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504 afleveringen, van nieuw naar oud
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Buying a Business to Escape the Middle Class
22 november 2022 · 1 uur 17 min
Jordan Novgrod sold his house, tapped his 401k, and went all-in to buy an $800k SDE business he found on BizBuySell. Lees meer
Topics in Jordan's interview:
Finding a great business on BizBuySell
Blogging the search process
Key rule of thumb on SDE
Importance of buyer-seller chemistry
Machine shop businesses - pros & cons
Transferring key relationships post-sale
Day 1 speech
How Jordan built rapport with his new employees
Links & how to reach Jordan:
Rich Dad Poor Dad
Sweaty Startup
Search Investment Group (SIG)
Jordan's substack: Small Business Acquisition
@JordanNovgrod
LinkedIn
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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How to Buy a $2.3m Business with $100k in Cash + Your 401k
15 november 2022 · 1 uur 34 min
Burk Adams tapped his 401k to buy a business that reinvented his career, gave him back time, and catapulted his wealth. Lees meer
Topics in Burk's interview:
Using your 401k to buy a business with ROBS
Buying a business being the most impactful thing he's done in his life
Realities of a C corp vs. LLC
Teaching his kids acquisition entrepreneurship
How it seems easier to have bought a business in 2015 than now
The feeling of giant SBA loan repayments every month
His business acquisition being a full send
How he thought about the failure risk
Why he liked PC Enclosures
Acquisition price & numbers
Buying a $2.6m business while only having $100k in cash
Revenue numbers
Handling the brutal first 6 months (and how it was healthy for the future)
What's worse: depression or panic?
Strong growth in the last few years
How to think about one-off purchase vs. recurring revenue businesses
How to think about buying a manufacturing business
Small business ownership vs. being a consultant
2 new businesses that have come out of his acquisition
Links & how to reach Burk:
PC Enclosures
Storm Shell, Burk's outdoor TV enclosure business targeting consumers
Backyard Snowstorm, the snowmaking business Burk started with his son
Guidant Financial
LinkedIn
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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How to Survive Buying a Bad Business
8 november 2022 · 1 uur 27 min
It looked like a dream: $2m EBITDA, recurring, large market. Only after Judd Lorson bought it did he learn the truth. Lees meer
Topics in Judd's interview:
Searchfund accelerator pros & cons
Understanding investors' role in your acquisition
Importance of 100% transparency with employees (even pre-acquisition)
Debt collection business pros & cons
Discovery that he's acquired a bad business
Managing hostility with sellers
What is the proper attitude for buying a business?
How to resign as CEO the right way
Links & how to reach Judd:
Original case note from Yale about Judd's story
The Acquiring Minds debate about Self-Funded Search vs. Traditional Search Funds
judd DOT lorson AT gmail
LinkedIn
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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Buying Doggy Daycares After 10 Years in Tech
1 november 2022 · 1 uur 10 min
Taylor Wallace was over tech. He acquired a small business and with it a renewed sense of impact (and opportunity). Lees meer
Topics in Taylor's interview:
Tech burnout
Working in tech vs. running a small business
Buying indy vs. franchise
Injecting tech-industry best practices & ambition into small business
How do friends in tech respond to his foray into doggy daycares?
Going from digital nomad to brick-and-mortar business owner in Tampa
Increasing doggy daycare capacity 2x
Will more than 2x revenue by next year
What he paid (roughly) for 1st and 2nd acquisitions
Growth strategy
Buying small vs. buying big
Doggy daycare business - should you do it?
Links & how to reach Taylor:
Paws 'n' Rec
Baton
@taywall
LinkedIn
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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Would They Do It Again? 1 Year Later with 5 Early Guests
25 oktober 2022 · 1 uur 46 min
Episode 100! To celebrate, 5 early guests come back to share how things are going at their acquisitions, 1 year later. Lees meer
2:48 - Chris Edwards acquired a flooring business
18:15 - Philippe Vanderhoydonck, a B2B media business in the pets industry
35:49 - Cassi Niekamp, a fencing business
1:02:12 - Andrew Pierno is buying multiple small SaaS businesses
1:25:54 - Mike Botkin bought a small landscaping business and has quickly parlayed that into becoming a player in the landscaping industry
Links to guests' previous episodes:
Chris Edwards - How to Survive Acquiring a $3.5m Flooring Business.
Philippe Vanderhoydonck - How to Acquire Your First Business in 3 Months
Cassi Niekamp - Buying a $1.2m Fencing Business & Earning Trust Quickly
Andrew Pierno - How to Build a Portfolio of Micro SaaS Businesses
Mike Botkin, first ep - How to Buy a Landscaping Biz & Boost Profits Quick
Mike Botkin, second ep - How to Buy Landscaping Businesses
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
YouTube channel (easy access to all interviews)
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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How to Buy a Seasonal Biz: Buy Another for Low Season
18 oktober 2022 · 1 uur 6 min
Andrew Harbin first bought an awning business, then bought a fencing franchise to keep his crew working through summer. Lees meer
Topics in Andrew's interview:
Should you buy a seasonal business?
Buying a second business to offset seasonality of first business
Twitter thread that opened his eyes to building wealth by buying a business
Buying a business that is for sale by owner
Revenue + SDE of the awning business he acquired
Growth he's achieved in first years of ownership
How the awning business works (revenue sources, staffing, org chart)
Buying a $300-400k SDE business
Why hiring temps for seasonal businesses is unappealing
Fencing business: buying vs. starting from scratch vs. starting a franchise
Pros/cons of franchises
Big Jerry's fencing franchise
Tips for entrepreneurs considering buying a fencing business
Nature of stress in SMB vs. corporate
Loneliness of being a small business owner
Links & how to reach Andrew:
Twitter thread that turned Andrew on to buying a business
Venango Awning
Big Jerry's Fencing
@ADHarbin
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
YouTube channel (easy access to all past + future interviews)
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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How a $40k Acquisition Led to a Franchise Empire
11 oktober 2022 · 1 uur 18 min
James Temple & his mother acquired a struggling Mathnasium franchise in 2009. Today, they do $7m across 19 locations. Lees meer
Topics in James' interview:
Buying vs. starting a franchise location
Is rolling up easier in a franchise system?
Turning around underperforming franchise locations
How to assess the risk of a franchise system
3 criticisms of franchises that MBA student always have
Numbers behind his first acquisition
Growing to 19 franchise locations in 13 years
How a 19-unit franchise business is structured & operated
Evaluating franchise opportunities from a risk-adjusted perspective
Revenue range of Mathnasium franchises
Mathnasium fees
What exactly do you get from a franchisor for the franchise fee?
Passion and purpose — is it necessary?
Franchise consultants (and how they are incentivized)
How to start investigating opportunities if you're interested in a particular franchise
Links & how to reach James:
Mathnasium
FDD Exchange
LinkedIn
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
YouTube channel (easy access to all past + future interviews)
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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Selling a Business for 5x a Year After Buying It
4 oktober 2022 · 1 uur 36 min
Sumana Sanjeeva got into ecommerce by chance. 3 years later, she's acquired 4 ecom businesses & sold one for over $5m. Lees meer
Topics from Sumana's interview:
Brick & mortar vs ecommerce businesses
Best type of ecommerce to buy for a first-timer
Buying an ecommerce business knowing very little about it
Learning quickly how to sell on Amazon
Finding an ecommerce business on BizBuySell
Terms of her deal
One decision that made the business thrive during COVID
Selling to aggregators
Talking to 14 of them
Terms of her sale
Cash flow issues with a growing ecommerce business
Her 3 new ecommerce acquisitions
Focusing exclusively on FBA
Running in-person learning center franchises
How to reach Sumana:
LinkedIn
sanjeevasumana AT gmail
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
YouTube channel (easy access to all past + future interviews)
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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Ups and Downs of Buying Small (and Keeping a Job)
29 september 2022 · 1 uur 11 min
Toni Kononova bought a ghostwriting business for $500k to experiment with buy-then-build while limiting her downside. Lees meer
Topics in Toni's interview:
What to love about a ghostwriting & editing business
The business of self-publishing
What is "vanity press"?
Why a terrible website can be OK
Getting close on a small B2B SaaS business
Lowering her SDE criteria
Numbers & terms of her acquisition
De-risking an acquisition
Buying a business while having a full-time job
Why keeping her full-time job helped get the loan
Running the acquisition as a side hustle
Employee turnover & sales decline during transition
The popularity of search among Silicon Valley workers
Search in Russia
Links & how to get in touch with Toni:
Write My Wrongs
toni AT writemywrongs DOT co
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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Reflections After 1 Year of Searching Full Time
27 september 2022 · 47 min
Frustrated searchers: this episode is for you. Jesse Sunquist shares 4 lessons from a year of hunting for a business. Lees meer
Topics in Jesse's interview:
What he learned going from part-time to full-time searching
Why brokers prefer working with full-time searchers
"Spouse-funded" searcher
How TRULY difficult it is to get your first deal done
Embrace change when it comes to your search criteria
How personal each searcher's journey is
The perils of comparing your search to others'
The temptation to buy (very) small
Opening your mind to acquiring a franchise
Isolation & loneliness during search and how to counteract it
The importance of just getting started
Over-investing in your tech stack, website, LLC formation, etc. is procrastination
How to reach Jesse and other links:
Original post on Searchfunder: Reflections after 1 year of searching full time
@jsunquist on Twitter
LinkedIn
jesse AT mtsophia DOT capital
Jesse's search website, Mt Sophia Capital
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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Not Just a Young Man's Game: Acquiring at 60
20 september 2022 · 57 min
When most people would be considering retirement, Anne Ristic started a new chapter of her career by buying a business. Lees meer
Topics in Anne's interview:
Deciding to buy a business at age 60
How Ruth Bader Ginsburg inspired her to buy a business
How she budgeted her target acquisition size
Raising money from banks for an acquisition in Canada
Canadian banks' familiarity with search
About AES, the business she bought
Growth potential for PEO in Canada
How much industry research she did
How she envisions growing AES
Meeting the managers during the transaction process
Nuances to search in Canada
communEtA, the student-run investment group
Being a woman when buying a business
Reach Anne at:
anne AT agencyemployment DOT ca
LinkedIn
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Links:
Agency Employment Services (AES)
communEtA
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Opening Up to Franchises to Buy a Great Business
13 september 2022 · 1 uur 24 min
How Doug Johns overcame his reservations about being a franchisee to acquire a dream business with $1.8m EBITDA. Lees meer
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 acquisitions
Loving, rather than running from, managing people
Why the top home service businesses have more sophisticated funnels than the Fortune 500
ServiceTitan
Where the opportunity is when the business you buy is already well-run and mature
Owning a plumbing company without knowing anything about plumbing
The numbers of Doug's deal
The exact multiple is way less important than you think
Using ROBS to buy the business
Why high growth can make a business harder to finance
Understanding debt service coverage ratio (DSCR) thresholds
Doug's tip for choosing an SBA lender
The $500k value of Doug's appeal to the seller
Going to meet a seller face to face
Reach Doug at:
doug DOT johns AT couffley DOT com
LinkedIn
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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The Appeal of Lead Gen Businesses (Especially Old Ones)
7 september 2022 · 1 uur 13 min
A primer on lead gen businesses from Jaime Arias, who bought a 14-year-old biz that generates online leads for dentists. Lees meer
Topics in Jaime's interview:
Choosing self-funded over a traditional search fund
Buying tiny sites on Flippa
The opportunity with "old" internet businesses
3 types of sellers on Flippa
Using BuiltWith to generate proprietary outreach list
About Patients4you
Lowering acquisition targets from $750k - $1m cash flow to $200k - $400k
"Rank & Rent" model for local lead gen
What are you really buying with a lead gen business?
Lead brokers
SEO vs. PPC for lead gen
Isn't Google Ads too competitive already for local lead gen?
Getting comfortable with Google algorithm risk
Why Patients4you is an agency more than a lead gen website
Deal terms
Using BizBuySell for digital businesses
Centurica
How he's growing Patients4you
Slow feedback loop of local lead gen businesses
Reach Jaime at:
jaimearias.com
LinkedIn
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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Building an HVAC Holdco to £60m in Revenue
30 augustus 2022 · 1 uur 26 min
Sam Turner is 3 acquisitions into a 5-year plan to buy HVAC businesses across the UK that together cash flow £6m/yr. Lees meer
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/EBITDA/multiple and his own wealth
Buying small vs. buying big
Buying an HVAC with mostly new construction vs. maintenance revenue
White collar people buying blue collar businesses
Reach Sam at:
sam DOT turner AT advantos DOT com
LinkedIn
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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Rolling Up Real Estate Appraisal Firms
23 augustus 2022 · 54 min
Kevin Swenson shares his story of buying a $3m real estate appraisal firm as a platform to roll up the fragmented space. Lees meer
Topics from Kevin's interview:
Why the real estate appraisal industry?
How to add value as the entrepreneur doing a roll-up
Roll-up dynamics
Appraisal businesses vs. appraisal management companies
Story of his acquisition, the platform business
The "Your Sure Thing" philosophy
Buying in an industry where you DON'T have experience
The nature of real estate service businesses
How to mitigate risk when buying a real estate service business
Acquisition opportunities in real estate services beyond appraisal
How it's going since the real estate market slowed
Pivoting a roll-up strategy to react to the market
Reach Kevin at:
@KevinWSwensonJr
LinkedIn
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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Growing an Ecommerce Acquisition 13x in 4 Months
16 augustus 2022 · 1 uur 13 min
Ramon Van Meer bought an ecommerce business doing $30k/mo. A few tweaks & months later, it was up to $400k per month. Lees meer
Topics in Ramon's interview:
What to look for in an underperforming ecommerce business
How to quickly improve an ecommerce business
The effect of turning on paid advertising
The true nature of running an ecommerce business
The power of niches
User experience buying a digital business versus an offline business
Who should buy versus build
How to make money in content
Growing a content site from scratch to a $9m sale in 2.5 years
The dangerous temptation of buying too many businesses
Buying a YouTube channel
Decline of a YouTube channel business immediately after acquiring it
SBA loan for a YouTube channel acquisition
Buying a SaaS business
Reach Roman at:
@ramonvanmeer
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Links & mentions:
Alpha Paw
Ramon's viral Twitter thread: selling $35m of dog ramps
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Flower Power: Buying a Rose Distributor Primed for Growth
9 augustus 2022 · 1 uur 27 min
Jason Cline left corporate at age 50 to buy a flower distribution business (in cash). SDE is up 3x after just one year. Lees meer
Topics in Jason's interview:
Pivoting from 20+ years in corporate to SMB ownership
3 criteria for what business to buy
Buying a business in cash (no SBA loan)
The business of flower distribution
Selling to big retailers like 7-Eleven & Circle K
How to detect growth potential in a distribution business
2 ways to retain drivers in distribution/route businesses
Distribution businesses are really car businesses
Scan-based trading
2 key techniques Jason used to transition successfully into the business
Working "in" the business for the first 6 months
Testing changes
The numbers behind flower distribution
Ideal size of SDE for target business
What's more important than SDE
Jason's growth since acquisition and plans for expansion
Reach Jason at:
LinkedIn
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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A Brutal Search Rewarded with Success After 3+ Years
2 augustus 2022 · 1 uur 23 min
Jordan Carter started as a part-time, generalist searcher. 3+ years later, he bought a biz doing $2.4m with 40% margins. Lees meer
Topics in Jordan's interview:
Part-time vs. full-time searching
Consulting in order to generate income while searching
Misconceptions about how easy it is to find a business to buy
How much cash Jordan saved for his self-funded search
Generalist vs. industry-specific search
Using interns for search
Value of speaking with owners (even if they don't want to sell)
Optimal percentage of time to devote to deal sourcing
Accessing equity capital
Adding value to a super niche business you're completely new to
Growing a business 40% in 2 years after acquisition
Buying a grant-writing business
The pain of losing an LOI
Reach Jordan at:
@jordanpcarter
LinkedIn
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Links & mentions:
B&A Grant Services & Software
Search Investment Group
Episode 41, featuring Jordan and partner Robert Graham at SIG: The Argument for Self-Funded Search
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Buy a SaaS Business in 2022: How to Compete in a Hot Market
26 juli 2022 · 1 uur 26 min
A deep-dive into the market for SaaS businesses with Thomas Smale, founder of leading SaaS brokerage FE International. Lees meer
Topics in Thomas's interview:
Pros & cons of SaaS
SaaS valuations
SaaS vs. ecommerce
Competing with private equity for SaaS deals
Using an SBA loan to buy a SaaS business
Micro-SaaS
First-time buyers doing a career pivot by acquiring a business
Most common mistake among first-time buyers
Passive nature of online businesses
SaaS products unlikely to go zero?
Acquisition strategy: converting on-premise software to cloud
Proprietary outreach to find SaaS sellers
How economic climate is affecting SaaS valuations & multiples
Ecommerce valuations & multiples
Young ecommerce businesses - dangerous?
Advice for first-timer buyers
Reach Thomas at:
@ThomasSmale
LinkedIn
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Links & mentions:
FE International
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Leaving Apple to Buy a Real Estate Business with 150+ Agents
19 juli 2022 · 1 uur 13 min
Kinza Azmat arrived in the US at age 6, speaking little English. Today she's the new owner of a thriving RE brokerage. Lees meer
Topics from Kinza's interview:
Becoming a business broker to learn acquisition & access deal flow
Thinking that finding a business to buy would be easy
How business brokerages generate deal flow
Financial & location criteria of her search
Unlocking deal flow by expanding geographic criteria
Dealing with gender, racial, and other biases in sellers
Tying seller note to business performance
The business of apartment locators
Competitive moats for apartment locators
Rebranding
Small business owner life vs. corporate cog life
Getting your spouse on board
Pregnant as a new owner
Type D and Type F reorganization
Following (and breaking) the Asian-American pattern
America as land of opportunity
Reach Kinza at:
LinkedIn
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Links & mentions:
WTA Realty
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7 Findings from the New Data on Self-Funded Searches
15 juli 2022 · 29 min
Lisa Forrest shares key findings from a survey of 49 entrepreneurs who bought a business after a self-funded search. Lees meer
The findings discussed were based on these questions:
How did you find your deal?
Did you conduct a full-time search?
How long did you search before you found the deal you closed on?
Do you think your acquisition price valuation was fair?
How long did it take you to discuss valuation with the seller?
Did you have a competitive deal process where multiple buyers were vying for the LOI?
What do you think the critical success factors were in sourcing and closing your deal?
Did you go up or down market compared to your original expectations?
Reach Lisa at:
lisa DOT forrest AT liveoak DOT bank
LinkedIn
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Links & mentions:
The report will be published at Live Oak Bank's search fund resources page... but not for 2 weeks.
If you can't wait, email Lisa at the address above👆 and she'll get you the raw data now.
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Why Chenmark Bought a Boat Tour Business
12 juli 2022 · 1 uur 14 min
Seasonal. Nonrecurring. Key person risk. Trish Higgins recounts how Chenmark got excited about an unlikely acquisition. Lees meer
Topics in Trish's interview:
Building a holdco versus taking a job in private equity
What Chenmark does, why it's special
Chenmark's founders' goals: impact, interestingness, financial
Why isn't the holdco model taught in business schools?
The story of Cap'n Fish Cruises
Unit economics of a boat tour business
Is seasonality really so bad?
Managing seasonality
Are boat tour businesses attractive generally?
Finding differentiation in a crowded industry
Bait & tackle shop framework
Chenmark's second boat tour acquisition
How Chenmark approaches learning an industry where they've acquired a business
Reach Trish at:
trish AT chenmark DOT com
LinkedIn
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Links & mentions:
Cap'n Fish's Cruises
Subscribe to Chenmark's Weekly Thoughts
Episode 55, featuring the other Chenmark co-founders: 7 Years Later: Leaving Wall Street to Buy Small Businesses
Episode 64, featuring Trish: How & When to Make Changes at Your Acquisition
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The Weird & Wonderful World of Vending
6 juli 2022 · 1 uur 47 min
Ujwal Velagapudi acquired a multimillion dollar vending empire with thousands of machines & 7 figures of cash flow. Lees meer
Themes from Ujwal's interview:
Big vending businesses vs. small
Building a big vending business by acquiring small routes
Economics of vending
Logistics of vending
Tiny acquisitions to build confidence & experience
Differentiating yourself as a buyer on MicroAcquire
Using phantom equity to hire general manager
Benefiting from OnlyFans growth
Working with a dishonest seller
Buying an online business
Buying an FBA business
Buying a small gym
Buying a historic neighborhood sports bar
Buying downmarket commercial real estate
Using Craigslist for acquisition of businesses & real estate
Reach Ujwal at:
@UjwalVelagapudi
LinkedIn
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Links & mentions:
Byron
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Don't Be Tempted: 8 Signs of a Bad Business
28 juni 2022 · 1 uur 7 min
A lender and a searcher explain how to quickly identify a business you should NOT buy, saving you months of wasted time. Lees meer
Themes from Ryan & Heather's interview:
Killer #1: Valuation
Killer #2: Stupid Margins
Killer #3: Going Too Small
Killer #4: Bolt-on vs. Platform
Killer #5: Competing with Private Equity
Killer #6: Geography
Killer #7: Red Flags
Killer #8: Needs to Support Leverage
Links & mentions:
15 Time Killers in SMB Search - full document from Live Oak
All of Live Oak Bank's search fund resources
Reach Ryan at:
@smbquest
LinkedIn
Reach Heather at:
@EndresenHeather
LinkedIn
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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How to Acquire & Grow an FBA Business
21 juni 2022 · 59 min
Alex Michael bought a wallet brand doing $650k on Amazon. Alex delves into how FBA works & what the growth levers are. Lees meer
Themes from Alex's interview:
Why ecommerce?
Difficulty competing to buy an ecommerce business
Process of a ecommerce acquisition with a Quiet Light listing
Anatomy of the first call with a seller
How to be a good buyer
What to say to a seller in a competitive environment
Diligencing an ecommerce business
Cost breakdown of an FBA business
Supply chain risk in ecommerce
Promoting an FBA business on Amazon
Amazon's PPC flywheel
ACoS and TACoS
Daily ad spend, net margins, revenue, SDE
Platform risk with FBA businesses
Adding a Shopify store to diversify distribution
Reach Alex at:
LinkedIn
**** Register here for the live session with Chelsea Wood of the Acquisition Lab:
What size of business should you buy?
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Links & mentions:
Wallaroo Wallets
Centurica
Quiet Light
Stephen Speer and eCommerce Lending
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Good News for Ecommerce Buyers
20 juni 2022 · 58 min
Multiples for ecom businesses jumped 50% since 2018, but Quiet Light's Joe Valley says that trend is about to reverse. Lees meer
Themes from Joe's interview:
The ecommerce buying mania of 2021
2 pieces of advice for acquisition entrepreneurs looking at ecommerce
How ecommerce multiples will change
How ecommerce deal terms will change
Seller financing in ecommerce
Future of the ecommerce aggregators
History of the ecommerce aggregators
Reach Joe at:
LinkedIn
joe at quiet light dot com
**** Register here for the live session with Chelsea Wood of the Acquisition Lab:
What size of business should you buy?
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Links & mentions:
Download Joe's book The Exitpreneur's Playbook
Subscribe to Quiet Light listings
Subscribe to new listing alerts from Centurica
Thrasio
Carlos Cashman of Thrasio
Profound Commerce
Syed Balkhi
Ramon Van Meer
Walker Deibel
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Search Success in a Small City: $500k SDE, 95% Recurring
14 juni 2022 · 1 uur 11 min
How James Maxwell & his partner found a 22-year-old janitorial biz & successfully installed a GM in a city of 100,000. Lees meer
Themes from James' interview:
Searching in a small market
Choosing NOT to outsource due diligence
Janitorial business pros & cons
Partnered search
What deal flow looks like in a 100k city
Hiring a general manager
Does an MBA help with buying a business?
Why self-funded over traditional?
Reach James at:
LinkedIn
Twitter
jmaxwell 814 @ gmail dot com
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Register here for the live session with Chelsea Wood of the Acquisition Lab:
What size of business should you buy?
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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How to Get Good Deals from Brokers
7 juni 2022 · 1 uur 10 min
Business broker Clint Fiore explains how to most effectively work with brokers to find good businesses to buy. Lees meer
Themes from Clint's interview:
Brokers' pet peeves about acquisition entrepreneurs...
...and how to avoid them
Most important thing you communicate to a broker
Life cycle of a business for sale
Searcher branding
The reality of the "silver tsunami"
Seller psychology
The master skill right now for buying businesses
Reach Clint at:
Twitter
LinkedIn
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Register here for the live session with Chelsea Wood of the Acquisition Lab:
What size of business should you buy?
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Links & mentions:
Clint's newsletter, Probably a Good Deal
Texas Business Buyers
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What Searchers Can Learn from Big PE
2 juni 2022 · 1 uur 8 min
Alex Mears draws on years of experience at Carlyle & Blackstone to support and invest in searchers (70 & counting). Lees meer
Themes from Alex's interview:
The most valuable businesses of all
Attractiveness (or not) of home service businesses
Seller integrity
When to require speaking with key employees
Thesis-driven search
Search accelerators
New accelerator The Brydon Group
Alex's pivot to entrepreneurship: why now?
Reach Alex at:
alexander dot mears @ brydon dot com
LinkedIn
Twitter
The Brydon Group
Apply to the first cohort here (deadline: June 15th)
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Register here for the live session with Chelsea Wood of the Acquisition Lab:
What size of business should you buy?
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Links & mentions:
Steve Ressler
George Dutile
Alex's session on Searchfunder: Tutorial: Live Modeling an Example Self-Funded Deal & Key Factors Involved
Alex's session on Searchfunder: Modeling for Traditional Search Deals - Intro to Building Financial Models
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How to Buy a Big Business with a Buy-Side Advisor
1 juni 2022 · 1 uur 6 min
Jason Andrews paid $250k to a buy-side advisor to help find & acquire his first business — and would 100% do it again. Lees meer
Themes from Jason's interview:
Paying a premium for a good business
Working with a buy-side advisor: price, value, what they do
Speaking to 30 sellers
Buying a business in your 40s
Taking a big swing
Where he invested his time during due diligence
Whether he was "buying a job"
The consulting agreement he structured with the previous owners
Buying big or buying small
Going from corporate to small business
Pros & cons of group purchasing organizations (GPOs)
Reach Jason at:
@Jandrews707
LinkedIn
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Register here for the live session with Chelsea Wood of the Acquisition Lab:
What size of business should you buy?
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Links & mentions:
The DVS Group
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7 Common Mistakes Across 250 Searchers
23 mei 2022 · 47 min
Chelsea Wood has worked with 250+ business buyers & identifies 7 challenges that commonly interfere with their success. Lees meer
Themes from Chelsea's interview:
The irrational need to be an expert on every part of your acquisition
Incessant need for more, more, MORE information
Good ol' imposter syndrome
You don't brand yourself
You're too rigid
You're too loose, get desperate
You don't put in the effort for deal flow
Reach Chelsea at:
chelsea at buythenbuild dot com
LinkedIn
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Links & mentions:
Apply to the Acquisition Lab
Buy Then Build Facebook group
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Acquiring a Business in Florida, Living in California
16 mei 2022 · 1 uur 4 min
How Chris Munn runs his first acquisition, a $800k cleaning business in Tampa, while being based in LA. Lees meer
Themes from Chris’s interview:
Real estate vs. small business acquisition
The importance of getting reps — modeling deals as practice for the real thing
Running an acquired business remotely
Buying a business that’s too small
Being an African-American man and dealing with “pattern matching” from banks
How Chris gained 30k followers in six months
Reach Chris at:
On LinkedIn: Chris Munn
On Twitter: Chris Munn
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Links & mentions:
Buy Then Build
HBR Guide to Buying a Small Business
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Why Buy a Small Manufacturing Business
9 mei 2022 · 49 min
Ex-cop John Hubbard bought a $5m trailer manufacturing biz from an absentee owner & expects to grow to $12m by 2024. Lees meer
Themes from John’s interview:
Learning how to run a business, hands-on, before acquiring one
Transferring military skills to business acquisition
Raising money on Searchfunder.com
Asking “dumb questions” to learn quickly
Choosing self-funded over a traditional search fund to achieve the lifestyle he wanted
Firing half his customers in the first month of ownership
Why your search shouldn’t ignore manufacturing businesses
Reach John at:
By email: john at blue cord capital dot com
On LinkedIn: John Hubbard
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Links & mentions:
Express Custom Trailers
Blue Cord Capital
Sam Rosati on Twitter
Searchfunder
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Buying Digital Businesses in 2022
2 mei 2022 · 51 min
Digital business buyer Dom Wells shares where he looks for opportunities today in the shifting sands of online business. Lees meer
Themes from Dom's interview:
Affiliate, e-commerce, and SaaS businesses and each one's pros/cons
Online course and content businesses
Where Dom sees opportunities in digital acquisition
How to source deals
Leading brokerages of digital businesses
Flippa & MicroAcquire
How to approach the digital space as an outsider
Connect with Dom:
Twitter: @DomWellsOnfolio
LinkedIn: Dominic Wells
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Links & mentions:
Empire Flippers
FE International
QuietLight
MicroAquire
Flippa
Onfolio's S-1
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Lessons from a Founder Who Then Started Acquiring
25 april 2022 · 57 min
Mike Loftus started his landscaping business from scratch, then began buying others to accelerate growth to $4m/yr. Lees meer
Themes from Mike’s interview:
Growing a landscaping business organically from the ground up
Acknowledging your weaknesses and handing them off as soon as you can
The advantages familiarity with technology bring despite a lack of experience
Finding acquisition opportunities through unconventional methods
The importance of recurring revenue in landscaping
The potential exit opportunities for landscaping owners
Connect with Mike:
Twitter: @signthefronts
LinkedIn: Michael Loftus
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Links & mentions:
Connor's Landscape
Building a Blue Collar Empire: Adrian Pinto on Acquiring Minds
7 Years Later: Leaving Wall Street to Buy Small Businesses with Chenmark founders James & Palmer Higgins, on Acquiring Minds
How to Buy Landscaping Businesses: Mike Botkin's second appearance on Acquiring Minds
How to Buy a Landscaping Biz & Boost Profits Quick: Mike Botkin's first appearance on Acquiring Minds
John Wilson on Twitter
Mills Snell on Twitter
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Self-Funded Search vs. Traditional Search Funds
18 april 2022 · 59 min
Lively debate between Greg Geronemus & Robert Graham about the 2 most common models searchers use to acquire a business. Lees meer
Covered in the debate:
Quick definitions of each model
How the economics differ
Why are traditional search fund terms so fixed?
CEO vs. Owner
Accountability, governance, boards, mentoring
Flexibility & optionality
Relative risk of both models
Probability of close
Probability of success
Assembling the board as a self-funded searcher
Is either model preferable for particular industry targets?
Who is your model not for?
Connect with the debaters on LinkedIn:
Robert Graham
Greg Geronemus
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Links & mentions:
Stanford's 2020 Search Fund Study
Robert's investment firm SIG
Greg's investment firm Footbridge Partners
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8 Figure Exit, 2 Years After Buying the Business
11 april 2022 · 1 uur 13 min
How Keith Leimbach paid 6 figures for a business he saw on QuietLight, then exited for 8 figures two years later. Lees meer
*** Register for live episode here: https://bit.ly/3r6P1bD ***
Themes from Keith’s interview:
The difference between buying and starting a business
It’s never “just add marketing,” even when it seems like it is
Growth by creating new products that customers are telling you they want
Not being afraid to outsource or delegate
Why Amazon FBA businesses aren’t for everyone
The Smash My Trash franchise
Building laundromats from scratch
Keith’s near-death plane crash
Connect with Keith:
On LinkedIn: Keith Leimbach
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Links & mentions:
QuietLight
Empire Flippers
Website Closers
Transworld Business Advisors
Smash My Trash
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2 Common Risks in Search & How to Mitigate Them
7 april 2022 · 27 min
Due diligence expert Elliott Holland looks at industry & owner/seller risk, and exactly what you can do to address them. Lees meer
*** Register for live episode here: https://bit.ly/3NGoSKa ***
How to reach Elliott:
Guardian Due Diligence
LinkedIn
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How to Buy a $4m HVAC Business (at Age 24)
4 april 2022 · 1 uur 5 min
After big success with affiliate marketing online, @Gundwolf sought to acquire & build a more durable business. Lees meer
*** Register for live episode here: https://bit.ly/3tXHIEH ***
Themes from @Gundwolf’s interview:
Appeal of durable offline businesses vs. online marketing businesses
Getting up at 4am to work 4 hours before going to day job
Achieving success in the affiliate marketing world
@Gundwolf’s personal philosophy of goals
Not being taken seriously as a 24-year-old
Protracted acquisition process
The importance of the buyer-seller relationship
Earning credibility among blue-collar crews
Challenges when both buyer & seller are doing their first acquisition
Reach @Gundwolf at:
On Twitter: @gundwolf
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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What to Love About HVAC Acquisitions
28 maart 2022 · 46 min
Nathan Lenahan acquired an HVAC company with ~$1.2m in revenue for $400k. He's aiming to double sales in 2022 to $2.72m. Lees meer
Themes from Nathan’s interview:
The appeal of HVAC over other businesses in the trades
All the numbers behind Nathan's acquisition
Benefits of “buying small” in the SMB acquisition world
High professional satisfaction for skilled trades
Acquiring an HVAC business without industry knowledge
The importance of first-rate customer care
Leveraging multiple acquisitions to create a platform for easier home ownership
Reach Nathan Lenahan at:
On Twitter: @n8lenahan
LinkedIn
Bart's Heating & Air
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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How & When to Make Changes at Your Acquisition
24 maart 2022 · 54 min
This is the rebroadcast of a panel that Acquiring Minds recently moderated at the annual ETA Summit at MIT. Lees meer
MIT's panel description:
"First do no harm, then pull on the growth levers." Should you wait to make changes? Or take every opportunity you see? How and when should you make changes to your team or to your organizations that will help you get the most out of your organization?
Speakers:
Trish Higgins - Partner, Chenmark Holdings; CEO, Cap’n Fish Holdings. Trish Higgins is a founding partner at Chenmark Holdings, a Portland, Maine based firm focused on the acquisition and long-term ownership of small businesses throughout North America. Outside of work, Trish can be found spending quality time with her husband and business partner, James, and their two kids.
Markus Scott - CEO, EyeQ Monitoring. Markus Scott is currently the CEO of EyeQ Monitoring, an AI-enabled surveillance and business intelligence technology company located in Atlanta, GA. He acquired the business in 2015 after raising a search fund at Kellogg in 2013. Prior to Kellogg, he worked in middle market private equity and played football at the University of Florida. He is married with two small kids, Ava (8) and AJ (7), and enjoys coaching, spearfishing and bourbon in his downtime.
Kush Das - CEO, Ennoble Care. Former healthcare consultant, healthcare lawyer, and EMS provider with value-based and community-based care experience. Kush acquired Ennoble Care in 2021.
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Shut Out by Industry Brokers, an Entrepreneur Finds a Way
21 maart 2022 · 58 min
Having witnessed the power of clean books, Patrick Dichter was driven to buy a $1.2m bookkeeping & accounting business. Lees meer
Themes from Patrick’s interview:
The appeal of bookkeeping for acquisition entrepreneurs
Seeing the power of clean books to transform a small business
Messaging used to reach out to owners of accounting & bookkeeping firms
Definition of bookkeeping vs. accounting
What it’s like to acquire a bookkeeping business when you’re not a CPA
Industry- and geography-specific search
Building a proprietary search funnel
Reach Patrick Dichter at:
On Twitter: @patrickdichter
Appletree Business Services
Connect with Acquiring Minds:
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Links & mentions:
Cassi Niekamp on Acquiring Minds: Buying a $1.2m Fencing Business & Earning Trust Quickly
Casey Clark on Acquiring Minds: What to Acquire: 3 Hot Sectors for Business Buyers
RevLocal
Cultivate Advisors
Professional Association of Small Business Accountants (PASBA)
Chris Williams on Acquiring Minds: Stay Open to the Many Flavors of Search
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How to Buy a Business Using Tactics from B2B Tech Sales
14 maart 2022 · 1 uur 8 min
George Vallone unpacks how he used cold outreach to find an off-market cleaning biz doing $1m and buy it for 2x EBITDA. Lees meer
Themes from George’s interview:
Prioritizing recurring revenue in the search criteria
The importance of messaging when approaching business owners
Using a funnel approach in the search
The differences between residential cleaning and commercial cleaning
The economics of apartment turnover
Using customer service as a marketing tool
Getting a good deal by betting big
How to avoid cash flow crunch during transition
Reach George at:
george at george vallone dot com
Nuveldy’s Apartment Turnover Services
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Transatlantic Search for a $1m+ EBITDA Business
7 maart 2022 · 45 min
Before embarking on his search, Alex Glasner interviewed 50 searchers & uncovered 2 key attitudes necessary for success. Lees meer
Themes from Alex’s interview:
Wanting to run a business, but not knowing where to start
Learning from people whose searches failed
The importance of moving quickly with sellers
Buying a mission and not just a job
The value of being decisive in a search
Merging proprietary and brokered search styles
Pausing to understand the business before making another acquisition
Reach Alex at:
alex at workpays dot co dot uk
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Buying a 20-Year-Old Online Business
3 maart 2022 · 33 min
Looking to buy a part-time online biz as he neared retirement, Dave Bramlett found it in a resume service doing $1.5m. Lees meer
Themes from Dave's interview:
Making a career of buying small businesses
Buying a functioning business allows for immediate cash flow
Finding businesses on BizBuySell
Bring in the experts for due diligence
Maintaining a positive relationship with the seller
Know your strengths as a buyer
Always be open to new businesses for sale
Reach Dave at:
dave at resume writing group dot com
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6 Months in the Truck: Buying an Ice Delivery Biz
28 februari 2022 · 57 min
Brandon Adams bought a $850k EBITDA ice delivery company only to discover he'd be doing deliveries himself for 6 months. Lees meer
Themes from Brandon's interview:
Doing a local proprietary search
Identifying brokers you can trust
Managing purchase price after an anomalous year
The silver lining of a due diligence oversight
Being a great leader as a new owner
The appeal of owning businesses in various industries
Reach Brandon at:
brandon at k4inv dot com
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Nailing the Trifecta: B2B + Remote + Scalable
22 februari 2022 · 49 min
Damon Chlarson had 3 key criteria, and he found them in an insulation supplier doing $380k EBITDA and selling for $1.1m. Lees meer
Themes from Damon’s interview:
Defining your acquisition criteria
Finding your niche in the market
Imagining yourself doing the job before buying the business
Tapping into people’s talents
Mental health and business success
Finding opportunities in times of crisis
Looking back and growing ambition
Reach Damon at:
@LumberyardDamon
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Overcoming a Career Rut by Buying a Business
14 februari 2022 · 54 min
Frustrated after losing 3 jobs, Bruce Vann used savings to acquire a 25-employee, 7-figure curtain manufacturer for 2x. Lees meer
Themes from Bruce’s interview:
Paying 2x for a growing 70-year-old business
Buying a business to pull out of a career rut
Why finding a business is like a full court shot
The need for persistence
Abandoning a proprietary search because of seller overvaluations
Chasing down leads and not becoming complacent
The importance of documenting business processes in case of sudden staff departures
Dealing with uneasy staff during the transition period
The experience of acquiring a business as a Black man in the U.S.
Reach Bruce at:
bvann at luxout dot com
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Building a Blue Collar Empire
7 februari 2022 · 1 uur 12 min
After seeing 9-figure businesses built through acquisition, Adrian Pinto bought a landscaping biz to build one himself. Lees meer
Themes from Adrian’s interview:
Buying a $3-5M landscaping business with 15-20% margins
Paying 3x, but rapid growth making it more like 2x
What a buy-side advisor is and when it might make sense to work with one
How COVID helped his search process
Why doing his own search was less stressful than a traditional search would have been
The excitement versus the reality of acquiring bolt-ons to your platform business
Beginning with the idea of building a strong base for future growth (chassis concept)
Waiting & observing for months before introducing changes to company processes
Reach Adrian at:
adrian at georgia scapes dot com
@Adrian_Pinto2
LinkedIn
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7 Years Later: Leaving Wall Street to Buy Small Businesses
31 januari 2022 · 1 uur 16 min
The 3 founders of Chenmark left promising corporate careers to pursue a multi-decade path of acquiring small businesses. Lees meer
Themes from the interview with James & Palmer Higgins:
Why the Chenmark founders decided to do this
Lessons learned from 30+ acquisitions
How the founding thesis is performing 7 years in
The value of an "extreme delayed gratification muscle"
Intellectual stimulation in corporate life vs. small business
Buying big vs. buying small
How has competition in search evolved over the last 5 years
Chenmark’s diversification strategy
Other recommend podcasts where Chenmark has appeared:
Invest Like the Best: Trish and James Higgins of Chenmark Capital - Permanent Equity
Think Like An Owner: Trish Higgins, Chenmark Capital
Think Like An Owner: Trish Higgins – Chenmark Five Years Later
Think Like An Owner: Palmer Higgins – Moving to the Operating Side – Ep. 43
Think Like An Owner: Palmer Higgins – Removing Sales Roles at Mainely Grass – Ep. 61
The Commercial Landscaper: James Higgins - Reinforcing Areas to Create a More Scalable Platform
The ThriveTime Show: What’s Your Business Worth? Buying Small and Mid-sized Businesses with Chenmark Capital
Subscribe to: Chenmark’s Weekly Thoughts.