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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:
    How a $40k Acquisition Led to a Franchise Empire Oct 11, 2022
    Show notes

    James Temple & his mother acquired a struggling Mathnasium franchise in 2009. Today, they do $7m across 19 locations.

    Topics in James' interview:

    • Buying vs. starting a franchise location
    • Is rolling up easier in a franchise system?
    • Turning around underperforming franchise locations
    • How to assess the risk of a franchise system
    • 3 criticisms of franchises that MBA student always have
    • Numbers behind his first acquisition
    • Growing to 19 franchise locations in 13 years
    • How a 19-unit franchise business is structured & operated
    • Evaluating franchise opportunities from a risk-adjusted perspective
    • Revenue range of Mathnasium franchises
    • Mathnasium fees
    • What exactly do you get from a franchisor for the franchise fee?
    • Passion and purpose — is it necessary?
    • Franchise consultants (and how they are incentivized)
    • How to start investigating opportunities if you're interested in a particular franchise

    Links & how to reach James:

    • Mathnasium
    • FDD Exchange
    • LinkedIn

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

    • Oberle Risk Strategies - Search Fund Team

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

    • The Acquisition Lab

    Connect with Acquiring Minds:

    • YouTube channel (easy access to all past + future interviews)
    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Selling a Business for 5x a Year After Buying It Oct 04, 2022
    Show notes

    Sumana Sanjeeva got into ecommerce by chance. 3 years later, she's acquired 4 ecom businesses & sold one for over $5m.

    Topics from Sumana's interview:

    • Brick & mortar vs ecommerce businesses
    • Best type of ecommerce to buy for a first-timer
    • Buying an ecommerce business knowing very little about it
    • Learning quickly how to sell on Amazon
    • Finding an ecommerce business on BizBuySell
    • Terms of her deal
    • One decision that made the business thrive during COVID
    • Selling to aggregators
    • Talking to 14 of them
    • Terms of her sale
    • Cash flow issues with a growing ecommerce business
    • Her 3 new ecommerce acquisitions
    • Focusing exclusively on FBA
    • Running in-person learning center franchises

    How to reach Sumana:

    • LinkedIn
    • sanjeevasumana AT gmail

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

    • Oberle Risk Strategies - Search Fund Team

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

    • The Acquisition Lab

    Connect with Acquiring Minds:

    • YouTube channel (easy access to all past + future interviews)
    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Ups and Downs of Buying Small (and Keeping a Job) Sep 29, 2022
    Show notes

    Toni Kononova bought a ghostwriting business for $500k to experiment with buy-then-build while limiting her downside.

    Topics in Toni's interview:

    • What to love about a ghostwriting & editing business
    • The business of self-publishing
    • What is "vanity press"?
    • Why a terrible website can be OK
    • Getting close on a small B2B SaaS business
    • Lowering her SDE criteria
    • Numbers & terms of her acquisition
    • De-risking an acquisition
    • Buying a business while having a full-time job
    • Why keeping her full-time job helped get the loan
    • Running the acquisition as a side hustle
    • Employee turnover & sales decline during transition
    • The popularity of search among Silicon Valley workers
    • Search in Russia

    Links & how to get in touch with Toni:

    • Write My Wrongs
    • toni AT writemywrongs DOT co

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

    • Oberle Risk Strategies - Search Fund Team

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

    • The Acquisition Lab

    Connect with Acquiring Minds:

    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Reflections After 1 Year of Searching Full Time Sep 27, 2022
    Show notes

    Frustrated searchers: this episode is for you. Jesse Sunquist shares 4 lessons from a year of hunting for a business.

    Topics in Jesse's interview:

    • What he learned going from part-time to full-time searching
    • Why brokers prefer working with full-time searchers
    • "Spouse-funded" searcher
    • How TRULY difficult it is to get your first deal done
    • Embrace change when it comes to your search criteria
    • How personal each searcher's journey is
    • The perils of comparing your search to others'
    • The temptation to buy (very) small
    • Opening your mind to acquiring a franchise
    • Isolation & loneliness during search and how to counteract it
    • The importance of just getting started
    • Over-investing in your tech stack, website, LLC formation, etc. is procrastination

    How to reach Jesse and other links:

    • Original post on Searchfunder: Reflections after 1 year of searching full time
    • @jsunquist on Twitter
    • LinkedIn
    • jesse AT mtsophia DOT capital
    • Jesse's search website, Mt Sophia Capital

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

    • Oberle Risk Strategies - Search Fund Team

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

    • The Acquisition Lab

    Connect with Acquiring Minds:

    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Not Just a Young Man's Game: Acquiring at 60 Sep 20, 2022
    Show notes

    When most people would be considering retirement, Anne Ristic started a new chapter of her career by buying a business.

    Topics in Anne's interview:

    • Deciding to buy a business at age 60
    • How Ruth Bader Ginsburg inspired her to buy a business
    • How she budgeted her target acquisition size
    • Raising money from banks for an acquisition in Canada
    • Canadian banks' familiarity with search
    • About AES, the business she bought
    • Growth potential for PEO in Canada
    • How much industry research she did
    • How she envisions growing AES
    • Meeting the managers during the transaction process
    • Nuances to search in Canada
    • communEtA, the student-run investment group
    • Being a woman when buying a business

    Reach Anne at:

    • anne AT agencyemployment DOT ca
    • LinkedIn

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

    • Oberle Risk Strategies - Search Fund Team

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

    • The Acquisition Lab

    Connect with Acquiring Minds:

    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Links:

    • Agency Employment Services (AES)
    • communEtA

    Opening Up to Franchises to Buy a Great Business Sep 13, 2022
    Show notes

    How Doug Johns overcame his reservations about being a franchisee to acquire a dream business with $1.8m EBITDA.

    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 are so appealing as acquisitions
    • Loving, rather than running from, managing people
    • Why the top home service businesses have more sophisticated funnels than the Fortune 500
    • ServiceTitan
    • Where the opportunity is when the business you buy is already well-run and mature
    • Owning a plumbing company without knowing anything about plumbing
    • The numbers of Doug's deal
    • The exact multiple is way less important than you think
    • Using ROBS to buy the business
    • Why high growth can make a business harder to finance
    • Understanding debt service coverage ratio (DSCR) thresholds
    • Doug's tip for choosing an SBA lender
    • The $500k value of Doug's appeal to the seller
    • Going to meet a seller face to face

    Reach Doug at:

    • doug DOT johns AT couffley DOT com
    • LinkedIn

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

    • Oberle Risk Strategies - Search Fund Team

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

    • The Acquisition Lab

    Connect with Acquiring Minds:

    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    The Appeal of Lead Gen Businesses (Especially Old Ones) Sep 07, 2022
    Show notes

    A primer on lead gen businesses from Jaime Arias, who bought a 14-year-old biz that generates online leads for dentists.

    Topics in Jaime's interview:

    • Choosing self-funded over a traditional search fund
    • Buying tiny sites on Flippa
    • The opportunity with "old" internet businesses
    • 3 types of sellers on Flippa
    • Using BuiltWith to generate proprietary outreach list
    • About Patients4you
    • Lowering acquisition targets from $750k - $1m cash flow to $200k - $400k
    • "Rank & Rent" model for local lead gen
    • What are you really buying with a lead gen business?
    • Lead brokers
    • SEO vs. PPC for lead gen
    • Isn't Google Ads too competitive already for local lead gen?
    • Getting comfortable with Google algorithm risk
    • Why Patients4you is an agency more than a lead gen website
    • Deal terms
    • Using BizBuySell for digital businesses
    • Centurica
    • How he's growing Patients4you
    • Slow feedback loop of local lead gen businesses

    Reach Jaime at:

    • jaimearias.com
    • LinkedIn

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

    • Oberle Risk Strategies - Search Fund Team

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

    • The Acquisition Lab

    Connect with Acquiring Minds:

    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Building an HVAC Holdco to £60m in Revenue Aug 30, 2022
    Show notes

    Sam Turner is 3 acquisitions into a 5-year plan to buy HVAC businesses across the UK that together cash flow £6m/yr.

    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
    • Sam's goal for revenue/EBITDA/multiple and his own wealth
    • Buying small vs. buying big
    • Buying an HVAC with mostly new construction vs. maintenance revenue
    • White collar people buying blue collar businesses

    Reach Sam at:

    • sam DOT turner AT advantos DOT com
    • LinkedIn

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

    • Oberle Risk Strategies - Search Fund Team

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

    • The Acquisition Lab

    Connect with Acquiring Minds:

    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Rolling Up Real Estate Appraisal Firms Aug 23, 2022
    Show notes

    Kevin Swenson shares his story of buying a $3m real estate appraisal firm as a platform to roll up the fragmented space.

    Topics from Kevin's interview:

    • Why the real estate appraisal industry?
    • How to add value as the entrepreneur doing a roll-up
    • Roll-up dynamics
    • Appraisal businesses vs. appraisal management companies
    • Story of his acquisition, the platform business
    • The "Your Sure Thing" philosophy
    • Buying in an industry where you DON'T have experience
    • The nature of real estate service businesses
    • How to mitigate risk when buying a real estate service business
    • Acquisition opportunities in real estate services beyond appraisal
    • How it's going since the real estate market slowed
    • Pivoting a roll-up strategy to react to the market

    Reach Kevin at:

    • @KevinWSwensonJr
    • LinkedIn

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

    • Oberle Risk Strategies - Search Fund Team

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

    • The Acquisition Lab

    Connect with Acquiring Minds:

    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Growing an Ecommerce Acquisition 13x in 4 Months Aug 16, 2022
    Show notes

    Ramon Van Meer bought an ecommerce business doing $30k/mo. A few tweaks & months later, it was up to $400k per month.

    Topics in Ramon's interview:

    • What to look for in an underperforming ecommerce business
    • How to quickly improve an ecommerce business
    • The effect of turning on paid advertising
    • The true nature of running an ecommerce business
    • The power of niches
    • User experience buying a digital business versus an offline business
    • Who should buy versus build
    • How to make money in content
    • Growing a content site from scratch to a $9m sale in 2.5 years
    • The dangerous temptation of buying too many businesses
    • Buying a YouTube channel
    • Decline of a YouTube channel business immediately after acquiring it
    • SBA loan for a YouTube channel acquisition
    • Buying a SaaS business

    Reach Roman at:

    • @ramonvanmeer

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

    • Oberle Risk Strategies - Search Fund Team

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

    • The Acquisition Lab

    Connect with Acquiring Minds:

    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Links & mentions:

    • Alpha Paw
    • Ramon's viral Twitter thread: selling $35m of dog ramps

    Previous 1 39 40 41 42 43 50 Next

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