I love wakeboarding and surfing. A lot of my major life decisions were made around being able to do these hobbies more, like moving to Australia and working remotely.
However, when picking an eCommerce business to buy, I didn’t look for a wakeboarding or surfing one.
I learned from some astute business operators that the key is having a business with sound fundamentals. That became the primary thing I was looking for if a wakeboard/surf store fell into that great.
Also, looking for a specific niche limits your choice.
With that said, I decided in my investment thesis (more on that later) the types of business I didn’t want. One of these was cosmetics. As my wife says, “you’re basic with skincare!” By that, she meant I don’t have an interest in it.
You have to pick something that you have some interest in, but it doesn’t have to be your passion.
This will give you a bigger pool to choose from and make it easier to run over the long term.