Acquiring Minds $700k EBITDA with No SBA, No Money Down
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Mar 28, 2024 25-year-old entrepreneur Andrew Stordeur shares how he purchased a furniture manufacturer without personal capital. Topics include IPO plans, financing without SBA, seller notes, direct-to-consumer sales, and being a sole breadwinner. Stordeur's strategy to increase sales faster than Amazon and his decision not to buy with a partner.
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From Cannabis Startup to Business Buyer
- Andrew Storder has a unique background, including president and COO of a cannabis startup that went public on NASDAQ.
- He transitioned from startup executive to searching for and acquiring an existing business to leverage his operational skills.
Choosing Sole Ownership Over Partnership
- Andrew initially considered partnering with an investor but chose to be the sole owner for full control.
- The partner eventually stepped back, leading Andrew to pursue 100% ownership and financing solo.
Cedar's Natural and Sustainable Edge
- Cedar is naturally resistant to insect and rot, making it ideal for outdoor furniture.
- Sustainable cedar from responsibly managed forests offers an environmentally friendly alternative to composites.