Acquisitions Anonymous - #1 for business buying, selling and operating - A product invented by firefighters, and a nut kiosk in the Denver airport! - Acquisitions Anonymuos Episode 107

Episode Date: July 14, 2022

Michael Girdley (@Girdley) and Bill D’Alessandro (@BillDA), talk about one cool Deal that has a dried fruits and nuts kiosk in Denver International airport and the other, an Innovative Deal, a professional tool created by firefighters. We also look at ways to scale these deals and the growth potential from a marketing perspective.-----Thanks to our sponsors!* CloudBookkeeping offers adaptable solutions to businesses that want to focus on growth with a “client service first” approach. They offer a full suite of accounting services, including sophisticated reporting, QuickBooks software solutions, and full-service payroll options.-----* Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.* Do you enjoy our content? Rate our show!* Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.-----Show Notes:(00:00) - Intro(00:45) - Our sponsor is Cloudbookkeeping.com(02:09) - Deal 1: A nut kiosk in the Denver airport?!(04:38) - Why is some guy in Las Vegas selling a nut kiosk in Denver?(10:48) - What are the insights when it comes to economies to scale?(13:05) - How to defend from a landlord trying to capture all the value from you?(14:35) - How do we think about potential customers & walking traffic? Is there a chance of cross-selling other products? How?(16:55) - Deal 2: A product invented by firefighters - Cool Deal Alert!(20:55) - Growth potential of the product? Let’s talk about product design, marketing & distribution: Why is this deal so interesting? (25:35) - Channel risk & channel dependency. What should you consider?(28:08) - Branding & potential niches to cover?-----Links:* https://fcbb.com/retail/denver-intl-airport/semi-absentee-owner-denver-airport-dried-fruit-and-nut-kiosks-101-20919-----Past guests on Acquanon include Nick Huber, Brent Beshore, Aaron Rubin, Mike Botkin, Ari Ozick, Mitchell Baldridge, Xavier Helgelsen, Mike Loftus, Steve Divitkos, Dzmitry Miranovich, Morgan Tate and more.-----Additional episodes you might enjoy:#106 A Pet Product and Saas business for sale. Which one do we like?#105 How to Make Money in the E-Commerce Game - Bill D’Alessandro gives an e-Commerce masterclass - part 1#Subscribe to weekly our Newsletter and get curated deals in your inboxAdvertise with us by clicking here Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel. Do you enjoy our content? Rate our show! Follow us on Twitter @acquanon Learnings about small business acquisitions and operations. For inquiries or suggestions, email us at [e-mail]

Hey everyone, welcome back to another episode of Acquisitions Anonymous. We are the internet's number one podcast about buying, selling, and investing in small businesses. This week we have a really fun one. It's just Michael and I. We had two really cool deals. One is a nut kiosk in Denver International Airport selling hot nuts to weary travelers. And the next one is a really innovative firefighter training apparatus invented by real firefighters that is looking for a way to scale.

So we talked through both of these today. Really fun. Michael, I joke around a lot, have a great time. I think you'll really enjoy this episode of Acquisitions Anonymous, but first, a word from our sponsors. Hey, Michael here. Want to talk to you about today's sponsor

for the episode, which is cloudbookkeeping.com. So cloud bookkeeping is actually run by my neighbor, Charlie. So I've met him in person and can attest that he's a real human being and a good person. And what cloud bookkeeping does is offering, a full suite of bookkeeping services all in the cloud for you around QuickBooks and other technologies that you're using as a small business owner. So if you're interested in getting the bookkeeping part of running a business off of your plate and focusing on running your business,

Charlie and his team are one to call. They can put together a bunch of other stuff in terms of helping you manage and grow your business besides just bookkeeping, sophisticated report, definitely helping you get your quickbooks online set up in the right way and a number of things around payroll as well so definitely know them and recommend them if you want to find out more about cloud bookkeeping you can go to their website at cloudbookkeeping.com reach out to charlie i know many of you have and see if he can help you make your running your business easier and more fun by letting them help with a lot of the bookkeeping solutions so and when you call mention this podcast, it would help us and help Charlie know that we're supporting him as well. So thanks a

bunch and cloudbookkeeping.com as the sponsor for today's episode. All right. Welcome back to another episode of Acquisitions Anonymous, the internet's number one podcast on acquiring, selling and investing in small businesses. I'm one of your hosts, Bill Dallessandra. I'm also here with my co-host today, Michael Gurdley. And we've got two deals for y'all. No guest, just the OGs here. And we have a mills today no mills just the two of us running our mouths two idiots two deals here we go okay okay i brought both these deals because i'm super excited about both of them so do you want to do the fire training apparatus for sale or do you want to do the nut shop i want to do the nut shop because that's what this is today okay okay so this deal i found it um our buddy uh ari ozick who is my number one uh number one

friend these days in Israel and a friend of the pod sent me this one. But he was sending me a different deal and sent me a, it was in the newsletter and he goes, check out this other deal currently. And I looked at, I was looking through the newsletter. I was like, oh my God, like this is a crazy deal. Look at this other one. So anyway, I pulled it up. So I've got it here on the screen. And it says all caps, semi-absentee owner. It is a Denver airport dried fruit and nut kiosk. and it is listed by first choice business brokers, and they have a 1-800 number, like every classy business broker does. So the picture here, for those of you can't see it, those of you're not on YouTube,

it is a picture of nuts with a scoop in it. And it says Denver International. And so this is a kiosk that sits inside the Denver International Airport. Category is food restaurant, miscellaneous retail. The asking price for this business is $69,000. It has gross revenue. of $382,000 and total adjusted net income of $60,000. So asking price is approximately $70,000. They're asking slightly less than one-time's earnings for this nut kiosk, which they claim has a $20,000

value of nuts, the little kiosk and all that kind of stuff. It's been there for five years. We're going on six years. It was established in 2016, and it is located in the Denver International airport in the wonderful state of Colorado. So the description is from Trent Lee, who is the business broker. And by the way, his website is sell business in Las Vegas.com. Like, that's some good, that's some good SEOs, right? But also, why is some guy in Las Vegas selling a nut kiosk in Denver? Read the description.

You can figure it out. Maybe we'll get up to there. All right. Very easy to learn. Owner will train for a smooth transition. This kiosk has been operated by employees with the owner, with as the owner has moved out of state already. You can either purchase, right?

Yeah. Yeah, that's why Trent has the list. You know, Trent, I mean, for those of you on YouTube, you can see Trent's photo. One of the things I love to do is look at the broker photos. And one of the things I hate is when brokers wear hats, they always love to wear Shippos. Trent is the other end of the spectrum, which I love, which Trent has done up his hair and has like a good set of hair gel in there. So he's looking pretty solid.

He's also not touching his face, which is the other girly red flag, wearing a hat or touching his face in the photo. Touching your face in a photo is a sign you're potentially a deceitful human being. So the more you know. Okay. So back to the nut kiosk. You can either purchase it as a semi-absentee owner or owner-operator and decrease payroll, increasing your profit margins. Denver is the fourth busiest airport in the United States. Located in Denver Terminal B with very heavy foot traffic is an 8x4 cart with beautiful this

play, computer point of sale, and supplies. For more information, including a detailed confidential opportunity summary of financial information of photos, please use the form on this page and request more information right away. So they do have a bit more numbers here that we should look at, Bill. The base rent is $4,500. I assume that's $4,500 per month. Otherwise, it would be like really cheap.

So that sounds right. They have one full-time employee and five part-time employees, and the owner has since moved of state, I guess relocating from Denver or Colorado to the Las Vegas area and go from there. They have $10,000 worth of inventory and $20,000 worth of equipment and fixtures. Bill, do you want to own the world's greatest nut kiosk in the Denver International Airport? I mean, so they're selling munchies in the Denver International Airport, which is not a terrible business, I would imagine. It seems like a growth business.

So I think I like about this, the guy doesn't live in state. he's got not just employees running it, but multiple employees. It sounds like he's got like multiple people that he can call in if somebody is sick or doesn't show up. So it seems like he's got a bench because it said he had five part-time employees and one full-timer. It's cheap. It's one-time's earnings. And it seems like this is a pretty nice passive cash flow thing. Here's the thing I don't like about it.

It's only $60,000 a year of cash flow. Like this is this is going to take up a fair bit of brain space. I would think for $60,000 a year. You know, just like somebody gets sick. Like I don't know how much you have to organize the who shows up every day and orders more nuts and, you know, pays off the guy at the airport to let your people's do security. Like, I don't know. Right. I'm sure it's all doable, but like there's brain space here.

So like there's a hundred. Yeah, there's a hundred percent chance you will as the owner. scoop and nuts at some point during the year to a customer because somebody doesn't show up the day before Christmas, which is, you know, the busiest travel day of the year or the day before Thanksgiving. Exactly. So like that's the thing. If this were like five times bigger, interesting. Now like, I don't know, can you open another one in a different concourse in the Denver International Report and double your business? Maybe. If you've ever been to DIA, I lived in Denver for six years, flew a lot out of DIA. And

They've got like these huge, wide, long concourses. And there's just all these seize candies. There's this nut shop. There's the one selling marijuana shirts and stuff, you know, with Colorado flags on them. You know, there's like all these things. So there's there's a lot of kiosk. There's a lot of real estate, if you will, in DIA for these things. So who knows?

Maybe you just get another spot in Concourse B instead of A. Yeah. So, I mean, I think the inverse here that has me also scared about this business. is if this business loses its lease at any point, this business value is basically zero. So that is the first thing I would dig into on this business. Like, it's great that it's being sold for one times earnings, basically. Or as you described, one times brain damage. But like the other thing I'd be very interested in, which he doesn't talk about here in the

listing, so it has me a little spooked, is what is the term of the lease that they have? And if this lease is only like another year and it's a year to your options, like what are you actually buying here? Because you take a nut kiosk out of this thing. Like, okay, well, maybe then you take it to a mall. But other than that, like, nobody, there's no other place that nut kiosk works. Maybe you do it at a ballpark. But anyway, there's no other place you can do this business other than an airport, I think. So that scares the heck out of it.

Maybe he knows that. Maybe he's got a year left in his lease. He expects to make $60,000 in a year. And you want to buy it for $60,000. And that's why it's priced at one X. that just makes sense and then what am i left over then i've left over with a kiosk and a bunch of so basically you get your money back in a free kiosk free not kiosk and some brain damage yeah uh and some brain damage i mean it is interesting to ask why haven't these guys why do they only have one like

couldn't you wouldn't you have expanded by this point it seems like the capital required to start it up is pretty negligible i mean they have 30 000 dollars here required to generate a business that basically does 2x of invest in capital per year. Like, why did they only stop at one? I don't know. This is the type of thing, like, you wouldn't be surprised to find out that the owner does own 10 of these, and this is like the worst one. And he's like trying to offload it or something.

You know what I mean? So I don't know. Like, the thing that's interesting about this business is like, if you were to get more than one, though, how many synergies are there really? because, you know, you could, I see synergies if they're like in the same airport. But let's say the airport's like, look, we got enough nuts. Like one nut kiosk is enough. And you open another one in Las Vegas airport.

Like there are zero synergies, right? I mean, there's like each airport is his own country. It's behind security, basically, right? So like there's probably no overlap in supply chain. There's no overlapping employees. Like maybe you got a little scale buying the nuts, but I would think you got to buy a lot of nuts to get scale on nuts. So like, you know, like you can make this thing bigger, but it doesn't. There's no economy of the scale, I wouldn't think.

You know, this would be a fun business if you're like, you know, a retired, a retiring couple. You know, that could be a fun thing for you. Like, the most fun thing you could possibly do is show up and sell nuts for 10 hours a day. And actually the reason I thought about this is the UPS store franchising near me. I went in and go talk to these folks because I needed something notarized. and like they were both like 80 years old and it's a husband and wife team and they're just like the cutest little things and uh they've got the most beautiful well organized uPS store ever and i was like why are you guys doing this they're like we were bored we just wanted to own

something and this gives us something to do it's low stress and we get to say hi to everybody every day i mean potentially this is a great business to have a few you know if standing standing on a street corner in the in the airport selling that seems like fun to you like by all needs. Go ahead. But man, it's better being a great or a Walmart, right? Keep yourself occupied. Better than driving Uber. I don't know. I don't hate it. Michael, have you ever looked at like mall kiosk businesses, which this reminds me of, you know, are like, have you ever seen like the chains of sunglasses kiosk or, you know, thumbcase kiosk or have you ever looked at businesses like that?

No, I haven't. I mean, I know the way those mall owners operate from a landlord perspective. Like, they are consistently trying to capture all the value from the retailers, which scares me. It's like, okay, well, we're taking, you know, we're going to have a natural breakpoint and we're going to take the greater of X numbers of thousands of dollars per month or 20% of your sales. And you get to be the only phone case sales players in the mall, which I think is why you end up with a lot of those businesses being like these super high margin tourist drappy kind of things, like T-shirts, you know, the phone cases, stuff you're talking about that sells at 90% gross margin because that's the only way you can do it when the landlord's like trying to capture all the

value from you but have you have you looked at them i just i just know theoretically sounds terrible to me so i have not looked at buying them i actually know several people in my e-com circles who have opened them as a supplement to their e-commerce store basically like they were selling up their own proprietary stuff on the internet and instead of like taking the product to retail they said well why don't i just open up a couple mall kios i see it happen a lot for season products because you don't want permanent real estate, like you want like a pop-up shop essentially for three months to sell bathing suits or whatever, you know, sunscreen in the mall. And they will do short-term leases.

It seems like they will turn you over, you know, and then they'll bring in a Christmas kiosk in the winter. Yeah. So I have seen people do it. I haven't seen anybody like blow the doors off, but there are a couple of people in e-commerce people that like do this every summer, you know, with like five to 10 of them. and it brings in extra revenue. Huh.

I dig it. I dig it. Okay. So here's a back to the nut thing. Would there be, would there be any way to kind of strategically take this as a platform and potentially raise the sales a lot? Because I think if we could get this to say double the sales, right?

And make it throw off 120 grand a year as opposed to 60. That's much more appealing from stuff. So I'm just thinking, is there anything? And maybe they're precluded by the lease from doing it. But is there anything you could sell here or add as an ancillary thing to nuts that would make this like a better business based on just the investment that you have? So chocolate comes to mind, but I don't know if they're precluded from selling kind of gift boxes and stuff like that. Yeah. I mean, it's your kind of your foot traffic is fixed, right?

So it's all about increasing average order value or potentially making more people stop by selling an interesting product. Let's assume for the second your lease does not restrict you, right? Like there's not a second chocolate kiosk down the way like you mentioned Michael. and that they're the exclusive chocolate people. Chocolate makes sense. I want to understand, like, are people buying these nuts to eat them right now? Or are they buying them as a gift? I don't know.

That depends. Like, so, like, if they're buying to eat them right now, like, you got to sell drinks, obviously, right? I mean, preferably alcoholic ones, if the mall will let you. But, you know, like, you cruise it around the mall, drinking your beer, eating your nuts, you know, this is like, sounds great. But at the very least, you got to sell soda or some. thing. Yeah, yeah. So my friend, she owns an anti-annies, you know, the pretzel place. And it's like a combination anti-anis and maybe Cinebun. It's like something like that. It's like one of those combo ones. But so guess what her number one skew is by far? At Annie Ann's, it's not a pretzel.

Uh-uh. Is it, is it? It's in the airport. I will give you a hint. This is a, this is in the airport. Oh, it's got to be booze then. It's got to be. Now, it's. at her most basically the whole kiosk she breaks even on the pretzels and the cookies and crap she makes all of her money on selling bottle water really interesting

yeah yeah I was like I was like like mine below it was like with pretzels on the side yeah it's like the pretzels are just like the pretzels are just a lost leader so we can sell bottle water it's because of the smell brings you in and then you buy water.

They are unreal. Unreal. Okay. So, cool. I think we've beat the hell out of this, this nut thing. I just thought it was so cool when I saw it. I was like, oh, like, who doesn't want to own a dried fruit and nut kiosk in the Denver airport?

Like, come on. Oh, yeah. Cool. That's a fun one. That's a fun one. All right. So you want me do deal number two? Let's do number two.

Number two is also. All right. So one thing I do want to do because this came from our buddy, Andrew, at Microquire. And every time I've been on a call with the injuries had a hat on backwards, so I'm going to put my hat on backwards for the, I got to do it for the peeps. All right. So let me share this new one. So what this one is, it is on Microacquire, who by the way is a sponsor. And we love them for sponsoring us. And so what this one is is, and I'm a customer of MicroQuire. So I get to see more data than normal folks. This is a business for sale for $367,000. at a three times revenue multiple. I love how Microacquire just always assumes that it will be a revenue multiple. It's like COVID.

Yeah, why the hell not? Why the hell not? Yeah, you got to lean into what you know. So they have between 10 and 100,000 customers and a seven-year-old business with two team members. So it was started in May of 2015, and right now it is July 22, is an e-commerce startup located in the United States. And the title of it is Firefighter Training Tool Manufacturer. And that is an e-commerce business that had done 122,000 in the last 12 month revenue and 40,000 in profits.

So 30% profit margin. And what it is is they sell a training device for firefighters designed to simulate the use of a self-contained breathing apparatus. So that's the thing that they put on their face when they go in to fight fires or there's smoke and that sort of thing. And the firefighters have the oxygen and compressed air in their back that they carry in. And so what this device does is it helps prevent line of duty deaths by allowing more frequent and realistic training. Okay.

So basically, if you're going to learn how to function with one of these breathing apparatuses on, this gives you like a simulation of that. So they did 14,000 in revenue last month. So again, the twirling 12-month revenue is 12-2,000. And they did 8,000 in profit last month with 40,000 over the last 12 months. there is a competitor, a company called Training Mask, which I will Google here in a second when we start to talk about this, and look at it from there. So the business is growing. So they grew 33% last year. They do have a P&L.

And they contract out their manufacturing assembly and packaging. And they only sell wholesale in orders of units of 100 units to large distributors with sales staff in the fire service industry who then sell our products to fire departments, fire academies, and individuals. And they sell an injection molded physical product. So they see the different ways to grow the business. You can add new product lines dedicated sales staff and new industries, including military, oling gas and industrial. So what this does and how it works is it connects to an existing firefighter mask, allowing each person to train his or her own equipment.

It can be used in simulated fire drills or just during workouts. It is designed to let each member of the team department train as often as possible while experience the sensation and full effect of the breeding apparatus. I've never worn one of these breeding operatives, Bill, but I've got to assume that it just, you have to pace your breathing. It's kind of like scuba. You're a scuba in normal air where you got to just breathe the right way or you can totally screw stuff up. I know when I did scuba training as a kid, they were like, here's how you can hyperventilate it, 50 feet below the water and drown.

Like, don't do this. So I think there's stuff you have to do. At risk of pointing out, the obvious scuba stands for self-contained underwater breathing apparatus. So that is basically what they're selling here is without the underwater part. It's a practice breather. Perfect. We currently contract our manufacturing and sell our two products, exclusive to large distributors, the stocking quantities,

and then they sell on from there. And they claim to have a third product ready for new launch. Lots of ways they think they can grow the thing and what you get. So the founders, and the reason they want to sell is they are full-time firefighters. So they're eating their own dog food here, building something that they wanted. And their highest calling is public service. We launched this business based on an idea for training.

We headed our fire station. And we have been managing it part-time since launch and have reached our limit for what we can do in that capacity. The product needs a dedicated team to continue to grow and they bootstrap the company. So no investors. Wow. So what do you think? That is so cool. That is so cool.

So I think I might love this one. So the thing that's, so it's growing, right? Because it's 120,000 in TTM. But if you multiply the last month, which is 14, 450 times 12, if you've got 170, 73,000. So that's, maybe they just had a good month. Like I'd want to understand is this very seasonal. But it seems like you said they also were quoted 30% year of year growth. Like seems like it's growing. Seems like it's working. I love that it was designed by real firefighters, which means they probably know what the heck they're talking about. I also love that they manufacture it and they

only sell it in wholesale orders of 100. Like they don't, sounds like they don't sell it online at all. And my sense, I don't understand the firefighter industry that well, but I do know a guy who knows it super well is our mutual friend, Justin Turner, who owns a fire distributor in the Pacific Northwest. So I would immediately call Justin and say, you guys need to carry this product. How do I go out to all of the firefighters and get it in all these firehouses? But my sense is like all these firehouses are basically like small businesses. and they would probably like to buy it on the internet, like a couple of these, like on Amazon Prime, like if you could just teach them about it. So what this is, is I think, a product that is a great product with no marketing engine

at all created by a couple firefighters and they've gotten this far just because it's a good product and they know people in the firefighting industry, but they've never tried to like put the candle on the hill at all. And if you're the type of person that knows how to do marketing and can get this product in front of people who are firemen, I think you could grow it a lot. Yeah. This feels like one of those ones where like there's got to be a corner of like firefighter YouTube that like I would just dig into and just be like, okay, how I'm going to go like get into

this market like sponsor the firefighter podcast. I mean, look, we have a podcast on small business M&A. There is definitely some firefighter podcasts that are out there. So I would go through all those kind of stuff. Yeah. Side note, I just listened to a podcast called the Fighter Pilot podcast the other night. And they ended up doing it out behind the scenes and the new Top Gun hosted by this ex fighter pilot. And he has all these other fighter pilots on the podcast.

There is a podcast for everything. There is definitely a firefighter podcast. That's amazing. So I did Google their competitor. It's a training mask. And two different ones came up. So for those of you on YouTube, I pulled up training mask, which is coincidentally located at training. Mask.com. But then the number one competitor comes up is this one, Blask mask. Blast mask.

Which looks like, if you were like Gurdley, design me a website that looks like it was built by firefighters. And like this, it would be this, like red and black, like real like, yeah. You know, there is fit and then there is battling in the flames in the fourth hour of five alarm fire fit. You know, it's like the most perfect. It's like, try to target target. Target. firefighters. So yeah, so this may be them actually. And there's pictures of these masks here. They have a 210 model and a 110 model. So consistent with what the description said, two, two pictures with a new model coming out this year for the Scott CS. So my guess is this is actually. How much does it cost? Click on the get yours. Like what's what's the price point on this thing?

Bill, do you want the 110 model or the accelerated 210 model? Give me the 210 model. I guess this is high. I can't tell if this is like the high end water. It's just it fits a different mask. Go bigger, go home. And let me pull this up here. It's $119.19. See, I like that. That's expensive enough that you could run some ads. You can afford some sponsorships.

I also just looking at this thing, it's not that big. It looks like it's about the size of like a softball roughly. So it's small, light, easy to ship. I think this is pretty cool. Like, this is never going to be a huge business. Like, let me be clear. Right. But it's doing, you know, 150-ish in revenue right now.

Now, could it do a million? I think it could. I mean, I think this is 10xable. Yeah. So this actually, this link actually goes to a third party firefighting distributor, which I think is something you like about it, right? You're not trying to sell $20, $19 things with direct sales to, you know, firefighters and Topeka.

Like you're counting on E Darley or one of these guys to do it. Now there's a downside to that, which is you have channel risk and channel dependency. But all and all pretty cool. So what's interesting is if you're not on YouTube, Michael just clicked on the Buy Now link on their website and it took you to their distributor. So there's no native e-commerce on their website at all, which means this $120 fire mask, they probably sold a distributor for $50. Right. So if they could get like some podcast going or some Facebook ads or firefighter YouTube or whatever, you just go from making $50 a mask to $120 a mask, right? I mean, less cack and all that stuff. But, This is an opportunity to say, maybe you go, hey, firehouses, like, to go to firehouses, I will use distributors. But to go to the firefighters directly, I'm going to stand up e-com, right? And that, and I can run ads to that.

And you create this kind of dual channel. So what I love about it is that they already have the firefighter distributor channel going, and they're totally absent on the D to C, which, given the fragmented nature and the volunteer nature, like it's sort of like teachers. Like, you know how teachers often use their own money to buy their own classroom supplies? I could totally see firefighters who are enthusiasts. If you're a volunteer firefighter, you just kind of love firefighting and fire equipment and all that stuff. You could totally see them just spending their own money on this thing.

Right. So I think that's D to C business model right there. So let me give you, I'll give you a new target market that I don't even think they're thinking about. And I can tell them that it's a real target market because I'm a member of this community is CrossFit Idiots. And I as a CrossFit idiot myself, like the things that CrossFit people love to do is like do things that look like you're super hard and tougher than the next guy, but you're really not. Right. And so one of the things that like Rogue and some of these other suppliers to CrossFit morons like myself do is sell us like these masks that make it harder to breathe. Have you seen?

Yeah. They just make you labor in your breathing, right? You look. Yeah. It's like pain, right? It's like the. Yeah. So I think.

One of the things you can do here is you can say, oh, those are for whims. Like the real things are the things of the firefighters wear, right? And you go and you make these the things that could be potentially, you know, the hardest of the hardcore crossfitters and competitive exercises are buying these things, which is totally different. So I think that's a direct consumer market they could totally go to. And there's a great way to do that. Guess what?

There's a bunch of stupid niche podcasts that I happen to listen to for crossfits. stuff. So I think you can reach those people really well. And looking at like what I guess their CPM rates are, they're not very high. Yeah. I mean, this is the type of thing you've got to get some hardcore crossfit dude to be like, you know why? I'm super hardcore because I use the firefighter one, not the regular Bain one, right? Like this one, I used the Bain one before that made me look like a movie villain. This one, though, is way harder. And look at all my abs. you know the shocking thing still is like you compare a very popular crossfitter and what their earnings are to like the number 300 best paid golfer in the world and like the guy barely on the pga tour is making more money by himself than all the professional crossfitters put together like they just have not figured out how to make money for these guys um one of the guys who was like the michael jordan of crossfit this guy matt fraser he basically quit because he's like, I can make more money selling courses about how to be fit via YouTube

videos than I can being a professional crossfitter and not damage my health for the next two decades. Like, so you could actually go get some of these people as sponsors, like super duper cheap. Like so the top 10 crossfitters have big audiences. So million plus. Yeah, very cool. I love this one. This is great.

It's not huge. Like, you're definitely buying a job. But this actually looks like something that's good scale. Yep, good one. Well, it was a nutty one, but I think it was good. All right. That'll do it for another episode of Acquisition Anonymous. I'm Bill Alessandra. I was here with Michael Gertley. Hope you guys enjoyed the deals, and we will see you next week.