Episode description
Why BUYING A Business Often Makes More Sense Than Building One From Scratch with Ace Chapman
Episode description
Ace Chapman is a micro private equity investor who has acquired 15 offline businesses (he has sold 13 of them) and 31 online businesses. He is also the author of The Ace Formula, a book on how to buy a profitable business, starting with no money, and live life on your terms like a boss.
Ace bought his first business, CoolWallStreet.com, in the late ’90s at the age of 19. He started as a member of the site which allowed users to invest virtual money in the stock market. When he sold the business in 2001, he was getting seven-figure offers.
He talks about his favorite business deal which was a tanning salon that he sold only six months later for more than double profit, and shares the three key things he looked for before purchasing it.
Some Topics We Discussed Include:
- Starting an offline business
- Buying an offline business
- Selling businesses
- Managing and marketing a business
- Finding potential businesses to sell
- Places to find the best deals
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