We The People (Aired 09-26-25) Dennis Burke on Politics, Economy and the American Dream

[00:00:03] Speaker A: Getting back to our origin of we the People, tackling current issues, both political and legal, with common sense. As we the People, we must bring common sense back to make our lives better. Only on NOW Media tv. [00:00:22] Speaker B: Welcome to we the People. I'm your host, Alina Gonzalez Dockery. On this show, we explore the real issues affecting everyday people and business owners while uncovering solutions that matter. Today, I am thrilled to be rejoined by a prior guest, Dennis Burke, a lifelong entrepreneur with an incredible story. Born on a remote island off the southern coast of Ireland, Dennis immigrated to the United States in 1986. Over the last three decades, he has built a successful career as an investor, developer and broker with a strong focus on real estate in Florida's Sarasota, Bradenton area. With both an MBA and a doctorate in business, Dennis is passionate about helping others learn, grow and succeed. And he is the proud founder of Property Wise Guys. Dennis, thank you so much for coming on the show and welcome. [00:01:22] Speaker C: Alina I'm so happy to be back and thank you for having me. [00:01:26] Speaker B: Dennis, I know we were talking off camera. Politics feels like a distant game of power, almost like a game of thrones, if you will. And yet the politicians, whether they're on the state level or up in D.C. their decisions directly affect our pocketbooks, our rights, the future of our children, even our the ability or non ability to obtain property. So and especially and I know that we talked like off camera in light of all of these political debates, whether it's between the politicians or political figures, if you will, how it most directly affects families. Why do you think that it feels like we are so disconnected from our political leaders as a common person living in Florida or anywhere else in the U.S. [00:02:29] Speaker C: Well, actually I believe that the discourses at the higher level up between the political parties, especially the Democrats, they have lost their direction and their focus and so they picked a path to just find something wrong with how everything is moving forward at this point. And believe me, there's a lot of things progressing forward. But they find ways to criticize it and they are non cooperative and in the meantime, their ratings have dropped substantially. I think more recently I saw their ratings down in the 20% range. I mean, how do you possibly manage, manage to get your influence accepted in society if you have your rating so low and you are not a cooperative group of people or a party that wants to go along with and subscribe to good things for everyday Americans in our society, regardless if President Trump approves or don't approve or whether Congress approves or don't approve I think that cooperative spirit would be more ideal than tensions and frictions and combativeness, because that's what we're seeing mostly in the media at the moment between Democrats and Republicans and unfortunately is leading itself more and more toward aggressive behavior. Both not only peaceful marches, they're not peaceful anymore. There's a lot of aggression on the streets. And because of that, the president has had to send in the National Guard to fix a lot of these problems and try and clean up cities. So I believe that the issue is not really with the ordinary citizen trying to make a living, trying to own a business and operate a business, or trying to acquire a piece of real estate and manage that piece of real estate. I think the issue is at the higher tier level between the political parties and the individuals that are involved. [00:04:35] Speaker B: I, you know, I absolutely agree, and I have been on a soapbox for over 20 years now saying that there has been a definite breakdown in both parties. And it's more prevalent now since 2015, 2016, when Trump emerged on the political scene and sadly, the demo. I do feel the Democrat Party has lost their way. And I have said this in prior shows in my op eds, in that the Democratic Party used to be a party of Kennedy, a party of even Bill Clinton. If you were to look back in the 90s where it was reaching across aisles, talking, yes, debate your, each of your positions, you may be absolutely opposed to one thing or another, but somehow through negotiations, through open discussions and also showing decorum and civility for the other side, that they, that ultimately the one goal is what is in the best interest of the United States. And I personally feel that. And you can look at some parts of both parties at one point, but it, it's that retention of power, the fact that when one person is elected, they're already working on their reelection to maintain that power. But as at least, in my opinion, what's happening with at least the mainstream Democrats is they have shifted so much to placate this very loud, boisterous, vitriolic extremism that for many that were once registered as Democrats or aligned as Democrats, feel like they have lost a party. And I can see that, I can see it even when I look at congressional committee meetings and there's just insults being hurled and, and not the willingness to allow open debate. And, and these are supposed to be our political leaders. I mean, let's face it, there's, they're supposed to be setting an example of how we can have discourse, we can have communication, we can debate opposing opinions, but ultimately, we should all the, especially the leaders, their goal is what is in the best interest of all Americans, not just how do I get clicks and, and be an influencer. [00:07:15] Speaker C: So I would agree with, I would agree with you that there's a, I mean there's a lot of not common sense stuff going on at this minute. And I think that the, the biggest issue we're starting to see is that people are getting killed over this. I'm not talking about just everyday people on the street. You know, Charlie Kirk is the example. I can't say I knew him personally and I wasn't necessarily a regular follower of his. But then you can also consider the shooting death of the husband and wife Democrat senators, and I believe it was Michigan a few months ago. We've risen to that level. And I just don't think that it's, that it's worth that, you know, that we need to have a more rational way to come together and to be able to make choices and decisions. Be a Republican, be you Democrat, be you Independent, be you gay, be you straight, be whatever it is that you are, whatever your point of view is. You just need to be able to do this without shooting someone or be shot for what you have to say, you know. [00:08:30] Speaker B: Oh, absolutely. And I also think that it is the common sense, common sense would tell you that, okay, it is okay to have differing opinions. I don't agree 100% of the time with what is going on. I can even agree with my own family members 100% of the time. But if we had that, that debate whether I will use my brother, my brother, he's liberal, he's Democrat, I lean very much more moderate. Right. I think I'm probably more of a Reagan Republican and maybe little some. But we can have a discussion, we can have a debate, but you know what, we agree to disagree. We may actually influence each other to go, you know what, you have a point. But bottom line is I respect him immensely. He respects me. We love each other and we can learn from it. And I think that's what I find somewhat disconcerting, that the, the art of discussion, the art of debate, the art of being able to have an individual make up their own mind and not just follow what is rhetoric. And I even see our politicians, and I'm talking about Elizabeth Warren, Warren and others that are jumping on certain bandwagons where just a few years ago they were calling for censorship of people who were anti COVID vaccine or even our then former President Trump being kicked off social media. So it is a dynamic. But I think that one of the things and I did follow Charlie Kirk and was I found him on Tick Tock and I started watching his reels and then I went to his podcast and I enjoyed and it really was more when Vivek joined him. What I found interesting was that he did open that debate in that forum, but he was respectful. You may not believe in everything or agree with everything he said, but one thing he did show was respect, respect for the individual, respect for even the position, even if he, if it was a position he wasn' in agreement with, he would say, you know, it was that respectful discourse. And I think we need more of that and we need that ability to have our leaders also come forward and exemplify that. So I, and I gotta, you know, but as an individual, how do you, how do you feel? You immigrated to this nation, you're, you know, you've been able to have many successes. How can an ordinary citizen hold leaders accountable? [00:11:19] Speaker C: I think the only way you can hold them people at government accountable is in how you choose to vote. When time comes to vote, you either vote people in or you vote people out. But by and large, in your day to day life as you in your case practice law or we do real estate as we do, our focus is our bottom line, trying to make it work, trying to make sure our obligations are covered and to make a good living so we can live a very comfortable lifestyle. That's our focus. And as far as the people in Washington, you're going to hear all about it on MSNBC or you're going to hear about it all on FOX News. But by and large, you can't really go up there and do much about them other then the votes that you the vote you have, you can apply that and you and however you choose, when the time comes, that's about the extent of it. [00:12:15] Speaker B: And I couldn't have said it better myself. I could not have said it before. We'll be right back after this commercial break. And up next, we're going to be diving into the state of the U.S. economy and what families and business owners should be paying attention to right now. Tune right back in foreign. Welcome back to we the People. Want more of what you're watching? Stay connected to we the People and every NOW Media TV favorite live or on demand anytime, download the free Now Media TV app on Roku or iOS and unlock non stop bilingual programming in English and Spanish. Are you on the move? You can also catch the podcast version right from our website www.nowmedia.tv from business and news to lifestyle, culture and beyond. Now, media TV is streaming around the clock. Ready whenever you are. I am here with Dennis Burke. And now we're shifting gears into something that's top of mind for everyone, the US Economy. Families feel it at the grocery store, small businesses feel it in their budgets, and investors feel it in every decision made make so, Dennis, the challenge is that the US Economy feels unpredictable in personal inflation impacts daily life, and uncertainty makes planning difficult. Now I know that the feds finally decided to drop the interest rate 0.25 percentage. From your perspective as an a successful entrepreneur, especially in real estate and in the commercial realm, how healthy is the US Economy right now compared to just a few years ago? [00:14:07] Speaker C: I think you have to ask yourself the question, are you making more money or less money now than you were several years ago? I think that the high pricing, inflation and cost, higher cost of living you refer to was more prevalent during the Biden administration. Whereas in the last six to nine months since the Trump administration took over, I think we're starting to see common things like the price of eggs have come down, the grocery store, the price of gasoline at the pumps has come down, the price of other goods and services has started to decline. And I believe that we're on a tremendous path to a great future. The Trump administration's agenda, to reopen the shipping yards, to open new data centers for AI to attract a massive investment and to expand on our gas, coal and oil sectors. These factors are, these aspects are going to tremendously increase our economy and increase investment in the economy as a result. And therefore, I think we're going to see incredibly robust, like, I mean, massive growth in the next three, four years, at least during the remaining Trump term. Then after that, I hope the momentum keeps going. But for now, we live in the next. We live where we are at this time. I mean, think about the stock market, where it's at. And here recently, in the last couple of weeks, the thing is roaring like a lion. You know, it's gone up and up and up. Now will it go up wherever? And who knows about that? You know, who knows? We don't know. But we do know that there's a lot of positive things working. We know that President Trump went to Qatar and got huge investments for the United States. We know that Apple has made a large investment, I think seems 600 million, Excuse me, billion. I think it was billion with a B. So many other and amazing corporations have made large investments in building new data centers, new, sent new, hiring new employees and building new structures in order to make America more amazing and more powerful than it has ever been before. Something that's unprecedented and historic one and. [00:16:45] Speaker B: I think that is the. You hit the nail on the head. You have these industries like Apple that were going overseas for the cheaper labor, cheaper materials and they are now investing large sums of money, $600 billion, over a half a trillion back into the United States which is creating more jobs, it creates more stability. It also further up levels like STEM based education. It will all. It, it, it will trickle down to even to the point of educational basis because we're going to be attracting more students within our younger youth into more STEM base so that it expands. But also one of the things that I've always, my father has always said that, you know, he came in the 60s and the United States used to be the premier for manufacturing, for advancement in technology and such. So having these companies reinvest. I also am not an expert on tariffs, but I feel based on my, on my observations the tariffs and the tariff negotiations has actually been beneficial as well. Like for the beef industry, where our beef industry is now permitted to sell in, in England, in Great Britain, in other areas. So I do agree with you. I feel that having someone go in and have a business perspective but also looking at the bottom line like how can we make America more financially secure and stable. And I know it's. People will go oh my gosh, she's going to say it. But it is to say that make it great again because it is about that financial stability, the independence, the, the fortitude but also shoring up our foundation so our children have ability to grow into certain industries. And so Dennis, I know your, your expertise is in the real estate market. What are your thoughts on the fact that the feds dropped the interest rate by I believe it was a quarter of a percent. [00:19:04] Speaker C: I mean I think that's a great move because you have to keep in mind that commercial real estate depends a lot on borrowing. I mean whether you're borrowing to buy another, another investment building or whether you're going to renovate and improve the building you just bought a couple of years ago or maybe the loan that you got five years ago, that's coming up, the five year balloon is coming up. The cost to capital could make it less profitable for you to do any of the above and might incentivize you from buying that building, renovate the building or doing some other things with the property. However, as interest rates start to come down, I recognize the quarter point is a grateful percentage amount. But it does appear like that over the next six months we might even see as much as an entire point come. That would be a quarter, a quarter and a quarter again over probably between now and March of next year. And as interest rates come down and the cost of capital becomes less, more people can borrow more. And of course, if money is managed wisely, borrowing more is not a bad thing if invested correctly. But of course, we don't borrow more money to waste or misuse the money we borrowed for purposeful use. And so under those conditions, at a lesser cost of capital, we can grow the real estate industry by demand. More people will go out and buy buildings and be willing to pay higher prices for them as the cost of money becomes less and as money becomes more available, meaning less regulations and rules surrounding it, then that also will help increase the value of buildings and encourage more people to go out and make real estate investments. So to answer your question about lower interest rates, I think it's a phenomenal thing because more people are going to spend more money. [00:21:19] Speaker B: Well, and also makes it more attractive for, say, for people to be able to purchase homes and such because I know some people are looking at seven, seven and a half percent interest rate and mortgage and now with it getting lowered, it's going to get more to a reasonable amount. Maybe not. And who knows, maybe we'll go back down to the 2% interest rate. Dennis before we move on to our commercial break, where can viewers get to learn more about your work and insights, whether it's for capital or commerc commercial real estate or just want to know how they can get a hold of you and get some more sage advice. [00:21:57] Speaker C: Depends what they want me to do for them. So for instance, we have a brokerage that specializes in helping people buy and sell businesses. And if someone wants to sell a business or buy a business, I can be reached at Dennis that's Dennis with one name, by the way, at businessbrokerworld.com that's Dennis at businessbrokerworld.com or my phone number is 941-224-389-39412243893. Now, if you want to buy or sell real estate, I specialize in commercial buildings, mixed use office, retail, warehouse. You could reach me on the same number on the same email address and. [00:22:47] Speaker B: That is through your commercial Real estate is the Property Wise Guys, is that correct? [00:22:51] Speaker C: The Property Wise Guys is a separate company. [00:22:54] Speaker B: Oh, it's a separate, separate company. [00:22:57] Speaker C: We decided we'd keep real estate as a commodity, separate from business acquisitions and sales. And we it's something that my son and my wife set up together because we, she and I have been in real estate for 33 years. And in the early days we did apartments. 15 years we did apartments. And now we only do commercial. We don't do any apartments at all. [00:23:28] Speaker B: Okay. And by the way, I just have to say I love that this is a family business and something you started with your lovely wife. It shows that true partnerships can be both strong in the, in, in the marital home and as well as entrepreneurship. Tune right back in and we will go further into talking about business brokerage with Dennis and the ins and outs of buying and selling a business and why it represents the American dream for so many people. Welcome back to we the people. I'm here with Dennis Burke. And in this segment we're going we're diving into the process of buying and selling business. For many, owning a business is the ultimate American dream. But entering or exiting that dream can feel overwhelming. So many buyers and sellers often make costly mistakes, either undervaluing businesses, letting emotions cloud judgment, or misjudging the timing. So, Dennis, this is right up your alley and your expertise. What are some of the most common mistakes sellers of businesses make when putting their, their businesses on the market? [00:24:44] Speaker C: I would say some of the common mistakes they make is that they don't understand the process. There's about a 12 step process to selling a business and sometimes the sellers believe that they already know how it works, but they don't know how it works. And the mistake is, is that if you don't hire the right broker with the right experience and background in the sale of businesses, you could leave money on the table and you could go through a whole process with a prospective buyer, in fact, entirely blow the whole sale because you don't know the process of how it works. Many times people sell the business a lot less than what it's worth because they just don't know. And so the advice I guess would be is to hire the right broker, find the right person, just like you'd find the right lawyer to defend you in a court of law. And if you're a criminal, you'd find the right attorney, criminal defense lawyer, and if it's an eviction case, you'd find the right attorney for eviction. And it's the same in business sales. You would find the right broker that knows exactly what you are wanting to sell. And they do. The broker does all the analysis on the business of tax returns and financials and then they Come up with what we call range of value because there's a lot of subject, subjectivity to it. And so from there you end up agreeing with the seller or seller and broker agreeing to at least a market asking price. And from, from there we just go with it. You know, we decide who shows up, who's qualified, who has the proof of funds and who makes offers. I mean, it's not, I mean, it sounds like the way I present it is very simple, but it's not that simple. [00:26:33] Speaker B: Well, I'm sure it's not, especially under the business valuation. It sounds to me that you would have to do a detailed analysis. And that's why it is so important to have an expert business broker such as yourself be able to assist those sellers. So oftentimes, let's just say it's a small business owner, they start off and they have grown their business, you know, to a nice size. And some people look at their businesses as if it's their child, this is their baby. They put their heart and soul into it. And when you are representing someone in a business cell, how do you manage the emotions that may play in the business transactions and how do you help your clients keep that from clouding their judgment? Especially when it could be a very good deal or, or you know, a, a getting more money for the value of their business versus less? [00:27:36] Speaker C: I think where there's a high level of emotion involved, money sometimes is not the entire factor. The motion takes control over the people. And what I find is where you have older people north of 65 or 70 years of age that have owned a business for 25 or 30 years and, and where the adult children just absolutely have no interest in the business and running the business or owning it, the parents are left on their own to make a lot of the decisions. And you are correct, there can be a lot of emotion, especially a lot of attachment because they've been doing it for so long, they've built so many relationships, gotten to know so many people. It's not easy letting go. But usually something comes in the, in the path to promote the decision and ours, something that motivates the people either because of a health issue or because people are just not physically capable any longer to work 12 hours a day running the business, are being there seven days a week, or maybe there's a, a money issue that they need more money for their retirement and they just do need to sell and they need to sell in a timely manner. So those factors, those necessity factors to sell, those motivating things that people need to do ultimately, I think over overtake the idea of having that heartfelt emotional connection and people do eventually end up selling because of that. [00:29:22] Speaker B: Well, and can you share a story where a business deal changed someone's life, whether it's from the buyer's perspective or it was a seller of a business? [00:29:32] Speaker C: Do you mean change the life in a good way or a bad way? [00:29:35] Speaker B: Yes, or either way. What would be a less a life lesson? So maybe we can start off with a good way and next time we can say, okay, these are the lessons. In the next segment you could say, here's some lessons that you can learn from another story. But how one can be beneficial because I think that it's true what you said. You should go to the right expert who has the, in, you know, the knowledge experience in that, you know, in that specific industry. So I would imagine through the years that you have been doing this that there must be an amazing positive story that you can share. [00:30:14] Speaker C: So many of the people we've dealt with in the last 11 years are coming from another country. Canadians have an easy time, easier time because they speak obviously great English. But it's, it's people coming from Asian countries, South American countries, or maybe people coming from parts of Europe that English is not their first language and they are not familiar with business and culture of America. They go up, they've seen what they've seen on the television. But in real world America, everyday life is not how it is on the television. So the people make a decision to come to America. And so there is a visa program that allows them to do that come legally. It's called E for elephant. And the number two, that's E2 visa, and that's an investor visa. And people can spend anywhere from 100 to 250,000, buy a business and go through the process with an attorney. Attorney fills in all the documents, writes the business plan that's required to package for the package to go to the immigration and other aspects, set up the llc, do all of the different paperwork required by ice. I guess Department of Homeland Security might be the ones that handle that. However, we have a story of people who came from Italy. It's two adults, husband and wife with two children. There were maybe nine and 11 at the time. And one of the favorite things people like to buy in America for their visa is a restaurant. I would say out of 10 people, six or seven people buy a restaurant. Restaurants in America are not easy to operate. And there's a lot of variables to owning a restaurant. It's High risk. And so. But the people came from other backgrounds, had the drive and the passion to succeed, the desire to succeed. And the main thing people come to America for, the biggest motivation is they want to send their children to American schools to learn fluent English and to be able to function excellently in, in our culture, in our way of life here. So this particular family came from Italy. And from Italy, it takes about 12 to 16 weeks to get your visa, but you do have to buy that business. And with the contract of the business in hand and a copy of the lease that you have with the landlord, among all the other documents, you move through the process to get the visa. And in this case, the family moved here, they moved their money, sold their house in Italy, and still this, till this day, about seven or eight years later, they're still running that business in Sarasota, Florida. And it's amazing success. The children went to go into school, went on to college here. I mean, they accomplished great things. Dad didn't speak any English when he came. Dad now speaks great English. Mom spoke a little bit of English, but she speaks perfect English as well. And so I think these depict the success stories of people coming from other countries coming here. And not only that, we have to credit our government for having a treaty with so many other international countries that enables people have a legal path to come here. And it's this program called the E2 visa. [00:33:51] Speaker B: I love that because in many ways you're helping others to, to, to build into that American dream and, and be able to provide for their children. And look at these, you know, these young children, they grew up, they're now going and continuing their education. And it is one of those success stories that we are very blessed to have those opportunities in this nation. And I have to give kudos to your clients because the restaurant industry is one of the most challenging industries to get into and to be successful, especially for, for, for what did you say, 10 to 11 years? I mean, that, that's, that's an homage to them as well and their dedication to success. We'll be right back. And up next, I'm going to ask Dennis further more information, you know, to, to share his vast wealth of knowledge and experience in how building businesses, making sure that you are value, that your business is going to thrive for lasting wealth and how to get started in this and also to share maybe some more insights in how beneficial immigrants are to our nation, to our economy, and to our culture. Tune right back in. Welcome back to we the People. Don't miss a second of this show or any of your NOW Media TV favorites streaming live and on demand whenever and wherever you want. Grab the free Now Media TV app on Roku or on iOS and enjoy instant access to our lineup of bilingual programs in both English and Spanish. Prefer podcasts? Listen to we people on the go anytime on Now Media TV website at www.nowmedia TV covering business, breaking news, lifestyle, culture, more Now Media TV is available 24 7, so the stories you care about are always within reach. So welcome back to we the People. In our final segment, we're going to continue tackling some of the challenges and success stories that Dennis has has experienced and guided business owners through and his years as a business broker. So Dennis, we we we ended the last segment with an amazing story of an Italian couple come over to the US with their business. What are some of the like words of wisdom or steps that people can take to better prepare themselves before initiating the assistance of a broker to to obtain a new business? [00:37:06] Speaker C: I think the biggest issue we run into with sellers, assuming it's sellers in this case, many times they don't maintain good books and records. They use their business kind of like their piggy bank. And there's often many times commingling of funds between their personal money and the business money. And even in some cases all the money is just in one account, for instance. And so when it comes time to sell the business, they either don't have really very good books or they don't want to show you the bad books that they have, or they don't, they don't show much money. Maybe that's the reason why they don't want to show books because they don't have they took all the money out. And so I would say for sellers, especially on really small business, small businesses under 500,000 a year in revenue, they just a lot of times struggle to show how much they're making. And so a business is sold on the basis of a multiplier of cash flow. And if you don't show that much money, even if you tell me you took out 100,000, I have no way to verify that. I have to gauge the value of the business based on the cash flow for what you are showing. And so that's the biggest issue for sellers. Now on the buyer side, I would say the number one issue on the buyer side is that a lot of people want to buy a business and oftentimes it's because someone told them owning your own business is a great idea. It's a phenomenon that's Instilled in people, their friends tell them, hey buddy, you should buy a business. You quit your job and buy a business. But what the problem is is that people don't know what kind of business. You know, many times they don't think about that. It requires money to buy a business. And so where do they get the money? Like they need equity, they need 50, 100,000, 200,000 as a down payment in many cases. And so if you don't know, it's kind of like a journey. If you don't know the journey, where you're going, what your destination is and when you anticipate arriving can be a serious problem. So a business broker is left trying to weed through what people think they want or don't want. And it makes it quite difficult because we don't make a lot of, we don't produce a lot of results in the short term unless you give me a clear path. I want to buy trucking company with four trucks doing a million dollars a year that operates in the midwestern United States. And you, unless you give me like clear enough directions, I have no way to filter through what you want. How could I wouldn't need, I would not automatically know. And so we have tried this in different states with people and buying a business is a very persevering effort. And what, what I discovered is that you send out a questionnaire of source, like what kind of business, how much capital, you know, how are you going to fund the business, this and so on, and go through all but many times the people never send you back the questionnaire. So you're at a loss, you don't know and then they disappear in a short while. Now that's not true in all cases, but that's true in a lot of cases because people don't want to put the will and perseverance in and take time to go through all the steps that it takes to be able to find businesses that work for them and that they can make a bona fide good business decision to opt to buy one or the other or maybe buy multiple businesses. But usually people want to buy one business in one sector. When I meet them initially, they don't know what they want to do. And that's a dilemma. [00:41:13] Speaker B: So I guess the first order businesses, if you're looking to buy a business, figure out, do your research prior to coming to you and know where what industry and what your interest lies. And okay, so you may appreciate this. So one of the things that you'll see pop up and I'll Pop up, you know, whether it's in a feed or a newsfeed or something. It's one of the suggestions is, oh, you have all of these family business, that's that older people, as you stated in, in our previous segments, that want to sell off their business like a dry cleaner. Like someone was saying, oh, the best business to go into is dry cleaning. I know I use a dry cleaner. I don't feel that I personally would be able to because I don't have knowledge of what it takes to run a dry cleaner. What are the, you know, regulations involved and such. So would you say it would probably be best to stick to what your passion is and what you're, where you have knowledge and experience, or should you just roll the dice and say, you know what, I have money, I want to buy a dry cleaner. And we kind of learn on the fly. [00:42:27] Speaker C: I think that you, you could pick any business you wanted, but passion definitely matters. If you, it was not an area of interest that you care about. Like, if you don't care about fish, owning a fish farm and all the work that goes into owning a fish farm, you probably shouldn't buy a fish farm. Now that said, you could buy a fish farm or you could make a deal with the guy selling it to continue managing it for a salary for a year or two and eventually that person would leave. But in the interim, you'd find someone who would be able to manage, you'd find iron replacement and the seller would train them for you. The only caveat with that is, what if the person you hire doesn't succeed and they quit? Now you have a business, the owner left and the hire, the manager left or quit, then you kind of have a dilemma. So it's not such a simple solution. You know, you, to your point, you do need to buy business in the area of your expertise. One of the most attracting businesses that people have a fetish for or however you want to describe it, is owning a bar or a restaurant. And you know, it's lovely to sit at the bar, it's lovely to sit at a restaurant and get your food served to you. But I'll tell you from experience, it's an enormous amount of work and very heavily regulated by the state by all kinds of licensing. The list is employees finding employees. As there's so many issues in operating a restaurant. And so for that reason it has a high turnover ratio. People getting in, people getting out, people buy the restaurant and after a year, oh, we don't want to do that anymore. They want to Sell. So that's sort of some of the challenges that you have, especially in buying restaurants and bars and oftentimes other food, food and beverage, like early mornings, like where you're making donuts and things like that. People will do that for a while, but not in the long run. And so I would just generally say that you should buy in an area that you're interested in, you know, and you should, but. And don't buy just for the money, okay? Because people who buy because it makes a half a million or 200,000 a year, but they don't care about the business, have no passion about the business. It means nothing to them. It's just purely about money. I think that's the recipe for doom very quickly, because as soon as the business starts to not make money or the money profits decline, the person is disillusioned about the business they bought. Oh, it doesn't make as much money anymore. What happened? And so they're out of business in no time because it didn't pay all the results they were expecting. But then they had no hunger, no drive, no passion, no commitment, no perseverance to keep the business making the money that it should be making. And for that reason, don't buy a business unless you have passion for us. [00:45:41] Speaker B: So, Dennis, will you please once again tell our audience how, if they're interested in whether it's buying a business or selling their business, how they can contact you so that they can take advantage of the wealth of experience and knowledge that you have. [00:45:58] Speaker C: So I can be reached at. My name is Dennis with one N. Burke is the last name. B U R K E. My phone number is 941-224-3893. That's 941-224-3893. And you can call or text me on that number, even on the weekend. And if you want to email me, that's Dennis with one n@businessbroker world.com that's Dennis@businessbroker world.comthat's how you get old me. [00:46:35] Speaker B: Dennis, thank you for sharing your journey and expertise today. Also for giving us some of your opinions as to how we could do better or our politicians could do better for us, but more importantly, how we as an individual or with family can build better businesses, better stability and financial freedom for our families. From entrepreneurship and the economy to business brokerage, you've reminded us that opportunity is always within reach when we face challenges with knowledge and resilience. And to my viewers, remember, we the people thrive when we stay informed, support one another and take smart steps toward the future we want. And that includes listening and communicating together without violence. Thank you for watching, and we'll see you next time here on we the People.