Buying Small Businesses: Is Investing in One Worth It?

The Money with Katie Show

Money with Katie

Self-improvement, Education, Business, Investing, How To

4.8 • 1.3K Ratings

🗓️ 25 May 2022

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

A couple months ago, I got really anxious about income. Aside from ~lite paranoia~ being one of the core tenets of my personality, my concern was (probably) justified. Rumblings of a recession on the horizon, #stonks going down, and the fact that Money with Katie was my sole source of income started to make me feel a little…vulnerable. So I started looking into alternative investments. While I deeply considered real estate and passed for the time being, I discovered an amazing world of online content around buying small businesses and began my pursuit. This episode dives into where I looked, what I found, the two businesses I almost bought, and why I didn’t pull the trigger. Plus, two interviews: One with Sarah Becker, a friend of mine who bought a dilapidated commercial property in her neighborhood when she was 24, and another with Steffany Boldrini, a successful investor in the self-storage space. Sarah's new course, Independent Retirement Academy, launched on May 23. Listeners of Money with Katie get $50 off with code MWK50. Follow Along Blog Instagram Twitter Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome back rich girls and boys to the Money with Kitty Show.
0:09.6	I'm your host, Katie Gattie Tossin, and boy, do I have a fun one for y'all today?
0:22.9	Can I just say that no matter what happens in the future, going down this path of small
0:28.9	business acquisition has been so fun to explore?
0:32.5	Like I feel like I was starting to feel a little bit stagnant, if you will, in my financial
0:37.4	path, because I had mostly achieved the major things that I wanted to achieve, and my stock
0:43.2	market strategy was more or less just set it in forget it.
0:46.4	I had already explored the whole real estate thing and realized, all right, this is a big
0:50.2	not right now for me with current valuations, and there didn't seem to be much else to
0:55.7	learn out there that didn't feel like a forex scheme.
0:59.6	So diminishing returns, I guess it's the point that I'm trying to get at.
1:02.9	I felt like I was reaching the point of diminishing returns with some of the research I was
1:06.2	doing.
1:07.2	So, enter another content creator named Cody Sanchez.
1:11.2	I started following Cody's stuff a few months ago, but I really started paying attention
1:17.0	after I noticed her Twitter threads on buying boring businesses, and I was like, huh,
1:22.6	this is interesting.
1:24.0	One podcast interview that she did, by the way, I listened to pretty much every interview
1:27.8	she's ever done.
1:28.8	I just Googled her name in the podcast app and just went down the line, but one in particular
1:33.1	really sealed the deal for me.
1:34.7	She basically said, hey, what does everyone say about 2008, 2009, 2010?
	...

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