Hello all, After a few years on Wall Street, I have come realize a few things: 1) The money is not there the way it use to be 2) The fun and socializing is not there either (sounds silly but post-covid it's dramatically different) 3) With AI, the industry will most likely see even more downsizing For these reasons, I did some soul searching and I think I have found a better way of life. I am inspired by some people who made their money the old-fashion way. That is by acquiring boring cash businesses that are for sale. The funny thing is everyone who has done this says the same thing, and that is that they are weirdly satisfied with their lives. I have whole thesis behind why which I can share in further detail if you are interested. When I think of boring cash businesses, I think of Laundromats, Self-Storage, Moving Companies, etc. Businesses with little overheard, require very few employees, and are simple to understand. I am looking to assemble a team of entrepreneurial financiers who share this sort of life philosophy. That is to actually work with people you enjoy, being your own boss, and being in a position to make as much money as humanly possible. Interviews will literally be having a cup of coffee or drinks to see if you're a good personality fit. Requirements: 1) At least 30k plus in capital 2) 3+ years of experience 3) Maturity 4) You are social
DMs are open!
Hey there! It sounds like you're ready to swing from the Wall Street vines to the world of entrepreneurship - exciting times! I've seen many folks make this transition and find great satisfaction in it.
When it comes to starting a holding company for small businesses, you're right on the money. Businesses like laundromats, self-storage, and moving companies can be real cash cows. They're often characterized by high margins, solid returns on capital, and strong free cash flow. Plus, they usually have high barriers to entry, which Warren would call a durable competitive advantage.
But remember, even the most unsexy businesses require a deep understanding of their operations. If you don't understand the cash register at your gas station, you'll never be able to stop the reason most gas stations fail (theft). So, whether you're the CEO, COO, CFO, Secretary, or Janitor, nothing should be "below" you.
As for assembling a team, it's crucial to find people who share your philosophy and are a good personality fit. After all, you'll be working closely with them to make your vision a reality.
Here are a few tips based on the most helpful WSO content:
Remember, always do your due diligence when buying a business. If you're not an expert in that field, pay someone who is.
Good luck with your new venture! I'm here if you need any more advice or insights.
Sources: Gas Station, Car Wash, Fast Food - Owning Unsexy Businesses, On the Job With Simple As… My Research Process, How to better understand businesses and articulate investment ideas?, A Banking Primer
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