Mills Snell (@thegeneralmills) is joined by Brock Briggs (@BrockHBriggs), first-time searcher, to talk about 2 deals: A Florist company and a FedEx P&D Routes one. We talk about: operational aspects, financial modeling considerations, the trade-off of bringing a Limited Partner in, separating real estate from a business: when should you do it and how to limit your exposure as a buyer, and much more. 

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Show Notes:

1:27 Microacquire
3:20 Brock’s background
5:08 What are you searching for Brock? Where are you in your search process?
6:48 Deal 1: A massive Florist for sale in CT
10:00 What do we think about this one?
12:14 What’s the potential upside from this deal? Where’s the ceiling? How does size relate to growth opportunities?
15:40 How should we think about the Customer Acquisition funnel? What should we consider from an operational side? 
18:01 Don’t assume growth opportunities to be low-hanging fruits
20:07 How do we think about weddings as a revenue segment? What should we consider on the operational side?
24:40 Thoughts on seasonality and part-time labor hiring
28:28 Let’s talk about financing: How do we think about bringing a Limited Partner to your first deal? What collateral could you consider lending against? 
34:27 Real estate and business. Should you keep them together or separate them? What other options are there for the buyer?
42:02 Deal 2: FedEx P&D Routes
46:45 What did you like about this one?
49:34 Operational considerations, what should we ask the seller? What debt are we assuming in this deal? What is the impact on the listing price?
54:17 Is it an owner-operator kind of business? What should we dig into from an operational perspective? What are growth opportunities?
56:56 Macro perspective thoughts? Why would I take on a business that FedEx refuses to operate?
1:00:25 How do first-time buyers can get comfortable with the risk of things going south?

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Links:

* Scuttlebuck Podcast

* http://Twitter.com/BrockHBriggs

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Past guests on Acquanon include Nick Huber, Brent Beshore, Aaron Rubin, Mike Botkin, Ari Ozick, Mitchell Baldridge, Xavier Helgelsen, Mike Loftus, Steve Divitkos, Dzmitry Miranovich, Morg

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