Is buying a business smarter than starting one?

What's better, buying a business or starting one from scratch? I've done both over the last 20 years and in this video I wanted to dive into the pros and cons of both so you can decide what might be better for you.

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Who am I?
My name is James Sinclair and I'm the founder and CEO of The Partyman Group of Companies. I started building my business when I was just 16 as a family entertainer after that I built up an entertainment agency, then moved into building a leisure and day nursery businesses. Today we operate a £30 million business which includes leisure, childcare, outdoor attractions, commercial property, arts and crafts manufacturing as well as one of the UK’s oldest Ice cream companies; The Rossi Ice Cream Company.

#business #businessowner #buyingbusinesses

[lifeisshort.]

What I LOVE about this channel is that I get to see other businesses that are NOT online, god knows I'm sick 'n tired of everyone forcibly pushing online businesses down my throat like it's the only businesses around.

[pfschuyler]

This guy is my favorite entrepreneur coach. Excellent.

[RJC]

I have no idea how you muster the energy and passion to run all these businesses.
Fair play to you

[markac]

Buying a business every time. I have bought multiple businesses, it is the way to go.

[dcadvisuals]

So true about making sure to dilute clients / customers and do not depend on that one big client.. I did this and when my clients business dried up so did mine. Now have may clients paying small amounts but often. Thank you James, class video as always.

[kevinjames]

Love your stuff. Retired now on modest lifestyle. Worked way too hard in my own micro business. Wish I knew some of this stuff 39 years ago. We’ll done

[PaulFieldWFP]

Thanks for taking the time to make this video James. I recently bought another business which matched/complimented my existing client base and I learnt a great deal, including how to avoid the liabilities and staff issues though choosing to buy the assets only and the importance of having good legal representation. The ROI has been in the hundreds of percent and leveraging the database has been key to making the purchase successful. They had been trading for 10 years although that wasn’t something I’d considered at the time, it just felt right and the risk was very low.

[crc]

I really appreciate your videos, James. Thanks for making them!

[matijazadravec]

I learn James's content by explaining it to other people 🙂

I'd suggest to younger people to work somewhere/for someone, get some experience, start their own startup and get a lot of experience from all different views/departments. If it goes bust - a lot of experience learnt. If it skyrockets - great!
Buying businesses is great. One should educate themselves what to look for.

Going Vertical is a pure gold. I absolutely Love how you James incorporated all the businesses into your "eco system". I tell this to people with pure enthusiasm. Thank you for sharing your story so far and looking forward listening to you.

[leoehgartner]

I do not own businesses now but I have. Now, working for a company and I have a thought to start one. However, you answered my questions clearly with this video. Thank you so much for such a great video and experiences you share. Really admirable. I love ice cream and I set up in London small ice cream shop which produces it. I have been in Southend many times early 2000 but never tried Rossi ice cream. I will come and visit it soon! All the best James, brilliant video and thank you once again! Subscribed

[andyasia]

Buying adds cashflow from day one and if you can find one which is languishing, unloved, a tired owner, etc. then you can get deals but owner financing needs to be at a much higher multiple and with a significant amount down otherwise as a seller you're better off putting in more management and keeping the business.

[eglausch]

James, awesome as usual. you saved my sanity with two quotes ... "kiss many frogs to find a prince" and "it needs 8 years to make a stable business" .... nobody tells that to a young business owner. average media input is about making a million in a year of Air BnB flipping or so.

[Thescottishstruggle]

Another fantastic video your passion and energy is inspiring

[zulfazlihamjah]

No crazy promise or exaggerate sharing🎉 I really love your channel👍🏻

[Iam_db]

Another Brilliant video! Your work continues to inspire me!! Best wishes from Essex.

[MrGregWoodworth]

First time I've found your content, subscribed in 40 seconds.

[geekyourlikeslulu]

would be good if there's video about what I should check when buying a business, what business to pick, etc

[topboyuk]

Great Content and with advice From your pa I'm currently looking at A Business.

[tribhuvannikhil]

Hi James. I am currently in the process of buying a business, can you make a video about the handover period from a buyers perspective, what to do and how to have a robust handover.

[hiiv]

I would love to see a video on the use of a 3PL third-party warehouse for logistics for shipping products out of an e-commerce website vs in house logistics ? Why choose one over the others