This Week’s Breakdown (in 10 Seconds):
Robert spent 3 years selling fixed income products at a regional bank, covering the state of Texas.
He quit his job and got his wife to agree to live on her salary alone while he searched.
That gave him 24 months to find a deal, or he'd have to go back to work.
He found a financing structure that let him buy a $7.3M business without a single outside investor.
Year one, he grew it 16%, hitting an all-time-high.
Now he's aiming for $10M/yr in revenue.
And for our audio-only listeners, jump in and listen on Spotify or Apple Podcasts!
Member Spotlight
How She Bought a $3.1M Business WITHOUT Quitting Her Job
We recently also did an SMB Deal Hunter Pro alumni interview breaking down Tatiana's acquisition of a $3.1M print and mail business in Rochester, NY.
She runs it from her desk, 350 miles away, in Manhattan on a second laptop.
Employees and a manager run day-to-day.
Her business management happens in the cracks. 5-minute check-ins between calls at her job. QuickBooks in the Uber home at night.
Tatiana is still a fraud litigation attorney in NYC.
When she started with us, she had zero business buying experience.
She'd invested in real estate, could barely break even, and now wanted to buy something that would actually build wealth.
7 months after joining Pro, she closed.
And she found the deal on her very first day in the program.
Here's what makes this story worth watching:
→ She was the lowest of 12 offers and lost the deal. Six weeks later, the winning buyer's deal fell apart and she got a second shot.
→ She structured a creative seller's note with the retiring owner that cut her down payment in half.
→ She closed a $3.1M deal WITHOUT quitting her job.
→ In her first 3 months, revenue is up 50% year over year and she's already taking cash out of the business.
"You give every tool you could possibly need that you will never find on your own. That is the ideal formula."
So, if you want me and my team to work with you to find, finance, and acquire a million-dollar cash-flowing business in the next 6-12 months, you might be interested in the Pro program.
P.S. Something Tatiana said that stuck with me is: owning the business has made her actually enjoy law more.
You don't need to quit to buy (yes obviously it's going to be easier).
But it's definitely possible to find the right deal with the right structure while you're still working full-time.
COMMUNITY PERKS
• Ready to buy and operate a $1M+ business? Get expert help at every step.
• Want to invest passively in SMB acquisitions? Get access to investment opportunities.
• Get a personal introduction to my preferred SBA 7(a) lender, non-SBA lenders, Quality of Earnings providers, or legal counsel
• Raising capital for your deal? I’ll connect you with investors from the SMB Deal Hunter Community.
• Interested in selling your business? I’ll help you connect with buyers from the SMB Deal Hunter Community.
THAT’S A WRAP
Want me to interview you for my podcast? Hit reply.
See you next week with some new deals!
-Helen Guo
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Disclaimer
This publication is a newsletter only and the information provided herein is the opinion of our editors and writers only. Any transaction or opportunity of any kind is provided for information only; SMB Deal Hunter does not verify nor confirm information. SMB Deal Hunter is not making any offer to readers to participate in any transaction or opportunity described herein.