Business Buying Strategies from The Dealmaker's Academy

Business Buying Strategies from The Dealmaker's Academy

By Jonathan Jay Business Buying ExpertBusinessEntrepreneurshipEducationSelf-Improvement
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Business Buying Strategies from The Dealmaker's Academy episodes

  • 35 business acquisitions in 3 years

    In the latest episode of Business Buying Strategies, we speak with serial business buying entrepreneur Darren Jacobs who has bought 35 business in the last three years.

    Despite the rapid growth of his business, Darren does not spend any time working in the businesses he acquires. He leaves it to his management team, freeing him up to work on his growth strategy which is – buying more businesses.

    In this episode, he reveals why he first chose hair salons as a target for his acquisitions, how he closed so many deals so quickly and how his group head office operates to allow him the time and space to grow the business.

    Darren also reveals his future growth plans and why he has expanded the business through acquisition to include marketing and food.

    Here are the key highlights:

    01:24 – Darren explains his business buying journey so far

    02:20 – How a surprising offer to buy a coffee van led to Darren's first catering acquisitions

    04:28 – How Darren's IT background and attempts to grow his business have shaped his acquisition strategy

    05:21 – How Darren identified and sourced his first acquisition deal for a salon

    07:35 – Why hair salons became a target for Darren's acquisition strategy

    11:45 – What motivates a salon owner to sell? (Hint: the answer isn't always money…)

    18:36 – How Darren built his management team and how his group head office runs the business

    20:12 – Why Darren has started making acquisitions in a different sector

    23:46 – What does the future hold for Darren in 2024?

    31:05 – Darren answers common questions levelled at business buyers

    In this episode of Business Buying Strategies, you will discover…

    • How Darren used the (true) story of searching for a hair salon for his step daughter proved deal sourcing gold
    • What he learnt from the first acquisition for his step daughter that convinced him to forge ahead with building a hair salon group
    • Why understanding the buyer's motivation for selling is key to a great deal
    • Why every deal except one were for businesses that were not listed for sale
    • How the group head office is set up to manage the 120+ staff across the group without any involvement from Darren
    • How Darren leveraged government funding to complete multiple "no money down"deals
    • Why Darren has broken the mould when buying smaller businesses, i.e. hair salons
    • How he is able to take months off and only needs to turn up at board meetings every month
    • The exact number of deal sourcing letters Darren sent out to generate 300 enquiries and complete 21 deals (this number will shock you)
    • How only two out of his 35 acquisition have required Darren to use his own money (it was just over £10k and he made it back within weeks of closing the deal)
    • Why money is not the most important factor for many business owners who are motivated by others factors
    • Why Darren has acquired two marketing agencies and a printing firm to support the group
    • How he successfully saved £110,000 on a deal for a sandwich van business turning over £250,000/year
    • Why his experience in business acquisition allows Darren to 'flex' the rules

    Memorable quotes from the episode

    "I've not met any business owner that is not optimistic about next year."

    "The most powerful thing you can ever do in any negotiation is know that you can walk away and say no and mean it."

    "When I look at a business, if it creates any kind of job or responsibility for me then I'm not interested, no matter how good the deal is."

    ** Looking for a great acquisition lawyer in the UK? Use mine! **

    If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected].

    Ready to get started?

    Here's how you can start your business buying journey…

    Watch my FREE Dealmakers webinar training:

    https://www.dealmakerspodcast.com

    Get a FREE copy of my book:

    https://www.thedealmakersacademy.com/free-book-giveaway

    Join the Business Acquisition FastTrack course

    https://www.thedealmakersacademy.com/quick

    Already bought a business?

    if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on [email protected] for more information.

    51 min
  • The Life Changing Deal

    Every week I interview someone from the world of mergers and acquisitions so we can find out their approach to buying businesses.

    On this week's episode, we are going to meet Dan Bown. Dan Bown is one of my Mastermind clients, and when he came on Mastermind, he wasn't entirely sure which type of business to buy.

    He's settled on plant hire, and has just done his first eight figure acquisition. In this episode, we'll find out how he did it.

    Key Highlights

    [01:10] Dan introduces himself and his career before becoming a dealmaker [04:16] Dan talks about how he came to join Jonathan's Dealmaker programme [05:28] Dan outlines the first sectors he considered [08:21] Dan describes his process for shortlisting companies to approach [10:08] Dan's first, and only, initial response [11:05] The negotiations to agree a deal to buy the business [12:57] The deal seems to fall apart [14:26] The deal is back on! [17:57] Finding the right lender [21:16] Getting to Heads of Terms [25:38] The deal gets over the line [27:18] Dan's competitors [31:26] Learning quickly about vacuum excavation [32:24] Establishing where to cut costs [37:44] The effect of further acquisitions [41:11] The future pipeline [46:39] Plans for readying the business for a future sale

    Notable Quotes

    I looked back at what I'd enjoyed most in my career. And the thing I'd enjoyed most was the cut and thrust of running what I would call a proper business, which I'd done for DHL in Romania, a big turnaround and a big growth project.

    So my criteria was, I just wanted to buy a business where I'd earn a decent salary, something matching or close to what I was getting in corporate life.

    So I sent the letters out to 400 businesses, and I got one reply, which was the business I bought.

    And I suppose the lesson from that is, yes, the experts help you, your deal team helps you, but you've also got to help yourself.

    Resources

    Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on [email protected] for more information.

    If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected].

    If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk

    Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk

    You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/

    If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast

    Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

    52 min
  • 100% Deal Finance - An interview with Daniel Beaumont

    Every week I interview someone from the world of mergers and acquisitions so we can find out their approach to buying businesses.

    This week we meet my mastermind client, Danny Beaumont, who has bought a number of manufacturing businesses without spending a penny of his own money. Plus he only works ten hours a week and spends twice a week playing golf. Here's Danny in front of a live audience at one of our DealMaker Live events.

    Key Highlights

    [01:14] Danny discusses his career before business buying [03:40] Choosing a sector [07:40] Danny's role in the business [08:30] The first deal [12:16] The next deal [15:22] The role of a parent company [18:56] The retirement acquisition [20:17] The size of the business you buy [22:09] The easiest deal so far [28:25] Establishing a group [33:40] Audience Q&A

    Notable Quotes

    We monitor our pipeline, how big it is in total, our win rate. So even if we have a quiet month in order intake, if we're quoting loads then a certain number are going to come straight.

    They said, well, we've got an invoice filing facility, but I've never fully utilised it. I thought, oh, that's interesting, because we could potentially use some of that to buy the business

    I said, sorry Jim, but the deal's not going ahead so I can't offer you a job. And he said, well the guy I'm working for now is thinking about getting out, so how about I put you in touch?

    Resources

    Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on [email protected] for more information.

    If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected].

    If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk

    Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk

    You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/

    If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast

    Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

    1 hr 2 min
  • 17 acquisitions to £20 million turnover

    Every week I interview someone from the world of mergers and acquisitions so we can find out their approach to buying businesses.

    This week we go behind the scenes of July 2023's Dealmakers Live event held just outside London.

    I talk with David, who was on my mastermind program back in 2019. David bought seventeen businesses, built the business group up to over £20 million of annual revenue, and he's just done a deal selling it for an eight figure sum. This is his story and how he did it.

    Key Highlights

    [01:29] David's background [02:46] David's first acquisition [05:19] Discovering the podcast and joining Jonathan's programme [06:52] Learning from others on the programme [09:07] Building his management team to enable him to focus on new acquisitions [12:05] Approaching a big corporate [14:45] Negotiating the sale [16:40] How David filters potential acquisitions and builds his pipeline [22:27] David's advice for new dealmakers [25:25] Looking to the future

    Notable Quotes

    And I drove many miles up and down the motorway, because I was the integration guy, I was the IT guy, I was the chief exec, I was the HR director. So your knowledge, your skillset and your confidence level have got to stay in line. I discovered Jonathan's podcast and started episode one and just listened for hours and hours on the motorway. And it was like the scales had been peeled from my eyes. Learning from other people on the mastermind group allowed me to do 14 more acquisitions over the course of three years.

    Resources

    Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on [email protected] for more information.

    If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected].

    If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk

    Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk

    You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/

    If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast

    Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

    28 min
  • I acquired two businesses just to see if the process worked!

    Every week I interview someone from the world of mergers and acquisitions so we can find out their approach to buying businesses. This week I talk with Hari Krishnadasan, one of my mastermind clients.

    Hari bought a business a few years ago, but didn't actually realize that it was going to be his strategy going forward. And when he bought two more businesses during the COVID period, in a completely different sector to the one that his background and experience is in, he realised that business acquisition was the right strategy for him.

    This is his story.

    Key Highlights

    [01:26] Hari's background [03:35] The first acquisition [[05:12] The effects of Brexit and COVID [05:50] Finding Jonathan and discovering a different approach to M&A [08:36] Choosing an entirely new sector [13:02] Plans for the future [19:18] Hari's advice for would be dealmakers

    Notable Quotes

    I'd say do something that interests you and that you've got some knowledge of, because if you've got no interest in it, I don't think it'll work. You've got to have a passion to go for it, to follow the process

    it's really a completely different way of doing things - you've got to work on the business, not in the business.

    So it's almost like people have to hear it multiple times before they go, Oh, right, so this is real.

    And I just thought, well, look, let me diversify and look at something completely different.

    Resources

    Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on [email protected] for more information.

    If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected].

    If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk

    Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk

    You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/

    If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast

    Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

    22 min
  • M&A For Dummies - Interview with Bill Snow

    Every week I interview someone from the world of mergers and acquisitions so we can find out their approach to buying businesses. This week I talk with Bill Snow, author of M&A For Dummies, one in the famous yellow series of books.

    Business Buying Strategies is the leading podcast for people who want to buy a business. Each week I interview deal makers who've been on my business acquisition Mastermind program and find out about their deals and behind the scenes of their acquisitions. If you want to know how to get started in mergers and acquisitions, then take my free online course.

    You can find it at www.dealmakerspodcast.co.uk

    Key Highlights

    [01:33] Bill Snow introduces himself

    [03:10] Working on the sales side for an investment banker

    [06:26] Bill's dummies approach to buying a business

    [11:22] Going direct to the seller

    [13:30] Bill's favourite negotiating approaches

    [19:43] Profitability vs perceived value

    [22:05] The strategic imperative

    [25:01] The perfect company?

    Notable Quotes

    It is hard to stand out as a buyer. You got to realize everybody is saying the same thing. So if you really want to buy a company, you got to realize how much competition you have when you're buying a company Use your personality because a big part of winning these mandates is the personality. Pay attention to the working capital in the business and what's going on with the working capital, understand what you're acquiring.It's the take it or leave it. It's not thinking through what the other side might react to or what they might respond

    Resources

    Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on [email protected] for more information.

    If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected].

    If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk

    Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk

    You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/

    If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast

    Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

    31 min
  • 21 acquisitions in less than a year

    This week we meet Darren Jacobs, who since joining my business buying courses has bought a total of 25 businesses in just eight months. He's already sold four of them and has an ambitious target to do 100 deals.

    Darren bought his first salon for his daughter, a qualified hair stylist, in May 2020. But when he started sending enquiry letters out, he quickly built a pipeline of potential acquisitions.

    Business Buying Strategies is the leading podcast for people who want to buy a business. Each week I interview deal makers who've been on my business acquisition Mastermind program and find out about their deals and behind the scenes of their acquisitions. If you want to know how to get started in mergers and acquisitions, then take my free online course.

    You can find it at www.dealmakerspodcast.co.uk

    Key Highlights

    [01:47] Why the switch from IT group to salons?

    [05:50] The criteria for selecting salons to buy

    [07:40] Opening twenty salons at once after lockdown

    [10:50] Financing the acquisitions

    [16:45] Motivations for salon owners to sell their business

    [18:35] Overview and structure of the salon group

    [21:05] What has Darren learned?

    [25:40] The acquisition strategy moving forward

    Notable Quotes

    In comparison to buying an IT business, buying a hair salon was ridiculously easy. In June 2020 we sent out a bunch of letters, about 1500. We had just over 300 people contact us from them. We've had to do a lot of work on consolidation and integration. I tell people that we've got a lot of salons, we're not that interested in buying many more at the moment, but if it works for us, we'll take a look at it.

    Resources

    Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on [email protected] for more information.

    If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected].

    If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk

    Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk

    You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/

    If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast

    Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

    30 min
  • Jo Bell's first 5 acquisitions

    In this episode, Jo Bell joins us to talk about her business acquisition journey and the lessons that she has learnt. We talk about how being a doer impacts the business and how it can affect your next acquisition. Jo explains that looking at deals as pure numbers can be extremely helpful when you are not sure what a business is worth. She also discusses some of the ways sellers sometimes lie about deals or place too much emphasis on things that really don't matter in terms of pricing your business correctly. Jo also shares some words of advice to potential business buyers.

    Key Highlights

    [01:42] Jo's interesting business acquisition

    [02:38] Impacts of being a doer in the business

    [09:04] Do you feel that people believe in you?

    [10:20] Driving the business and getting onboard with the structure

    [11:51] Buying the perfect business

    [12:34] What was the next deal?

    [15:09] Perfect way of earning money without spending yours

    [20:51] Business sellers fabricating customer lists

    [23:03] What business buyers should look for when buying a business

    [24:12] Seeing deals in factual numbers

    [27:27] Balancing positive personalities and realities of business buying

    [31:40] Things that business sellers don't tell you

    [32:53] How do you keep yourself positive

    [37:06] Advice to people thinking of buying a business

    [40:25] Bell's next plans

    Notable Quotes
    • I think learning for me is just to do a lot more due diligence actually because I think, where I'd always gone for the model of buying goodwill and assets, not companies, I didn't see the need to do as much goodwill.
    • Over the years, I've become a lot more selective; you know, I've realized that there are a lot of practices out there for sale and many businesses for sale. And it's more about the ones who say no than the ones who say yes, whereas maybe previously, I just saw everything as an opportunity.
    • You know, I'm a fixer. So I enjoy the challenge of fixing something, but you then have to question why, you know, when there's stuff there that doesn't need fixing, maybe just needs tweaking or just improving.
    • No matter whether you're buying goodwill and assets or companies do that, due diligence and an accountant can help.
    • So I think, first and foremost, its profitability. That's ultimately the reason why we're all doing this. So you want to ensure that if it's not profitable, now, you sure as hell know how you'll get it profitable.

    Resources

    If you are looking for a lawyer in the UK to help you get the deal over the line, then use my guy, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected].

    If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: https://www.dealmakersvideo.co.uk

    Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk

    You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/

    If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast

    Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

    43 min
  • Two acquisitions while working full time

    In this week's episode, Jonathan Jay interviews Phil Hunt, a private client who recently acquired two hairdressing salons using the strategies learned from the Dealmakers Academy program. Phil, an HR director in a bank, wanted to move away from full-time employment and found Jonathan's program the perfect solution. He shares how the program gave him the confidence and tools to approach acquisitions and completed two deals quickly.

    The episode dives into Phil's experiences negotiating with sellers, using creative funding techniques, and building relationships to make the deals happen. With his successful start, Phil discusses his plans to grow the group and potentially move into other sectors in the future.

    Key Highlights

    [00:50] How Phil's first acquisition came about

    [03:51] Key insights that Phil had while participating in the Fast Track program

    [05:00] Some of the conversions that Phil has had while deal sourcing

    [08:20] The conversations that Phil had before landing the perfect business

    [11:25] How Phil undertook the deal

    [12:25] How Phil negotiated with the landlord

    [14:05] How the second deal happened

    [16:32] Benefits of having a sounding board

    [18:13] Phils plans for the future

    [21:21] How Phil navigates varying levels of perfectionism between his HR role and business acquisitions

    [22:12] What happens next after the successful exit arises

    [24:04] Phil's words of wisdom to people interested in buying a business

    Notable Quotes
    • Just do it. Just go out there and do it. What on earth have you got to lose here? And there's nothing you can lose effectively as that.
    • I think, and you've said it, you said on your course, it's about people, it's about building a relationship with the vendor, and they need to trust you, and you need to trust them. And if you can't build that, the deal won't happen. But if you can, they find a way to make the deal happen.
    • Don't sweat the details. It doesn't matter if the letter's not perfect or the address is slightly wrong, there'll be 95 of the hundred that are correct, and a number of those will ring you.

    Resources

    Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on [email protected] for more information.

    If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected].

    If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk

    Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk

    You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/

    If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast

    Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

    27 min
  • Lucrative opportunities in the coffee retail sector

    In this episode, Jonathan Jay interviews John Richardson, an expert in the coffee shop sector. John has been involved in numerous coffee shop acquisitions and in building coffee shop chains through acquisition. They discuss the current state of the coffee shop market, particularly following the pandemic, and the differences between business owners and entrepreneurs in this industry.

    John highlights the opportunities in neighborhood coffee shops and the potential for community-centered coffee shops with added services like yoga classes or meeting rooms. They also explore the importance of having clear processes and management systems for successful growth in this sector. The episode concludes with John offering valuable advice for those considering buying a coffee shop business, emphasizing the need for careful analysis and understanding the complexity of running a coffee shop effectively.

    Key Highlights

    [00:50] About John Richardson and what he does

    [03:02] The distinction between being a business owner and being an entrepreneur

    [03:40] Different approaches for people in the food and beverage businesses

    [05:35] Challenges posed by lease agreements for food business owners

    [08:27] The criteria for a successful acquisition in the food and beverage

    [14:20] Different versions of coffee shops, according to John

    [16:15] Benefits of increasing average transaction value and using add-ons in coffee shops

    [17:19] The exit strategy for someone with a chain of coffee shops

    [21:58] The importance of creating and following processes in business

    [24:04] John's words of wisdom for people looking to invest in the coffee industry

    [25:21] What people should know before getting into the coffee industry

    Notable Quotes
    • So you can set the value of a new company that then controls that at whatever level you want. You could set it at a hundred pounds; You could set it at ten grand. And then all the new partners come in, and they put in that amount of money. And then, you go to the bank to fill in the rest of the gap as long as one of the original parts pays the partner who's either staying or leaving.
    • It's very hard to fight the ego of more locations because that's just, I can remember when we would get the business cards, and our big excitement was putting more, putting a cringe at it. Now, this is 25 years ago, but the excitement was getting new business cards with your new, with your new location. Yeah. Rather than the excitement of sitting down and going, we are going to have a process for everything.
    • The opportunity is bigger than ever because people will sit in coffee shops. We were doing it 150 years ago. We will do it 150 years today. It'll be slightly different, better coffee, or whatever. And maybe some form of robot stuff will happen in terms of the, but this piece is what it's all about.
    • If you don't know what you're doing, yes, and you think it's going to be easy, don't do it. Or have somebody who genuinely knows what they're doing.

    Resources

    Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on [email protected] for more information.

    If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected].

    If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk

    Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk

    You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/

    If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast

    Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

    28 min

About Business Buying Strategies from The Dealmaker's Academy

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The Business Buying Strategies Podcast comes from The Dealmaker's Academy, the world's leading training on buying and selling businesses - without risking your own money!

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