Host: Welcome to Acquiring Minds, a podcast about buying businesses. My name is Will Smith. Acquiring an existing business is an awesome opportunity for many entrepreneurs. And on this podcast, I talk to the people who do it. Today's episode is with Tyler Dyke. Tyler acquired a small manufacturing business from a retiring owner. That owner was 80 years old. Tyler was about 30 at the time. This was a couple years ago, and the owner was running the business kind of on handshakes and scraps of paper. So it wasn't exactly a super tight ship that Tyler was considering acquiring. What I really like about this story is, is that because of the way the business was run, there was just no way that Tyler was going to be able to do exhaustive due diligence and eliminate all risk and get all of his questions answered. At some point, he just needed to take a leap of faith, which is what he did. I find in my own life that I often try to eliminate all risk when making a business decision, and that's just not realistic. And I think it slows me down and gets in. I get in my own way there. So I think there's definitely something to be learned from the philosophical approach that Tyler took to this deal. So without further ado, here is Tyler Daikhe's story. So, Tyler Daikhe, thanks for joining me today.

Guest: Yeah, thanks for having me.

Host: So you acquired a fiberglass manufacturing company and you didn't know really anything about fiberglass. So what I really want to hear about your story of acquisition entrepreneurship is obviously just the story itself, but really about how you got comfortable buying something that you were kind of an outsider to, and also just how you decided to buy something rather than start something from scratch. Because I know you'd started a company before making this acquisition. So why don't we just kick it off by just give us a quick intro, like who you are, and then give us the backstory that led to the acquisition of Blackhawk Fiberworks.

Guest: Sure, sure. Yeah. I'm Tyler. I own Blackhawk Fiber Works, another company called Maverick Lawn Care. We do lawn and landscape. And I have another company, Blackhawk Equipment, that we just started last year.

Host: Cool.

Guest: From. From Southern Minnesota. Grew up here. You know, like a lot of other people, you get told, go to school, you know, go to college, get a job, you know, and happily ever after type deal. But, you know, after a while working in the corporate America and industrial engineering kind of got, you know, you look at where you're going and getting promoted and things like that, and then at some point, you look forward and you're like, you know, I just don't, you know, this isn't gonna fulfill me for the rest of my life type thing. So, you know, I had a little taste of entrepreneurship with the lawn company. And you know, I've been thinking of, you know, people, people think of inventions and things like that. You know, what could you turn into a business? What would be fun to do? You know what I mean?

[3:23] Host: Sure.

Guest: But it never really occurred to me until, you know, I don't know, it was about eight, nine years into my career and I'm just like, oh, you know, I know all this stuff about manufacturing and you know, I have enough of a flavor of owning a company to, you know, take the next step and you know, rather than trying to start something from scratch, which you really can't do when you got three kids and a wife and a house and all the kind of stuff you gotta, you know, you can't, like, oh, I can't, I'm not gonna have a paycheck for like the next, you know, six months to a year, you know. So after that, that point, you know, I just contacted a broker and, you know, we just started poking around at companies that I would like to, you know, own or manage, you know, I mean, just around town. Weren't even for sale.

Host: Well, let me, before we dive into the search, because I do want to dive into that. Let me just back up a little bit. So give me 30 seconds on the previous company that you just referred to, the lawn care business. So this one you had started from scratch. Yep. So what's the quick story there?

Guest: Yeah. So Maverick Lawn Care, I guess it kind of, you know, not organized. Started when me and my brother were young, probably like 14, 15 years old. Before we could drive, my dad, you know, bought a mower and a little trailer and he'd drive us around to these lawns. Actually not, not more than five miles from where I'm sitting right now in Lake Crystal, which is a, you know, it's a town about eight miles from my house. But yeah, so we started that and you know, just did the silly, you know, handouts at people's front doors and things like that, you know. And then through high school was a nice little, you know, part time job, I'd say. And you know, at some point my brother kind of quit doing it and you know, and then I always have been doing it through college and, you know, saw a little bit of growth, but it was never more than like 25, 30 clients or something like that. And usually just residential, you know, small Ones. Yeah, it wasn't until I got out of. Yeah, probably out of college. A couple years into my career, you know, I was able to hire person, and then I had two people. And now I think we're at. We have about seven, eight during the summer, and then there's about 15 in the wintertime. Just personal removal. You just need a lot of hands shoveling and stuff like that.

Host: So this is a business now that you've. That you started from scratch as basically a kid, an adolescent, and then it's now, whatever, almost 15 years later.

Guest: Yeah, we rebranded it and now we have something like 170 accounts. And, you know, we're doing, I don't know, half a million or something like that.

[6:06] Host: Awesome. Cool. So you actually had the experience in starting something from scratch, so you knew you could do it. You also had. You had that business, so why didn't you say to yourself, let me just grow this business rather than starting something all from scratch or acquiring something as you did?

Guest: Yeah. My one thought, and I guess it still is, what's attractive about a manufacturing company is you can scale it a lot better than a lawn care company. I mean, you're just a local. Yeah, you can start another shop in another town or, you know, and that kind of thing, but you can't go from, you know, $100,000 to $10 million on a lawn care company within, you know, whatever, and have. You're gonna have way more moving parts.

Host: Sure.

Guest: You know, I mean, the complexity is up there. I mean, just with the guys I have, it's constantly. Something's breaking, something's. You know what I mean?

Host: Yeah. So you wanted a product company less

Guest: complex, you know, more compact, something you can get your arms around without, you know, getting on a plane or driving for three hours to go somewhere, you know, to a new location or something like that. You know what I mean? So, yeah, and then manufacturing and fiberglass, you know, it just. It was interesting because you can make whatever you want, you know, so you.

Host: You had industrial engineering expertise, but you didn't know really much. You know, you didn't know anything about fiberglass, but you felt comfortable in a manufacturing environment.

Guest: Yeah, yeah. It's just one of those things, like when it comes down to manufacturing, I mean, it's a process. It's all a process. So, you know, once you understand the process, you know, you can make tweaks and things like that. You know, it's. Some of it's, you know, chemical engineering for, you know, you got resins and catalysts and things like that. But yeah, I mean, I wasn't that scared of it, I guess.

Host: Do you think. Do you think that somebody who didn't have an industrial engineering background could have come in there and gotten comfortable? Because even though you don't, you know, you didn't have fiberglass specifically experience, you didn't have kind of an industrial engineer, you did have an industrial engineering degree. So maybe that gave you a bit of a leg up. Like I'm some software guy. Could I come in and come in and do and buy this business?

Guest: Yeah, I think it would probably be possible. You'd have some more struggles. And it's not just, you know, making the products. It's, you know, supply chain and it's, you know, how much do we buy? And you know, that kind of thing, you know, break down the steps, you know, and make it. Try to have a little bit of production flow, which is, you know, which can be tough to do. And you know, it's. I mean, it'd be possible probably, but, you know, and it's probably harder to get financing if you don't have experience and things like that. So people, banks and others won't have as much confidence in you. I guess you could say if you didn't have that expertise or experience, that's where you'd probably struggle too.

[9:06] Host: Yeah, but it sounds like a lot of your day to day or a lot of the challenges and the ways you optimize the business were actually up the up river. From the actual on the floor stuff. It's like supply chain issues.

Guest: Right. That, and then, you know, the, the previous owner was just, you know, he was in his 80s, so he was comfortable calling in credit cards, you know, on the phone and giving the numbers, you know what I mean? And just the way he priced things and you know, he was a. He was a guy that had multiple companies too, so. And this was like his last one that he had. So he, you know, he wasn't super worried about how much profit he was making and things like that. He just. It was fun, you know, it's fun.

Host: Cool. Cool. Okay, well, let's get into the search. I really want to hear this because it sounds like yours is a classic case of like a retiring owner, basically. So you reached out to. You decided you want to do this to buy a business rather than starting from scratch. You knew you wanted something, a product business or a manufacturing business, something that had scale to it and you wanted local. Ish. Yeah, you basically just reached out to a local broker and set that broker loose and so you weren't necessarily looking for deals the broker already had. You had the broker go out and just knock on doors for people who hadn't necessarily raised their hand and said, I'm trying to sell my business. Yeah, my first thought was, tell me the story. Then.

Guest: Yeah, my first thought was like, hey, I'll just call up these owners and then they're gonna be like, why is this 30 year old kid calling me, asking, trying to buy my company? You know what I mean? I'm like, well, I better have someone in the middle that maybe has a little more credibility, you know, first impression, kind of. Yeah. Not giving you the no right away, you know what I mean? So that was kind of my thought on that. And then, you know, I just gave her some options. And, you know, none of the companies we were poking at really hit, you know, they were. It's kind of a gamble, I would say, if someone's not actively looking. You never know. It's like someone selling their house, you know, you never know if they want to move or if they're going to move sooner in 10 years, you know what I mean?

Host: Yep.

Guest: Kind of one of those things. And then, yeah, she brought a couple other companies I'm having a hard time remembering exactly, but this one came across and I. Well, first thing you do, you know, is you pull the website up and you go, oh, you know, 1993 website or whatever it was, you know. But I mean, it worked. So I was just like, nah, I'm not that. It's not interesting to me. I guess I didn't really think about it enough, you know what I mean?

Host: But isn't an outdated website always like a good sign that there's. Yeah, oh, yeah.

Guest: It started to click after a while and I'm like, oh, yeah, okay. And then one day I'm like, well, St. James, you know, it's like 45 minutes from my house. It's like not super ideal. And it's still not really super ideal. Just because when you want to go get something done, you got to drive 45 minutes to get there and 45 minutes to get back. So it's not like a, you know, a quick jump. But anyways. Yeah, so I just got a wild hair one day and just like, well, you know, I always kind of have the philosophy of give something a chance, you know, you never know what kind of, you know, what you might find.

[12:12] Host: Sure.

Guest: So just one Saturday, I'm like, all right, well, you know, it doesn't hurt. I've been in tons of manufacturing Facilities. And it's interesting even if I didn't want to buy it, I guess, you know, I just like to see. Yeah. Learn something from it or, you know, if I could help somebody on the way, then you help them, you know, with something they have. But yeah, so that one day I just went there and when I walked in the door, I could just see there was just opportunities just flowing out of the place. You know what I mean?

Host: So just because you could tell that nothing was really optimized and the guy

Guest: had walked through there and just meeting with the owner, I could just tell that there's inefficiencies and different strategies. You could use this to, you know, be more profitable, I guess.

Host: Even though you knew nothing. Nothing about the industry you didn't know.

Guest: Yeah, Nothing really about. Yeah, I mean, the other company I was at, I think we purchased like one part that was made out of fiberglass and, you know, that's about it. That's about all I knew about it.

Host: Cool.

Guest: I knew the general. I mean, I did. I had composites class in college, so I guess we did, you know, hand layups and, you know, carbon fiber and different materials. Then we tested them and things like that. But, you know, one class in college doesn't really, you know, you're hands on with the stuff, you're in the book most of the time, then you're hands on for a couple weeks and that's it. You know what I mean? Just enough to kind of be familiar enough with it and that type of thing.

Host: But we also don't. Even if you knew about the manufacturing process more, I mean, you don't know about the market opportunity. Like, you don't know if his customers are drying up, if the pie is growing or shrinking or what. How did you get comfortable with all the kind of big picture market dynamics?

Guest: Some of it was kind of a leap of faith, I'm not gonna lie. Cause I mean, for one, the guy was. Paul was his name. He was a little bit gun shy in the fact that he didn't want to say something wrong to push the buyer off. I don't think he was in this position that he was in very often. You know what I mean? I think he. A lot of his other companies that he sold, he either kind of just folded them or someone kind of took over. He wasn't like propositioning buyers, I could say, you know, some of it I just had to like. Because he wanted to be really secretive with the employees and stuff like that. And he was kind of in a tough Spot where he didn't have the manpower to fulfill this huge order that he got. And he wasn't really. He didn't really tell me that either. 100%, you know what I mean? So, yeah, you just go through the numbers and what he, how much equipment he has and things like that and look at the customer list. And yeah, some of it was unknown. And I just had to have a little, you know, have a little faith and cross your fingers and dive in. I mean, it seemed like he didn't do any marketing or anything like that. But later I figured out that it's just a captive market. We're the only people that make this particular part that we're making and was diversified between a couple different products. So yeah, I mean, seemed pretty legit.

[15:18] Host: Well, I want to get into the post acquisition stuff, but first, so just going back to the search. So did this business come along because your broker found it or did. Or did. Because she was, you know.

Guest: Yeah, she was, she was. She had it listed. I guess you could say she had it.

Host: She had it already listed. So she'd already had a conversation with this guy?

Guest: Yep. Yeah.

Host: Okay. All right, all right. So this was not a result of her knocking on random doors on your behalf. She already had it.

Guest: No, this one happened to be for sale. Yeah, I think when he kind of hit, he hit the moment of, oh boy, I'm not going to be able to do this. He's like, well, I either got to double down or, you know,

Host: cool, okay, that's great. So when you decided to buy it, what was the deal structure like to whatever extent you can talk about numbers and where you got the money. Talk about numbers first. Like, is this a six figure business, a seven figure business?

Guest: Oh, six, half, probably half a million right around there.

Host: Okay, so it was a half a million dollar business.

Guest: And then it's a lot of fixtures and equipment. There's a building, almost three acres of land. And so, okay, it's in real rural Minnesota. You know, it's a small town outside of town.

Host: Okay. And so did you. What multiple? Did you know, what can you tell us about what you acquired it for? Multiple or number?

Guest: So basically what it worked out that the assets equal basically the selling price. So the property assessed for not assessed, but the value of it equaled what the amount was. So there wasn't any. It was easier for a bank to finance it, I guess because there was actual physical equipment and things that were worth what the company went for, I guess.

Host: Okay, so the valuation of the company that you acquired it for was basically the assets and the property.

Guest: Building and the property.

Host: Okay. All right. So all the goodwill, all the client list, all the revenue, that was just gravy?

Guest: Yep, basically, yeah, more or less.

Host: Like, you could turn around. You could have bought it, turned around and flipped it for basically the same price just because the underlying assets were more what you paid for. Yeah, that sounds like an amazing deal. I mean, did it strike you as a good deal when you saw that price?

Guest: Yeah, I mean, luckily it worked out like that. Cause, I mean, it would have been harder to finance it. You know what I mean? I would have had to have more of a down payment or something like that versus a bank feeling comfortable enough. I had to go to a small bank. You can't go to Wells Fargo or US bank, and they just don't even. They got enough deals coming in, I think, that they don't even look at,

[18:15] Host: you know, something this small up in this small.

Guest: Right.

Host: Okay. And so what were the terms? Did you have to. I mean, did you have a down payment and then.

Guest: Yes, we looked at different options. You know, government sba, pipe loans. And where the property was, there was a. So when you do an SBA loan, basically you have to do all kinds of environmental testing and things like that because they don't want to get stuck with, you know, a property that has hazardous materials, for example, or something crazy. So we went down that road, and then, you know, in the background check, the SBA saw that it used to be a, like, equipment dealership or a machinery implement dealer. So then they were worried about finding oil or something like that buried. So it got to be pretty expensive to do the soil testing. And then you're gonna have to excavate stuff out. And so then that kind of canceled out that idea. And then I think what ended up happening is I did a contract for DEED for the building and the property, and the bank financed the assets.

Host: Okay.

Guest: And we did that for a year until the bank was comfortable enough where I was able to buy out of the contract for deed. And then I had it all on two different loans, I guess, one for the property, one for the assets.

Host: And so the contract for DEED was basically a contract saying in a year, assuming X, Y and Z. Yeah, I

Guest: paid him interest or whatever. Yeah. It wasn't a great deal. That's what I was. I was. You know, the interest wasn't good and things like that. So I was motivated to get out of that one as quick as I could, but.

Host: Okay. And the business was profitable. I Assume.

Guest: Yeah. You know, it's difficult about having a small business, especially. I mean, it's kind of trying to balance your tax liability with, you know, with your profits. You know what I mean? And then when you're trying to sell a company, I mean, you want to make it look like you make more money, you know?

Host: Right.

Guest: And when you're. When you're not. If you're not trying to sell it, I mean, the less money you make, then the less tax a. And things like that. So it's just a dance of that, you know? And so I had to kind of trust he was on paper, so I had to trust his. His numbers and. And I guess.

Host: So he was reporting. Reporting less profit to the government. Well, I don't know.

Guest: I don't. I don't know how he was doing it, but you know what I mean?

Host: Yeah, yeah.

Guest: I was doing the numbers and the costs and things like that, and, you know, it looked. It looked really good, so it looked really profitable. Yeah.

[21:02] Host: Yeah.

Guest: I mean, I think he only. He didn't show much more than 100, but I could tell that there's more there. It was just interesting how his book work was done, I guess.

Host: Okay. All right. So is the business doing about a half a million dollars in revenue and like 100 to 200 in profit?

Guest: Yeah, maybe a little less than that, but yeah.

Host: Okay. Okay. But over 100.

Guest: Yeah.

Host: All right, cool. And so let's see here. So you. You make the acquisition. What are the biggest challenges? Like what. Like day one. What do you. What do you. Oh, first thing, sounds like there was

Guest: a giant which is back on the desk. I was operation number one, and he was so backed up that he quit answering the phone. So you had 15 messages on the. On the, you know, the voicemail. So it's. Okay, let's see. What. What orders do we got to make and, you know, return these phone calls and run these credit cards and get this batch of stuff out the door. Because we had a big contract. We had to, you know, a person that most people buy one or two of our parts. This person was buying 400. So, I mean, it's. You got to get these little guys out of the way so we can work on the big order.

Host: Yeah. So is this bad news or good news? Because good news.

Guest: But it's like you.

Host: But it's like all of a sudden, we don't want to just inherited it or you just bought a business, it's about to blow up. Like, you don't.

Guest: But you don't want to lose your big customer, you know, right off the bat, or you're really going to be treading water, you know what I mean? So it's like, what do we got to do to get this done?

Host: Yeah. So did you have to hire people immediately?

Guest: Yeah, yeah. We went from I think three people and a couple of them were part time to I think we had two, three, four. We almost had ten. Ten, including myself. Yeah.

Host: So was it. I mean, that must have been a challenge. Like, had you ever really, I mean, with. You had your lawn care business, but had you ever really hired people? Like, you buy this business day one, you have this giant contract, you gotta go out and hire seven people.

Guest: Yeah, I hired people at my corporate job and a lot of, I mean, you get a lot of turnover in lawn care, so. But it depends on what the job is and where it's at, you know, what kind of people you get coming in. It's. It's tough. Yeah. I mean, that's probably my. That'd be my least favorite thing to

Host: do, I guess, the hiring piece.

Guest: Yeah.

Host: And so. And you also had to like, do a lot of it. And in a small town and for roles that you'd never really managed before, I mean, that seems like a really big challenge.

Guest: Yeah, right. And then employees that work there, it's kind of like loosey goosey, like. Oh, yeah, you know, don't. You don't have a handbook or, you know, so I had to go in there and get all their information and how many hours of vacation do we got going here? And how much do you make? You know, it was like, you know, I had most of that, but not in the detail sense where you need to understand what's going on, you know, so.

[24:12] Host: You know, it's funny, Tyler, because you talked about how like starting something from scratch when you have the wife and the kids and the mortgage already seems like a really big risk, whereas buying a revenue generating business seemed like less of a risk. But in some ways, even though the business was profitable, it was generating some revenue. $100,000 in profit. It seems like there's a lot more risk in this because you're taking on a loan, you're buying this, and all of a sudden not only do you have your family to take care of, but you have all these other employees to take care of. You got customers to take care of, you got premises to manage. Now in some ways, every. It seems like riskier than just starting from scratch and building something your own way.

Guest: Right? Yeah. My thought was just if it all goes bad. I mean, at least you have all the stuff you could sell. You know what I mean?

Host: Right? That's right. Especially at the price you got it for. I mean, you can just turn around and sell all the assets for the same price that you borrowed the one, right.

Guest: Hypothetically.

Host: Yeah, hypothetically.

Guest: All right, cool.

Host: And what year is all this? I didn't ask you that. At the top.

Guest: June 2018.

Host: Well, if you had to do it over again, do you think you would. You're happy with the acquisition? Yeah, yeah, sure.

Guest: Yeah. It just opened other doors, too.

Host: I mean, do you think that you would acquire another business? I mean, do you see this as a way to.

Guest: Yeah, I mean, I have deals come across all the time. I actually, I flew to a couple different places looking at different fiberglass companies and. Because I thought, well, why don't we just buy a product that somebody else makes and then just ship the tooling up and we'll. We'll do it. But at that same point, we ran across the guy was making roofs for UTVs, audio roofs for UTVs, because he had a power sports dealer nearby. So we worked on that for a little while, and then he wanted to sell the molds and things like that. He just wanted way too much money for them. So we didn't do that either. But it's all a good learning process of just, what do you look at? What kind of numbers do you look at? What do you, you know, how much is his equipment and materials worth? How much do you think his proprietary, you know, knowledge and his products are worth? You know, it's. And some of it's wishy washy. I mean, it's not. It's not. I mean, it's like a lot of people evaluating lawn care companies. It's like, what's it really worth? What's the blue sky? You know, it's just difficult to. It's. It's interpretation, you know, and what can you do with it? You know, how do you find it?

Host: Given how much more knowledgeable you are now than when you acquired Blackhawk, do you think you paid a good price for it? Or overpaid or underpaid?

Guest: Yeah, sometimes I think it depends on how business is going. Right. When it's going really good, I'm like, God, this place is worth four or five times what I bought it for. And then it's like, whoa. You know, I probably could have negotiated cheaper, I guess, in hindsight, but, I mean, it's easy to do that now. I wish I would have bought Tesla stock Or, you know, bitcoin or whatever. We could say that about anything, you know, but no, I think it was. It was fair. I mean,

[27:18] Host: but aside from whether or not you could have got him down on the price, like, you could have pushed him a little bit on price, the value that you got, do you feel like you got.

Guest: Yeah, oh, yeah, I think it's. Oh, that was a good value.

Host: Yeah.

Guest: Yeah. I mean, I don't think it was 10 cents on the dollar. Good deal. I mean, I think it was pretty accurately priced, I think, knowing what I know now.

Host: So what would you advise other people who were. Who are. Where you were, where they're like, maybe they have a corporate job or whatever, they're doing something in their career and they want to buy a business. They've decided they want to buy business. What would you, from your experience, like, what did you learn? What are the takeaways?

Guest: Yeah, I guess I would say. I mean, it's kind of like when I first went and looked at the company in St. James, it's like, what do I got to lose? You know what I mean? Go check it out. Learn something. You know, if that's what you really want to do, you should put some time and effort into it, you know what I mean? I mean, don't do something without thinking about it, obviously, or doing your due diligence and that thing, that type of thing. But I mean, it's just like looking for a car or anything else. You know, this investment happens to pay you back, you know, type thing versus, you know, it's an asset, not a liability. So. Yeah, I mean, I think it's fun. I mean, honestly, I get bored real quick, so I'm kind of. That's why I'm on the next thing already, you know what I mean? And I'm always looking for another one. So. Yeah, depends what you want to do and why you want to do it. You know, if you're just looking to. I mean, ultimately, I wasn't really looking for another job, per se. You know, you think about, well, how long do you want to work? And, you know, what do you want to do when you're, you know, working type thing, you know, so.

Host: Yeah. Would you. Would you characterize what you did as buying a job? Because, you know, that's.

Guest: Right now I would, but that was not my ultimate goal. You know what I mean? When I did it, you know, my thought is, you know, you build something up or where you can help other people be successful at running it. You know what I mean? I'm not other than, you know, fresh ideas or bouncing ideas off or if you need help or something like that. I mean, I don't add that much more than anybody else does. You know what I mean? Yeah. So, I mean, ultimate goal is not have to work, you know, put an

Host: operator in and step back.

Guest: Yeah, exactly.

Host: Right. And do you think you can get this business there?

Guest: Oh, yeah, yeah. There's a. Kind of what we talked about earlier is a couple hurdles to overcome, I guess, with location and, you know, hiring and things like that. So that would have to get taken care of.

[30:01] Host: But yeah, if you work out location, you find an operator and you're probably getting close to paying down the loan, then you've got a cash flowing asset that you own outright and that you're not putting that much of your own time into.

Guest: Right. And then you just got to figure out, I mean, how long do you want to keep it? You keeping it forever? Are you keeping it? You know, is there another deal that comes along that, you know, you got to start divesting a few things because you want to go somewhere else, you know, or do something else? Yeah, I mean, that's what it comes down to, I think. How much time do I have? You know, I mean, you know, basically running three companies with, you know, one full time person helping with managing and that type of stuff. I mean, that's a lot of stuff to do, you know what I mean? You know, you're doing. We're doing. All the companies will be doing, you know, multiple millions. So I mean, it's just a lot of paperwork and stuff like that. So it's just. Yeah, it's tough.

Host: Cool. Well, I don't know where I was going. I don't want to leave it on that note because it sounds like you're actually pretty positive about your acquisition. Sounds like it's a pretty.

Guest: That's awesome. Yeah.

Host: Cool. Well, Tyler, I want to thank you for sharing all this with me and getting on the phone with me. Yeah, it's a really cool story to talk to people who don't know a space and have the gumption to go in there and acquire a business in it and then make it work. So good work and thanks for your time.

Guest: Yeah, no problem, bud. Thanks for having me.

Host: All right,

Guest: Sam.