Acquiring Minds When Buying a Retail Business Makes Sense
25 snips
Apr 7, 2025 Ken Eyjolfson, the owner of Mr. Liquidator Mattress, shares his journey from a firefighter to a successful mattress retailer. He discusses the complexities of buying a business, revealing the ups and downs of navigating acquisitions in the Canadian mattress industry. Ken sheds light on his unique warehouse-style business model, the significance of social media, and strategies for expanding through pop-up shops. He also highlights the essential role of clean financial records and strong supplier relationships in achieving success.
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From Firefighter to Entrepreneur
- Ken Eyjolfson's entrepreneurial journey began with a firefighting career and a desire for more control over his professional growth.
- He co-founded a Soccer Shots franchise in Canada, scaling it to 5,000 kids before exiting during COVID.
The Search Process
- After selling his first business, Ken immediately started searching for another acquisition, driven by a desire to avoid starting from scratch.
- During his four-year search, he advises against being too conservative and recommends building good relationships with brokers.
Simplicity as a Key Factor
- Ken's choice to acquire Mr. Liquidator wasn't solely due to relaxed standards but rather its operational simplicity.
- This simplicity reduces the managerial burden, a key concern given his firefighting career.
