The Routine Revenue Podcast

We’re about to cross year 3 post acquisition of a 40-year-old electronics distributor business... here’s the full update

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Summary

In this conversation, Shideler Bennett shares his entrepreneurial journey, detailing his transition from aspiring dentist to successful franchise owner of Crumble Cookies. He discusses the challenges and strategies involved in rapidly expanding his business, the importance of understanding franchising risks, and the dynamics of funding and partnerships. Bennett emphasizes the significance of proven experience in potential partners and explores diversification opportunities beyond food and beverage. He also touches on the role of real estate in franchise operations and offers insights into building a successful business.

Chapters

00:00 The Journey to Entrepreneurship

03:03 Navigating the Franchise Landscape

06:05 Challenges of Rapid Expansion

08:58 Understanding Franchising Risks and Rewards

12:11 Funding Your Franchise Venture

15:04 Exploring Diversification in Business

18:01 Real Estate Considerations for Franchise Owners

20:54 Building Partnerships for Success

24:12 Future Plans and Opportunities

Chapters

00:00 My Journey of Small Business Acquisition

02:47 Facing the Harsh Realities of Small Business Acquisition

05:59 The Emotional Toll of These Challenges

09:07 Lessons Learned and Personal Growth

11:54 Looking Ahead: Optimism and Persistence

Eyal Toledano launched a small angel fund to buy and grow micro-SaaS products for freedom and profit. He’s sharing the whole journey at microangel.so. In 2021 Acquire’d a company called Reconcilely for $148k. Listen to how he negotiated the price and decided it was the right business for him.

SummaryBrock Grossbeck shares his experience acquiring two businesses, Deep Cuts Lawn Care and a Murphy Bed business. He started with Deep Cuts Lawn Care, a small business he bought from his uncle for $4,000. He worked part-time on the business while still employed full-time. In the first season, he made an extra $3,000 a month by mowing lawns three days a week. He then transitioned to running the business full-time.

Later, he acquired the Murphy Bed business with the help of family funding.

Brock shares his day-to-day activities and offers advice for others interested in acquiring businesses.

Chapters

00:00 Introduction and Background

03:02 Acquiring Deep Cuts Lawn Care

09:07 Transitioning to Full-Time

28:34 Running Two Businesses

43:40 Advice for Others

SummaryIn this episode, Matt Pitkin shares his journey of acquiring a laundromat and starting a SaaS business. He discusses how he transitioned from a nonprofit to entrepreneurship and the challenges he faced along the way.

Matt also talks about the revenue and potential exit of his SaaS business, as well as the renovation and growth of the laundromat. He shares insights on managing a laundromat from a distance and provides advice for investing in laundromats and generating passive income.

Takeaways

Chapters

00:00 Introduction and Background

01:18 Starting a SaaS Business

06:06 Building a SaaS Product

10:17 Revenue and Potential Exit of SaaS Business

12:12 Acquiring a Laundromat

25:43 Revenue and Operations of the Laundromat

28:34 Managing a Laundromat from a Distance

35:51 Advice for Investing in Laundromats and Passive Income

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David started his career in finance, working as an equity trader at JP Morgan (2007- 2011), a project manager with Goldman Sachs (2011-2013), and a private equity associate with The Aclaime Group (2013-2014).

Following seven years in finance, David enrolled at BYU in 2014 to earn his JD and MBA while on full scholarship. Following his first year of law school, David earned CFA charter in 2015.

In late 2015, during his first semester of business school, David purchased his first food-related small business and started applying many of the principles he learned while working at two of the world’s largest companies. David found that his passion was working on Main Street (instead of Wall Street) as he learned to grow and operate a small business.

Since graduating from BYU and working a brief stint at Hanesbrands as a Treasury Manager (2017-2019), David has launched KAM as a vehicle to acquire, operate, and grow high quality Utah-founded food concepts. David is passionate about his vision to grow KAM into Utah’s premier owner and operator of best-in-class, hospitality-focused food concepts.