Acquiring Minds Starter Acquisition: Buying a $25k Business
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Nov 4, 2021 Neil Granberry, an entrepreneur and MBA student, shares his journey of acquiring a bubble ball business. He discusses the benefits of starting with a small, profitable venture rather than chasing billionaire startup dreams. Neil emphasizes the significance of customer lists and detailed financial assessments in negotiations. He highlights the importance of delegating operations to prepare for future sales and encourages students to seize entrepreneurial opportunities, noting that even modest projects can lead to substantial returns.
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Neil's Bubble Ball Business Story
- Neil Granberry bought a bubble ball party rental business while starting his MBA program.
- He describes bubble ball as a soccer game played inside inflatable protective balls for fun and safety.
Career Pivot Sparked by COVID
- Neil grew up in a rural town and worked in engineering jobs before discovering an entrepreneurial itch.
- The COVID pandemic led him to seek side income, learn about search funds, and pursue an MBA to prepare for acquisitions.
Small Biz, Low Risk Acquisition
- Buying a small business with a low valuation multiple reduces financial risk.
- Even without growth or a clean exit, the business can be profitable and manageable alongside other commitments.