Acquiring Minds

George Goates bought a small shuttle business that he's grown 4x in 8 years, partly by running buses for municipalities. Topics in George’s interview:Buying a transport/bussing companyPivoting into operating city busesImportance of relationships in securing contractsImpact of CovidGovernment corruption in urban transitPromotion opportunities for his employees Nasty cost of doing business in bussing: frivolous lawsuitsPotential for inorganic growth through acquisitionsDifferent niches within transportRelevance of a finance background in his businessReferences and how to contact George:LinkedInRTW ManagementLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition Lab 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

Sajama Mitta wanted to make strategic decisions at the head of an organization. Buying her own business was the answer. Topics in Sajama’s interview:Using her investing background to evaluate businessesBuying an environmental health and safety consulting companyHow the founders made themselves replaceable How they keep their clients in compliance with regulationsThe fragmented nature of the industry and opportunities for growthHow California compares to other states on regulationsThe problems she enjoys solvingThe importance of team empowerment and employee satisfactionShifting the quality of revenue and focusing on recurring projectsThe technical knowledge she has gained since buying CDMSReferences and how to contact Sajama:[email protected] Data Management SystemsWomen in Small Business Statistics in the U.S.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 LabConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Manny Saxena quickly bought 3 street-sweeping businesses to become the largest player in NorCal. A big PE fund noticed. Topics in Manny’s interview:The importance of maintaining a strong pipeline during searchWhy he chose a street-sweeping business during COVIDThe transition into running a blue-collar business and motivating the teamWhy he recommends in-person conversations with sellersAdvice for other immigrants in businessThe importance of attitude and soft skills in hiringManaging long-term contracts in an inflationary environmentThe decision to sell the business to a private equity firmThe pros and cons of having a union presenceHis ongoing roll-up strategy in the solar industryReferences and how to contact Manny:LinkedInHBR Case Study: Swept Up in Uncertainty at PowerSweepingMars Equity PartnersConnect 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

Karl Hughes recently bought a podcast production agency & explains why "productized service" businesses are attractive. Topics in Karl’s interview:Starting a super-niche content marketing businessThe benefits of productizing a serviceSaying no to the wrong revenueWhat he learned about using cold outreach to find sellersAcquiring a podcast production company with his partnerWhat he likes about digital businessesHis vision to build a holdcoThe small changes he made immediatelyWhy buying small was the right move for himCashflow management in digital businessesReferences and how to contact Karl:TwitterLinkedInKarl’s article Buying a Business: Acquiring the Podcast ConsultantThe First 90 Days by Michael D. WatkinsDraft.devThe Podcast ConsultantLearn 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

Mitchell Sorkin started by buying 3 ATMs in 2021. Today he has over 140 machines and is targeting $5m EBITDA in 3 years. Topics in Mitchell’s interview:The difference between arbitrage and building a businessMitchell's journey to acquiring 140 ATM machinesHow to evaluate an ATM routeRevenue and margins in the ATM businessChallenges with SBA financingHis most controversial Twitter threadFuture plans to raise a fund3 ways to profit in the ATM businessDealing with theftHow people underestimate ATMsReferences and how to contact Mitchell:Stack InfluenceATM BrokerageMitchell’s Twitter thread about the Korean [email protected] & SterlingGet 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

Chris Munn, Bakari Akil, and Bruce Vann reflect on being Black men who bought businesses & why this path is so powerful. Topics in this interview:What inspires and motivates them as business ownersThe three necessary factors for capitalism to workUnclaimed opportunities for minority businessesThe impact of entrepreneurship on family and future generationsChanging your mentality to lead a company effectivelyBeing “buttoned up” vs. being authenticDealing with sellers who want to talk U.S. politicsOvercoming challenges and persisting in the face of adversityThe limitations of “climbing the ladder” in a W2Why now is the best time for Black people to buy businessesReferences and how to contact:Bakari Akil LinkedIn - Twitter - Graves Hall CapitalElliot Holland LinkedIn - Twitter - Guardian Due DiligenceBruce Vann LinkedIn - LuXout Products Inc - Blinds & MoreChris Munn LinkedIn - The Fairfield CompanyDame Dash Full Interview at The Breakfast Club Power 105.1Early Career LBOs Using the Search Fund ModelHBR Guide to Buying a Small BusinessWhy Should White Guys Have All the Fun? by Reginald F. Lewis and Blair S. WalkerLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition Lab 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 Huggins bought a small water & cable utility doing $200k/year. 15 years later, his holdco is on track for $20m/yr. Topics in this interview:Matt's decision to step off the academic trackMatt's career as a professional online poker playerTransitioning from poker to small businessAcquiring a utilities company for a group of condosThe surprising complexity of running a utilities companyStarting a manhole lining business The stability and diversity of the water industryAcquiring businesses from retiring owners without needing capitalThe value of a fractional CFOThe reward of helping employeesReferences and how to contact Matt:TwitterLinkedInPeak Group CompaniesAdvanced LiningPeak Water ServicesAdvanced Pump & EquipmentGordo SalesGet a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HRConnect 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

Holdco entrepreneur Chase Murdock buys very small businesses with potential for rapid growth & decades of staying power. Topics in Chase’s interview:Starting a custom suit company with $750Decata Group's “car wash integration process” for acquisitionsWorkshop SLC’s 5x growth in the first year of acquisitionGetting out of the “small business death zone” ASAPThe knife fight of acquiring and growing small businesses The #1 ingredient in company buildingMaslow’s hierarchy of business needsWhat surprised him about the trades industryConviction in the ability to 5x a business in 5 yearsThe intellectual challenge of building a holdcoLinks and how to contact Chase:TwitterLinkedInDecada GroupTailor CooperativeWorkshop SLCBuilt by Design ConstructionNorthern Electric CompanyTatton BairdLearn 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

Amir Haboosheh was drawn to the double-opportunity in acquiring home services businesses: the financial, and the impact. Topics in Amir’s interview:Why Amir wasn’t interested in a digital businessOffering blue collar employees shares in the companySnowball’s plan for going publicSnowball’s playbook for operating businessesHow to hire a good GM for your businessHow to incentivize operatorsAcquiring a marketing companyWhy SDE isn’t everythingHow Anderson Air doubled revenue in 3 yearsRetaining the brands post-acquisitionLinks and how to contact Amir:LinkedInTwitterSnowballAcquiraEnduring VenturesThe Snowball: Warren Buffett and the Business of Life by Alice SchroederAnderson AirDigitally SavvyTraction: Get a Grip on Your Business by Gino WickmanGet A Grip: How to Get Everything You Want from Your Entrepreneurial Business by Gino WickmanGet 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

Mark Sinatra returns to explain what to diligence from an HR perspective when buying your business. Topics in Mark’s interview:Top 3 things to diligence in your acquisition when it comes to HRHow industry associations can be a source of deal flow (once you're already acquired)"Book of business" acquisitionsBest type to execute add-on acquisitionsHow to prioritize what to integrate in an add-on acquisitionHow to recover from losing a big customerValue of personality profiling tools in hiringLinks and how to contact Mark:[email protected] with A-players who can run your business remotely:More StaffingLearn 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

Sam Rosati shares a framework to clarify your search criteria & reduce the months it takes to find a business to buy. Topics in Sam’s interview:The reason search takes so long How to speed up your search processUnderwriting criteria of SBA lendersKnowing how to kill a dealConsidering the fit of the searcher as CEOUnderstanding SBA loan frameworkImportance of recurring or repeating revenueOpportunities and risks in buying smallManaging criteria to get enough deals in the pipelineCommon mistakes searchers makeLinks and how to contact Sam:TwitterLinks to all Sam’s projectsPursuant CapitalNick HaschkaSam Rosati’s investor listRaise $800k to Buy an $8m Business | Kevin Bibelhausen InterviewGet 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

James Bloom has 8x'd a small mechanical contractor he bought only 4 years ago, despite it being a competitive industry. Topics in James’s interview:How his background in M&A informed his due diligence processHow he ensured a smooth transitionCommercial HVAC vs. residential HVACWhy he funded growth out of his own pocketReducing his weekly work hours from 100 to 60How his business differentiates itself in the construction industryGrowing his staff from 8 to 80Growing revenue from $3M to $25MWorking with unionsBringing in outside capital to growLinks and how to contact James:[email protected] Mechanical ContractorsBuy your ticket to the ETA conference devoted to self-funded search:The Self-Funded Search Conference (Sep 30 & Oct 1 in Dallas)Learn 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 days into Monte Marcum's acquisition of an established franchise, key equipment breaks. Then the crises kept coming. Topics in Monte’s interview:Buying 2 existing & adjacent franchise businesses at onceHow Filta’s customer pricing is structuredWhy commercial kitchens love his businessCombining two businessesEquipment starts breaking on day threeMonte’s series of fetal position momentsWhat exactly is hard about running a businessHow one rockstar employee guided him through a season of crisisThe biggest risk of buying smallThe importance of a support systemLinks and how to contact Monte:[email protected] Sanchez: These “Boring Businesses” Will Make You RichFilta Environmental Kitchen SolutionsJohn Schooler update episode on 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

Niklas James started off as a self-funded searcher, but evolved into being an independent sponsor of 7 acquisitions. Topics in Niklas’s interview:Why he returned the funds raised for his traditional search fundHow the painful challenges of his first acquisition set him up for success on later dealsWhy SaaS isn’t as sexy as it seemsEvolution from self-funded searcher to independent sponsorDefinition of an independent sponsorWhy HVAC is so attractiveGrowing his home services businessWhat type of person should consider independent sponsorshipThe difference between searchers and independent sponsorsThe difference between a holdco and independent sponsorshipLinks and how to contact Niklas:[email protected] Independent Sponsor ConferenceBuy your ticket to the ETA conference devoted to self-funded search:The Self-Funded Search Conference (Sep 30 & Oct 1 in Dallas)Learn 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

Martin Bispels updates us on the DTC ecommerce business he bought in 2020 and had grown to almost $2m/yr one year later. Topics in Martin’s interview:Using the Entrepreneurial Operating System (EOS)Building and managing a great remote teamWhy he doesn’t sell on AmazonThe difference between buying and shoppingOpportunities for bolt-on productsMarks of a good ecommerce businessThe power of story to differentiate your productMoving his supplier from China to VietnamFinding a good 3PLKeeping the founder in the businessLinks and how to contact Martin:[email protected] Park Disc GolfCarro appFrangiosa FarmsKeith Linebach: 8 Figure Exit, 2 Years After Buying the 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

Derek Turner has done both a traditional search fund and self-funded. We hear both stories & explore the differences. Topics in Derek’s interview:The advantages of a geographically-focused searchHis method for pitching business owners doing cold outreachChallenges within the laser van businessBeing a good soldier vs being a suckerThe downside of growthThe perils of buying from unpleasant ownersHow the company grew with no marketingHiring a GM to run the businessWhy have a board with a self-funded acquisitionWhy self-funded search feels different than traditional search fundsLinks and how to contact Derek:TwitterLinkedInRoll-a-ShieldDerek’s Twitter thread “When does a ‘good soldier’ become a ‘sucker’?”Derek’s thread on traditional search (being a CEO) vs. self-funded search (being an owner)With SIG, you can buy your own business and retain majority ownership:Search Investment GroupGet 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

2 previous guests, Mike Botkin & Adrian Pinto, are joining forces to grow a landscaping empire throughout the Southeast. Topics in Adrian and Mike’s interview:Adrian and Mike meeting through Acquiring MindsWhy it was difficult for Adrian to get a line of credit for his businessMike’s holding company acquired Adrian’s landscaping companyThe pros and cons of buying assets vs. stockHow an SBA loan can hamper growth in some situationsWhy Mike says acquisition is a talent gameHow they structured their acquisitionAdrian’s role as CEO post-acquisitionHow rolling equity can benefit the sellerMike’s holdco origin storyLinks and how to contact Adrian and Mike:Mike’s LinkedIn & TwitterAdrian’s LinkedIn & TwitterAdrian's recent episode: How to 2x Sales in a Service Business You BuyOneOutdoorGeorgia ScapesWith SIG, you can buy your own business and retain majority ownership:Search Investment GroupGet 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

With no finance background, Kevin Bibelhausen learned to raise money from investors & buy a 20-year-old fabric business. Topics in Kevin’s interview:His health crisis that led to a career changeLosing funding at the last minuteRaising $800k in 5 weeksAutomating his money-raise process with investorsThe value of being active on TwitterAcquiring a $8m business using very little of his own moneyThe ideal number of investorsWhat attracted Kevin to Heritage FabricsManaging working capital with a long sales cycleHis investment fund, Fruition CapitalLinks and how to contact Kevin:LinkedInTwitterFruition CapitalSam Rosati’s Investor ListNick Haschka’s episodes on Acquiring Minds:How One Small Acquisition Led to 9 More in 5 Years6 Ways Buying a Business Has Changed Since 2016HBR Guide to Buying a Small BusinessLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition Lab 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

Alex Michael was seeking to acquire not just a business, but freedom. One year later, he reports back on how it's going. Topics in Alex’s interview:Top line growth in the last yearHow he diligenced Wallaroo WalletsHow he uses Amazon PPC adsThe limitations of an Amazon FBA businessAn expensive lesson about traffic diversificationLaunching new productsHaving his family involved in his businessLiving life on his own termsHis unconventional thoughts on productivityThe topics he writes onLinks and how to contact Alex:LinkedInQuietLightAlex’s SubstackWallaroo WalletsLearn 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

How Austin Smoak raised money from investors to buy a very profitable roofing business that he found on BizBuySell. Topics in Austin's interview:How Goldman Sachs prepared him for business ownershipPassively owning franchisesWhy he recommends local brokers over proprietary searchFinding “business-buyer fit”His plan to scale via roll-upHis philosophy on change managementPros and cons of being funded by a family officeThe scope of his residential roofing businessThe roofing industry in FloridaHow he uses digital marketingLinks and how to contact Austin:LinkedInGrove Oaks CapitalAxialWhy Should White Guys Have All the Fun?: How Reginald Lewis Created a Billion-Dollar Business Empire by Reginald Lewis and Blair S. WalkerGet 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 channel Connect with host Will Smith on LinkedIn Follow Will on Twitter

Jérôme Bouillon bought a home care agency doing $500k/yr in 2018. Today it exceeds $1m and he's added a second location. Topics in Jerome’s interview:His cold calling strategyBuying a Visiting Angels franchiseSeeing his employees as his customersThe changes he made immediately to employee benefitsWhy he stopped penny-pinching in the businessWhy it’s important to know how to work in the businessMargins in home careHome care vs. home healthcareHow to scale up in this industryThe benefits of a franchiseLinks and how to contact Jérôme:LinkedInTwitterTraction by Gino WickmanVisiting AngelsGet 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

Heather Shattuck-Heidorn was a tenure-tracked professor, but wanted out. Buying a business offered freedom & security. Topics in Heather’s interview:What she loved about academiaWhy she initially resisted franchisesHow she found a custom closet franchiseBeing her husband’s employerHer thoughts on capitalismHow small business ownership differs from academiaWhat she likes about owning a franchiseHow she grows her business organicallyLearning to communicate with her employeesHer fetal position momentLinks and how to contact Heather:[email protected] Guide to Buying a Small Business by Richard S. RubackThe Power of Flexing by Susan AshfordBuy Then Build by Walker DeibelHome Franchise ConceptsLearn 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

Having only ever managed a few people when he bought his business, Alex Glasner shares how the trial by fire is going. Topics in Alex's interview:The difference between searching and operatingThe challenge of improving processesHow rapid growth affected the companyRunning the business with a partnerHow the economy impacts his industryHaving the British government as his sole customerIdealism and disillusionment in helping professionsWhy he hasn’t acquired a second businessWhy the first 2 years are hardHow he has improved as a managerLinks and how to contact Alex:[email protected]’s first appearance on Acquiring MindsConnect with A-players who can run your business remotely:More StaffingGet 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 Bortner couch-surfed, drove Uber, and racked up credit card debt while finding a pool business to buy. It went well. Topics in Ben’s interview:Buying a pool service business, putting in only $100 of his own money for equityChanges he made to employee compensation (and why)Acquiring a second pool businessWhy Ben became certified to do pool maintenance himselfHow Ben improved company cultureWhy he didn’t want to hire a GMSelling his company to Pool TroopersLaunching a fund for self-funded searchersThe type of searcher he wants to fundWhat a self-funded deal looks likeLinks and how to contact Ben:[email protected] Water CapitalGet 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

9 months after Jesse Safir bought a printing biz, Covid cratered it. 3 years later, sales are nearing pre-Covid levels. Topics in Jesse’s interview:Finding ABG Printing by sending direct mailThe value of having a “forgettable” businessRenegotiating his deal before acquisitionThe changes he made in the first 9 monthsCutting 80% of his staff during COVIDManaging cash flow after revenue plunged 95%Staffing post-COVIDHow their printing projects have diversifiedThe landscape of the printing industryJesse’s vision for a holdcoLinks and how to contact Jesse:[email protected] Dip by Seth GodinJesse on Let’s Buy a BusinessGet 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 HRConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

2 searchers, Kaustubh Deo & Kevin Bibelhausen, share how they found investors to provide money to buy their businesses. Topics in Kevin and Kaustubh’s interview:How Twitter helps searchers learn and networkHow Kevin found investors after his funding fell throughHow they selected investorsWhat a good pitch meeting looks likeHow they communicate with investors post-acquisitionThe power of superconnectors when raising fundsThe size of their cap tablesHow they organized their contacts while pitching investorsHow to get the most equity in your businessThe most gratifying and stressful parts of running their businessesLinks and how to contact Kevin and Kaustubh:Kaustubh’s LinkedInKevin’s LinkedInKevin’s TwitterInvestor ListHBR Guide to Buying a Small BusinessSam RosatiTony CappaertLisa ForrestMike BotkinLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition Lab 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

It CAN be done: Matthew Saskin recently acquired a big towing business, hiring an operator to run it from day 1. Topics in Matthew Saskin’s interview:Why he chose a towing companyPutting in an operator from day oneImprovements he made right awayWhy he kept his day job (and how he manages it)His COO’s compensation packageWhat is phantom equity (and how it’s different from true equity)How real estate investment is different from SMB ownershipThe landscape of the towing industryRevenue streams for towing companiesHow they recruit driversLinks and how to contact Matthew:Matt's business plan. We decided not to link to it directly. Email Matt to request a copy, and he'll share it with you directly 👇👇[email protected] Coast TowingLearn 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 channel Connect with host Will Smith on LinkedIn Follow Will on Twitter

Caroline Chapdelaine seized opportunity when a biomed company needed to sell a $2m unit that made special defense tech. Topics in Caroline’s interview:About the defense contracting industryBuying a business in the defense industry (and why it’s hard)Buying a carve-out businessThe unusual terms of a carve-out dealUnforeseen costs after purchasing a carve-outThe benefits of having partnersAssessing the strategic value of your business to its customersRunning out of money months after purchaseGetting an SBA loan against her business assetsRemotely running a California business from UtahLinks and how to contact Caroline:[email protected] PhotonicsConnect 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 channel Connect with host Will Smith on LinkedIn Follow Will on Twitter

Despite dire warnings against it, Reg Zeller bought a foundry. He's since bought 6 more & sees a clear path to $100m/yr. Topics in Reg Zeller’s interview:Why he bought a foundry (against everyone’s advice)The famous fetal position storyThe importance of a peer groupHis journey from one acquisition to a holdcoWhy searchers should spend 2 years operating the business they buyReg’s plan to get to $100 millionHow to eliminate key man riskHow Reg found his rockstar COOOpportunities in non-manufacturing spacesThe opportunities in onshoringLinks and how to contact Reg:Twitter CaneKastThe Twitter thread Reg mentionedShoe Dog by Phil KnightHoldCo ConferenceLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition Lab Get 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 channel Connect with host Will Smith on LinkedIn Follow Will on Twitter

Adrian Pinto returns to reflect on his 1.5 years as owner of a landscaping business that he's grown from $3m to $6m/yr. Topics in Adrian’s interview:Buying and growing Georgia ScapesGrowth through acquisition in landscaping Doubling revenue in 18 monthsHis B2B sales processCompetition in landscapingCommercial vs residential landscapingMaintenance work vs project workDue diligence for a landscaping companyBeyond EBITDA: evaluating size of business to buyRisks in acquiring a landscaping businessLinks and how to contact Adrian:[email protected] Georgia ScapesAdrian’s first appearance on Acquiring MindsMike Bodkin on Acquiring MindsLogan and Bradley on Acquiring MindsLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition Lab 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

Michael Horowitz was looking to buy an independent business when a different path opened up. Today he owns 20 Wingstops. Topics in Michael’s interview:Pros and cons of searching within franchisesWhy Michael was attracted to QSR’s (quick service restaurants)Buying 7 Wingstop locations in OhioWriting an operating agreement for 3 co-ownersDevelopment agreements with franchisesOperating QSR’s during CovidOpening and closing a ghost kitchenDaily operations of owning 20 Wingstop locationsMotivating hourly restaurant employees Michael’s advice for searchers considering QSR’sLinks and how to contact Michael:LinkedInTwitterMichael Horowitz on Franchise EmpiresConnect with A-players who can run your business remotely:More StaffingGet 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

Kaustubh Deo reflects on his first year as the owner of a tree business versus his former life in NYC private equity. Topics in Kaustubh’s interview:Buying a tree service businessBuyer’s vs seller’s discretionary earningsReflecting on 13 months as a business ownerPossibility for roll-upsBeing an outsider in the tree industryChange managementHis thoughts on holdcosMeasuring success for his businessLife as a business owner vs. life in private equityHis advice for searchersLinks and how to contact Kaustubh:[email protected] Kaustubh on Think Like an OwnerBlooma Tree ExpertsGet 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 channel Connect with host Will Smith on LinkedIn Follow Will on Twitter

Adam Duggins had 650 meetings to find his first business in 2013, not expecting he'd buy 3 more over the next 10 years. Topics in Adam Duggins’s interview:Meeting with 650 people (in person!) during his searchHow Adam found his partner & structured their ownershipHow Adam became a holdco without meaning toHow motivating blue collar workers versus white collar careerists is differentWhy Adam prefers working with blue collar versus white collarBuying businesses in overlooked geographiesA bit about each of Adam's 4 businesses: steel fabrication, commercial HVAC, Jet-Hot, boiler servicesWhat to love about businesses in the construction industryStability vs. growthEarly mistakes as an ownerLinks and how to contact Adam:New Page Capital W.C. Rouse Engineered Steel American Industrial ContractorsJet-HotAdam’s email: [email protected] a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit Aspen HRConnect 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

Bruce Vann returns to update us on his manufacturing business, and a thesis around the roll-up of window blinds stores. Topics in Bruce Vann’s interview:Buying a stage curtain/shades businessProfitability of the businessTheir curtain and shades productsAcquiring a blinds companyIntegrating his businessesBruce’s vision for expansionThe possibilities for search in window treatmentsThe feast or famine nature of the businessThe long sales cycleInvesting in a ribbon weight machineBruce’s advice to searchersLinks and how to contact Bruce:[email protected] LuXout Stage CurtainsConnect with A-players who can run your business remotely:More StaffingGet a complementary pre-acquisition HR & PEO review for your target business:Contact [email protected] or visit AspenHRConnect with Acquiring Minds: See past + future interviews on the YouTube channel Connect with host Will Smith on LinkedIn Follow Will on Twitter

John Ikalowych shares his traumatic journey of going all-in to buy a hail-repair business, then having to shut it down. Topics in John Ikalowych’s interview:John’s background in commercial bankingBuying a car hail repair businessLosing half his staff just months after acquisitionThe disaster that tanked their financesPivoting from B2C to B2BShutting down the businessHow the business failure changed himClosing a business with a personal guaranteeJohn’s advice to searchersThe importance of peer supportLinks and how to contact John:LinkedIn303-704-2461Entrepreneurs’ OrganizationLearn 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 channel Connect with host Will Smith on LinkedIn Follow Will on Twitter

Morli Desai left corporate to scratch her entrepreneurial itch, using an SBA loan to buy an ecommerce biz with $1m SDE. Topics in Morli Desai’s interview:Leaving her corporate job at 40Joining the Acquisition LabPurchasing an ecommerce businessHow to approach brokersTransitioning an ecommerce businessPurchasing an Australian entityMarketing with PPCAssessing risk in ecommerceProprietary vs brokered searchInventory management in ecommerceLinks and how to contact Morli:LinkedIn4,000 weeks by Oliver BurkemanSam Harris’s appQuiet LightMarket Watch by CenturicaJoe Mcaleer of Multifunding, LLCJoel AnkneyAmaira Natural SkincareOverhaul your website with ongoing support & unlimited edits, all for a flat monthly fee:EversiteConnect 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

Pawel Kosicki learned about buying small businesses in July. By January, he'd bought one himself with 7 figures of SDE. Topics in Pawel Kosicki’s interview:Pawel’s background in engineeringValuation of a home theater/automation companyClosing on his very first LOIFinancing a deal in CanadaHis philosophy on risk in businessThe seller staying on as an employeeMitigating risk in a project-based businessHis plans to grow the businessProjected growth in the home automation industryAdvice for Canadian searchersReferences and how to contact Pawel:[email protected] Kozinski Twitter threadOakville Sight and SoundGet 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 channel Connect with host Will Smith on LinkedIn Follow Will on Twitter

Damon Chlarson takes a job in tech sales, despite having improved the business he bought & surviving a tough year. Topics in Damon’s interview:Damon bought Pacific Insulation Supply, an online wholesalerDifficulties in scaling the insulation business. Overview of sales in the first year Getting a regular W-2 job again New systems he put in place at the business Training his sales teamThe challenges of working from homeHow he runs a business with bipolar disorderFluctuation in demand for home renovations Managing a sales team in the PhilippinesDamon's original appears on Acquiring Minds:Nailing the Trifecta: B2B + Remote + Scalable - Acquiring MindsLinks and how to contact Damon:Pacific Insulation SupplyTwitterLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition Lab 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

Brenden Van Buren is growing his fencing business, despite the industry's notorious cyclicality & project-based revenue. Topics in Brenden’s interview:Brenden’s family history in the construction businessCo-founding Generational Transfer Entrepreneurs The pros and cons of having a pipeline when starting searchWhy the perfect relationship is better than the perfect businessThe risks associated with construction companiesAcquiring Pro Max Fence SystemsHow he doubled sales in 4.5 yearsThe top mistakes searchers make regarding time management and communicationsThe advantages of proprietary searchSelf-funded vs. traditional searchReferences and how to contact Brenden:Pacific LakeBringing Down the HouseGenerational Transfer EntrepreneursPro Max Fence SystemsLinkedInOverhaul your website with ongoing support & unlimited edits, all for a flat monthly fee:EversiteConnect 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

Justin Turner returns with details on 2 new acquisitions by his holdco Traction, plus updates on the existing 4 portcos. Topics in Justin’s interview:Justin helps run investment firm Traction Capital PartnersHow Traction is different from Private EquityThe risks of buying into a franchise networkHow he bought one of his vendorsLessons learned from buying 6 businessesDriving sales in a disaster restoration business Doubling revenue in 5 years for a Fire Department supply business Facing the post-Covid economic downturnRising competition for acquiring a businessTrends in the blue and white collar labor marketJustin's original appears on Acquiring Minds:How to Build a Holdco (4 Acquisitions So Far)Links and How to Contact Justin:LinkedIn TwitterTraction CPGet 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 channel Connect with host Will Smith on LinkedIn Follow Will on Twitter

Michael Arrieta's holdco has made 3 acquisitions since 2020. Sales & culture, not tech, have proven to be the key levers. Topics in Michael’s interview: How he built the holding company Garden CityWhy he is drawn to service businessesHis experience with fast-growth startups in Silicon ValleyHow he almost doubled EBITDA in less than a yearThe mistakes he made with his first acquisitionThe 3 ways he finds companies to buyHow he improves workplace culture in the service industryHow Garden City adds value to their companiesHow to carefully add new technology after acquisitionWhy he is recruiting searchers to run businessesReferences and how to contact Michael:Michael Arrieta's TwitterMichael Arrieta's LinkedInExcellence Wins by Horst SchulzeBrent Beshore's TwitterGarden CityConnect with A-players who can run your business remotely:More StaffingOverhaul your website with ongoing support & unlimited edits, all for a flat monthly fee:EversiteConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

After a rollercoaster year in his appliance repair business, John Schooler returns with scars, wisdom, and optimism. Topics in John’s interview:John bought an appliance repair business 14 months agoHow he runs a repair business without having repair skillsThe disaster that took away 20% of revenue overnightWhy running a business is harder than a marathonThe pros and cons of working with home warranty companiesWhat he would do differently from day oneWhat he learned about retaining employeesHis role in day-to-day operationsHis system for training techniciansJohn's original appearance on Acquiring Minds:Buying a Business & Having a BlastLinks and how to contact John:TwitterLinkedInAppliance ProfessionalTwitter thread mentionedReg ZellerOverhaul your website with ongoing support & unlimited edits, all for a flat monthly fee:EversiteGet 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 channel Connect with host Will Smith on LinkedIn Follow Will on Twitter

Andrew Hitchings bought a $250k SDE cooling biz. It has grown 3x and will now fund a 2nd acquisition, with more to come. Topics in Andrew’s Interview:Andrew and his wife bought a home ventilation business in April 2020How 7 months on a motorcycle prepared them for running a business togetherHis history in the Army, business school, and McKinsey & CompanyHow his business partner Max improved employee trainingWhy he looks at the P&L every dayExpanding their seasonal business to a year-round businessHow they mitigated the risk of buying a business with a single employeeThree things a business owner should focus onWhy they hire for character, not experienceHis strategy for building a holdcoReferences and how to contact Andrew:LinkedInHis partner: Marcela FernandezHis other partner: Max WilliamsColorado Home ServicesHBR Guide to Buying a Small BusinessGreg AmbrosiaChenmarkConnect with A-players who can run your business remotely:More StaffingLearn 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

Andrew Sieve saw his life implode after COVID. Buying a highly profitable 40-year-old restaurant turned things around. Topics in Andrew’s interview: Andrew’s family history of owning and operating restaurantsWhy he prefers smaller restaurantsThe tragedies of 2020 that led to him exiting his family’s businessMoving from Minneapolis to Colorado to start overHow a chance meeting led to him buying a restaurantHow they achieved a smooth transition What factors make restaurants difficult businessesThe risks in acquiring an institutional legacy restaurantHow he funded his acquisition through a community bankHis vision for the next 5 yearsLinks and how to contact Andrew:LinkedInBigger Pockets Real EstateBigger Pockets MoneyConnect with A-players who can run your business remotely:More StaffingGet 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 channel Connect with host Will Smith on LinkedIn Follow Will on Twitter

Paul Quirk acquired a $800k EBITDA window & door business in the UK, continuing to live with his family in Switzerland. Topics in Paul's interview:Paul’s experience with JP Morgan in Geneva3 biggest differences between acquisition in the UK vs the USThe variety of ways Paul reached out to businesses during searchHis decision to start the Buy and Build podcastHow he decided to buy a window/door installation businessThe changes he made to the company’s processesWhy he redesigned the company’s finance teamPros and cons of a “first day speech”His weekly commute between Geneva and Norwich, UKThe future of his own podcastReferences and how to reach Paul:Paul Quirk's LinkedInAmber Home ImprovementsBuy and Build podcast - Brad Nathan episode - Gerald Ratner episode - Simon Webster episodeOwned and Operated podcastThink Like an Owner podcastThe SMB OPS Show podcastRegister for a live gathering of SMB, Micro-PE, and ETA owners, operators and investors:SMBashLearn 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

Shortly after his first interview in June, Jason Andrews sold his business to a strategic buyer for a life-changing sum. Topics in Jason's interview:Jason's recent exit of the group purchasing organization (GPO) he acquired in 2016How he had grown the business 50-60% without increasing staffThe downside of buying a super-niche businessThe advantages of acquiring a bigger businessHow his sales background influenced the way he restructured the companyWhy he says “don’t pay down your debt too fast”How he finds support in a local business leader groupThe fun part of running his businessWhy you may need to reconsider your growth modelWhat’s on his post-exit bucket listJason's original appearance on Acquiring Minds:Buying a High 7 Figure Business with a Buy-Side AdvisorReferences and how to reach Jason:Jason's TwitterJason's LinkedInBuilt to Sell by John WarrillowOverhaul your website with ongoing support & unlimited edits, all for a flat monthly fee:EversiteGet 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

Chirag Shah applied systems from his days as a product manager to find & acquire a dog-training business with $600k SDE. Topics from Chirag's interview:Chirag’s background as a small business underwriterHis experience in the Acquisition LabHow a virtual assistanct and a Notion database helped narrow his searchHis decision to buy a Sit Means Sit franchiseWhy 2021 was a banner year for dog trainingHow franchises compare in terms of flexibilityHow much he pays in monthly franchise feesThe dog training method Sit Means Sit usesWhy Austin, Texas, is a prime location for dog trainingHow Profit First influences his practicesReferences and how to contact Chirag:Sit Means SitProfit FirstTwitterLinkedInRegister for a live gathering of SMB, Micro-PE, and ETA owners, operators and investors:SMBashLearn 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

Brian Beers, owner of 30 Midas locations, teaches how to acquire an empire with seller financing for retiring owners. Topics from Brian's interview:How Brian’s family got him into owning Midas franchisesWhat makes the auto repair industry uniqueWhat kind of person would enjoy running a franchiseQuestions to ask before buying a franchiseHow seller financing is different with franchiseesService franchises vs retail franchisesHow to approach buying a franchiseHow a franchise broker can help youWhat makes a good operatorWhy buying small isn’t always badReferences & how to contact Brian:Brian Beers TwitterBrian Beers LinkedInBusiness with Beers PodcastGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamRegister for a live gathering of SMB, Micro-PE, and ETA owners, operators and investors:SMBashConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Tyler O'Connor bought a 20-year-old golf school he found on BizBuySell doing mid-7 figures with 35% margins. Topics in Tyler's interview:Why Tyler decided to buy a businessHow he got his wife on board with buying a businessThe two books he recommends to every searcherWhy he decided against buying a “boring” businessThe one worry that kept him up at nightWhy he had to decline an investor at the last minuteWhy he bought his first LOI: Bird Golf AcademyHis advice about who to invest withWhy he prefers older employees in his businessThe perks of owning a golf businessLinks & how to contact Tyler:Bird Golf AcademyBruce MarksHBR Guide to Buying a Small BusinessPursuant Capital [email protected] more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabOverhaul your website with ongoing support & unlimited edits, all for a flat monthly fee:EversiteConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Patrick Dichter returns to update us on a productive first year as CEO of a bookkeeping business he bought in late 2021. Topics in Patrick's interview:How Patrick acquired a bookkeeping business without an accounting backgroundThree factors that led to 60% revenue increase in year oneWhy there’s a shortage of accountants and how that affects his businessWhat makes tax prep difficult to offshore Which kind of firms to “stay the f*** away” from Why rollups don’t work in accountingHow he turns tax prep clients into year-round clientsAcquisition vs organic growthThe one thing he wishes he’d done differentlyWhy he advocates buying smallLinks & how to reach Patrick:First episode with Patrick: ‍Shut Out by Industry Brokers, an Entrepreneur Finds a WayFirst episode with Chris Williams: ‍Stay Open to the Many Flavors of SearchSecond episode with Chris Williams: ‍1 Year Later as Buyer of a $1m EBITDA BusinessAppletree Business ServicesPatrick's TwitterPatrick's LinkedInGet 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