Owned and Operated - A Plumbing, Electrical, and HVAC Business Growth Podcast

#219 What It Really Takes to Buy a Local Service Business in 2025

Jul 4, 2025

Chris Barr, a savvy entrepreneur who acquired a pressure washing company, shares his insightful journey into business acquisition. He details how he structured his financing, combining cash and earnouts effectively. Chris emphasizes the importance of building the right team, selecting specialized advisors, and navigating the complexities of due diligence. He also provides tips on evaluating financial and legal risks while avoiding red flags. This conversation is a treasure trove for anyone looking to dive into local service business acquisitions.

Ask episode

AI Snips

Chapters

Transcript

Episode notes

ADVICE

Build a Versatile Trusted Team

Build your acquisition team with versatile professionals familiar with your priorities.
Keeping a consistent team aids negotiation and leverages their understanding of your needs.

ADVICE

Hire M&A Specialists for Acquisitions

Use M&A specialists for small business acquisitions to avoid costly mistakes.
Specialists understand unique risks and save money compared to large-firm attorneys unfamiliar with small deals.

ADVICE

Start Ops Due Diligence Early

Start operational due diligence early as it can reveal critical issues at no cost.
Combining ops and financial diligence helps avoid wasting time on non-viable deals.

Get the Snipd Podcast app to discover more snips from this episode

Get the app

Buying a small business? In this episode of Jackquisitions, we follow Chris Barr’s journey to acquiring a pressure washing company using smart financing—combining cash, earnouts, and trusted advisors. From submitting the LOI to executing deep-dive due diligence, Chris shares what it really takes to close a successful acquisition.

You’ll learn how to build the right team, evaluate financials and legal risks, and structure a deal that fits your vision. Whether you're just exploring acquisitions or in the weeds of a deal, this episode offers an insider’s look at getting a service business acquisition across the finish line.

⚡ What you’ll learn

What Chris looked for in an ideal pressure washing business—and how he sourced it
The creative structure behind his LOI and financing approach
Why specialization matters: How Chris leveraged his real estate pros for M&A success
The step-by-step due diligence checklist across financial, legal, and operational domains
How to avoid major pitfalls in banking and legal negotiations
The must-have advisors you need on speed dial when buying a business
How to evaluate seller-provided info and spot red flags before it’s too late

If you’re buying a local service business or scaling your portfolio, this episode gives you a framework to approach acquisitions confidently—with the right strategy and team in place.

👤 Hosted by:

Jack Carr

👤Episode Guest:

Chris Barr

💼 Shoutout to Appletree Business Services

HVAC and plumbing pros—ditch tax surprises and unresponsive accountants. Appletree handles your books, taxes, payroll, and acquisitions, and they know tools like ServiceTitan cold.

🎁 Get a free tax & financial review or 10% off a QOE report.

👉 Book a call here — tell Patrick Jack sent you.

💼 Special Thanks to First Internet Bank!

Looking to buy or expand a business? First Internet Bank is a National Preferred SBA lender specializing in acquisitions for the skilled trades. Their SBA loan program offers up to 90% financing for business acquisitions, partner buyouts, and commercial real estate—plus optional lines of credit to fuel future growth. Unlike traditional lenders, they take a “how can we” approach, making deals happen for both first-time buyers and experienced operators.

👉 Special Offer: Mention Owned and Operated for a reduced good faith deposit and a complimentary deal review + buyside prequalification.

Connect with Alan Peterson from First Internet Bank here to get started

Send Us Mail!

More Ways To Connect with O&O

Leave a Review

John Wilson, CEO of Wilson Companies
Jack Carr, CEO of Rapid HVAC

📌 Disclaimer:
Some links may include UTM parameters for tracking. Episodes may feature paid sponsors, but all opinions are our own. Always do your own research before making business decisions.