Codie SanchezFounder @ Contrarian Thinking

How To Buy A Profitable Business For Free #shorts

25 Apr 2023 · 1 min

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0:51

Hidekazu Yokoyama, 73, gave away his profitable business because his kids didn't want it. Japan faces a succession crisis: 630,000 profitable businesses could close by 2025, costing $165 billion and 6.5 million jobs. Established businesses are available for free or cheap if you're willing to take them over.

Questions this video answers

60% of small-business owners in Japan do not have a transition plan

Around 630,000 profitable businesses

About $165 billion and 6.5 million jobs

Chapters

Hidekazu Yokoyama.
Just gave away.
His profitable cash flowing business for free. This business he had been building for more than three decades. Why would he give away a profitable business? The average age of an owner in Japan for a small business is 62. 60% of small business owners in Japan do not have a transition plan and it turns out most of their children don't want to take over the family business. Yokoyama, he was 73 and his kids wanted nothing to do with it. So. So what did he do?
He gifted the business.
I think this could cause one of.
The most devastating.
Recessions in Japan that they have seen today. Japan's Trade Ministry said that by 2025 around 630,000 profitable businesses could close shop.
Costing the economy $165.
Billion and 6.5 million jobs. This is why I talk about buying boring businesses.
If you think that this is just.
A US phenomenon, it's not. It's time for the next generation to take charge here. It's a main street revolution.