Only after taking a second look at a small wedding catering & venue business did Nick Patrick recognize an opportunity.  Topics in Nick’s interview:Buying a business that checked only one boxGetting past major key person riskNick's fear of lacking operational experienceAcquiring without an SBA loan or investorsLearning to lead and handle conflictOperational intensity of a wedding catering businessCash flow advantages due to up-front depositsImprovements he made to the businessRealizing he won’t be able double businessSelling the business for a healthy profitReferences and how to contact Nick:Nick's Linktree: http://linktr.ee/nick.patrickInvest Like the BestGet a complementary pre-acquisition HR & PEO review for your target business:Contact mark@aspenhr.com or visit Aspen HRLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

First-Timer Turns $20k into $900k in 19 Months

Buying a business is an amazing path for many successful entrepreneurs. Learn how to buy a business from the entrepreneurs who have already done it. 2x per week: stories, insights, & valuable advice about acquisition entrepreneurship. Hosted by Will Smith, who is on his own path to acquire a business.

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Jeff Homer bought a small local music school as a fun side hustle. It turned out to be the opportunity of a lifetime. Topics in Jeff interview:Switching from high finance to music schoolsBuying his first music school as a side projectRaising growth equity after first 2 acquisitionsAcquiring a music school every monthArtists’ negative predisposition toward sellingComparing profitability of music vs. danceImportance of general managers in scalingImplementing apps to streamline operationsOther industries with roll-up potentialRolling up 60+ music/dance schools nationwideReferences and how to contact Jeff:LinkedInEnsemble Performing ArtsLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabGet a complementary pre-acquisition HR & PEO review for your target business:Contact mark@aspenhr.com or visit Aspen HRConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Art of the Roll-Up: 40 Businesses in 4 Years

Jarett Berke told his intermediary "no restaurants" but changed his tune when he saw what a great business Lou's was. Topics in Jarett’s interview:Finding a business through an accountantWhy restaurants are a tough businessComparing military service to running a restaurantBuying a restaurant with exceptional marginsLearning every job in the restaurantPivoting to delivery during CovidDoing a stock deal instead of an asset purchaseReinvesting by adding tables and renovating60% growth in 6 yearsWhat he likes about the restaurant businessReferences and how to contact Jarett:LinkedInLou’s Restaurantjarett@lousrestaurant.comGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

When a Restaurant Is a Great Business to Buy

Scott Walton bought 2 barely-profitable blue collar companies, changed the culture, unlocked growth & hired a president. Topics in Scott’s interview:Acquiring with a partnerSolving their recruitment problemDoubling revenue in 18 monthsHis 3-step LOI strategyIncentivizing good customer serviceImproving their company cultureChallenges after acquisitionFinancing without the SBACreative deal structuringHis thoughts on buying smallReferences and how to contact Scott:LinkedInscott.walton@matrixmechanical.caHome Service Expert PodcastGet a complementary pre-acquisition HR & PEO review for your target business:Contact mark@aspenhr.com or visit Aspen HRLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Building a $10m Platform from 2 Low-SDE Businesses

4 acquisitions, 3 years after the first deal, and 2 dishonest sellers before Chandra Rao went full-time in his holdco. Topics in Chandra’s interview:Learning from due diligence mistakesLosing $300k in the first yearChallenges with payment terms and working capitalTrue value of a seller noteOne of his partners embezzled from the companyFpppChoosing a conventional loan over SBAThe electrical contracting and fiber optic cabling businesses6x growth in 4 yearsJuggling a roll-up and a W-2A seller who committed fraudReferences and how to contact Guest:LinkedInchandra@millermn.comMiller UtilitiesGet a complementary pre-acquisition HR & PEO review for your target business:Contact mark@aspenhr.com or visit Aspen HRWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Holdco Origin Story: The Bumpy Road to $3m EBITDA

Zach Smith bought a 30-year-old membership business that connects patients with dentists to return it to former glory. Topics in Zach’s interview:His exit from UberDifficulty of starting a marketplace businessWhen spreadsheets meet realityBuying a shrinking businessGoing with a stock sale instead of asset saleCurrent problems with dental insurance plansHow American Dental Care differs from insuranceThe view from the bottom of the J curveHis plan to grow all sides of the marketplaceForgoing an SBA/bank loanReferences and how to contact Zach:LinkedInTwitterAmerican Dental CareGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

First-Timer Turns $20k into $900k in 19 Months

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