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- 7 Businesses For Veteran to Buy
7 Businesses For Veteran to Buy
Found some businesses and offer my thoughts on them.
I was doing my customary research on looking at websites for businesses to buy and found a number that might do really well for a veteran.
I may also be pursuing them OR
Passed on them because of location or other reasons they did not fit.
I have not signed the NDA to access the full material on these businesses and so do not have any more information than what I can share than what is on the listing, but will offer my thoughts on the business and things worth asking.
If you think you may be interested in one, but don’t know where to begin in buying a business, reach out to me by responding to this post or emailing me at [email protected] and I can help you in the initial stages and put you in touch with some people who may be able to help you close.
No guarantees on anything, but you will never know until you ask.
Are you interested in running or working at a small business, and not buying one?
Check out my job board where I have opportunities like:
Fighter Plane Rides in Long Beach, CA
My take:
Hot dang this looks fun. If you flew in the military and want to keep being around the aviation world, this could be a great business for you. Very sure it is this business.
Things I would do:
Add to the landing page. This is a crazy cool experience and video sells here.
Things I would ask:
I would really want to know who the pilots are. Not only do they need to be able to fly, but need to provide a great customer experience.
What are the insurance requirements? They have to be crazy.
What are the maintenance requirements of the aircraft? Can any aviation mechanic work on these planes or do you need some specialized expertise? How many working years are left on the planes? A wise friend from the army once said, “If you don’t plan for maintenance, maintenance plans for you.”
Virtual Shooting Range in Austin
My take:
If you come from a combat arms background or like spending time at the range, this could be a great business. While I am sure we all agree that shooting live rounds is better training than virtual simulators, this can be a very cost-effective and time-effective way to train. Firearms enthusiasts are usually really sticky customers who are passionate about training and staying proficient, so they make for great customers. After some quick digging, I am willing to bet that it is this business.
Things I would do:
Create a monthly membership to get some predictable recurring revenue.
See about contracting with local law enforcement as a way to keep officers proficient in a more cost-effective manner.
Market to bachelor parties- Austin is a destination city.
Things I would ask:
Why are they selling and why at such a discount? I would want a really clear answer on this.
What are the lease terms?
Who provides the software and how often do they update?
It would be worth going as a customer one day to see what the experience is like.
Unique Wood Business in Tampa
My take:
This could be a nice side hustle. From the listing, it looks like the current owner was at MacDill AFB and went to Ft. Benning. If you really like woodworking, this complements that hobby well.
Things I would do:
Find every woodworker in the area and make friends with them to become their supplier.
Connect with custom-home builders to provide supplies for unique home touches.
Things I would ask:
Who is the vendor in South America? How did you find them and why do they work with you?
Repurpose Old Uniforms
Check out the listing and the business
My take:
This business is not going to make you rich, but provides a good purpose and keeps you connected with the military community. Also unique that they offer a 10% discount on the asking price for veterans and spouses.
Things I would do:
Create more product offerings
Things to ask:
Why is this listed as relocatable? It looks like they have a physical location.
Aviation Products Manufacturer in Colorado
My take:
It looks like this business may be owned by a foreign company. That actually may present an opportunity as they may be maxed out in how much they can sell to the US government, meaning you have a more straightforward path to growth.
Things I would ask:
Really dig into the manufacturing process. Manufacturing is TOUGH.
Who are the competitors and why don’t they buy this?
Bourbon Aging Device
My take:
This is not a direct business for sale, but a specific product carve-out from a larger brand. It will take some time to get the business set up, but the product looks great. The product is owned by a former Marine and from the looks of the brand, he would love to sell to a veteran.
Things I would do:
Try and get this added to male-focused subscription boxes. Your margins will be lower but these are only good for a few uses, so customers will have to then come back to you if they like the product.
Look into the contracted manufacturer they have. They will eat at your margins but it will cut out a lot of headaches (most likely).
Things I would ask:
Because this is a single product being sold off by a larger company, you are going to need a lawyer to make sure you maintain all the rights to this particular product and name.
DoD Contractor in California
My take:
This is a great size business. With $832k/year of cash flow, that’s enough to cover an SBA loan and still have plenty left over.
Things I would do:
It does not appear that this business uses veteran set-aside contacts, so I would immediately go after those.
Things I would ask:
I would really dig into the seller. Does the business rely on their unique relationships and qualifications? If so, this may be hard to buy.
Parting shots
Look, buying a business is FAR from easy. It’s REALLY hard. But opportunities are out there.
Go crush it.
Mark
The Veteran Professional
Interested in learning more? This book was huge in educating me about this world. You can find it on Amazon (affiliate link) HERE
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