Acquiring Minds Buying $5m of Revenue with $50k of Equity
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May 19, 2025 Devin Fitzgerald, owner of RML Service Group, shares his journey of acquiring and reviving two struggling home healthcare agencies. Driven by a personal connection to his grandmother's nursing legacy, he emphasizes that buying revenue is easier than creating it. Devin discusses the significance of understanding seller motivations, fostering a positive work culture, and the challenges of turning around declining businesses. He also highlights the critical role of enthusiasm in leadership and the power of personal connections in business negotiations.
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Grandmother's Influence Shapes Devin
- Devin Fitzgerald had a chaotic childhood but his grandmother was a strong stabilizing influence.
- He credits her for inspiring his love of learning and setting him on a positive path.
Master Cold Calling by Volume
- Practice and volume make cold calling business owners more effective.
- Develop a rhythm and questions to save time and improve responses in acquisitions.
Pivoting After a Failed Deal
- Devin's first acquisition came just after an eight-month deal fell through.
- Despite the disappointment, he quickly moved on and found a new viable acquisition opportunity.