Moving To The Middle of Nowhere to Buy a Business

searcher profile

July 05, 2023

by a searcher from The University of Texas at Austin - Red McCombs School of Business in Dallas, TX, USA

Does anyone have experience with this?

I am evaluating a company with great fundamentals and a highly favorable valuation, but would require moving to a town of 10,000 people.

I've only lived in big cities, so this would be quite the change of pace. I'd be leaving all of my friends behind.

Bored in my current role but a little bit concerned this is too far off the reservation.

Would like to hear other searchers experiences in leaving behind everything they knew to go run a company and how they avoided loneliness in the process.

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commentor profile
Reply by a professional
from University of Minnesota in Minneapolis, MN, USA
I grew up in rural South Dakota (where I come from, 10,000 people doesn't even qualify as a small town!). There are pros and cons to small-town life. I don't live in a small town any more, but I wouldn't rule out ever moving back to one.

I would say, based on your post, the biggest problem might be making new friends since small towns tend to have pretty established social circles that can be tough to crack. Another thing to consider is that, if you really hate the small-town life to the point where you want to get out after a year or two, selling the business might be more difficult than if it were in a metro area.

Go visit the town where the business is located and spend a week or so there. I bet it's not as boring as you think.

Good luck!
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Reply by a lender
from Eastern Illinois University in 900 E Diehl Rd, Naperville, IL 60563, USA
I think moving to a small town is much easier today than it was in the past. Many more people are doing it. I did it roughly 25 years ago and it was quite an adjustment. There were some parts of it I really liked and some other parts I did not. But back then technology is not what it is today. If zoom was available and all of the other resources available online, I think it would have been much easier to adapt and stay connected. Also, I do not think it is as hard to find talent. Even if talent does not exist in a small town, you can do a broader search and find more people willing to move for a job today more rural than you would have had in the past. Good luck with your decision.
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