Business Buying Strategies from The Dealmaker's Academy

In this episode, Jonathan Jay interviews successful entrepreneur Nick Manuel, who shares his journey of buying and building businesses. Nick started his entrepreneurial journey by attending Jonathan's course and listening to this podcast. He explains how he acquired a balloon printing company and turned it into a lead generator for his existing business.

Nick shares valuable insights into his acquisition strategy and the importance of taking action, not overthinking, and focusing on deal flow. He also discusses his plans for further acquisitions and the potential for significant business growth.

Tune in for Nick's business buying journey.

[00:46] Nick's background

[01:49] How Nick undertook his first deal

[03:57] How Nick agreed on the price

[05:59] How John Andrews helped Nick with his first acquisition

[07:05] The benefits of acquiring a business with finance-free assets

[09:53] How Nick knows that he is being realistic with himself

[11:26] How Nick found the upcoming deal

[12:05] Steps followed by Nick to agree on the price

[15:43] Benefits of viewing business acquisitions as strategic opportunities

[16:56] What Nich has learned from being part of the Mastermind Group

[18:38] Benefits of quickly integrating the acquired business into the existing one

[19:29] Nick's word of wisdom based on his experience

[22:19] What has changed from when Nick met Jonathan]

[22:43] Common trait among successful business acquirers

• One thing is getting going and not spending a week thinking about it, not taking a week to think about it. No. And yeah, I suppose being quite aggressive with the negotiation and your terms. If they're that desperate, it's your terms, or you walk away, that's it. There's no messing around with their comebacks on not wanting certain warranties and things in the contract.
• You have to enjoy the process. Like you say, what's the worst thing that can happen? And once you start doing it, you realize it's not scary. It's fun. You have to get on and do it.
• As you grow, putting a solid team in place is the main thing. And I suggest trying and scribbling on salaries sparingly because you want people coming in from where you want to be, not where you've been.
• The main stumbling block I had originally was around the letters and overthinking. You've got to start sending them out. Yes, they have a cost to them, but you've only gotta find one deal, which is completely irrelevant.
• You can be the visionary, the leader, and the guy that goes out finds the deals, and needs someone behind you who's, uh, implementer. But you can hire that person, pick up the pieces, and do all the operations. Yeah. I couldn't do what I'm doing now at the size I'm doing it if I was doing it myself. I just couldn't.
• I remember sitting there like you guys when I was sitting there, and you just go away, send the letters out, and have the conversations. Some people put the phone down, and some won't, and then you just end up laughing, and you just go out there and take action first, and the rest will fall into place.

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

In this episode, Jonathan Jay interviews Sam Turner, a former professional footballer turned dealmaker. Sam shares his journey from a successful corporate career to his decision to buy businesses. He explains how he found his first acquisition through networking and discusses the importance of credibility and clear focus in the acquisition process.

Sam emphasizes his philosophy of maintaining autonomous business units within a group and avoiding trying to oversimplify back-office synergies.

[00:44] Sam's background

[04:34] What Sam did after the Zoom course

[07:34] Factors to consider when deciding on the type of business to buy

[09:14] The role of credibility in a business venture

[12:14] How Sam undertook his first deal

[14:00] How networking can aid in getting deals

[15:20] Time frame between first contact with the business owner to owning it

[18:40] How Sam got access to a lender

[22:14] How too many changes can lead to a decline in the value of a business

[24:05] Sam's plan for the future

• In the beginning, when you haven't done this for the first time, there is a credibility piece that is helpful to have somebody.
• Whether there's that, there will be best practices and stuff, but I'm not going to, probably not at least at the beginning, or let's merge all the back offices together. We may end up going down that road, but it will be because of a discussion with each of the sort of balances and the business.
• The money is secondary to me, and I also have very clear plans of what I would do with that to help others. But I think there is a great opportunity you have to work out whether it's for you or it's not. And if it is, then go for 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

In this episode, Jonathan talks with Richard Bundock, a successful entrepreneur who shares his journey of buying and growing businesses. Richard's story begins with his early entrepreneurial ventures, when he sold stick-on tattoos at school. He recounts his experience making three successful acquisitions, detailing the differences between asset and share purchases.

Inspired by his success, Richard plans to make around 18 more acquisitions to become one of the top five independent agency groups by 2026. He encourages listeners to take risks and push forward in their acquisitions, reminding them that time is precious and that they should seize opportunities to create positive change.

[00:44] Richard's background

[01:21] How Richard got into entrepreneurship

[02:53] The nature of organic growth

[04:46] The sector that Richard specializes in

[06:24] The most stressful deal for Richard

[09:46] The difference between asset and share purchase

[11:36] Richard's plan for the future

[15:30] The commonalities learned from fellow entrepreneurs

[16:18] Advice to people interested in buying a business but have not made the first step

• I think the main thing is that you have to kiss a lot of frogs before you find your prince, which is the classic thing.
• You got to put the work in to get the result. And we've done that. And we've made three acquisitions this year; that has been something that has turned things around.
• I think sitting around and talking in a group appears with others that have made acquisitions as well. You start to realize that the only thing holding you back is yourself.
• Doing a good acquisition is feasible. It's just how hard you are prepared to push and work to get that done.
• I think they need to get an uncomfortable fence because they're too comfortable sitting on that fence. They put cushions on it and everything, and they need to get a little bit uncomfortable. And they need to realize that if they're sitting on the fence, stuff is just happening around them, and they're not going to move forward, they're not going to get anywhere because they're going to stay on that fence.

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

This week Jonathan talks with Akram Abdullah, who started a successful insurance brokerage with his brother, fell out of love with it, and sold it. Then, in the space of just eight months he acquired a commercial cleaning business, fixed it, and then sold it to the manager he had recruited to run it for him.

[01:05] Akram talks about his career to date

[01:48] Deciding to sell his insurance broker business

[03:30] Deciding to acquire a business rather than start a new one

[04:20] What sort of business was Akram looking for?

[06:00] The first meeting with the seller

[07:20] How the negotiations for the deal went through

[12:30] The fixes that were needed

[15:40] Selling the business on

[20:20] Tips and advice for would-be business buyers

• And then all of a sudden I've got a business and this recurring revenue that I had been so interested in, I could now see it coming through.
• The most important thing is the seller's motivation. That is crucial.
• So for me, I don't believe I will ever start a business from scratch again. I would only look to acquire.
• You need to do it. It's as simple as that. You need to take that first step.

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

In this episode, Jonathan Jay interviews Aled Davies, who runs a clothing and textiles printing business. Aled shares his journey of seeking organic growth for his family business, facing challenges such as a fire and the pandemic. Inspired by the podcast, Aled explores the acquisition route and becomes one of Jonathan's clients.

He shares how he completed his first acquisition of a smaller business and seamlessly integrated it into his existing company, leveraging the acquired website, customer base, and sales opportunities. He also shares some of the tips he has acquired along the way.

[00:45] About Aled Davies

[01:21] How Aled got into business

[04:16] How the Podcast motivated Aled

[05:00] Lessons learned after joining the fast-track program

[06:09] How Aled handled his first call

[08:09] How the negotiations for the deal went through

[15:05] The kind of due diligence one can do when buying a digital marketing company

[19:11] Tips learned by Aled along the way

• I had feedback and stopped because I didn't add for whatever you guys didn't fully commit to. But once you fully commit to it, there's no reason why if a deal doesn't feel right or it doesn't look, it will not be right for you. You can always walk away if you don't want to do it anyway.
• Get started and give it a go. But you never know what's going to come upon 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

This week Jonathan talks to Chris Stone, a hearing healthcare specialist based in Glasgow. Chris is a client of Jonathan's, and having already bought one competitor, he is now on the hunt for further acquisitions. In fact, right now he is the fastest growing hearing healthcare provider in Scotland.

The conversation begins with how COVID has affected the business.

[01:14] The effects of the pandemic

[02:40] Setting turnover targets

[03:36] The first acquisition

[12:00] The role that peer groups can play

[14:54] Possible additional acquisitions

[19:10] Structuring the next potential acquisition

[22:52] The strategy moving forward

[24:05] Advive for new business buyers

• Very quickly after we had hit heads of terms with that first acquisition, we got approached by another two or three businesses to sell to buy them out
• So we took that business on eight years ago. We got it to a million turnover. It took us four and a half, five, four and a half years to get 10 million turnover
• And I think if things keep going the way that they're going, we've probably got a strong enough management team now structure offering that we can start growing organically very quickly
• With five years of history behind it, management team in place,
• And I just thought, if they can do it, I can do 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

This week Jonathan talks with Ray Burke, who started a business in the transport and haulage sector which he grew to a £500,000 turnover operation after six years. However, after three acquisitions in eighteen months, he has increased his group business turnover to £3.4 million.

[01:26] Ray Burke's business background

[04:21] How Ray looked for and shortlisted potential business to buy

[05:05] Ray's first acquisition

[12:01] What has changed for Ray since the first acquisition?

[13:10] The second acquisition

[18:20] The third acquisition

[20:58] The mindset of running a group rather than a single business

[27:05] What advice would Ray give to new business buyers?

• So I structured a deal that I could use invoice, finance and cash in the bank to make that completion payment.
• If you want to buy a business you need to try and buy five, and then you might end up with two or three maybe if you're lucky.
• So the benefit of being the owner of a larger group is that you've now got a bigger team to do the strategy and operational stuff.
• So I suppose with growing the businesses and adding locations, sometime next year I'll be at 5 million turnover.

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

In this episode, Jonathan Jay is interviewed by Greg of the Empire Flippers Podcast, and they talk about the complexities of structuring deals and provide valuable insights into the world of acquisitions. Jonathan and Greg discuss the importance of looking for the right characteristics in an acquisition target. They talk about ensuring a smooth transition by having a management team in place. They recommend targeting larger, established businesses with positive cash flows for greater profitability and financing ease.

They also discuss ways to increase business valuation by making oneself redundant, making it more attractive to potential buyers. They explain the no-money-down approach, particularly in situations with limited funds, and shed light on leveraged buyout strategies. Mitigating financing risks is addressed, with Jonathan advocating for acquiring businesses with positive cash flows to support debt and cautioning against distressed businesses.

[01:46] How Greg met Jonathan Jay

[03:36] A brief background of Jonathan and what he does

[05:59] Structures and systems Jonathan would put in place if he was to buy 48 businesses again

[08:16] Characteristics to look out for in a business

[09:00] The importance of having the right management team

[11:11] How Jonathan's strategy is different from others

[14:29] How Jonathan structures LBOs

[15:25] Why buying distressed businesses is a trap for newbies

[23:55] How Jonathan exited the nursery schools

[29:31] The letter system for finding retiring business owners

[32:29] Common mistakes that people make while buying businesses

[35:50] Businesses that are hard to finance

[38:30] Best advice ever received by Jonathan

[40:16] How to connect with Jonathan

• The ideal business to buy always has management in place already.
• I always tell people to go for the bigger businesses because you'll make more money, they're easier to finance, they're easier to buy, and they run themselves better. They don't need you.
• Making yourself redundant in your business is the fastest way to increase value. And it just makes your business easier for someone to buy from you.
• A beginner should be looking for a business that has made money day in and day out for the past five years, has predictable cash flows, can support any debt you put into the business, and still has enough profit to take money out.
• Buying a business is not about the business you will own but the person you become.

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

This week Jonathan talks with entrepreneur, Phil, about the extraordinary story of his first major business deal.

He recounts how his life transformed following the deal, sharing the personal and professional growth accompanying this monumental achievement. Phil reveals people's common mistakes during the early days after an acquisition, and offers valuable insights to help aspiring entrepreneurs navigate those challenging initial stages.

[02:30] How Phil got his first deal

[05:51] The scope of the business bought

[06:33] What Phil was doing before the deal

[10:37] The origin of the deal

[14:02] Deals lined up for Phil

[19:13] How Phil's life changed

[20:56] Mistakes that people make in the early days

[24:43] Phil's attitude to getting deals done

[26:20] The benefits of being personable to people

• You've just got to realize that you only get one life. Nobody knows how long you've got left. So you've got to love your life the way that you want.
• Be a doer and not a thinker.
• You've got to be personable to people. You can email them offers and stuff like that because when you think about it, these people have been in these businesses for all these years. You've got to make it personal for them. You cannot take shortcuts.
• Invest in yourself, guys. Whether it's personal development whether it'd be doing these courses, you will get so much more value.

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

This week we meet James Gardner, who was a guest at my Dealmakers Live event in January. Now, James has been on the podcast before, but I wanted to catch up with him to find out what he's been doing. After explaining how he became attracted to the world of mergers and acquisitions, James outlines his plans for scaling up his acquisitions and doing more of them.

01-35 James introduces himself

03-15 James gets a job with the local undertaker

04-10 James drops out of university

05-40 Starting a business with his brother

08-50 Selling that business

10-30 Meeting his former employer and making his first acquisition

21-35 Finding his second acquisition by lending his limousines to a competitor

25-25 A last minute hitch

28-30 Using life insurance to reassure a seller

• One of my first goals was to be earning at least, if not more, than a graduate would've been in three years time, but I would've had three years worth of work experience, which they wouldn't have had.
• We became a little bit of a thorn in their side, in a nice way, and they ended up acquiring us lock, stock, and barrel, both in the US and here.
• I built up the courage to say, I know you're probably not ready to retire right now, but when you are, would you give me first refusal on your business? And he turned around and said, I think I'm ready now.
• So, in ten seconds, I saved myself 121,000 pounds!

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