Buy Fast: A Good Reason to Buy Small | Rob Carpenter Interview

You've heard the debate about buying big versus small many times on Acquiring Minds. What is discussed far less is buying fast versus buying slow. Today's guest was determined that his search to buy a business not consume countless months and years of his life. So Rob Carpenter bought an existing territory of a home cleaning franchise with $200k of SDE. Yes, very small. But kicking off his search to getting in the seat as owner took 90 days, end to end. As of this interview, he's well on his way as a business owner. Now, of course there is nuance here. There are good reasons to be more conservative than Rob was, which he acknowledges and we explore in depth. But I think you'll agree that his attitude is refreshing — and important. Beware the danger of assuming your search will take 12 to 24 months; such an expectation can become self-fulfilling. That is but one theme among many in this conversation with Rob, which I think you'll enjoy. This is Rob Carpenter, owner of 3 Merry Maids territories in Colorado. ❤️ Enjoy this interview? SUBSCRIBE for more: https://bit.ly/42hLnN0 00:00:00. Rob’s background 00:04:43. Working toward fast food automation 00:07:13. Challenges in AI development 00:10:25. Transition to small business acquisition 00:16:58. Search criteria and acquisition strategy 00:28:17 The Merry Maids acquisition 00:32:40. Rob’s roll-up plan 00:39:24. Rob’s deal structure 00:43:42. Navigating the tough buyer’s market 00:47:17. Advantages of franchise systems 00:53:15. Operational improvements and tech integration 00:59:42 Addressing high labor turnover 01:04:13. Benefits of negative cash cycle 01:08:51. Expectations for revenue growth 01:12:54. His wife’s cancer treatment 01:20:25. Intellectual challenges of small business CONNECT with the Acquiring Minds podcast, socials, etc. 🎧 Podcast on Spotify: https://open.spotify.com/show/2vZrl0u... 🎧 Podcast on Apple: https://podcasts.apple.com/us/podcast... 👉 Get notified of new interviews: https://acquiringminds.co 👉 Follow host Will Smith on Twitter:   / whentheresawill   👉 Connect with host Will Smith on LinkedIn:   / willsmithsf   ABOUT Acquiring Minds Acquiring Minds is a podcast about buying businesses. Acquiring an existing business is an awesome opportunity for many entrepreneurs, and host Will Smith talks to the people who do it. New episodes 2x per week. #business #acquisitions