Truc Nguyen has acquired 2 nail salons, an overlooked but fragmented industry where businesses trade at low multiples.

Register for the webinar:

• Negotiating Working Capital in SMB Acquisitions - Tue, May 26 - https://bit.ly/4eQfCTR

Topics in Truc’s interview:

• Why she chose the nail salon industry
• Her vision for a rollup
• Analyzing a current nail salon business listing
• Low multiples in the nail space
• Bargaining power of good nail techs
• Square footage and number of chairs matters
• Documenting SOPs for her first salon
• Staffing a 7-day-a-week business
• Creating a great company culture
• The changing face of nail salons

References and how to contact Truc:

• LinkedIn
• Sarah Romer on Acquiring Minds: How to Buy a Salon as an Industry Outsider (and Survive)

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

• Pioneer Capital Advisory

The ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business:

• The Acquisition Lab

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Edited by Anton Rohozov and produced by Pam Cameron

Gant Elmore and Matt Moldenhauer each bought $2m businesses they built over years. Today their holdco does over $200m.

Register for the webinar:

• Revenue Recognition & Quality of Revenue in SMB Deals - TOMORROW!! - https://bit.ly/4dMvx4w

Topics in Matt & Gant’s interview:

• 3 generations of acquisition entrepreneurs
• Matt started as operator, became partner
• Bain mentors warned Matt not to do ETA
• Goal of owning 50 companies by 2050
• Being the Ferrari in a price-competitive industry
• Why they prefer holding to exiting
• Challenge of giving control to an operator
• Gant and his dad teach ETA together
• War stories from small business operations
• Demand exceeds supply of great businesses

References and how to contact Matt & Gant:

• Elmore Companies
• matt.moldenhauer@elmorecompanies.com
• Matt’s LinkedIn
• Gant’s LinkedIn

Download the New CEO’s Guide to Human Resources from Aspen HR:

• From this page or contact jenny@aspenhr.com

Get a free review of your books & financial ops from System Six (a $500 value):

• Book a call with Tim or hello@systemsix.com and mention Acquiring Minds

Get a complimentary IT audit for acquisition diligence or post-close transition.

• Visit inzotechnologies.com/eta.

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Edited by Anton Rohozov and produced by Pam Cameron

Zack Mutnik thought he bought a $1.5m electrical contracting business for 2.3x. The numbers weren't what they seemed.

Register for the webinar:

• Kill It Early: Spot Red Flags Before Spending on Diligence - TODAY!! - https://bit.ly/4eBVO6E

Topics in Zack’s interview:

• Learning leadership in the Navy
• Managing chaos with ADHD
• Undisclosed surprises after acquisition
• Replacing 8/10 employees
• Heavy emphasis on company culture
• Deciding to change the business name
• Training his employees to be independent
• Growing revenue despite a rocky start
• Marketing is not a quick fix
• Finding employees in a rural market

References and how to contact Zack:

• TikTok
• Facebook
• LinkedIn

Get a complimentary IT audit for acquisition diligence or post-close transition.

• Visit inzotechnologies.com/eta.

Download the New CEO’s Guide to Human Resources from Aspen HR:

• From this page or contact jenny@aspenhr.com

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Edited by Anton Rohozov and produced by Pam Cameron