Acquiring Minds From Frustrated Searcher to $3.5m Owner to Holdco Builder
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Dec 23, 2024 In this engaging conversation, Simon Plummer, owner of BT Engineering and co-founder of Arbor Permanent Owners, shares his remarkable journey from a frustrated searcher to a successful business owner. He discusses the creation of Australia's 'BizBuySell' platform and the challenges of acquiring businesses down under. Simon dives into hands-on manufacturing experiences, lessons from cash flow mistakes, and the power of unique marketing strategies, including a collaboration with a YouTuber that skyrocketed sales. He also reflects on the emotional journey of hiring a CEO and building a long-term holding company.
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Creative Deal Sourcing
- If traditional routes are blocked, find creative solutions to access opportunities.
- Building a platform can give you an edge in deal sourcing.
Broker Resistance to Online Listings
- Business brokers initially resisted online listings, fearing loss of control.
- However, they quickly adopted them, recognizing their marketing potential.
Acquiring BT Engineering
- Simon acquired BT Engineering, a 60-year-old manufacturer of bricklaying tools, for 2x EBITDA.
- The deal involved a mix of cash, bank debt, and vendor financing.
