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Will Fry
@BuySellSMB
Tackling Main Street's succession crisis. We buy great SMBs and turn local operators into owners. Founder/CEO of @OperateUSA. Revive the American Dream ๐Ÿ‡บ๐Ÿ‡ธ
Austin, TX
Joined March 2022
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    The American Dream isn't dead. Had a great time chatting small business, AI and the case for small business ownership with @JTLonsdale. There's a lot to be optimistic about on Main Street ๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ‡บ๐Ÿ‡ธ
    EPISODE 149: The Small Business Succession Crisis & New Possibilities in the AI Age @JTLonsdale sits down with @BuySellSMB, Founder & CEO @OperateUSA. (00:00) Episode intro (01:25) Willโ€™s entrepreneurial journey (04:15) The small business succession crisis (06:40) American
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    If youโ€™re buying a business doing less than $2,000,000 in revenue and itโ€™s your first acquisition, please read thisโ€ฆ
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    There's a guy rolling up HVAC contractors in Texas. He focuses on 2 things when looking at a target: 1) How many techs? 2) How many inbound calls does the biz get each day? Most everything else comes down to his ops playbook. He's bought 6 in last 18mos. All < $1M Ev.
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    I run a $40M SMB acquisition marketplace. Over the past 2 months, the market has seen a ~30% drop in sellers listing their businesses for sale. Hereโ€™s some details, with my personal thoughts, and how it affects buyers.
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    Yesterday I consulted a searcher who had a small $1,100,000 HVAC deal blow up. He was transacting with the seller, all was well, but late in the transaction the sellerโ€™s son who didnโ€™t work in the business had a sudden urge to inherit the company.
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    Buying a business is hard, and yes, we're all one big dysfunctional family. #SMBtwit > everything.
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    Silly thought experiment for searchers out there: Imagine you owned a car. Like a 10yo car. It's a cool car, but it's used and not in the best shape. But it's yours! You like it. You have no plans to sell it. Now imagine all these random people called, texted, emailed about
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    Just spoke with an ex-corporate guy. Had a bad experience with pool cleaners. Started his own. $0 to $1M in rev w/in first 10 months. Set to hit $2.5M rev this year (his second). Already has offers from 2 PE firms. He's not selling.
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    The $70 trillion dollar Silver Tsunami isnโ€™t going to play out the way everyone thinks (it will be way better)โ€ฆ Hereโ€™s my prediction for the next 20 years of Entrepreneurship Through Acquisition:
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    Replying to @BrentBeshore
    The ice bath is where itโ€™s at. You go numb after 30 seconds. Cold shower is indefinite pain.
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    First time SMB buyers: The first 30 days in your acquisition is critical. We help our buyers design 30 day transition plans. Hereโ€™s a deep look at one example:
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    Dear Santa, I know itโ€™s a bit last secondโ€ฆ But all I want for Christmas is a $1M+ SDE, recession resistant, recurring revenue, low customer concentration, passively owned SMB. Merry Christmas, Your favorite MBA p.s. 3x multiple or less please! p.p.s And close to a top metro!
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    Replying to @BuySellSMB
    Youโ€™d be much better off focusing on qualitative factors before quantitative. The framework Iโ€™ve started to talk to searchers about is based on Ginoโ€™s from traction. 1. Do you Get it? 2. Do you Want it? 3. Can you Do it?
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    Why are the people who cost $1,080/hr the only people who respond to me at night?