Acquiring Minds Buy, Grow, Exit for a 24x Return in 3.5 Years
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Feb 10, 2025 Chris Edwards, former owner of Affordable Flooring, shares his remarkable journey of buying, growing, and exiting a business. He discusses the emotional and financial challenges he faced, including sleepless nights and fears after losing clients to a former employee. Highlighting significant revenue growth, he reveals how he transformed EBITDA from $500k to $1.1M and achieved a striking return on investment of $4 million. Chris also reflects on the unique dynamics of operating in a small, isolated town and his decision to sell for new opportunities.
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Acquisition Background
- Chris Edwards, a former consultant, bought Affordable Flooring in Steamboat Springs during the pandemic.
- He had limited experience in flooring, but was drawn to the business's economics, location, and perceived simplicity.
Reason for Selling
- Chris sold Affordable Flooring to pursue a more scalable business opportunity.
- He wanted to apply his learnings to a business model with greater growth potential.
Business Growth
- Chris grew Affordable Flooring's revenue by 50%, from $3 million to $4.5 million annually.
- EBITDA more than doubled, increasing from $500,000 to $1.1 million during his ownership.