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I quit my W-2 job in August 2021. After ~16 months searching with many highs and lows, I'm proud to announce that I closed on my first business acquisition! 🥳 Existing Franchise ✅ Seasonal business ✅ Zero cash inflow until March 😬✅ Personal Guarantee (3x) ✅
Based upon my market research (aka morning run), there is no slowdown in residential home services in Monmouth County NJ. Roofers, sidings, gutters, landscaping, etc all active on Saturday!
I own a "boring", service based, small business. Rest assured, there is nothing boring about the every day knife fight that is SMB ownership.
If you can't respond to leads in under 24 hrs, you should stop paid social ads. You're just wasting money! [My take as a SMB owner who is waiting for a call back but keeps seeing the same social ads....]
Any SMB owners switched from ADP to Gusto (or know someone who has) and would be willing to speak with me?
How long does it take to transfer a lease with Ford Motor Credit? 2.5 months 20+ phone calls 3 physical signatures required via the mail $135 transfer fee And it's still not done yet! They assure me this is the last set of documents to sign....
When dealing with hundreds of customers it's easy to focus on the complainers and feel like you can't do anything right. It's good to get feedback like this as a reminder that in general your customers are happy! Don't let the squeaky wheel get all the attention.
The last 2 yrs of my life summarized into a 1 hr podcast (!!). Props to @whentheresawill for pushing for concrete operational examples in addition to covering my search journey. spotify.link/AdPVr6VeXDb
Heading home after spending the weekend at the Mosquito Joe annual owners conference. Incredible the amount you can learn from your non-competitor peers. Feeling rejuvenated and ready to improve next season. DONT sleep on franchises...I assure you they are real businesses!
New episode! - Buying a $3m Candle Manufacturer That Had No Books - Chad Hildebrant knew the best deals have hair on them. The trick is finding the right hair, turning red flags green. youtube.com/watch?v=7xqU6f…
youtube.com
YouTube
How to Buy a $3m Business with No Books | Chad Hildebrant Interiew
Fantastic listen, not only about franchises, but also with highly applicable themes to ETA in general spotify.link/Ed3JS4CJxDb @whentheresawill
As of last evening, this was not even in the forecast for today. Weather dependent businesses are hard... And stressful!
Anyone looking for a fire and water restoration business for sale? We have a nice set of 3 SERVPRO franchises coming to market in North Texas and Oklahoma. $5.7m revenue $1.2m adj EBITDA DM me your email and I'll get you the rest of the info!
Latest Chenmark newsletter (subject - "Required reading") is fantastic. If you are in a search process or jumping on the HoldCo bandwagon, stop what you are doing and read it (or Brent's excerpt below)
Buying and operating SMBs can be extremely rewarding. Also, it's wild what can and will happen when messy leaders work with messy employees and vendors to serve messy customers. It's always a mess. Grateful for @chenholdco sharing some anecdotes. I have hundreds to add.
Apparently if you have a lane departure warning system on your Ford Transit Connect van, it costs 2x as much to get the windshield repaired. Ask me how I know 🙄
GPS tracker has technician at the customers house. Customer says technician did not appear on their Ring and yard cameras. Who do you believe?
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