Advertise on podcast: Acquiring Minds

Jon Hyatt was under LOI on a dental practice when a late-night Craigslist search turned up one he couldn't resist. Register for the webinar:  Structuring LOIs: Competitive Enough to Win, Bankable Enough to Close - TODAY!! - https://bit.ly/4s1pAWVTopics in Jon’s interview: Using Facebook groups for industry researchWhy labor became a search constraintThe abandoned dental roll-up thesisDiscovering E.J. Willis on CraigslistFalling for a 138-year-old heritage brandBuying a tiny businessNavigating an asset purchase and carve-outSelling bells to defense shipbuildersBuilding direct-to-consumer bell demandReviving forgotten products and company historyReferences and how to contact Jon: LinkedInE.J. Willis Co.The ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business: The Acquisition LabGet complimentary due diligence on your acquisition's insurance & benefits program: Oberle Risk Strategies - Search Fund TeamGet a free review of your books & financial ops from System Six (a $500 value): Book a call with Tim or [email protected] and mention Acquiring MindsConnect with Acquiring Minds: See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron

Elias Youssef stepped into an unprofitable plumbing company as its GM, grew it 6x, then got an SBA loan to buy it. Register for the webinar:  Structuring LOIs: Competitive Enough to Win, Bankable Enough to Close - Thu, Oct 22 - https://bit.ly/4B7XVHUTopics in Elias’s interview: Dropping out of community collegeStacking cash as an appliance salesmanEarly real estate joint venturesBreaking even on an assisted living acquisitionSeeking out HVAC mentorshipThe brutality of cold callingOperating before buyingMajority equity is majority workBuying is easy. Running it is the hard part.Getting out of operationsReferences and how to contact Elias: LinkedIn Frost and FlowElias’s announcement of Kyle’s acquisitionWork with an SBA loan team focused exclusively on helping entrepreneurs buy businesses: Pioneer Capital AdvisoryGet a complimentary IT audit for acquisition diligence or post-close transition. Visit inzotechnologies.com/eta.Contact Jenny to learn how Engage can run people operations in your acquisition: Jenny Thear: [email protected] with Acquiring Minds: See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron

Jay Boren bought a tiny grease tool business run out of a living room, then grew it into a brand with 250 products. Register for the webinar: The Small Things That Sink First-Year Owners - TODAY!! - https://bit.ly/3VAOWiqTopics in Jay’s interview: Choosing Vermont over Silicon ValleySolving geography through ETADiscovering LockNLube through TuckTurning a grease coupler into opportunityNavigating a hostile South African supplierBuying LockNLube as an internStructuring a heavily seller-financed acquisitionExpanding from one SKU to 250Scaling through digital advertising and AmazonExiting LockNLube and staying through integrationReferences and how to contact Jay: LinkedInLockNLubeJarrett Burke on Acquiring Minds: When a Restaurant Is a Great Business to BuyContact Jenny to learn how Engage can run people operations in your acquisition: Jenny Thear: [email protected] a free review of your books & financial ops from System Six (a $500 value): Book a call with Tim or [email protected] and mention Acquiring MindsGet a complimentary IT audit for acquisition diligence or post-close transition. Visit inzotechnologies.com/eta.Connect with Acquiring Minds: See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron

Brendan Guerin was 21 when he and 3 friends bought a dog daycare on the side. Today: 6 Midwest locations. Register for the webinars:  Debt Financing Your Deal (SBA & Independent Sponsor) - TOMORROW!! - https://bit.ly/4rRpQaYThe Small Things That Sink First-Year Owners - Thu, Oct 15 - https://bit.ly/4idBtVxTopics in Brendan’s interview: He bought his first doggy daycare at 21The first acquisition was a deliberate starter dealFour partners split ownership and responsibilities.The $1.1M deal included real estateEBITDA margins approached 50% before rentBuying real estate protects long-term business controlMidwest real estate makes their model workCovid unexpectedly supercharged dog daycare demandBrendan eventually left finance to operate full-timeToday, Argos spans six Midwest locationsReferences and how to contact Brendan: [email protected] complimentary due diligence on your acquisition's insurance & benefits program: Oberle Risk Strategies - Search Fund TeamWork with an SBA loan team focused exclusively on helping entrepreneurs buy businesses: Pioneer Capital AdvisoryThe ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business: The Acquisition LabConnect with Acquiring Minds: See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron

Tyler Hoffman has bought 4 telecom companies with no outside equity, and works 15 hours a week to get to $50m. Topics in Tyler’s interview: Lessons from being fired repeatedlyFinding and acquiring Metro WirelessFilling experience gaps with charismaFinancing the $4.5 million acquisitionNavigating a difficult ownership transitionDiscovering hidden operational problems post-close Losing half of earnings — and survivingRebuilding Metro Wireless through operational improvements3 tuck-in acquisitionsBalancing business growth with personal autonomyReferences and how to contact Tyler: LinkedInHoffman CapitalMetro WirelessJeff Homer’s webinar: Architecture of an Entrepreneurial Roll-UpGet a free review of your books & financial ops from System Six (a $500 value): Book a call with Tim or [email protected] and mention Acquiring MindsThe ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business: The Acquisition LabWork with an SBA loan team focused exclusively on helping entrepreneurs buy businesses: Pioneer Capital AdvisoryConnect with Acquiring Minds: See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron

Colin King and his 50/50 partner have paid themselves little since 2018, reinvesting profits back into their businesses.  Topics in Colin’s interview: Growing Circle City Capital’s business portfolioDon’t call them private equityWhy Colin stopped wanting operational rolesWhy critical mass matters for holdcosHe still earn less than operatorsHoldco strategy versus industry-specific rollupsThe fox versus hedgehog frameworkLearning through hands-on operating experienceWhy chasing money can make things harderCostly mistakes and failed acquisitionsReferences and how to contact Colin: [email protected] LinkedInColin King’s first appearance on Acquiring Minds: How to Build a $28m Holdco (in 6 Years)Circle City Capital GroupGet a complimentary IT audit for acquisition diligence or post-close transition. Visit inzotechnologies.com/eta.Contact Jenny to learn how Engage can run people operations in your acquisition: Jenny Thear: [email protected] complimentary due diligence on your acquisition's insurance & benefits program: Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds: See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron

Patrick Dunphy acquired a low-seven-figure interpreter agency, then halved its collection times in year one. Topics in Patrick’s interview: From Army aviation to business ownershipWhy Patrick chose ownership over corporate successThree years searching while working full-timeTurning red flags into acquisition opportunitiesWhy intrinsic value matters beyond financial returnsBuilding a scalable, contractor-driven service businessStructuring an SBA acquisition without seller financingCutting payment times in half through better invoicingPreserving trust through a quiet ownership transitionGrowing through new markets and government contractsReferences and how to contact Patrick: LinkedInJS LanguagesWork with an SBA loan team focused exclusively on helping entrepreneurs buy businesses: Pioneer Capital AdvisoryGet a complimentary IT audit for acquisition diligence or post-close transition. Visit inzotechnologies.com/eta.Contact Jenny to learn how Engage can run people operations in your acquisition: Jenny Thear: [email protected] with Acquiring Minds: See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron

Jack Rauch left politics for a niche Florida business no bank would finance. He's doubled revenue twice since. Register for the webinar:  Sizing an SBA Loan to the Cash Flow - TOMORROW!! - https://bit.ly/4hrFwgeTopics in Jack’s interview: From the White House to entrepreneurshipDiscovering an overlooked private provider nicheCustomers helped save the businessHow private inspections accelerate construction projectsExpanding beyond the seller's tiny territoryNavigating licensing requirements without industry experienceFinancing the deal without SBA backingRaising prices and finding unexpected growthDoubling revenue during each ownership yearJoining industry leadership to reduce regulatory riskReferences and how to contact Jack: LinkedInTew & TaylorThe ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business: The Acquisition LabGet complimentary due diligence on your acquisition's insurance & benefits program: Oberle Risk Strategies - Search Fund TeamGet a free review of your books & financial ops from System Six (a $500 value): Book a call with Tim or [email protected] and mention Acquiring MindsConnect with Acquiring Minds: See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron

Kyle Holmes spent 8 years running Quail Ridge for its investor owners. Then they asked if he wanted to buy it. Register for the webinars: Protect the Business: How to Diligence Insurance Pre-Close - TODAY!! - https://bit.ly/4xvNj2ESizing an SBA Loan to the Cash Flow - Tue, Sep 29 - https://bit.ly/4y1Xr4aTopics in Kyle’s interview: Growing up in a golf family Running Quail Ridge before becoming an ownerBeing approached about buying the golf courseGolf’s boom, recession, and post-COVID resurgenceMichigan’s surprisingly strong golf marketRevenue from golf, dining, events, and driving rangeImproving Quail Ridge before buying the businessValuing land worth more than operationsNegotiating from $6.5 million to $7.3 millionFinancing with SBA, conventional, and seller debtReferences and how to contact Kyle: LinkedInQuail Ridge Golf ClubContact Jenny to learn how Engage can run people operations in your acquisition: Jenny Thear: [email protected] a free review of your books & financial ops from System Six (a $500 value): Book a call with Tim or [email protected] and mention Acquiring MindsGet a complimentary IT audit for acquisition diligence or post-close transition. Visit inzotechnologies.com/eta.Connect with Acquiring Minds: See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron

Manolo Diaz Corrada came home to Puerto Rico to build for decades and keep the wealth from leaving the island. Register for the webinars:  Working Capital: What Buyers Need to Know Before Closing - TOMORROW!! - https://bit.ly/4yJUdSXProtect the Business: How to Diligence Insurance Pre-Close - Thu, Sep 24 - https://bit.ly/4rlZei3Topics in Manolo’s interview: Building a career across engineering, business, and lawFighting Puerto Rico’s brain drainLaunching a self-funded search in a tiny marketWhy traditional search fund investor passed on Puerto RicoFinding an acquisition through family connectionsNavigating SBA financing challenges in Puerto RicoUsing reputation as a due diligence toolBetting on Puerto Rico’s infrastructure boomUsing backlog to underwrite acquisition riskStructuring a deal with seller financingReferences and how to contact Manolo: LinkedInBonneville GroupGet complimentary due diligence on your acquisition's insurance & benefits program: Oberle Risk Strategies - Search Fund TeamWork with an SBA loan team focused exclusively on helping entrepreneurs buy businesses: Pioneer Capital AdvisoryThe ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business: The Acquisition LabConnect with Acquiring Minds: See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron

Morli Desai bought an e-commerce brand with an SBA loan. Three years later: liquidation, Chapter 11, and gratitude. Register for the webinars: Equity Financing: From SBA Deals to Independent Sponsors - TODAY!! - https://bit.ly/4r81edBWorking Capital: What Buyers Need to Know Before Closing - Tue, Sep 22 - https://bit.ly/4gZWFxhTopics in Morli’s interview: Acquiring a skincare brandWhy she felt confident in the companyEarly red flags she minimizedAmazon shipping disasterRising cost per click8-12% customer retention rateUnique challenges of ecommerceNegotiating multiple loan deferralsStress of the personal guaranteeFiling subchapter V bankruptcyReferences and how to contact Morli: LinkedInMorli’s first Acquiring Minds episode: How to Buy a $4m E-com Business with an SBA LoanGet a complimentary IT audit for acquisition diligence or post-close transition. Visit inzotechnologies.com/eta.Contact Jenny to learn how Engage can run people operations in your acquisition: Jenny Thear: [email protected] complimentary due diligence on your acquisition's insurance & benefits program: Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds: See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron

Rob Brooks bought a $1.9m Sarasota HVAC shop, then ignored the advice to wait 90 days before changing it. Register for the webinar:  Equity Financing: From SBA Deals to Independent Sponsors - Thu, Sep 17 - https://bit.ly/3VqwuZuTopics in Rob’s interview: Choosing an industry where he had an edgeBuying smaller to reduce debt riskUnderstanding prepaid customer obligationsUsing ChatGPT to learn HVACMaking changes immediately after acquisitionInheriting a GM and long-tenured employeesDigitizing operations and increasing accountabilityTransforming a blame culture into a problem-solving cultureAdding weekly employee training sessionsPracticing radical honesty with customersReferences and how to contact Rob: LinkedInGary AirGrant HenselJack Carr on Acquiring Minds: Back from the Brink When Everybody Quits Day 1Get a free review of your books & financial ops from System Six (a $500 value): Book a call with Tim or [email protected] and mention Acquiring MindsThe ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business: The Acquisition LabWork with an SBA loan team focused exclusively on helping entrepreneurs buy businesses: Pioneer Capital AdvisoryConnect with Acquiring Minds: See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron

Adam Whelchel paid himself instead of the IRS, putting $35k down on an escape room doing $365k with room to grow. Register for the webinar:  The Deal I Almost Bought (And Why I Passed) - TODAY!! - https://bit.ly/4hVeKikTopics in Adam’s interview: Built a $1.5M accounting firmBusiness brokerage opened the acquisition doorWanted a business his daughter could appreciateAn escape room caught his attentionFixed costs created massive operating leverageBought the business for roughly $220KPut about $35K into the dealBusiness acquisition as a tax strategyRe-engaged customers and local businessesPlans to double capacity to 20%References and how to contact Adam: LinkedInAxis Accounting & TaxJeff Homer on Acquiring Minds: 1 Music School to $100m in RevenueAdam’s slides Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses: Pioneer Capital AdvisoryGet a complimentary IT audit for acquisition diligence or post-close transition. Visit inzotechnologies.com/eta.Contact Jenny to learn how Engage can run people operations in your acquisition: Jenny Thear: [email protected] with Acquiring Minds: See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron

Mike Bourgeois bought an HVAC company bleeding $3m a year, all cash and no SBA, then cut $1.4m of costs in 2 weeks. Register for the webinar:  The Deal I Almost Bought (And Why I Passed) - Thu, Sep 10 - https://bit.ly/4zKAGTNTopics in Mike’s interview: Led major Air Force medical practiceFound a search partner with complementary skill setsBet on distressed businesses with liquidation valueFound a deal through veteran ETA SlackSpeed beat the highest bidImmediately cut $1.4M in annualized expensesRaised gross margins from 7% to 49%Shifted from silos to teamworkEmphasis on ongoing staff trainingHis goal of being a capital allocator/investorReferences and how to contact Mike: LinkedInCardinal Heating & AirBook: The Compounders: From Small Acquisitions to Giant Shareholder ReturnsThe ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business: The Acquisition LabGet complimentary due diligence on your acquisition's insurance & benefits program: Oberle Risk Strategies - Search Fund TeamGet a free review of your books & financial ops from System Six (a $500 value): Book a call with Tim or [email protected] and mention Acquiring MindsConnect with Acquiring Minds: See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron

Sujith Shankar left 25 years in corporate to buy cash-flowing businesses: a $1.2m repair shop and a $2m body shop. Topics in Sujith interview: How Rivian layoffs changed everythingFalling down the Warren Buffett rabbit holeWhy auto repair beat real estateFunding a deal without an SBA loanRunning a business while keeping a W-2Winning over skeptical employees after closingPlanning a mini Berkshire HathawayIs EV adoption really a threat?Buying a second business just months laterCollision shops vs. repair shopsReferences and how to contact Sujith: LinkedInThe Billionaire Who Wasn’t by Conor O’CleryEdgar Galindo on Acquiring Minds: How 1 SBA Loan Brought Down 2 BusinessesContact Jenny to learn how Engage can run people operations in your acquisition: Jenny Thear: [email protected] with an SBA loan team focused exclusively on helping entrepreneurs buy businesses: Pioneer Capital AdvisoryThe ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business: The Acquisition LabConnect with Acquiring Minds: See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron