Acquiring Minds 8 Figs or Bust: Transitioning a Big Plumbing Business
7 snips
Feb 19, 2024 Topics in the podcast include acquiring a plumbing business, challenges with employee turnover, surprises in client loss, complexities of working capital, underestimating salary needs, and the recommendation to hold off on strategy. The host also shares references for further information and contact details of the guest.
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Trade-off Bigger Deals Ownership
- Bigger business deals often require more leverage and complex financing, reducing ownership and control for the buyer.
- Smaller deals let you maintain ownership and require only maintaining business, while bigger deals force growth to justify valuation.
Near Buy of Mulch Blowing Biz
- Peter nearly bought a mulch blowing business but found unexpected financial and character issues last minute.
- This niche business involves using expensive trucks to blow mulch on large properties, illustrating a unique trade service opportunity.
Manage Due Diligence Expenses
- Delay spending on deal costs and third-party service providers as long as possible during due diligence.
- Cut dead deals early to minimize financial loss and focus on viable opportunities.