Acquiring Minds

Register for the webinars:Due Diligence Office Hours - Wed Oct 16 - https://bit.ly/4h3R74oCap Tables 101: How Capital Structure Works When Buying a Business - Thu Oct 24 - https://bit.ly/3zT8sMAJustin Willess liquidated his 401k to buy a $8.5m construction business. He lost the business and may lose his house.Topics in Justin’s interview:Frustration with his consulting careerBuying a construction companyConstruction landscape in Northern VirginiaDiscovering cooked books after transitionSeller refused to release promised fundsEmptying his 401k to make payrollCalm is contagiousClosing the businessWhat he learned from the failed acquisitionWhy he wants to acquire againReferences and how to contact Justin:[email protected] with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryGet $200 off your ticket to the M&A Launchpad Conference in Chicago on October 26th:https://www.malaunchpad.com & enter code ACQUIRINGMINDSLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register for the webinars:Which Business Should You Buy? - Thu Oct 10 - https://bit.ly/3TYdVZ8Due Diligence Office Hours - Wed Oct 16 - https://bit.ly/3BznZl0As a banker Greg Bruns dealt with business owners, wanting what they had. When a friend bought a business, he saw a way.Topics in Greg’s interview:Leaving his banking career to buy a businessBig risks of doing an asset saleHow ownership is different than expectedRisks and benefits to buying smallWhy erosion control matters to infrastructureBeing tied to the construction industryManaging cashflow in a project-based businessHow weather affects his bottom lineInvolving his employees in business decisionsThe good/bad of keeping the seller in the businessReferences and how to contact Greg:[email protected] HydromulchLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabGet $200 off your ticket to the M&A Launchpad Conference in Chicago on October 26th:https://www.malaunchpad.com & enter code ACQUIRINGMINDSWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register for the webinars:Which Business Should You Buy? - Thu Oct 10 - https://bit.ly/47TzaBcMarc Nzojibwami and 2 partners bought a business in Calgary, with a plan to keep buying (and without investor capital).Topics in Marc’s interview:Early attempts at launching companies in universityAcquiring with 2 partnersTheir plan to build a holdco togetherAcquiring a 40 year old sign shopFinancing their deal in CanadaNegotiating purchase price and seller noteOne change they made immediatelyGrowing EBITDA 30% the first yearChallenges and benefits of partnershipsSearching full-time for his next acquisitionReferences and how to contact Marc:[email protected] Imaging GroupGet a free review of your books & financial ops from System Six (a $500 value):Book a call with Tim or email [email protected] and mention Acquiring MindsGet a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HRGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register for the webinars:Which Business Should You Buy? - Thu Oct 10 - https://bit.ly/4gQqKP5Taylor Wallace & Tyler O'Connor return to discuss selling to private equity & the painful reality of managing people.Topics in Taylor’s interview:Evaluating the risk/reward of selling to private equitySelling to private equity but not exitingGood PE vs. bad PETransition to a corporate structureComparing outcomes with tech startupsReferences and how to contact Taylor:TwitterLinkedInTaylor Wallace’s original Acquiring Minds interview: Buying Doggy Daycares After 10 Years in TechTopics in Tyler’s interview:Comparing his military service with business ownershipUnexpected hospitality aspect of the businessBeing both CEO and the sales departmentDelegating more to his general managerWorking capital in a seasonal businessReferences and how to contact Tyler:Tyler O’Connor’s original Acquiring Minds interview: Using $100k to Buy a 7-Figure Dream BusinessSMBootcampBird Golf AcademyGet $200 off your ticket to the M&A Launchpad Conference in Chicago on October 26th:https://www.malaunchpad.com & enter code ACQUIRINGMINDSWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryGet a free review of your books & financial ops from System Six (a $500 value):Book a call with Tim or email [email protected] and mention Acquiring MindsConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

George Tibil & Keith Fields bought a $1.1m janitorial business with falling revenues. 9 months later, sales are up 60%.Topics in George and Keith’s interview:Their dissatisfaction with the corporate ladderCalling on Acquiring Minds guests for search adviceAcquiring a ServiceMaster Clean franchise locationWhat changed their minds about franchisesFiring their first employee before taking ownershipCleaning all night when business was understaffedManaging an immigrant-heavy workforceTurning the culture around40% growth without outbound salesPower of good partnershipsReferences and how to contact George and Keith:ServiceMaster Clean BuffaloGeorge Tibil LinkedInGeorge Tibil TwitterKeith Fields on LinkedInGet a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HRLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register for the webinars:Legal Office Hours (Deal Structure & Its Tax Implications) - Thu Sept 26 - https://bit.ly/4dhSAAXHow to Hire an Operator to Replace Yourself - Fri Sept 27 - https://bit.ly/3MU6hLuDustin Fusillo bought a struggling ATM parts & services business. Unhappily, the decline continued under his ownership.Topics in Dustin’s interview:Starting a private school in FloridaPersonal growth after divorceLosing money in 3 business venturesReaching out to successful people for adviceBacking out of a bad deal after selling his home and movingBuying a turnaround ATM businessLiquidating inventory to a competitorLearning to manage anxiety and angerImportance of an industry-specific accountantHis current role as a P&L managerReferences and how to contact Dustin:LinkedInTwitterGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamGet a free review of your books & financial ops from System Six (a $500 value):Book a call with Tim or email [email protected] and mention Acquiring MindsGet $200 off your ticket to the M&A Launchpad Conference in Chicago on October 26th:https://www.malaunchpad.com & enter code ACQUIRINGMINDSConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register for the webinars:Legal Office Hours (Deal Structure & Its Tax Implications) - Thu Sept 26 - https://bit.ly/4grubvDHow to Hire an Operator to Replace Yourself - Fri Sept 27 - https://bit.ly/3zgUbJrCorey Robinson bought 4 locations in the legacy franchise Batteries Plus. He quickly bought 8 more, growing to $10m/yr.Topics in Corey interview:Leaving the security of his corporate jobWhat he likes about Batteries PlusBuying an expansion location for $100k cashChanging the culture at one locationRemotely managing Texan teams from IowaAn HVAC acquisition that went poorlyWhat he learned about making big changesOperating an independent business compared to a franchiseThe toll it took to spread himself over multiple industriesHis current role as an investor in small business acquisitionsReferences and how to contact Corey:Webinar cited in the intro: How (and Why) to Choose a Franchise as an Acquisition EntrepreneurLinkedInInstagramBatteries PlusBrian Beers Acquiring Minds interviewWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryGet a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HRLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register for the webinars:Due Diligence Office Hours - Thu Sept 19 - https://bit.ly/3B2oF29How Much to Budget for a Self-Funded Search - Fri Sept 20 - https://bit.ly/4e4FWpVLegal Office Hours (Deal Structure & Its Tax Implications) - Thu Sept 26 - https://bit.ly/4emLEn1How to Hire an Operator to Replace Yourself - Fri Sept 27 - https://bit.ly/3ZrbCl1It was a revelation when Brittney Orellano heard about buying businesses. 6 months later, she'd done it herself.Topics in Brittney’s interview:Running a property management business while acquiringWinning over the employees after transitionUnexpected costs of maintaining equipmentCashflow problems led to layoffs in off-seasonGetting used to project-based revenuePutting an extra out-of-pocket $30k into the businessUsing local service ads on Google through slow seasonBeing inspired by Codie Sanchez and Tommy MelloComparing startups with acquired businessesOwning and operating a business with her husbandReferences and how to contact Brittney:[email protected] MelloCodie SanchezLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabGet a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HRWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register for the webinars:Due Diligence Office Hours - Thu Sept 19 - https://bit.ly/4d27MSAHow Much to Budget for a Self-Funded Search - Fri Sept 20 - https://bit.ly/4gk4XPHLegal Office Hours (Deal Structure & Its Tax Implications) - Thu Sept 26 - https://bit.ly/3zl0H1wHow to Hire an Operator to Replace Yourself - Fri Sept 27 - https://bit.ly/3TuzvEGRory Tyer bought the nursery where he'd been a loyal customer. Today it generates not just cash for him, but peace.Topics in Rory’s interview:Searching by driving aroundAdvantage of buying in a high-growth areaBuying a business his kids would be proud ofGetting a “screaming deal” on a garden centerNegotiating an unlisted dealExplaining deal structure to a sellerChallenges of staffing a business with seasonalityDecision to stay closed on SundaysInsurance costs tripling after acquisitionGardening as the antidote to screen fatigueReferences and how to contact Rory:[email protected] South Pleasantburg NurseryGet a free review of your books & financial ops from System Six (a $500 value):Book a call with Tim or email [email protected] and mention Acquiring MindsGet $200 off your ticket to the M&A Launchpad Conference in Chicago on October 26th:https://www.malaunchpad.com & enter code ACQUIRINGMINDSGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register for the webinars:Thu Sept 12 - How Big a Business Should You Buy? - https://bit.ly/3XmtR8vThu Sept 19 - Due Diligence Office Hours - https://bit.ly/4ghprZbFri Sept 20 - How Much to Budget for a Self-Funded Search - https://bit.ly/4e1QjeqAcquiring a $2.5m pallet manufacturer was Michael Kelker's first step to building a legacy business for his family.Topics in Michael’s interview:Self-funded vs. traditional vs. independent sponsorshipCarrying on his family legacy in manufacturingHis goal of having control over his workAcquiring a custom pallet manufacturerGetting the deal done during CovidChallenges with the appraisalNavigating the lumber price surgeHiring a banker as CFOLearning from his employees and customersOptimism despite pallet industry downturnReferences and how to contact Michael:[email protected] RiverdaleGet $200 off your ticket to the M&A Launchpad Conference in Chicago on October 26th:https://www.malaunchpad.com & enter code ACQUIRINGMINDSGet a free review of your books & financial ops from System Six (a $500 value):Book a call with Tim or email [email protected] and mention Acquiring MindsWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register here for the webinar, How Big a Business Should You Buy?https://bit.ly/4cSC6isTopics in Jackson’s interview:Fulfilling his dream of living on the beachTransitioning from real estate to restaurantsBuying a nostalgic restaurant with his friendUnique aspects of owning a business in a tourist townCashflow advantage in restaurantsLack of competition for acquiring restaurantsFinding and installing an experienced operatorEvaluating a restaurant’s potentialAcquiring a second restaurant with 4 locationsInvesting in equipment and technology that increases salesReferences and how to contact Jackson:Cowboy GroupJackson Speaks TwitterJackson Speak's LinkedInPizza by the SeaCowgirl KitchenGet a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HRLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register here for the webinar, How Big a Business Should You Buy?https://bit.ly/4dPunmCWithout backgrounds in business, Julie & Janna Hottinger have grown the $2.1m trades business they bought last year 50%.Topics in Julie and Janna’s interview:Being warned away from the asphalt industrySisters who bought a construction businessHow the seller worked to ease the transitionAcquiring with no prior business experienceSlowly taking the all-paper business digitalCash flow challenges as a subcontractorBuilding trust with the existing teamGrowing revenue by hiring more employeesHow Covid affected commercial business spacesWhy industry trends aren’t always accurateReferences and how to contact Julie and Janna:Janna’s LinkedInJanna TwitterJulie’s LinkedInJulie [email protected]@signature-woodworking.comSignature WoodworkingGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamGet a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HRLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

An engineer at heart, Mike Dey set his sights on buying a manufacturing business for the next stage of his career.Topics in Michael’s interview:Pivoting from aerospace engineering to business ownershipSelling his real estate investment to buy a businessBeware turning your passion into your incomeBuying a business in his 40’sHow risky is business ownership?The risk build-up model of valuing a businessSaying no to a friend’s investmentBuying a business bundled with real estateManaging a blue collar workforceHaving to suddenly switch lendersReferences and how to contact Michael:LinkedInTwitterAmerican Spray TechnologiesWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryGet $200 off your ticket to the M&A Launchpad Conference in Chicago on October 26th:https://www.malaunchpad.com & enter code ACQUIRINGMINDSGet a free review of your books & financial ops from System Six (a $500 value):Book a call with Tim or email [email protected] and mention Acquiring MindsConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register here for the webinar, Legal Office Hours: Common Legal Diligence Issueshttps://bit.ly/4dWmPxVAfter 5 years of owning a scale business, Matt Bauer & Chris Hartman were burning out. Fortunately they'd created value.Topics in Matt and Chris’s interview:Two military buddies bought a scale businessDemanding grind of the industryDownside of providing a mission-critical serviceBuilding a sales team to grow the businessChallenges in training techniciansAttempting to acquire a competitorDoubling earnings in 5 yearsDeciding it was time to sellTheir 8-figure exitInvesting in a port-a-potty startupReferences and how to contact Matt and Chris:Matt Bauer LinkedInChris Hartman LinkedInChris Hartman Twitter12 South Capital Partners----- SPONSORS -----Get a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HRLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund Team----- Connect with Acquiring Minds -----See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register here for the webinar, Legal Office Hours: Common Legal Diligence Issueshttps://bit.ly/3ySUJ7RTopics in Meredith & Michael’s interview:Buying an employment screening companyThe seller staying on as an employeeStrict industry regulations serve as a moatUpgrading technology after acquisitionHow the seller eased clients through the transitionWhy they’re not worried about AIMeredith’s growth as a managerBuying a business as a young coupleWhy this may be a difficult industry to roll upPersonal impact of owning a businessReferences and how to contact Meredith & Michael:Meredith LinkedInMichael LinkedInMeredith TwitterMichael TwitterBackgroundConnect----- SPONSORS -----Get a free review of your books & financial ops from System Six (a $500 value):Book a call with Tim or email [email protected] and mention Acquiring MindsGet $200 off your ticket to the M&A Launchpad Conference in Chicago on October 26th:M&A Launchpad Conference & enter code ACQUIRINGMINDSWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital Advisory----- Connect with Acquiring Minds -----See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register here for the webinar, Legal Office Hours: Common Legal Diligence Issueshttps://bit.ly/3YQP2lpNiklas James, Adam Borcz, and Tony Cappeart reflect on terms, risk & reward of the still-young self-funded search model.Topics in Search Investor Roundtable:White collar buyers of blue collar businessesDesirable traits for searchersBalancing investor returns and personal gains3 common modeling mistakesRole of put options in dealsHow searchers sabotage their own dealsRealistic expectations for business growthHope is not a strategyOperational experience trumps finance knowledgeSelf-funded search termsReferences and how to contact panelists:Niklas James LinkedInAdam Borcz LinkedInTony Cappaert LinkedInAdam Borcz’s Acquiring Minds interviewNiklas James’s Acquiring Minds interviewWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register here for the webinar, Legal Office Hours: Common Legal Diligence Issueshttps://bit.ly/46OH4LNRyan Sullivan's group is buying businesses with investor capital, SBA loans & operating partners — but it's not a fund.Topics in Ryan’s interview:“Moneyball approach” to buying businessesMaking a career change at 48Why it’s hard to find a good businessBuying and holding manufacturing businessesOperating a holdco with 5 partnersGenerating returns from cash flows, not exitsHow soon to make changes (and exceptions)What he loves about having partnersFunding deals one at a timeMoving a business and retaining 100% of staffReferences and how to contact Ryan:LinkedInNorth Park GroupGet a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HRLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

3 top players in SBA lending to the searcher ecosystem discuss what they're seeing in the market as of summer 2024.Topics in SBA Lender Roundtable:Role of personal guarantee in SBA loanWhy valuations remain highRising amount of equity in dealsHow to find the right lenderIndustries: what’s hot, what’s notFinancing for fast-growth businessesIncrease in forgivable seller notesMore re-trading in recent yearsImportance of buyer-seller trustSBA rule changes and their impactReferences and how to contact panelists:Lisa Forrest LinkedInLisa Forrest TwitterLisa's weekly office hours on Wednesdays & ThursdaysMatt Dolsky LinkedInBrad Hettich LinkedInSmithlist is a job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:Smithlist - Operate & Lead a BusinessGet a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HRGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Gabe Perez sought a way out of corporate while Kristen sought a way back to working. Buying a $4m business offered both.Topics in Gabe and Kristen's interview:The role Acquiring Minds played in their acquisitionAcquiring a cold storage manufacturerPaying a premium for a growing companyBuying a business three hours awayRisks of taking on big projectsImplementing video conferencing Impact of business ownership on their familyKeeping business and family time separateGetting his lender comfortable with the business’s cyclicalityTheir goal of creating a great workplaceReferences and how to contact Gabe & Kristen:Gabe’s LinkedInKristen’s [email protected] Structures of New EnglandNew Majority CapitalChristian Bateson’s episodeWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabSmithlist is a job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:Smithlist - Operate & Lead a BusinessConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Will Gano was rewarded for his persistence & vision when he bought an 8-figure, 125-year-old ingredients manufacturer.Topics in Will Gano’s interview:Getting experience in the food industryDoing outreach while working full timeHiring a buy-side broker to search for himGoing through years of “search purgatory”Writing a personal letter with his LOIBuying a food ingredient manufacturerThe upside of losing a major client before the transactionImportance of food safetyJumping through hoops for licensingInfluence from his late grandfatherReferences and how to contact Will Gano:LinkedInBear StewartCalder CapitalWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryGet a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HRSmithlist is a job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:Smithlist - Operate & Lead a BusinessConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Rob Carpenter was eager to start operating, so it only took 90 days to start searching then buy a $200k SDE business.Topics in Rob’s interview:His background in AI and software developmentHis desire for a lower-stress lifestylePrioritizing speed in his business searchChanging his mind about franchisesBuying 3 Merry Maids territoriesDigitizing processes in the businessHow labor turnover affects customer turnoverBenefits of a negative cash cycleComparing startup culture with running a small businessPossibilities of bolt-ons in the futureReferences and how to contact Rob:[email protected] MaidsGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabSmithlist is a job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:Smithlist - Operate & Lead a BusinessConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Years after one venture ended in failure, Jeff Velker bought a $2.5m pen maker with a strong brand & devoted customers.Topics in Jeff’s interview:His experience as a franchiseeBankruptcy after the 2008 crashThe difference between buying a job and owning a businessLosing his favorite pen led him to a pen companyAppeal of pens in our digital ageAcquiring with 2 partnersNegotiating with a seller who won’t go lowerGetting buy-in from spousesThe risks of having his manufacturer in TaiwanHis goal of $10M in 10 yearsReferences and how to contact Jeff:[email protected] 51Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabSmithlist is a job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:Smithlist - Operate & Lead a BusinessConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Jordan Evans left tech & bought a tiny, decades-old language services business. 6 years later, revenue is 17x larger.Topics in Jordan’s interview:Acquiring his parents’ language services businessSpending 2 years preparing the dealOverpaying for a 180k SDE businessDoubling the businesses through organic growthPros and cons of seller notes“We’re buying a bucket of people and problems”Bolting on language companies as a growth strategyHow fast they integrate newly acquired businessesOpportunities for white-collar rollupsGrowing from 4 to 42 employeesReferences and how to contact Jordan:LinkedInTwitterLanguage NetworkSimple Numbers, Straight Talk, Big Profits!: 4 Keys to Unlock Your Business Potential by Greg CrabtreeGet a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HRGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamSmithlist is a job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:Smithlist - Operate & Lead a BusinessConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register for the webinar:How (and Why) to Choose a Franchise as an Acquisition Entrepreneur - https://bit.ly/4fa3CKBBrett Kennedy has doubled & strengthened the sub-$1 million moving business he bought — but it hasn't been without pain.Topics in Brett’s interview:Being raised in an entrepreneurial familyBuying Furniture Taxi, a moving companyDriving the truck himself when employees don’t showSurprises the seller failed to mentionGood and bad of buying smallDaily stressors of running a small businessHiring a GMDoubling the business despite a shrinking marketYour employees are your customers The next company he wants to buyReferences and how to contact Brett:LinkedInAdrian Pinto’s episodeAtlanta’s Furniture TaxiWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabSmithlist is a job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:Smithlist - Operate & Lead a BusinessConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register for the webinar:How (and Why) to Choose a Franchise as an Acquisition Entrepreneur - https://bit.ly/3WwZqNRWhen Dustin Carreon reached a ceiling in his first small business, he used the profits to start buying other businesses.Topics in Dustin’s interview:Growing up in his parents’ scrapping businessInheriting and growing Freelance ElectronicsLearning the most from a difficult acquisitionTiming and luck mattersKey person risk in small-staff businessesHis mistake of expanding before establishing expectationsCross-training employees as part of his holdco visionAn investor attitude compared with an entrepreneur attitudeBuilding a holdco without a college educationChallenge of writing down processesReferences and how to contact Dustin:LinkedInTwitterCOI HoldingsSmithlist is a job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:Smithlist - Operate & Lead a BusinessGet a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HRGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register for the webinars:Search Investor Roundtable: State of the Market - https://bit.ly/4cvUOwVOvercoming Common Deal Sticking Points - https://bit.ly/4cD9z17How (and Why) to Choose a Franchise as an Acquisition Entrepreneur - https://bit.ly/3LpQEuKHow Adam Markley evaluated thousands of businesses for sale and bought a handful of his own (6 in his portfolio today).Topics in Adam’s interview:Using online courses to teach business acquisitionSBA loans vs. seller notesRaising your potential with partnershipsHis holdco of 6 diverse companiesHow acquisitions in the UK and US differPower of personalized outreach2 main tracks to business acquisitionAn operating partner who emptied the bank accountsWorking in a medical staffing agency before buying itLooking at both on and off-market businessesReferences and how to contact Adam:[email protected] Capital GroupAdam’s fractional CFO firm, Veracity CFOTato Corcoran’s episodeLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register for the webinars:Search Investor Roundtable: State of the Market - https://bit.ly/4cCMyuZOvercoming Common Deal Sticking Points - https://bit.ly/3LkCpr3How (and Why) to Choose a Franchise as an Acquisition Entrepreneur - https://bit.ly/4f2hCGcNick Haschka & Dillan Ferguson are 5 months and 2 acquisitions into a roll-up targeting $50-60m revenue in 5 years.Topics in Nick and Dillan interview:How Nick and Dillan met on TwitterThe future of reliance on generatorsServing both residential and commercial customersSeparating the business into service and installation teamsDoubling the number of employeesAtmospheric river caused a crisis 3 weeks after acquisitionBeing a leader is different than being an employerDeveloping their own softwareWhere they find their techniciansComparing the risk of an asset purchase and a stock purchaseReferences and how to contact Nick and Dillan:Nick Haschka TwitterNick Haschka LinkedInDillan Ferguson TwitterDillan Ferguson LinkedInOnPoint GeneratorsGet a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HRGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register for the webinars:SBA Lender Roundtable: State of the Market - https://bit.ly/4bydwTeDue Diligence Office Hours - https://bit.ly/3WbVpxTSearch Investor Roundtable: State of the Market - https://bit.ly/45SWMEYPurchase Agreement Fights: How to Avoid (or Win) Them - https://bit.ly/4eQ7z79How Dominick Blue bought an air duct cleaning business and took it into HVAC services, all while retaining his W-2.Topics in Dominick’s interview:Keeping his W-2 while acquiring companiesMistakes he made during diligenceRevamping service offeringsLooking for “diamond in the rough” leadersExpanding from air duct cleaning into HVACHis fetal position momentBeing ghosted by his bankBuying a business while expecting a babyAdvantage of selling directly to consumersDrawing from his training in the U.S. MarinesReferences and how to contact Dominick:LinkedInTwitterAir ASAPWinning Moves by Dan CremonsLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register for the webinars:SBA Lender Roundtable: State of the Market - https://bit.ly/4eTZ8YnDue Diligence Office Hours - https://bit.ly/3WbAs6hSearch Investor Roundtable: State of the Market - https://bit.ly/4eVYDxcPurchase Agreement Fights: How to Avoid (or Win) Them - https://bit.ly/4bwcgQxBy doubling a $3m EBITDA business Juan Aguilar bought with traditional search fund terms, he is able to hold it forever.Topics in Juan’s interview:Huge challenge of buying a business in Central AmericaBuying a door manufacturer in GuatemalaImplementing EOSMoving his focus from “how” to “who”Raising prices 25%Focusing on service, quality, and volumeFinding a CEO to replace himHaving a liquidity event without exiting the businessTransitioning towards a permanent capital modelPlan for a holdcoReferences and how to contact Juan:LinkedInPaltus CapitalGet a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HRGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register for the webinars:Thu July 11 - SBA Lender Roundtable: State of the Market - https://bit.ly/4eJqUXBFri July 12 - Due Diligence Office Hours - https://bit.ly/3VPQf9pWe caution against thinking you can find it: 100% seller financing. But Renan Cortez did — and on a sizable business.Topics in Renan’s interview:His background as an Army medicLearning about acquisition via Codie SanchezUsing a virtual assistant to search for a businessNegotiating a 100% seller noteFeeling motivated by philanthropySpending too much money too fast after transitionGetting a bridge loan to make payrollRebranding the restoration companyRaising capital for growthHis large roll-up visionReferences and how to contact Renan:LinkedInTwitterSyndicate Building SolutionsSyndicate Venture GroupGet a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HRGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamSmithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:Smithlist - Operate & Lead a BusinessConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register for the webinars:Thu July 11 - SBA Lender Roundtable: State of the Market - https://bit.ly/3XSdIcGFri July 12 - Due Diligence Office Hours - https://bit.ly/3W1zQA6Garrison Snell enjoyed a modest exit at age 24. By 30, he'd parlayed that into a holdco with $9m EBITDA and a mission.Topics in Garrison’s interview:Building and exiting a recording artist marketing agencyHis objective to do the most good for the most peopleEarly ventures into real estateBuying and quickly selling a restaurantAcquiring in the manufacturing spaceUnderstanding and applying Porter’s 5 ForcesAdvantage of being a low-cost, essential supplierRecent leadership challenges at a new acquisitionBuilding an indefinite holding companyPower of a community-minded small businessReferences and how to contact Garrison:[email protected] Quinn’s episodeCompetitive Strategy by Michael E. PorterSmithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:Smithlist - Operate & Lead a BusinessWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register here for the webinar, How to Buy a Business & Hire an Operator at Oncehttps://bit.ly/3KJnYwg7 years ago Dan Verboski bought a sign business with $650k in earnings. He's doubled it, but ownership has taken a toll.Topics in Dan’s interview:Background in the Marines and retailBuying a sign company in Tyler, TexasCulture clashes and problem employeesSelling off his real estate to keep the business goingHow he learned to fire fasterBuilding a new company cultureMaking personal changes to recover from burnoutStanding out by answering the phoneWhat he would do differently next timeHis growth as a leaderReferences and how to contact Dan:LinkedInTwitterLeon’s Signs Inc.ETA Circle in Houston, where Dan will be appearing on July 10thGet a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HRLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register here for the webinar, How to Buy a Business & Hire an Operator at Oncehttps://bit.ly/3KH9RaSWill Smith has partnered with Niklas James & Max Lummis in a fund to invest in searcher & independent sponsor deals.Topics in this episode:Why raise a fund?How a fund comes togetherWhat it was like to raise money from LPs for a blind poolWhy a business might be great for a searcher but not an investorHow different investors have different needsWhy small acquisitions are hard for a fund to invest inValue of community in a fundMinds Capital’s process to assess dealsEvaluating deal strengths systematically“Best deal of the month” filterReferences and how to contact Niklas, Max and Will:Minds Capital (to learn more & submit a deal)Minds Capital page for investorsMax LummisNiklas JamesWill SmithWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register here for the webinar, How to Buy a Business & Hire an Operator at Oncehttps://bit.ly/3Rto4Mc--Get Remediation Company CIM - Request the NDA to get the CIM of the Midwestern niche remediation company.https://bit.ly/45spnAI--Before acquiring a commercial painting business doing around $2m, Colin Gates worked on a crew as one of its painters.Topics in Colin's interview:Aggressively saving while working in private equityRecurring revenue is BSDon’t sweat getting the perfect purchase priceWorking as a painter for a month before buyingManaging prima donna employeesHis strategy of constantly bidding jobs and hiring Putting in a project manager and a GMWhy he stopped requiring depositsThe seller staying on as an employeeImportance of cash flow in keeping a business goingReferences and how to contact Colin:LinkedInTwitterMastercraft [email protected] is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:Smithlist - Operate & Lead a BusinessGet a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HRLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register here for the webinar, How to Buy a Business & Hire an Operator at Oncehttps://bit.ly/3RuI018--Get Remediation Company CIM - Request the NDA to get the CIM of the Midwestern niche remediation company.https://bit.ly/4b6rnjA--JD Beck transformed a small (and small-town) plumbing business, took it into a larger market, and tripled it in a year.Topics in JD’s interview:Lessons learned from a failed dealBuying a tiny plumbing businessBringing operations into the 21st CenturyLearning from hiring mistakesExpanding through further acquisitionRaising prices and employee payMaking sacrifices to run the businessCompetitive landscape in home servicesHome services pricing modelsYour reputation determines the talent you attractReferences and how to contact JD:Ben Rizzo’s EpisodeNick Patrick’s episodeTwitterMountain Valley [email protected] is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:Smithlist - Operate & Lead a BusinessWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Elliott Edge started as a searcher looking for a single business, then pivoted to a roll-up. He's 7 acquisitions in.Topics in Elliot’s interview:His philosophy on submitting LOI’sAcquiring a managed service provider amidst CovidHis wife’s role in the acquisitionValue of an MBA in acquiring a businessQuickly going remote when Covid hitBuilding trust with employeesHow soon and fast to make changesCreating more value through roll-upsIntegrating new acquisitions into the roll-upHis belief in continuous changeReferences and how to contact Elliot:Recording of the The Anatomy of an LOI webinar with Sam RosatiLinkedInVelonex TechnologiesSmithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:Smithlist - Operate & Lead a BusinessWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryGet a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HRConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register here for the webinar, The DO's & DON'Ts of the LOI (legal office hours)https://bit.ly/3VeWF1BMatt Pohl & his wife bought a small welding business with extreme key person risk. They 4x'd the business in 2 years.Topics in Matt’s interview:Starting, growing and selling his own businessAcquiring a welding business with his wifeLearning how to hire weldersThe difficulties of hiring through a staffing agencyTransient nature of weldersGrowing while maintaining marginsStress of running a businessComparing zero-to-one to acquisitionCashflow management in a project-based businessUsing ReWild’s methods to grow the businessReferences and how to contact Guest:[email protected] Rewild GroupSmithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:Smithlist - Operate & Lead a BusinessLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register here for the webinar, The DO's & DON'Ts of the LOI (legal office hours)https://bit.ly/3yCQaOwDespite having no experience in manufacturing, Jens Grudno jumped when he heard about a failing straight-razor business.Topics in Jens’s interview:Buying a bankrupt razor manufacturerEmbracing risk in German business cultureCleaning out and moving a 116-year old businessAnother company poaching their clientsPitfalls to avoid when buying a businessDeveloping a new, innovative productOperating a company six hours from homeComparing start-ups to acquisitionValue of going where there's less competitionThe craft of manufacturingReferences and how to contact Jens:[email protected] OnlineSmithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:Smithlist - Operate & Lead a BusinessRegister for the Self-Funded Search Conference, September 13th - 15th in Dallas:Self-Funded Search ConferenceLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabGet a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HRConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register here for the webinar, The DO's & DON'Ts of the LOI (legal office hours)https://bit.ly/4538koZStephen Quindlen & Paul Westhart have found powerful multipliers that could yield huge returns in an unlikely industry.Topics in Stephen and Paul’s interview:Acquiring auto repair shopsRetaining talent by adding employee benefitsFleet vs. passenger car businessAlmost losing a foreman on day oneWhy they love the Mountain WestRecruiting California workers to IdahoInnovative real estate and business acquisition strategyOffering quality service and strong warrantiesExecuting the SBA 504’s Green Loan strategyLimitations of the SBA 7(a) loan for roll-upsReferences and how to contact Stephen and Paul:Stephen Quindlen - LinkedInPaul Westhart - [email protected]@bluewrench.comBlue WrenchSmithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:Smithlist - Operate & Lead a BusinessWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamRegister for the Self-Funded Search Conference, September 13th - 15th in Dallas:Self-Funded Search ConferenceConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Matt Drndak bought a parts business with a plan to grow it. It worked — he's doubled earnings. But it's taken patience.Topics in Matt’s interview:Losing everything in the Great RecessionHis experience in franchisesBuying an online store for construction equipment partsLeveraging service to stand out from competitorsDetermining the value of the inventoryServing customers with low computer literacyNon-mechanic buying a mechanical parts businessCapturing the seller’s technical knowledge in YouTube videosDoubling revenue in 3 yearsImplementing EOS for future successReferences and how to contact Matt:LinkedInTwitterDHS EquipmentSmithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:Smithlist - Operate & Lead a BusinessGet a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HRLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Summary from Webflow: The first business Colin King bought was tiny & unpleasant but also the crucial first step to buying more & better ones.Topics in Colin’s interview:Finding his first business (and business partner) on CraigslistDelivering auto parts in the middle of the nightBuying a turnaround silk florals businessWhen his clothing business doubled in revenue overnightDay-to-day logistics of running diverse businessesAcquiring remote businesses: bookkeeping and e-learningImportance of working capital in seasonal businessesPros and cons of having a diverse portfolio of companiesAsking advice for the future of his holdco Finding and managing talent across diverse businessesReferences and how to contact Colin:[email protected] City Capital GroupSmithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:Smithlist - Operate & Lead a BusinessGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Cody Agee thought food testing would be a good recession-resistant business to buy. 2 weeks later, one listed for sale.Topics in Cody interview:Bypassing business schoolCashing out his 401(k) without using ROBSBuying a food safety and testing labThe moat of licensing requirementsHis advantage over much larger competitorsAdjusting purchase price based on quality of earnings reportFinding investors on TwitterPersonally guaranteeing the seller noteHow he uses EBITDAR vs. EBITDAPutting in an enterprise resource planning (ERP) systemReferences and how to contact Cody:LinkedInTwitter/[email protected] Dairy LaboratoryDino SawayaSmithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:Smithlist - Operate & Lead a BusinessWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Jeff Homer bought a small local music school as a fun side hustle. It turned out to be the opportunity of a lifetime.Topics in Jeff interview:Switching from high finance to music schoolsBuying his first music school as a side projectRaising growth equity after first 2 acquisitionsAcquiring a music school every monthArtists’ negative predisposition toward sellingComparing profitability of music vs. danceImportance of general managers in scalingImplementing apps to streamline operationsOther industries with roll-up potentialRolling up 60+ music/dance schools nationwideReferences and how to contact Jeff:LinkedInEnsemble Performing ArtsSmithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:Smithlist - Operate & Lead a BusinessLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabGet a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HRConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Jarett Berke told his intermediary "no restaurants" but changed his tune when he saw what a great business Lou's was.Topics in Jarett’s interview:Finding a business through an accountantWhy restaurants are a tough businessComparing military service to running a restaurantBuying a restaurant with exceptional marginsLearning every job in the restaurantPivoting to delivery during CovidDoing a stock deal instead of an asset purchaseReinvesting by adding tables and renovating60% growth in 6 yearsWhat he likes about the restaurant businessReferences and how to contact Jarett:LinkedInLou’s [email protected] complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Scott Walton bought 2 barely-profitable blue collar companies, changed the culture, unlocked growth & hired a president.Topics in Scott’s interview:Acquiring with a partnerSolving their recruitment problemDoubling revenue in 18 monthsHis 3-step LOI strategyIncentivizing good customer serviceImproving their company cultureChallenges after acquisitionFinancing without the SBACreative deal structuringHis thoughts on buying smallReferences and how to contact Scott:[email protected] Service Expert PodcastGet a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HRLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

4 acquisitions, 3 years after the first deal, and 2 dishonest sellers before Chandra Rao went full-time in his holdco.Topics in Chandra’s interview:Learning from due diligence mistakesLosing $300k in the first yearChallenges with payment terms and working capitalTrue value of a seller noteOne of his partners embezzled from the companyFpppChoosing a conventional loan over SBAThe electrical contracting and fiber optic cabling businesses6x growth in 4 yearsJuggling a roll-up and a W-2A seller who committed fraudReferences and how to contact Guest:[email protected] UtilitiesGet a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HRWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Zach Smith bought a 30-year-old membership business that connects patients with dentists to return it to former glory.Topics in Zach’s interview:His exit from UberDifficulty of starting a marketplace businessWhen spreadsheets meet realityBuying a shrinking businessGoing with a stock sale instead of asset saleCurrent problems with dental insurance plansHow American Dental Care differs from insuranceThe view from the bottom of the J curveHis plan to grow all sides of the marketplaceForgoing an SBA/bank loanReferences and how to contact Zach:LinkedInTwitterAmerican Dental CareGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Most first-timers shy away from buying across borders. Not Christi Loucks, whose Canadian acquisition did $550k of SDE.Topics in Christi’s interview:Buying a business for personal fulfillmentPainful broken dealsChallenges of buying a cross-border business in CanadaThe positive role emotions play in dealmakingLosing (and regaining) 55% of her clients after transitionThe line between cold outreach and spamConstant change in the tech industryUnexpected expenses after transitionPlanning for her maternity leaveHer husband’s return to a corporate jobReferences and how to contact Christi:LinkedInRevenue AcceleratorNeil BeardenGet a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HRGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th:https://www.malaunchpad.com & enter code ACQUIRINGMINDSGarth Fasano searched part time for 5 years before finding a target with very sticky revenue & great business-buyer fit.Topics in Garth’s interview:Searching for 5 yearsBenefiting from the SBA looking at calendar-year financials (not TTM)Top Dog’s unique business modelWhy this business should be bought, not builtHis relationship to a dog training franchiseImpact of outcome-based pricing Purposely hiring less-experienced sales peopleHow Top Dog differs from online marketingExpanding to industries outside of dog trainingHis passion project: ski hutsReferences and how to contact Garth:[email protected] Dog Sales CenterLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Robert Graham & Aaron Blick's first acquisition did $1.2m SDE. Four years later, their roll-up generates $15m in EBITDA.Topics in Robert & Aaron’s interview:Going from lifelong friends to business partnersImpact of private equity on industry roll-upsRunning their companies remotelyA competing business poaching employeesFinancial shocks after taking ownershipWhy they believe in buying bigNecessity of hiring presidents to operate their businessesCompany presidents guaranteeing the SBA loanBlending SBA loans with a roll-up modelHow buyer-seller power dynamics shift after purchaseReferences and how to contact Robert & Aaron:Episode #149 Home Care Business: How to Buy and 2x an AgencyEpisode #218 Taking the Plunge into Extreme OwnershipRobert Graham LinkedInAaron Blick LinkedInRobert Graham TwitterPillar Health GroupSIG PartnersGet a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HRWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter