We Bought a Business That Pays Us $200k/Year (Here's How We Did It)

‼️ FREE 5-Minute Business Plan: 👉 https://5minutebusinessplan.com/ 💸 FREE Business Training: 👉 https://www.millionaireuniversity.com/training What does it take to buy a small business with zero experience? In this episode, Joy Owens shares exactly how she and her husband purchased Butler Travel — a group and humanitarian travel agency doing $7–10M in total sales — with no business background whatsoever. Joy walks through every stage of the process: finding the deal through a personal connection, negotiating the purchase price down to a 2.1x net multiple, navigating the SBA loan process (including getting denied the first time), conducting due diligence, retaining key employees, and keeping clients in the dark during the transition to avoid churn. She also opens up about the costly mistakes she made along the way — from misunderstanding payroll taxes to paying income tax in two states — and what she'd do differently. Whether you're researching how to buy a business, exploring travel agency ownership, or just looking for an honest story about leaving a nine-to-five through entrepreneurship, this episode is packed with real, actionable insight! What we discuss with Joy: 0:00 Introduction: Buying a Small Business With No Experience 0:52 Joy's Background: From Missionaries & Teachers to Entrepreneurs 4:08 The Road to Buying Butler Travel 8:33 First Steps: Meeting the Seller & Evaluating the Business 11:13 Valuation, Negotiation & Deal Structure 16:07 SBA Loan Process: Application, Denial & Approval 20:40 Due Diligence: Finances, Contracts & What to Watch For 30:05 Retaining Key Employees & Overhauling Workflows 36:15 Post-Purchase: Client Transition, Rebranding & Service Improvements 46:17 Revenue Model, Pricing & Marketing Challenges Thank you, Joy! Check out Butler Travel at ⁠ButlerTravel.com⁠: https://butlertravel.com/ Connect with Millionaire University: Facebook: https://www.facebook.com/MillionaireUniversityMU/ Instagram: https://www.instagram.com/millionaire_university_mu/ TikTok: https://www.tiktok.com/@millionaireuniversity_mu Twitter: https://twitter.com/Millionaire_Uni YouTube: https://www.youtube.com/channel/UCyG31bPcrqhbjvGsuz-JaXw #SmallBusiness #BuyABusiness #TravelAgency #SBALoan #Entrepreneur #FinancialIndependence #BusinessAcquisition #MillionaireUniversity