First-Timer Buys 8-Figure Business 4 Hours Away
12/30/24 • 91 min
Nick Molina on how he found, acquired, & plans to manage a 275-employee business in Minneapolis from his home in Miami.
Topics in Nick’s interview:
- Taking his first company public in 1998
- His unwillingness to retire
- The tremendous cost of start-ups
- Which state he won’t do business in
- Buying a business he doesn’t have to operate
- Importance of listening in sales
- Living in Miami while owning a business in Minneapolis
- What makes a good property management business
- Using a loan broker
- Appeal of keeping a business in his family
References and how to contact Nick:
Get a complementary pre-acquisition HR & PEO review for your target business:
- Contact [email protected] or visit Aspen HR
Get a free review of your books & financial ops from System Six (a $500 value):
- Book a call with Tim or email [email protected] and mention Acquiring Minds
Get a complimentary IT audit of your target business:
- Email Nick Akers at [email protected], and tell him you’re a searcher
Connect with Acquiring Minds:
- See past + future interviews on the YouTube channel
- Connect with host Will Smith on LinkedIn
- Follow Will on Twitter
Nick Molina on how he found, acquired, & plans to manage a 275-employee business in Minneapolis from his home in Miami.
Topics in Nick’s interview:
- Taking his first company public in 1998
- His unwillingness to retire
- The tremendous cost of start-ups
- Which state he won’t do business in
- Buying a business he doesn’t have to operate
- Importance of listening in sales
- Living in Miami while owning a business in Minneapolis
- What makes a good property management business
- Using a loan broker
- Appeal of keeping a business in his family
References and how to contact Nick:
Get a complementary pre-acquisition HR & PEO review for your target business:
- Contact [email protected] or visit Aspen HR
Get a free review of your books & financial ops from System Six (a $500 value):
- Book a call with Tim or email [email protected] and mention Acquiring Minds
Get a complimentary IT audit of your target business:
- Email Nick Akers at [email protected], and tell him you’re a searcher
Connect with Acquiring Minds:
- See past + future interviews on the YouTube channel
- Connect with host Will Smith on LinkedIn
- Follow Will on Twitter
Previous Episode
How to Buy Franchise Businesses, Then Sell to PE
After buying then exiting a 12-unit franchise portfolio, Alicia Miller became expert on how to attract private equity.
Topics in Alicia’s interview:
- Leaving her corporate career to buy a franchise
- Acquiring a portfolio of Sylvan Learning Centers
- Turning around unprofitable locations
- Her tips for negotiating an acquisition
- How private equity has impacted franchising
- Acquiring existing franchise locations vs. de novo development
- Which brands attract private equity and why
- New brands that are disrupting their industries
- Why Subway has value despite closing locations
- How emerging franchise brands change as they grow
References and how to contact Alicia:
- Big Money In Franchising by Alicia Miller
Get a free review of your books & financial ops from System Six (a $500 value):
- Book a call with Tim or email [email protected] and mention Acquiring Minds
Get a complementary pre-acquisition HR & PEO review for your target business:
- Contact [email protected] or visit Aspen HR
Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:
Connect with Acquiring Minds:
- See past + future interviews on the YouTube channel
- Connect with host Will Smith on LinkedIn
- Follow Will on Twitter
Next Episode
The Path to Becoming a Better Operator & Strategist
Tim Lahey has doubled the $1.6m company he bought, and buying small has prepared him well for the next phase of growth.
Topics in Tim’s interview:
- Being inspired by Doug Cook
- Looking for a “dusty, not rusty” business
- Partnering with an M&A firm to search
- Acquiring a home technology company
- Getting bitten on a cashflow crunch
- Handling customer complaints as the owner
- Culture of small businesses
- Changing too much too fast
- Listening for what customers want
- Challenges of buying small
References and how to contact Tim:
Get complimentary due diligence on your acquisition's insurance & benefits program:
Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:
Learn more about Walker Deibel's done-with-you buy-side advisory:
Connect with Acquiring Minds:
- See past + future interviews on the YouTube channel
- Connect with host Will Smith on LinkedIn
- Follow Will on Twitter
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