31 May Acquiring Minds: $3m in Cash Flow: How to Buy a Small Business | Austin Smoak Interview
Austin Smoak found a Florida roofing business with $3m EBIDTA right on BizBuySell. This story might raise your expectations in terms of what to look for. And not only because of the size of Austin’s business, but also because of how he approached management of the acquisition. During the transaction process, he sourced and recruited an operator. So from day one, Austin had someone to keep the trains running on time as he focused on the transition and professionalization. Now, this may sound like easy street: buy a small business cash flowing millions, and hire someone to run it. But Austin emphasizes more than once that it has been anything but easy. Austin worked 17-hour days during the first few months after close. Today, he is working a much more manageable 20 to 40 hours per week.