Hello SMB Deal Hunters!
I’m very excited to share this week’s interview with Walker Yarbrough.
He started off with long hours in Investment Banking until he looked up at his bosses and he realized he didn’t want their job (at all).
"Even once they'd climbed the ladder, they still just didn't have a lot of control of their own time…They were doing great by a lot of standards, but in the office super late and working on weekends and traveling all the time. It was just a future I didn't see for myself."
So, Walker did what a lot of us do who want to get into ‘business’. They do literally everything under the sun, hoping something will work:
Getting a job at a startup - because it’s like running a business right? Wrong. Walker was doing cost-cutting projects and soul sucking P&L work.
$35,000 on an Amazon automation store. Started great—days with $1,000+ in sales selling Calvin Klein cologne. Then Amazon banned the store. Money gone.
Print-on-demand t-shirts. His girlfriend had a successful Etsy shop, so why not? Too competitive. Went nowhere.
Options trading. Sometimes worked. Mostly stressful. Never consistent.
Sports betting analytics site. Got CLOSE. Almost signed the deal. Then Walker realized: "If something breaks, I don't think I'm gonna be able to fix it."
Then, he decided to simplify and buy a business he could understand.
A vending machine company with 7 locations in Atlanta. Fully owner-operated by a 75 year old who wanted to retire.
But here’s where things get interesting:
💡Walker had to beat out an experienced vending machine company competing for the same deal.
💡The deal got held up for 2 MONTHS over a $200 bill.
💡 And when it DID close, Walker made a classic first-timers mistake. He hired an operator to run the business and went off on vacation. Aiming for a ‘passive’ investment. Until the operator quit 3 months later.
The full story involves a panicked craiglist job hunt, Walker losing one of his biggest customers, and realizing that the business was practically run out of the previous owner’s car.
It’s a wild ride. And at the end, Walker not only succeeded but excelled.
So much so, that he’s one of our new M&A advisors.
COMMUNITY WINS
For those who missed it, we also did an SMB Deal Hunter Pro alumni interview with Chris and Julie this week!
They had 3 major post-acquisition surprises (and how they dealt with them is amazing)
They had to submit an all cash-offer with a 35 day deadline to win the deal (because the previous owner needed the money for another business)
And they’re already on the search for their second acquisition
Well worth a listen!
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?
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 tomorrow with some new deals!
-Helen Guo
Find Me On Twitter
Find Me On LinkedIn
How was today's newsletter?
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.