Hi, new to this, so sure I’ll maybe break some rules, go easy on me.

I’m leaving my company at end of next year and will have £1m in savings. I’ve operated at 2 below the CEO in a FTSE 100 company for 10 years (15 years in more junior roles before that), so I know how to run a business, albeit I’ve never ran my own.

Early days, but thinking that rather than go back into the corporate rat race I might fancy buying a business for income and growing it. Would probably spend up to £500k

Just looking for ideas/experience on what sort of business to look at/avoid? And any tips as I start my research.

I know the obvious question would be what sort of business would you want to own? The honest answer is I don’t know, but I have good General Management and P&L commercial management skills so I could probably turn my hand to most that don’t require specialist skills (ie not IT).

Thanks in advance for any advice or experience you can offer

Uk based btw.

  • Rov_Rov1@alien.topBEnglish
    1·
    1 year ago

    Read: “Buy Then Build” - Walker Deibel

    This helped me a ton in buying my first business. There a bunch of great Acquisition Entrepreneurship podcasts that give some great guidance as well. “Quiet Light Podcast”, “Let’s Buy a Business Podcast” to name a couple.

    Note: These are all US based resources, but a lot of the info translates pretty well to the UK.