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.
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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.
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