About the book
Another path for people with good careers
Many professionals reach a point where a good career no longer feels like enough. They want to build something of their own, but starting a business from scratch feels slow and uncertain. Buying an established business can be a better path, if you know how to do it well.
Buy Your Way Out is a practical guide to acquiring your first small business. Ricardo Garcia spent about a decade as an engineer before buying his first three assisted living homes, which grew into six locations. He now spends his time analyzing and buying businesses, and he wrote this book to share what he wishes he'd known at the start.
Inside, you'll learn how to:
- Tell the difference between buying a business and buying yourself a job
- Build a buy box that fits your skills, money, and life
- Find deals while you're still employed
- Read the financials and spot an overpriced business
- Buy a business with far less money down than most people expect
- Use seller financing and other creative structures
- Make an offer, get through due diligence, and know when to walk away
- Lead your new team through the first 100 days and eventually step back
Each chapter follows one example business through real numbers, includes stories from Ricardo's own deals, and ends with a checklist you can use on a real acquisition.
Ownership isn't easy, and it isn't for everyone. But if you've been wondering whether there's another way, this book will show you how it actually works.
What's inside
Fifteen chapters, in the order of a real deal
- Why Buying Can Beat Building
- Business, Not a Job
- Your Buy Box
- Finding Deals While Keeping Your Day Job
- Talking to Sellers
- Reading the Numbers
- What It's Worth
- You Don't Need a Lot of Money Down
- Creative Structures
- The Safety Test
- Making an Offer
- Due Diligence
- Walking Away
- Closing Day and Your First 100 Days
- Duplicating Yourself and Buying Your Next Business
Every chapter follows one example business with real numbers, includes stories from the author's own deals, and ends with a practical checklist.
About the author
Ricardo Garcia
Ricardo Garcia spent about a decade as a mechanical and manufacturing engineer in the medical device industry before leaving to build businesses of his own. He built Angel's Haven Care, a group of six assisted living homes across Riverside County, California, starting with his first acquisition.
Today, Ricardo focuses on acquisitions, analyzing and buying businesses in healthcare, engineering, manufacturing, and other industries with strong cash flow. He is also active in real estate investment and private lending.
Ricardo grew up in Mexico and came to the United States at age eight. In 2017, he founded the Garcia First Generation Scholarship at his high school to support first-generation college students, and he personally mentors each recipient through college. He sees the businesses he builds as part of a legacy for his family, and this book as a way to share what he's learned with others who are ready to build their own.
Buy Your Way Out
A Practical Guide to Acquiring Your First Small Business. E-book (PDF), 55 pages.
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This book is for educational purposes only and is not legal, tax, accounting, or financial advice. Examples are illustrative.
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