How Doug Johns overcame his reservations about being a franchisee to acquire a dream business with $1.8m EBITDA.

Topics in Doug's interview:

Buying a franchise vs. independent business
Opening your mind to a franchise
The many (overlooked) benefits to being a franchisee
Calling yourself "independent investor" instead of "searcher"
Running a search like a B2B sales process
The appeal of a deal with few addbacks
Why home service businesses are so appealing as acquisitions
Loving, rather than running from, managing people
Why the top home service businesses have more sophisticated funnels than the Fortune 500
ServiceTitan
Where the opportunity is when the business you buy is already well-run and mature
Owning a plumbing company without knowing anything about plumbing
The numbers of Doug's deal
The exact multiple is way less important than you think
Using ROBS to buy the business
Why high growth can make a business harder to finance
Understanding debt service coverage ratio (DSCR) thresholds
Doug's tip for choosing an SBA lender
The $500k value of Doug's appeal to the seller
Going to meet a seller face to face

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TFC 77: How to Build your own Investment Portfolio - Part 2