Jake Parsley (@ParsleyETA) / X

Jake Parsley

774 posts

Jake Parsley

@ParsleyETA

Small business transactions at SMB Law Group. Minnesota. Always happy to talk deals. I'm good for about a tweet a week.

Minnesota

Joined October 2021

Pinned
Jake Parsley
@ParsleyETA
Dec 9, 2023
Time for a quick re-intro for the new followers (both of ya!): - I'm an attorney exclusively focused on M&A. I’m the small-deals guy at @smblawgroup, and I’ve been working SMB deals since 2011. You want to buy a business doing $170k earnings at 2.5x? I think that’s frickin’
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Jake Parsley
@ParsleyETA
Sep 15, 2023
I'm buying a $210k cabin in northern MN with three of my fishing buddies from college. 830 square feet. No running water (we DO have electricity). Investment returns will mainly be large-mouth bass. Wife is on board because she's the best wife. ...but am I an idiot?
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Jake Parsley
@ParsleyETA
Oct 27, 2023
Replying to @bentigg
I love small deals and the people who do them, and I've probably worked a few hundred deals <$1m EV so let me throw a few arguments out there in favor of the underdogs! I find the following generalities hold true: 1. They are easier to find. There is less competition. 2.
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Jake Parsley
@ParsleyETA
Jan 30, 2023
Hey everyone – unless you're one of my OG 49 followers, you’re probably reading this after seeing that I’m the newest addition to the SMB Law Group. I’m Jake, an M&A lawyer out of Minnesota. For the last ~7 years I’ve been practicing on my own doing business transactions.
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Jake Parsley
@ParsleyETA
Aug 14, 2023
Just got off the phone with a guy who bought a manufacturing business in September of 2022 for $450k. He's under LOI with PE for $4.5m. Is this an outlier? Of course. Is the deal done? No. But good heavens, what an ROI if it does. I'm thrilled for him. The business he bought
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Jake Parsley
@ParsleyETA
Jun 18, 2024
I'm thinking about buying a car wash in a small upper-midwestern town with my little brother. I'm a M&A lawyer. He's a public school teacher. I wash my car at Sam's club for $6. That is the extent of my car wash knowledge. You know those fancy full-service car washes you see
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Jake Parsley
@ParsleyETA
Feb 16, 2024
There's SO MUCH info about LOIs out there! Let's add more (by advocating for less). Reasonable minds may differ on this, but if you're looking at smaller Main Street deals (say, <$2m EV), I think it's better to send that LOI instead of sweating the little details (or paying
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Jake Parsley
@ParsleyETA
Aug 18, 2023
People get pretty riled up about law school tweets. Here's what I have to say about it (Probably only lawyers will care about this): I enrolled in a not-T14 law school in '07 (Minnesota). Only school I applied to. I was on the waitlist until August. I did not get a scholarship.
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Jake Parsley
@ParsleyETA
Sep 15, 2023
Replying to @inclinejj
Out of the four owners, two of us are lawyers. We hear you and this will definitely be addressed, likely with hilarious results.
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Jake Parsley
@ParsleyETA
Mar 18, 2024
This is insane. How am I part of this rocketship? 14 months ago I was just some dude working in his home office in Minnesota, slinging small deals, making fun of business brokers, and learning something new every day. But now? I'm some dude working in his home office in
SMB Attorney
@SMB_Attorney
Mar 17, 2024
Partnerships can be challenging. But, if you’re trying to accomplish something great, you need help. We’re trying to build a firm that will change the face of small business M&A and, in certain ways, the legal profession. I couldn’t do that alone. At @smblawgroup, our core
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Jake Parsley
@ParsleyETA
Dec 20, 2023
If you're looking at a <$1.5m biz, it's not dumb to roll your own LOI. Ping me for a template geared to smaller deals. Whatever you do: Include exclusivity. Make the exclusivity legally binding. Make the exclusivity as long as possible (start with 60 days). You got this!
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Jake Parsley
@ParsleyETA
Mar 2, 2023
Choose Your Own Adventure! I'm trying to show the practical value of holding cash in a biz acquisition. Hypothetical: You buy a Biz from Joe. Do you pay: A. $1m all at closing OR B. $1.1m with a $200k Seller Note (say 5 years, 8%). (Go ahead and write down your choice)
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Jake Parsley
@ParsleyETA
Oct 19, 2023
People selling businesses can do crazy things. Was just talking to a guy about a deal where Seller needed to carry a bigger note to make the deal pencil. The Seller instead opted to just discount the price without increasing the amount of the Note. 🤯 Let's break that down:
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Jake Parsley
@ParsleyETA
Oct 11, 2023
This will be my only comment on the situation in Israel because I’m generally uninformed and nobody is following me for my Middle East takes, and I certainly don't have any answers. But I’m having a hard time talking about small business deals since the events of last week and I
Yael Bar tur
@yaelbt
Oct 10, 2023
If Yaacov, the father of Noa Argamani who was kidnapped and is held captive by Hamas can still believe in peace, so can I. The biggest F you to the terrorists is not to let them take our hope. They won’t win, we will 🇮🇱 ❤️
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