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  1. addV

    My first real attempt to buy a business

    EXECUTION 
    His last feedback: Sales price of 1.2M Maximum 33% seller financing: 400K We were trying to include some earn out on top of the 1.2M to motivate him, but still our positioning was 200K upfront max. I think we will just pass this time
  2. addV

    My first real attempt to buy a business

    EXECUTION 
    We had a meeting with the seller and the broker and brought on the rationale of our seller financing proposal. 200K cash, 1M seller financed. We went into quite a lot of detail, and the outcome was that they were going to discuss it and get back to us. We got the feedback that the seller is...
  3. addV

    My first real attempt to buy a business

    EXECUTION 
    We discussed the offer with the broker, My impression was that they were not very excited, but agreed to set up a call with the owner in early January so we can discuss/present it directly to him, They also mentioned that: At the moment they don't have any other offer yet (to compare with)...
  4. addV

    My first real attempt to buy a business

    EXECUTION 
    Alright, we had the meeting with the owner on Monday, organised by the intermediary broker. Our main outcome: The business is very dependent on the owner. The owner is willing to stay for 6-12 months for a transition. I only feel like making an offer with a big component of seller financing to...
  5. addV

    My first real attempt to buy a business

    EXECUTION 
    I am almost ashamed you needed to tell me this, but it wasn't obvious till you did so thank you!! A local bank just called me back. They have got local decision power till ~1M. For the pre qualification, they need the last 3 years P&Ls and Balance Sheets, and a business plan "if we have got...
  6. addV

    My first real attempt to buy a business

    EXECUTION 
    Just tried calling 6 banks so far. Not much success managing to speak with someone from investment banking, they seem to be all busy or the gate keeper can not transfer me and they will all "call back/email back"
  7. addV

    My first real attempt to buy a business

    EXECUTION 
    Yes why not! Ok, so, the person that came to the appointment was not the right person for the topic and the right one will call me on Monday it seems. I will keep you guys posted, thanks a lot again for the advise We have got the first meeting with the owner the following Monday (12.12.22)...
  8. addV

    My first real attempt to buy a business

    EXECUTION 
    Alright guys, you are the best, and I took your advise, just called a bank and they set me up an appointment for tomorrow where hopefully I can understand their criteria and documentation required to submit an application, I guess I should push for a "loan for a ~1M business acquisition secured...
  9. addV

    My first real attempt to buy a business

    EXECUTION 
    The price they ask for is 850K + 350K of current net liquidity position (1.2M total). They seem to be saying that the growth comes from a new contract they got with a new airline. Those contracts apparently have got exclusivity per airline and geography for 3 years. Then renewed "if there are...
  10. addV

    My first real attempt to buy a business

    EXECUTION 
    On the earnings. Thanks, sure, due diligence should come later if we overcome this first phase and a letter of intent is accepted
  11. addV

    My first real attempt to buy a business

    EXECUTION 
    Hi guys, So, I have had the experience of bootstrapping a services business up to 7 figures, and I am still focused on growing that business. But in parallel, there is an opportunity to try to acquire a services business in my area belonging to an owner that is eager to retire. About the...
  12. addV

    Buying a business and succeeding?

    IDEA CHAT 
    What is crossing my mind is also buying to accelerate learning. For example, I have got experience building and scaling a services company, but I don't have any in manufacturing products, or e commerce. I could buy a small company that manufactures products, learn how it's done and scale from...
  13. addV

    Starting a consultant company and leaving corporate

    INTRO 
    I would also start thinking about the value proposition for clients, do you have got specific services defined or is it custom services? In that case.. Fixed priced projects or Time and material projects?
  14. addV

    Starting a consultant company and leaving corporate

    INTRO 
    Welcome dataguyaus , Scaling services does not seem to be easy, I am trying it as well :) I know you are still trying to go from 0 to 1, but from there on.. how big is the pool of resources you could be hiring from? How teachable are the skills you need to deliver the services? Can the...
  15. addV

    Looking For Perspectives On Using Debt As Income vs Paying Yourself An Income

    INVESTING 
    You could just use the cashflow that those assets generate as well, not sure I fully get the use case of when you want to do that, Anyway, that's probably an option only available when you have got a net worth of 8+ figures, are you already there?, or why even worry now? It does not sound like...
  16. addV

    Road to $100 Million

    EXECUTION 
    How do you leverage track record?
  17. addV

    Road to $100 Million

    EXECUTION 
    Following. I am quite interested in leveraged buyouts, roll ups sound pretty interesting as well although I am in Europe and roll ups are probably less doable with a smaller common language market than in the US, Are you using your own capital or investor's capital structuring it like a private...
  18. addV

    Entering a Dying Market? (Photography)

    MARKETING 
    What about targeting the DIY photography amateurs market?
  19. addV

    Future Fastlaner from Europe

    HOT! SLOWLANE 
    I feel you, always ups and downs, we need to relativize them Which country are you thinking about?
  20. addV

    White Label Agency Model Connecting Local Businesses to Service Providers

    IDEA 
    I would buy this service. Not sure it would be a successful service though, I think coming up with “the list” would be very challenging (B2B big clients)

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