Jenn Foster and Melanie Johnson co-owners of Elite Online Publishing, Interview Jonathan Jay about finding motivated sellers, leveraging other people’s money for acquisitions, and setting up businesses to be sold profitably.
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What You’ll Learn In This Episode:
- How to buy a sustainable business.
- How to leverage other people’s money.
- How to plan strategically for business sales.
“You are buying a business, not a job. Go for larger businesses that can support a management team, so you don’t end up just operating the business day to day.” (03:30)
“The earlier you start the planning process, the better. And it’s all about systemizing your business to make it easier for someone to buy it.” (11:06)
“You need to know how to buy a business, so you can control the deal and make it very much your deal.” (17:42)
About Jonathan Jay:
Jonathan Jay has been an entrepreneur since dropping out of university at age 19. Now 50 years old, he has built businesses in publishing, digital marketing, adult education and coaching, and preschool education and sold each of them. During the pandemic, he made 48 business acquisitions to create the 4th largest group in his sector in under three years.
One notable deal was buying a £5m annual revenue digital marketing company from its Private Equity owner for just £1 and selling it for £1.3m just eleven months later. He is an advocate of a healthy work-life balance, suffering mental and physical burnout, and believes you can achieve success without business taking over your life! He now helps other people buy businesses and helps them avoid the expensive mistakes – as he says he has made them all!
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Video URL: https://youtu.be/wAd3GP-U4Vo