A pool club priced at 56x earnings? The team breaks down one of the strangest listings they've ever seen—and tries to make sense of it.

Business Listing – https://murphybusiness.com/business-brokerage/detail/21225/popular-swim-club-for-sale/

🛠 Sponsored by Capital Pad and Viso Business Capital

Capital Pad: A marketplace connecting acquisition entrepreneurs with investors. Standardized terms, streamlined investing. Learn more: https://www.capitalpad.com

Viso Business Capital: Get the best SBA loan for your acquisition. Sign up for Heather's free weekly Q&A: https://www.visocap.net

In this episode, Michael, Heather, and guest co-host Travis Jamison of Capital Pad dissect a wildly overpriced swim club listing in New Jersey—priced at 56 times earnings. They dig into the real estate angle, the potential (and limitations) of seasonal community clubs, and the headaches of financing a business with minimal cash flow. Along the way, Travis shares updates on Capital Pad, Heather dishes out some New Jersey trivia, and the crew debates whether the worst listings hide the best opportunities.

Key Highlights:

• A deep dive into a New Jersey swim club priced at $3.75M with just $67K in earnings.
• Why bad listings might actually hide great deals—sometimes.
• Real estate vs. business value: when property worth overshadows cash flow.
• Heather and Travis talk investor/sponsor matchmaking via Capital Pad.
• Financing challenges for low-earning, high-asset deals.
• Lifeguard war stories, Jersey Shore property trivia, and more.

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This Med Spa in San Antonio Looks Great—But One Location Might Be Holding It Back...

Business Listing - https://www.bizbuysell.com/business-opportunity/leading-multi-site-med-spa-franchise-with-high-margins/2345553/

Huge thanks to Connor Groce for bringing this deal to the pod!  Always great having you on, and this one was a masterclass. For more information or to connect with Connor head to connorgroce.com.

🚨 Episode Sponsors

📈 Acquisition Lab — Thinking about buying a business but don’t know where to start? Walker Deibel’s Acquisition Lab has the tools, resources, and community to help you navigate your acquisition journey. Start today: https://www.acquisitionlab.com/

💸 Viso Business Capital — Need an SBA loan? Heather's firm works with 30+ lenders to get you the best terms with less hassle. Sign up for a free Q&A session here: https://visocap.net (click Zoom Signup in the top right corner)

In this episode, Michael, Heather, and Connor dissect a $4 million multi-site med spa franchise based in San Antonio, Texas. With two operating locations and a third territory for expansion, this business is riding the aesthetics wave—but is it all smooth Botox or are there some unsightly bumps? The team dives deep into the dynamics of injectables, recurring revenue, regulatory hurdles with MSOs, and why this could be a tricky deal despite high-level metrics. This one's packed with insights into the rapidly evolving med spa industry.

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In this episode, the hosts dive into a salon suite franchise deal in the beauty industry — and why they ultimately gave it a thumbs down.

Thank you to this episode's special guest Connor Groce. To connect with Connor head to: https://www.connorgroce.com/

Business Listing - https://www.bizbuysell.com/business-opportunity/roi-immediately-3-salon-suite-franchises-in-the-ny-tri-state-area/2349645/

Sponsors:
🔹 Inzo Technologies - Get a complimentary IT audit for your acquisition with Nick Akers at Inzotechnologies.com.
🔹 Capital Pad - The marketplace for buying small businesses and raising capital. Learn more at CapitalPad.com.

Episode Description:
In this episode, the Acquanon team reviews a deal for three salon suite franchises located across the New York Tri-State area. While the concept of a passive, real estate-light business in the beauty industry sounds appealing, the hosts dig deeper into the financials, occupancy risks, personal guarantees on leases, and the high asking price. They break down why the deal, despite some attractive aspects, ultimately didn't meet their investment criteria.

Key Highlights:

- Overview of the salon suite franchise model
- Why occupancy is critical to profitability
- Risks of relying on weekly-paying, potentially flaky tenants
- The hidden dangers of personal guarantees on leases
- Why the asking price relative to cash flow made the deal unattractive
- Discussion about franchisor support (or lack thereof)
- How fixed costs create revenue durability risks

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In this episode, the hosts dig into a glass business in coastal South Carolina that’s stable, cash-flowing, and comes with real estate—perfect for a buy-and-hold acquisition.

Business Listing - https://www.loopnet.com/biz/business-opportunity/established-glass-business-in-growing-blufton-sc/2345451/

🎯 This episode is sponsored by:

Inzo Technologies – The IT partner made for searchers, by a searcher. Get a complimentary IT audit for your target business at https://www.inzotechnologies.com or email Nick directly at [email protected].

Capital Pad – The marketplace connecting acquisition entrepreneurs with capital. Whether you’re looking to raise or invest, visit https://www.capitalpad.com

The hosts evaluate a rare, straightforward acquisition opportunity—a custom glass contractor based in Bluffton, South Carolina. With $500K in cash flow, a strong reputation, and real estate included in the $2.7M asking price, it’s a dream deal for a buyer who wants a stable lifestyle business. They discuss how this company serves residential and commercial clients, the regional growth around Hilton Head, the operational nuances of glass contracting, and why this is one of the more “boring is beautiful” deals they’ve seen. Plus, they break down how scale may or may not make sense in this space and touch on challenges with competition and geographic expansion.

🔑 Key Highlights:

- Overview of a $2.7M glass business with $500K in cash flow
- Includes $700K of real estate and fully equipped vehicles
- Operates in the fast-growing Bluffton/Hilton Head region
- Strong candidate for SBA financing and owner-operator model
- Discussion of the fragmented nature of the glass contracting industry
- Why this isn’t a roll-up play, but a solid buy-and-hold asset
- Comparison of glass contracting vs. other home service industries
- Review strategy, competitive landscape, and geographic challenges

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This week, the Acquanon crew dives into a $10M revenue sauna and cold plunge e-commerce business — but is the heat already fading on this high-ticket trend?

Sponsors:
💸 This episode is sponsored by Capital Pad — the go-to marketplace for connecting acquisition entrepreneurs with investors. Whether you're buying a business or want to back someone who is, Capital Pad streamlines the entire process. Check them out at https://www.capitalpad.com

🧠 Powered by Acquisition Lab — founded by Harvard MBA Walker Deibel, the Lab helps aspiring business buyers navigate search, diligence, and acquisition with expert support and community. Head to https://www.acquisitionlab.com

In this episode, Michael, Heather, and Bill analyze a dropshipping business doing $10M in revenue with $1M in EBITDA, focused on premium home saunas and cold plunges. With growing consumer interest in wellness and longevity, the panel debates whether this high-ticket e-commerce model has staying power or if it's already on the downslope of a health fad. They also explore dropshipping risk, marketing moats, and the nuances of buyer psychology when purchases top $5,000. Plus, the team reflects on tariffs, moats, and even Peloton culture in a classic Acquanon blend of laughs and insight.

Key Highlights:

• A breakdown of a $10M sauna/cold plunge e-commerce brand asking 5x EBITDA
• Challenges and risks of dropshipping large, high-ticket items
• Whether this wellness niche is a lasting trend or already peaked
• Insights on customer acquisition for $5K+ products
• Could AI play a role in considered purchases?
• Why SBA lenders might think twice about funding this deal
• Romanticizing capitalism, one sauna sale at a time

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A $7M bouncy house and carnival rental business in Georgia—genius niche or inflatable insanity?

Business Listing - https://www.bizquest.com/business-for-sale/incredible-business-opportunity/BW2346015/

🎙️ This episode is sponsored by:
👉 Inzo Technologies – IT services tailored for small business buyers. Get a complimentary IT audit: https://www.inzotechnologies.com/
👉 Capital Pad – Invest in or raise capital for small business acquisitions. Start here: https://www.capitalpad.com/

This week on Acquisitions Anonymous, Michael, Bill, and Mills dive into a surprisingly profitable business in a notoriously low-margin space—bouncy house and carnival ride rentals. Operating out of Lawrenceville, Georgia, this $7 million asking price business boasts $3 million in assets, over 500 inflatables, 24 carnival rides, and $1.3 million in annual cash flow. The guys dig into the operational model, customer base, and whether the capital intensity justifies the valuation. Is this the Chick-fil-A of carnivals or a seller in over their head?

Key Highlights:

• Breakdown of a $7M carnival rental business listed FSBO
• $3M in asset value including Ferris wheels, inflatables, and zip lines
• Annual net income of $1.3M from repeat B2B customers like schools and churches
• Discussion of CapEx-heavy businesses and how they impact valuation
• Exploration of potential growth into traveling pop-up models like “Big Bounce America”
• How self-represented sellers can lose buyer confidence
• Valuation insights: 3x cash flow + asset-heavy business = tricky deal
• The guys’ take on recession resistance and customer loyalty
• Importance of understanding tail risk and bounce house insurance

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A thriving Florida comedy club hits the market—does the $3.5M asking price make any sense?

Business Listing - https://www.bizbuysell.com/Business-Opportunity/thriving-comedy-theatre-business-in-south-florida-prime-location/2317650/

Sponsors:
⚡️ Sponsored by Acquisition Lab. Ready to buy your dream business? Get hands-on support, expert guidance, and a powerful network to accelerate your acquisition journey. Schedule your free consultation today at https://www.acquisitionlab.com/. Be sure to tell them Acquisitions Anonymous sent you!

💰 Need SBA funding for your next deal? Viso Business Capital helps you secure the best SBA loans with less hassle. Sign up for a free Q&A session at https://visocap.net and click "Zoom Signup" in the top right.

In this episode, Michael and Chelsea dig into a unique listing: a thriving comedy club in South Florida with over $750K in cash flow and a $3.5M price tag. The business boasts a full liquor license, a 300-seat venue with all-new chairs and tech upgrades, and a 10-year lease—but does it justify the steep multiple without owning the real estate? The duo debate the hidden risks, potential upside, and what kind of buyer this business would actually be perfect for. It’s a deep dive into what it really means to buy a bar-with-a-stage in a strip mall.

Key Highlights:

🏢 Business Overview: Comedy club with $3M in annual revenue, $750K cash flow, asking $3.5M

🍸 Core Revenue Drivers: Liquor sales and ticket splits—not the acts themselves

📉 Real Estate Concern: Business doesn't own the property, raising questions about valuation

🤝 Booking + Promotion: Importance of talent relationships and email list ownership

📈 Competitive Landscape: Competing with national chains and music venues for comedy talent

🪑 Asset Value: What are you really buying—just some new chairs and a video wall?

🧠 Buyer Fit: Why this deal might be a dream—or a nightmare—depending on the operator

⚠️ Deal Risk: Low barrier to entry and possible overvaluation make this a tough sell

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Ever wanted to own a business that involves helicopters lifting HVAC units onto skyscrapers? This week's deal might be your dream.

Business Listing - https://synergybb.com/listings/established-helicopter-installation-company-in-mo/

This week’s episode is sponsored by:
🚀 Inzo Technologies — Need IT help when buying a business? Get a free IT audit for your target company from a fellow searcher. Learn more at https://inzotechnologies.com or email Nick directly at [email protected].

💼 Acquisition Lab — Your fast track to buying a business with expert guidance, resources, and a like-minded community. Learn more and schedule your free consultation at https://www.acquisitionlab.com (Mention Acquisitions Anonymous when you reach out!)

Website: https://www.acquanon.com/
Twitter: https://twitter.com/acquanon

✉️ Subscribe to our Newsletter and get more deals like this every week: https://www.acquanon.com/newsletter

🔔 Subscribe to Acquisitions Anonymous: https://www.youtube.com/@AcquisitionsAnonymousPodcast?sub_confirmation=1

🎧 Listen to our full episodes on your favorite podcast platforms: https://www.acquanon.com/episodes

Episode Summary:
In this episode, the hosts dig into a truly unique acquisition opportunity — a helicopter installation business in Missouri specializing in lifting heavy equipment like HVAC systems onto commercial rooftops. Listed at $13.9 million with $6.6 million in revenue and $3 million in cash flow, the business comes with its own fleet of helicopters and parts inventory. They discuss the operational complexities, geographical limitations, capital intensity, and potential buyer fit for this niche business. Is this a dream opportunity or a nightmare in disguise? Tune in to find out.

Key Highlights:

• $13.9 million listing price with $3 million cash flow.
• Business uses helicopters to install heavy equipment like HVAC systems.
• Located in Missouri, with geographic advantages and limitations.
• Assets included: $3 million worth of helicopters + $1.5 million in parts.
• Discussion on market niche, competitive moat, and barriers to entry.
• Ideal buyer profile: Local connections, logistics expertise, potentially ex-military helicopter pilot.
• Exploration of growth opportunities and operational risks.
• The value (and challenge) of buying a capital-intensive, niche service business.

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This week the team breaks down a 19-year-old e-commerce surfing accessories business with $3.4M in revenue and $315k in profit — but is the $1M asking price plus $1.5M in inventory worth it?

Business Listing - https://synergybb.com/listings/established-helicopter-installation-company-in-mo/

Sponsors:
⚙️ This episode is sponsored by Inzo Technologies — IT solutions built specifically for small businesses and acquisition entrepreneurs. Get a complimentary IT audit of your target business at: https://inzotechnologies.com or email Nick directly at [email protected].

💸 This episode is also brought to you by Capital Pad — the marketplace connecting acquisition entrepreneurs with investors. If you're looking to raise capital or invest in small businesses, visit: https://capitalpad.com

Episode Description:
In this episode, Bill D'Alessandro, Heather Endresen, and Mills Snell dig into a fascinating 19-year-old e-commerce business selling surfing accessories. With $3.4M in revenue, $315k in profit, and a $1M asking price (plus a whopping $1.5M in inventory), the team debates whether this old-school online retailer is a smart buy or a capital trap. They discuss Amazon dependence, inventory consignment strategies, growth opportunities in marketing, and the risks of low-margin e-commerce models. This is the quintessential e-commerce deal breakdown!

Key Highlights:

• Overview of the 19-year-old surfing accessories e-commerce business
  
  
• $3.4M revenue with $315k in EBITDA
  
  
• The challenge of $1.5M in inventory and low margins
  
  
• Why consignment inventory might be essential to closing this deal
  
  
• Breakdown of Amazon vs. DTC revenue mix
  
  
• Marketing opportunities: email lists, Meta audiences, SEO
  
  
• Risks of thin-margin resellers vs. owning your own products
  
  
• Financing challenges with SBA lenders and consignment inventory
  
  
• How lifestyle businesses create opportunity for acquisition entrepreneurs
  
  
• Bill’s real-world insight on consignment deal structures

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A legal consulting firm for expert witness placement sparks debate among the hosts and special guests from Harvard Business School—would you buy it?

Business listing: https://thefirmadv.com/Listing/Expert-Witness-Prep-Placement-for-Law-Firms-For-Sale

Thanks to our amazing sponsors this week!
💼 Capital Pad - Your go-to marketplace to raise capital or invest in small business acquisitions. Check it out at https://www.capitalpad.com

💰 Viso Business Capital - Get SBA financing that fits your deal. Sign up for a live Q&A session at https://www.visocap.net and click “Zoom Sign Up” in the top right corner.

In this episode, Mills and Heather are joined by Royce and Rick from Harvard Business School and the “Think Big Buy Small” podcast to break down a unique legal consulting firm focused on expert witness placement and trial prep. 

Check out the podcast here: https://podcasts.apple.com/us/podcast/think-big-buy-small/id1751989991

Despite strong profit margins and remote operations, this business raises flags due to its project-based revenue, uncertain customer loyalty, and a hefty valuation. The crew explores whether this is a deal worth pursuing—or passing—and what kind of buyer might actually make it work.

Key Highlights:

• Breakdown of a $1.3M cash flow legal consulting business listed for $6.15M
• Discussion around project-based revenue and lack of recurring customers
• Royce and Rick share insight from years teaching ETA at Harvard Business School
• What kind of buyer would make this work (and how a strategic fit could help)
• Buyer fit, sales process, and the importance of niche expertise
• Why this business might be overpriced and what a reasonable multiple looks like
• The importance of understanding what a teaser really says (and doesn’t)

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