Since we’ve all been watching the Jordan doc, I’ve been studying what guys from that era are up to. I recently told a very savvy athlete who’s a tech investor that, yes he’s making money in tech (just made a great return in Draftkings) that in addition to cash flow from stocks/bonds, real estate, and capital gains from tech, he should look at buying small or medium size businesses. He could use his capital and balance sheet to acquire businesses doing $1-20M in revenue, and generate annual cashflow in retirement from passive income that could rival his pro salary. I pointed to Vinnie Johnson as an example. Vinnie started a business, but you can also skip that process and acquire one.
According to sportscasting.com, in 1995, Johnson started his own automobile supply company, and he aptly named it the Piston Group. His company was a roaring success from the beginning. The Piston Group soon became the leading supplier of automobile parts to GM, Ford Motor Company, and other major automobile companies. I can see @roddywhite8410 & @mrinman15 doing this.
The Piston Group now has shops in Ohio, Missouri, and Kentucky in addition to Michigan. The company is now one of the world’s largest minority-owned businesses and earns over $3 billion in annual revenue today. Johnson still serves as the Piston Group’s chairman and CEO. His net worth has grown to a staggering $400 million thanks to his entrepreneurial career. He made like $5m total in the NBA. OWNERSHIP is the common theme for athletes that crush it financially post-sports. What types of small businesses are great cashflow companies that are needed and stable?