Acquiring Minds
244 episodes - English - Latest episode: 10 days ago - ★★★★★ - 131 ratingsBuying a business is an amazing path for many successful entrepreneurs. Learn how to buy a business from the entrepreneurs who have already done it. 2x per week: stories, insights, & valuable advice about acquisition entrepreneurship. Hosted by Will Smith, who is on his own path to acquire a business.
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Episodes
The Gritty, High-Capex Road to Millions
April 18, 2024 07:00 - 1 hour - 191 MBReid 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 it Writing a book about acquisition People are the worst and best part of business Power of feedback and relationships for business owners The company’s slow temp-to-hire process Getting his CDL to be hands-on Moving paper processes to the cloud Pros and cons of an Employee Stock Ownership Pr...
Watching Warren: How to Build a Mini-Berkshire
April 15, 2024 07:00 - 1 hour - 217 MBGet $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th: https://www.malaunchpad.com & enter code ACQUIRINGMINDS Rafael 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 Panama Buying his first business Panama from a billboard ad How to buy a business with an operator How he decided to build a holdco Self-identity a...
Getting Unstuck by Buying a Business
April 11, 2024 07:00 - 1 hour - 206 MBThe 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 crisis Qualities of a top salesperson Business acquisition as a way out of a miserable career Shopping around for an SBA loan Choosing to play to his strengths and outsource his weaknesses Difficulty in hiring for construction Bouncing back and growing after Covid losses Red flags he...
Buy & Build a Trash Business to a $4.4m Exit
April 08, 2024 07:00 - 1 hour - 211 MBGet $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th: https://www.malaunchpad.com & enter code ACQUIRINGMINDS Patrick 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 one Intricacies of trash disposal pricing Niches within trash services Competition and cooperation in trash services The first question ...
Roofing + Florida = Path to $100m
April 04, 2024 07:00 - 1 hour - 167 MBOnly 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 Acquira Keeping the seller as an employee Why he likes roofing despite drawbacks How he satisfied his licensing requirement Moats around spray foam roofing Standing out in the roofing industry His vision for organic growth How insurance companies drive demand for new roofs Using ROBS for financing Why he w...
Rather Than Retire, Buy a Business
April 01, 2024 07:00 - 1 hour - 148 MBGet $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th: https://www.malaunchpad.com & enter code ACQUIRINGMINDS At 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 60 Learning the right amount of diligence to do before submitting an LOI Importance of a target statement for searchers His values-first approach to business Importa...
$700k EBITDA with No SBA, No Money Down
March 28, 2024 07:00 - 1 hour - 178 MBHow 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 IPO Competition in the wood furniture space Financing without the SBA Advice for Canadian searchers Getting a 35% seller note His 100% financed deal His plan to increase direct-to-consumer sales Being the sole breadwinner for a family of 6 Deciding not to buy with a partner How his company ships faste...
The Birth of a Roll-Up
March 25, 2024 07:00 - 1 hour - 154 MBRegister here for the webinar, Working Capital 101 https://bit.ly/3IGEZWQ Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th: https://www.malaunchpad.com & enter code ACQUIRINGMINDS Stephen 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 industry Their roll-up strategy Moats in the form of risk and licen...
How to Identify & Buy a Great Residential Contractor
March 21, 2024 07:00 - 1 hour - 146 MBRegister here for the webinar, Working Capital 101 https://bit.ly/3veZaYP Alan 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 acquiring Understanding the ROBS financing strategy Reiterating company values weekly His day-to-day role as owner Restructuring to do more with fewer people Embracing digital marketing and CRM tools Why he’s so comfortable with p...
Reward for a Brutal Transition: $760k EBITDA on 3 Hours/Week
March 18, 2024 07:00 - 1 hour - 205 MBRegister here for the webinar, Working Capital 101 https://bit.ly/3IFObuB Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th: https://www.malaunchpad.com & enter code ACQUIRINGMINDS Despite 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 investing What margins indicate about a business Return on assets as a quality metric Acquiring a pave...
Buying Small, Growing Big: From $1m to $26m
March 14, 2024 07:00 - 2 hours - 231 MBJohn 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 business Taking over the business at 23 Acquiring a turnaround to grow his business His first time doing layoffs Using CertainPath’s model to grow Tripling his ad spend during Covid Why he believes in buying small His take on installing an operator His plan to get to $100M The taxonomy ...
Unlocking Growth in a Business, Average Age 55
March 11, 2024 07:00 - 1 hour - 205 MBGet $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th: https://www.malaunchpad.com & enter code ACQUIRINGMINDS Danny 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 military Educating their investors about oil and gas Dramatically increasing their cold outreach response rate Buying a business with $1M+ in revenue pe...
Bought Tiny, Grew to $4m
March 07, 2024 08:00 - 1 hour - 182 MBSBA 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 business Quadrupling revenue in 2 years Getting listed on Wayfair Tradeoffs of selling on Amazon High importance of inventory management Explosive growth during Covid How he estimated market size Difficulty of competing in ecommerce Forecasting trends a year in advance Grief and joy of managin...
When You Buy a Glorified Job, Not a Business
March 04, 2024 08:00 - 1 hour - 192 MBGet $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th: https://www.malaunchpad.com & enter code ACQUIRINGMINDS Tato 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 mail Her “Say yes and figure it out later” approach Difficulty in hiring unskilled labor How she solved her labor issue Being a single woman in a male indu...
The Front Lines of a Crisis
February 29, 2024 08:00 - 1 hour - 178 MB14 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 tray His life-changing exit from his company Looking for stability and safety through acquisition Fear of buying a company that was too big to operate Expenses skyrocketing after transition Impact of asset purchase on rent and insurance costs Layoffs and belt tightening Renegotiating his SBA loan ...
How a First-Timer Did a Turnaround (Including an Exit)
February 26, 2024 08:00 - 1 hour - 177 MBBen 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 Pittsburgh Sourcing deals through lawyers and accountants vs brokers Acquiring an elevator repair business in distress Quickly making changes after transition Pouring his own money into the company to stay operational Surviving the challenges of Covid Doubling the business and selling to private equity ...
Saying No to Home Services, Yes to B2B Media
February 22, 2024 08:00 - 1 hour - 146 MBNathan 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 brand Managing brand partnerships for pop stars Educating himself on business acquisition Pivoting away from home services Buying a media company with a partner Why print media isn’t dead His audience-first approach Commitment vs passion for the industry Serving a hybrid workforce The bu...
8 Figs or Bust: Transitioning a Big Plumbing Business
February 19, 2024 08:00 - 1 hour - 204 MBRegister here for the webinar, How to Raise Equity to Buy a Business https://bit.ly/3SUJhzQ Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th: https://www.malaunchpad.com & enter code ACQUIRINGMINDS Peter 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-up Acquiring Joe Cole Plumbing His disappointing first day as...
Fire, Covid, Exit: 5 Years in a $12m Events Business
February 15, 2024 08:00 - 1 hour - 194 MBRegister here for the webinar, How to Raise Equity to Buy a Business https://bit.ly/3uwHx6y Will 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 fund Feeling like a “wartime president” His brutal first year as owner Value of a strong company culture Scrambling to fulfill contracts after a large warehouse fire Layoff and salary cuts during Covid Buildi...
Taking a Blue Collar Biz from $900k to $2.4m in Earnings
February 12, 2024 08:00 - 1 hour - 173 MBRegister here for the webinar, How to Raise Equity to Buy a Business https://bit.ly/3SAWZXd Adam 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 sponsor Pros & cons of having the federal government as a customer Doubling his work force in a “tough labor market” Why overhead doesn't need to scale with labor force Doing nothing for the first...
First-Timer Turns $20k into $900k in 19 Months
February 08, 2024 08:00 - 1 hour - 171 MBOnly 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 box Getting past major key person risk Nick's fear of lacking operational experience Acquiring without an SBA loan or investors Learning to lead and handle conflict Operational intensity of a wedding catering business Cash flow advantages due to up-front deposits Improvements he made to t...
The Model Works: Reflections of a Plumbing Business Buyer
February 05, 2024 08:00 - 1 hour - 173 MBDoug 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 business Working 60 hours a week His experience with ROBS structure and buyout Slowdown in home services industry Why he loves owning & operating When & why to raise your prices Moving to a small town in a metro area Integration of business into daily life Fierce competition in home services Great...
Buying a $4m Business (with 80% Recurring Revenue)
February 01, 2024 08:00 - 1 hour - 161 MBRegister here for the webinar, The Anatomy of an LOI: https://bit.ly/4263xl0 It 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 him Being rejected by a search accelerator Starting an accounting firm while searching 18 months of dead deals before acquisition Role of luck in business success Role of his wife How accounting practices are valued and priced Red fla...
Taking the Plunge into Extreme Ownership
January 29, 2024 08:00 - 1 hour - 191 MBRegister here for the webinar, The Anatomy of an LOI: https://bit.ly/3U52srP At 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 office Investing 2 months in a deal that died Trade-off between equity and salary in traditional search Geographical search in South Florida Challenges with healthcare regulations Why Robert Graham didn’t like the de...
Finding a Good Business After 2+ Years of Searching
January 25, 2024 08:00 - 1 hour - 167 MBRegister here for the webinar, The Anatomy of an LOI: https://bit.ly/3SsxKrt Ryan 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 deal Value of a thorough quality of earnings investigation Why “stupid good margins” are a bad sign Buying a residential pool business in the Golden Isles of Georgia Being ghosted by his bookkeeper after transition His in...
Buying a Business to 20x a Real Estate Empire
January 22, 2024 08:00 - 1 hour - 208 MBRegister here for the webinar, The Anatomy of an LOI: https://bit.ly/492E8eh Buying 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 businesses Modernizing and professionalizing a property management business Growing from 12 to 25 employees The pain of owning a business with no pricing power Setting boundaries with clients around service offer...
4 Acquisitions In, Holdco Builder's Goal is £150m
January 18, 2024 08:00 - 1 hour - 140 MBHoldco 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 timelines Getting through fetal position moments Balancing diversification and integration Gurus in the business buying space Lessons from his first acquisition Change management in blue collar businesses Increasing holdco revenue target from £60m to £150m Extending his 5-year plan to 10 year...
14 Months from Searcher to $5.5m EBITDA
January 16, 2024 08:00 - 1 hour - 192 MBLuis 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 Florida Working with SIG (Search Investment Group) to raise capital Pitching investors and overcoming rejection Negotiating a dead deal back to life Acquiring a linen rental business Second order effects of raising employee wages Learning all the jobs in the business Mental weight of being the chief decisio...
Shutting Down After a 4-Year Struggle
January 11, 2024 08:00 - 1 hour - 203 MBWatch the recording of our webinar on Financial Modeling a Self-Funded SBA Acquisition: https://acquiringminds.co/webinars/how-to-model-a-self-funded-sba-acquisition The 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 twins Buying a cemetery management business The downside of flat monthly billing Increasing expenses straining his bottom line Covid ...
Buying a Big $7m Trade School
January 08, 2024 08:00 - 1 hour - 177 MBWatch the recording of our webinar on Financial Modeling a Self-Funded SBA Acquisition: https://acquiringminds.co/webinars/how-to-model-a-self-funded-sba-acquisition In 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 search Why they chose a traditional search fund Interviewing prospective investors Potential in blue collar businesses The future...
Moving to a Small Town to Buy an SMB
January 04, 2024 08:00 - 1 hour - 184 MBWhen 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 Appalachia His vision to build a holding company Buying an HVAC business in a small town Transferring skills he learned in the Marines Hiring veterans for their leadership capabilities Learning about HVAC through ride-alongs Changes he made after transition Revenue growth and increasing headcount Cy...
The Appeal of Buying a Food Product Business
January 02, 2024 08:00 - 1 hour - 185 MBPat 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” search Starting a shear-sharpening business while searching Growth, churn, & margins in his shear-sharpening business Why he wanted to buy a breading and batter mix company so badly Similarities between food businesses & dropshipping businesses The role of co-packers in the food industry Challenges & risks ...
Building an HVAC Holdco to £60m in Revenue
December 28, 2023 08:00 - 1 hour - 163 MBSam 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 whom Buying without the benefit of an SBA loan Why HVAC? Why buying small business is more appealing than real estate Harbour Club with Jeremy Harbour The value in acquiring businesses in a highly-fragmented industry Deal structure for his first acquisition S...
Opening Up to Franchises to Buy a Great Business
December 26, 2023 08:00 - 1 hour - 157 MBHow 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 business Opening your mind to a franchise The many (overlooked) benefits to being a franchisee Calling yourself "independent investor" instead of "searcher" Running a search like a B2B sales process The appeal of a deal with few addbacks Why home service businesses a...
Building a $350m Holdco of Farms
December 21, 2023 08:00 - 1 hour - 190 MBJack 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 businesses Gold Leaf’s unique business model Appeal of farmland as a safe and attractive asset How farms are valued How specialty crops compare to row crops What makes a farm high quality Using technology to farm efficiently Incentivizing farm managers Converting conventional farms to organic ...
Factory Life: Buying a Manufacturer with $1m SDE
December 18, 2023 08:00 - 1 hour - 168 MBBen 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 Street Leaving finance to prioritize family Buying a plastic bag manufacturer Starting his work day at 3:30 AM His intense 2-month initiation Creating a manual and financial model to manage the business Challenges of maintaining old machinery Understanding his employees' personal valu...
Scaling Sweaty Services with a Brokerage Model
December 14, 2023 08:00 - 1 hour - 156 MBEddy 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 approach Earth Development’s unusual business model Negotiating with an anxious seller Acquiring during Covid How being close to a target business changes rapport building Buying a highly seasonal business Operating across multiple states Convincing a key employee to stay Risk of customer...
2.5 Years from Buying to Exiting
December 11, 2023 08:00 - 1 hour - 192 MBBrian 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 roles Buying property management companies Improving their net promoter score (NPS) Building a culture of completion rate measurement Relocating positions and outsourcing Importance of trust in property management Successfully transitioning to a remote-fi...
Hard but Fun: Transitioning a 77-Year-Old Business
December 07, 2023 08:00 - 1 hour - 158 MBDarryl 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 Navy How getting an MBA might slow you down Searching in a small geographic radius Buying a signage company Valuing a business with a lot of cash transactions Getting comfortable with project-based revenue Mistakes in due diligence Improving the culture in 100 days Hiring a supplier to be his GM Raisin...
The Power of Conviction in Buying a Business
December 04, 2023 08:00 - 1 hour - 155 MBMatt 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 search Pros and cons of door-to-door proprietary outreach to sellers Importance of having his wife on board Getting emotionally invested in deals His values-based reason for acquiring a business The business sustaining fire damage before purchase Buying a commercial laundry business Niches within the la...
3 Perspectives: A Panel on Buying Small Businesses
November 30, 2023 08:00 - 1 hour - 228 MBRecording of a live panel hosted by EO Silicon Valley with Acquiring Minds host Will Smith moderating. Topics discussed: 3 stories of buying businesses What the search, due diligence, transition was like for each of the 3 entrepreneurs Silicon Valley-style entrepreneurship vs. entrepreneurship through acquisition (ETA) The napkin math of a business acquisition with an SBA loan Moving from white collar to blue collar environments Is there a "type" who buys a business? Gradua...
Escaping Golden Handcuffs by Buying a Business
November 27, 2023 08:00 - 1 hour - 176 MBWhile 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 job Using her marketing skills for proprietary search Acquiring an accounting firm without accounting experience Building rapport and trust with the team Changing the business’s name Being comfortable managing a remote team Balancing business ownership and family Her plan to recru...
7 Takeaways from 200 Episodes
November 22, 2023 08:00 - 25 minutes - 46.4 MBAcquiring Minds host Will Smith reflects on 200 episodes, tells the podcast backstory, and teases what's coming in 2024. Topics in today’s episode with Will: Essential lessons from 200 interviews with acquisition entrepreneurs How Acquiring Minds got started Is Will going to search for a business to buy? Plans for Acquiring Minds in 2024 References and how to contact Will: Episode 183 with Brandon Adams: Hiring a General Manager & Buying Business #2 Connect with Will on Lin...
Cash Flows Over Exits: Buying for the Long Term
November 20, 2023 08:00 - 1 hour - 171 MBSensing untapped potential, Mark Olivito paid cash for a project-based construction business with less than $100k SDE. Topics in Mark’s interview: Buying a business that checked all the wrong boxes Why he “overpaid” to acquire PAVERART What attracted him to the business His passion for building a successful blue-collar business Glamorization of entrepreneurship The importance of showing up and “eating last” The trades as a lucrative alternative to college Mental health cha...
Skip the SBA: Buying a $4m Biz with a Conventional Loan
November 16, 2023 08:00 - 1 hour - 139 MBBen Bryer worked with a financial backer to find & buy a 65-year-old niche manufacturing business without an SBA loan. Topics in Ben’s interview: Spending $150K and 18 months on dead deal The emotional toll of a failed deal Freelancing to partially fund his search Buying a pin gage manufacturer What attracted Ben to the business Choosing a conventional loan over SBA loan Building relationships with lending partners Tech debt as a liability The benefits of having long-term...
Doing It His Way: First-Timer Buys 2 at Once
November 13, 2023 08:00 - 1 hour - 174 MBMike Okhravi left a cushy tech career to buy a towing business & a flooring business — and within 30 days of each other. Topics in Mike’s interview: Why he passed on the Search Fund Accelerator His philosophy on taking more risk by moving fast Signs of a motivated seller Buying a 4-person garage flooring business Surprises after acquiring the business Why profit dips post-acquisition Discarding the “searcher rules” What he loves about the towing business Operating 2 busin...
The Upside & Downside of Search, from a 20-Year Veteran
November 09, 2023 08:00 - 51 minutes - 117 MBA fireside chat with veteran searcher & investor Kent Weaver recorded at the Self-Funded Search Conference in Dallas. Topics in Kent's interview: Kent's history: his search & how he evolved into an investor in searchers How the first 2 or 3 years post-acquisition are different in a self-funded search vs. a traditional search fund How traditional search feels different today vs. its early days What is a "3am business"? The power of choosing a quality industry to buy a business...
Passion, Meet EBITDA: The Joy of Buying an Art Gallery
November 06, 2023 08:00 - 1 hour - 183 MBSean Moore looked at a handful of businesses, but a fine art gallery with over $1m SDE won the art collector's heart. Topics in Sean’s interview: Pulling $1M out of his 401k to buy an art gallery How his gallery brings in $1M in SDE The ecommerce aspect of the gallery The additional revenue stream of a frame shop Opportunities to improve the gallery website His peer group that supported his search Choosing a passion business over a “boring” one Forming a connection with th...
Growing EBITDA from $750k to $2m: Time to Sell?
November 02, 2023 07:00 - 1 hour - 118 MBJohn Hubbard returns to share how "chasing EBITDA over revenue" has benefited the trailer fabricator he bought in 2021. Topics in John’s interview: Losing largest customer (25% of revenue) Earning $2m EBITDA on $6m revenue vs. $25m revenue Don't chase revenue, chase EBITDA Mentally transitioning from buyer of a business to the seller of it Why he's thinking about selling Selling vs. hiring an operator & holding How difficult finding a good operator is Appreciating how prec...
How to Buy a SaaS Business with an SBA Loan
October 30, 2023 07:00 - 1 hour - 181 MBIt CAN be done. Andrew Swiler acquired a SaaS business with $650k SDE using an SBA loan (and while living in Spain). Topics in Andrew’s interview: Why he preferred buying a SaaS business to an ecommerce one Key trait to being a successful acquisition entrepreneur Downside protection in a SaaS business The appeal of the Microsoft ecosystem Deferred revenue (and explaining it to a seller) Buying a SaaS business as a non-technical person How a SaaS business is valued History ...