Acquiring Minds

Rob Carpenter was eager to start operating, so it only took 90 days to start searching then buy a $200k SDE business. Topics in Rob’s interview: His background in AI and software development His desire for a lower-stress lifestyle Prioritizing speed in his business search Changing his mind about franchises Buying 3 Merry Maids territories Digitizing processes in the business How labor turnover aff...

Years after one venture ended in failure, Jeff Velker bought a $2.5m pen maker with a strong brand & devoted customers. Topics in Jeff’s interview: His experience as a franchisee Bankruptcy after the 2008 crash The difference between buying a job and owning a business Losing his favorite pen led him to a pen company Appeal of pens in our digital age Acquiring with 2 partners Negotiating with a...

Jordan Evans left tech & bought a tiny, decades-old language services business. 6 years later, revenue is 17x larger. Topics in Jordan’s interview: Acquiring his parents’ language services business Spending 2 years preparing the deal Overpaying for a 180k SDE business Doubling the businesses through organic growth Pros and cons of seller notes “We’re buying a bucket of people and problems” Bol...

Register for the webinar: How (and Why) to Choose a Franchise as an Acquisition Entrepreneur - https://bit.ly/4fa3CKB Brett Kennedy has doubled & strengthened the sub-$1 million moving business he bought — but it hasn't been without pain. Topics in Brett’s interview: Being raised in an entrepreneurial family Buying Furniture Taxi, a moving company Driving the truck himself when employees don’t...

Register for the webinar: How (and Why) to Choose a Franchise as an Acquisition Entrepreneur - https://bit.ly/3WwZqNR When Dustin Carreon reached a ceiling in his first small business, he used the profits to start buying other businesses. Topics in Dustin’s interview: Growing up in his parents’ scrapping business Inheriting and growing Freelance Electronics Learning the most from a difficult acqui...

Register for the webinars: Search Investor Roundtable: State of the Market - https://bit.ly/4cvUOwV Overcoming Common Deal Sticking Points - https://bit.ly/4cD9z17 How (and Why) to Choose a Franchise as an Acquisition Entrepreneur - https://bit.ly/3LpQEuK How Adam Markley evaluated thousands of businesses for sale and bought a handful of his own (6 in his portfolio today). Topics in Adam’s intervi...

Register for the webinars: Search Investor Roundtable: State of the Market - https://bit.ly/4cCMyuZ Overcoming Common Deal Sticking Points - https://bit.ly/3LkCpr3 How (and Why) to Choose a Franchise as an Acquisition Entrepreneur - https://bit.ly/4f2hCGc Nick Haschka & Dillan Ferguson are 5 months and 2 acquisitions into a roll-up targeting $50-60m revenue in 5 years. Topics in Nick and Dilla...

Register for the webinars: SBA Lender Roundtable: State of the Market - https://bit.ly/4bydwTe Due Diligence Office Hours - https://bit.ly/3WbVpxT Search Investor Roundtable: State of the Market - https://bit.ly/45SWMEY Purchase Agreement Fights: How to Avoid (or Win) Them - https://bit.ly/4eQ7z79 How Dominick Blue bought an air duct cleaning business and took it into HVAC services, all while reta...

Register for the webinars: SBA Lender Roundtable: State of the Market - https://bit.ly/4eTZ8Yn Due Diligence Office Hours - https://bit.ly/3WbAs6h Search Investor Roundtable: State of the Market - https://bit.ly/4eVYDxc Purchase Agreement Fights: How to Avoid (or Win) Them - https://bit.ly/4bwcgQx By doubling a $3m EBITDA business Juan Aguilar bought with traditional search fund terms, he is able...

Register for the webinars: Thu July 11 - SBA Lender Roundtable: State of the Market - https://bit.ly/4eJqUXB Fri July 12 - Due Diligence Office Hours - https://bit.ly/3VPQf9p We caution against thinking you can find it: 100% seller financing. But Renan Cortez did — and on a sizable business. Topics in Renan’s interview: His background as an Army medic Learning about acquisition via Codie Sanchez U...

Register for the webinars: Thu July 11 - SBA Lender Roundtable: State of the Market - https://bit.ly/3XSdIcG Fri July 12 - Due Diligence Office Hours - https://bit.ly/3W1zQA6 Garrison Snell enjoyed a modest exit at age 24. By 30, he'd parlayed that into a holdco with $9m EBITDA and a mission. Topics in Garrison’s interview: Building and exiting a recording artist marketing agency His objective to...

Register here for the webinar , How to Buy a Business & Hire an Operator at Once https://bit.ly/3KJnYwg 7 years ago Dan Verboski bought a sign business with $650k in earnings. He's doubled it, but ownership has taken a toll. Topics in Dan’s interview: Background in the Marines and retail Buying a sign company in Tyler, Texas Culture clashes and problem employees Selling off his real estate to...

Register here for the webinar , How to Buy a Business & Hire an Operator at Once https://bit.ly/3KH9RaS Will Smith has partnered with Niklas James & Max Lummis in a fund to invest in searcher & independent sponsor deals. Topics in this episode: Why raise a fund? How a fund comes together What it was like to raise money from LPs for a blind pool Why a business might be great for a searc...

Register here for the webinar , How to Buy a Business & Hire an Operator at Once https://bit.ly/3Rto4Mc -- Get Remediation Company CIM - Request the NDA to get the CIM of the Midwestern niche remediation company. https://bit.ly/45spnAI -- Before acquiring a commercial painting business doing around $2m, Colin Gates worked on a crew as one of its painters. Topics in Colin's interview: Aggressiv...

Register here for the webinar , How to Buy a Business & Hire an Operator at Once https://bit.ly/3RuI018 -- Get Remediation Company CIM - Request the NDA to get the CIM of the Midwestern niche remediation company. https://bit.ly/4b6rnjA -- JD Beck transformed a small (and small-town) plumbing business, took it into a larger market, and tripled it in a year. Topics in JD’s interview: Lessons lea...

Elliott Edge started as a searcher looking for a single business, then pivoted to a roll-up. He's 7 acquisitions in. Topics in Elliot’s interview: His philosophy on submitting LOI’s Acquiring a managed service provider amidst Covid His wife’s role in the acquisition Value of an MBA in acquiring a business Quickly going remote when Covid hit Building trust with employees How soon and fast to make c...

Register here for the webinar , The DO's & DON'Ts of the LOI (legal office hours) https://bit.ly/3VeWF1B Matt Pohl & his wife bought a small welding business with extreme key person risk. They 4x'd the business in 2 years. Topics in Matt’s interview: Starting, growing and selling his own business Acquiring a welding business with his wife Learning how to hire welders The difficulties of hi...

Register here for the webinar , The DO's & DON'Ts of the LOI (legal office hours) https://bit.ly/3yCQaOw Despite having no experience in manufacturing, Jens Grudno jumped when he heard about a failing straight-razor business. Topics in Jens’s interview: Buying a bankrupt razor manufacturer Embracing risk in German business culture Cleaning out and moving a 116-year old business Another company...

Register here for the webinar , The DO's & DON'Ts of the LOI (legal office hours) https://bit.ly/4538koZ Stephen Quindlen & Paul Westhart have found powerful multipliers that could yield huge returns in an unlikely industry. Topics in Stephen and Paul’s interview: Acquiring auto repair shops Retaining talent by adding employee benefits Fleet vs. passenger car business Almost losing a forem...

Matt Drndak bought a parts business with a plan to grow it. It worked — he's doubled earnings. But it's taken patience. Topics in Matt’s interview: Losing everything in the Great Recession His experience in franchises Buying an online store for construction equipment parts Leveraging service to stand out from competitors Determining the value of the inventory Serving customers with low computer li...

Summary from Webflow: The first business Colin King bought was tiny & unpleasant but also the crucial first step to buying more & better ones. Topics in Colin’s interview: Finding his first business (and business partner) on Craigslist Delivering auto parts in the middle of the night Buying a turnaround silk florals business When his clothing business doubled in revenue overnight Day-to-da...

Cody Agee thought food testing would be a good recession-resistant business to buy. 2 weeks later, one listed for sale. Topics in Cody interview: Bypassing business school Cashing out his 401(k) without using ROBS Buying a food safety and testing lab The moat of licensing requirements His advantage over much larger competitors Adjusting purchase price based on quality of earnings report Finding in...

Jeff Homer bought a small local music school as a fun side hustle. It turned out to be the opportunity of a lifetime. Topics in Jeff interview: Switching from high finance to music schools Buying his first music school as a side project Raising growth equity after first 2 acquisitions Acquiring a music school every month Artists’ negative predisposition toward selling Comparing profitability of mu...

Jarett Berke told his intermediary "no restaurants" but changed his tune when he saw what a great business Lou's was. Topics in Jarett’s interview: Finding a business through an accountant Why restaurants are a tough business Comparing military service to running a restaurant Buying a restaurant with exceptional margins Learning every job in the restaurant Pivoting to delivery during Covid Doing a...

Scott Walton bought 2 barely-profitable blue collar companies, changed the culture, unlocked growth & hired a president. Topics in Scott’s interview: Acquiring with a partner Solving their recruitment problem Doubling revenue in 18 months His 3-step LOI strategy Incentivizing good customer service Improving their company culture Challenges after acquisition Financing without the SBA Creative d...