The Late 40s Pivot Into Business Buying

It turned out great for me.

Yeah. So. So $50,000 of additional earnings that you didn't have to pay for.

Great. Great. Now, you had said to me, Jarom, that the quality of earnings that you paid for was.

Was what.

How did you think about this? This was an interesting little detail to your search.

Yeah. So I. I looked into quality of earnings I reached, I reached out to several potential accountants that I could work with. And the first meeting I had, the, the cost was 45, 000 and I was, I was not ready for that. I, I did not know that that's what it was.

I don't know how well I should have googled how much do these cost? I didn't. Of course I found out it was $45,000 at the end of a fantastic meeting where they showed me the work they do. And I was just so impressed.

The whole time I'm having this meeting I'm thinking, wow, if I own a business, I want somebody to come in and do this analysis for me. It was, it was truly great. But I assumed this business would, this deal would die.

I really believed it was not going to work and I couldn't get myself to spend $45,000. I met with another person and it was $25,000. And even that on a, on a deal where a loan broker who's very experienced told me to run, I didn't want to spend 25,000.

I found a third option. I probably interviewed five, but you know, in rough tiers I found a third option that was about $10,000. The work and analysis was not as strong but, but really I felt confident because of my experience in business under, in understanding P Ls.

So I just needed the numbers to be verified. I didn't, I wanted the analysis, but I didn't really need the analysis. So I went the $10,000 route and got a quality of earnings done.