Your Income Cheat Code: How Buying a Business Changes Everything

There’s a wealth transfer ready to happen right now, but only if you know where to look for it.

A generation of baby boomers built their businesses over decades. Now they're ready to retire. But they can't find buyers.

Which means there are businesses out there right now, with existing customers, existing income, existing systems, waiting for the right person to take them over.

Jeremy Pak has a ringside seat to all of it. He's a chartered accountant and managing director of Velocity Capital, who spends his days helping New Zealanders buy and sell businesses worth millions.

What he's learned about how wealth actually gets built in this country might change how you think about your own options.

In this episode we cover:

• When to buy a business, vs starting one from scratch
• How to fund a business purchase even if you don't have cash sitting around (including vendor finance)
• What Jeremy is seeing in the market, and why he's forecasting a threefold increase in business sales next year
• How to stress test a business before you buy it
• Which types of NZ businesses Jeremy thinks have the potential to earn the most

This episode of Making Cents is proudly supported by Odoo. Go to https://www.odoo.com/r/hpl now and try it for free, for 15 days.

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Production and video editing by Lana Byrne

Audio engineering by Tash Chittock

Filmed by Fanaticals