Top 3 Dangers of Buying a Business with no Money Down

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Title	:	Top 3 Dangers of Buying a Business with no Money Down
Lasting	:	8.48
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Views	:	11 rb

Truer words were never spoken: "If you don't have any money, it's because you haven't learned to make money yet!" So sad to see people fall for these "gurus" and buy their courses to show them how to buy a business with no money and no experience! , when the reality is these gurus have never made any money in real life business other than selling their expensive courses to thousands of people! As a guy in business for over a decade myself, I would suggest to anyone looking to buy a business to find a successful company in that industry and work for them for a while and get paid to be trained and save some money first
Comment from : Ben Sepasgu

Good advise, ive owned 2 construction business's, i think ill be ok if i buy an online store for example But yes ill definitely check for liens and taxes stuff like that to make sure you can handle whatever problem theyre having, but i still think its a good way to wealth, just know your industry
Comment from : DaGreatEscape

Is there ever a time when it would be more advantageous to take payments as opposed to a lump sum? brLet's say an owner was a combination of ready to retire, sick, or didn't have suitable heirs, would 20 of net profit for life be more attractive than a lump sum at a multiple?
Comment from : otimmo

Although, if you know how to run the business that you're buying doesn't that mean that you can actually buy a business and that income? So in that sense a business can teach you how to make money Just a thought cause it's my current situation! love the content!
Comment from : Just Relax

On a related noteDan Pena is conning people to believe you need zero money or any knowledge about business buying or the actual business to get wealthy! And he is charging the sheep $25k!!! And they actually believe his BS!!!poor fools
Comment from : anthony harmon

No offense, but everything you stated should’ve been worked out in the due diligence period If you take the right steps before purchasing - none of this should happen The last part has to do with just being business savvy
Comment from : MobyTheWhale

Great Content!
Comment from : Dave Cris

😍
Comment from : gradosa 82

This is why you don't buy a losing business only a consistently growing one and you do a thorough due diligence!
Comment from : Sheran De Putt

Always keeping it real! I love it!
Comment from : Young OG The Motivator

I appreciate all his videos Always give honest opinion
Comment from : Allmosts

Will you turn on your closed captions, it'll help viewers see the terminology too I'm in a business valuation program you're right about getting skills Are you interested in developing future business buyers?
Comment from : OTL Kuband

"If you don't have any money it's because you haven't learned how to make money " wow brbrThe most powerful, brutally honest, and NECESSARY statement in this entire video SO TRUEbrbrIf you can't cook what makes you think you are going to become a Michelin Star Chef tomorrow!!😂😂brbrbrbrLEARN HOW TO GENERATE MASSIVE INCOME PERSONALLY FIRST
Comment from : Funnell Sites

So much value in this video, thank you so much!
Comment from : JulesEatsCats

Is it ok to buy a running business with 20 down and the rest take out a SBA loan ?
Comment from : Native

1:11 love this momment
Comment from : jeshua arevalo

This situation only happens if you're not taught about what Due Diligence is If you don't know what that is, you shouldn't be buying a business
Comment from : ChromeClapper

Interesting channel, promoting capitalism with a libertarian mindset!
Comment from : Captain Planet

You should make a course I would buy from you
Comment from : Mario Hernandez

He talks like Donald Trump He is not telling us what we want to hear or to make us feel good He is telling us the truth He is saving us from a disaster
Comment from : Jerry Turner

Are yall investors
Comment from : Brian W

great content you enlighten people and make them aware of so many financial tricks thanks alot
Comment from : GMA R

I wouldn't buy a business until I had an independent audit completed
Comment from : jcman240

thank you for the info and the time to make this good video
Comment from : Rob T

Due diligence first
Comment from : 308328928

Top advice, holds true for the UK as well Especially regarding taking on the existing employees + the lease (not just the rent but any repair liability as well, that £20k roof repair is suddenly your problem)
Comment from : Daniel Murrell

Awesome, straight to the pointno fluff, really like your teachings
Comment from : TheFreedomGrind

Great Content Really enjoy the genuine honesty and unveiling of the realities of business and money My dad would always speak to me about this
Comment from : Alex Rosario

Similar with expansive vintage cars - nothing more costly, than a cheap classic Ferrari
Comment from : Rupert Migtau

🔥🔥🔥
Comment from : Katoa TV

Isn't that just a commonsense?
Comment from : M H

I disagree; you can't learn how to run a restaurant online I don't know why everyone is obsessed with just taking the lazy, cheap way when it comes to a business education
Comment from : Ken Rose

Can you please do a video on Assisted living facilities, Nursing Homes, Car Dealerships, Barber Shops, Laundry mats, Nail shops, and Salons!
Comment from : Brian Best

Glad to see you bring up the taxes, and possible trust funds liability as well
Comment from : RegCPA59 !

Hey Franchise City, Is it possible you guys can do an episode on Smoothie King Franchise is a good buy?
Comment from : Superior Living

Thanks Robert, timely, and relevant I imagine these "wonderful" deals will pop up at an exponential rate as everything begins to "reopen" I can see, "The virus is the reason the financials look bad, but now that we are open you can get it back to where it was and better" As a buyer you will have to look beyond the business, evaluate the industry and the impact of social changes on future sales If you thought looking at a P&L was difficult time to break out the crystal ball
Comment from : Jason Archer

Hats off for this man As always great video A bitter truth is much more better than a sweet lie
Comment from : Me&myself

I love the videos, you tell it like it is The Tough love really works I have managed bars in the past The sad part was these bars only made a 5 net profit It’s tough out there
Comment from : vintagesterlingfinds

Thanks for your informative and realistic point of view as usual, its such a breath of air from all the fluff and lies
Comment from : Swelly K

I'd love to see you do an interview of Moran Iron sharpens iron!
Comment from : Ryan Finchum

These videos are pure gold!
Comment from : Vishaan Tiwarie

Greetings, Great video's! I was wondering whats your take on opening a liquor store? Cheer's!
Comment from : The Bone Picker

Great video Thank you for the upload
Comment from : lambadamarkasi

Aren't brokers (or sellers) criminally liable when they misrepresent a company that's for sale's earnings? As in your example They are essentially presenting a liability as an asset, and asking (a lot often) money for it It is essentially fraud, but so common practice How can this continue
Comment from : Eduard v N

Yeah ofc Seller finance and debt Easy peasy
Comment from : Freddie Jackson

I've seen a lot of advertisements lately for people offering training on how to buy a business without any money - even if you have no experience in that industry As Franchise City suggested, this is an easy way to lose a lot of money and get yourself into a lot of trouble As Russell Simmons said, "There's no elevator to success You have to take the stairs"
Comment from : Dan Jenkins

No free lunch
Comment from : MrAndycm

Why when I look up franchises for sale, all I see are the crappy ones I never heard of ?
Comment from : femaledeer

Very interesting and informative Thank you for the video
Comment from : Hassan Bazzi

you and your channel deserve more followers
Comment from : luckyyu2004

I've always thought that buying a house, car, or Business with no cash down or no understanding or express is a quick way for someone to get out of death
Comment from : Jacob the First and last knight