Part 6/9:
Established Ownership: Ideal businesses to acquire are those owned by individuals with extensive experience and an established managerial layer. This indicates that the business operates independently of its owner, creating a more secure investment.
Recession Resilience: It’s crucial to select businesses in sectors that withstand economic downturns—a plumbing firm typically fares better than a luxury custom framing shop during tough times.
Manageability: The business model should be straightforward enough that even a novice can understand and manage it. If a complex business model would baffle someone without prior experience, it may not be the right fit.