How to Buy a $20m Business as a First-Timer

June 8, 2026
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I

t's hard to re-enter the corporate world after being out of it for seven years.

Especially if you're in your 50s.

This was the situation that today's guest Alan Turkus found himself in.

But what that uncomfortable phase prompted Alan to do was revisit an idea he'd had in the back of his mind from his business school days: buy an existing business.

Now that prospect wasn't just a workaround to find a job.

It was about the fact that Alan's level of experience — having run business units at Amazon, P&L experience — meant he sought meaty management responsibility.

Owning your own business, especially one that does $20m and employs 150 people, is certainly that.

We discuss in detail the financials for how he was able to acquire such a large business. (Yes, he had investors; we learn who they are.)

We discuss doing this with an SBA loan.

We explore Alan's attempt to use ROBS, and why it wouldn't work.

This is a franchise business, so we learn Alan's thoughts there. (Hint: like many of you probably, he never thought he'd be a franchisee.)

And finally, we discuss purpose.

Alan's search ended not when the quantitative considerations lined up, but when the qualitative stuff did. There is mission to the home healthcare and hospice business that Alan bought, and it was exactly that that had been missing from the other deals he looked at.

Here is Alan Turkus, owner of Interim Healthcare of the Twin Cities.

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How to Buy a $20m Business as a First-Timer

When Alan Turkus found a business with a mission, he knew he'd found the right fit for the final chapter of his career.

Key Takeaways

Introduction

Listen to the introduction from the host
I

t's hard to re-enter the corporate world after being out of it for seven years.

Especially if you're in your 50s.

This was the situation that today's guest Alan Turkus found himself in.

But what that uncomfortable phase prompted Alan to do was revisit an idea he'd had in the back of his mind from his business school days: buy an existing business.

Now that prospect wasn't just a workaround to find a job.

It was about the fact that Alan's level of experience — having run business units at Amazon, P&L experience — meant he sought meaty management responsibility.

Owning your own business, especially one that does $20m and employs 150 people, is certainly that.

We discuss in detail the financials for how he was able to acquire such a large business. (Yes, he had investors; we learn who they are.)

We discuss doing this with an SBA loan.

We explore Alan's attempt to use ROBS, and why it wouldn't work.

This is a franchise business, so we learn Alan's thoughts there. (Hint: like many of you probably, he never thought he'd be a franchisee.)

And finally, we discuss purpose.

Alan's search ended not when the quantitative considerations lined up, but when the qualitative stuff did. There is mission to the home healthcare and hospice business that Alan bought, and it was exactly that that had been missing from the other deals he looked at.

Here is Alan Turkus, owner of Interim Healthcare of the Twin Cities.

About

Alan Turkus

Alan Turkus
Alan Turkus

Show Notes

Episode Transcript

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