Acquiring Minds The Appeal of Franchise Buying: $1m EBITDA in 2 Years
11 snips
Sep 23, 2024 
Corey Robinson, owner of 12 Batteries Plus locations and an HVAC entrepreneur, shares his impressive journey from corporate employee to franchise owner. He reveals the thrill of rapidly expanding his franchise from 4 to 14 locations, the challenge of managing teams remotely, and the lessons learned from a tough HVAC acquisition. Corey discusses the advantages of franchising versus independent businesses, the strategies behind successful acquisitions, and the importance of maintaining company culture across multiple sites. His insights are both inspiring and instructional for aspiring entrepreneurs.
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First Acquisition Details
- Corey found his first Batteries Plus acquisition through networking, not a public listing.
- The four-location portfolio, generating $490,000 SDE, had semi-involved owners handling back-office tasks.
Batteries Plus Business Model
- Batteries Plus sells various batteries and offers device repair services, catering to both retail and B2B customers.
- Despite online competition, regulations on battery shipping protect their retail business.
Franchisor Selection
- When choosing a franchise, consider the franchisor's structure and dedication to the brand.
- Look for dedicated teams and leadership willing to adapt and evolve the business for long-term growth.
