Acquiring Minds Buying a $3m Candle Manufacturer That Had No Books
Oct 9, 2023
Chad Hildebrandt shares his experience acquiring a business with no financial records, negotiating a deal for a candle manufacturer, and the challenges of the transition period. He discusses the importance of understanding financing, the three types of candle makers, and the process of reconstructing financial records. Chad also highlights the benefits of independence, the importance of systems in manufacturing, and standing out in the candle manufacturing business.
Chapters
Transcript
Episode notes
1 2 3 4 5 6 7 8 9 10 11 12
Introduction
00:00 • 3min
The Search for a Business to Buy
02:31 • 15min
The Benefits of Independence and an Acquisition Lab Update
17:54 • 2min
Understanding Financing and Negotiating for an Acquired Business
20:15 • 4min
Finding a Manufacturing Business in Jersey City
24:40 • 2min
Exploring Manufacturing, Recurring Revenue, and Repeat Customers
26:38 • 2min
Acquiring a Candle Manufacturer
28:43 • 12min
Creating a Spreadsheet for Profit and Loss (P&L)
40:28 • 23min
Negotiating the Purchase
01:03:35 • 7min
Transition Period and Employee Concerns
01:10:47 • 16min
Challenges and Rewards of Owning a Candle Manufacturing Business
01:26:17 • 6min
Standing Out in the Candle Manufacturing Business
01:32:28 • 11min