The latest episode of Acquiring Minds is with Chris Edwards, who acquired a flooring business in Steamboat Springs, CO.
The first 6 months were brutal, but he’s getting his arms around the business. It’s looking up.
He paid $1.7m, pretty levered up. 80/10/10 - SBA/seller note/cash.
The business does about $3.5m in revenue, $800k SDE.
My favorite part is his advice to new owners:
“Be a shock absorber.”
60-second clip below.
You can hear the whole episode at this link, or subscribe to Acquiring Minds in your podcasting app.