Before You Buy or Sell a Business Jared W. Johnson

Buyers and sellers can be friends, right? Well, what about business partners that work together to scale HVAC businesses?
In this episode of the Before You Buy or Sell a Business podcast, I sit down with Marc Chard and Spencer Satorie of Apex Services dive into their journey of expanding HVAC companies, sharing insights on acquisitions, systems implementation, and management across multiple locations.
From their initial partnership to acquiring multiple companies, they reveal strategies for overcoming challenges, the importance of a solid system, and their growth plans, including adding plumbing services.
Discover how they effectively manage diverse operations and hear their advice for aspiring business owners.

If you're interested in the intricacies of business acquisitions and roll-ups, you won't want to miss this.

📢If you are interested in sponsoring the podcast, reach out to me at Jared@JaredWJohnson.com

CHAPTERS
0:00 | Introduction
5:05 | Business Acquisition and Transition Period Challenges
7:54 | Navigating Business Partnerships and Growth Strategies
11:47 | Challenges and Successes in Acquiring Underperforming Businesses
25:06 | Challenges and Strategies in Managing Multiple Acquisitions
31:19 | Empowering Managers with Trust and Control in Franchise Operations
38:45 | The Challenges and Rewards of Scaling a Business
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If you have questions for Jared, visit JaredWJohnson.com

DISCLAIMER: The views and opinions expressed in this program are my own and/or those of my guests. They do not necessarily reflect the views or positions of my employer.

Before you buy or sell a business, hear Josh Levine on the nuances and evolving trends in the business acquisition landscape.
In today’s podcast episode, I am joined again (see episode 5) by Josh Levine of Private Market Labs where we talk about:

Importance of Focus: Presenting a clear and specific investment thesis helps you stand out to brokers and streamlines the decision-making process.Role of Brokers: Using brokers can expedite the acquisition process and increase the likelihood of closure, although the quality of brokers can vary.Market Dynamics: The increase in searcher activity and higher interest rates are significantly shaping the current business acquisition environment.Economic Impact: Covid-19 and interest rate changes have introduced new challenges but also opened up opportunities in the market.Mentorship and Support: Engaging with mentors and support networks is crucial for navigating the complexities of buying and running a business.

Listen in for valuable perspectives on navigating the acquisition process, industry trends, and the future outlook for buyers and sellers.

Keep up with Josh on X (Twitter)
More about Private Market Labs
Check out the Private Market Labs Podcast

In this episode of the Before You Buy or Sell a Business podcast, host Jared Johnson sits down with long-time friends and now business owners, Brandt and Danielle Badouin.
The couple shares their journey from their respective corporate careers to purchasing a nail salon, highlighting the challenges and triumphs they experienced along the way. Jared and the Badouins delve into the nuances of transitioning from being employees to business owners, offering invaluable insights and advice for anyone considering a similar path.
The episode kicks off with Brandt and Danielle's backgrounds, outlining their extensive experience in their respective fields—Brandt's in telecommunications and fitness, and Danielle's in health insurance and project management.
Their transition into business ownership wasn't planned, as Jared introduced the opportunity to them unexpectedly. This serendipitous event set off a chain of decisions and actions that culminated in them owning a profitable nail salon. Throughout the episode, Brandt and Danielle discuss the importance of researching, assessing risks, and maintaining a balance between their existing careers and new responsibilities as business owners.
Key Takeaways:Preparation and Research: The importance of thoroughly researching and understanding the business you're planning to buy cannot be overstated.People Management: Retaining and understanding the existing workforce is crucial for a smooth transition.Working Capital: Having sufficient working capital helps in managing unexpected expenses and stabilizing the business during the initial months.Mentorship and Guidance: The value of having mentors and trustworthy advisors to guide you through the process of buying and running a business.Balancing Act: How to maintain a balance between your existing job and new business responsibilities for initial stability and long-term success.
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If you have questions for Jared, visit JaredWJohnson.com
DISCLAIMER: The views and opinions expressed in this program are my own and/or those of my guests. They do not necessarily reflect the views or positions of my employer.

Welcome back to another episode of the "Before You Buy or Sell a Business" podcast, host Jared Johnson engages in an insightful conversation with Jeanise Hatcher, a dynamic entrepreneur who transitioned from a corporate career to owning a Pilates studio in Austin, Texas.
Initially stumbling upon Pilates during her recovery from a dance injury, Jeanise found a new passion that she decided to transform into a business venture. She candidly shares her journey of acquiring the studio, the challenges she faced, and the lessons she learned along the way.

Jeanise details the rigorous process of buying a business, from exploring Best Buy's listings to working closely with a lawyer and broker to navigate due diligence effectively. She emphasizes the importance of understanding the business operations, engaging with the community, and preparing financially for the acquisition.

Her honesty about power struggles with the previous owner and the unexpected challenges she encountered provides a realistic perspective on purchasing and running a business. This episode is a goldmine for aspiring entrepreneurs, especially those looking to invest in the fitness industry.

Key Takeaways:
Preparation is Key: Jeanise stresses the importance of thorough due diligence and preparing financially before taking over a business.Understand Seasonality: Recognizing and planning for the seasonal nature of fitness businesses can help manage cash flow and ensure sustainability.Navigating Power Dynamics: Handling the power transition smoothly, especially when the previous owner stays involved, is crucial for maintaining business operations.Blending Passions: Jeanise talks about integrating her interests in holistic wellness and motivational speaking into her Pilates studio to create a unique business model.Professional Guidance: The indispensable role of having a knowledgeable lawyer and a supportive broker during the acquisition process.

Resources
Zenergy Pilates - Jeanise's Pilates StudioBoutique Fitness Solutions - Mentioned by Jeanise for mentorship and consulting

For more on Jeanise's journey and valuable advice on buying and managing a business, tune in to the full episode.

Stay tuned for more enlightening content from "Before You Buy or Sell a Business" podcast!

In this episode:
0:00 | Blending Spiritual Readings with Pilates and Motivational Speaking

3:08 | The Overlooked Physical Toll of Dance Compared to Other Sports

7:02 | Supply Chain Management at Major Tech Companies

8:07 | From Dance Studios to Pilates: A Journey of Diversification

10:35 | The Importance of Due Diligence When Buying a Business

15:22 | Navigating Business Purchase Agreements and Lease Negotiations

21:38 | Challenges of Taking Over a Pilates Studio

26:48 | The Reality of Buying and Running a Business

27:42 | Transitioning Leadership and Overcoming Challenges in Business Ownership

30:21 | Navigating Power Struggles During Business Transitions

33:22 | Integrating Sound Healing and Spirituality into Pilates

35:18 | Jeanise Hatcher's Journey to Business Success and Future Aspirations

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If you have questions for Jared, visit JaredWJohnson.com

DISCLAIMER: The views and opinions expressed in this program are my

Welcome back to another episode of the Before You Buy or Sell a Business podcast.
Recently, I sat down with Rand Larsen and he shared his journey from startup adventures to carving out a niche in the entrepreneurial through acquisition (ETA) space. The discussion unfolds with an exploratory look into Rand's foray into starting his own company and the lessons learned from its quick demise due to external factors like the pandemic. His pivot to buying businesses and his current focus on crafting peer groups provide a rich tapestry of insights for both budding and seasoned entrepreneurs.
Rand's candid recount of his experiences illuminates the challenges and rewards of embarking on entrepreneurial ventures. With an engaging narrative, he dives into the intricacies of building a business from the ground up, transitioning to buying established companies, and creating a supportive community through events and peer groups. The conversation touches on topics such as the feasibility of buying small businesses, the power of mentorship, and the potential of innovative marketing strategies in the digital age.

Takeaways:Adaptability is Key: Rand's career path emphasizes the need for adaptability, showcasing a readiness to pivot and leverage new opportunities.The Power of Community: Building peer groups and organizing events foster camaraderie and knowledge sharing among entrepreneurs.Buying Credibility: Acquiring a smaller business can serve as a stepping stone for building credibility in the market and securing more substantial deals.Understand Employee Dynamics: Post-acquisition, understanding and navigating the complexities of employee management is crucial for business success.Innovative Marketing for Growth: Rand's unique approach to promoting his peer groups through road trips and potential RV branding exemplifies creative marketing techniques.
IN THIS EPISODE
0:00 | Introduction6:15 | Building Community Through Local Entrepreneurial Events13:14 | Rand Larsen's RV Adventure for Entrepreneurial Networking17:11 | Pitching to Marcus Lemonis on Twitter24:23 | Balancing Authenticity and Positivity in Business Storytelling27:12 | Evolving Strategies in Small Business Acquisitions34:37 | Delegating Leadership to Transform Business Operations37:33 | Employee Challenges in Post-Acquisition Business Management44:48 | Mentorship, Motivation, and Meaningful Impact in Entrepreneurship48:08 | Rand Larsen Discusses Online Presence and Future Collaborations
Resources:Follow Rand Larsen on his journey and discover more about peer groups for business owners:
Twitter: @RandLarsen (As mentioned, Rand's life and knowledge about business are documented on Twitter)

Listen to Rand's story and learn from his experiences by tuning into the full episode. Stay connected for more episodes that shed light on the real-world aspects of buying, selling, and managing businesses. Don't miss out on valuable advice that could help catapult your ventures to new heights.

Welcome back to another episode of Before You Buy or Sell a Business.
Today, I am happy to introduce a past borrower, Derek Croft, whose recent venture into business ownership presents a unique and fascinating case study for aspiring entrepreneurs.
Derek opens up about his transformative journey, beginning with his engineering background, MBA pursuit, and foray into consulting at a top-tier firm. Realizing that his true calling lay in growing and running a business, he embarked on a meticulous search for the ideal company to acquire, laying out the nuances of his strategic shift from small to larger ventures and detailing his partnership with Search Investment Group (SIG) that led him to a rather interesting business.

As Derek navigates the initial challenges and triumphs of business ownership, listeners gain valuable insights into the critical role of due diligence, establishing operating agreements, and formulating high-impact strategic priorities.

Immerse yourself in Derek Croft's fascinating story of business acquisition and discover essential strategies for entrepreneurial success by listening to the full episode. Stay tuned for more inspiring and educational content to guide your own business journey!
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If you have questions for Jared, visit JaredWJohnson.com

DISCLAIMER: The views and opinions expressed in this program are my own and/or those of my guests. They do not necessarily reflect the views or positions of my employer.