Acquiring Minds First-Timer Buys 8-Figure Business 4 Hours Away
30 snips
Dec 30, 2024 Nick Molina, a serial entrepreneur known for taking companies public and achieving multiple exits, shares his unique journey of acquiring a 275-employee property management business in Minneapolis, all while living in Miami. He discusses the pitfalls of start-ups, the importance of effective listening in sales, and why he avoids doing business in California. Nick emphasizes the value of family legacy in entrepreneurship and offers insights into using loan brokers for smoother acquisitions. His story reveals the thrill of navigating new ventures while managing established firms.
AI Snips
Chapters
Books
Transcript
Episode notes
Early Entrepreneurial Success and Retirement Attempts
- Nick Molina, a serial entrepreneur, took his first company public at 29 after growing it from a two-person operation to 289 stores.
- He attempted retirement multiple times after several exits, but realized he thrives on entrepreneurial action.
The Allure of Low Multiples in ETA
- Molina discovered Entrepreneurship Through Acquisition (ETA) and was drawn to the low multiples of small businesses (3-4X).
- This contrasted with his prior experience of double-digit multiples in previous exits.
Acquisition Criteria for Self-Funded Searchers
- Target established businesses with a strong number two who can take over leadership.
- Look for recurring revenue, low CapEx, and avoid California due to its challenging business environment.
