20 - Buying an Online Side Hustle (for Less than $5k)
Most interviews on Acquiring Minds are with entrepreneurs who buy a business or businesses and devote themselves to it full time.
Vivian Chen is different.
She bought a business as a side hustle.
It's an online business in a space that she loves — hospitality — and it offers her a creative outlet, the opportunity to build something for herself rather than for her bosses, and the prospect of self-employment down the road.
And she spent very little money on this business because the previous owner had all but abandoned it.
So the revenue had dropped from around $20,000 a year to almost nothing.
So this was something that Vivian calculated she could grow back to $20,000 a year, or hopefully more, with relatively little effort, and enjoy it as a passion project at the same time.
This is a really cool and growing path for entrepreneurially minded people.
If it interests you, take some action after listening to the episode.
Go to flippa.com or microacquire.com and sign up for free.
These two are the leading sites where online businesses are sold, and you'll receive an email every day with interesting little businesses for sale like the one that Vivian acquired.
And with that, here is Vivian Chen's story.