Raising $800k to Buy an $8m Business as a First-Timer

June 5, 2023
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y big takeaway from today's interview is how quickly someone can transform their life when they buy a business.

Kevin Bibelhausen suffered a Covid-related health scare in 2021 that caused him to re-evaluate things.

He'd flirted with buying a business before, but after this scare... carpe diem; he got serious about it.

Today, just 2 years later, Kevin:

  • Raised $800k from investors that he did not already know...
  • To buy a business valued at almost $8 million...
  • Moved from Dallas to North Carolina to take over the business...
  • Is now owner & president of this 20-year-old wholesale fabrics business that does almost $10 million a year in sales...
  • And is the general partner in a fund to invest in other searcher deals himself.

Not bad for 2 years of work.

And, Kevin was pretty much starting from a standstill. He's not former finance; he didn't have money himself when he started.

Those of you who heard the recent episode of the SMBash panel will recognize Kevin; he was one of the 2 panelists on stage.

And I think you'll agree he was a good choice; Kevin is forthcoming and accessible and an example of how diving in and figuring it out as you go can yield tons of progress in a short amount of time.

Here is Kevin Bibelhausen, owner of Heritage Fabrics:

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Raising $800k to Buy an $8m Business as a First-Timer

With no finance background, Kevin Bibelhausen learned to raise money from investors & buy a 20-year-old fabric business.

Key Takeaways

Introduction

Listen to the introduction from the host

y big takeaway from today's interview is how quickly someone can transform their life when they buy a business.

Kevin Bibelhausen suffered a Covid-related health scare in 2021 that caused him to re-evaluate things.

He'd flirted with buying a business before, but after this scare... carpe diem; he got serious about it.

Today, just 2 years later, Kevin:

  • Raised $800k from investors that he did not already know...
  • To buy a business valued at almost $8 million...
  • Moved from Dallas to North Carolina to take over the business...
  • Is now owner & president of this 20-year-old wholesale fabrics business that does almost $10 million a year in sales...
  • And is the general partner in a fund to invest in other searcher deals himself.

Not bad for 2 years of work.

And, Kevin was pretty much starting from a standstill. He's not former finance; he didn't have money himself when he started.

Those of you who heard the recent episode of the SMBash panel will recognize Kevin; he was one of the 2 panelists on stage.

And I think you'll agree he was a good choice; Kevin is forthcoming and accessible and an example of how diving in and figuring it out as you go can yield tons of progress in a short amount of time.

Here is Kevin Bibelhausen, owner of Heritage Fabrics:

About

Kevin Bibelhausen

Kevin Bibelhausen
Olivia Rhye
Product Designer

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