Meeting owner of Rabbit Advertising
So before traveling, I went with Tito Tony to meet with the owner of Rabbit Advertising. Like I mentioned before, we needed to do a "do diligence" on his business so we will have an idea how we can resell it.
Mr. Robert of Rabbit Advertising was a Belgian and was almost 50-years old (I think). His business was concept. He sold ad spaces which were used in class A restaurants as place-mats.
Generally his business concept was very good, and based on Mr. Robert it was earning a revenue of 400,000 a month. He had also other products like Maps and promotional cards that were also offered to hotels and restaurants to entice more customers to spend more on their service.
He is selling his business for 4 Million. The 2 Million was to paid spot cash and the half to be paid in a years time. If a buyer were to buy his business his ROI would be made in just 9 months time if ever the 400,000 sales revenue per month was true.
In summary selling the business would be easy, we could even mark up at least 15% on selling price and it would still look very attractive to a buyer since potential ROI is very short based on usual investment which usually longer ROI's.
The question now comes in mind, if his business was earning that much, why is he selling it?
Although, I tried to slowly get information it was never enough to justify his books since we were only getting information from Mr. Robert himself (the seller). What we ultimately needed to do was to have a look at his financial statements and his books.
To do this we needed to find a potential buyer first and finally be able to approach him and have a look at his books. Although his business concept is very good and is really possible to earn that much, I still think there is a catch on why he is selling his business.
Now off to go back in Bacolod City.
After our meeting, I had to part ways with Tito Tony. Now off I go to travel back to Bacolod City and continue my life as an employee.
While I was riding the bus (Vhire) I already starting to read the book, "Cash In A Flash". The first lesson in the book was great.
It was about having a WOW Now, Inner Winner, and a Dream Team. I wasn't able to finish reading the book topic yet, so I am still to find out tomorrow.
Before I slept I read again my dreams and visualize my future in 90 days - a Millionaire.
I look forward to more business ideas for tomorrow.
See you at the finish line, to a Million in 90 days.
Yours truly,
Jake the Multi-Millionaire
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