Acquiring Minds

Dan Burnside thought he got a great deal on an $800k SDE business. Instead he'd bought bad faith and years of struggle.
Register for the webinar: 
 Add-Ons and Carve-Outs: How to Get Banks on Board - TODAY!! - https://bit.ly/4sO0MAt
Topics in Dan’s interview:
Buying in a small, rural area
Discovering seller fraud after acquisition
Key employee leaves and starts competing business
Working to integrate himself into the community
HVAC techs resisted technology changes
Wife and kids unhappy in the new place
Getting his Master Mechanical Contractor license
Customers not paying their invoices
Hiring challenges in rural areas
Bankruptcy and his new AI venture
References and how to contact Dan:
LinkedIn
Jan Roll on Acquiring Minds: 21 Months to Stability Buying a $1.2m SDE Business
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Get a free review of your books & financial ops from System Six (a $500 value):
Book a call with Tim or [email protected] and mention Acquiring Minds
The ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business:
The Acquisition Lab
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Edited by Anton Rohozov and produced by Pam Cameron

Jeff Flannery is a great example of how franchising complements ETA, having rolled up 17 units since starting in 2019.
Register for the webinars: 
Advanced Deal Mechanics: NWC, Net Debt & Purchase Price Adjustments - TOMORROW!! - https://bit.ly/4u9KyD6
Add-Ons and Carve-Outs: How to Get Banks on Board - Thu, Apr 30 - https://bit.ly/3OpzRgx
Topics in Jeff’s interview:
Difference between a practice and a business
18 years of running a procurement recruiting firm
Acquiring a failing Hand and Stone location
Improving the franchisee playbook
Ask franchisees for the actual profit margins
Mastering the business from the bottom up
Working 100-hour weeks for years
Implementing enrollment fees
Running spas in California through Covid
Building an inbound and outbound offshore call center
References and how to contact Jeff:
LinkedIn
[email protected]
Hand & Stone
Download the New CEO’s Guide to Human Resources from Aspen HR:
From this page or contact [email protected]
Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:
Pioneer Capital Advisory
Get a complimentary IT audit for acquisition diligence or post-close transition.
Visit inzotechnologies.com/eta.
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Edited by Anton Rohozov and produced by Pam Cameron

Nicolás Lulli bought a document storage business in Peru. 6 years later, it is a $25m leader in the Andean region.
Register for the webinar: 
Advanced Deal Mechanics: NWC, Net Debt & Purchase Price Adjustments - Tue, Apr 28 - https://bit.ly/490Ms0q
Topics in Nicolás’s interview:
First employee at Relay Investments search fund
Launched Peru’s first search fund, Colca Capital
Covid lockdowns erased profits almost overnight
Rebuilding the business into a tight submarine
From $0 EBITDA to $5m in one year
Shifted focus toward acquisitions for faster growth
Records storage is a real estate business
Invests in other searchers to pay it forward
The cradle-to-grave strategy in records management
Building a searcher community in Peru
References and how to contact Nicolás:
LinkedIn
Colca Capital
Get a complimentary IT audit for acquisition diligence or post-close transition. 
Visit inzotechnologies.com/eta. 
The ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business:
The Acquisition Lab
Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:
Pioneer Capital Advisory
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Edited by Anton Rohozov and produced by Pam Cameron

Greg Hirsch wants more seasoned professionals to understand how valuable their experience can be to an ETA journey.
Topics in Greg’s interview:
Fifteen years learning systems at Sysco Foods
Failed startup revealed builder, not founder path
Helped scale trucking roll-up through industry consolidation
Revisiting his “heck no” pile
Invests in timeless blue-collar essential industries
Late-40s searches benefit from life experience
Spouse alignment essential before risking family security
His wife’s perspective on the process
Growth comes from removing operational friction
His wife’s perspective on the process
References and how to contact Greg:
LinkedIn
Hirsch Ventures
Get a free review of your books & financial ops from System Six (a $500 value):
Book a call with Tim or [email protected] and mention Acquiring Minds
Download the New CEO’s Guide to Human Resources from Aspen HR:
From this page or contact [email protected]
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Edited by Anton Rohozov and produced by Pam Cameron

Thanks to strong business-buyer fit, Joe Wynn negotiated great terms to acquire a $600k SDE sales & service business.
Register for the webinar: 
Real Estate Issues When Buying a Business - TODAY!! - https://bit.ly/4smYdoQ
Topics in Joseph’s interview:
Trading a mid–six-figure salary for business ownership
Wanting to “build his own ladder” instead of climbing someone else’s
Buying a medical equipment distribution and service company
Designing and outfitting hospital operating rooms
45% net margins on $2M in revenue
Raising service prices 20–50% in his first six weeks
Navigating “lumpy” project-based revenue cycles
Structuring a $1.35M deal with seller financing
Putting only $120K down with no personal guarantee
A post-closing banking freeze that forced him to cover payroll
References and how to contact Joseph:
LinkedIn
Surgical Specialties of Georgia
Iris Levine on Acquiring Minds: $6m Business, 3 Minutes From Childhood Home
Brian Hartman on Acquiring Minds: The Path from $2.5m to $60m in a Tree Business
The ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business:
The Acquisition Lab
Get a complimentary IT audit of your target business:
Email Nick Akers at [email protected], and tell him you’re a searcher
Download the New CEO’s Guide to Human Resources from Aspen HR:
From this page or contact [email protected]
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Edited by Anton Rohozov
Produced by Pam Cameron