Hello!
I have made some additional progress this week in searching for potential businesses to try to buy, but I am certainly realizing how long this process could take given that I can only dedicate a bit of time each week to the search process. I now better understand why people use the search fund model and drop everything and search for a business full time, because without that sense of urgency I can see the difficulty in closing on a deal.
If you aren’t familiar with the search fund model, it is pretty interesting. I wrote about it here - How to Start a Search Fund.
In my search the last couple of weeks I have found a couple of Youtube Channels that I would love to own. The channels are highly relevant and complementary to our work at ProjectionHub, have a large subscriber base, and in one case it looks like the owner has stopped producing new content. For me, the channel would be an abandoned gold mine of relevant subscribers who would be interested in new content that we could produce.
I tried to reach out a couple of times in different ways and haven’t heard anything back yet. This seems like it will be the common trend - no response.
I thought that finding these seemingly abandoned, but still generating a ton of traffic, websites and Youtube channels would be a good opportunity to find target acquisitions, but I think the downside is if the owner has checked out, they are going to be really hard to get ahold of.
Any ideas on how to get ahold of these owners (preferably ideas that won’t cause me to get a restraining order ha!)
This week we have another tool ready to share with you as well. Any subscriber to the SMBuyer newsletter gets free access to our tool that allows you to pull financial ratios for just about any industry. We built this tool using publicly available IRS tax return data, and I have found it incredibly useful when trying to determine if a business is performing well based on its industry.
Check it out: Unlocked tool for subscribers here
Video demo here:
Until next week,
Adam
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Follow Adam's acquisition journey and learn how to buy a business the smbuyer way.
Do you have any good niche business stories that have been crushing it because they offer a very niche service?
Does this seem like it could provide value and fill a gap that doesn’t already exist in the market, or am I just drinking my own Kool Aid here?
I will always remember walking into my 11th grade math class and the white board just said “Ass U Me.”