Register here for the webinar , How to Raise Equity to Buy a Business https://bit.ly/3SAWZXd Adam Borcz bought & unlocked growth in a niche-y, 35-year-old blue collar business, almost tripling earnings in 4 years. Topics in Adam’s interview: Adam’s experience working for a fundless sponsor Pros & cons of having the federal government as a customer Doubling his work force in a “tough labor market” Why overhead doesn't need to scale with labor force Doing nothing for the first six months a...
Feb 12, 2024•1 hr 34 min
Only after taking a second look at a small wedding catering & venue business did Nick Patrick recognize an opportunity. Topics in Nick’s interview: Buying a business that checked only one box Getting past major key person risk Nick's fear of lacking operational experience Acquiring without an SBA loan or investors Learning to lead and handle conflict Operational intensity of a wedding catering business Cash flow advantages due to up-front deposits Improvements he made to the business Realizi...
Feb 08, 2024•1 hr 34 min
Doug Johns reflects on his balance sheet, lifestyle, and new identity as business owner after 9 quarters in the seat. Topics in Doug’s interview: His wife's involvement in the business Working 60 hours a week His experience with ROBS structure and buyout Slowdown in home services industry Why he loves owning & operating When & why to raise your prices Moving to a small town in a metro area Integration of business into daily life Fierce competition in home services Great benefit of franch...
Feb 05, 2024•1 hr 35 min
Register here for the webinar , The Anatomy of an LOI : https://bit.ly/4263xl0 It was only after Michael Young started an accounting practice that he found the much larger practice he would then buy. How his father’s failed business influenced him Being rejected by a search accelerator Starting an accounting firm while searching 18 months of dead deals before acquisition Role of luck in business success Role of his wife How accounting practices are valued and priced Red flags to look for during ...
Feb 01, 2024•1 hr 28 min
Register here for the webinar , The Anatomy of an LOI : https://bit.ly/3U52srP At his job, Morgan McCauley saw a ceiling on his impact & earning potential. Buying a home care business uncapped both. Topics in Morgan’s interview: His experience working in a family office Investing 2 months in a deal that died Trade-off between equity and salary in traditional search Geographical search in South Florida Challenges with healthcare regulations Why Robert Graham didn’t like the deal The decision ...
Jan 29, 2024•1 hr 44 min
Register here for the webinar , The Anatomy of an LOI : https://bit.ly/3SsxKrt Ryan Doyle was 2 long years into searching when he walked away from a deal, but he was rewarded for the self discipline. Topics in Ryan’s interview: Lessons learned from a failed deal Value of a thorough quality of earnings investigation Why “stupid good margins” are a bad sign Buying a residential pool business in the Golden Isles of Georgia Being ghosted by his bookkeeper after transition His intern who stepped in a...
Jan 25, 2024•1 hr 31 min
Register here for the webinar , The Anatomy of an LOI : https://bit.ly/492E8eh Buying a property management business (which he's doubled) helped Brandon Laughridge balloon his real estate portfolio. Topics in Brandon’s interview: Why he changed his mind about service businesses Modernizing and professionalizing a property management business Growing from 12 to 25 employees The pain of owning a business with no pricing power Setting boundaries with clients around service offerings Pros and cons o...
Jan 22, 2024•1 hr 54 min
Holdco entrepreneur Sam Turner shares his vision to build the leading platform for independent M&E businesses in the UK. Topics in Sam’s interview: Importance of patience and flexible timelines Getting through fetal position moments Balancing diversification and integration Gurus in the business buying space Lessons from his first acquisition Change management in blue collar businesses Increasing holdco revenue target from £60m to £150m Extending his 5-year plan to 10 years His vision to imp...
Jan 18, 2024•1 hr 17 min
Luis Aguilar found a $1.5m SDE commercial laundry business on BizBuySell, then a second acquisition followed quickly. Topics in Luis’s interview: Geographical search in Florida Working with SIG (Search Investment Group) to raise capital Pitching investors and overcoming rejection Negotiating a dead deal back to life Acquiring a linen rental business Second order effects of raising employee wages Learning all the jobs in the business Mental weight of being the chief decision maker Doing a second ...
Jan 16, 2024•1 hr 45 min
Watch the recording of our webinar on Financial Modeling a Self-Funded SBA Acquisition : https://acquiringminds.co/webinars/how-to-model-a-self-funded-sba-acquisition The cemetery services biz Philip Blackett bought in 2019 was finally squeezed to insolvency & shuttered 2 months ago. Topics in Philip's interview: Searching locally due to having twins Buying a cemetery management business The downside of flat monthly billing Increasing expenses straining his bottom line Covid deaths affecting...
Jan 11, 2024•1 hr 29 min
Watch the recording of our webinar on Financial Modeling a Self-Funded SBA Acquisition : https://acquiringminds.co/webinars/how-to-model-a-self-funded-sba-acquisition In a world of tight labor supply, Tyrel Sulzer & Bob Boniface saw the benefits of buying a school that trains truckers. Topics in Tyrel and Bob’s interview: Choosing to do a partnered search Why they chose a traditional search fund Interviewing prospective investors Potential in blue collar businesses The future of trade school...
Jan 08, 2024•1 hr 37 min
When he bought an HVAC business in east Tennessee, John Mahony moved in next door & became a member of the community. Topics in John’s interview: Moving from Nashville to rural Appalachia His vision to build a holding company Buying an HVAC business in a small town Transferring skills he learned in the Marines Hiring veterans for their leadership capabilities Learning about HVAC through ride-alongs Changes he made after transition Revenue growth and increasing headcount Cyclicality of HVAC r...
Jan 04, 2024•1 hr 40 min
Pat Lazure explains why Flavor-Crisp, a food product business that uses co-packers, was such a great business to buy. Topics in Pat’s interview: Doing a “spouse-funded” search Starting a shear-sharpening business while searching Growth, churn, & margins in his shear-sharpening business Why he wanted to buy a breading and batter mix company so badly Similarities between food businesses & dropshipping businesses The role of co-packers in the food industry Challenges & risks in his food...
Jan 02, 2024•1 hr 41 min
Sam Turner is 3 acquisitions into a 5-year plan to buy HVAC businesses across the UK that together cash flow £6m/yr. (Rebroadcast from August 2022.) Topics in Sam's interview: How the businesses he buys are run and by whom Buying without the benefit of an SBA loan Why HVAC? Why buying small business is more appealing than real estate Harbour Club with Jeremy Harbour The value in acquiring businesses in a highly-fragmented industry Deal structure for his first acquisition Sam's goal for revenue/E...
Dec 28, 2023•1 hr 29 min
How Doug Johns overcame his reservations about being a franchisee to acquire a dream business with $1.8m EBITDA. (Rebroadcast from September 2022.) Topics in Doug's interview: Buying a franchise vs. independent business Opening your mind to a franchise The many (overlooked) benefits to being a franchisee Calling yourself "independent investor" instead of "searcher" Running a search like a B2B sales process The appeal of a deal with few addbacks Why home service businesses are so appealing as acq...
Dec 26, 2023•1 hr 25 min
Jack McCarthy has acquired 27 pistachio & almond farms from retiring owners, with a plan to build & hold for decades. Topics in Jack’s interview: Jack’s fascination with overlooked businesses Gold Leaf’s unique business model Appeal of farmland as a safe and attractive asset How farms are valued How specialty crops compare to row crops What makes a farm high quality Using technology to farm efficiently Incentivizing farm managers Converting conventional farms to organic Long-term nature ...
Dec 21, 2023•1 hr 44 min
Ben Jasper made a change at age 40, acquiring a plastic bag manufacturer with 10 people & a daily start time of 4:30am. Topics in Ben’s interview: Managing a portfolio of $500 million on Wall Street Leaving finance to prioritize family Buying a plastic bag manufacturer Starting his work day at 3:30 AM His intense 2-month initiation Creating a manual and financial model to manage the business Challenges of maintaining old machinery Understanding his employees' personal values Long-term vision...
Dec 18, 2023•1 hr 32 min
Eddy Zakes has 2x'd revenue and 4x'd headcount at the snow removal brokerage he bought with a traditional search fund. Notes from the conversation with Eddy: His highly-personal outreach approach Earth Development’s unusual business model Negotiating with an anxious seller Acquiring during Covid How being close to a target business changes rapport building Buying a highly seasonal business Operating across multiple states Convincing a key employee to stay Risk of customers taking relationships o...
Dec 14, 2023•1 hr 25 min
Brian Lee Shields bought a barely-profitable property management business intending to improve, grow, & hold it forever. Topics in Brian’s interview: Importance of energy vs talent Brian's partner and their complementary roles Buying property management companies Improving their net promoter score (NPS) Building a culture of completion rate measurement Relocating positions and outsourcing Importance of trust in property management Successfully transitioning to a remote-first business Decidin...
Dec 11, 2023•1 hr 45 min
Darryl Lindie did a geo-constrained search in Rhode Island to acquire a sign business with $650k of SDE & 25 employees. Topics in Darryl’s interview: His background in the Navy How getting an MBA might slow you down Searching in a small geographic radius Buying a signage company Valuing a business with a lot of cash transactions Getting comfortable with project-based revenue Mistakes in due diligence Improving the culture in 100 days Hiring a supplier to be his GM Raising a fund for New Majo...
Dec 07, 2023•1 hr 26 min
Matt Barnes bought a $400k SDE linen laundry business, channeling his conviction at big decision points along the way. Topics in Matt’s interview: Doing a narrow geographic search Pros and cons of door-to-door proprietary outreach to sellers Importance of having his wife on board Getting emotionally invested in deals His values-based reason for acquiring a business The business sustaining fire damage before purchase Buying a commercial laundry business Niches within the laundry industry Realitie...
Dec 04, 2023•1 hr 24 min
Recording of a live panel hosted by EO Silicon Valley with Acquiring Minds host Will Smith moderating. Topics discussed: 3 stories of buying businesses What the search, due diligence, transition was like for each of the 3 entrepreneurs Silicon Valley-style entrepreneurship vs. entrepreneurship through acquisition (ETA) The napkin math of a business acquisition with an SBA loan Moving from white collar to blue collar environments Is there a "type" who buys a business? Graduating from buying your ...
Nov 30, 2023•1 hr 40 min
While not a CPA herself, a clear list of buying criteria led Gretchen Roberts to acquire a 16-person accounting firm. Topics in Gretchen’s interview: Overcoming mental blocks about leaving a good job Using her marketing skills for proprietary search Acquiring an accounting firm without accounting experience Building rapport and trust with the team Changing the business’s name Being comfortable managing a remote team Balancing business ownership and family Her plan to recruit accountants through ...
Nov 27, 2023•1 hr 36 min
Acquiring Minds host Will Smith reflects on 200 episodes, tells the podcast backstory, and teases what's coming in 2024. Topics in today’s episode with Will: Essential lessons from 200 interviews with acquisition entrepreneurs How Acquiring Minds got started Is Will going to search for a business to buy? Plans for Acquiring Minds in 2024 References and how to contact Will: Episode 183 with Brandon Adams: Hiring a General Manager & Buying Business #2 Connect with Will on LinkedIn Follow Will ...
Nov 22, 2023•25 min
Sensing untapped potential, Mark Olivito paid cash for a project-based construction business with less than $100k SDE. Topics in Mark’s interview: Buying a business that checked all the wrong boxes Why he “overpaid” to acquire PAVERART What attracted him to the business His passion for building a successful blue-collar business Glamorization of entrepreneurship The importance of showing up and “eating last” The trades as a lucrative alternative to college Mental health challenges in small busine...
Nov 20, 2023•1 hr 33 min
Ben Bryer worked with a financial backer to find & buy a 65-year-old niche manufacturing business without an SBA loan. Topics in Ben’s interview: Spending $150K and 18 months on dead deal The emotional toll of a failed deal Freelancing to partially fund his search Buying a pin gage manufacturer What attracted Ben to the business Choosing a conventional loan over SBA loan Building relationships with lending partners Tech debt as a liability The benefits of having long-term employees Importanc...
Nov 16, 2023•1 hr 16 min
Mike Okhravi left a cushy tech career to buy a towing business & a flooring business — and within 30 days of each other. Topics in Mike’s interview: Why he passed on the Search Fund Accelerator His philosophy on taking more risk by moving fast Signs of a motivated seller Buying a 4-person garage flooring business Surprises after acquiring the business Why profit dips post-acquisition Discarding the “searcher rules” What he loves about the towing business Operating 2 businesses at once (inclu...
Nov 13, 2023•1 hr 35 min
A fireside chat with veteran searcher & investor Kent Weaver recorded at the Self-Funded Search Conference in Dallas. Topics in Kent's interview: Kent's history: his search & how he evolved into an investor in searchers How the first 2 or 3 years post-acquisition are different in a self-funded search vs. a traditional search fund How traditional search feels different today vs. its early days What is a "3am business"? The power of choosing a quality industry to buy a business in The powe...
Nov 09, 2023•51 min
Sean Moore looked at a handful of businesses, but a fine art gallery with over $1m SDE won the art collector's heart. Topics in Sean’s interview: Pulling $1M out of his 401k to buy an art gallery How his gallery brings in $1M in SDE The ecommerce aspect of the gallery The additional revenue stream of a frame shop Opportunities to improve the gallery website His peer group that supported his search Choosing a passion business over a “boring” one Forming a connection with the seller Using ROBS for...
Nov 06, 2023•1 hr 40 min
John Hubbard returns to share how "chasing EBITDA over revenue" has benefited the trailer fabricator he bought in 2021. Topics in John’s interview: Losing largest customer (25% of revenue) Earning $2m EBITDA on $6m revenue vs. $25m revenue Don't chase revenue, chase EBITDA Mentally transitioning from buyer of a business to the seller of it Why he's thinking about selling Selling vs. hiring an operator & holding How difficult finding a good operator is Appreciating how precious it is when you...
Nov 02, 2023•1 hr 5 min
