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    Business

    Acquiring Minds

    Buying 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.

    Also on YouTube:
    https://www.youtube.com/@AcquiringMinds

    Sign up for episode summaries at:
    https://acquiringminds.co

    Advertise

    Copyright: © 2021 - 2023, Acquiring Minds

    • Apple Podcasts
    • Google Play
    • Spotify

    Latest Episodes:
    From 16 Years in Corporate to a $1m SDE Acquisition Aug 07, 2025
    Show notes

    Register for the webinar:

    • The "Plant Your Flag" Strategy: Build an Empire with ETA + Franchising - TODAY - https://bit.ly/3UH3w45

    After years of corporate success, Jesus Wong yearned for something else. When he discovered ETA, he knew he'd found it.

    Topics in Jesus’s interview:

    • Childhood in Mexico and Canada
    • Family history of entrepreneurship
    • Buying a Canadian garment repair business
    • Low capex, high labor costs
    • Structuring his deal without the SBA
    • Mitigating the risk of high customer concentration
    • Value of a high-quality deal team
    • Higher closing costs in Canada
    • Paying 5% interest on his loan
    • Answering the call of entrepreneurship

    References and how to contact Jesus:

    • LinkedIn
    • Gear re-Store
    • Vail Resorts
    • Patagonia
    • Scott Walton on Acquiring Minds: Building a $10m Platform from 2 Low-SDE Businesses
    • Andrew Stordeur on Acquiring Minds: $700k EBITDA with No SBA, No Money Down
    • Yan Vinarskiy on Acquiring Minds: From Searcher to Sponsor: How to Buy a $22m Business
    • Marc Nzojibwami on Acquiring Minds: The Model for a 3-Way, Long-Term Holdco
    • Haifeng Hu of Bennett Jones
    • Kevin Yu of MNP
    • Joey Tai of Crete Capital

    Learn 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 Team

    Get a free review of your books & financial ops from System Six (a $500 value):

    • Book a call with Tim or hello@systemsix.com and mention Acquiring Minds

    Connect with Acquiring Minds:

    • See past + future interviews on the YouTube channel
    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Edited by Anton Rohozov
    Produced by Pam Cameron


    Building a $25m FedEx Route Empire from $100k Equity Aug 04, 2025
    Show notes

    Register for the webinar:

    • The "Plant Your Flag" Strategy: Build an Empire with ETA + Franchising - Thu Aug 7 - https://bit.ly/45i7eGe

    Avery Tomek bought his first little $1m FedEx route with an SBA loan. 3 years later, he has 240 trucks and $600k weeks.

    Topics in Avery’s interview:

    • Pivoting from real estate to FedEx routes
    • Ups and downs of Covid
    • Expanding his fleet
    • Running his logistics business remotely
    • Everything hinges on weekly deposits
    • What makes a route lucrative (or costly)
    • No marketing or sales. Just operations.
    • Resale value of a FedEx route
    • Demanding nature of the business
    • “If you’re good, the world will compensate you.”

    References and how to contact Avery:

    • LinkedIn

    Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

    • Pioneer Capital Advisory

    Get a complimentary IT audit of your target business:

    • Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcher

    Download the New CEO’s Guide to Human Resources from Aspen HR:

    • From this page or contact mark@aspenhr.com

    Connect with Acquiring Minds:

    • See past + future interviews on the YouTube channel
    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Edited by Anton Rohozov
    Produced by Pam Cameron


    Buying a $200m Franchisor (Not Units, the Whole System) Jul 31, 2025
    Show notes

    Smithlist is a job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:

    • Smithlist - Operate & Lead a Business

    Tyler & Zach Gordon's search for an overlooked industry with good prospects led to a franchise system of thrift stores.

    Topics in Tyler & Zach’s interview:

    • Zach and Tyler’s backgrounds in franchising
    • Looking for career fulfillment
    • Formulating a search strategy
    • Focusing on overlooked industries
    • Discovering thrift store franchising
    • Evaluating franchise opportunities
    • Transitioning from franchisee to franchisor
    • Structuring the acquisition and partnership
    • Focusing their marketing on vendors
    • Prioritizing franchisee success and future growth

    References and how to contact Tyler & Zach:

    • Tyler’s LinkedIn
    • Zach’s LinkedIn
    • Horizon Point Capital
    • tyler@bcfranchise.com
    • zach@bcfranchise.com
    • Uptown Cheapskate Franchise
    • Kid to Kid Franchise
    • Buy a Franchise Portfolio: How to Choose a Brand

    Download the New CEO’s Guide to Human Resources from Aspen HR:

    • From this page or contact mark@aspenhr.com

    Get a free review of your books & financial ops from System Six (a $500 value):

    • Book a call with Tim or hello@systemsix.com and mention Acquiring Minds

    Get a complimentary IT audit of your target business:

    • Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcher

    Connect with Acquiring Minds:

    • See past + future interviews on the YouTube channel
    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Edited by Anton Rohozov
    Produced by Pam Cameron


    A $10m Acquisition for Freedom and Family Jul 28, 2025
    Show notes

    Smithlist is a job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:

    • Smithlist - Operate & Lead a Business

    Anica John bought a print-on-demand business to have more time with her kids without compromising her career ambitions.

    Topics in Anica’s interview:

    • Experience at Amazon, WalMart, and Disney Streaming
    • Choosing entrepreneurship over returning to office
    • Buying a publishing company for indie authors
    • High capex = moat
    • Diversity of their genres and clientele
    • Resurrecting a dead deal
    • How DiggyPOD stacks up to Amazon KDP
    • Carefully planning tech upgrades
    • Award-winning customer service
    • Running a business from out of state

    References and how to contact Anica:

    • LinkedIn
    • anica@anicajohn.com
    • DiggyPOD
    • rejigg

    Get complimentary due diligence on your acquisition's insurance & benefits program:

    • Oberle Risk Strategies - Search Fund Team

    Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

    • Pioneer Capital Advisory

    Learn more about Walker Deibel's done-with-you buy-side advisory:

    • The Acquisition Lab

    Connect with Acquiring Minds:

    • See past + future interviews on the YouTube channel
    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Edited by Anton Rohozov
    Produced by Pam Cameron


    You’ve Been Served: Buying a $1.3m Process-Serving Company Jul 24, 2025
    Show notes

    Register for the webinar:

    • Working Capital for SMB Acquisitions - TODAY - https://bit.ly/4kQcGGj

    At a low point in life, Raj Kankaria was served papers. But he liked the business and bought a process-serving company.

    Topics in Raj’s interview:

    • From investment banking to process server
    • What he liked about process serving
    • Buying the company from his boss
    • Building industry relationships
    • What TV gets wrong about process serving
    • Technology in process serving
    • Making changes on day one
    • Communicating unpopular changes to employees
    • Trading a high salary for ownership
    • Vision for business growth

    References and how to contact Raj:

    • LinkedIn
    • Lone Star Attorney Service

    Get a free review of your books & financial ops from System Six (a $500 value):

    • Book a call with Tim or hello@systemsix.com and mention Acquiring Minds

    Learn more about Walker Deibel's done-with-you buy-side advisory:

    • The Acquisition Lab

    Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

    • Pioneer Capital Advisory

    Connect with Acquiring Minds:

    • See past + future interviews on the YouTube channel
    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Edited by Anton Rohozov
    Produced by Pam Cameron


    One Year, 3x Revenue, and a Clear Path to $15M Jul 21, 2025
    Show notes

    Register for the webinars:

    • The Math & Logic of Deal Making - July 22nd - https://bit.ly/459kJJn
    • Working Capital for SMB Acquisitions - July 24th - https://bit.ly/4lBEhft

    Enrique Rodriguez bought a project-based construction business (gasp) with $1.4m in revenue. One year later it's at $4m.

    Topics in Enrique’s interview:

    • 17 years in project-based construction
    • Getting his MBA and electrician’s license
    • Buying too small for an SBA loan
    • Bringing a machine gun to a knife fight
    • Injecting his own money during the J-curve
    • Doing his own quality of earnings
    • His wife and father’s roles in the business
    • Disagreement with Walker Diebel
    • Assertiveness in managing employees
    • Celebrating milestones with his team

    References and how to contact Enrique:

    • LinkedIn
    • MAC General
    • The ReWild Group
    • Matthew Pohl on Acquiring Minds: 2 Welders and a Shop... to $3.8m in Sales
    • Justin Willess
    • Justin Willess on Acquiring Minds: Business Collapse After Going All-In

    Get a complimentary IT audit of your target business:

    • Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcher

    Download the New CEO’s Guide to Human Resources from Aspen HR:

    • From this page or contact mark@aspenhr.com

    Get complimentary due diligence on your acquisition's insurance & benefits program:

    • Oberle Risk Strategies - Search Fund Team

    Connect with Acquiring Minds:

    • See past + future interviews on the YouTube channel
    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Edited by Anton Rohozov
    Produced by Pam Cameron


    From Searcher to Sponsor: How to Buy a $22m Business Jul 17, 2025
    Show notes

    Register for the webinar:

    • Common Legal Diligence Issues (and How to Handle Them) - July 17th - https://bit.ly/4kwHlbw

    Yan Vinarskiy began as a self-funded searcher but shifted his model mid-search when he found a business too big for SBA.

    Topics in Yan’s interview:

    • Using a buy-side broker to search and close
    • Being inspired to take on a large deal
    • Trade-offs of independent sponsor economics
    • Board dynamics and governance
    • Building a pitch deck
    • Refining his investor pitch
    • Expanding the business model
    • Managing 2 separate businesses

    References and how to contact Yan:

    • LinkedIn
    • Floorguard
    • Calder Capital
    • Niklas James on Acquiring Minds: Self-Funded Search vs. Independent Sponsorship
    • Mike Okhravi on Acquiring Minds: Doing It His Way: First-Timer Buys 2 at Once

    Learn more about Walker Deibel's done-with-you buy-side advisory:

    • The Acquisition Lab

    Get a complimentary IT audit of your target business:

    • Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcher

    Get a free review of your books & financial ops from System Six (a $500 value):

    • Book a call with Tim or hello@systemsix.com and mention Acquiring Minds

    Connect with Acquiring Minds:

    • See past + future interviews on the YouTube channel
    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Edited by Anton Rohozov
    Produced by Pam Cameron


    Saying No to CEO Roles, Yes to Ownership Jul 14, 2025
    Show notes

    Register for the webinar:

    • Common Legal Diligence Issues (and How to Handle Them) - July 17th - https://bit.ly/4lo4Swu

    Accomplished CEO Marci LaRouech sought to build a business without investor pressure. A sub $1m HR firm was the way.

    Topics in Marci’s interview:

    • Leading Makai HR through growth and exit as CEO
    • 2 reasons she likes project work
    • Comparing HR consulting and PEO business models
    • Acquiring Seay HR with 40% seller financing
    • Leveraging associations and networks for client growth
    • Building a strong team for high-touch HR service
    • Growth in fractional HR work
    • Becoming the leading HR firm for the pest control industry
    • How AI can be useful for human resources
    • Ease of hiring in HR

    References and how to contact Marci:

    • LinkedIn
    • marci@seay.us
    • Seay HR
    • Seay HR ETA for Searchers
    • Iris Levine on Acquiring Minds: $6m Business, 3 Minutes From Childhood Home

    Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

    • Pioneer Capital Advisory

    Get complimentary due diligence on your acquisition's insurance & benefits program:

    • Oberle Risk Strategies - Search Fund Team

    Download the New CEO’s Guide to Human Resources from Aspen HR:

    • From this page or contact mark@aspenhr.com

    Connect with Acquiring Minds:

    • See past + future interviews on the YouTube channel
    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Edited by Anton Rohozov
    Produced by Pam Cameron


    From Sales Freefall to $1.2m/Month Jul 10, 2025
    Show notes

    By reconceiving the paint dealership he bought as a marketing & sales organization, Ryan Adams pushed it to new heights.

    Topics in Ryan’s interview:

    • Transferring from military to business
    • Focusing on selling one service
    • Underestimating working capital needs
    • The business tanked after acquisition
    • Rescuing the company by fixing his sales process
    • Properly incentivizing for the outcome he wants
    • Learning digital marketing himself
    • Cost per acquisition metric
    • Where he finds good sales guys
    • Expanding his territory by buying a competitor

    References and how to contact Ryan:

    • LinkedIn
    • Rhino Shield
    • $100M Leads: How to Get Strangers To Want To Buy Your Stuff by Alex Hormozi

    Download the New CEO’s Guide to Human Resources from Aspen HR:

    • From this page or contact mark@aspenhr.com

    Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

    • Pioneer Capital Advisory

    Get a complimentary IT audit of your target business:

    • Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcher

    Connect with Acquiring Minds:

    • See past + future interviews on the YouTube channel
    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Edited by Anton Rohozov
    Produced by Pam Cameron


    Reviving a Covid-Crushed Business: $0 to $6M in 3 Years Jul 07, 2025
    Show notes

    Adam Rao took a chance on an exhibit production business that had generated zero revenue in 15 months. It's gone well.

    Topics in Adam’s interview:

    • Discovering impact companies
    • Acquiring with a business partner
    • Buying a distressed business during Covid
    • Getting 100% seller financing
    • Inheriting an angry, dysfunctional staff
    • A brutal first 9 months
    • Acquiring an add-on with an SBA loan
    • His role as the visionary
    • Achieving stability by merging companies
    • Reducing waste in a high-waste industry

    References and how to contact Adam:

    • adam.rao@triple20.co
    • LinkedIn
    • Triple20

    Get complimentary due diligence on your acquisition's insurance & benefits program:

    • Oberle Risk Strategies - Search Fund Team

    Get a free review of your books & financial ops from System Six (a $500 value):

    • Book a call with Tim or hello@systemsix.com and mention Acquiring Minds

    Learn more about Walker Deibel's done-with-you buy-side advisory:

    • The Acquisition Lab

    Connect with Acquiring Minds:

    • See past + future interviews on the YouTube channel
    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Edited by Anton Rohozov
    Produced by Pam Cameron


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