How Doug Johns overcame his reservations about being a franchisee to acquire a dream business with $1.8m EBITDA. (Rebroadcast from September 2022.)
Topics in Doug's interview:
- Buying a franchise vs. independent business
- Opening your mind to a franchise
- The many (overlooked) benefits to being a franchisee
- Calling yourself "independent investor" instead of "searcher"
- Running a search like a B2B sales process
- The appeal of a deal with few addbacks
- Why home service businesses are so appealing as acquisitions
- Loving, rather than running from, managing people
- Why the top home service businesses have more sophisticated funnels than the Fortune 500
- ServiceTitan
- Where the opportunity is when the business you buy is already well-run and mature
- Owning a plumbing company without knowing anything about plumbing
- The numbers of Doug's deal
- The exact multiple is way less important than you think
- Using ROBS to buy the business
- Why high growth can make a business harder to finance
- Understanding debt service coverage ratio (DSCR) thresholds
- Doug's tip for choosing an SBA lender
- The $500k value of Doug's appeal to the seller
- Going to meet a seller face to face
Reach Doug at:
- doug DOT johns AT couffley DOT com
- LinkedIn
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