Is it wise to buy multiple businesses at the same time?

by a searcher from Xavier University of Louisiana

1 year ago

I own a small medical supply store in Houston, TX and I have an opportunity to buy a hardware store in Houston, TX. Both have store managers and I'm not the type to micromanage but can one manage 2 stores at opposite ends of the city at the same time? What are the pros and cons?

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searcher from Pontifícia Universidade Católica de Campinas

You can buy multiple businesses if you have a system and SOPs that you can put in place from day 1. If the businesses are operated similarly, it will be easier for you to manage and make both of them grow. Think about the investors in Shark Tank. They usually only invest in businesses that they have a roadmap to make them grow. The roadmap includes systems & expertise in the field. Like this, the sharks almost have an assurance of success for the business they invest in.

1 year ago | like reply | 0 likes

professional from University of Southern California - Marshall School of Business

K.I.S.S. Keep-It-Simple-Searchers.

1 year ago | like reply | 0 likes

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