How to save a dead deal? - Acquisitions Anonymous Episode 110
Bill D’Alessandro (@BillDA), Michael Girdley (@girdley), and Jake Wakely (@jakelywakely), who owns a moving business in Texas talk about his war story of acquiring a home services business in Vail, Colorado. Jake has an excellent rationale for choosing this business which is his getaway to spend more time in Vail. He also shares how he could figure things out as the deal was under LOI, an SBA bank, and financing fell apart two separate times within a week of closing.
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Show Notes:
(00:00) - Introduction
(00:50) - Our sponsor is Cloudbookkeeping.com
(02:48) - Let’s get to know Jake and his storage company.
(03:52) - How did he find Vail Home Care? What does the company do?
(08:01) - In what way was the business viable when it wasn’t that huge financially?
(14:58) - How was the financing of the Deal structured initially?
(16:00) - What happened in the Due Diligence process?
(23:32) - How did you go around in such a short time?
(27:55) - What have you learned? What would you have done differently?
(34:23) - When is SBA a good route?
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Additional episodes you might enjoy:
#108 A fireworks store and a ski rental business for sale
#106 A Pet Product and Saas business for sale - Which one do we like?
#105 How to Make Money in the E-Commerce Game - Bill D’Alessandro gives an e-Commerce masterclass - Part 1
#79 What do Investors want? - Dig into an investor’s mind with Bradford Hardin
#75 SBA Loan Secrets with Heather Endresen, expertise from a Billion-Dollar Loaner
- Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
- Do you enjoy our content? Rate our show!
- Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.
Episode Transcript
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