Frank Growth

Buy a SaaS, Skip the Startup with Doug Breaker


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Episode #213: Doug Breaker — Buying a SaaS instead of building from zero

How to acquire a profitable SaaS with minimal upfront capital.
For operators considering ownership but hesitant to start from scratch.

Doug Breaker, CEO of Shoeboxed and former CEO of MD Hearing Aid, explains why he chose to buy a 20-year-old SaaS company instead of building one. After running an eight-figure DTC business, he acquired Shoeboxed using an SBA loan with only 5% down. He breaks down how he sourced deals, structured financing, evaluated distribution over tech, and identified upside in an under-marketed business with a million-person email list. The conversation covers the actual mechanics of SBA loans, due diligence priorities, and what it takes to stabilize and grow an acquired SaaS in the first 90 days.

What you’ll hear
  • How SBA loans work for SaaS acquisitions and how he structured a 5% down deal
  • Why distribution, customer base, and cash flow mattered more than the product itself
  • Common mistakes operators make when evaluating build vs. buy decisions
  • How to approach your first acquisition and test interest before committing full-time
Chapters
  • 00:00 — Why buying a SaaS beats building from scratch
  • 02:01 — From CEO-for-hire to buying Shoeboxed
  • 03:51 — How he sourced and evaluated acquisition opportunities
  • 04:41 — How SBA loans and deal structure actually work
  • 06:47 — First 90 days after acquiring a SaaS
  • 10:25 — Growth lessons and how to approach your first acquisition
Links & resources

Guest
Doug Breaker — CEO, Shoeboxed
Website
LinkedIn

About Frank Growth

Frank Growth is a podcast about how companies actually grow—real operators, real constraints, real decisions.
Hosted by Jason Shafton.

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  • Work with Winston Francois: https://wf.team/podcast
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Frank GrowthBy Jason Shafton