How to buy a company with $0. The independent sponsor acquisition story of EggCartons.com. First hear this story on the My First Million podcast: www.mfmpod.com/
I almost did this last year. I tried combining 3 construction companies for 46 million. Profits combined would be 20 million and revenue 100 million. I revenue based and equipment financing. Even had a bank lined up to refinance. The main seller backed out and the deal fell apart
Hi Gavin, thanks for reaching out. I have very recently found Twitter to be incredible for identifying people working in this space. On CZcams (and all social media channels), @CodieSanchezCT has developed an impressive community around small business acquisitions. Hope that helps!
Who's the banker? Tried to do this for years but no bank (outside SBA) funds 100% even with 25% seller note. Buyer admits to having spent time in jail, no business experience and her personal balance sheet consisted of a RAV4. There is just no banker in the world lending $15M on that. She mentions extremely wealthy benefactors who gave her the idea. They could fund this with a phone call to a private banker. If that's the real story here she should be honest as she's portraying that a $20M acquisition with no equity as possible for anyone with some hard work. Banking reality suggests otherwise. They always say 'skin in the game'. If she had outside 'help' then this is Liver King on repeat.
Timely story as we are gearing up for a few independent sponsor moves.
Very Exciting story.
Pretty wild. Hoping I can get more details! If I do I will follow up.
@@ASimpleModel sure. I try to follow your channel as much as possible so viewers like me are available.
I almost did this last year. I tried combining 3 construction companies for 46 million. Profits combined would be 20 million and revenue 100 million. I revenue based and equipment financing. Even had a bank lined up to refinance. The main seller backed out and the deal fell apart
@@TheMrPorter I’m working on a solar and roofing company. It did 16 million and profit 3.6 million. I can get it for 8 million with 3 million earn out
Smart.
awesome video. Thanks for sharing. Any good youtube channels that discuss more about Private equity in the smaller busienss segment? like
Hi Gavin, thanks for reaching out. I have very recently found Twitter to be incredible for identifying people working in this space. On CZcams (and all social media channels), @CodieSanchezCT has developed an impressive community around small business acquisitions. Hope that helps!
Who's the banker? Tried to do this for years but no bank (outside SBA) funds 100% even with 25% seller note. Buyer admits to having spent time in jail, no business experience and her personal balance sheet consisted of a RAV4. There is just no banker in the world lending $15M on that. She mentions extremely wealthy benefactors who gave her the idea. They could fund this with a phone call to a private banker. If that's the real story here she should be honest as she's portraying that a $20M acquisition with no equity as possible for anyone with some hard work. Banking reality suggests otherwise. They always say 'skin in the game'. If she had outside 'help' then this is Liver King on repeat.