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The Acquisitions.com Community

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5 contributions to The Acquisitions.com Community
I just finished an incredible conversation with a couple who went from a limo driver and accounts receivable manager to owning three businesses—all within the past year.
They knew nothing about business acquisitions, but they jumped in with both feet. Here's their story: Meet Robert and Mila. Before this leap, Robert was a limo driver and Mila managed accounts receivable for an advertising firm. They were stuck in the 9-to-5 grind, tired of the stress, and ready to take control of their lives. When COVID hit, Robert lost his job, and they decided it was time for a change. With no backup plan, they took a massive risk by investing in a business acquisition program, even though they had no money. After months of searching, they found a hidden gem: a rundown convenience store just 5 minutes from home. But this wasn’t just any convenience store—it came with a post office and a U-Haul dealership. They saw potential where others saw failure. The numbers on the business didn’t make sense at first, but Robert and Mila believed in the location and the business model. They scraped together enough to make the deal happen, even though everyone thought they were crazy. Within months, they doubled their U-Haul fleet and started seeing growth across all areas of the business. They cleaned up the store, brought in new products, and treated their customers like gold. The result? Revenue started climbing. How did they do it? - They worked 12-hour days, 7 days a week, for months. - They reinvested every penny of profit back into the business. - They treated their customers with top-notch service, earning loyal repeat business. And now? Banks that once laughed at them are offering lines of credit to do more acquisitions. They’re not stopping here—Robert and Mila are already planning their next acquisition. Want the full story? I just dropped the full interview with Robert and Mila in my newsletter. We touch on: - How they financed their acquisition with almost no money - The challenges of turning around a failing business - Their future plans for expansion and more. - - Comment “Robert & Mila” and I’ll send you the link.
1 like • Aug '24
Robert & Mila
Cliff just closed a deal!
We talked to Cliff, who combined two businesses for a win in Jacksonville, FL. Here’s Cliff’s journey: — 📈 Cliff spent months searching through different industries before focusing on his local area. Persistence led to finding two businesses under one roof, worth $2.1M in revenue. — 💼 The purchase price was $1.1M, funded through an SBA loan. A clever move as the first six months of payments are covered by the government. That’s $60K back in his pocket! — 🛠️ Key to success: Targeting local, established businesses ready for retirement. Cliff found two owners wanting to sell, ensuring a smooth transition. — 🌟 Retaining one of the previous owners as an employee for five years to mentor and guide the transition. Protecting their legacy and ensuring stability for employees. — 📊 Due diligence was thorough. Cliff worked with an SBA attorney and a CPA who deferred payment until closing, ensuring all financial and legal aspects were covered. — 🏢 Building rapport: Multiple Zoom calls with the business owners, emphasizing employee care and legacy protection. They chose Cliff for his commitment to their team. — 🚀 Growth plans include modernizing their outdated website and implementing a strategic marketing plan. Targeting to double the revenue to $5M in 4-5 years and then sell for $6M. — Never quit. Cliff’s journey is proof that with patience, persistence, and the right strategy, you can achieve incredible success. — If you enjoyed this, comment "Business" below to get this interview and others like it.
0 likes • Aug '24
Business
Just had an amazing chat with my buddy Tyler, a true hustler in the business world.
He shared his journey of acquiring and growing companies using our help. Check this out! 🧵👇 Tyler started with a small home healthcare company and aimed to grow through acquisitions, even during COVID. He targeted home health entrepreneurs with an email campaign. Smart move! 💡 Tyler's first success? Came from sending 270 emails, got 11 solid conversations, and 3 financials using our scripts. One company worth $19M showed interest! 😲 Why would someone sell a $19M company? Simple. They want to enjoy life and spend time with family. Lesson? Understand people's motivations. ❤️ That deal didn’t close, but it gave Tyler the confidence to pivot to real estate. Passion is crucial! 🏡 Tyler partnered with someone in real estate. Authentic conversations led to a partnership where they achieved incredible goals together. Teamwork makes the dream work! 🤝 Another venture? The nail industry! Partnered with a nail artist making $250K. They’re now helping others achieve the same success. 💅 Tyler’s secret? Skill stacking and problem-solving. Every challenge is a learning opportunity. "Acquisitions teach you how to think." 🧠 Daily habits? Gym, routine calls, green tea, and finishing tasks no matter what. Discipline is key! 🏋️‍♂️ Advice for newbies? Trust the process. Be ready for new challenges. "Put other people’s problems before yours. Success will follow." 🌟 Deal flow strategy? Used Facebook groups, state lists, virtual assistants. First campaign cost $1,000 but got quality leads. 📧 Financing? No big checks upfront. Focused on setting systems and valuable partnerships. 💪 Financials? Tyler's first acquisition showed potential with a small investment. Results: 270 emails, 110 opens, 30 replies, 11 solid conversations, 3 financials. Analysis: These numbers show great ROI for small outreach. Tyler connected with high-value companies. Improvement? Scale this approach, refine targeting, and follow-up. Business growth? Tyler aims to uplift over 100 people to six-figure incomes, manage multiple companies, and give back to the community. 🚀
1 like • Aug '24
Tyler
Just wrapped up a chat with Kevin, a sales exec turned fireplace business owner
He just bought a $3.1M revenue fireplace company. Here’s his story: Meet Kevin. Kevin has a strong sales background but craved something more hands-on. After COVID, he noticed a surge in home improvement projects and decided to dive into the fireplace industry. Kevin started working with acquisitions.com to find the right deal. It wasn’t easy – finding the perfect business took time and persistence. He spoke with countless brokers and owners, perfecting his pitch along the way. He finally closed a deal on a fireplace business with $3.1M in revenue. The negotiation was smooth, with Kevin offering a fair price and structuring the deal with the seller holding back some paper to help with the SBA loan. Why this business? The previous owner was burned out and eager to sell. Kevin saw the potential for growth through improved systems and better leadership. Kevin's strategy? Streamline operations and empower employees to make decisions. He’s introducing new software and processes to boost efficiency and plans to bring in new talent to replace retiring employees. Kevin’s tips: 1. Take action, even if it’s not the perfect deal. 2. Leverage your background and experience to identify and fix issues. 3. Build a strong network of brokers, bankers, and advisors. 4. Stick to a morning routine to stay focused and motivated. Kevin’s journey shows the power of persistence and strategic planning. His transition from sales exec to fireplace business owner is truly inspiring. Want the full story? I just dropped the full interview with Kevin in my newsletter. We touch on: - How Kevin financed his acquisition - How he managed the business transition - The challenges and rewards of his journey - And more. Comment “Kevin” and I’ll send you the link.
1 like • Aug '24
Kevin
Just finished a chat with Eric, a dentist turned construction business owner.
Within two years, he acquired a $4M revenue construction company. Here’s his story: Meet Eric. Eric started as a dentist in Colorado but wanted a change. Pre-COVID, he eyed the construction industry, seeing its resilience and growth potential. Lockdowns pushed him further into this new path. Eric started working with acquisitions.com searching for the perfect deal. The journey wasn’t easy – banks and sellers hesitated due to his lack of experience. But Eric persisted, learning, deal flow strategies, and evaluating countless businesses. He finally closed a deal on a construction company with $4M in revenue for $1.2M, including real estate. The deal was financed with a $1M SBA loan and a $200K down payment split from an investor. Why this business? The seller was overworked and eager to sell, lowering the price from $1.5M to $1M. Eric’s offer of $900K plus real estate sealed the deal. He knew it was a great value, given the high multiples usually seen in the industry. To manage the business, Eric hired experienced professionals and promoted internal talent. This move was crucial since he lacked construction experience. His partner’s wife also stepped in to handle day-to-day operations. Eric’s plan? Grow the business by accepting more contracts and improving operational efficiency. He’s focused on scaling by setting up systems and getting the right people in place. Eric’s tips: - Don’t fear asking for financial help. Investors and banks want to make money too. - Offer confidently, even if it seems low. - Surround yourself with industry experts if you lack experience. Eric’s journey shows the power of persistence and strategic planning. His success in transitioning from dentistry to construction is inspiring. Want the full story? I just dropped the full interview with Eric in my newsletter. We touch on: - How Eric financed his acquisition - How he managed the business transition - The challenges and rewards of his journey - And more.
1 like • Jul '24
Eric
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Felix Gershtein
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Active 6h ago
Joined Jun 3, 2024