YouTube Q and A Best Industries to buy businesses in in 2021
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Show Notes
Shaz answers the question about how to identify the best industries to buy a business in and gives great tips on what to look for and why.
It’s best to focus on only one sector and then build a team around this asking yourself about high margins, the ongoing demand for the business and looking at industries with high levels of fragmentation.
KEY TAKEAWAYS
- Look for industries that are highly fragmented - There might be two or three big players and lots of smaller individual businesses in the space.
- Small businesses need to sell at some point but the options can be limited
- Buy a business with high margins - High margins mean high profits
- When you begin if you don’t know the business very well you may decrease the margin but if there is a high margin you will still be in a good position
- Businesses in demand currently include anything to do with adult social care, old people’s homes, children’s homes and IT businesses
- It’s about businesses that there is a need and demand for continually
BEST MOMENTS
‘Those smaller businesses rely on selling their business at some point’
‘Stay away from compliance heavy businesses as this can become very involved’
‘Every business can work well’
VALUABLE RESOURCES
ABOUT THE HOST
Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.
Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.
He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.
You can find Shaz on: