I was reading about this post on Crunchbase and I thought it was pretty interesting. As someone's who's been thinking of starting a company for a while, I've tried a lot of different approaches but nothing has really hit yet (I'm still trying!).
This week I read this story about two guys who were entrepreneurs, but now they buy companies (specifically technology companies?).
They basically found a company that had been operating for a long time with revenue but was not profitable, and they bought it and made it profitable from day 1 (you can read their article here). This seems super cool for someone like me who wants to run a company but doesn't know what to start.
This has me thinking…
Maybe I should look to buy a company that already has a product and customers?
Here are my questions for the community:
- Has anyone here considered this?
- Has anyone tried it before?
- What has been your experience?
- What are some things I should consider? Any types of businesses I should think of?
- What are some good sources of funding? Are SBA loans an option here?