Most Important Factors to Know When Buying a Business: Contacting the Owner

This is video #3 in my series Most Important Factors to Know When Buying a Business.

You know your acquisition criteria and type of business so now it is time to approach businesses.

This video walks you through this conversation and just know this is a number's game so keep going.

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Roland Frasier is co-founder and principal of three current Inc. Magazine fastest-growing companies and he has founded, scaled, or sold 24 different 7 to 9 figure businesses ranging from consumer products to industrial machine manufacturing companies with adjusted sales ranging from $3 million to $337 million.

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[MikeyDonios]

Again a great source of information and I really enjoy the conversational approach.

[dzyahscloud]

This video is so helpful, especially how this is going to be my next step.

[zacharymeiu]

Loving this content right now! I was one of the original members in your EIN group many years back. Unfortunately at that time I went through some other major life changes, so instead of acquiring businesses I chose to buckle down and grow my existing company. This ended up being a HUGE blessing as it's given my family and I a great life.

I always though had this craving to get back into this. My knowledge of direct response marketing, systems/processes, and team building are my "super powers" and what I enjoy over seeing from day to day. I started doing my due diligence a few weeks back including going back through all of my old EIN materials. I've also met with a handful of local business contacts this past week to discuss what I'm looking to do and I have appointments set up every day of the week for the next 2 weeks to keep planting the seed of buying companies and if I can be of assistance in any way to the people I am meeting with.

Thank you very much Roland for putting all of this content on YT. It's really helping my confidence grow through this journey. I truly appreciate you!

[DarioMurrieta]

Very Helpful, i see business acquisitions very similar to approaching sellers in real estate or talking to agents, just learning a new skill here, thanks Roland! ✌

[Roosters]

Really good practical information about approaching another business for acquisition!

[bernoldychrispin]

Roland is great at what he does he has a lot of experience and knowledge I love his energy and business approach

[abellara]

Super valuable information. Thanks Roland 💪

[OhRockoh]

By far the most information given in one YouTube channel! Love it!

[freddiekustaa]

Thank you so much for this... very informative....🙌🙏👍.... I am still trying to get your book....

[nickross]

Can we get that data sheet you talked about?

[javierrodriguez]

Can you do a video about OPM ( Other people's Money)

[exyhogb]

Thanks Roland! The content is very practical! The key points are what is the company and who is the owner. English is not my native langurage, I watched and paused to make sure I understand exactly. Valuble information! Thank you❤ After the first chat/approach, what is our next step?

[ming]

What would be the best approach for the request of seller financing?

[NoRace]

Hi Roland, Love your channel! I work at Costco. Currently we outsource a local Small business street sweeping service to clean our parking lot at night. The owner most nights does a poor job and my management is unhappy with him. As a thorough person, I believe I could complete the job better and more efficiently than him. So I'm interested in acquiring his buisness and expanding it. Do you think it's better to buy Similar equipment and just Offer Costco my services Or Try the acquisition route?

[lukebecker]

Hey Roland, great video! I’m curious, how do you research these companies and figure out what their revenue / profit is if they aren’t public companies? Thanks!

[stevenburton]

When I find a viable business to consider for acquisition, do you have capacity to analyze the numbers and give a "gut check" before I move forward? In life I have found it wise to take counsel with qualified individuals when contemplating business/life endeavours.

Steve


Thank you for your consideration.

[derekf]

What do you say when the owner says Investment what are we talking about here money, etc? Some owners can get very aggressive and want you to get straight to the point because they are busy. If you then say you are looking to acquire their business they can then shutdown. While it's less aggressive upfront to cone from the Investment angle sometimes its also good to get straight to the point but in a non aggressive way.

[itsjusteii]

Any videos for beginners, with no business background/knowledge experience or no money. Where should I start?

[joewoerly]

What do you say if you call up a company and the person that answers the phone isn’t the owner? Let’s say it’s an employee, or desk person, that answers.

[Pernection]

Then they ask do you have any experience in the industry