My First Million How I Bought a $3.4M Business For $200K
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Jul 4, 2025 
Dan Certner, a savvy entrepreneur and the mastermind behind Fleet Packaging, shares his riveting journey of acquiring a $3.4 million business with just $200K. He discusses the strategic negotiation tactics he employed, including the unique 'forgivable seller's note.' Listeners are treated to insights on identifying hidden market opportunities, the emotional rollercoaster of business ownership, and the importance of delegating tasks to focus on growth. With anecdotes from his college days, Dan inspires future entrepreneurs to embrace risks and seek out potential in overlooked industries.
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Dan Buys $3.4M Bag Business
- Dan bought Fleet Packaging, a bag distribution business, for $3.4 million. - The company had a 15-year history, generating $8-11 million in revenue and around $800,000 profit annually.
How Dan Bought a $3.4M Packaging Business With Just $200K Down and Doubled Profits
Dan Certner bought Fleet Packaging, a $3.4 million packaging distribution business, by putting only $200,000 down — using a $1.8M bank SBA loan and a $1.4M forgivable seller note. The business was generating $8-$11 million in revenue and $800K profit annually when he bought it.
He doubled profits to $1.7 million within about 18 months by focusing on growth and operational improvements post-COVID.
Key insights include:
- Buying from retiring baby boomers with no interested heirs is a promising path.
- Don’t buy a job or a business that requires all your time and delivers low profit.
- Shadowing the seller before purchase helped Dan learn the business hands-on.
- Forgivable seller notes reduce risk by forgiving debt if targets aren’t met.
- Thorough diligence and patience are vital; Dan reviewed 100+ businesses before deciding.
Dan emphasizes that buying an existing, profitable business is a validated shortcut versus starting from zero, but requires serious effort and risk tolerance.
Evaluate 100 Businesses First
- Look at around 100 business listings before deciding; avoid falling in love with the first few. - This builds experience to spot winners from losers and prevents desperation.
