How to Buy a Landscaping Business & Boost Profits Quickly
Jul 08, 2021•42 min
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Episode description
In just 9 months, Mike Botkin decided to acquire a business, negotiated a great deal, and dramatically improved profits.
Key points from Mike's story:
- B & B Landscaping was generating around $800k in annual revenues.
- Acquired it for 2x of SDE.
- Paid 50% cash up front, then the remaining 50% was seller financed with a 4-year loan at zero interest.
- Turns out a third of customer accounts are unprofitable, costing the business money & weighing down margins terribly. Money-losing customers are let go, and prices raised for many others.
- In 9 months, acquisition entrepreneur Mike Botkin has the idea to buy a small business, negotiates a great deal, learns the business, and boosts profits dramatically.
Reach Mike Botkin at:
- @MikeBotkin_
- His acquisition, B & B Landscaping
Official episode page & full show notes at AcquiringMinds.co:
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