Buy & Build a Trash Business to a $4.4m Exit

April 8, 2024
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Y

ou ever listen to Acquiring Minds and feel discouraged that you don't have an MBA or a background in finance?

This episode is for you.

Patrick Norris went from Marine, to garbage man, to manager of a local trash company, to...

...buyer of his own trash business.

He bought a small one, just $625k in revenue. A little family business with a burned-out owner.

Patrick bought it (for a song, by the way), grew it, and sold it for $4.4m five years later.

And oh by the way, he'd also generated $1m dollars cash for himself in the meantime.

Now, despite not being a finance guy, Patrick did have a distinct advantage:

He knew trash.

But! As you'll hear, that might have also been a bit of a disadvantage because it pulled him into the business when he may have been better served working on the business.

Lesson being: Just as important as the particular skill set you bring to a business is exactly how you leverage those skills as its new owner.

See what you think.

And see what you think of the trash business. We spend a lot of time just learning the industry, which was a joy.

I loved this interview and think you will too.

Here's Patrick Norris, former owner of Mr. Trashman.

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Buy & Build a Trash Business to a $4.4m Exit

Patrick Norris bought a small trash business doing $625k. Five years later and 4.5x bigger, a strategic got interested.

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Key Takeaways

Introduction

Listen to the introduction from the host
Y

ou ever listen to Acquiring Minds and feel discouraged that you don't have an MBA or a background in finance?

This episode is for you.

Patrick Norris went from Marine, to garbage man, to manager of a local trash company, to...

...buyer of his own trash business.

He bought a small one, just $625k in revenue. A little family business with a burned-out owner.

Patrick bought it (for a song, by the way), grew it, and sold it for $4.4m five years later.

And oh by the way, he'd also generated $1m dollars cash for himself in the meantime.

Now, despite not being a finance guy, Patrick did have a distinct advantage:

He knew trash.

But! As you'll hear, that might have also been a bit of a disadvantage because it pulled him into the business when he may have been better served working on the business.

Lesson being: Just as important as the particular skill set you bring to a business is exactly how you leverage those skills as its new owner.

See what you think.

And see what you think of the trash business. We spend a lot of time just learning the industry, which was a joy.

I loved this interview and think you will too.

Here's Patrick Norris, former owner of Mr. Trashman.

About

Patrick Norris

Patrick Norris

Show Notes

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Patrick Norris bought a small trash business doing $625k. Five years later and 4.5x bigger, a strategic got interested.

Topics in Patrick’s interview:

  • Why acquiring a trash business is easier than starting one
  • Intricacies of trash disposal pricing
  • Niches within trash services
  • Competition and cooperation in trash services
  • The first question you should ask when considering a trash business
  • Why he regrets not hiring a manager
  • Hiring for dangerous, strenuous jobs
  • 4xing revenue through customer service and Google ads
  • The cycle of building and selling a trash business
  • Buying a business without an MBA

References and how to contact Patrick:

Get a complementary pre-acquisition HR & PEO review for your target business:

Learn more about Walker Deibel's done-with-you buy-side advisory:

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Episode Transcript

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