Hey y’all- I currently own a bookkeeping firm (which consists of just me) that is netting me a couple hundred thousand a year. I’m also a realtor and will do about $70k this year with that business.
I’m considering buying some sort of franchise or service based business like a flooring company (because of the real estate contacts I now have). Obviously I don’t know anything about these businesses but I feel like I could learn and expand pretty quickly. I just really feel like business ownership in some sort of trade is the way to go in order to expand my “portfolio”.
Am I crazy?
I will echo others here. If you invested in bringing additional bookkeepers on, you could move into business management, which is where you are trying to get to. This gives you the advantage of already knowing the industry. I assume bookkeeping as a business is far more lucrative than most others you are considering.
Once you have your new staff in place, use your in-house talent, licenses and connections and start a property management business.