Have a mint company - acquistion

The Snowball - "warren had strong views about specialization: he defined his special skills as thinking and making money".

Specialization has been introduced and reintroduced to me. I challenged this idea of one only being a blacksmith, especially in skill. Surely a blacksmith, with such talent would master anything he set out to do.

Have A Mint Vending Company - Acquired 7/23/2010 - Happy Birthday.

The acquisition price and investment $500 cash, assets and cash:
1. Have A Mint Vending Company
2. 6 Machines - 10 total producing heads
3. 3 months cash not collected
4. Established route with 6 customers, no lease or rent. (10% net donation to an organization)

Stated price $400
Acquisition price $500

Why did I pay $100 above asking price.

I purchased the business with inventory and uncollected cash. Maybe its poker yet I felt confident that if I would collect $100.00 from the 10 heads or $20 per head, I would be ahead of the game.

The first Vending machine delivered $59.05. 9 More heads to collect.

A business can only be coined a business based on a "time-frame" of returning capital. I purchased the Have a mint vending company on 7/23 and the business returned 59.05 - 7/24.

$440 to go.

Offered partner 50% of the business for $250. With or without cash is the question. It is more of a discipline than anything else. If you are going to buy a business: make sure its producing (untouched) income, make sure you can sell the assets to recover initial investment, ideally the business should be able to run itself and all you should do is collect money to allocate in opportune areas.

My special skill - taking an idea to earned income in 90 days. At which point a decision can be determined if the business is sustainable.

Total price paid for Have a mint $138.

$362 cash left in company plus assets and inventory.

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