Acquiring Minds

Sales had dropped to zero when Martin Bispels acquired Upper Park Disc Golf. A year later, they are nearing $2 million. Themes from Martin's interview: Buying a business on Flippa What Martin asks himself every day to be a good CEO Criteria used to identify a business to buy Hiring the seller of the business True cost of buying a business Making a detailed plan before acquiring the business Buildi...

Hard-won lessons about buying micro SaaS businesses from Andrew Pierno, who has acquired 3 and plans to buy many more. Themes from Andrew's interview: Breakdown of the XO Capital portfolio How to source micro SaaS acquisitions Micro SaaS due diligence Paying for operators The appealing product roadmap of tiny software vs. large Bottlenecks of the tiny model Whether moving upmarket make sense Wins...

Pete Seligman stepped off a comfortable corporate path to buy a small business in 2013. He's since acquired 4 more. Themes from Pete's interview: Why Pete exited the corporate track to acquire a company How risky is acquiring a business? Role of passion when deciding which business to buy Role of industry experience when deciding which business to buy How long it takes to succeed in acquisition en...

After years of struggling to launch products from scratch, Casey Allen pivoted to buy a $1.7m coffee supplies business. Themes from Casey's interview: Struggling for years to launch products from scratch The benefits of acquiring a company instead Buying an e-commerce business as COVID sales take off Buying a 24-year-old content site with 12 million annual visitors Content vs. e-commerce Advice fo...

Due diligence pro Ahmed Raza on the 3 key things to evaluate when buying a business in e-commerce, SaaS, or content. Themes from Ahmed's interview:  3 things to evaluate in an e-commerce business you might buy  3 things to evaluate in a SaaS business you might buy  3 things to evaluate in a content/affiliate business you might buy  Reach Ahmed at: LinkedIn His firm, Rapid Diligence Official episod...

Charles Barr just acquired DiMartino Plumbing. He considered HVAC & electrical as well but plumbing was the sweet spot. Themes from Charles’ interview: Buying a small business as a path to wealth Why plumbing? Why he decided against HVAC & electrical Numbers on the business & his deal Why he’s getting his plumbing license Reach Charles at:  LinkedIn His acquisition, DiMartino Plumbing...

Vivian Chen bought an abandoned online business for almost nothing, then grew it to $5k/mo — while keeping her day job. Themes from Vivian’s episode: Years of false starts before deciding to acquire Advice to side hustlers Parallels between buying an online business & real estate investing When to go full time Knowing yourself is key to your journey as an acquisition entrepreneur It takes long...

Chris Edwards' first 6 months as new owner has been a “bloody knife fight.” But things are looking up, with the business projected to profit $750k this year. Themes from Chris’s interview:  Chris’s advice for new owners (be a shock absorber)  What made Chris a competitive buyer  Solo buyer vs. having a partner  How to implement changes as a new owner (hint: slowly)  High stress, high stress, high...

Brute Force thrived during COVID, but 2021 hit hard. Sales plunged 60% in one month. Mike Brown bought it to fix it. Themes from Mike’s interview:  Why Mike was "acquisition curious" and what made him pull the trigger Betting on yourself  Unsexy local businesses vs. e-commerce  How the iOS privacy updates are affecting e-commerce  How Mike handled sales collapsing 60% from May to June  Adversity m...

Cassi Niekamp didn't know anything about fencing when she acquired Bowden Fence. But she turned this to her advantage. Themes from Cassi’s interview:  Bringing a student’s mind to your acquisition  Using vulnerability to earn trust  Doubling production in 60 days  Building rapport with the seller  Buying the first business you see  Reach Cassi at:  LinkedIn Her company, Bowden Fence Official episo...

Mike Gardon bought websites to be his own boss. His best acquisition does $100k/mo — and he bought it for 5 figures. Themes from Mike’s interview: Why buying a website is better than building from scratch SEO & affiliate websites Opportunity for smaller buyers of affiliate sites Thinking about your websites like a financial portfolio The importance of a foundation business Reach Mike at:  Link...

5 tactics to boost sales of acquired e-commerce businesses — and other insights from e-commerce aggregator TCM Digital. Key themes from Golan's interview: There is still plenty of room for solopreneurs to made good e-commerce acquisitions. Prices of e-commerce businesses have gone up, but still good value there. 5 tactics TCM uses to quickly boost sales of the e-commerce businesses they acquire. T...

How an outsider started with little money and bought 12 translation agencies in 6 years, aiming to reach €5m in revenue. Key themes from Cédric's interview: Acquired a translation agency in 2015 that was doing about €1.5m annually. He had little of his own money at that time and took a large loan to make the acquisition happen. 6 years later, he's acquired 11 more agencies and is aiming to reach €...

With 6 e-commerce acquisitions and counting, Kelcey Lehrich has built 365 Holdings rapidly over the last 4 years. Key themes from Kelcey's interview: E-commerce as a path for acquisition entrepreneurs Other businesses Kelcey likes for acquisition entrepreneurs Business-buyer fit Personal guarantees Reach Kelcey Lehrich at: @kelceylehrich LinkedIn His e-commerce holding company, 365 Holdings The 36...

An early buyer on MicroAcquire, Spencer Scott acquired a SaaS for $280k. He analyzed the deal like a rental property. Key points from Spencer's story: He wasn't looking seriously for an acquisition but saw an opportunity and grabbed it: Median. The tech is what impressed him most. He couldn't believe the product was a small indy SaaS built by a couple developers. Median was selling for about 4x re...

Dan Spracklin acquired a septic pumping business doing $1M annually, then grew it to $3M and margins to 30% in 2 years. Key points from Dan's story: Gray Brothers was a septic pumping business founded in 1929, run by Dan Spracklin's father-in-law. It was generating about $1m per year in revenues from 22,000 customers. Septic pumping companies typically have margins of 10-15%. Dan & his wife ad...

Two brothers took over a 110-year-old business in a stagnating industry. 7 acquisitions later, the future is bright. Key points from Ben's story: Ben Grossman & his brother pivoted their 110-year-old family business from printing to promotional products. The strategy was executed by acquisition: 7 of them from 2013 through 2021. Ben discusses the importance of treating sellers well to build a...

How an online entrepreneur teamed with a family office to acquire & grow a portfolio of 15 websites for over $2 million. Key points from Paul's story: Paul Lemley teamed with a family office to source, acquire, and grow a portfolio of websites. They ultimately acquired 15 sites across 3 acquisitions, spending between $2 and $3 million in total. Paul highlights 5 lessons from this recent foray...

Rick Schmitz was an inexperienced 22-year-old with no money when he acquired a run-down ski resort and turned it around. Key points from Rick's story: Rick Schmitz was a 22-year-old graduating senior uninterested in pursuing a career in finance. He saw a small ski resort for sale in his native Wisconsin. It had been on the market (and losing money) for 5 years. Negotiated the original list price d...

In just 9 months, Mike Botkin decided to acquire a business, negotiated a great deal, and dramatically improved profits. Key points from Mike's story: B & B Landscaping was generating around $800k in annual revenues. Acquired it for 2x of SDE. Paid 50% cash up front, then the remaining 50% was seller financed with a 4-year loan at zero interest. Turns out a third of customer accounts are unpro...

Nick Haschka left a Silicon Valley career and bought an office plant service in 2017, then acquired 9 more through 2021. Key points from Nick's story: The Wright Gardner was doing $1-2m in annual revenue, with margins in the 20% range. Acquired the business in 2017 for ~3x of SDE. Used SBA for 65-70% of the purchase price, 15% seller financing, and cash for the rest. Four months after acquisition,...

How first-time acquirer Philippe Vanderhoydonck found a 30-year-old trade media business & bought it in under 3 months. Reach Philippe Vanderhoydonck at: LinkedIn His acquisition, PETS International Key points from Philippe's acquisition: PETS International is a 30-year-old trade publication that publishes 6 magazines and hosts 2 conferences per year Generates 20-35% margins on low-seven-figur...

How former management consultant Scott Whitt acquired and grew a small clinical trials business into the millions. Key points from Scott's acquisition: Triad was generating $850k in revenues & large 70% margins Scott acquired it in 2015 for 3.5x earnings Used ROBS for part of the acquisition financing Grew revenues to $3m in 5 years Predicts business can grow to $6-7m Reach Scott Whitt: scott_...

Tyler Deike bought a small manufacturer for the cost of property & equipment, making the business itself almost free. Key points from Tyler's acquisition: Blackhawk Fiberwerx was doing $500k in sales with $100k in profit Seller was a retiring and overwhelmed 80-year-old Tyler couldn't due-diligence the deal to death — had to "cross fingers and dive in" Huge margin of safety. Business was selli...

Mike Yarmo bought a struggling distributor & turned it into a local powerhouse in a different niche — then sold for 5x. Key points from Mike's acquisition: Owner was disengaged, retiring, and looking to sell his food distribution company Company was 25 years old but had terrible margins Mike & team acquired for low 7 figures, or ~2x earnings Pivoted the company, grew aggressively over next...