When Jay Haussman from Bend, Oregon bought Tattooing 101 on Flippa, running the tattoo business would prove to be a more valuable learning experience than any formal business education he ever received.
Before then, the former navy mechanical engineer started his entrepreneurial journey by offering free tattooing services to shipmates and dabbling in a few dropshipping endeavors.
However, these ventures didn’t prove to be as lucrative as owning the online tattoo education business he bought on Flippa.
Finding the Right Business to Acquire on Flippa
It was only fitting that the journey from tattoo artist to owning Tattooing 101 happened organically: the business was in an industry he enjoyed, and almost immediately, he hit it off with the seller.
Jay browsed through an entire spectrum of assets available, ranging from content, apps, Ecommerce, and more, discovering assets suitable for those just starting off in the digital acquisition space, and more higher valued assets in the thousands and millions.
After a thorough assessment of the potential risks and possibilities of low return, he decided to acquire a business.
“With Flippa, you can look at thousands of businesses – look at their model, and look at what their structure is. That’s how I eventually found Tattooing 101.
For me at the time, it was kind of a big leap to take that chance.”Jay, Flippa buyer and seller.
Taking Calculated Risks
It helped tremendously that the business owner showed him the ins-and-out of the asset, and after Flippa provided thorough due diligence, Jay felt confident that the tattoo business was in line with where he wanted to be.
He framed it this way: Flippa being the #1 trusted marketplace to buy and sell digital assets was analogous to eBay as a marketplace to sell antiques and Amazon as a one-stop shop for books.
Jay understood the space was trusted, so he went for it.
“I think getting where I was comfortable, which for me was a reach at $10,000 to acquire this asset,” he says.
Learning by Doing
Diving in without a rulebook paved the way to developing a business strategy.
For example, if he came across an issue with SEO, he’d learn the necessary skills to expand his optimization reach.
“I was looking at what was working well and what I could improve upon,” Jay says. “Scaling the asset after I acquired it – it was looking at the pieces that were already there.”
Ultimately, Jay decided to sell his tattooing business as he grew weary of running the technical aspects of the business and wanted to transition more to general marketing.
Selling for 10x the Initial Acquisition Cost
When he sold Tattooing 101, the business closed for roughly 10 times more than what he initially acquired it for.
“Acquiring something already in motion on Flippa gave me the foundation to build on top of, and take me where I am today. Not just financially, but in terms of lifestyle as well,” says Jay. “Flippa has changed my life.”
“Acquiring something already in motion on Flippa gave me the foundation to build on top of, and take me where I am today. Not just financially, but in terms of lifestyle as well.”Jay, Flippa buyer and seller.
Today, you can find the Bend, Oregon resident running a marketing consulting agency.
Inspired by this story? Read up on others who have successfully bought and sold their businesses here.
Like this buyer and seller, you too can master proper buyer and seller communications etiquette. We’ll show you how to that here.