Business Buying Strategies from The Dealmaker's Academy Jonathan Jay Business Buying Expert

This week we meet James Gardner, who was a guest at my Dealmakers Live event in January. Now, James has been on the podcast before, but I wanted to catch up with him to find out what he's been doing. After explaining how he became attracted to the world of mergers and acquisitions, James outlines his plans for scaling up his acquisitions and doing more of them.
Key Highlights 01-35 James introduces himself
03-15 James gets a job with the local undertaker
04-10 James drops out of university
05-40 Starting a business with his brother
08-50 Selling that business
10-30 Meeting his former employer and making his first acquisition
21-35 Finding his second acquisition by lending his limousines to a competitor
25-25 A last minute hitch
28-30 Using life insurance to reassure a seller
Notable Quotes One of my first goals was to be earning at least, if not more, than a graduate would've been in three years time, but I would've had three years worth of work experience, which they wouldn't have had. We became a little bit of a thorn in their side, in a nice way, and they ended up acquiring us lock, stock, and barrel, both in the US and here. I built up the courage to say, I know you're probably not ready to retire right now, but when you are, would you give me first refusal on your business? And he turned around and said, I think I'm ready now. So, in ten seconds, I saved myself 121,000 pounds! Resources
Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on hello@thedealmakersacademy.com for more information. 
If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at johnandrews.deallawyer@jmw.co.uk.
If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at:
www.dealmakerspodcast.co.uk
Watch my Webinar Training Video:
https://www.dealmakerspodcast.co.uk
You can also request a free copy of my book at:
https://www.thedealmakersacademy.com/free-book-giveaway/
If you want to jump straight to my live Zoom FastTrack course, please go to:
https://www.thedealmakersacademy.com/fast 
Connect with Jonathan Jay at:
Website: https://www.thedealmakersacademy.com/
LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/
YouTube: https://www.youtube.com/c/TheDealmakersAcademy

In this episode, Jonathan Jay is joined by entrepreneur and dealmaker, Andrew Norton. Andrew shares insights into his recent, successful deals, how he funded them, how he found them, and the stark contrast between his first challenging deal and his recent multi-million-pound triumph.
Andrew talks about the challenges he faced and how he overcame them, gaining valuable lessons that have shaped his recent acquisitions. He shares the way he secures funding, which has been crucial to the success of his deals.
Key Highlights [01:42] What Andrew has done in the world of acquisitions
[04:11] The people with the most success are the people with the best deal flow
[05:25] How to streamline due diligence
[08:40] How buying a larger business has changed Andrew’s strategies
[09:55] The number of acquisitions to do in a year
[11:43] How long it took Andrew to get a deal done
[14:13] Lessons learned from raising finances
[16:21] Benefits of understanding the staffing arrangements
Notable Quotes You don't have to agree on a price to agree heads the terms of a deal. You can agree on a mechanism for deciding the price you both agree on. There are always cost savings to bind in there. Once you're running the businesses, there are always bits you can change, tweak, and improve. Understanding the staffing arrangements and ensuring you have someone to run that business. Because again, if you don't get caught up in it, that will be vital to anyone. Resources
Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on hello@thedealmakersacademy.com for more information. 
If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at johnandrews.deallawyer@jmw.co.uk.
If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at:
www.dealmakerspodcast.co.uk
Watch my Webinar Training Video:
https://www.dealmakerspodcast.co.uk
You can also request a free copy of my book at:
https://www.thedealmakersacademy.com/free-book-giveaway/
If you want to jump straight to my live Zoom FastTrack course, please go to:
https://www.thedealmakersacademy.com/fast 
Connect with Jonathan Jay at:
Website: https://www.thedealmakersacademy.com/
LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/
YouTube: https://www.youtube.com/c/TheDealmakersAcademy

This week is one of our regular highlights episodes where we look back at some of the insights and interesting conversations I've had over the most recent episodes.
I talk with Andrew Norton, who bought five businesses in just over 15 months. Starting out in the childcare sector, Andrew acquired several training businesses, and his consolidated group now trains childcare providers.
Next, I speak with Gavin Page, who since joining Mastermind has bought nine businesses. In fact, he was crowned deal maker of the year at our annual awards and dinner in December last year.
Next up is Darren Jacobs, who since joining my business buying courses, bought 25 businesses and sold four of them, and has an ambitious target to do 100 deals.
And lastly, I talk with Alexis Kingsbury, about the importance of introducing processes into business acquisitions. We look at some examples of where and how processes have benefited their owners and how processes can create efficiencies and reduce headcount.
Key Highlights
[01:04] Andrew Norton (Childcare and training)
[09:50] Gavin Page (Print sector)
[20:17] Find out about Jonathan’s lawyer, John Andrews
[20:54] Darren Jacobs (Hair care)
[30:05] Alexis Kingbury (Implementing processes to create efficiencies)
Key Quotes
Andrew Norton
I thought, you know what, I'm going to target all three sectors and see what comes back. And it was the training sector that got the most interesting results. The training sector can ride more waves, I think, than some of the others in times of recession. We’ve diversified really nicely. We're merging the procurement and supply in with the engineering and manufacturing - so we've got similar customer bases, and higher level training courses. So we were getting many more responses to the letters we send out, just because we've already made an acquisition, even though it was a tiny one. Gavin Page
When you're in your twenties, you've got nothing to lose. But when you're in your fifties, and you have a family, you have a responsibility to others. Get your pen out, get your computer out and do something. Type some letters. That’s all it was initially. Without sending those letters, you've not got a chance, you know? Sure, you make mistakes obviously, and you think, oh, I should have done that better afterwards. But you refine your script, you refine the questions over time. Darren Jacobs
In comparison to buying an IT business, buying a hair salon was ridiculously easy. One of the assumptions I made was this is a recession proof sector. When these doors open, we are going to have a flood of customers door to get their haircut. Alexis Kingbury
Once you see it and you shine that spotlight, a lot of these things become obvious. And I would say that 99.9% of businesses don't have this. You have to be adding value on an ongoing basis. One way to do that is by providing the operating system that actually generates the results. Putting those processes in place with the sales team was what helped us to get results from building the sales. Resources
Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on hello@thedealmakersacademy.com for more information. 
If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at johnandrews.deallawyer@jmw.co.uk.
If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at:
www.dealmakerspodcast.co.uk
Watch my Webinar Training Video:
https://www.dealmakerspodcast.co.uk
You can also request a free copy of my book at:
https://www.thedealmakersacademy.com/free-book-giveaway/
If yo

In this episode, Jonathan Jay continues his conversation with Nathan Winch, a seasoned entrepreneur, as they delve into the intricacies of consolidating deals and bringing businesses together to operate as a cohesive group.
Nathan sheds light on the most crucial aspects that demand attention from new business owners. They discuss the minimum handover period required after acquiring a business to ensure a smooth transition and maximize success.
Nathan shares his tips for exiting and selling a business, offering valuable advice on preparing for a successful exit strategy and maximizing the value of the business.
Whether you're a seasoned entrepreneur or embarking on your acquisition journey, this episode is for you!
Key Highlights [01:38] The most important parts that require your attention as a new business owner
[03:06] The minimum handover period for a business after the acquisition
[05:30] How Nathan takes control of the finances
[06:56] Finding the best finance director
[11:22] What Nathan does after buying a business regarding branding
[13:33] Nathan’s take on buying a cheap business
[15:56] Things that people should consider after buying a business
[17:27] Advantages of going for a larger deal
[19:19] Tips for exiting and selling a business
[22:59] Tips to help you in your acquisition journey
Notable Quotes I prefer to buy the established profitable businesses where we can add value strategically with what we already own rather than go to the great effort of just knackering the whole team trying to do a turnaround. Whether you're looking to exit or not, you should build to exit because it's good for you as well. Make sure you haven't got any operational role. Make sure anybody on your team, if you have another business, doesn't have an operational role. You should keep an eye on the numbers because that's what any buyer will scrutinize. So work. Think about what you'd want to buy. You need to build towards that. Resources
Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on hello@thedealmakersacademy.com for more information. 
If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at johnandrews.deallawyer@jmw.co.uk.
If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at:
www.dealmakerspodcast.co.uk
Watch my Webinar Training Video:
https://www.dealmakerspodcast.co.uk
You can also request a free copy of my book at:
https://www.thedealmakersacademy.com/free-book-giveaway/
If you want to jump straight to my live Zoom FastTrack course, please go to:
https://www.thedealmakersacademy.com/fast 
Connect with Jonathan Jay at:
Website: https://www.thedealmakersacademy.com/
LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/
YouTube: https://www.youtube.com/c/TheDealmakersAcademy

In this episode, Jonathan Jay meets Nathan Winch, a former biologist turned successful entrepreneur, to discuss his transition into the business world and his acquisition experience. Nathan shares some of the most interesting deals he has secured, as well as his criteria for searching for businesses to acquire. He also talks about the characteristics of sellers he looks out for and why he prefers not to use a broker in his acquisitions.
Nathan shares his insights on why larger deals are easier than smaller ones and the challenges he encountered. He offers valuable tips to those undertaking their first acquisition and shares some of the acquisition tips he has gained along the way.
Key Highlights [01:13] How Nathan transitioned from a biologist into an entrepreneur
[06:03] Some of the most interesting deals accrued out
[08:20] Nathan’s criteria when undertaking an acquisition
[08:54] Characteristics of sellers that Nathan looks out for
[10:32] Advantages of not using a broker in the first acquisitions
[16:04] Why larger deals are easier than smaller deals
[16:50] Challenges encountered by Nathan in his entrepreneurial journey
[19:02] Tips to people undertaking their first acquisition
[24:01] Acquisition tips that Nathan has gained along the way
[26:22] Advice to people interested in buying a business but have not made the first step
Notable Quotes I think you control the narrative. I think that's important. We obviously display our credibility. So it's not the credibility of a broker. I often say that brokers tend to be the graveyard of selling businesses. If I'm looking at a return on investment in terms of a return on spend, the bigger deals are the better investments, and like, often, a lot of the lenders we work with have minimum lending anyway course. To get some good advice. Don't just trust anybody you speak to, like with the accountants. And I just think about taking the leap. So long as you manage your risk correctly, it can be really life-changing. If you want to break something off and sell it, or there's a buyer that wants this but doesn't want that, if it's laid out correctly, it's very easy and tax efficient.  Resources
Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on hello@thedealmakersacademy.com for more information. 
If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at johnandrews.deallawyer@jmw.co.uk.
If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at:
www.dealmakerspodcast.co.uk
Watch my Webinar Training Video:
https://www.dealmakerspodcast.co.uk
You can also request a free copy of my book at:
https://www.thedealmakersacademy.com/free-book-giveaway/
If you want to jump straight to my live Zoom FastTrack course, please go to:
https://www.thedealmakersacademy.com/fast 
Connect with Jonathan Jay at:
Website: https://www.thedealmakersacademy.com/
LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/
YouTube: https://www.youtube.com/c/TheDealmakersAcademy

In this episode, Jonathan Jay continues his conversation with Dan, whose first acquisition was a specialist plant hire company, in an amazing eight figure deal.
Dan shares his story of transitioning his new team and transforming the business he purchased. Since Dan bought the business, he has faced numerous challenges but as you will hear he has managed to turn them into valuable opportunities.
They discuss the impact of change on the business and how Dan leveraged his experience in the military and other organizations to make strategic decisions. He reveals the importance of having the right people in the business, and how he carefully built a high-performing team that has been instrumental in the business's turnaround.
Key Highlights [01:23] Transitioning to a new team
[04:16] What happened since Dan bought the business
[06:22] The impact of change on the business
[08:38] Turning the bad into value
[10:19] Changes that Dan initiated in the maintenance team
[11:00] Benefits of having the right people in the business
[12:17] How experience in the military and other organizations has influenced Dan’s decisions
[13:31] The worst thing one can have in a business
[18:16] Dan’s plans for the next 12 months
[22:07] Advice to people interested in buying a business
Notable Quotes One of the things about when you find something that's not right in a business, it can be a very big opportunity. In a business, I suppose. When you take it over you, it's good if you have some bad things and can turn them into value. The worst thing you can have on a business is fear, and if people are scared, they won't speak up, they won't take risks, you know that there'll constantly be scared about making mistakes, and they all sort of hunker down, nothing happens. One thing I did learn from the army, which the army is good at, is if you've got average people in a team that's gelled as a team, and they're working together, they are worth twice as much as eight supermen and women in a team who don't get on and are all competing with each other. If you've got the right team of people, and they're empowered, and they feel they can do stuff, you know, you're being successful when things are happening at once. Resources
Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on hello@thedealmakersacademy.com for more information. 
If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at johnandrews.deallawyer@jmw.co.uk.
If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at:
www.dealmakerspodcast.co.uk
Watch my Webinar Training Video:
https://www.dealmakerspodcast.co.uk
You can also request a free copy of my book at:
https://www.thedealmakersacademy.com/free-book-giveaway/
If you want to jump straight to my live Zoom FastTrack course, please go to:
https://www.thedealmakersacademy.com/fast 
Connect with Jonathan Jay at:
Website: https://www.thedealmakersacademy.com/
LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/
YouTube: https://www.youtube.com/c/TheDealmakersAcademy