How to Find a Business to Buy: Go Get 10 No's First | Ep. 63

In this episode, Brian Hulet shares why side hustles are not always the cleanest path out of a 9-to-5. He had previously started a private school and community center while still working full-time, but even the part that worked became incredibly time-consuming and was not enough to replace his day job. That experience helped him understand the difference between building from scratch and buying something that already has customers, employees, and momentum. Tim is an entrepreneur who believes everyone should explore the opportunities that business and real estate can provide on the path to financial freedom. He owns and operates a wine & liquor store, a software startup, a consulting company, and a growing portfolio of commercial and residential real estate. Tim's passion for independent business has led him to support dozens of other business owners. For over a decade, he has worked with businesses on strategy, processes, finances, and marketing. These experiences, along with analyzing dozens of other businesses for potential acquisition, have provided Tim with an immense knowledge base to pull from. Tim has appeared on multiple top-tier podcasts in the financial space, such as Bigger Pockets Money and The Freedom Chasers Podcast. [00:00 – 03:40] Brian's Background and Why He Wanted to Buy [03:40 – 08:59] Side Hustle Lessons and the Cost of Starting From Scratch [08:59 – 14:20] M&A Experience, Coaching, and Making the First Calls [14:20 – 22:43] Hiring a Coach and Getting Comfortable Spending Money [22:43 – 33:57] Choosing the Sporting Goods Store and Building Seller Trust [33:57 – 41:35] SBA Financing, HELOC, and Finding the Cash [41:35 – 47:20] First Six Months and Inventory Challenges [47:20 – 55:50] Retail Lessons, Store Focus, and Gradual Improvements [55:50 – 59:48] Giving Back and Supporting Local Businesses Guest Bio Brian Hulet is a father, volunteer, and the owner of Sports Exchange in Mesa, Arizona. After a 20-year career in health care administration, Brian bought the business and now focuses on local community partnerships and making sports equipment more accessible. Connect with Brian: LinkedIn: linkedin.com/in/brian-hulet Website: SportsXchangeAZ.com Connect with Tim and the community on social media for more tips and updates: Website: https://www.powerofbiz.com YouTube: https://www.youtube.com/@powerofbiz Instagram: https://www.instagram.com/timtdelaney/ Threads: https://www.threads.com/@timtdelaney LinkedIn: https://www.linkedin.com/in/timothytdelaney/ Facebook: https://www.facebook.com/timtdelaney Tweetable Quotes "Everybody who has ever bought a business had to ask somebody for the first time." — Brian Hulet "If you are trying to replace your 9-to-5, a side hustle can be a long, slow path." — Brian Hulet "Buying a business is all about building a relationship." — Brian Hulet