Learn How to Buy & Own Businesses

Acquiring Minds is a media platform all about buying, owning, and operating small businesses.

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Upcoming Webinars

Nov 1
Friday
Friday
Nov 1, 2024
How to Run a 2-Year Search in 2 Months
Increase the velocity of your deal analysis to arrive at "the one" faster, avoiding the notorious multi-year search.
With
Johannes Hock
Register Here

Webinar Recordings

Oct 24
2024
Thursday
Oct 24, 2024
Cap Tables 101: How Capital Structure Works When Buying a Business
How to structure a partnered search, structuring for outside capital, seller equity rolls, post-closing employee equity
With
James David Williams, William Barlow
Watch Recording
Oct 16
2024
Wednesday
Oct 16, 2024
Due Diligence Office Hours: IRS Form 8594, Important Tax Considerations, and Purchase Price Allocation
Get your due diligence questions answered by one of the most active diligence teams in the search & sponsor ecosystem.
With
Max Lummis, Olya Lumelleau, Travis Sadler
Watch Recording
Oct 10
2024
Thursday
Oct 10, 2024
Which Business Should You Buy?
Learn to identify your own value proposition as a future owner, and which types of businesses will most benefit from it.
With
Chelsea Wood
Watch Recording
Sep 27
2024
Friday
Sep 27, 2024
How to Hire an Operator to Replace Yourself
Dave Lewis recently hired & trained an operator to replace himself at the blue-collar business he'd run for 2.5 years.
With
Dave Lewis
Watch Recording
Sep 26
2024
Thursday
Sep 26, 2024
Deal Structure (and Its Legal & Tax Implications)
A session on asset vs. stock deals, F-Reorg, QSBS, S-corps, and other common tax questions asked by searchers.
With
William Barlow, James David Williams, Joshua Siegel
Watch Recording
Sep 20
2024
Friday
Sep 20, 2024
How Much to Budget for a Self-Funded Search
Searcher-owner Kaustubh Deo provides detailed numbers for the costs and time frames to conduct a self-funded search.
With
Kaustubh Deo
Watch Recording
Sep 19
2024
Thursday
Sep 19, 2024
Due Diligence Office Hours: Revenue Recognition, NWC Analysis, and Tax Diligence
The LCS team cover key diligence issues: revenue recognition, net working capital analysis, and tax due diligence.
With
Max Lummis, Olya Lumelleau, Travis Sadler
Watch Recording
Sep 12
2024
Thursday
Sep 12, 2024
How Big a Business Should You Buy?
A very frequent question of first-time business buyers in Acquisition Lab. Chelsea Wood explains how to think about it.
With
Chelsea Wood
Watch Recording
Aug 29
2024
Thursday
Aug 29, 2024
Common Legal Diligence Issues (and How to Handle Them)
A deep dive into the common sticking points that often occur in deals — and how to overcome them.
With
William Barlow, James David Williams
Watch Recording
Jul 25
2024
Thursday
Jul 25, 2024
How (and Why) to Choose a Franchise as an Acquisition Entrepreneur
Learn the merits of buying an existing franchise business & how to evaluate a franchise network from an ETA perspective.
With
Connor Groce
Watch Recording
Jul 19
2024
Friday
Jul 19, 2024
Overcoming Common Deal Sticking Points
A deep dive into the common sticking points that often occur in deals — and how to overcome them.
With
Bill Barlow, James David Williams
Watch Recording
Jul 18
2024
Thursday
Jul 18, 2024
Search Investor Roundtable, State of the Market
3 search investors on what they're seeing in the self-funded, independent sponsor, and traditional search landscapes.
With
Niklas James, Tony Cappaert, Adam Borcz
Watch Recording
Jul 12
2024
Friday
Jul 12, 2024
Due Diligence Office Hours: Quality of Earnings 101
An intro to QoE plus due diligence questions answered by one of the most active diligence teams in the ETA ecosystem.
With
Max Lummis, Olya Lumelleau, Travis Sadler
Watch Recording
Jul 11
2024
Thursday
Jul 11, 2024
SBA Lender Roundtable: State of the Market
3 lenders in discussion about what they're seeing out there in the market right now, good & bad.
With
Lisa Forrest, Matt Dolsky, Brad Hettich
Watch Recording
Jun 27
2024
Thursday
Jun 27, 2024
How to Buy a Business & Hire an Operator at Once
How Matthew Saskin bought a $5m towing business and, at the same time, found & hired an operator to run the day-to-day.
With
Matthew Saskin
Watch Recording
Jun 11
2024
Tuesday
Jun 11, 2024
DO's and DON'Ts of the LOI
How LOIs can stand out both for good & bad reasons and what you can do to get a competitive edge and avoid pitfalls
With
Bill Barlow, James David Williams
Watch Recording
Mar 26
2024
Tuesday
Mar 26, 2024
Working Capital for Searchers
What accounts it's tied to, how to calculate it, how to include it in your LOI, modeling working capital needs
With
Sam Rosati
Watch Recording
Feb 29
2024
Thursday
Feb 29, 2024
How to Raise Equity to Buy a Business, Part 2
Writing the teaser & memorandum, offering a private placement without violating rules, documents & sequencing the raise
With
Sam Rosati, Kevin Henderson
Watch Recording
Feb 22
2024
Thursday
Feb 22, 2024
How to Raise Equity to Buy a Business, Part 1
Learn the process of raising money from investors, how to find them, market terms, writing a term sheet, & doc templates
With
Sam Rosati
Watch Recording
Feb 2
2024
Friday
Feb 2, 2024
The Anatomy of an LOI
Paragraph-by-paragraph analysis of the LOI used for a real self-funded SBA acquisition. The LOI template is included.
With
Sam Rosati
Watch Recording
Jan 12
2024
Friday
Jan 12, 2024
How to Model a Self-Funded SBA Acquisition
Learn how to model a self-funded, SBA-financed search deal. You can download the model itself for use in your own deal.
With
Sam Rosati
Watch Recording

The Podcast

Oct 28
2024
Monday
Oct 28, 2024
Buying & Building a $60m Manufacturer
When, at age 29, Gat Caperton bought a furniture maker in his native West Virginia, he was also buying himself a career.
Gat Caperton
Oct 24
2024
Thursday
Oct 24, 2024
2 Years to Buy, Double & Exit a Medical Billing Firm
Nik Hulewsky bought a $3.2m medical billing company during peak Covid, anticipating a surge in demand. He was right.
Nik Hulewsky
Oct 21
2024
Monday
Oct 21, 2024
Small SDE, Big Upside: Buying a Business with 5 Employees
Kristiana Laugen left tech to buy a 40-year-old pool business with $300k SDE. Fast growth from a small base is the plan.
Kristiana Laugen
Oct 17
2024
Thursday
Oct 17, 2024
Leaving Amazon to Buy a $3m Apparel Brand
Tech industry vet Eric Bauer wanted to build something for himself. Buying a hat brand across the country was the path.
Eric Bauer
Oct 14
2024
Monday
Oct 14, 2024
Business Collapse After Going All-In
Justin Willess liquidated his 401k to buy a $8.5m construction business. He lost the business and may lose his house.
Justin Willess
Oct 10
2024
Thursday
Oct 10, 2024
Margins in Mulch: Buying a $1m Erosion Control Business
As a banker Greg Bruns dealt with business owners, wanting what they had. When a friend bought a business, he saw a way.
Greg Bruns
Oct 7
2024
Monday
Oct 7, 2024
The Model for a 3-Way, Long-Term Holdco
Marc Nzojibwami and 2 partners bought a business in Calgary, with a plan to keep buying (and without investor capital).
Marc Nzojibwami
Oct 3
2024
Thursday
Oct 3, 2024
Why Sell to Private Equity: Former Guest Has an Exit
Taylor Wallace & Tyler O'Connor return to discuss selling to private equity & the painful reality of managing people.
Taylor Wallace & Tyler O’Connor
Sep 30
2024
Monday
Sep 30, 2024
Turning Around a Blue Collar Business in Decline
George Tibil & Keith Fields bought a $1.1m janitorial business with falling revenues. 9 months later, sales are up 60%.
George Tibil, Keith Fields
Sep 26
2024
Thursday
Sep 26, 2024
When the Business Can't Be Saved: Resilience
Dustin Fusillo bought a struggling ATM parts & services business. Unhappily, the decline continued under his ownership.
Dustin Fusillo
Sep 23
2024
Monday
Sep 23, 2024
The Appeal of Franchise Buying: $1m EBITDA in 2 Years
Corey Robinson bought 4 locations in the legacy franchise Batteries Plus. He quickly bought 8 more, growing to $10m/yr.
Corey Robinson
Sep 19
2024
Thursday
Sep 19, 2024
One Year Into a Garage Door Business with $350k SDE
It was a revelation when Brittney Orellano heard about buying businesses. 6 months later, she'd done it herself.
Brittney Orellano

Sneak Peak: Upcoming Episodes

31
Oct 2024
Thursday
Oct 31, 2024
Buying a Business to Build a Life
Seattle-based Dan Drake & his wife wanted to raise their kids in Bend, Oregon. Buying a business allowed them to do it.
Dan Drake
04
Nov 2024
Monday
Nov 4, 2024
$6m Business, 3 Minutes From Childhood Home
Iris Levine bought a 30-year-old construction firm just steps from the rough Nashville neighborhood where she grew up.
Iris Levine
07
Nov 2024
Thursday
Nov 7, 2024
Buying a Job to Build a Business
When he realized he was willing to do the work himself, Matthew Railla bought a $500k SDE termite inspection business.
Matt Railla
11
Nov 2024
Monday
Nov 11, 2024
How 2 Entrepreneurs are Rolling Up a New Market
Francisco Del Rio & Diego Silva are 5 acquisitions into a venture to consolidate veterinary practices in Chile & beyond.
Francisco Del Rio & Diego Silva
14
Nov 2024
Thursday
Nov 14, 2024
Micro-Acquiring to $300k SDE on 5 Hours Per Week
Link Moser built a nearly-passive business portfolio by acquiring tiny web design & hosting shops on favorable terms.
Link Moser
14
Nov 2024
Thursday
Nov 14, 2024
Buying Blue Collar (But Automated & Asset Light)
Carley Mitus bought a home inspection business doing $380k SDE that runs leans & requires only 10 hours per week.
Carley Mitus

Why Entrepreneurship
Through Acquisition?

The riskiest time for a new business is the startup phase.

You’ve got no product, no revenue, no staff, no reputation. It can take years for a business to build those things, if it survives at all.

Now imagine an alternative scenario, where the risk and toil of those early years have passed. Where there are already paying customers, and people & processes in place to serve those customers.

A website with traffic, a phone that rings. The flywheel is already going.

That’s what it means to acquire an existing business. Your job is to improve and grow it, not breathe life into it.

For many entrepreneurs, this is a better fit. Better suited to their skills or station in life. More rewarding, more lucrative, even more fun.

What’s more, there are many trends in your favor.

An entire generation of retiring business owners are looking for an exit. Their businesses are established, sometimes decades old, and yet there is no successor to take the reins. Oftentimes when they finally do retire, they just turn off the lights, pull the door closed, and shut down the business.

What a waste.

Meanwhile, it’s easier than ever to start a business online, from FBA to Shopify stores to courses to affiliate blogs. Which means millions of people start online side hustles, only to lose interest or shift priorities.

In the right hands, these neglected businesses can not only survive but thrive.

And unlike getting a bank loan for a startup (near impossible), banks routinely lend to entrepreneurs who want to buy a profitable small business.

Which means you can finance an acquisition, then pay down the debt with the profits of the business itself.

Many people think “buying a business” is just for the wealthy, or private equity.

Not so.

Thousands of normal individuals acquire a business every year. This site tells their stories.

Not to say that it’s easy.

While buying a business can be a path to wealth, you will not get rich quick. It’s still entrepreneurship, with all the hard work and persistence that entails.

It’s just a different kind of entrepreneurship, one that is overlooked by a media fixated on billionaires and unicorns.

But one that offers the same rewards and professional fulfillment.

Acquiring Minds will open your mind to the possibilities.

FAQ

What type of person acquires a business?
display / hide FAQ question

There are so many that it’s hard to generalize.

But here are a few examples:

You have entrepreneurial energy but you don’t have an idea to pursue.

You’re a mid-career employee looking to pivot into being a business owner. You’re ready to take control of your own destiny but don’t have the years or financial resources to start a business from zero.

You have deep industry expertise that could be applied a small business in that industry to make it grow.

You have a specialized skill set — online marketing for example — that could be applied to a small business that is weak in that area.

You’re interested in a space, like e-commerce or manufacturing, and want to accelerate your education and participation in that space.

You weren’t looking to buy a business but an attractive opportunity has presented itself.

You already have a business but want to acquire another one in order to grow.

You want to build a portfolio of profitable businesses as a path to wealth.

Isn’t buying a business just “buying a job”?
display / hide FAQ question

For many people, yes, they do operate the business that they acquire. You’d call such a business buyer an owner-operator.

This isn’t a bad thing.

Most owner-operators acquired the business precisely because they wanted to actively improve and grow it. They may intend to later reduce their personal activity in the business, or they may continue operating it indefinitely. Or, they may themselves sell the business after growing it over a few years.

Regardless, they’ve realized their entrepreneurial aspirations and become their own boss.

People who want to acquire a business but not operate it are investors. This is a different acquisition strategy, but one that can be extremely rewarding as well. (Just ask Warren Buffet.)

Do I need expertise in the industry of the company I acquire?
display / hide FAQ question

Usually people have some related experience, but not always.

In that case, you should at least have a strong commitment to, and preferably a genuine interest in, learning the industry of the company you acquire.

You should not buy a business in an industry where you have no knowledge nor any interest in gaining it.

Can I buy a business with no money down?
display / hide FAQ question

Yes, it is possible. But “no money down” deals are not the norm and you should be wary of gurus promising that they’re easy to find.

That said, there are a variety of ways a “no money down” situation could occur.

The most common is a 100% seller-financed deal. That is, the current owner of the business sells it to you for $500k (for example) over a 5-year term. You pay $100k per year out of the profits of the business. At the end of 5 years you own the business outright, having put zero of your own money at risk.

This example is an oversimplification, but it does give you a sense of what's possible. Deals like this do happen with some frequency.

More often, however, a deal will be partially seller financed. So in our above example, you might have to pay $150k up front, then the remaining $350k over 5 years.