or many guests on Acquiring Minds, buying a business is a path to a lifestyle.

It's part of a larger vision of what they want for their career, their time, their family.

Today's guest is a shining example.

Dan Drake and his wife wanted to move to Bend, Oregon.

Transplants from the Midwest, they were living in Seattle but really had their heart set on settling down and raising kids in Bend, that beautiful, growing community of 100k in Central Oregon.

Also, having children, and going from parental leave back to the rigidity of work when that leave ended, made them value flexibility more than ever.

And finally, becoming part of a community. Dan was drawn to how being a business owner can embed you in the fabric of a region.

So, when he decided to search, his geographic criterion was tight: just Bend, Oregon, and the surrounds.

Which meant he was likely going to have to compromise on other criteria.

And he did — on size.

The business he bought generates around $140k in SDE and has 3 employees.

Dan Drake with the Industrial Applied Electric team
Closing Day: Dan Drake with the IAE Team

Now there is obviously a lot of risk there, which Dan and I spend time on.

But recall: there is a vision.

So some of that risk is absorbed by Dan's commitment, by his intention to not just generate a return but to truly become a member of the Central Oregon business community.

As a CPA, Dan is as cognizant of the numbers as anyone, of the quantitative elements of this business.

But he's also factoring in the qualitative elements of what owning this business will do for his & his family's life.

Here he is, Dan Drake, owner of Industrial Applied Electric.