Acquiring Minds Turning $25k into a $3.2m Exit in Under 4 Years
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Mar 26, 2026 Corey Mullins, an HVAC tradesman-turned-entrepreneur who founded Cool By Design and bought a legacy HVAC shop, tells his $25k to $3.25M build-and-exit story. He discusses buying a failing business for its phone number and truck. He covers growth via online marketing, hiring mistakes, building-to-sell financials, and choosing private equity over searchers.
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Bought A Business For Its Phone Number And Truck
- Corey bought a failing 1975 HVAC company mainly for its phone number and a 2020 Mercedes Sprinter, paying $100,000 total and using the truck value as $50,000 of that price.
- The seller's son stayed on as a technician for three years, preserving customer relationships and generating enough first-year net to recoup the $50,000 goodwill bet.
Price For The Future Not Today's Size
- Build your business to be sellable by pricing for the business you want, keeping books clean, and separating personal and business finances.
- Corey emphasizes paying taxes and avoiding creative accounting so you can capture 6–12x valuation multiples later.
PE Wave Creates A Time-Limited Window
- HVAC and home services are in a private-equity consolidation window that creates rare exit opportunities, but cycles have a beginning and an end.
- Corey tracked deals in industry groups and saw Big Money enter, sensing a limited-time window to capture high multiples.