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Michael Girdley (@Girdley), Bill D’Alessandro (@BillDA), and Mills Snell (@thegeneralmills), we talk about a fun deal in Dallas-Fort Worth, Texas on a Highly Profitable Dog Resort & Daycare. We find out whether this is a growing market with its extraordinarily high margin, the pet industry's macro characteristics, fascinating financing pieces, and the seller's flexibility make for successful negotiation.

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“Thanks to our sponsor!

Live Oak Bank - Whether you’re looking to build, buy or expand your business, let the team at Live Oak Bank be your financial guide. With Live Oak, you get a partner who believes in your success and is willing to take the journey alongside you. We provide small business loans tailored to your goals.

Fuel the growth of small businesses across the country; bank with Live Oak Bank.

You can contact Heather Endresen, Director & Founder at heather.endresen@liveoak.bank. Mention this podcast in the subject line and ask her about office hours to get in touch.

*Live Oak Bank is the #1 SBA 7(A) Lender. The data supplied by the SBA reflects 7(a) highest dollar volume during FY 2021.”

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Show Notes:

(00:00) - Introduction

(01:15) - Our Sponsor is Live Oak Bank

(02:23) - Deal & financials: Highly Profitable Dog Resort & Daycare

(04:36) - We’re not acquiring any Real Estate on this deal!

(07:59) - What is particular about these customers and what is the arms race in this business?

(10:03) - Is this a moat-able business?

(13:00) - Can this business be all fun or is this sneaky? Are there regulation requirements here?

(14:28) - Are there any upselling opportunities to gross your net margins?

(18:03) - What happened with the TAM after COVID on these?

(20:27) - Don’t skip these topics when talking to the seller!

(19:01) - Why is it so risky to operate this business? Where will you spend your time protecting your investment?

(21:05) - There's something we're missing: What doesn't seem right about the price?

(24:29) - What would @BillDA think about negotiating this Deal?

(26:49) - What is your ceiling for this business? Think about buyer-business fit!

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