Deal talk with first-time searcher Brock Briggs - Acquisitions Anonymous Episode 93

Mills Snell (@thegeneralmills) is joined by Brock Briggs (@BrockHBriggs), first-time searcher, to talk about 2 deals: A Florist company and a FedEx P&D Routes one. We talk about: operational aspects, financial modeling considerations, the trade-off of bringing a Limited Partner in, separating real estate from a business: when should you do it and how to limit your exposure as a buyer, and much more. -----Thanks to our sponsors!MicroAcquire is the #1 startup acquisition marketplace. It is simply the most efficient way to buy and sell startups when you’re ready to make your next move.-----* Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.* Do you enjoy our content? Rate our show!* Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.-----Show Notes:1:27 Microacquire3:20 Brock’s background5:08 What are you searching for Brock? Where are you in your search process?6:48 Deal 1: A massive Florist for sale in CT10:00 What do we think about this one?12:14 What’s the potential upside from this deal? Where’s the ceiling? How does size relate to growth opportunities?15:40 How should we think about the Customer Acquisition funnel? What should we consider from an operational side? 18:01 Don’t assume growth opportunities to be low-hanging fruits20:07 How do we think about weddings as a revenue segment? What should we consider on the operational side?24:40 Thoughts on seasonality and part-time labor hiring28:28 Let’s talk about financing: How do we think about bringing a Limited Partner to your first deal? What collateral could you consider lending against? 34:27 Real estate and business. Should you keep them together or separate them? What other options are there for the buyer?42:02 Deal 2: FedEx P&D Routes46:45 What did you like about this one?49:34 Operational considerations, what should we ask the seller? What debt are we assuming in this deal? What is the impact on the listing price?54:17 Is it an owner-operator kind of business? What should we dig into from an operational perspective? What are growth opportunities?56:56 Macro perspective thoughts? Why would I take on a business that FedEx refuses to operate?1:00:25 How do first-time buyers can get comfortable with the risk of things going south?-----Links:* Scuttlebuck Podcast* http://Twitter.com/BrockHBriggs-----Past guests on Acquanon include Nick Huber, Brent Beshore, Aaron Rubin, Mike Botkin, Ari Ozick, Mitchell Baldridge, Xavier Helgelsen, Mike Loftus, Steve Divitkos, Dzmitry Miranovich, Morgan Tate and more.-----Additional episodes you might enjoy:#90 Move over Elon - Here's what we'd do if we acquired Twitter#87 Yelp is not evil! Building a business using digital CAC - Featuring Johnny Robinson from Orange Window Cleaning#86 Rocketship your business with... Twitter?! - JK Molina joins for a Twitter MasterclassSubscribe to  weekly our Newsletter and get curated deals in your inboxAdvertise with us by clicking hereDo you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.Do you enjoy our content? Rate our show!Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.For inquiries or suggestions, email us at [email protected]