Inspired Or Acquired
Chis Edwards - Buying, Growing, and Selling A Flooring Business
Nov 6, 2024
Chris Edwards, a successful entrepreneur who recently sold his thriving flooring business in Steamboat, Colorado, shares his journey of rapid growth, achieving a 50% revenue increase and doubling EBITDA in just 3.5 years. He discusses the challenges of financing an acquisition, navigating operational improvements, and key growth strategies. Chris reflects on the emotional transition post-sale and the resilience required in business ownership. His insights on effective processes and team management offer valuable lessons for aspiring entrepreneurs.
43:20
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Quick takeaways
- Chris Edwards successfully transformed a struggling flooring business by implementing modern operational systems and focusing on team culture.
- His journey illustrates the challenges and rewards of acquisition entrepreneurship, culminating in a profitable sale after significant growth.
Deep dives
Transition from Employee to Business Owner
The journey of becoming an entrepreneur begins with a significant life change, as Chris made the decision to quit his job during the pandemic to search for a small business to acquire. He narrowed his focus to the flooring industry and quickly acquired Affordable Flooring Warehouse within a few months of starting his search. Transitioning to this new role was challenging; Chris had to learn about the flooring business from scratch and implement systems to stabilize the existing operations. His efforts paid off, resulting in significant growth in revenue and EBITDA during his ownership.
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