Key Points From the Interview
oday's story might make you want to buy a franchise business.
Corey Robinson shifted his attention to buying businesses after a successful run as a real estate investor.
He'd amassed 140 properties, but even a portfolio of that size didn't cashflow enough to replace his W-2 income.
He heard about buying businesses from his mastermind group, and got busy.
Corey bought a portfolio of 4 Batteries Plus locations in November 2022. Less than 2 years later, he's grown from that base to 12 locations total, and as of this recording, he's got 2 more under LOI.
So Corey was a guy with a corporate job just 2 years ago.
Today's he's got 12 Batteries Plus locations and growing, doing about $10m in revenue and over $1m in EBITDA. Not bad.
We go deep on the topic of programmatic acquisition in a franchise system. How it can be a great strategy to move fast, as he's done.
Now, there is a second chapter to Corey's story, which we get to toward the end. His confidence bolstered by his success with Batteries Plus, Corey then bought a $4m HVAC/plumbing business, this one independent.
That acquisition did not go very well. You'll hear why.
And it sobered him up a bit.
These last 2 years have been incredibly productive for Corey on paper, but it has taken a toll on his personal life, on his health, on his family.
Reflecting back, he believes moving a little more slowly, more thoughtfully may have served him better. Listen for his reflections there.
Finally, on the strategy of buying info a franchise network, Acquiring Minds recently hosted a deep-dive webinar on the topic. You'll find it on our website, acquiringminds.co, in the webinars section. Highly recommend you watch that presentation with Connor Groce.
OK, please enjoy this interview with Corey Robinson, owner of 12, soon to be 14, Batteries Plus stores and an independent HVAC & plumbing business.