Acquiring Minds

Register for the webinar:How (and Why) to Choose a Franchise as an Acquisition Entrepreneur - https://bit.ly/4fa3CKBBrett 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 familyBuying Furniture Taxi, a moving companyDriving the truck himself when employees don’t showSurprises the seller failed to mentionGood and bad of buying smallDaily stressors of running a small businessHiring a GMDoubling the business despite a shrinking marketYour employees are your customers The next company he wants to buyReferences and how to contact Brett:LinkedInAdrian Pinto’s episodeAtlanta’s Furniture TaxiWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabSmithlist 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 BusinessConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register for the webinar:How (and Why) to Choose a Franchise as an Acquisition Entrepreneur - https://bit.ly/3WwZqNRWhen 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 businessInheriting and growing Freelance ElectronicsLearning the most from a difficult acquisitionTiming and luck mattersKey person risk in small-staff businessesHis mistake of expanding before establishing expectationsCross-training employees as part of his holdco visionAn investor attitude compared with an entrepreneur attitudeBuilding a holdco without a college educationChallenge of writing down processesReferences and how to contact Dustin:LinkedInTwitterCOI HoldingsSmithlist 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 BusinessGet a complementary pre-acquisition HR & PEO review for your target business:Contact mark@aspenhr.com or visit Aspen HRGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register for the webinars:Search Investor Roundtable: State of the Market - https://bit.ly/4cvUOwVOvercoming Common Deal Sticking Points - https://bit.ly/4cD9z17How (and Why) to Choose a Franchise as an Acquisition Entrepreneur - https://bit.ly/3LpQEuKHow Adam Markley evaluated thousands of businesses for sale and bought a handful of his own (6 in his portfolio today).Topics in Adam’s interview:Using online courses to teach business acquisitionSBA loans vs. seller notesRaising your potential with partnershipsHis holdco of 6 diverse companiesHow acquisitions in the UK and US differPower of personalized outreach2 main tracks to business acquisitionAn operating partner who emptied the bank accountsWorking in a medical staffing agency before buying itLooking at both on and off-market businessesReferences and how to contact Adam:LinkedInTwitteramarkley@proxcapitalgroup.comPROX Capital GroupAdam’s fractional CFO firm, Veracity CFOTato Corcoran’s episodeLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register for the webinars:Search Investor Roundtable: State of the Market - https://bit.ly/4cCMyuZOvercoming Common Deal Sticking Points - https://bit.ly/3LkCpr3How (and Why) to Choose a Franchise as an Acquisition Entrepreneur - https://bit.ly/4f2hCGcNick Haschka & Dillan Ferguson are 5 months and 2 acquisitions into a roll-up targeting $50-60m revenue in 5 years.Topics in Nick and Dillan interview:How Nick and Dillan met on TwitterThe future of reliance on generatorsServing both residential and commercial customersSeparating the business into service and installation teamsDoubling the number of employeesAtmospheric river caused a crisis 3 weeks after acquisitionBeing a leader is different than being an employerDeveloping their own softwareWhere they find their techniciansComparing the risk of an asset purchase and a stock purchaseReferences and how to contact Nick and Dillan:Nick Haschka TwitterNick Haschka LinkedInDillan Ferguson TwitterDillan Ferguson LinkedInOnPoint GeneratorsGet a complementary pre-acquisition HR & PEO review for your target business:Contact mark@aspenhr.com or visit Aspen HRGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register for the webinars:SBA Lender Roundtable: State of the Market - https://bit.ly/4bydwTeDue Diligence Office Hours - https://bit.ly/3WbVpxTSearch Investor Roundtable: State of the Market - https://bit.ly/45SWMEYPurchase Agreement Fights: How to Avoid (or Win) Them - https://bit.ly/4eQ7z79How Dominick Blue bought an air duct cleaning business and took it into HVAC services, all while retaining his W-2.Topics in Dominick’s interview:Keeping his W-2 while acquiring companiesMistakes he made during diligenceRevamping service offeringsLooking for “diamond in the rough” leadersExpanding from air duct cleaning into HVACHis fetal position momentBeing ghosted by his bankBuying a business while expecting a babyAdvantage of selling directly to consumersDrawing from his training in the U.S. MarinesReferences and how to contact Dominick:LinkedInTwitterAir ASAPWinning Moves by Dan CremonsLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register for the webinars:SBA Lender Roundtable: State of the Market - https://bit.ly/4eTZ8YnDue Diligence Office Hours - https://bit.ly/3WbAs6hSearch Investor Roundtable: State of the Market - https://bit.ly/4eVYDxcPurchase Agreement Fights: How to Avoid (or Win) Them - https://bit.ly/4bwcgQxBy doubling a $3m EBITDA business Juan Aguilar bought with traditional search fund terms, he is able to hold it forever.Topics in Juan’s interview:Huge challenge of buying a business in Central AmericaBuying a door manufacturer in GuatemalaImplementing EOSMoving his focus from “how” to “who”Raising prices 25%Focusing on service, quality, and volumeFinding a CEO to replace himHaving a liquidity event without exiting the businessTransitioning towards a permanent capital modelPlan for a holdcoReferences and how to contact Juan:LinkedInPaltus CapitalGet a complementary pre-acquisition HR & PEO review for your target business:Contact mark@aspenhr.com or visit Aspen HRGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register for the webinars:Thu July 11 - SBA Lender Roundtable: State of the Market - https://bit.ly/4eJqUXBFri July 12 - Due Diligence Office Hours - https://bit.ly/3VPQf9pWe 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 medicLearning about acquisition via Codie SanchezUsing a virtual assistant to search for a businessNegotiating a 100% seller noteFeeling motivated by philanthropySpending too much money too fast after transitionGetting a bridge loan to make payrollRebranding the restoration companyRaising capital for growthHis large roll-up visionReferences and how to contact Renan:LinkedInTwitterSyndicate Building SolutionsSyndicate Venture GroupGet a complementary pre-acquisition HR & PEO review for your target business:Contact mark@aspenhr.com or visit Aspen HRGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamSmithlist is a new 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 BusinessConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register for the webinars:Thu July 11 - SBA Lender Roundtable: State of the Market - https://bit.ly/3XSdIcGFri July 12 - Due Diligence Office Hours - https://bit.ly/3W1zQA6Garrison 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 agencyHis objective to do the most good for the most peopleEarly ventures into real estateBuying and quickly selling a restaurantAcquiring in the manufacturing spaceUnderstanding and applying Porter’s 5 ForcesAdvantage of being a low-cost, essential supplierRecent leadership challenges at a new acquisitionBuilding an indefinite holding companyPower of a community-minded small businessReferences and how to contact Garrison:LinkedInTwittergarrison.snell@snellventures.comRafael Quinn’s episodeCompetitive Strategy by Michael E. PorterSmithlist is a new 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 BusinessWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register here for the webinar, How to Buy a Business & Hire an Operator at Oncehttps://bit.ly/3KJnYwg7 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 retailBuying a sign company in Tyler, TexasCulture clashes and problem employeesSelling off his real estate to keep the business goingHow he learned to fire fasterBuilding a new company cultureMaking personal changes to recover from burnoutStanding out by answering the phoneWhat he would do differently next timeHis growth as a leaderReferences and how to contact Dan:LinkedInTwitterLeon’s Signs Inc.ETA Circle in Houston, where Dan will be appearing on July 10thGet a complementary pre-acquisition HR & PEO review for your target business:Contact mark@aspenhr.com or visit Aspen HRLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register here for the webinar, How to Buy a Business & Hire an Operator at Oncehttps://bit.ly/3KH9RaSWill 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 togetherWhat it was like to raise money from LPs for a blind poolWhy a business might be great for a searcher but not an investorHow different investors have different needsWhy small acquisitions are hard for a fund to invest inValue of community in a fundMinds Capital’s process to assess dealsEvaluating deal strengths systematically“Best deal of the month” filterReferences and how to contact Niklas, Max and Will:Minds Capital (to learn more & submit a deal)Minds Capital page for investorsMax LummisNiklas JamesWill SmithWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register here for the webinar, How to Buy a Business & Hire an Operator at Oncehttps://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:Aggressively saving while working in private equityRecurring revenue is BSDon’t sweat getting the perfect purchase priceWorking as a painter for a month before buyingManaging prima donna employeesHis strategy of constantly bidding jobs and hiring Putting in a project manager and a GMWhy he stopped requiring depositsThe seller staying on as an employeeImportance of cash flow in keeping a business goingReferences and how to contact Colin:LinkedInTwitterMastercraft Coatingsmastercraftcoatingsfl@gmail.comSmithlist is a new 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 BusinessGet a complementary pre-acquisition HR & PEO review for your target business:Contact mark@aspenhr.com or visit Aspen HRLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register here for the webinar, How to Buy a Business & Hire an Operator at Oncehttps://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 learned from a failed dealBuying a tiny plumbing businessBringing operations into the 21st CenturyLearning from hiring mistakesExpanding through further acquisitionRaising prices and employee payMaking sacrifices to run the businessCompetitive landscape in home servicesHome services pricing modelsYour reputation determines the talent you attractReferences and how to contact JD:Ben Rizzo’s EpisodeNick Patrick’s episodeTwitterMountain Valley Plumbingjd@mtnvalleyplumbing.comLinkedInSmithlist is a new 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 BusinessWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

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’sAcquiring a managed service provider amidst CovidHis wife’s role in the acquisitionValue of an MBA in acquiring a businessQuickly going remote when Covid hitBuilding trust with employeesHow soon and fast to make changesCreating more value through roll-upsIntegrating new acquisitions into the roll-upHis belief in continuous changeReferences and how to contact Elliot:Recording of the The Anatomy of an LOI webinar with Sam RosatiLinkedInVelonex TechnologiesSmithlist is a new 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 BusinessWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryGet a complementary pre-acquisition HR & PEO review for your target business:Contact mark@aspenhr.com or visit Aspen HRConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register here for the webinar, The DO's & DON'Ts of the LOI (legal office hours)https://bit.ly/3VeWF1BMatt 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 businessAcquiring a welding business with his wifeLearning how to hire weldersThe difficulties of hiring through a staffing agencyTransient nature of weldersGrowing while maintaining marginsStress of running a businessComparing zero-to-one to acquisitionCashflow management in a project-based businessUsing ReWild’s methods to grow the businessReferences and how to contact Guest:mpohl@rewildgroup.comLinkedInThe Rewild GroupSmithlist is a new 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 BusinessLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register here for the webinar, The DO's & DON'Ts of the LOI (legal office hours)https://bit.ly/3yCQaOwDespite 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 manufacturerEmbracing risk in German business cultureCleaning out and moving a 116-year old businessAnother company poaching their clientsPitfalls to avoid when buying a businessDeveloping a new, innovative productOperating a company six hours from homeComparing start-ups to acquisitionValue of going where there's less competitionThe craft of manufacturingReferences and how to contact Jens:j.grudno@dovo.comLinkedInTwitterDOVO OnlineSmithlist is a new 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 BusinessRegister for the Self-Funded Search Conference, September 13th - 15th in Dallas:Self-Funded Search ConferenceLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabGet a complementary pre-acquisition HR & PEO review for your target business:Contact mark@aspenhr.com or visit Aspen HRConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Register here for the webinar, The DO's & DON'Ts of the LOI (legal office hours)https://bit.ly/4538koZStephen 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 shopsRetaining talent by adding employee benefitsFleet vs. passenger car businessAlmost losing a foreman on day oneWhy they love the Mountain WestRecruiting California workers to IdahoInnovative real estate and business acquisition strategyOffering quality service and strong warrantiesExecuting the SBA 504’s Green Loan strategyLimitations of the SBA 7(a) loan for roll-upsReferences and how to contact Stephen and Paul:Stephen Quindlen - LinkedInPaul Westhart - LinkedInstephen.quindlen@bluewrench.compaul.westhart@bluewrench.comBlue WrenchSmithlist is a new 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 BusinessWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamRegister for the Self-Funded Search Conference, September 13th - 15th in Dallas:Self-Funded Search ConferenceConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

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 RecessionHis experience in franchisesBuying an online store for construction equipment partsLeveraging service to stand out from competitorsDetermining the value of the inventoryServing customers with low computer literacyNon-mechanic buying a mechanical parts businessCapturing the seller’s technical knowledge in YouTube videosDoubling revenue in 3 yearsImplementing EOS for future successReferences and how to contact Matt:LinkedInTwitterDHS EquipmentSmithlist is a new 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 BusinessGet a complementary pre-acquisition HR & PEO review for your target business:Contact mark@aspenhr.com or visit Aspen HRLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

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 CraigslistDelivering auto parts in the middle of the nightBuying a turnaround silk florals businessWhen his clothing business doubled in revenue overnightDay-to-day logistics of running diverse businessesAcquiring remote businesses: bookkeeping and e-learningImportance of working capital in seasonal businessesPros and cons of having a diverse portfolio of companiesAsking advice for the future of his holdco Finding and managing talent across diverse businessesReferences and how to contact Colin:LinkedInTwittercolin@circlecitycapitalgroup.comCircle City Capital GroupSmithlist is a new 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 BusinessGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

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 schoolCashing out his 401(k) without using ROBSBuying a food safety and testing labThe moat of licensing requirementsHis advantage over much larger competitorsAdjusting purchase price based on quality of earnings reportFinding investors on TwitterPersonally guaranteeing the seller noteHow he uses EBITDAR vs. EBITDAPutting in an enterprise resource planning (ERP) systemReferences and how to contact Cody:LinkedInTwitter/Xcody@splitmountaincapital.comSierra Dairy LaboratoryDino SawayaSmithlist is a new 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 BusinessWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

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 schoolsBuying his first music school as a side projectRaising growth equity after first 2 acquisitionsAcquiring a music school every monthArtists’ negative predisposition toward sellingComparing profitability of music vs. danceImportance of general managers in scalingImplementing apps to streamline operationsOther industries with roll-up potentialRolling up 60+ music/dance schools nationwideReferences and how to contact Jeff:LinkedInEnsemble Performing ArtsSmithlist is a new 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 BusinessLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabGet a complementary pre-acquisition HR & PEO review for your target business:Contact mark@aspenhr.com or visit Aspen HRConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter