Here is SurvivalBlog’s News From The American Redoubt. This weekly column features news stories and event announcements from around the American Redoubt region. We also mention companies of interest to preppers that are located in the region. The emphasis this week is on some prospects for buying a business in the American Redoubt.
Region-Wide (Buying a Business):
I recently had consulting client ask me for suggestions on “how to make the break” and move to American Redoubt. He mentioned that he found there were very few Redoubt region job listings in his current technical occupation. Next, he asked about starting a business, or buying an existing business. I recommended buying a business with an existing clientele. Why? As baby boomers reach retirement age, there will be a lot of thriving businesses that come up for sale. They often already have and established name and good will built up in a community. Nothing succeeds like success.
You may ask: “Well, what sort of businesses are up for sale, at reasonable prices?” Up until that call with my client, I had only heard of a couple of businesses, by word of mouth. So I made some inquiries with friends, and I did some web searches. I was surprised at what I found so quickly. Here are some examples:
- A pair of computer sales and service shops in Coeur d’Alene, Idaho and Pinehurst, Idaho, for $175,000.
- A used book store in Moscow, Idaho for $235,000 (including $185,000 in inventory.)
- A home-based self-sufficiency and preparedness mailorder and web publishing business that can be located anywhere in the United States.
- A fastener/construction supply business in Victor, Idaho (Grand Tetons region) for $143,450 (inventory included.)
- The Boulder Monitor weekly newspaper for sale for $102,500.
- A storage company with three locations is in eastern Oregon is for sale for $550,000. (Two locations in La Grande, one in Union.)
- A home-based bicycle repair and sales business in Troy, Montana, for just $5,000. It can be operated from a home 2-car garage space (as it is now), or potentially expanded into storefront space. This is a 40-year established repair business with regular customers from Troy, Libby, and the Yaak River region. Phone: (406) 295-4381.
- The Prairie Peddler gift store and coffee bar in Shelby, Montana is being offered for $150,000. The building is not included, but all the inventory is.
- A multi-generational furniture store in Butte, Montana is up for sale.
- The owners of the popular Pandhandler Pies in Sandpoint, Idaho are looking for a buyer.
- A countertop sales business in Bend, Oregon is up for sale for $550,000.
Don’t be alarmed if you are asked to sign a non-disclosure agreement (NDA) before even being told the name or location of a business. That has become standard practice.
Beware of scam businesses listed for sale that are actually just multi-level marketing schemes. Also be leery of any franchises with a high cost of entry or that would have nearby competition. Remember: Any successful business must find a need, and fill it. Do NOT start a new business that competes with an existing local business. You are much better off buying a thriving business with a good cash flow.
Do your homework. Different sorts of businesses sell for vastly different sums. But the general rule is that you’ll have to pay the equivalent of at least 2 or 3 years worth of annual earnings. And it it is generally better to buy a business from someone who is retiring. That way, they are more likely to throw in more to sweeten the deal, and they will be less likely to be in competition with you. (But getting the seller to sign a five-year non-compete agreement is always a good idea.)
It is often best to find a legitimate business brokerage firm, such as Lewis Business Alliance in Eastern Washington, Arthur Berry in Idaho, or Yellowstone Business Acquisitions in Wyoming and Montana.
Please let me know if you hear of small businesses that come up for sale in the Redoubt region, and I will likely mention them in this column. Thanks, – JWR
Back in January, we read: Idaho ‘Pushing Envelope’ With Health Insurance Plan. Can It Do That? Now, there is this (written from the statist NPR’s perspective): Idaho Insurer Moves Ahead With Health Plans That Flout Federal Rules. One historical note: If it had been described in modern parlance, the Boston Tea Party would be called “crazypants illegal.”
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Montana Scores $250 Million Bitcoin Mining Campus. JWR’s Comments: The second such announcement in a month. These developments are on the coat-tails of a huge extant operation in a Bonner, Montana. Not only does the Redoubt have inexpensive hydroelectric power, but state and local government ambitions to tax private ventures are modest. I hope that the Redoubt Doubters take note. The Winds of Change are shifting, rapidly.
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After first burglary sentencing, Morrow County co-defendants change plea. You’ve gotta love this Redoubtable quote from the article: “The couple also stole a vehicle and tried to ditch it on TREO Ranches, private property outside Heppner that offers pheasant and chukar hunting. Arce and Devin tried to set fire to the vehicle, according to court documents, and the commotion drew the attention of a crew of pheasant hunters who soon detained them at gunpoint until law enforcement arrived.”
Reader Peter S. sent us this news of leftist wackiness: Stuckart proposes gun tax to fund mental health services in Spokane. (In case you were wondering: Yes, City Council President Ben Stuckart is a dedicated Democrat. His proposal conflates gun ownership with mental illness. How about taxing the SSRI drugs that destabilize these loonie shooters, instead?)