What I learned from six business acquisitions

Hello and welcome to our first episode of 2023 - a very happy new year to you all. 

This week, Jonathan talks with Mastermind member John, an experienced dealmaker who sold his own business a couple of years ago, and has since acquired six different businesses in his chosen sector - osteopathic and physiotherapy practices. 

In less than two years John’s new group has gone from zero to two and a half million in annual revenue - he has another acquisition lined up, ready to go - as well as ambitions acquisition plans for the coming year. 

Key Highlights

[01:23] Trusting your instincts when making an acquisition

[03:30] The importance of deal flow

[04:40] John's business background

[06:05] Analysis - What makes a deal work?

[11:25] The importance of passing on fee increases

[15:17] The strength of the management team

[21:00] The Financial Director's role and cash flow forecasting

[23:20] When to develop an HR function?

[25:45] Speed of engagement as important as speed of acquisition

[33:45] Advice for anyone wondering about whether to do their first deal

Key Quotations

One of the big lessons I've learned is that if you start off on a hostile footing with a business seller, you might as well walk away straight away.  We've left money on the table by not managing fee increases quickly enough. At the beginning I made a point of talking to all the senior fee earners and saying, this is what the vision is, and making it clear that I wanted them to be part of it. It’s not just the speed of doing a deal that’s important, but also the speed of engaging with the practice sellers.

Resources

If you are looking for a lawyer in the UK to help you get the deal over the line, then use my guy, John Andrews. You can phone his office at (0345) 2412494 or email him at johnandrews.deallawyer@jmw.co.uk.

If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: https://www.dealmakersvideo.co.uk

Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk

You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/

If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast 

Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy