Michael Girdley (@Girdley), and Mills Snell (@thegeneralmills) are joined by Codie Sanchez (@Codie_Sanchez) to discuss 2 awesome deals: A Coin Laundromat & an accounting practice. We dig into the Laundromat business: valuing assets, operations insights, and what to look for. What makes a good or a bad CPA deal? What is the segmentation around this kind of firm? Tune in!-----Thanks to our sponsors!
* CloudBookkeeping offers adaptable solutions to businesses that want to focus on growth with a “client service first” approach. They offer a full suite of accounting services, including sophisticated reporting, QuickBooks software solutions, and full-service payroll options.-----
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(01:00) - Cloudbookkeeping.com(02:29) - Codie Sanchez Intro(06:00) - What does your portfolio look like today?(12:08) - Deal 1: High Volume Coin Laundromat for Sale(14:58) - What do we think about it? Is the RE included package relevant? (19:22) - What is the typical lifespan of one of these machines? How do we understand its value?(20:56) - The 3 important things to look for in a Laundromat Deal(21:42) - How can we forecast repair costs?(25:29) - Are we going to find distressed companies for sale?(28:47) - Can you raise prices? Where can you outcompete other players?(34:05) - Do we like it? How can we make it work?(39:10) - Deal 2: An accounting firm for sale(42:06) - What do we think about it?(46:04) - What is the segmentation around these kinds of firms?(48:40) - What should you ask yourself before buying this business?
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.
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