Key Points From the Interview
ost acquisition entrepreneurs I talk to start searching for a business to buy, and are not open to buying an existing franchise.
But I have also heard from a number of you that, as your search progressed, you eventually opened your minds to it. And in doing so, availed yourselves of many enticing opportunities.
Today's guest Doug Johns is a great example.
Doug started his search looking for a business doing between $750k and $2m in EBITDA — sizable for a searcher.
And naturally he was thrilled when he saw a great one...
Until realizing it was a franchise.
Flash forward, Doug and his wife overcame their reservations and today own one of the top-selling Mr. Rooter businesses in the country.
It does nearly $2m in EBITDA with 50 employees.
It is a big, healthy, mature business — just what so many of us would love to buy.
So if you've been curious about buying an existing franchise business — actually, especially if you have NOT been curious about it — this interview will open your eyes.
Doug Johns was where you are, but softened his position when the right opportunity came along and has been rewarded handsomely.
August Felker is a 2-time successful searcher — first with a traditional search fund; the second time around, he did a self-funded search.
Today August runs Oberle Risk Strategies, an insurance firm with a dedicated practice group for searchers and acquisition entrepreneurs like you.
If you've got a business under LOI, Oberle will provide complimentary due diligence on that business's insurance and benefits program. A great, no-risk way to get to know August & team.
They love helping searchers; they've worked with hundreds. Oberle is a specialty insurance brokerage for searchers, by a former searcher.
Check out the Search Fund Team at Oberle.