Acquiring Minds Finding a Good Business After 2+ Years of Searching
Jan 25, 2024
Ryan Doyle shares his 2-year search for a business and his rewarding self-discipline. He discusses failed deals, the value of thorough investigations, and the dangers of 'stupid good margins'. He talks about buying a pool business, being ghosted by his bookkeeper, and the importance of seasonality. He shares his plan to own the Georgia coast and the support he found through WhatsApp. The podcast also covers decision-making, red flags, managing employees, choosing stock deals vs asset sales, navigating challenges after acquisition, targeting higher-end homes, and the challenges and advantages of owning a pool service business.
AI Snips
Chapters
Transcript
Episode notes
Broken Deal
- Ryan Doyle's search dragged on due to a pool business deal that lasted nine months.
- Multiple red flags emerged, ultimately leading him to walk away the day before closing at the end of 2022.
Get a Professional QofE
- Get a quality of earnings (QofE) report from a professional.
- An objective third party can save you time and stress during due diligence.
Stock vs. Asset Deals
- Stock deals can be structured to protect buyers, but litigation is often inevitable.
- Asset deals offer cleaner protection from liabilities by default.