Cliff just closed a deal! · The Acquisitions.com Community

Cliff just closed a deal!

We talked to Cliff, who combined two businesses for a win in Jacksonville, FL.

Here’s Cliff’s journey:

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📈 Cliff spent months searching through different industries before focusing on his local area. Persistence led to finding two businesses under one roof, worth $2.1M in revenue.

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💼 The purchase price was $1.1M, funded through an SBA loan. A clever move as the first six months of payments are covered by the government. That’s $60K back in his pocket!

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🛠️ Key to success: Targeting local, established businesses ready for retirement. Cliff found two owners wanting to sell, ensuring a smooth transition.

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🌟 Retaining one of the previous owners as an employee for five years to mentor and guide the transition. Protecting their legacy and ensuring stability for employees.

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📊 Due diligence was thorough. Cliff worked with an SBA attorney and a CPA who deferred payment until closing, ensuring all financial and legal aspects were covered.

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🏢 Building rapport: Multiple Zoom calls with the business owners, emphasizing employee care and legacy protection. They chose Cliff for his commitment to their team.

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🚀 Growth plans include modernizing their outdated website and implementing a strategic marketing plan. Targeting to double the revenue to $5M in 4-5 years and then sell for $6M.

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Never quit. Cliff’s journey is proof that with patience, persistence, and the right strategy, you can achieve incredible success.

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