Buying strategies for a sub-million budget with Nunzio Presta
“Our users are not looking to start the next snapchat or Instagram. They’re looking for something that makes them happy, something they’re passionate about and provides them with that purpose to get up everyday and provide for their family.”
Nunzio Presta went from an abrupt end to a promising professional hockey career when the team that signed him in Europe suddenly went bankrupt to a life of entrepreneurship. He attended the Ted Rogers School of Business at Ryerson Universityas a mature student where he got through in record time and also launched a successful eCommerce start-up. Wanting something more, he went to sell his business and found that the options to do so were abysmal. Then he noticed three other important trends:
1. The amount of baby boomers looking to retire
2.The millennial mindset shift shedding the comfort of the 9 to 5 and embracing independence
3. The increase in franchising overall - roughly 1 in 4 Canadians are franchised owners
These people needed a professional platform to find one another... so myBizOn.com was born.
MyBizOn is an online marketplace focused on creating an independent experience for it's users, but does so in a seamless, resourceful and supportive fashion. It has since carved out an impressive niche with an average transaction value of $350-400k per deal.
It is an ideal source of deal flow for high volume brokers, franchisors seeking quality franchisees, people looking to use a business acquisition as a means to emigrate to Can/US/Aus, underfunded founders seeing capital and partners, and those with acquisition budgets under $1 million.
So listen in as we discuss our business philosophies, entrepreneurial mindsets, success principles, how to finance your purchase, and why one would want to buy a business instead of starting one from stratch.
Oh... and you might get to find out what he'd cook if Richard Branson ever showed up for dinner.