Whether it is a digital business or a traditional brick-and-mortar store, taking it to a stable ground requires extensive monetary and non-monetary efforts. The initial setup is a challenge but converting a company to a profitable establishment is a milestone that not many entrepreneurs are able to achieve. There are thousands of business-minded people all across the globe who are struggling to build their setups from scratch.
Rick Latona, a domain sales professional, is one of those entrepreneurs who build their businesses from ground zero and do not give up. In 2008, during the recession period, Rick was hit by a major financial crisis. His positive attitude and the wish to try new things persuaded him to put all his left-over savings into building an understanding of business. He left the domain sales and decided to enter the Harvard Business School (HBS). He graduated with enthusiasm to start something new, thus the birth of Latona’s LLC.
What’s new about Latona’s? It is a merger’s and acquisition company and a businesses brokerage firm but what set’s it apart is the direction that it has taken. The company has been set up to target internet and digital businesses. The digital nomads who are looking for opportunities to sell their business through a platform that understands their digital business model have a business brokerage firm to depend on with Rick Latona’s company. Not only this, but even aspiring entrepreneurs who want to build their businesses but want to bypass the phase of the struggle of setting up can invest in the right digital business.
Changing the Face of Business Brokerage Industry
There are thousands of business brokerage firms that provide a platform to both well-established business owners and aspiring entrepreneurs to sell and purchase businesses, but there are few that solely focus on digital businesses.
Rick Latona founded Latona’s LLC after a thorough analysis of the market during the recession. He realized that there was a need to build a platform that could help with the selling and purchasing of internet businesses.
He stated, “It is our opinion that the market won’t recover any time soon if it recovers at all. We feel that domains just aren’t worth that much anymore, and the only way to sell one for a significant amount is to get a little lucky. Many domainers take the “land mine” approach. Meaning, the more domains they have, the more likely someone will step on one of them. This is expensive and ties up a lot of capital.”
It was due to that scenario that he diverted his attention to digital setups, “That’s why we’ve broadened our focus to web properties as a whole but narrowed it at the same time to only properties that generate cash flow and nothing that has an asking price of more than five times annual earnings.”
The primary focus of this company is on cash flow positive digital assets. The current portfolio of the company comprises of Amazon FBA Businesses, SaaS-based companies, content websites, eCommerce businesses, lead generation enterprises, and domain name portfolios.
Starting from Scratch
Latona’s LLC, based in Puerto Rico, was started as a small-scale startup. He talked about his business model and clearly stated his priorities in the following words, “We here at Latona’s aren’t about to go back to building a huge portfolio and waiting patiently for buyers to come to us. It just isn’t our style.”
The first business that Latona’s LLC. sold was a Lasagne Recipe Blog. Even though it was a small-scale website, it helped the company establish an identity in the industry. Starting slow, this company began with $15,000 businesses and was operating as a domain name seller. As Rick acquired an understanding of the industry, it gradually expanded its portfolio. After establishing the company as a website broker, the company started dealing with $2M internet businesses. It then transitioned into business brokers to business acquisition broker when it started to include $20M businesses in its portfolio.
Rapidly Making its Way to the Top
Many business owners want their identity to stay hidden until they find the right buyer. Latona’s LLC., a company with a team of extensively experienced business brokers, realize its importance. The listings at the Latona’s website are generic and do not disclose the real identity of the companies. It is a feature that attracts many business owners to trust this company.
The company started small, but the way it is addressing the needs of digital nomads, it is making its way to the top in the industry. At present Latona’s has more than 35,000 subscribers to its weekly newsletters, and it even has a growing network of clients. The merger’s and acquisition firm, run under the supervision of Rick Latona, is establishing itself as one of the most trusted business brokerage firms among digital business owners!