Who is backing you?My investors are former small business owners and investors who are looking to partner with and mentor the next generation of entrepreneurs in their quest to become small business owners themselves. They are fully committed to me and the success of any business I acquire for the long-term. As we progress in negotiations you will have the chance to speak with them as well.
Where are you located now?I am currently located in Boston working out of an office with my investors. This allows me to communicate with them regularly on whatever opportunity I am working on. However, my wife and I plan to move to the location of the business I acquire – wherever it is located within the US.
Are you acquiring multiple businesses?No, I am only acquiring 100% of one business. I do not have a team of people who will come in and turn your business inside out. I plan to step in as CEO and look forward to working with your existing management team.
What does the process look like?I want to be respectful of your time considering you have a business to manage. Therefore, I try to make sure the early part of the process as painless for you as I can. It will typically look like this:
1) Introductory phone call to learn more about each other and understanding the business at a high level.
2) Signing an NDA and exchanging basic financial information to further understand the business and put together a preliminary valuation.
3) Scheduling an in-person visit to get to know each other better.
The next steps in the process would include performing due diligence, signing a Letter of Intent, meeting my investors, and getting to a closing agreement. The entire process can take anywhere from 90-150 days.