Acquiring Minds

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

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th:https://www.malaunchpad.com & enter code ACQUIRINGMINDSJohn Murphy pushed through divorce, $500k debt, and a bad broken deal to finally buy a 60-year-old business doing $8m.Topics in John’s interview:Losing a deal one week before closingValue of peer groupsHow real estate compares to business ownershipTaking over a company before the deal closedUnforseen transition expensesCarl Allen’s business buying courseLeaving his W-2 to search for a businessValue of joining industry associationsRestructuring his workforce to increase marginsBuying a company with a management layerReferences and how to contact John:LinkedInDave Cole [email protected] 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

Reid Tileston bought a business that relied on $800k trucks, capex he came to love for the fat margins they produced.Topics in Reid’s interview:Working on the business instead of in itWriting a book about acquisitionPeople are the worst and best part of businessPower of feedback and relationships for business ownersThe company’s slow temp-to-hire processGetting his CDL to be hands-on Moving paper processes to the cloudPros and cons of an Employee Stock Ownership ProgramPersonally testing field service management techRisks of informing employees of a business saleReferences and how to contact Reid:LinkedInTwitterGrit It Done by Reid TilestonWork 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

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th:https://www.malaunchpad.com & enter code ACQUIRINGMINDSRafael Quinn shares the story & principles behind buying 3 businesses in Panama then raising $28m to buy more in the US.Topics in Rafael's interview:Selling everything on Craigslist to move to PanamaBuying his first business Panama from a billboard adHow to buy a business with an operatorHow he decided to build a holdcoSelf-identity as investor vs. entrepreneur3-year dry spell not buying any businessesBeing in "search mode" your whole careerBreaking his own rule by buying a restaurantWhy he turned his sights to the USHow to raise $28m & structure a holdcoWhy buy a furniture retailerReferences and how to contact Guest:TwitterLinkedInAthens PizzaHickory ParkAlternative HoldingsGet 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

The construction services business Christian Bateson bought will do $7.5m in 2024. It also rescued him from the depths.Topics in Christian’s interview:His front row seat to the 2008 financial crisisQualities of a top salespersonBusiness acquisition as a way out of a miserable careerShopping around for an SBA loanChoosing to play to his strengths and outsource his weaknessesDifficulty in hiring for constructionBouncing back and growing after Covid lossesRed flags he ignored when acquiring his second businessHow his finance background benefited himHis $100 million goalReferences and how to contact Christian:LinkedInResolute ServicesWork 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

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th:https://www.malaunchpad.com & enter code ACQUIRINGMINDSPatrick Norris bought a small trash business doing $625k. Five years later and 4.5x bigger, a strategic got interested.Topics in Patrick’s interview:Why acquiring a trash business is easier than starting oneIntricacies of trash disposal pricingNiches within trash servicesCompetition and cooperation in trash servicesThe first question you should ask when considering a trash businessWhy he regrets not hiring a managerHiring for dangerous, strenuous jobs4xing revenue through customer service and Google adsThe cycle of building and selling a trash businessBuying a business without an MBAReferences and how to contact Patrick: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 LabConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Only after Matt Jackson bought a roofing business in the hurricane state did he realize just how big the opportunity is.Topics in Matt’s interview:His experience with AcquiraKeeping the seller as an employeeWhy he likes roofing despite drawbacksHow he satisfied his licensing requirementMoats around spray foam roofingStanding out in the roofing industryHis vision for organic growthHow insurance companies drive demand for new roofsUsing ROBS for financingWhy he won’t buy the ROBS ownership interest back from his 401kReferences and how to contact Matt:[email protected] RoofingThe MLS-style site with for-sale businesses in FloridaLearn 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

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th:https://www.malaunchpad.com & enter code ACQUIRINGMINDSAt age 63, Maurice Thomas wasn't ready to retire, so he bought an electrical contractor with $1m in earnings instead.Topics in Maurice’s interview:Buying a business after age 60Learning the right amount of diligence to do before submitting an LOIImportance of a target statement for searchersHis values-first approach to businessImportance for searchers to “know thyself”Politics and religion in the workplaceGratifying work of coaching employeesHis succession planChallenge of hiring lead electriciansCreating incentives that align with company goalsReferences and how to contact Maurice:[email protected] Line ElectricalWork 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

How Andrew Stordeur bought a 25-year-old furniture manufacturer in Alberta without having to use any of his own capital.Topics in Andrew’s interview:Taking a startup to an IPOCompetition in the wood furniture spaceFinancing without the SBAAdvice for Canadian searchersGetting a 35% seller noteHis 100% financed dealHis plan to increase direct-to-consumer salesBeing the sole breadwinner for a family of 6Deciding not to buy with a partnerHow his company ships faster than AmazonReferences and how to contact Andrew:LinkedInTwitterAll Things CedarVillage WellthLearn 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, Working Capital 101https://bit.ly/3IGEZWQGet $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th:https://www.malaunchpad.com & enter code ACQUIRINGMINDSStephen Olmon & Collin Trimble set out to roll up the alarm industry in Texas. Alarm Masters is their first acquisition.Topics in Stephen and Collin’s interview:All about the alarm, fire, & security industryTheir roll-up strategyMoats in the form of risk and licensing requirementsValuation based on monthly recurring revenueEducating their lenders on industry practicesUsing a holdback to mitigate attrition riskChoosing to offer both installation and serviceThe supply of technicians in this industryThe value of Collin’s sales skillsStrategic questions they asked during due diligenceReferences and how to contact Stephen and Collin:Stephen Olmon TwitterStephen Olmon LinkedInCollin Trimble TwitterCollin Trimble LinkedInAlarm MastersWork 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, Working Capital 101https://bit.ly/3veZaYPAlan Lochridge left a career in consulting to buy a 20-year-old $5.5m hardscaping contractor with strong fundamentals.Topics in Alan’s interview:Years of searching before acquiringUnderstanding the ROBS financing strategyReiterating company values weeklyHis day-to-day role as ownerRestructuring to do more with fewer peopleEmbracing digital marketing and CRM toolsWhy he’s so comfortable with project-based revenueAdvantage of a negative cash conversion cyclePros and cons of using subcontractorsGetting his general contractor’s licenseReferences and how to contact Alan:[email protected] Stone ManGet 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, Working Capital 101https://bit.ly/3IFObuBGet $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th:https://www.malaunchpad.com & enter code ACQUIRINGMINDSDespite an overwhelming transition, today Dan Tagliatela has 17x'd his initial investment and delegated the day-to-day.Topics in Dan’s interview:His background in investingWhat margins indicate about a businessReturn on assets as a quality metricAcquiring a pavement sealing companyGeographic density advantage of the businessHis goal to double volume over 10 yearsReplacing the antiquated robocall machineStress of learning and upgrading at the same timeBuying a window cleaning companyThe Goldilocks approach to managementReferences and how to contact Dan:LinkedInCompetitive Strategy by Michael PorterCompetitive Advantage by Michael PorterGet 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

John Wilson bought & grew a very small plumbing business 26x over the last 7 years, and today has plans to reach $100m.Topics in John’s interview:Growing up in his family’s home services businessTaking over the business at 23Acquiring a turnaround to grow his businessHis first time doing layoffsUsing CertainPath’s model to growTripling his ad spend during CovidWhy he believes in buying smallHis take on installing an operatorHis plan to get to $100MThe taxonomy of blue collar businessesReferences and how to contact John:Owned and Operated (his podcast)The Wilson CompaniesTwitterJohn’s tweet thread breaking down homes services businessCertainPathWork 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

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th:https://www.malaunchpad.com & enter code ACQUIRINGMINDSDanny Fields & Steve Reis bought a decades-old utility supplier seemingly ripe for growth. It was harder than it looked.Topics in Danny and Steve’s interview:Their shared background in the militaryEducating their investors about oil and gasDramatically increasing their cold outreach response rateBuying a business with $1M+ in revenue per employeeDelaying growth to build relationshipsThe pros and cons of having a workforce near retirementAcquiring product lines and building a manufacturing companyDaily stress of running a businessImportance of buying a growing businessThe future of renewable energyReferences and how to contact Danny & Steve:Danny Fields' LinkedInSteve Reis' LinkedInHolland Supply CompanyGet 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

SBA lender Chad Fondriest got the itch to get in the game himself & bought a couple's hobby business doing just $150k.Topics in Chad’s interview:Keeping his W-2 while running the businessQuadrupling revenue in 2 yearsGetting listed on WayfairTradeoffs of selling on AmazonHigh importance of inventory management Explosive growth during CovidHow he estimated market sizeDifficulty of competing in ecommerceForecasting trends a year in advanceGrief and joy of managing creativesReferences and how to contact Chad:Darby Creek [email protected] 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 ACQUIRINGMINDSTato Corcoran packed a lifetime of learning (and tears) into 18 months when she left tech & bought a tiny manufacturer.Topics in Tato’s interview:Connecting with sellers through direct mailHer “Say yes and figure it out later” approachDifficulty in hiring unskilled laborHow she solved her labor issueBeing a single woman in a male industryLearning Spanish to communicate with her employeesHemorrhaging money the first 8 monthsRaising prices 40% without losing customersThe difference between good growth and bad growthDoubling top line revenueReferences and how to contact Tato:[email protected] direct mail piece Tato used to reach business ownersLearn 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

14 months ago, Russ Hadlock bought an auto glass business with $2.3m in sales. Today he is struggling to keep it alive.Topics in Russ’s interview:Inventing the Peloton handlebar trayHis life-changing exit from his companyLooking for stability and safety through acquisitionFear of buying a company that was too big to operateExpenses skyrocketing after transitionImpact of asset purchase on rent and insurance costsLayoffs and belt tighteningRenegotiating his SBA loanConsolidating locations as a Hail MaryNeed to get a job while still owning the businessReferences and how to contact Russ:TwitterLinkedInAutoGlass Clinic & Mobile RadioGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamBook your free tax strategy session for business buyers today:Steed - book your free sessionConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Ben Rizzo bought an unprofitable, 4th-generation elevator business then stabilized, doubled, and sold it within 2 years. Topics in Ben’s interview:His wife-funded search in PittsburghSourcing deals through lawyers and accountants vs brokersAcquiring an elevator repair business in distressQuickly making changes after transitionPouring his own money into the company to stay operationalSurviving the challenges of CovidDoubling the business and selling to private equityCalculating the risk of buying a turnaroundBuying a healthy business for his next ventureCompeting with private equity for acquisitionsReferences and how to contact Ben:Hartwood PointLinkedInGet 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

Nathan Gregory left the music industry to buy Autobody News, a business that could benefit from his experience in media. Topics in Nathan’s interview:Building and exiting a beer koozie brandManaging brand partnerships for pop starsEducating himself on business acquisitionPivoting away from home servicesBuying a media company with a partnerWhy print media isn’t dead His audience-first approachCommitment vs passion for the industryServing a hybrid workforceThe business model for trade publicationsReferences and how to contact Nathan:LinkedInTwitterAutobody NewsAcquiraGet a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HRBook your free tax strategy session for business buyers today:Steed - book your free sessionConnect 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 Raise Equity to Buy a Businesshttps://bit.ly/3SUJhzQGet $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th:https://www.malaunchpad.com & enter code ACQUIRINGMINDSPeter deBaptiste bought a 35-person plumbing business with 2 very technical, hands-on owners 1 hour away from his house.Topics in Peter’s interview:Building operational skills in a start-upAcquiring Joe Cole PlumbingHis disappointing first day as ownerBuying from 2 co-ownersSurprises in employee turnoverLosing clients to a former employeeWhat he likes about the plumbing businessThe complexities of working capital in constructionWhy he recommends holding off on strategyUnderestimating his salary needsReferences and how to contact Peter:LinkedInTwitterJoe Cole PlumbingEpisode with Peter's friend, Morgan McCauley:Taking the Plunge into Extreme OwnershipLearn 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 to Raise Equity to Buy a Businesshttps://bit.ly/3uwHx6yWill Wright bought a big event rental business in December 2018. When Covid hit, he turned crisis into opportunity.Topics in Will’s interview:Benefits of a traditional search fundFeeling like a “wartime president”His brutal first year as ownerValue of a strong company cultureScrambling to fulfill contracts after a large warehouse fireLayoff and salary cuts during CovidBuilding and strengthening the business during CovidCreating an incentive strategy for employeesTexas as an attractive place for businessHow sailing prepared him for leading peopleReferences and how to contact Will Wright:Everybody Matters by Bob Chapman and Raj SisodiaLinkedInPeerless Events and TentsGet 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 Raise Equity to Buy a Businesshttps://bit.ly/3SAWZXdAdam Borcz bought & unlocked growth in a niche-y, 35-year-old blue collar business, almost tripling earnings in 4 years. Topics in Adam’s interview:Adam’s experience working for a fundless sponsorPros & cons of having the federal government as a customerDoubling his work force in a “tough labor market”Why overhead doesn't need to scale with labor forceDoing nothing for the first six months as ownerWhy he invests in traditional search fundsPersonal risk and work involved in self-funded searchBeing on the right side of the SBA loanTying profit sharing to gross profitAdam's decision to hold the business indefinitelyReferences and how to contact Adam:LinkedInTwitterDelta Installation 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

Only after taking a second look at a small wedding catering & venue business did Nick Patrick recognize an opportunity. Topics in Nick’s interview:Buying a business that checked only one boxGetting past major key person riskNick's fear of lacking operational experienceAcquiring without an SBA loan or investorsLearning to lead and handle conflictOperational intensity of a wedding catering businessCash flow advantages due to up-front depositsImprovements he made to the businessRealizing he won’t be able double businessSelling the business for a healthy profitReferences and how to contact Nick:Nick's Linktree: http://linktr.ee/nick.patrickInvest Like the BestGet 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

Doug Johns reflects on his balance sheet, lifestyle, and new identity as business owner after 9 quarters in the seat. Topics in Doug’s interview:His wife's involvement in the businessWorking 60 hours a week His experience with ROBS structure and buyoutSlowdown in home services industryWhy he loves owning & operatingWhen & why to raise your pricesMoving to a small town in a metro areaIntegration of business into daily lifeFierce competition in home servicesGreat benefit of franchises: in-network peer groupsReferences and how to contact Doug:LinkedInDoug John’s first appearance on Acquiring Minds: Opening Up to Franchises to Buy a Great BusinessGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamBook your free tax strategy session for business buyers today:Steed - book your free sessionConnect 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 Anatomy of an LOI:https://bit.ly/4263xl0It was only after Michael Young started an accounting practice that he found the much larger practice he would then buy.How his father’s failed business influenced himBeing rejected by a search acceleratorStarting an accounting firm while searching18 months of dead deals before acquisitionRole of luck in business successRole of his wife How accounting practices are valued and pricedRed flags to look for during diligenceRole of PASBA in shaping accounting practicesHis advice for searchers looking at accounting practicesReferences and how to contact Michael:[email protected] DichterLearn 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 Anatomy of an LOI:https://bit.ly/3U52srPAt his job, Morgan McCauley saw a ceiling on his impact & earning potential. Buying a home care business uncapped both.Topics in Morgan’s interview:His experience working in a family officeInvesting 2 months in a deal that diedTrade-off between equity and salary in traditional searchGeographical search in South FloridaChallenges with healthcare regulationsWhy Robert Graham didn’t like the dealThe decision to invest in business growthLearning curve in the highly regulated home care industryInvesting in business growth vs aggressively paying down debtEvaluating the lifetime value of clientsReferences and how to contact Morgan:LinkedInHow to Buy & Double a Home Care Agency | Jérôme Bouillon InterviewGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamBook your free tax strategy session for business buyers today:Steed - book your free sessionConnect 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 Anatomy of an LOI:https://bit.ly/3SsxKrtRyan Doyle was 2 long years into searching when he walked away from a deal, but he was rewarded for the self discipline. Topics in Ryan’s interview:Lessons learned from a failed dealValue of a thorough quality of earnings investigationWhy “stupid good margins” are a bad signBuying a residential pool business in the Golden Isles of GeorgiaBeing ghosted by his bookkeeper after transitionHis intern who stepped in after the bookkeeper disappearedWhy Ryan’s business doesn’t do pool constructionWhat he likes about seasonalityHis plan to own the Georgia coastHis WhatsApp search support “pod”References and how to contact Ryan:TwitterTurner Point 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 here for the webinar, The Anatomy of an LOI:https://bit.ly/492E8ehBuying a property management business (which he's doubled) helped Brandon Laughridge balloon his real estate portfolio. Topics in Brandon’s interview:Why he changed his mind about service businessesModernizing and professionalizing a property management businessGrowing from 12 to 25 employeesThe pain of owning a business with no pricing powerSetting boundaries with clients around service offeringsPros and cons of property managementHow SMB owners can incentivize Google reviewsThe myth of “passive income” in real estateManaging tenant relationshipsWho should buy a property management business (and who shouldn’t)References and how to contact Brandon:My First Million podcastBrian Shields' recent episode on Acquiring Minds: 2.5 Years from Buying to ExitingTwitterNorth Terrace Property [email protected]’s popular Twitter thread from 2020Book your free tax strategy session for business buyers today:Steed - book your free sessionLearn 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

Holdco entrepreneur Sam Turner shares his vision to build the leading platform for independent M&E businesses in the UK. Topics in Sam’s interview:Importance of patience and flexible timelinesGetting through fetal position momentsBalancing diversification and integrationGurus in the business buying spaceLessons from his first acquisitionChange management in blue collar businessesIncreasing holdco revenue target from £60m to £150mExtending his 5-year plan to 10 yearsHis vision to improve the lives of 30,000 peopleShared services among his four businessesReferences and how to contact Sam:[email protected] Builder: The Road to a Billion by Adam CoffeySam’s first interview with Acquiring Minds: Building an HVAC Holdco to £60m in RevenueGet 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

Luis Aguilar found a $1.5m SDE commercial laundry business on BizBuySell, then a second acquisition followed quickly. Topics in Luis’s interview:Geographical search in FloridaWorking with SIG (Search Investment Group) to raise capitalPitching investors and overcoming rejectionNegotiating a dead deal back to lifeAcquiring a linen rental businessSecond order effects of raising employee wagesLearning all the jobs in the businessMental weight of being the chief decision makerDoing a second big acquisition in the first yearIncreasing profit in both businessesReferences and how to contact Luis:LinkedInBook your free tax strategy session for business buyers today:Steed - book your free sessionLearn 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

Watch the recording of our webinar on Financial Modeling a Self-Funded SBA Acquisition:https://acquiringminds.co/webinars/how-to-model-a-self-funded-sba-acquisitionThe cemetery services biz Philip Blackett bought in 2019 was finally squeezed to insolvency & shuttered 2 months ago.Topics in Philip's interview:Searching locally due to having twinsBuying a cemetery management businessThe downside of flat monthly billingIncreasing expenses straining his bottom lineCovid deaths affecting his customersWorking a second job for a yearUnforeseen weather challengesTaking high-interest loans to keep the business goingImportance of a support systemHis decision to close the businessReferences and how to contact Philip:LinkedInTwitterBusiness Wealth Without RiskBook your free tax strategy session for business buyers today:Steed - book your free sessionLearn 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

Watch the recording of our webinar on Financial Modeling a Self-Funded SBA Acquisition:https://acquiringminds.co/webinars/how-to-model-a-self-funded-sba-acquisitionIn a world of tight labor supply, Tyrel Sulzer & Bob Boniface saw the benefits of buying a school that trains truckers.Topics in Tyrel and Bob’s interview:Choosing to do a partnered searchWhy they chose a traditional search fundInterviewing prospective investorsPotential in blue collar businessesThe future of trade schoolsBuying a CDL schoolThe demand for CDL trainingJob opportunities for graduates of their CDL schoolHigh turnover in long-haul truckingCompetition in the CDL training industryReferences and how to contact Tyrel and Bob:TransTechBob Boniface LinkedInTyrel Sulzer LinkedInConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter Get 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 HR

When he bought an HVAC business in east Tennessee, John Mahony moved in next door & became a member of the community.Topics in John’s interview:Moving from Nashville to rural AppalachiaHis vision to build a holding companyBuying an HVAC business in a small townTransferring skills he learned in the MarinesHiring veterans for their leadership capabilitiesLearning about HVAC through ride-alongsChanges he made after transitionRevenue growth and increasing headcountCyclicality of HVAC revenuePreserving traditions from the previous ownersReferences and how to contact John:LinkedInTwitterGet a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HR Get 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

Pat Lazure explains why Flavor-Crisp, a food product business that uses co-packers, was such a great business to buy. Topics in Pat’s interview:Doing a “spouse-funded” searchStarting a shear-sharpening business while searchingGrowth, churn, & margins in his shear-sharpening businessWhy he wanted to buy a breading and batter mix company so badlySimilarities between food businesses & dropshipping businessesThe role of co-packers in the food industryChallenges & risks in his food businessPsychology of having an SBA loanReflections on owning 2 small businessesThe value of BizBuySell’s Insight ReportReferences and how to contact Pat:LinkedInRock Paper ShearsFlavor-CrispLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabConnect with A-players who can run your business remotely:More StaffingConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Sam Turner is 3 acquisitions into a 5-year plan to buy HVAC businesses across the UK that together cash flow £6m/yr. (Rebroadcast from August 2022.) Topics in Sam's interview:How the businesses he buys are run and by whomBuying without the benefit of an SBA loanWhy HVAC?Why buying small business is more appealing than real estateHarbour Club with Jeremy HarbourThe value in acquiring businesses in a highly-fragmented industryDeal structure for his first acquisitionSam's goal for revenue/EBITDA/multiple and his own wealthBuying small vs. buying bigBuying an HVAC with mostly new construction vs. maintenance revenueWhite collar people buying blue collar businessesReach Sam at:sam DOT turner AT advantos DOT comLinkedInGet 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

How Doug Johns overcame his reservations about being a franchisee to acquire a dream business with $1.8m EBITDA. (Rebroadcast from September 2022.) Topics in Doug's interview:Buying a franchise vs. independent businessOpening your mind to a franchiseThe many (overlooked) benefits to being a franchiseeCalling yourself "independent investor" instead of "searcher"Running a search like a B2B sales processThe appeal of a deal with few addbacksWhy home service businesses are so appealing as acquisitionsLoving, rather than running from, managing peopleWhy the top home service businesses have more sophisticated funnels than the Fortune 500ServiceTitanWhere the opportunity is when the business you buy is already well-run and matureOwning a plumbing company without knowing anything about plumbingThe numbers of Doug's dealThe exact multiple is way less important than you thinkUsing ROBS to buy the businessWhy high growth can make a business harder to financeUnderstanding debt service coverage ratio (DSCR) thresholdsDoug's tip for choosing an SBA lenderThe $500k value of Doug's appeal to the sellerGoing to meet a seller face to faceReach Doug at:doug DOT johns AT couffley DOT comLinkedInConnect with A-players who can run your business remotely:More Staffing Get 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

Jack McCarthy has acquired 27 pistachio & almond farms from retiring owners, with a plan to build & hold for decades. Topics in Jack’s interview:Jack’s fascination with overlooked businessesGold Leaf’s unique business modelAppeal of farmland as a safe and attractive assetHow farms are valuedHow specialty crops compare to row cropsWhat makes a farm high qualityUsing technology to farm efficientlyIncentivizing farm managersConverting conventional farms to organicLong-term nature of agricultureReferences and how to contact Jack:[email protected] LeafGet a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HR Get 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

Ben Jasper made a change at age 40, acquiring a plastic bag manufacturer with 10 people & a daily start time of 4:30am. Topics in Ben’s interview:Managing a portfolio of $500 million on Wall StreetLeaving finance to prioritize familyBuying a plastic bag manufacturerStarting his work day at 3:30 AMHis intense 2-month initiationCreating a manual and financial model to manage the businessChallenges of maintaining old machineryUnderstanding his employees' personal valuesLong-term vision to hire an operatorNegative revenue growth in the manufacturing industryReferences and how to contact Ben:LinkedInBenjamin Ross GroupLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabConnect with A-players who can run your business remotely:More StaffingConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Eddy Zakes has 2x'd revenue and 4x'd headcount at the snow removal brokerage he bought with a traditional search fund. Notes from the conversation with Eddy:His highly-personal outreach approachEarth Development’s unusual business modelNegotiating with an anxious sellerAcquiring during CovidHow being close to a target business changes rapport buildingBuying a highly seasonal businessOperating across multiple statesConvincing a key employee to stayRisk of customers taking relationships off the platformQuadrupling staff to add management and redundancyReferences and how to contact Eddy:LinkedInTwitterEarth Development Inc.Get a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HR Get 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

Brian Lee Shields bought a barely-profitable property management business intending to improve, grow, & hold it forever. Topics in Brian’s interview:Importance of energy vs talent Brian's partner and their complementary rolesBuying property management companiesImproving their net promoter score (NPS)Building a culture of completion rate measurementRelocating positions and outsourcingImportance of trust in property managementSuccessfully transitioning to a remote-first businessDeciding to sell the businessHis burnout and recoveryReferences and how to contact Brian:TwitterLinkedInTraction by Gino WickmanHigh Output Management by Andy GroveOn the Nature of Long-term Holds: Why Entrepreneurs Should Embrace this StrategyLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabConnect with A-players who can run your business remotely:More StaffingConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Darryl Lindie did a geo-constrained search in Rhode Island to acquire a sign business with $650k of SDE & 25 employees. Topics in Darryl’s interview:His background in the NavyHow getting an MBA might slow you downSearching in a small geographic radiusBuying a signage companyValuing a business with a lot of cash transactionsGetting comfortable with project-based revenueMistakes in due diligenceImproving the culture in 100 daysHiring a supplier to be his GMRaising a fund for New Majority CapitalReferences and how to contact Darryl:[email protected] Majority CapitalWhy Should White Guys Have All the Fun?: How Reginald Lewis Created a Billion-Dollar Business EmpireThe Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for SuccessGet a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HR Get 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

Matt Barnes bought a $400k SDE linen laundry business, channeling his conviction at big decision points along the way. Topics in Matt’s interview:Doing a narrow geographic searchPros and cons of door-to-door proprietary outreach to sellersImportance of having his wife on boardGetting emotionally invested in dealsHis values-based reason for acquiring a businessThe business sustaining fire damage before purchaseBuying a commercial laundry businessNiches within the laundry industryRealities of being an owner-operatorHow hard work builds characterReferences and how to contact Matt:LinkedInProfessional Touch Laundry ServiceZen and the Art of Motorcycle MaintenanceHow to Shorten Your Search to Buy a Business | Sam Rosati InterviewGet 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

Recording of a live panel hosted by EO Silicon Valley with Acquiring Minds host Will Smith moderating. Topics discussed:3 stories of buying businessesWhat the search, due diligence, transition was like for each of the 3 entrepreneursSilicon Valley-style entrepreneurship vs. entrepreneurship through acquisition (ETA)The napkin math of a business acquisition with an SBA loanMoving from white collar to blue collar environmentsIs there a "type" who buys a business?Graduating from buying your 1st business to your 2nd, 3rd, and beyondHow buying a first business can quickly lead to more acquisition opportunitiesInorganic growth vs. organic growthWhat being an investor in search deals looks likeScariest moment from each entrepreneur's journeyQuestion: How do you think about due diligence?Question: Does the softness in the macro M&A market affect activity in search?Question: Thoughts on roll-ups.References and how to contact George, Corey, or Nick:LinkedIn for the panelists: George Goates, Corey Veverka, Nick HaschkaGeorge Goates’ previous interview on Acquiring Minds: The Joys & Pain of Owning a $10m City Bus BusinessCorey Veverka’s previous interview on Acquiring Minds: How to Buy the Business Where You WorkNick Haschka’s previous 2 interviews on Acquiring Minds:How One Small Acquisition Led to 9 More in 5 Years6 Ways Buying a Business Has Changed Since 2016EO Silicon ValleyClub Sportiva in San Jose, site of the panelGet 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

While not a CPA herself, a clear list of buying criteria led Gretchen Roberts to acquire a 16-person accounting firm. Topics in Gretchen’s interview:Overcoming mental blocks about leaving a good jobUsing her marketing skills for proprietary searchAcquiring an accounting firm without accounting experienceBuilding rapport and trust with the teamChanging the business’s nameBeing comfortable managing a remote teamBalancing business ownership and familyHer plan to recruit accountants through part-time rolesWhat makes her accounting firm stand outBuying based on revenue instead of SDEReferences and how to contact Gretchen:LinkedInRed Bike AdvisorsRobert Kiyosaki's Cashflow QuadrantThe Epic Challenge by Roland FrazierChris Williams on Acquiring Minds: System Six: One Year Update | Chris Williams InterviewPatrick Dichter on Acquiring Minds: Shut Out by Industry Brokers, an Entrepreneur Finds a WayPatrick Dichter on Acquiring Minds: How I Achieved 60% Growth in My Bookkeeping Business |Patrick DichterConnect with A-players who can run your business remotely:More Staffing Get 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