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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

business entrepreneurship

All Episodes

105:49

Fire, Covid, Exit: 5 Years in a $12m Events Business

Acquiring Minds ·

2024/02/15

Register here for the webinar, How to Raise Equity to Buy a Businesshttps://bit.ly/3uwHx6yWill 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 fundFeeling like a “wartime president”His brutal first year as ownerValue of a strong company cultureScrambling to fulfill contracts after a large warehouse fireLayoff and salary cuts during CovidBuilding and strengthening the

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94:12

Taking a Blue Collar Biz from $900k to $2.4m in Earnings

Acquiring Minds ·

2024/02/12

Register here for the webinar, How to Raise Equity to Buy a Businesshttps://bit.ly/3SAWZXdAdam 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 sponsorPros & cons of having the federal government as a customerDoubling his work force in a “tough labor market”Why overhead doesn't need to scale with labor forceDoing nothing for the first six months as

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93:34

First-Timer Turns $20k into $900k in 19 Months

Acquiring Minds ·

2024/02/08

Only 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 boxGetting past major key person riskNick's fear of lacking operational experienceAcquiring without an SBA loan or investorsLearning to lead and handle conflictOperational intensity of a wedding catering businessCash flow advantages due to up-front depositsImprovements he made to the businessRealizing

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94:32

The Model Works: Reflections of a Plumbing Business...

Acquiring Minds ·

2024/02/05

Doug 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 businessWorking 60 hours a week His experience with ROBS structure and buyoutSlowdown in home services industryWhy he loves owning & operatingWhen & why to raise your pricesMoving to a small town in a metro areaIntegration of business into daily lifeFierce competition in home servicesGreat benefit of

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87:35

Buying a $4m Business (with 80% Recurring Revenue)

Acquiring Minds ·

2024/02/01

Register here for the webinar, The Anatomy of an LOI:https://bit.ly/4263xl0It 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 himBeing rejected by a search acceleratorStarting an accounting firm while searching18 months of dead deals before acquisitionRole of luck in business successRole of his wife How accounting practices are valued and pricedRed flags to look for during

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104:02

Taking the Plunge into Extreme Ownership

Acquiring Minds ·

2024/01/29

Register here for the webinar, The Anatomy of an LOI:https://bit.ly/3U52srPAt 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 officeInvesting 2 months in a deal that diedTrade-off between equity and salary in traditional searchGeographical search in South FloridaChallenges with healthcare regulationsWhy Robert Graham didn’t like the dealThe decision to

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91:05

Finding a Good Business After 2+ Years of Searching

Acquiring Minds ·

2024/01/25

Register here for the webinar, The Anatomy of an LOI:https://bit.ly/3SsxKrtRyan 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 dealValue of a thorough quality of earnings investigationWhy “stupid good margins” are a bad signBuying a residential pool business in the Golden Isles of GeorgiaBeing ghosted by his bookkeeper after transitionHis intern who stepped in after

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113:49

Buying a Business to 20x a Real Estate Empire

Acquiring Minds ·

2024/01/22

Register here for the webinar, The Anatomy of an LOI:https://bit.ly/492E8ehBuying 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 businessesModernizing and professionalizing a property management businessGrowing from 12 to 25 employeesThe pain of owning a business with no pricing powerSetting boundaries with clients around service offeringsPros and cons of

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76:34

4 Acquisitions In, Holdco Builder's Goal is £150m

Acquiring Minds ·

2024/01/18

Holdco 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 timelinesGetting through fetal position momentsBalancing diversification and integrationGurus in the business buying spaceLessons from his first acquisitionChange management in blue collar businessesIncreasing holdco revenue target from £60m to £150mExtending his 5-year plan to 10 yearsHis vision to improve

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104:48

14 Months from Searcher to $5.5m EBITDA

Acquiring Minds ·

2024/01/16

Luis 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 FloridaWorking with SIG (Search Investment Group) to raise capitalPitching investors and overcoming rejectionNegotiating a dead deal back to lifeAcquiring a linen rental businessSecond order effects of raising employee wagesLearning all the jobs in the businessMental weight of being the chief decision makerDoing a second big

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88:34

Shutting Down After a 4-Year Struggle

Acquiring Minds ·

2024/01/11

Watch the recording of our webinar on Financial Modeling a Self-Funded SBA Acquisition:https://acquiringminds.co/webinars/how-to-model-a-self-funded-sba-acquisitionThe 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 twinsBuying a cemetery management businessThe downside of flat monthly billingIncreasing expenses straining his bottom lineCovid deaths affecting his

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96:44

Buying a Big $7m Trade School

Acquiring Minds ·

2024/01/08

Watch the recording of our webinar on Financial Modeling a Self-Funded SBA Acquisition:https://acquiringminds.co/webinars/how-to-model-a-self-funded-sba-acquisitionIn 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 searchWhy they chose a traditional search fundInterviewing prospective investorsPotential in blue collar businessesThe future of trade

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100:13

Moving to a Small Town to Buy an SMB

Acquiring Minds ·

2024/01/04

When 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 AppalachiaHis vision to build a holding companyBuying an HVAC business in a small townTransferring skills he learned in the MarinesHiring veterans for their leadership capabilitiesLearning about HVAC through ride-alongsChanges he made after transitionRevenue growth and increasing headcountCyclicality of HVAC

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100:44

The Appeal of Buying a Food Product Business

Acquiring Minds ·

2024/01/02

Pat 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” searchStarting a shear-sharpening business while searchingGrowth, churn, & margins in his shear-sharpening businessWhy he wanted to buy a breading and batter mix company so badlySimilarities between food businesses & dropshipping businessesThe role of co-packers in the food industryChallenges & risks in his food

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88:55

Building an HVAC Holdco to £60m in Revenue

Acquiring Minds ·

2023/12/28

Sam 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 whomBuying without the benefit of an SBA loanWhy HVAC?Why buying small business is more appealing than real estateHarbour Club with Jeremy HarbourThe value in acquiring businesses in a highly-fragmented industryDeal structure for his first acquisitionSam's goal for

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85:29

Opening Up to Franchises to Buy a Great Business

Acquiring Minds ·

2023/12/26

How 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 businessOpening your mind to a franchiseThe many (overlooked) benefits to being a franchiseeCalling yourself "independent investor" instead of "searcher"Running a search like a B2B sales processThe appeal of a deal with few addbacksWhy home service businesses are so appealing as

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103:43

Building a $350m Holdco of Farms

Acquiring Minds ·

2023/12/21

Jack 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 businessesGold Leaf’s unique business modelAppeal of farmland as a safe and attractive assetHow farms are valuedHow specialty crops compare to row cropsWhat makes a farm high qualityUsing technology to farm efficientlyIncentivizing farm managersConverting conventional farms to organicLong-term nature of

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91:52

Factory Life: Buying a Manufacturer with $1m SDE

Acquiring Minds ·

2023/12/18

Ben 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 StreetLeaving finance to prioritize familyBuying a plastic bag manufacturerStarting his work day at 3:30 AMHis intense 2-month initiationCreating a manual and financial model to manage the businessChallenges of maintaining old machineryUnderstanding his employees' personal valuesLong-term vision to

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84:55

Scaling Sweaty Services with a Brokerage Model

Acquiring Minds ·

2023/12/14

Eddy 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 approachEarth Development’s unusual business modelNegotiating with an anxious sellerAcquiring during CovidHow being close to a target business changes rapport buildingBuying a highly seasonal businessOperating across multiple statesConvincing a key employee to stayRisk of customers taking relationships off

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104:34

2.5 Years from Buying to Exiting

Acquiring Minds ·

2023/12/11

Brian 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 rolesBuying property management companiesImproving their net promoter score (NPS)Building a culture of completion rate measurementRelocating positions and outsourcingImportance of trust in property managementSuccessfully transitioning to a remote-first businessDeciding

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427 results

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