In this episode of the "Before You Buy or Sell a Business Podcast," host Jared Johnson welcomes Jason Boehning, an HVAC industry professional who has successfully acquired two businesses over a short period.

The discussion delves into the intricacies of acquiring businesses, highlighting Jason's strategic mindset and the unique competitive advantage he enjoys due to his engineering background. This episode offers listeners invaluable insights into the pragmatic approach Jason adopted, which not only involved leveraging his skills but also focusing on relationship-building and effective transition management.

Jason's journey started from a small Texas town and led him to Texas A&M University, where he studied mechanical engineering. His diverse career path in the HVAC industry served as a solid foundation when he made the decisive move to business ownership. Through engaging dialogue, this episode presents a comprehensive look at his process of acquiring and managing HVAC businesses.

Key themes explored include the importance of having a solid plan, the advantages of maintaining good relationships with employees during acquisitions, and the strategic insights driving successful business growth in a competitive market.

• Jason leveraged his HVAC design and engineering knowledge to strategically acquire two businesses, positioning himself effectively in a competitive market.
• Key factors in successful acquisitions include having a solid operational and financial plan and maintaining focus on long-term goals amidst a dynamic business environment.
• The importance of maintaining key employees during a business transition, as these employees often hold valuable customer relationships and operational knowledge.
• Acquiring existing customer bases through business purchases can be a more effective growth strategy than relying on extensive digital marketing efforts.
• Managing working capital efficiently is critical in the HVAC sector due to varying cash flow cycles, especially when dealing with commercial clients.

------------------------------------------------------------------------------

If you have questions for Jared, visit https://jaredwjohnson.com/

DISCLAIMER: The views and opinions expressed in this program are my own and/or those of my guests. They do not necessarily reflect the views or positions of my employer.

Navigating the intricate world of buying and selling businesses can be challenging. Understanding due diligence, valuations, and the right mindset is crucial.

In this episode of the "Before You Buy or Sell a Business" podcast, host Jared Johnson engages Rosco Graves from Polaxis in a deep dive into the nuances of buying and selling businesses.

They discuss the pertinent steps necessary for a successful business acquisition or sale, including crucial due diligence phases. With Jared’s experience as a lender and Rosco’s corporate and entrepreneurial background, the episode exposes valuable strategies to enhance transaction success rates.

Rosco shares his journey from the high echelons of corporate finance to his role in supporting small and medium-sized business owners. This transition equipped him with practical insights into the diligence, financial modeling, and strategic planning required for business transactions.

Rosco and Jared then explore the importance of conducting a quality of earnings report in determining the true value of a business. They outline how even seemingly small improvements in a business's operation or financial status can significantly affect its sale price and buyer interest.

• Conducting thorough due diligence can prevent costly errors in business transactions.
• A quality of earnings report is crucial for accurately assessing a business’s financial health.
• Sellers should proactively prepare their businesses to attract quality buyers and higher valuations.
• Understanding your personal capabilities in business operations can guide a more successful acquisition.
• Building a reliable team of advisors is essential for navigating the complexities of business transactions.

For more information about Rosco, visit: https://polaxis.co/

This episode of the "Before You Buy or Sell a Business" podcast delivers a wealth of information for prospective buyers and sellers aiming to navigate the market efficiently and effectively. For more in-depth insights and practical advice, don't miss listening to the full episode, and subscribe to our series for more valuable content.

🔴YouTube

🟣 Apple Podcasts

🟢 Spotify

______________________________________________________________________

If you have questions for Jared, visit https://jaredwjohnson.com/

DISCLAIMER: The views and opinions expressed in this program are my own and/or those of my guests. They do not necessarily reflect the views or positions of my employer.

"The more parties you get investing in your deal, the less of a chance you're going to buy a bad deal."

In Part 2 of this two-part episode of the Before You Buy or Sell a Business podcast, I talk with SBA loan borrowers about the business they end up buying: an HVAC business.

From initial deal discovery to negotiating terms and finalizing the purchase, this episode provides a thorough examination of each step potential buyers should consider.

This detailed discussion underscores the importance of due diligence and strategic partnership in acquiring a business. Key topics include the evaluation of working capital, understanding the seller's perspective, and leveraging relationships with financial backers like the Search Investment Group.

Pete candidly shares lessons learned, emphasizing the immense value of patience and discipline when analyzing potential acquisitions. Garrett adds depth with his focus on maintaining a conservative approach to financial evaluations, ensuring any deal remains sustainable in long-term.

Key Takeaways:

✅ Involve multiple stakeholders in your deal-making process to avoid poor investments.

✅ Due diligence is crucial in understanding the nuances of potential acquisition, including financial and operational dynamics.

✅ Building relationships with experienced mentors or strategic investors can provide crucial guidance and support.

✅ Negotiating working capital is essential to ensure a smooth transition and stability post-acquisition.

✅ Approach acquisitions with a mindset of adaptability and readiness to tackle operational challenges.

CHAPTERS

0:00 | Introduction

4:52 | Balancing Fairness and Satisfaction in Real Estate Transactions

12:54 | Navigating Working Capital and Cash Flow in Small Businesses

16:17 | The Importance of Due Diligence in Business Acquisitions

17:30 | Deal Structuring Challenges

20:27 | The Importance of Fair Bidding and Building Lender Relationships

23:14 | Building Trust and Navigating Investment Challenges in Business Ventures

27:05 | The Challenges and Rewards of Acquiring and Operating a Business

31:21 | The Adventure of Owning an HVAC Business

In this two-part episode of the  @beforeyoubuyorsellabusiness  I sit down with my borrowers, Peter Hucal and Garrett Johnson, two dynamic entrepreneurs from Wharton who embarked on a journey of Entrepreneurship Through Acquisition (ETA).

Their diverse backgrounds across engineering, project management, social impact, and consultancy have uniquely positioned them for success in the acquisition space. Tune in as they share authentic insights into their professional path and elaborate on the intricacies of navigating such an acquisition in today's market.

Embarking upon a 13-month journey, Peter and Garrett discuss their extensive search for the right business, sharing the trials, errors, and eventual triumphs they encountered along the way. By focusing on core business fundamentals rather than specific industries, they outline how their open mindset towards geographical and sector-based opportunities guided their success. Alongside key strategies for maintaining broker relationships and insights on necessary interpersonal skills, the duo candidly dissects the realities of acquisition, dispelling myths of ease perpetuated by various online narratives.

Stay tuned for part two of this episode for what business Peter and Garrett settled on and the strategic partners they sought out.

Key Takeaways:

• Adopting a flexible strategy in ETA, being open to any industry or geography, can enhance the success rate.
• Building strong relationships with brokers is crucial and can lead to greater success in finding suitable deals.
• The process of finding and acquiring a business is complex and often requires resilience in face of numerous setbacks.

🔴YouTube

🟣 Apple Podcasts

🟢 Spotify

______________________________________________________________________

If you have questions for Jared, visit https://jaredwjohnson.com/

DISCLAIMER: The views and opinions expressed in this program are my own and/or those of my guests. They do not necessarily reflect the views or positions of my employer.

In this episode of "Before You Buy or Sell a Business," host Jared Johnson welcomes Conner Young, co-founder of Kairo Data. The conversation centers around Kairo Data's innovative platform, designed to streamline the process of finding and acquiring small to medium-sized businesses. Conner shares his team's journey from traditional wealth management to solving complex acquisition challenges through proprietary databases and off-market deals.

Conner provides an in-depth tour of Kairo Data's features, explaining how they aggregate business listings from various sources into a single, convenient platform. Users can refine their searches to match their specific acquisition criteria, create custom alerts, and even manage campaigns for off-market leads.

For those looking to outsource the initial stages of their search, Kairo Data offers comprehensive campaign services. The discussion also delves into key considerations for both buyers and sellers, emphasizing transparency and strategic engagement.

• Efficient Acquisition Tools: Kairo Data aggregates listings from multiple sources, streamlining the search process for potential buyers.
• Custom Alerts and Filters: Users can set up detailed alerts and customized buy boxes to focus their searches more effectively.
• Campaign Services: Kairo Data offers an end-to-end solution for buyers, handling outreach and initial vetting of potential sellers.
• Transparent Engagement: Both buyers and sellers are encouraged to be transparent and organized during the negotiation process to ensure a smoother transaction.
• Affordable Access: The platform provides valuable tools at a competitive price, making it accessible to a broad range of buyers.

• Kairo Data Website
• Email: [email protected]

Enjoy this insightful episode to explore how Kairo Data is revolutionizing the acquisition!

______________________________________________________________________

If you have questions for Jared, visit JaredWJohnson.com

DISCLAIMER: The views and opinions expressed in this program are my own and/or those of my guests. They do not necessarily reflect the views or positions of my employer.

Before you buy or sell a business, perhaps you've read "Buy Then Build."

Today's podcast guest, Matt Crowder, talks about how that book set him further down the entrepreneurial path.

Matt, a borrower I worked with, recently acquired Western Stairlifts, a business specializing in home mobility equipment. We explore his transition from a traditional career in the tech industry to full-time entrepreneurship. The guest shares the pivotal moments, challenges, and learnings from both their vending machine business and the acquisition of Western Stairlifts.

From selling snowflakes to technology, from managing a vending machine route to buying a business, Matt provides valuable insight for fellow entrepreneurs.

______________________________________________________________________

If you have questions for Jared, visit JaredWJohnson.com

DISCLAIMER: The views and opinions expressed in this program are my own and/or those of my guests. They do not necessarily reflect the views or positions of my employer.

______________________________________________________________________

CHAPTERS

0:00 | Introduction

9:32 | Helping Utah's Elderly and Disabled with Home Mobility Solutions

12:43 | Acquiring Western Stairlifts and Overcoming Initial Business Challenges

25:51 | Navigating Google Business Profile Challenges and Address Discrepancies

29:58 | Challenges and Triumphs of Running a Small Business

Before You Buy or Sell a Business, be prepared.

That's what today's guest would tell anyone who is looking to buy a business like he did.

I am happy that I got to sit down with George Ayomide, a two-time borrower of mine. George is an ambitious entrepreneur who has made significant strides in the business world. From his early business experience in Nigeria to his successful ventures in the United States, George shares his insights on acquiring and transforming businesses, maintaining effective customer relations, and ensuring seamless transitions.

In this podcast episode, George discusses his first business acquisition, a window tinting and graphic design company in Dallas, detailing the steps he took to evaluate and smoothly transition the company. He elaborates on the importance of preparation and listening to customers, which led to innovative improvements in the business.

A year later, George then moves on to his second acquisition, a well-established company in the automotive industry. He emphasizes the value of having a dedicated team and the significance of setting clear expectations during the business transition.

This episode is filled with practical advice and inspiration for aspiring entrepreneurs and seasoned business owners alike.

______________________________________________________________________

If you have questions for Jared, visit JaredWJohnson.com

DISCLAIMER: The views and opinions expressed in this program are my own and/or those of my guests. They do not necessarily reflect the views or positions of my employer.

Before you buy a business, ask the seller this question, "What are some problems you've dealt with in the last month?"

Keira Hamilton asked that question to the seller before she bought the laundromat that she now owns.

Join me in this captivating conversation with Keira Hamilton, a former educator turned entrepreneur.

We'll delve into the nuances of due diligence, the realities of owning a laundromat, and the transition from real estate to business acquisition. Discover insights on validating business operations, managing employee relationships, and the significance of understanding seller motivations.

Keira shares her personal journey and the learning curve involved in running a successful business. Perfect for aspiring entrepreneurs and those curious about business ownership, this episode is packed with invaluable advice and practical tips!

You can follow Keira on:

LinkedIn | https://www.linkedin.com/in/keirahamilton/

YouTube | https://www.youtube.com/@Keira_Hamilton

______________________________________________________________________

If you have questions for Jared, visit JaredWJohnson.com

DISCLAIMER: The views and opinions expressed in this program are my own and/or those of my guests. They do not necessarily reflect the views or positions of my employer.

Selling a business is no small feat, and it requires astute planning, risk-taking, and timely decisions. Thomas Perkins, a seasoned entrepreneur, recently shared his wisdom on the "Before You Buy or Sell a Business" podcast.

His journey from being a self-employed barber to a successful business owner of a company grossing $3.5 million annually carries valuable lessons for anyone considering embarking on this path.

In this podcast episode, I talk with Thomas about the highs and lows he faced, from managing finances and credit lines to navigating the complexities of selling a business.

Discover invaluable advice for both buyers and sellers, including the significance of long-term financial planning and the importance of ensuring a smooth transition for business continuity. If you're exploring the world of business acquisitions, Perkins' story offers critical insights and practical tips.

______________________________________________________________________

If you have questions for Jared, visit JaredWJohnson.com

______________________________________________________________________

CHAPTERS

0:00 | Introduction

1:49 | From Barber to Business Owner: A Journey of Self-Discovery

8:36 | The Freedom and Challenges of Self-Employment in Sales

9:30 | Overcoming Financial Challenges to Build a Successful Business

13:11 | Becoming the Go-To Vendor for Property Management Needs

26:06 | Ensuring Smooth Business Transition Through Early Collaboration and Financial Support

35:37 | Self-Motivation and Finding Purpose Through Projects

38:28 | The Importance of Ethical Business Handoffs

______________________________________________________________________

DISCLAIMER: The views and opinions expressed in this program are my own and/or those of my guests. They do not necessarily reflect the views or positions of my employer.

Buyers and sellers can be friends, right? Well, what about business partners that work together to scale HVAC businesses?

In this episode of the Before You Buy or Sell a Business podcast, I sit down with Marc Chard and Spencer Satorie of Apex Services dive into their journey of expanding HVAC companies, sharing insights on acquisitions, systems implementation, and management across multiple locations.

From their initial partnership to acquiring multiple companies, they reveal strategies for overcoming challenges, the importance of a solid system, and their growth plans, including adding plumbing services.

Discover how they effectively manage diverse operations and hear their advice for aspiring business owners.

If you're interested in the intricacies of business acquisitions and roll-ups, you won't want to miss this.

📢If you are interested in sponsoring the podcast, reach out to me at [email protected]

CHAPTERS

0:00 | Introduction

5:05 | Business Acquisition and Transition Period Challenges

7:54 | Navigating Business Partnerships and Growth Strategies

11:47 | Challenges and Successes in Acquiring Underperforming Businesses

25:06 | Challenges and Strategies in Managing Multiple Acquisitions

31:19 | Empowering Managers with Trust and Control in Franchise Operations

38:45 | The Challenges and Rewards of Scaling a Business

______________________________________________________________________

If you have questions for Jared, visit JaredWJohnson.com

DISCLAIMER: The views and opinions expressed in this program are my own and/or those of my guests. They do not necessarily reflect the views or positions of my employer.