Dream Fulfilled: Buying a $2m, 50-Year-Old Business

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 — customer concentration & recent COVID growth — 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 👇👇👇

Sponsors

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.