One approach for a business owner to increase profit and further protect the business is the buy-up or stand-up all of the vertical businesses that support the core business. Think of starting or acquiring additional businesses as an approach to build and protect a wealth engine.
For many profitable businesses, there is a simple, well-proven path to form a second, profitable business. Simply put, businesses can choose to OWN THEIR OWN INSURANCE COMPANY, known as a captive insurance company. In so many ways, a captive insurance company is the perfect second business (or third, or fourth…).