Business Buying Strategies from The Dealmaker's Academy #191 Business Buying Strategies Podcast
In this episode, I am joined by Aled Davies, who runs a printing and textile printing family business. Aled had been trying to grow this business organically before listening to this podcast and joining me on one of my business acquisitions, Fasttrack Programs, in 2020. Through this program, Aled got a whole new perspective on growing his business and has since made his first acquisition. In this episode, Aled shares how he came about and how he got to make his first acquisition. He also shares some words of wisdom with those interested in buying their own business.
Key Highlights[01:03] About Aled Davies
[04:15] Motivation towards buying his own business
[05:18] When you heard other people do what you wanted to do, did that motivate you?
[06:09] Likable moments in the Fasttrack program
[07:34] How did you go about your first call with the business owner of the business you eventually bought?
[08:39] Would you have grown your business by 10-15% in the next 12 months?
[09:25] The negotiation process
[12:56] Were you interested in his website traffic, inquiries, and existing customer list?
[17:20] Signifier of the worth of a business
[18:33] Business acquisition principles used
[20:32] Plans for the future
[21:56] Tips to listeners
Notable Quotes- It was surprisingly easy to do when you have started to get some idea of what you are doing.
- If a deal doesn’t feel right or doesn’t look like it's going to be the right one for you, you can always walk away if you don’t want to do it anyway.
- The first step is to get started and give it a go because you never know what will come out of it.
- All we did was make a few phone calls, went to see the guy, agreed on everything, and that was it. It was as simple as that.
If you are looking for a lawyer in the UK to help you get the deal over the line, then use my guy John Andrews. You can phone his office on +03452412494 or email him at johandrew.dolawyers.jmw.co.uk.
To join the Fasttrack Program, you can connect with Jonathan Jay on Dealmakers Academy, follow him on Linkedin, or get his videos on youtube.