quare peg in a round hole.
This is how Fraser Voll had always felt professionally, until a friend told him about buying a business.
It was a lightbulb moment for Fraser, the same one that so many of my guests have when they first learn about acquisition entrepreneurship.
Flash forward, and Fraser is the new owner of a 50-year-old janitorial business in Niagara, Ontario, that does $2m in annual revenue.
Listen closely to the section where we discuss the earnout that he structured for his acquisition.
The business had 2 big risks β customer concentration & recent COVID growth β and Fraser was careful to structure his deal to mitigate them.
You're also going to learn about commercial cleaning businesses, which are a perennial favorite among searchers.
In an industry with notoriously tight margins, Fraser's business is doing $600k to $800k in SDE on its $2m in revenue. He explains how they're able to get these enviable 35% margins.
By the way, for 2 other great acquisition stories about commercial cleaning, see episode 72 with Chris Munn and episode 78 with James Maxwell.
OK, enjoy this awesome story of a dream fulfilled with Fraser Voll, the new owner of Regional Janitorial Services πππ
Sponsors
August Felker is a 2-time successful searcher β 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.
