Last year I was in a full pursuit. I was looking for a company to buy and all I cared about was that the financials were strong. It could have been in Springville OH, or Sioux Falls SD, or Los Angeles CA. I had ended up on a auto body shop. Honestly I didn't know exactly what an auto body shop was entirely when I started looking at it. I knew it wasn't an auto repair shop, at least I thought I knew that. But turned out it did do some auto repair work when it could, and of course an auto body shop's main business is - you guessed it - fixing the bodies of autos that get in accidents. Still, in any business there are nuances. There are places money may be coming from, or going to that you might not guess if you don't understand the business specifically. So I called my friend who owned an auto repair shop. I knew he worked with auto body shops in the area, and had done so for decades, so regardless of just how versed he was on auto body, it was going to be more than I was.
It turned out I didn't buy the business. It was good but it was going for a million and I came across something more in my field and a bit more in my price range. It looked perfect. But within 6 months, I would have lost both...
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