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- Building a World-Class Customer Experience with Your Acquisition with Scott Porter | Let's Buy A Business | Mar 31, 2023
Building a World-Class Customer Experience with Your Acquisition with Scott Porter | Let's Buy A Business | Mar 31, 2023
Ryan Condie
March 31, 2023
Hey all,
A few things are wild in the market.
Rates are up. Again.
I've seen some banks quote SBA at 10.5-11%. It's LIBOR (7.75%) + 3%...that's kinda crazy.
It's crazy because rates a few years ago were 6% for SBA or something like that.
What does this mean for you?
If you are buying, prices have come down some to match the higher payments. Sellers' expectations are slowly coming down too. Maybe not as fast as you would like.
The hard part for buyers is...there are still a lot of buyers out there.
Does it mean your search is over?
No. There are deals everywhere. There are acquisitions happening every day. My partner and I bought a business 2 weeks ago. I've seen 13 businesses close this year alone.
You need to find a business to acquire that...
the price is sub 3.5x
and can handle a 10-30% haircut in revenue if needs be
AND...
Ultimately, the business goes up because you make it go up. Not because of market conditions or whatever. What are you bringing to the table and why does that business scream for your skillsets?
Also, just launched...
How to Buy Your First Small Business through Acquisition Entrepreneurship
The price is $199 for the first 20 signups and will increase by $50 after each 20. This is a presell and will be live the beginning of May.
Bonus...the first 10 signups will get a call with me to kickstart their search.
Building a World-Class Customer Experience with Your Acquisition with Scott Porter
Scott Porter is world-class in everything he does. His customer experience touch points are gold and we dive into…
How to stand out as a boring business (he used to run 3 nursing homes, yeah, that's boring!)
Seeking Challenges in your Career (he was on the founding team of an airline that just SPAC'd)
Humanizing Experiences in everyday life.
How to Buy a Content Site off a Facebook Post with Connor Gross
Connor Gross is making huge moves. He built and sold his first company while in college which opened up massive opportunities.
We dive into his exits, his 2 acquisitions, and how he hires CEO’s and GM’s to run these businesses.