Acquiring Minds

How to Buy & Operate a Plane Ride Away

27 Feb 2023

Contributed by Lukas

Paul Quirk acquired a $800k EBITDA window & door business in the UK, continuing to live with his family in Switzerland. Topics in Paul's intervie...

Recent Guest Exits for 8 Figures

23 Feb 2023

Contributed by Lukas

Shortly after his first interview in June, Jason Andrews sold his business to a strategic buyer for a life-changing sum. Topics in Jason's interview:...

Reward for Being Systematic: $2m Dog Training Business

20 Feb 2023

Contributed by Lukas

Chirag Shah applied systems from his days as a product manager to find & acquire a dog-training business with $600k SDE. Topics from Chirag's int...

How to Roll Up Legacy Franchises (to $36m/yr)

16 Feb 2023

Contributed by Lukas

Brian Beers, owner of 30 Midas locations, teaches how to acquire an empire with seller financing for retiring owners. Topics from Brian's interview:H...

Using $100k to Buy a 7-Figure Dream Business

13 Feb 2023

Contributed by Lukas

Tyler O'Connor bought a 20-year-old golf school he found on BizBuySell doing mid-7 figures with 35% margins. Topics in Tyler's interview:Why Tyler de...

One Year Later: 60% Growth + 2 More Acquisitions

09 Feb 2023

Contributed by Lukas

Patrick Dichter returns to update us on a productive first year as CEO of a bookkeeping business he bought in late 2021. Topics in Patrick's intervie...

Key Moments from 3 Entrepreneurs Who Bought Businesses

06 Feb 2023

Contributed by Lukas

Multiple perspectives today as Chelsea Wood of the Acquisition Lab moderates a panel with 3 women who bought businesses. Topics from the panel:Cassie...

Former Searcher Opts to Franchise Instead

02 Feb 2023

Contributed by Lukas

Jacob Lee signed up for 10 locations in the Scenthound franchise after deciding it was a better opportunity than search. Topics in Jacob's interview:...

Manufacturing Opportunity: Look Where Others Aren't

31 Jan 2023

Contributed by Lukas

Jules Brenner searched for 2.5 years before buying a manufacturer with great tailwinds and a path to $100m in revenue. Topics in Jules' interview:Jul...

How to Buy a Salon as an Industry Outsider (and Survive)

26 Jan 2023

Contributed by Lukas

Sarah Romer bought a large but tired hair salon in Austin for $80k. Her first year as owner was the hardest of her life. (This is a rebroadcast from N...

Buying Franchises: A Primer for Searchers

24 Jan 2023

Contributed by Lukas

Twitter-famous Wolf of Franchises on why & how you should buy existing franchise businesses, including lots of examples. Themes from the conversa...

Buying a $3m Course Business (Whose Founder is the Face)

19 Jan 2023

Contributed by Lukas

Online course businesses have dazzling margins but a key weakness. Dom Wells explains how to acquire one & make it work. Topics from the intervie...

The Wine Business: 5x Growth in a Tough but Fun Industry

17 Jan 2023

Contributed by Lukas

David Page bought a Bay Area wine business in 2010, against the advice of colleagues. 12 years later, it's 5x larger. Topics in David's interview:Don...

1 Year Later as Buyer of a $1m EBITDA Business

12 Jan 2023

Contributed by Lukas

Chris Williams was a guest in 2021, just after his acquisition. He returns to share how it's going now, 14 months later. Topics from Chris's intervie...

The Wealth Potential of Self-Funded Search

10 Jan 2023

Contributed by Lukas

Key findings from SIG's new study on self-funded search: financial outcomes, deal costs & terms, search lengths & more. Topics from the inter...

(Part 2) 8-Figure Exit: How to Buy, Transform & Sell in 3.5 Years

05 Jan 2023

Contributed by Lukas

How Bradley Roofner & Logan Brown transformed a tough, project-based landscaping biz into a recurring revenue machine. (This is the second part of...

8-Figure Exit: How to Buy, Transform & Sell in 3.5 Years

03 Jan 2023

Contributed by Lukas

How Bradley Roofner & Logan Brown transformed a tough, project-based landscaping biz into a recurring revenue machine. Themes from the interview ...

Buying a Therapy Practice & Selling for Millions

29 Dec 2022

Contributed by Lukas

A husband & wife bought a therapy practice for $120k, almost dumped it, then grew it for 8 years when PE came knocking. (This is a rebroadcast fro...

A Cautionary Tale of Buying Too Small

27 Dec 2022

Contributed by Lukas

JD Klein bought a print shop for $100k, thinking such a small acquisition carried little risk. The opposite was true. (This is a rebroadcast from Dece...

State of the Pod, 2022

22 Dec 2022

Contributed by Lukas

Acquiring Minds will start publishing twice per week. Host Will Smith explains the rationale for this decision. Get complimentary due diligence on yo...

Dream Fulfilled: Buying a $2m, 50-Year-Old Business

20 Dec 2022

Contributed by Lukas

When Fraser Voll first learned about buying businesses, he couldn't stop reading about it. That passion paid dividends. Topics in Fraser's interview:...

Buying a Bitcoin Mining Facility

13 Dec 2022

Contributed by Lukas

Chris Koerner acquired a bitcoin mining facility he found on BizBuySell for $750k and now employees 11 people. Topics in Chris's interview:Bitcoin mi...

Birth of a Holdco (with 15 Acquisitions to Date)

06 Dec 2022

Contributed by Lukas

Trevor Boehm shares how Saturn Five started as a venture studio but found buying small businesses a better model. Topics in Trevor's interview:First ...

6 Months to Buy a Business with $1m+ in EBITDA

29 Nov 2022

Contributed by Lukas

Shane Ehrsam went full-time in his search & used systematic broker outreach to buy a great business in his local market. Topics in Shane's interv...

Buying a Business to Escape the Middle Class

22 Nov 2022

Contributed by Lukas

Jordan Novgrod sold his house, tapped his 401k, and went all-in to buy an $800k SDE business he found on BizBuySell. Topics in Jordan's interview:Fin...

How to Buy a $2.3m Business with $100k in Cash + Your 401k

15 Nov 2022

Contributed by Lukas

Burk Adams tapped his 401k to buy a business that reinvented his career, gave him back time, and catapulted his wealth. Topics in Burk's interview:Us...

How to Survive Buying a Bad Business

08 Nov 2022

Contributed by Lukas

It looked like a dream: $2m EBITDA, recurring, large market. Only after Judd Lorson bought it did he learn the truth. Topics in Judd's interview:Sear...

Buying Doggy Daycares After 10 Years in Tech

01 Nov 2022

Contributed by Lukas

Taylor Wallace was over tech. He acquired a small business and with it a renewed sense of impact (and opportunity). Topics in Taylor's interview:Tech...

Would They Do It Again? 1 Year Later with 5 Early Guests

25 Oct 2022

Contributed by Lukas

Episode 100! To celebrate, 5 early guests come back to share how things are going at their acquisitions, 1 year later. 2:48 - Chris Edwards acquired ...

How to Buy a Seasonal Biz: Buy Another for Low Season

18 Oct 2022

Contributed by Lukas

Andrew Harbin first bought an awning business, then bought a fencing franchise to keep his crew working through summer. Topics in Andrew's interview:...

How a $40k Acquisition Led to a Franchise Empire

11 Oct 2022

Contributed by Lukas

James Temple & his mother acquired a struggling Mathnasium franchise in 2009. Today, they do $7m across 19 locations. Topics in James' interview:...

Selling a Business for 5x a Year After Buying It

04 Oct 2022

Contributed by Lukas

Sumana Sanjeeva got into ecommerce by chance. 3 years later, she's acquired 4 ecom businesses & sold one for over $5m. Topics from Sumana's inter...

Ups and Downs of Buying Small (and Keeping a Job)

29 Sep 2022

Contributed by Lukas

Toni Kononova bought a ghostwriting business for $500k to experiment with buy-then-build while limiting her downside. Topics in Toni's interview:What...

Reflections After 1 Year of Searching Full Time

27 Sep 2022

Contributed by Lukas

Frustrated searchers: this episode is for you. Jesse Sunquist shares 4 lessons from a year of hunting for a business. Topics in Jesse's interview:Wha...

Not Just a Young Man's Game: Acquiring at 60

20 Sep 2022

Contributed by Lukas

When most people would be considering retirement, Anne Ristic started a new chapter of her career by buying a business. Topics in Anne's interview:De...

Opening Up to Franchises to Buy a Great Business

13 Sep 2022

Contributed by Lukas

How Doug Johns overcame his reservations about being a franchisee to acquire a dream business with $1.8m EBITDA. Topics in Doug's interview:Buying a ...

The Appeal of Lead Gen Businesses (Especially Old Ones)

07 Sep 2022

Contributed by Lukas

A primer on lead gen businesses from Jaime Arias, who bought a 14-year-old biz that generates online leads for dentists. Topics in Jaime's interview:...

Building an HVAC Holdco to £60m in Revenue

30 Aug 2022

Contributed by Lukas

Sam Turner is 3 acquisitions into a 5-year plan to buy HVAC businesses across the UK that together cash flow £6m/yr. Topics in Sam's interview:How t...

Rolling Up Real Estate Appraisal Firms

23 Aug 2022

Contributed by Lukas

Kevin Swenson shares his story of buying a $3m real estate appraisal firm as a platform to roll up the fragmented space. Topics from Kevin's intervie...

Growing an Ecommerce Acquisition 13x in 4 Months

16 Aug 2022

Contributed by Lukas

Ramon Van Meer bought an ecommerce business doing $30k/mo. A few tweaks & months later, it was up to $400k per month. Topics in Ramon's interview...

Flower Power: Buying a Rose Distributor Primed for Growth

09 Aug 2022

Contributed by Lukas

Jason Cline left corporate at age 50 to buy a flower distribution business (in cash). SDE is up 3x after just one year. Topics in Jason's interview:P...

A Brutal Search Rewarded with Success After 3+ Years

02 Aug 2022

Contributed by Lukas

Jordan Carter started as a part-time, generalist searcher. 3+ years later, he bought a biz doing $2.4m with 40% margins. Topics in Jordan's interview...

Buy a SaaS Business in 2022: How to Compete in a Hot Market

26 Jul 2022

Contributed by Lukas

A deep-dive into the market for SaaS businesses with Thomas Smale, founder of leading SaaS brokerage FE International. Topics in Thomas's interview:P...

Leaving Apple to Buy a Real Estate Business with 150+ Agents

19 Jul 2022

Contributed by Lukas

Kinza Azmat arrived in the US at age 6, speaking little English. Today she's the new owner of a thriving RE brokerage. Topics from Kinza's interview:...

7 Findings from the New Data on Self-Funded Searches

15 Jul 2022

Contributed by Lukas

Lisa Forrest shares key findings from a survey of 49 entrepreneurs who bought a business after a self-funded search. The findings discussed were base...

Why Chenmark Bought a Boat Tour Business

12 Jul 2022

Contributed by Lukas

Seasonal. Nonrecurring. Key person risk. Trish Higgins recounts how Chenmark got excited about an unlikely acquisition. Topics in Trish's interview:B...

The Weird & Wonderful World of Vending

06 Jul 2022

Contributed by Lukas

Ujwal Velagapudi acquired a multimillion dollar vending empire with thousands of machines & 7 figures of cash flow. Themes from Ujwal's interview...

Don't Be Tempted: 8 Signs of a Bad Business

28 Jun 2022

Contributed by Lukas

A lender and a searcher explain how to quickly identify a business you should NOT buy, saving you months of wasted time. Themes from Ryan & Heath...

How to Acquire & Grow an FBA Business

21 Jun 2022

Contributed by Lukas

Alex Michael bought a wallet brand doing $650k on Amazon. Alex delves into how FBA works & what the growth levers are. Themes from Alex's intervi...

Good News for Ecommerce Buyers

20 Jun 2022

Contributed by Lukas

Multiples for ecom businesses jumped 50% since 2018, but Quiet Light's Joe Valley says that trend is about to reverse. Themes from Joe's interview:Th...

Search Success in a Small City: $500k SDE, 95% Recurring

14 Jun 2022

Contributed by Lukas

How James Maxwell & his partner found a 22-year-old janitorial biz & successfully installed a GM in a city of 100,000. Themes from James' int...

How to Get Good Deals from Brokers

07 Jun 2022

Contributed by Lukas

Business broker Clint Fiore explains how to most effectively work with brokers to find good businesses to buy. Themes from Clint's interview:Brokers'...

What Searchers Can Learn from Big PE

02 Jun 2022

Contributed by Lukas

Alex Mears draws on years of experience at Carlyle & Blackstone to support and invest in searchers (70 & counting). Themes from Alex's interv...

How to Buy a Big Business with a Buy-Side Advisor

01 Jun 2022

Contributed by Lukas

Jason Andrews paid $250k to a buy-side advisor to help find & acquire his first business — and would 100% do it again. Themes from Jason's inte...

7 Common Mistakes Across 250 Searchers

23 May 2022

Contributed by Lukas

Chelsea Wood has worked with 250+ business buyers & identifies 7 challenges that commonly interfere with their success. Themes from Chelsea's int...

Acquiring a Business in Florida, Living in California

16 May 2022

Contributed by Lukas

How Chris Munn runs his first acquisition, a $800k cleaning business in Tampa, while being based in LA. Themes from Chris’s interview:Real estate v...

Why Buy a Small Manufacturing Business

09 May 2022

Contributed by Lukas

Ex-cop John Hubbard bought a $5m trailer manufacturing biz from an absentee owner & expects to grow to $12m by 2024. Themes from John’s intervi...

Buying Digital Businesses in 2022

02 May 2022

Contributed by Lukas

Digital business buyer Dom Wells shares where he looks for opportunities today in the shifting sands of online business. Themes from Dom's interview:...

Lessons from a Founder Who Then Started Acquiring

25 Apr 2022

Contributed by Lukas

Mike Loftus started his landscaping business from scratch, then began buying others to accelerate growth to $4m/yr. Themes from Mike’s interview:Gr...

Self-Funded Search vs. Traditional Search Funds

18 Apr 2022

Contributed by Lukas

Lively debate between Greg Geronemus & Robert Graham about the 2 most common models searchers use to acquire a business. Covered in the debate:Qu...

8 Figure Exit, 2 Years After Buying the Business

11 Apr 2022

Contributed by Lukas

How Keith Leimbach paid 6 figures for a business he saw on QuietLight, then exited for 8 figures two years later. *** Register for live episode here: ...

2 Common Risks in Search & How to Mitigate Them

07 Apr 2022

Contributed by Lukas

Due diligence expert Elliott Holland looks at industry & owner/seller risk, and exactly what you can do to address them.  *** Register for live e...

How to Buy a $4m HVAC Business (at Age 24)

04 Apr 2022

Contributed by Lukas

After big success with affiliate marketing online, @Gundwolf sought to acquire & build a more durable business.  *** Register for live episode he...

What to Love About HVAC Acquisitions

28 Mar 2022

Contributed by Lukas

Nathan Lenahan acquired an HVAC company with ~$1.2m in revenue for $400k. He's aiming to double sales in 2022 to $2.72m. Themes from Nathan’s inter...

How & When to Make Changes at Your Acquisition

24 Mar 2022

Contributed by Lukas

This is the rebroadcast of a panel that Acquiring Minds recently moderated at the annual ETA Summit at MIT. MIT's panel description:"First do no harm...

Shut Out by Industry Brokers, an Entrepreneur Finds a Way

21 Mar 2022

Contributed by Lukas

Having witnessed the power of clean books, Patrick Dichter was driven to buy a $1.2m bookkeeping & accounting business. Themes from Patrick’s i...

How to Buy a Business Using Tactics from B2B Tech Sales

14 Mar 2022

Contributed by Lukas

George Vallone unpacks how he used cold outreach to find an off-market cleaning biz doing $1m and buy it for 2x EBITDA. Themes from George’s interv...

Transatlantic Search for a $1m+ EBITDA Business

07 Mar 2022

Contributed by Lukas

Before embarking on his search, Alex Glasner interviewed 50 searchers & uncovered 2 key attitudes necessary for success. Themes from Alex’s int...

Buying a 20-Year-Old Online Business

03 Mar 2022

Contributed by Lukas

Looking to buy a part-time online biz as he neared retirement, Dave Bramlett found it in a resume service doing $1.5m. Themes from Dave's interview:M...

6 Months in the Truck: Buying an Ice Delivery Biz

28 Feb 2022

Contributed by Lukas

Brandon Adams bought a $850k EBITDA ice delivery company only to discover he'd be doing deliveries himself for 6 months. Themes from Brandon's interv...

Nailing the Trifecta: B2B + Remote + Scalable

22 Feb 2022

Contributed by Lukas

Damon Chlarson had 3 key criteria, and he found them in an insulation supplier doing $380k EBITDA and selling for $1.1m. Themes from Damon’s interv...

Overcoming a Career Rut by Buying a Business

14 Feb 2022

Contributed by Lukas

Frustrated after losing 3 jobs, Bruce Vann used savings to acquire a 25-employee, 7-figure curtain manufacturer for 2x. Themes from Bruce’s intervi...

Building a Blue Collar Empire

07 Feb 2022

Contributed by Lukas

After seeing 9-figure businesses built through acquisition, Adrian Pinto bought a landscaping biz to build one himself. Themes from Adrian’s interv...

7 Years Later: Leaving Wall Street to Buy Small Businesses

31 Jan 2022

Contributed by Lukas

The 3 founders of Chenmark left promising corporate careers to pursue a multi-decade path of acquiring small businesses. Themes from the interview wi...

How to Build a Holdco (4 Acquisitions So Far)

24 Jan 2022

Contributed by Lukas

With 4 acquisitions since starting in 2018, Justin Turner explains how his team is building a permanent equity holdco. Themes from Justin’s intervi...

Buying a Business & Having a Blast

18 Jan 2022

Contributed by Lukas

@Fundof1 was searching for a business in a tight geography, and found a great fit in a $760k appliance repair company. Themes from John’s interview...

Buying a Manufacturer with 1 Good Employee & 2000 SKUs

13 Jan 2022

Contributed by Lukas

Knowing zero about manufacturing, Josh Paulson found purpose when he bought a small & struggling producer of pet cages. Themes from Josh's interv...

The Key to a Profitable Liquor Store

10 Jan 2022

Contributed by Lukas

Devin Wanzor went from a corporate gig with 50 employees to buying a $3M liquor store and playing golf 3 times a week. Themes from Devin's interview:...

It's All Your Fault: How to Become CEO of Your Acquisition

03 Jan 2022

Contributed by Lukas

Mike Curry bought a business only to struggle for years as its new CEO. He shares the lessons that unlocked 2x growth. Themes from Mike’s interview...

A Cautionary Tale of Buying Too Small

20 Dec 2021

Contributed by Lukas

JD Klein bought a print shop for $100k, thinking such a small acquisition carried little risk. The opposite was true. Themes from JD's interview:Runn...

Choosing Laundromats over Real Estate

16 Dec 2021

Contributed by Lukas

Geoff Oliver bought 2 laundromats in rural Texas. He shares his numbers & what to consider when acquiring a laundromat. Themes from Geoff's inter...

5 Takeaways from Harvard's ETA Conference

13 Dec 2021

Contributed by Lukas

Harvard's acquisition entrepreneurship conference took place last week. Organizer Michael Ledecky shares 5 takeaways. Themes from Michael's interview...

Lessons from 14 Years in Search

09 Dec 2021

Contributed by Lukas

Having searched, acquired, and exited a business himself starting back in 2007, today Mark Sinatra invests in searchers. Themes from Mark's interview...

What to Acquire: 3 Hot Sectors for Business Buyers

06 Dec 2021

Contributed by Lukas

Casey Clark talks hot industries, identifying growth potential in a business for sale, and avoiding common SMB pitfalls. Themes from Casey's intervie...

Buying the Family Business & Growing 4x During COVID

30 Nov 2021

Contributed by Lukas

Resisting at first, Mark Litton eventually realized that buying the family biz was the perfect path to entrepreneurship. Themes from Mark's interview...

How to Hire an Attorney for Your Acquisition

23 Nov 2021

Contributed by Lukas

Learn how to find a lawyer for your deal, how much you'll spend, what to look for, and how to avoid suing the seller. Themes from the interview with ...

Buying a Therapy Practice & Selling for Millions

22 Nov 2021

Contributed by Lukas

A husband & wife bought a therapy practice for $120k, almost dumped it, then grew it for 8 years when PE came knocking. Themes from Neil's interv...

The Argument for Self-Funded Search

15 Nov 2021

Contributed by Lukas

Jordan Carter & Robert Graham argue for self-funded search over traditional search funds or the "buy small" approach.Themes from the interview wit...

How to Buy a Salon as an Industry Outsider (and Survive)

08 Nov 2021

Contributed by Lukas

Sarah Romer bought a large but tired hair salon in Austin for $80k. Her first year as owner was the hardest of her life.Themes from Sarah's interview:...

Starter Acquisition: Buying a $25k Business

04 Nov 2021

Contributed by Lukas

Neil Granberry bought a bubble ball business to prove himself as an entrepreneur while pursuing an MBA at the same time.Themes from Neil’s interview...

Stay Open to the Many Flavors of Search

01 Nov 2021

Contributed by Lukas

Thanks to changing his search from traditional to self-funded, Chris Williams bought a $1m EBITDA bookkeeping business.Themes from Chris's interview:T...

From Search Misery to Successful CEO

28 Oct 2021

Contributed by Lukas

Steve Divitkos shares tips from his acquisition, from the solitude of search to the delicate balance of being a new CEO.Themes from Steve's interview:...

Buying a 45 Year Old Software Business

25 Oct 2021

Contributed by Lukas

A podcast exposed Jason Budd to buying businesses. After 10 years in corporate, he'd found his path to entrepreneurship.Themes from Jason's interview:...

How to Buy Landscaping Businesses

21 Oct 2021

Contributed by Lukas

Closing on his 2nd acquisition in 10 months, Mike Botkin just became Central Florida's largest landscaping business.Themes from Mike's interview:Acqui...

Anatomy of a Search: 40 Interns, 25 Months, 20 Offers

17 Oct 2021

Contributed by Lukas

Jessica Markowitz used a traditional search fund to search for & ultimately buy a great business. But the road was long.Themes from Jessica's inte...

How to Choose Your Lender When Buying a Business

14 Oct 2021

Contributed by Lukas

There are many lenders out there eager to finance your acquisition. SBA loan expert Lisa Forrest explains how to choose.Themes from Lisa's interview:W...

The Poetry of Buying a Blue Collar Business

11 Oct 2021

Contributed by Lukas

Shannon Jones explains how acquisition entrepreneurs should navigate the realities of buying a blue collar business.Themes from Shannon's interview:Ki...

What You Don’t Understand About Buying a Small Business

07 Oct 2021

Contributed by Lukas

Due diligence expert Elliott Holland shares the top things he wishes he’d known when he first started buying businesses.Themes from Elliott's interv...

6 Ways Buying a Business Has Changed Since 2016

04 Oct 2021

Contributed by Lukas

Nick Haschka shares what's changed in the market since acquiring his first small business in 2016. (Hint: it’s harder.)Themes from Nick's interview:...

How to Buy a Medical Billing Business

28 Sep 2021

Contributed by Lukas

Less than a year after acquiring a $1m medical billing business, Curt Neider is already looking for his second deal.Themes from Curt's interview:Buyin...