Key Points From the Interview
pon meeting the seller of Lodging Source, a 20-year-old corporate travel business, today's guest knew he wanted to buy it.
So in addition to the story of how Dan Angel did in fact buy it, we also unpack what he liked so much.
This corporate travel agency has a great model and strong value proposition for its clients.
Not to mention nice margins: it had generated $900k of SDE on $3m in top line revenue the year before Dan bought it.
It has also a fantastic number-two, the VP who'd been there for 15 years.
And a key factor in Dan's success with his acquisition was the buy-in from this key woman, Jayme Moylan.
Jayme's sense of ownership was strong, as was her protectiveness of the team.
And she was blindsided by the news of the sale.
So we're doing something new today: we're hearing not just from our buyer Dan, but from Jayme as well.
We get her first-person account of what's like on the other side of the stories we tell here on Acquiring Minds. To be the key woman in a small business, and learn it's been sold. To meet and adjust to the new guy from outside the industry.
It's a fascinating listen, and while you'll recognize many of the patterns, I hope you agree that they have particular force coming directly from an affected employee.
I want to thank Dan for his idea to bring Jayme into this process, and of course Jayme for being game.
Here they are: first Dan Angel, owner of Lodging Source, then Jayme Moylan, VP at Lodging Source.
