Buying "Boring" Businesses and the Secret Goldmine of Acquisition With Chris Hillier (MU Classic)

Sep 8, 2025

Chris Hillier, an entrepreneur and adjunct professor at the University of Denver, shares insights on acquiring businesses rather than starting from scratch. He highlights the search fund model, where investors support aspiring entrepreneurs in buying and running companies. Chris discusses financing options like SBA loans and the appeal of recurring revenue businesses, often overlooked as "boring." He emphasizes the skills needed for successful CEOs and the growing market of boomer-owned businesses, making it an exciting time for acquisitions.

36:50

forum

Ask episode

web_stories

AI Snips

view_agenda

Chapters

auto_awesome

Transcript

info_circle

Episode notes

question_answer

ANECDOTE

From Benefits Consulting To ETA

Chris described building a benefits consulting firm, wellness company, and acquiring a stop-loss underwriter as his path into ETA.
That experience led him to work with many searchers doing due diligence and advising post-acquisition.

insights

INSIGHT

Buying Vs. Building

Buying a business can be a lower-risk path into entrepreneurship than starting from scratch.
You step into existing systems, processes, and revenue rather than validating a new idea.

volunteer_activism

ADVICE

Use Creative Financing Strategically

Explore multiple financing routes: self-fund, investor-backed search funds, SBA loans, seller notes, or equity partners.
Match financing structure to deal size and your cash on hand rather than assuming one single path.

Get the Snipd Podcast app to discover more snips from this episode

Exploring the Search Fund Model and Entrepreneurial Journeys

01:58 • 3min

chevron_right

Entrepreneurship Through Acquisition

05:16 • 12min

chevron_right

Demystifying Business Acquisitions: Opportunities Beyond High Price Tags

16:55 • 4min

chevron_right

Unlocking Entrepreneurship: The Search Fund Model

21:22 • 9min

chevron_right

Navigating Business Locations and Acquisition Strategies

30:27 • 8min

chevron_right

#578 Did you know that buying a business can be a smarter path to success than starting one from scratch? In this episode, host Brien Gearin is joined by Chris Hillier, an entrepreneur and adjunct professor at the University of Denver, to break down the search fund model — a unique way for aspiring business owners to secure funding while searching for the right company to acquire. Chris shares his journey from building businesses in healthcare and brokerage to helping entrepreneurs navigate acquisitions. We explore financing options, key traits of successful searchers, and why boring businesses can be the best investments. Whether you're new to business ownership or looking for creative ways to scale, this episode is packed with actionable insights and expert advice to help you make your next move!

(Original Air Date - 2/4/25)

What we discuss with Chris:

+ Entrepreneurship Through Acquisition (ETA): A lower-risk path to business ownership

+ Search Fund Model: Investors fund entrepreneurs to acquire and run businesses

+ Acquisition Financing: SBA loans, seller financing, and investor-backed deals

+ Ideal Acquisition Targets: Profitable businesses with recurring revenue

+ Role of a CEO: Skills needed to successfully take over a business

+ Boomer-Owned Businesses: Growing opportunities as owners retire

+ Getting Started: How to find and vet businesses

+ ETA vs. Startups: Key differences and advantages

+ Scaling with Acquisitions: Building a portfolio through multiple purchases

+ Boring Businesses = Profits: Why overlooked industries can be goldmines