Are you looking for a reliable and steady stream of income? Do you want to invest in a business but don’t want to deal with possibility of declining trends and low success rates? The hassle of building a startup can be filled with tons of stress, shifting your focus to “boring businesses” may be the right move for you. In this blog post, I will break down what qualifies as a boring business and also give a few pointers on acquiring and finding one of your own to invest in.
What is A Boring Business?
Boring businesses are companies that provide goods or services that are necessary, but not necessarily exciting. These businesses may not have the glamour or prestige of more exciting industries, but they can provide a steady stream of income and a reliable customer base.
It’s typical for a boring business to be overlooked by larger investors, but they can be a great investment opportunity for those looking for a stable and consistent income. These businesses can include laundromats, funeral homes, pest control, etc. Not very exciting, but smart financial choices none the less.
So here are a few “boring” business ideas …..
Boring Businesses To Buy
1. Laundromats – Always in demand, laundromats are a steady business with a reliable customer base. Check out online business-for-sale marketplaces, local classifieds or even drive around and look for businesses that are for sale. You may find a small laundromat nestled in the corner of a strip mall or in a small shopping center. These businesses may be overlooked by larger investors, but they can provide a steady and reliable income.
2. Plumbing Companies – Everyone needs a plumber at some point, so why not invest in a company that provides this important service? Look for established companies with a good reputation in your local area. You can research online for plumbing companies that are for sale, check with local business brokers or even with plumbing supply stores. These businesses can provide a steady income with recurring customers that need routine maintenance, repairs or installations.
3. Accounting Firms – With tax season coming around every year, accounting firms are in high demand. Consider purchasing an existing firm with an established clientele. You can look for accounting firms that are for sale online or through business brokers. These businesses can provide a steady income year-round by providing bookkeeping, tax preparation, and other accounting services.
4. Storage Facilities – People always need a place to store their belongings, making storage facilities a consistent business. Search online for businesses for sale or ask around your local community. You can find storage facilities for sale on Craigslist, Facebook Marketplace or through business brokers. These businesses can provide a steady income with long-term customers who need a place to store their belongings.
5. Funeral Homes – Although not the most exciting industry, funeral homes are a necessary service for many people. Check out online marketplaces, such as BizBuySell, or consult with a business broker to find a funeral home for sale. These businesses can provide a reliable income with recurring customers, as people will always need funeral services.
6. Pest Control Companies – Nobody likes pests in their home or workplace, making pest control companies a reliable business. Look for companies with a strong reputation and existing contracts with commercial clients. You can research online for pest control companies that are for sale, ask around your local community, or even check with local exterminators. These businesses can provide a steady income with recurring customers, as pests are something that always need to be taken care of.
7. Car Washes – A simple yet steady business, car washes are always in demand. Search online for businesses for sale, check with local car wash suppliers or consult with a business broker in your area. These businesses can provide a steady income with recurring customers, who need their vehicles to be cleaned on a regular basis.
8. Landscaping Companies – With the rise of eco-consciousness, more people are looking for sustainable landscaping services. Consider purchasing an established landscaping company with a good reputation. You can research online for landscaping companies that are for sale or consult with a business broker. These businesses can provide a steady income with recurring customers, as people will always need landscaping services.
9. Vending Machine Businesses – Although not the most exciting industry, vending machine businesses can be low-maintenance and consistent. Look for businesses for sale online, check with local vending machine suppliers, or consult with a business broker. These businesses can provide a steady income with recurring customers, who need snacks and drinks on a regular basis.
How Do You Pay For a “Boring” Business with Little Money
When it comes to purchasing boring businesses, there are a few options for payment. You could pay cash upfront, finance the purchase through a bank loan, or use seller financing. Seller financing involves the seller of the business acting as the lender, with the buyer making payments over time. It’s important to consider all of your options and choose the one that makes the most sense for your financial situation.
What is Seller Financing?
Seller financing is a method of purchasing a business in which the seller provides a loan to the buyer to cover part or all of the purchase price. In this scenario, the buyer makes payments to the seller over time, typically with interest.
Seller financing can be an attractive option for buyers who may not qualify for traditional bank loans or who want to avoid the costs of borrowing from a bank. It can also benefit sellers by making their business more attractive to potential buyers and providing a steady stream of income from the sale.
However, it’s important to note that seller financing arrangements can be complex and may require legal assistance to ensure that both parties are protected. Before entering into a seller financing agreement, it’s important for buyers and sellers to carefully consider the terms and risks involved.
If you choose seller financing, here are a few steps to close the deal:
1. Agree on the terms – You and the seller need to agree on the purchase price, interest rate, and repayment schedule. It’s important to have a lawyer review the agreement to ensure that it’s legally binding.
2. Conduct due diligence – Before finalizing the deal, you need to conduct due diligence on the business. This includes reviewing financial records, contracts, and any other important documents.
3. Sign the agreement – Once you and the seller have agreed on the terms and completed due diligence, it’s time to sign the agreement. Make sure that all parties sign and date the agreement.
4. Make payments – Once the agreement is signed, you need to make payments according to the repayment schedule. It’s important to keep accurate records of all payments.
Where Do I Find a Boring Business For Sale?
To find businesses for sale, check online marketplaces such as BizBuySell, Craigslist, or Facebook Marketplace. You can also consult with a business broker, who can help you find businesses for sale in your area. It’s important to do your research and make sure that you’re investing in a business that has a good reputation, established customer base, and a steady income stream.
How Do I Buy an Online Business?
Most boring businesses are essential to physical society but some exist online. Consider purchasing and online business that maybe follows a simple structure, like an affiliate blog.
Before you buy any business, it’s important to conduct thorough due diligence to ensure that the business is profitable and has a solid growth potential. This involves analyzing the website’s traffic and revenue data, examining the business’s marketing strategies, and evaluating the competition.
Once you’ve found an online business that meets your criteria, you’ll need to negotiate a purchase price, determine the transfer of ownership, and address any legal issues that may arise. It’s important to carefully consider the terms and risks involved in buying an online business to make sure it’s the right decision for you.
While buying an online business may not be as glamorous as starting your own business from scratch, it can be a lucrative option for those who want to skip the initial set-up and branding stages. With careful consideration and planning, buying an online business can be a great way to achieve your entrepreneurial goals.
In Closing …
Investing boring businesses may not be the most exciting venture, but it can provide a steady income and a reliable customer base. Consider these 9 boring businesses for sale in 2023 and start your journey as a business owner today!