Acquiring Minds

Andrew Sieve saw his life implode after COVID. Buying a highly profitable 40-year-old restaurant turned things around. Topics in Andrew’s interview: Andrew’s family history of owning and operating restaurantsWhy he prefers smaller restaurantsThe tragedies of 2020 that led to him exiting his family’s businessMoving from Minneapolis to Colorado to start overHow a chance meeting led to him buying a restaurantHow they achieved a smooth transition What factors make restaurants difficult businessesThe risks in acquiring an institutional legacy restaurantHow he funded his acquisition through a community bankHis vision for the next 5 yearsLinks and how to contact Andrew:LinkedInBigger Pockets Real EstateBigger Pockets MoneyConnect with A-players who can run your business remotely:More StaffingGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds: See past + future interviews on the YouTube channel Connect with host Will Smith on LinkedIn Follow Will on Twitter

Paul Quirk acquired a $800k EBITDA window & door business in the UK, continuing to live with his family in Switzerland. Topics in Paul's interview:Paul’s experience with JP Morgan in Geneva3 biggest differences between acquisition in the UK vs the USThe variety of ways Paul reached out to businesses during searchHis decision to start the Buy and Build podcastHow he decided to buy a window/door installation businessThe changes he made to the company’s processesWhy he redesigned the company’s finance teamPros and cons of a “first day speech”His weekly commute between Geneva and Norwich, UKThe future of his own podcastReferences and how to reach Paul:Paul Quirk's LinkedInAmber Home ImprovementsBuy and Build podcast - Brad Nathan episode - Gerald Ratner episode - Simon Webster episodeOwned and Operated podcastThink Like an Owner podcastThe SMB OPS Show podcastRegister for a live gathering of SMB, Micro-PE, and ETA owners, operators and investors:SMBashLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Shortly after his first interview in June, Jason Andrews sold his business to a strategic buyer for a life-changing sum. Topics in Jason's interview:Jason's recent exit of the group purchasing organization (GPO) he acquired in 2016How he had grown the business 50-60% without increasing staffThe downside of buying a super-niche businessThe advantages of acquiring a bigger businessHow his sales background influenced the way he restructured the companyWhy he says “don’t pay down your debt too fast”How he finds support in a local business leader groupThe fun part of running his businessWhy you may need to reconsider your growth modelWhat’s on his post-exit bucket listJason's original appearance on Acquiring Minds:Buying a High 7 Figure Business with a Buy-Side AdvisorReferences and how to reach Jason:Jason's TwitterJason's LinkedInBuilt to Sell by John WarrillowOverhaul your website with ongoing support & unlimited edits, all for a flat monthly fee:EversiteGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Chirag Shah applied systems from his days as a product manager to find & acquire a dog-training business with $600k SDE. Topics from Chirag's interview:Chirag’s background as a small business underwriterHis experience in the Acquisition LabHow a virtual assistanct and a Notion database helped narrow his searchHis decision to buy a Sit Means Sit franchiseWhy 2021 was a banner year for dog trainingHow franchises compare in terms of flexibilityHow much he pays in monthly franchise feesThe dog training method Sit Means Sit usesWhy Austin, Texas, is a prime location for dog trainingHow Profit First influences his practicesReferences and how to contact Chirag:Sit Means SitProfit FirstTwitterLinkedInRegister for a live gathering of SMB, Micro-PE, and ETA owners, operators and investors:SMBashLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Brian Beers, owner of 30 Midas locations, teaches how to acquire an empire with seller financing for retiring owners. Topics from Brian's interview:How Brian’s family got him into owning Midas franchisesWhat makes the auto repair industry uniqueWhat kind of person would enjoy running a franchiseQuestions to ask before buying a franchiseHow seller financing is different with franchiseesService franchises vs retail franchisesHow to approach buying a franchiseHow a franchise broker can help youWhat makes a good operatorWhy buying small isn’t always badReferences & how to contact Brian:Brian Beers TwitterBrian Beers LinkedInBusiness with Beers PodcastGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamRegister for a live gathering of SMB, Micro-PE, and ETA owners, operators and investors:SMBashConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Tyler O'Connor bought a 20-year-old golf school he found on BizBuySell doing mid-7 figures with 35% margins. Topics in Tyler's interview:Why Tyler decided to buy a businessHow he got his wife on board with buying a businessThe two books he recommends to every searcherWhy he decided against buying a “boring” businessThe one worry that kept him up at nightWhy he had to decline an investor at the last minuteWhy he bought his first LOI: Bird Golf AcademyHis advice about who to invest withWhy he prefers older employees in his businessThe perks of owning a golf businessLinks & how to contact Tyler:Bird Golf AcademyBruce MarksHBR Guide to Buying a Small BusinessPursuant Capital Bootcamptyler@birdgolf.comLinkedInTwitterLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabOverhaul your website with ongoing support & unlimited edits, all for a flat monthly fee:EversiteConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Patrick Dichter shares his experiences and strategies in acquiring and growing a bookkeeping business. He discusses the factors that led to a 60% revenue increase in the first year, the shortage of accountants affecting the industry, and why rollups don't work in accounting. Patrick also shares insights on turning tax prep clients into year-round clients, the benefits of acquiring small businesses, and the challenges of offshoring tax prep. Additionally, he talks about the impact of marketing on acquiring new clients and the importance of accounting knowledge for successful acquisitions.

Multiple perspectives today as Chelsea Wood of the Acquisition Lab moderates a panel with 3 women who bought businesses. Topics from the panel:Cassie Niekamp bought the first company she looked at: a 40-year old fencing companyHow she dealt with a $200k valuation gapWhat went well with the transition and what didn’t go wellAnne Ristic left a 30-year career in law to buy a businessHow her collaborative leadership style has served herWhy it’s okay if you don’t have all the skills you needMorli Desai purchased an e-commerce skincare businessHer difficulty getting sellers to talk to herHow joining Acquisition Lab made all the difference in her searchAdvice from all the guests about successful acquisitionReferences and how to contact the panelists:Cassi Niekamp - LinkedInCassi's business, Bowden Fence CompanyMorli Desai - LinkedInMorli's business, Amaira Natural SkincareAnne Ristic - LinkedInAnne's business, AESChelsea Wood - LinkedInAcquisition Lab4000 Weeks by Oliver BurkemanBuy Then Build by Walker DeibelRegister for a live gathering of SMB, Micro-PE, and ETA owners, operators and investors:SMBashOverhaul your website with ongoing support & unlimited edits, all for a flat monthly fee:EversiteConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Jacob Lee signed up for 10 locations in the Scenthound franchise after deciding it was a better opportunity than search. Topics in Jacob's interview:Why starting franchise locations makes more sense than buying a businessReturn on equity in franchising vs. searchGetting over pride when choosing to franchiseHow Jacob selected Scenthound from 4,000 franchise optionsOther franchises Jacob consideredHow to analyze a franchise opportunity (especially a young one)All about Scenthound - concept, numbers, feesFranchising compoundsHow to build 10 units over 4 years (plus the 2 key hires that make it possible)Using SBA loans in franchisingReferences & how to reach Jacob:Jacob's Twitter thread cited in the interviewScenthoundBrent BeshoreTommy's Express Car WashThe Joint ChiropracticLinkedIn@jacoblee295j lee AT scenthound dot comGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamRegister for a live gathering of SMB, Micro-PE, and ETA owners, operators and investors:SMBashConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Jules Brenner searched for 2.5 years before buying a manufacturer with great tailwinds and a path to $100m in revenue. Topics in Jules' interview:Jules's background in mechanical engineering & California startupsStarting out with Searchfunder.comThe difficulty of searching during COVIDThe 4 tiers of manufacturing companiesWhat type of manufacturing business to buyHis deal with an architectural lighting manufacturer that fell throughSam Rosati's role as an advisorWhat Jules was doing wrong in his searchThe real purpose of a brokerHow sellers always gets what they wantAcquiring and growing American Sheet MetalResources and how to reach Jules:LinkedInEmail: jbrenner@industrialsuccession.comIndustrial SuccessionAmerican Sheet MetalLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabOverhaul your website with ongoing support & unlimited edits, all for a flat monthly fee:EversiteConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter