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Growth Through Acquisition
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Transcript
Andy and Jessica are welcoming amazing guests today who will talk about how they grow their businesses through acquisition. They will dive deep into what the market looks like and how baby boomers are going to be retiring in the upcoming years, which will increase the market, unfolding a great opportunity to purchase a business to grow your own and even double it overnight.
During this episode, you will find different types of acquisitions, for example when a competitor is being acquired or a synergistic acquisition when a company buys one that is similar but is not in competition. Lots of financing opportunities are currently available, which makes this an even better scenario.
Key Takeaways
[9:28] Trent Dailey CEO and President Insurance Managing Group, Indiana.
[9:41] Trent Dailey talks about his business.
[10:07] Three deals that made insurance Managing Group grow through acquisition.
[11:19] Focus on the culture and the people.
[12:38] Merging is about aligning people.
[13:15] Post-transaction challenges.
[15:20] Trent gives advice to entrepreneurs thinking of growing through acquisition.
[17:50] Deal of the week: Aaron Fox (Boston). Autobody Industry. Seller financing. Sold at $479,000 SDE at about $260,000. 48-hr. turnkey operation.
[23:29] Randy Bring, Jonathan Wilson, and Jeff Soffer.
[24:32] How Jonathan and Jeff got into business together.
[30:33] Taking a calculated risk.
[34:15] Different types of acquisitions.
[36:55] Selling a business that was losing money.
[40:22] Networking and growing through acquisition.
[44:27] Without the risk there is no reward.
[47:05] Jeff and Wilson give their advice for entrepreneurs.
[52:30] Listing of the week: Julie Brigman (Florida). Manufacturer of fishing rods company. Business that can fit with any related manufacturing. Clean and organized. Price: $175,000. Ecommerce site. Open to financing.
Show Notes
Julie Brigman (Florida). Manufacturer of fishing rods company. A business that can fit with any sport relative. Clean and organized. Price: $175,000. Ecommerce site. Open to financing. Call Julie at 904-874-1059.
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