3 business acquisitions in eighteen months

This week Jonathan talks with Ray Burke, who started a business in the transport and haulage sector which he grew to a £500,000 turnover operation after six years. However, after three acquisitions in eighteen months, he has increased his group business turnover to £3.4 million.

Key Highlights

[01:26] Ray Burke's business background

[04:21] How Ray looked for and shortlisted potential business to buy

[05:05] Ray's first acquisition

[12:01] What has changed for Ray since the first acquisition?

[13:10] The second acquisition

[18:20] The third acquisition

[20:58] The mindset of running a group rather than a single business

[27:05] What advice would Ray give to new business buyers?

Notable Quotes

• So I structured a deal that I could use invoice, finance and cash in the bank to make that completion payment.
• If you want to buy a business you need to try and buy five, and then you might end up with two or three maybe if you're lucky.
• So the benefit of being the owner of a larger group is that you've now got a bigger team to do the strategy and operational stuff.
• So I suppose with growing the businesses and adding locations, sometime next year I'll be at 5 million turnover. 

Resources

Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on hello@thedealmakersacademy.com for more information. 

If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at johnandrews.deallawyer@jmw.co.uk.

If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk

Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk

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