Beyond the Startup Buzz: The Allure of Traditional Businesses

What They Don't Tell You About Entrepreneurship: The Hidden Gems of Acquiring Traditional Businesses...

It’s funny when you look back at your journey, you can begin to connect the dots on things that shaped your views of what “success” should look like. I remember seeing TechCrunch articles weekly with images of people jumping in confetti and being praised for completing another round of funding. It wasn’t until I watched Channel 4’s  The Money Maker, that I came to the realisation that operating a venture backed startup, wasn’t a life I aspired to have. We’ve all heard that 90% of businesses fail, in fact the UK National statistics highlights that 20% of businesses fail in the first year and a further 60% fail within 3 years. This stat coupled with the current economic climate, it’s become clearer that the likelihood of success is even more grim.

What did appeal to me however; led to many conversations with friends and relatives about their desires to own a business that fit their lifestyle. Perhaps these individuals were not as easily influenced as I was reading TechCrunch articles in the early 00’s. Is it far fetched to think you can own a business and also live a fairly normal life? Is there an alternative reality to what we’ve been sold? Do you always have to start a business or can you use the corporate chops you’ve gained to take over an existing business?

Photo Credit: AdeDare Artist

I realised that I don’t know much about this, I needed insight from individuals who have dabbled in this or at the very least had more exposure than I have. After I wrote the first issue on the topic of owning a business without the pain of starting from scratch, I reached out to an old friend who’s helped entrepreneurs buy and exit ventures to contribute towards a series of newsletter issues that will be centred around business acquisition and exits.

Whilst there is a lot of interest in the startup space; there is another segment of businesses that aren’t necessarily attractive or “TechCrunch'' newsworthy. These businesses are often smaller businesses, operating in your town centre, invisible to almost anyone but a few savvy Private Equity funds that are hip to the value of these very businesses that you could also acquire.

These invisible businesses include:

• Opticians 

• Dentists

• Laundromats

• Car Garages

• Private Health businesses

• and more!
  

Over the next few newsletters I’m going to deep dive into this space and share my findings with you all.

Upcoming Opportunities & Events

• If you’re finding raising tricky in this environment and want to go back to scrappier roots to get customers, Lee Russel who’s written the Minimal Viable Launch has a free event covering principles from The Lean Startupo to Oversubscribed with a pipeline of customers. Link

Thoughts & News I wanted to share with you

• Andy Ayim, Founder of Angel Investing School signals that he’s launching an open source education platform all about angel investing for aspiring investors and founders alike. Link

• Codie Sanchez has a new podcast churning out episodes. Link

• Franklin Asante aka Urban Financier, shares his advice on Forbes Family Groups IG on what wealth means. Link

Share with anyone who buys or sells businesses or is looking to