Just wanted to pick the brains of business owners, past or present. I have recently been looking for small business opportunities. Aiming for something that is fairly self sufficient, has a small amount of good staff(and manager) already in place, that requires maybe 10-15 hours a week of my time. Looking for a passive income with potential for capital growth.
I won't bore you with the details too much, but just wanted to get some ideas as to what to look for, what to expect, things to be aware of or watch out for. Has anyone had some terrible experiences? Or any great experiences? Does anyone have certain industries they would stay away from?
Would anyone recommend using a business broker? Or do they only have their interests at heart. I understand I would require a good accountant(already got) lawyer and banker. Is the aim of the game to go through everything with a fine tooth comb so as to eliminate(or at least try to) any potential surprise expenditures etc, and ensure the business has been profitable the past 3-5 years?
Not taking the leap in the immediate future, just starting to get my head around it all.