n 1984, National Geographic had recently launched a travel magazine as a new title. It was called Traveler.

‍My mother was on staff at Traveler in those years, and in the summer issue of 1984 is a piece that she authored on Charlottesville, Virginia.

And in that piece, my mom writes of staying in a lovely historic home, a bed and breakfast:

‍“Bed-and-breakfast stays at such historic homes, as well as at some luxurious estates scatteredthroughout the city and county, are available through Charlottesville’s Guesthouses Bed andBreakfast, Inc.”

‍Words my mom wrote in the early 80s.

‍Well last summer, today's guest Megan McGee bought that very business, Guesthouses.

I’ll spare you the details of how we pieced this together, but suffice it to say, a remarkable coincidence.

‍Not to mention a testament to the longevity of many of the businesses that entrepreneurs like Megan, like you, acquire.

That history you find in some of these businesses is one of my favorite features of entrepreneurship through acquisition.

Today's story is one that starts with a traditional search fund and ends with Megan's self-funded search and acquisition.

It was a business that checked new boxes that had emerged for her over a multi-year search, and one she bought with only $75,000 out of pocket and no SBA loan. Listen for how she structured things.

Megan bought quite small, and in an operationally-complex business.

But despite the reputation of such businesses, it has not overwhelmed her, and she is able to pay herself a full salary and a distribution besides.

There is much to learn from Megan McGee's nearly-five year journey to become a business owner. Please enjoy.