One Year Into a Garage Door Business with $350k SDE
09/19/24 • 78 min
Register for the webinars:
- Due Diligence Office Hours - Thu Sept 19 - https://bit.ly/3B2oF29
- How Much to Budget for a Self-Funded Search - Fri Sept 20 - https://bit.ly/4e4FWpV
- Legal Office Hours (Deal Structure & Its Tax Implications) - Thu Sept 26 - https://bit.ly/4emLEn1
- How to Hire an Operator to Replace Yourself - Fri Sept 27 - https://bit.ly/3ZrbCl1
It was a revelation when Brittney Orellano heard about buying businesses. 6 months later, she'd done it herself.
Topics in Brittney’s interview:
- Running a property management business while acquiring
- Winning over the employees after transition
- Unexpected costs of maintaining equipment
- Cashflow problems led to layoffs in off-season
- Getting used to project-based revenue
- Putting an extra out-of-pocket $30k into the business
- Using local service ads on Google through slow season
- Being inspired by Codie Sanchez and Tommy Mello
- Comparing startups with acquired businesses
- Owning and operating a business with her husband
References and how to contact Brittney:
Learn more about Walker Deibel's done-with-you buy-side advisory:
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
Register for the webinars:
- Due Diligence Office Hours - Thu Sept 19 - https://bit.ly/3B2oF29
- How Much to Budget for a Self-Funded Search - Fri Sept 20 - https://bit.ly/4e4FWpV
- Legal Office Hours (Deal Structure & Its Tax Implications) - Thu Sept 26 - https://bit.ly/4emLEn1
- How to Hire an Operator to Replace Yourself - Fri Sept 27 - https://bit.ly/3ZrbCl1
It was a revelation when Brittney Orellano heard about buying businesses. 6 months later, she'd done it herself.
Topics in Brittney’s interview:
- Running a property management business while acquiring
- Winning over the employees after transition
- Unexpected costs of maintaining equipment
- Cashflow problems led to layoffs in off-season
- Getting used to project-based revenue
- Putting an extra out-of-pocket $30k into the business
- Using local service ads on Google through slow season
- Being inspired by Codie Sanchez and Tommy Mello
- Comparing startups with acquired businesses
- Owning and operating a business with her husband
References and how to contact Brittney:
Learn more about Walker Deibel's done-with-you buy-side advisory:
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
Previous Episode
Buying the Neighborhood Nursery (with $800k in Earnings)
Register for the webinars:
- Due Diligence Office Hours - Thu Sept 19 - https://bit.ly/4d27MSA
- How Much to Budget for a Self-Funded Search - Fri Sept 20 - https://bit.ly/4gk4XPH
- Legal Office Hours (Deal Structure & Its Tax Implications) - Thu Sept 26 - https://bit.ly/3zl0H1w
- How to Hire an Operator to Replace Yourself - Fri Sept 27 - https://bit.ly/3TuzvEG
Rory Tyer bought the nursery where he'd been a loyal customer. Today it generates not just cash for him, but peace.
Topics in Rory’s interview:
- Searching by driving around
- Advantage of buying in a high-growth area
- Buying a business his kids would be proud of
- Getting a “screaming deal” on a garden center
- Negotiating an unlisted deal
- Explaining deal structure to a seller
- Challenges of staffing a business with seasonality
- Decision to stay closed on Sundays
- Insurance costs tripling after acquisition
- Gardening as the antidote to screen fatigue
References and how to contact Rory:
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 $200 off your ticket to the M&A Launchpad Conference in Chicago on October 26th:
- https://www.malaunchpad.com & enter code ACQUIRINGMINDS
Get complimentary due diligence on your acquisition's insurance & benefits program:
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 Appeal of Franchise Buying: $1m EBITDA in 2 Years
Register for the webinars:
- Legal Office Hours (Deal Structure & Its Tax Implications) - Thu Sept 26 - https://bit.ly/4grubvD
- How to Hire an Operator to Replace Yourself - Fri Sept 27 - https://bit.ly/3zgUbJr
Corey Robinson bought 4 locations in the legacy franchise Batteries Plus. He quickly bought 8 more, growing to $10m/yr.
Topics in Corey interview:
- Leaving the security of his corporate job
- What he likes about Batteries Plus
- Buying an expansion location for $100k cash
- Changing the culture at one location
- Remotely managing Texan teams from Iowa
- An HVAC acquisition that went poorly
- What he learned about making big changes
- Operating an independent business compared to a franchise
- The toll it took to spread himself over multiple industries
- His current role as an investor in small business acquisitions
References and how to contact Corey:
- Webinar cited in the intro: How (and Why) to Choose a Franchise as an Acquisition Entrepreneur
- Batteries Plus
- Brian Beers Acquiring Minds interview
Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:
Get a complementary pre-acquisition HR & PEO review for your target business:
- Contact [email protected] or visit Aspen HR
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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