🎙️Pro bowler → $2.05M biz owner

Hello SMB Deal Hunters!

Mike Fagan spent 13 seasons as a professional bowler on the PBA tour before getting his MBA at Berkeley Haas and grinding 80+ hours a week in management consulting.

Today, he owns two bowling alleys with a third on the way, scaling toward $8-10 million in revenue across 3-5 locations.

He operates the entire business remotely from Dallas, 600 miles from his first location.

When Mike left consulting, hundreds of mom-and-pop bowling centers across the country had aging owners, no exit plan, and almost no competing buyers because the operational complexity scares everyone away.

Mike saw that as the opportunity.

In April 2025, he acquired Ten Pins and More in Rio Rancho, New Mexico for $2.05 million including real estate, financed through SBA 7A.

The previous owner had run the place since the 1980s. No online sales, no website, and he was still using pin-setting machines from the 1960s.

The bank classified the deal as a turnaround. It didn't cash flow enough to cover the SBA payments. 

Mike signed anyway, personally guaranteeing more than his net worth to close.

His wife's W-2 career is what gave him the financial stability to take that risk.

He flew from Dallas to New Mexico almost every week for nine months.

Turned over nearly the entire staff.

And invested over $400,000 in new equipment that eliminated two full-time roles and completely changed the cost structure of the business.

Within 11 months, online revenue went from zero to 25% of total sales. The business now supports an assistant general manager it couldn't afford before Mike took over.

Zero COGS. Turning on another lane costs nothing. League bowlers fill the building Monday through Thursday without any serious marketing spend.

This week, I sat down with Mike to break down his full playbook.

Here are some of the highlights from the deep dive:

🔥 How a 13-year pro bowling career became his biggest advantage in acquiring businesses that sellers won't hand over to a typical investor

🔥 How he got SBA financing on a deal the bank classified as a turnaround that wasn't cash flowing enough to cover the payments

🔥 The zero-COGS, zero-competition rollup thesis behind buying bowling alleys below replacement cost in small markets where the big players won't build

🔥 How he went from flying in every week for 9 months to running the business entirely from Dallas, 600 miles away

Here's his must-watch breakdown...

And for our audio-only listeners, jump in and listen on Spotify or Apple Podcasts!

Member Spotlight

For those who missed it, we also did an SMB Deal Hunter Pro alumni interview breaking down Irving and Evgeniia's acquisition of a $5.7M physical therapy practice in Texas cash-flowing $1.3M/year.

Irving spent almost 20 years in wealth management. Zero healthcare experience. He'd sit with clients who had everything on paper and think, "this is really not as cool as I thought it was going to be."

They'd just welcomed their second child. The clock was ticking. They tried on their own for a year, bought a course, read the books, and couldn't even get brokers to return their emails.

After joining Pro, Irving submitted an LOI within 24 hours of seeing the deal.

Here's what makes this story worth watching:

→ Irving searched for a full year on his own with zero results. We break down what changed when he got help.

→ The seller refused to teach them anything about the business. Irving calls it a blessing in disguise. We talk about why.

→ Our advisory team found an obscure tax rule that saved them roughly $1M over the next 10 years. Even his own lawyer didn't know about it.

→ The seller left with almost no notice and they had 3 weeks to find a licensed physical therapist or the business would shut down. We break down how they pulled it off from a city hours away.

If you want to watch the full alumni interview, click below:

And when we asked what he valued most about the program:

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.

👉️ Learn more and book a call

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.