,000 $5000 or $1000 a month with an online business or how to generate passive income.
Hilarious just as im looking for these online businesse's you release this video!
The initial investment is too high, what if e.g. Amazon Kindle publishing platform just fizzles out in a couple of years? It may be making 30k today or historically, but no guarantee. Flippa promised turnkey businesses, and had WordPress sites making 80k revenue monthly, but in the fine print, it's because they were spending 60k/mo in running Google Ads and FB Ads. Once flipped, revenue could potentially dip or even go to zero, depending on how well you transitioned. Then your upfront investment got burned instantly. My point: better to start from scratch, and use just a fraction of that initial 200k or $1Million to scale up.
I started from zero and am happy after 2.5 years on KDP. Books still doing well - mainly business so not flash in the pan books. If you can put the hours and work in that’s great.
@@tinglestingles Has Apple destroying bedroom entrepreneurship by blocking Facebook ads and tracking (And Google following suit) affected your business on KDP?, if so then how? and do you think it could affect it in general?
@@tentimetex only pay for AMZ ads and have built a brand with own audience.
@@tinglestingles hy do you want to advertise your product in South Africa we have big marketing company with successful customer experience
Awesome content! Can you talk through the process of moving the business offshore?
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That will cost you $20K in legal and accountancy fees - and the same on the other end when you arrive.
Good one.:)
Love the romance novel idea! But buyer beware. These are all a bit risky if you don’t know much about e-commerce, for example. I like the ideas here, though, and definitely better than buying real estate in LA.
Common sense tells me that women don't read books anymore. Just sayin' . They watch movies and videos. Is that really a healthy and expanding market? I smell a rat.
good stuff
Andrew to the rescue! I like the change up in content sir!
Very interesting content - haven't seen this anywhere else.
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Thank you very much for this. As a slave employee of Canada this seems like my ticket out
Inspiring intelligent professional
Thank you.
Looking forward to working with you Andrew
We will be happy to serve you.
Cool episode
Thanks.
Alternative...you can easily make $10k+ per month selling covered call options on a $1 million portfolio of high quality stocks. Work a couple hours every two weeks. Live like a king in a city where $2k rent gets you a luxury apartment.
Step 1: Have money
Step 2: Don't be poor
Step 3: Profit
😅
😂😂😂
Can you do a video on living in Kenya?
Not sure how to feel about this. I just can’t understand the business model of, say, pumping out a bazillion books that bring in any amount of worthwhile money. If it works for some people, awesome, but if I were to buy or start anything it’s something i’d need to believe in and something like that just doesn’t resonate with me much at all..
Same, I totally cannot see myself doing any of this. It amazes me that some people have the motivation to run basically any kind of business. It seems all they care about is the money, not really what is being produced.
@@xissburg It depends on your motivation - everyone is different. I sell business books to new managers - helping with skills that are not taught in college or business school. How to manage a new team? How to manage your first project? How to present a business to investors? That all motivates me.
@@tinglestingles Not at all knocking people to have a genuine passion to educate others and create quality content. But in my mind, in that situation you’re creating your own brand, not hiring ghost writers to pump out fiction, so there’s a difference there.
I should add to my orig post that .. sure it’s about “believing” in something but its also just the bare minimum of understanding how the business works, where sales and demand are coming from, how to manage things, etc .. I’m sure we’ve all done it, you binge on youtube for passive income ideas and it’s all the same stuff that I just cannot figure out how or why it would work. Doesn’t give me the confidence to bother with any of them.
I really like your jacket's color (don't know how it is called in english) where can i find the same if i may ask?
www.martelo.co/
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@@nomadcapitalist thank you very much both for all your free content and for taking the time to answer me.
Putting 1mil usd into some online business seems risky!! What if something happens and you can't get your money back? There seems to be lots of scams for
easy money with shady stock brokers who lure you into their fancy fund and you can lose them all.
I would just put that money in some third world banks and get 7~10 percent interest APR!!
This is exactly What I want make 8K a month online so I can go back to my country
How about day trading ? How do I get into that ? I am hungry for success .
use some mock trading at the beginning, once you got an idea of how it works, switch to having small amounts of real money
but I have to warn u it's pretty stressful and you better write a bot to do the trading for you
also: don't buy these trading bot services they make money on you more than you make money on them, bc the pricings are insane!
@@pladimir_vutin Awesome and thanks for the info.
“My public school math” 😆
I make 12k a month at my day job.
I wouldn't throw a million bucks to buy an online business, it's way too risky. But with this kind of money you can invest in real estate and if done wisely also achieve $10k+ plus in profits, with much less hustle and risks. Even better if you can use a leverage, let's say buy 4 one million dollar houses with $250k down each.
Hit the thumbs up!
Opportunities are self limited?
Hell I don’t wanna be a client I want a job working for you guys!
Ty 😇🌈🦋🏖💌🌺💚
cool suit
You can make more driving a tractor trailer across the USA
Yeah, I have been looking at dinky little properties in Vancouver lately - crazy !
If these businesses are viable, why are they being sold off?
Lacrou!
I know empire flippers, there are lots of online businesses, but I am interested to know, if these businesses are making too much money, then why the owner is selling, I never understood this reason, I wish someone could explain me please.
good question...why would you sell??
@@nucemgd if the business bringing me great income consistently, why would I sell?
Maybe they want to retire, or are tired of the responsibility of running it, it isn't all bad
Just sold one of my businesses, just got older and didn't need all the management stress anymore. At 40 no problem, at 60 your mindset changes.
Some people are great at starting things and once it’s built they frankly lose interest and are on to the next business to build. Others are great at managing a business once built. Others make a great supporting crew in someone’s business. It takes all types to make the world go round!
Yeah sure
“Hope and believe that prices in California will go up?”
Andrew, they have. California real estate has done nothing but go up.
Why would anyone sell a business for 2x annual profit? If I were the owner, I would not dump a 50% p.a. operation.
They could have other options that would pay them much more!!!
They probably cook the books or hide losses with fancy accounting and see the end. I'd tread very carefully here.
Andrew, I saw a guy who lives in Serbia say not to open a business there because eventually you get visited by guys wanting protection money. To protect you from them of course. Your opinion: I would like to put a call center there and possibly warehouse for shipping as well. I just fund the business just enough to pay rent and payroll. Would this still be an issue? Thank you Sir.
Bro, online business. No one can walk into an online business
@@heikorudi6105 You need a physical warehouse, generally. They find ways.
Eventually the war in Ukraine is going to be over and the country will need to rebuild what I would like to do is to find ways to invest in Ukraine small businesses that need a partner with capital do you know of any way of doing that
What I'm talking about is micro Investments that include ownership in the business
Smart idea
Do research buy stocks that support international markets also helps to build global business and economy
dont forget that businesss is more risky you can make it all or lose it all if profits drop
AT last, a different content, this one is excellent... in the past year, so much redundancy in your videos, now, you Talk !!
I'm so early
Hi, fun entertainment , once I make 1000 usd I will think about this
Shout out Adelaide 💪🤣
has anyone had dealt with these brokerages and sold a business or bought one ?
Generally you will pay top price for a business. Best to get an idea what businesses are making money and see if you can copy it
I sold an insurance agency book of business 5 years ago. I used a broker, and it went well. I had started the agency when I left my husband and needed a daytime job to support my kids (had been a bartender). Turns out I friggin hate sales. A month after my youngest graduated high school, I sold. So, there are reasons that people sell; they aren't all scams.
650,000 yoga instructors in the US? 1 yoga instructor for every 510 people.
one thing to mention here is this are super risky investments. There is a reason why if you go to a bank they will not even finance those. Super easy to trick and super easy to fake sales, anything changes in the market and your money is gone!
Real estate? Why does this feel like June 2007?
Can you make video on economy situation of India???
Not bad
Fastest growing economy In 2022 ahead of china despite high crude oil price if it was no war India was growing at 15% now 8% by IMf not any local agency Modi rocks my business is growing so fast I own 10 ice cream shops rice mill manufacturing of plastic products
All good. Until your affiliate site gets smoked by a google update.
How to make $10,000 per month? Start with $1.25m
Andrew, why are these people selling these businesses?
have a look at empire flippers.
no, don't spend serious money on a book publishing business.
Authors are fickle, and so are earnings. You can nurture 20 authors who churn out books, and if you're lucky, in a few years one author will turn into a best-seller. Boom!, your finances look excellent, and now's a good time to sell your business!
Because that author now has a name, and can now either self-publish (to make more money) or go to a better-paying publisher (who will spend on advertising, for better sales and better money). Bang!, down go your sales, and back to square one, if you're lucky.
If these are such great businesses, why are they for sale?