Acquiring Minds

Tom & Dawson Matter bought a vent cleaning business operating out of a parking lot. The transition has been interesting.

Topics in Tom and Dawson’s interview:

• Teaming up to acquire Pro Duct Cleaning
• The nocturnal, detailed, messy nature of the work
• Tom keeping his W-2 while Dawson runs operations
• Maintaining a 42% margin
• Learning to deal with angry customers
• Upgrading the equipment and facilities
• Hiring Dawson’s wife to help with operations
• Switching from Google Calendar to a real CRM
• Trouble communicating with employees
• Chasing down payment from clients

References and how to contact Tom and Dawson:

• Pro Duct Cleaning
• [email protected]
• Dan Tagliatela on Acquiring Minds: Reward for a Brutal Transition: $760k EBITDA on 3 Hours/Week
• George Vallone on Acquiring Minds: When Buying Small Goes Right (3x Growth)

Get a complimentary IT audit of your target business:

• Email Nick Akers at [email protected], 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 email [email protected] and mention Acquiring Minds

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Connect with Acquiring Minds:

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

Register for the webinar:

• Where Searchers Go Wrong, Part 2 - Thu Dec 12 - https://bit.ly/3VtCvC1

Fred McGill liked the trades and zeroed in on electrical. The $3.2m business he bought is likely to grow 25% in year 1.

Topics in Fred’s interview:

• Founding a real estate start-up
• Comparing rental income to small business
• Acquiring an electrical company
• Reassuring employees during transition
• Learning how to hire electricians
• Compensation in the electrical industry
• Growth through digital marketing
• Miscalculating working capital
• Importance of making the phone ring
• Helping searchers through Blue Collar Advisory

References and how to contact Fred:

• LinkedIn
• Twitter
• Bray Electrical Services
• [email protected]

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

• The Acquisition Lab

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

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

• Book a call with Tim or email [email protected] 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

Register for the webinar:

• Where Searchers Go Wrong, Part 2 - Thu Dec 12 - https://bit.ly/4igqBVQ

Jordan Dubin and his partners are rolling up a home services industry. They blew by their 5-year goal in the first year.

Topics in Jordan’s interview:

• Partnering with his 2 friends
• Hand writing 200 letters to potential sellers
• Building a platform of garage door businesses
• Maintaining local brands
• Why private equity hasn’t picked over the industry yet
• How they chose the garage door market
• Building trust through honesty
• Hitting $20 million EBITDA in the first year
• Beachhead and tuck-in strategies
• The role of timing in acquisition success

References and how to contact Jordan:

• LinkedIn
• Guild Garage Group

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

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

• Oberle Risk Strategies - Search Fund Team

Get a complimentary IT audit of your target business:

• Email Nick Akers at [email protected], 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

Register for the webinar:

• Where Searchers Go Wrong, Part 2 - Thu Dec 12 - https://bit.ly/41ivxUl

Fragmentation & an enormous TAM drew Jonathon Tupper to buy a 30-year-old business in the asset-based lending industry.

Topics in Jonathon’s interview:

• Moving from politics to investment management
• Importance of liquidity
• Factoring: a form of asset-based lending
• What kinds of businesses benefit from factoring
• Buying a factoring business
• Acquiring without an SBA loan
• Paying 2x EBITDA
• Competing with banks and other lenders
• Running a Houston business from Southern California
• Challenge of hiring good employees

References and how to contact Jonathon:

• LinkedIn
• Jobe Services Inc.
• [email protected] 

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

• Book a call with Tim or email [email protected] and mention Acquiring Minds

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Get a complimentary IT audit of your target business:

• Email Nick Akers at [email protected], 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

Register for the webinar:

 • Where Searchers Go Wrong, Part 2 - Thu Dec 12 - https://bit.ly/4f0320C

Michael Johnson started searching in April. Today he's having the time of his life as owner of a $1.2m printing business.

Topics in Michael’s interview:

• Marine Corps experience in Iraq
• Acquiring a vending machine
• Frustration with his W-2 job
• Acquiring a SpeedPro location
• Ups and downs of negotiation and funding
• Frustrating first day as owner
• High demand for printing car wraps
• Empowering employees to be autonomous
• Hiring his wife to work in the business
• What he loves about the franchise model

References and how to contact Michael:

• LinkedIn
• The one-pager Michael used during outreach
• SpeedPro NW Raleigh
• Dominick Blue on Acquiring Minds: Buying & Growing a Business While Keeping a Day Job
• Jesse Safir on Acquiring Minds: Surviving the Nightmare: Sales Plunge 95%
• Dan Verboski on Acquiring Minds: Candid Reflections on 7 Years of SMB Ownership
• Jarett Berke on Acquiring Minds: When a Restaurant is a Great Business to Buy
• Adam Markley on Acquiring Minds: Getting Reps: Helping Others Look at Deals Led to a Holdco

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

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of 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

Link Moser built a nearly-passive business portfolio by acquiring tiny web design & hosting shops on favorable terms.

Topics in Link’s interview:

• Learning to build websites in the 90’s
• Starting a web design/hosting business
• Sending out letters to target businesses
• Acquiring other digital marketing agencies nearby
• Integrating the businesses he bought
• Customer attrition rates during transition
• Getting bored with passive income
• Considering buying a traditional, non-digital business 
• Willingness to sell his own business
• Pros and cons of remote work

References and how to contact Link:

• LinkedIn
• Windhill Design

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

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

• Book a call with Tim or email [email protected] and mention Acquiring Minds

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

Derek Croft bought a $1m SDE business with a national footprint in an unusual niche. Just don't call him The Lice King.

Topics in Derek’s interview:

• Leaving Bain to search for a business
• Acquiring LiceDoctors
• Why it’s good for a profitable business to be imperfect 
• Personal satisfaction from helping customers
• Payroll emergency on day 2
• Competition in the lice removal industry
• High staff turnover despite good pay
• Speeding up their response time
• Raising public awareness of their service
• His goal to double in 5 years

References and how to contact Derek:

• LinkedIn
• LiceDoctors
• ETA Circle

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Get a complimentary IT audit of your target business:

• Email Nick Akers at [email protected], and tell him you’re a searcher

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

Register for the webinars:

 • Understanding the Waterfall - Thu Nov 21 - https://bit.ly/4ftXfl8

Carley Mitus bought a home inspection business doing $380k SDE that runs leans & requires only 10 hours per week.

Topics in Carley’s interview:

• Her goal to retire at 35
• Partnering to do a search (maybe too quickly)
• Building relationships with brokers
• Buying a home inspection business
• Rocky transition to ownership
• Taking existing clients to dinner (25+ times)
• Getting referrals from real estate offices
• How they keep great inspectors
• Tricky relationship with the seller
• Earning the respect of their older colleagues

References and how to contact Carley:

• Instagram
• Insight Home Inspection Services

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

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

• Oberle Risk Strategies - Search Fund Team

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of 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

Register for the webinars:

 • Understanding the Waterfall - Thu Nov 21 - https://bit.ly/3AMj6Fk

Francisco Del Rio & Diego Silva are 5 acquisitions into a venture to consolidate veterinary practices in Chile & beyond.

Topics in Francisco & Diego’s interview:

• Vetting each other before partnering
• Teaming up to roll up vet clinics in Chile
• Pitching themselves to clinic owners
• Searching during strict Covid lockdowns
• Educating owners about business valuation
• Understanding the seller’s perspective
• Making variable compensation work
• Teaching receptionists to use sales scripts
• Finding investors and growing the business
• Vision to expand to neighboring countries

References and how to contact Francisco & Diego:

• Diego Silva LinkedIn
• [email protected]
• Francisco del Rio LinkedIn 
• [email protected] 
• Latam Vet

Get a complimentary IT audit of your target business:

• Email Nick Akers at [email protected], and tell him you’re a searcher

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

• The Acquisition Lab

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

• Book a call with Tim or email [email protected] 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

Register for the webinars: 

• Where Searchers Go Wrong - Thu Nov 14 - https://bit.ly/3O0im2a

• Legal Office Hours: Understanding the Waterfall - Thu Nov 21 - https://bit.ly/3O3zqo2

Sam Rosati & partners built the Sunbelt's largest commercial fencing contractor in 3 years. But the origins were modest.

Topics in Sam’s interview:

• His background in accounting and law
• Being inspired by Chenmark and Brent Beshore
• Acquiring Alpha Dumpsters with his brother
• Birth of SMBash
• Origin story of SMB Law
• How an independent sponsor differs from a self-funded searcher
• Investing in a commercial fencing business
• The role of luck in success
• Acquiring and consolidating fence businesses 
• Partnering with private equity

References and how to contact Sam:

• LinkedIn
• Twitter
• SMBootcamp
• Chandler Reed on Acquiring Minds: Boom, Bust, Boom: Buying a Whiplash Business
• John Hubbard on Acquiring Minds: Why Buy a Small Manufacturing Business? and Time to Sell? Growing EBITDA from $750k to $2m 

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

• Book a call with Tim or email [email protected] and mention Acquiring Minds

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Connect with Acquiring Minds:

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