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?
Expanding business. Based on replies I’ve gotten, I should have been more clear. I will continue to run my bookkeeping firm and do the real estate part time. The leads from the RE business would be fairly lucrative plus the relationships I’ve formed with builders. I would be outsourcing the actual day to day work for the flooring company (the business I’m looking at buying actually has all that in place already). I would just manage from a higher level.
But in reality I probably just want a pickup truck 🤪