Key Points From the Interview
his morning I will be driving to work to start my first day owning a food manufacturing company. My part time, self funded search took nearly 4 years to get me here. For everyone out there slogging through the search process and feeling like it may not work out, do not give up!"
This was a post on Searchfunder a few months ago, and the author is today's guest.
Will Gano first got the bug to buy a business in 2014, while at business school.
But he didn't race out after graduation and dive in head-first to his search.
Instead, he decided on the type of business he wanted to own — manufacturing or distribution — and went out to get work experience that would position him to run such a business successfully.
He spent 9 years getting that experience.
But the patience and the commitment to his vision of ultimately buying a business has paid off.
Will bought a 125-year-old bakery ingredients manufacturer in Chicago, a business that seems squarely in his wheelhouse.
Couple things to call your attention to:
First, Will used a buy-side broker. Expensive, but worth it. Listen for how that might look in your own search.
Second, Will bought the business after revenue had dropped significantly. Such a big drop would scare off most buyers, but listen for how it ended up being a good thing. Yet another lesson in looking beyond superficial details about a business or its trajectory to more deeply understand what such details mean.
Here is Will Gano, owner of Bear Stewart.
