Readit NewsYou're right, the two are often tied together. For now, we're laser-focused on the operating business, the brand, the customers, the cash flow, presence, etc.
We made a conscious decision that if we tried to solve both the business sale and the commercial real estate piece at the same time, we'd do an "okay" job at both.
Our goal for now is to be the absolute best in the world at our part of the puzzle first.
But never say never! We'll keep this in mind, thanks again for the feedback.
That is true but these are two really distinct parts of the ecosystem.
A realtor is fantastic for the 'where' the lease and the physical space. We're all about the 'what' the actual operating business with its brand and cash flow. It's the difference between taking over a location and buying an income stream.
And yes, big franchises are their own walled gardens but our world / approach is the millions of independent businesses, the local coffee shop, the family-owned auto repair that make up the vast majority of the market.
That's the massive slice that's been left behind by modern tech.
I'd be curious just to learn more about who's the typical buyer of brick and mortar local businesses -- not something I've ever thought about
The buyer landscape is more diverse than most poeple think. It's really a mix of a few key groups:
- There's the classic one, the person who's climbed the corporate ladder, has some capital, and wants to buy back control of their own time.
- Then you have the employee who's ready to be the owner. Think of the head cook who wants to buy a restaurant after working at one for 10 years.
- There's also a new wave, partly driven by social media, of people looking for a "low maintenance" business like a laundromat to create cash flow. They quickly find out that even a 'passive' business is a real job, but it's a growing trend.
And on the more sophisticated end, you have roll-up funds and private equity groups who see the massive opportunity in that $10 trillion wealth transfer and are looking to professionalize this space.
To us, it’s honestly a mind-bending cross-section of the economy. Thanks for asking!
personally, having done these kinds of exercises too many times, i think you're over-committing to the two pillzars of "zillow" & "market". zillow is a kind of market, at least in the elastic zone of marketing associations.
& how are you getting the data / verifying from the businesses that are selling.
To answer your first one, we're past ideation and are actively building the data room now. We have the financial data in-house for a large number of listings, this is about writing the code to present it in a secure and dynamic way.
As for where the data comes from, there are two main paths:
- The vast majority of our listings come from direct partnerships with brokerages. We integrate with their systems to sync their inventory, so the data is professionally vetted before it even gets to us.
- For the smaller number of 'For Sale By Owner' listings, it's a manual process for now. We check and reach out to verify the numbers, and we always connect the owner with a professional broker to help guide them, which adds another layer of validation.
So a good rule of thumb on the platform right now, if you see a broker on the listing, they've vetted thoroughly the data.
It's in our roadmap to automate the process for sell by owner case so that we can hook directly integrate with accounting / tax / hr software and present live numbers.
lots of work to do but making good progress!