Acquiring Minds

The first business Joe Wechsler bought had $280k of SDE. Seven years later, he runs a fund with $50m of buying power.
Register for the webinar: 
Franchising for the ETA Buyer: Resales, Roll-Ups, and Real Deals - Thu, June 4 - https://bit.ly/4vnGP5u
Topics in Joe’s interview:
Background in management consulting
Inspired by Rich Dad Poor Dad to own assets
Joining an early cohort of the Acquisition Lab
Searching is more fun with a partner
First deal died 10 days before closing
Discovering employees had never been paid overtime
Total office staff turnover in first 4 months
Acquiring 4 diverse businesses
Launching a $25M equity fund with 5 partners
It’s all about the people
References and how to contact Joe:
LinkedIn
Blueline Ventures
Who by Geoff Smart and Randy Street
Rich Dad, Poor Dad by Richard T. Kiyosaki
Get a free review of your books & financial ops from System Six (a $500 value):
Book a call with Tim or [email protected] and mention Acquiring Minds
Download the New CEO’s Guide to Human Resources from Aspen HR:
From this page or contact [email protected]
Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:
Pioneer Capital Advisory
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Edited by Anton Rohozov and produced by Pam Cameron

As a South African in the US, Justus Luttig had to get creative to search then buy 2 trades businesses at the same time.
Register for the webinar: 
New $10m Limit for SBA Loans: What You Need to Know - TODAY!! - https://bit.ly/4v3zKXh
Topics in Justus’s interview: 
Growing up on a cattle ranch in South Africa
Disillusioned with the venture capital bubble
Perception of white collar work as “the dream”
Meeting successful owners of blue-collar businesses
Big deal failure on his birthday
Structuring a deal without the SBA
Challenges of searching on an H1B visa
Merging an HVAC with a plumbing business
The magic happens when you leave your desk
Acquiring during the slow season
References and how to contact Justus:
LinkedIn
Copeland Home Services
The ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business:
The Acquisition Lab
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Download the New CEO’s Guide to Human Resources from Aspen HR:
From this page or contact [email protected]
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Edited by Anton Rohozov and produced by Pam Cameron

David Graf went after a business that had sat on the market, acquiring $750k of EBITDA for 2.7x. It's going well.
Register for the webinars: 
Negotiating Working Capital in SMB Acquisitions - TOMORROW!! - https://bit.ly/4a2ozGe
New $10m Limit for SBA Loans: What You Need to Know - Thu, May 28 - https://bit.ly/49j3V4t
Topics in David’s interview: 
Drive to earn money as a kid
Choosing to skip business school
Advantages of acquiring in Texas
Preparing his case to convince his wife
Working full time while searching
Growth is often underpriced
Wholesaling real estate he didn’t want
How to decide whether to keep an employee
Joining a group for manufacturing owners
Near-crisis days before closing
References and how to contact David:
LinkedIn
Danhard
Rand Larsen
Scalepath
Get a Grip by Mike Paton
Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:
Pioneer Capital Advisory
Get a complimentary IT audit for acquisition diligence or post-close transition.
Visit inzotechnologies.com/eta.
Get a free review of your books & financial ops from System Six (a $500 value):
Book a call with Tim or [email protected] and mention Acquiring Minds
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Edited by Anton Rohozov and produced by Pam Cameron

Truc Nguyen has acquired 2 nail salons, an overlooked but fragmented industry where businesses trade at low multiples.
Register for the webinar:
Negotiating Working Capital in SMB Acquisitions - Tue, May 26 - https://bit.ly/4eQfCTR
Topics in Truc’s interview:
Why she chose the nail salon industry
Her vision for a rollup
Analyzing a current nail salon business listing
Low multiples in the nail space
Bargaining power of good nail techs
Square footage and number of chairs matters
Documenting SOPs for her first salon
Staffing a 7-day-a-week business
Creating a great company culture
The changing face of nail salons
References and how to contact Truc:
LinkedIn
Sarah Romer on Acquiring Minds: How to Buy a Salon as an Industry Outsider (and Survive)
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:
Pioneer Capital Advisory
The ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business:
The Acquisition Lab
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Edited by Anton Rohozov and produced by Pam Cameron

Gant Elmore and Matt Moldenhauer each bought $2m businesses they built over years. Today their holdco does over $200m. 
Register for the webinar:
Revenue Recognition & Quality of Revenue in SMB Deals - TOMORROW!! - https://bit.ly/4dMvx4w
Topics in Matt & Gant’s interview:
3 generations of acquisition entrepreneurs
Matt started as operator, became partner
Bain mentors warned Matt not to do ETA
Goal of owning 50 companies by 2050
Being the Ferrari in a price-competitive industry
Why they prefer holding to exiting
Challenge of giving control to an operator
Gant and his dad teach ETA together
War stories from small business operations
Demand exceeds supply of great businesses
References and how to contact Matt & Gant:
Elmore Companies
[email protected]
Matt’s LinkedIn
Gant’s LinkedIn
Download the New CEO’s Guide to Human Resources from Aspen HR:
From this page or contact [email protected]
Get a free review of your books & financial ops from System Six (a $500 value):
Book a call with Tim or [email protected] and mention Acquiring Minds
Get a complimentary IT audit for acquisition diligence or post-close transition.
Visit inzotechnologies.com/eta.
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Edited by Anton Rohozov and produced by Pam Cameron