Acquisitions Anonymous - #1 for business buying, selling and operating - Best of Acquisitions Anonymous - The $250K Port-A-Potty Business?!

Episode Date: December 30, 2025

In this episode, the hosts dig into a port-a-potty rental company with $4.1M in revenue and a $2M price tag, revealing a capital-heavy, route-based business that's either a blue-collar dream or an operational nightmare.Welcome to Acquisitions Anonymous – the #1 podcast for small business M&A. Every week, we break down businesses for sale and talk about buying, operating, and growing them.💰 Sponsored by:Capital Pad – A platform connecting accredited investors with vetted small business acquisition deals. Discover exclusive opportunities at https://capitalpad.comAcquisition Lab – Your fast-track to business ownership. Get hands-on support, world-class resources, and join a top-tier community of acquisition entrepreneurs. Schedule your free consultation at https://www.acquisitionlab.com and mention Acquisitions Anonymous!In this gritty episode, the team breaks down a portable toilet rental business based in the southeastern U.S., generating $4.1M in revenue with $1.5M in EBITDA and listed for $2M—less than 1.5x earnings. The business includes over 1,000 units, 5 trucks, and a property with a discharge pond and mobile home.Key Highlights:- Asking Price: $2M; Revenue: $4.1M; EBITDA: $1.5M- Includes 1,000+ toilets, 5 trucks, real estate with discharge pond- 60% revenue from recurring construction jobs; 40% from events- High capex, driver and routing challenges, regulatory scrutiny- Seller likely fatigued; business could scale with better ops and techSubscribe 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]

Welcome back to Acquisitions Anonymous. To close out the year, we're highlighting some of the best episodes we've ever recorded. These are the ones that sparked the most conversation and brought in waves of new listeners. So for December and some of early January, we're rolling out our best of series, a collection of the breakdowns, hot takes, and unforgettable deals that shape the channel. Whether rewatching or catching it for the first time, this episode is a fan favorite. Let's jump right in. My first guess is they don't have tax returns.

Question for me, if I buy this deal, should I expect that I have to be the person driving the poop truck? If I have horses, I'm used to poop anyway. Hello, another episode of Acquisition Anonymous. We don't have 100% here. Hey, Michael here. Welcome to Acquisitions Anonymous. Internet's number one podcast about buying, selling, and investing in small businesses. Today, we had the whole crew here, all four of us, and we dug into a deal that it's a listener request, people asking if we would do a Porta John business.

Port-a-Body business, and we found one, and it's here in Santone. So join in and listen in and see what we thought about it. Here we go. Hey, everyone, it's Bill. And I want to tell you about maybe the most exciting sponsor we've had in a long time on the pod. It's called CapitalPad. And it is the thing that I wish existed when I started my journey of operating and investing in small businesses. So CapitalPad is a marketplace for acquisition entrepreneurs that is people who want to buy a business and need capital to list their deals and solicit capital from other people who want to invest in acquisition deals. So if you want to back somebody buying a small business, CapitalPad is a place to do it. And if you want to buy a business and need capital, you can go on CapitalPad

to be introduced to investors. So the really great thing, too, from the investor side is that Capital Pad takes care of all of the details that can get hairy with small business acquisitions. They handle standardized terms, standardized governance, standardized distributions all up front in black and white. Basically, CapitalPad professionalizes investing in small businesses. And the returns can be really, really good. I'm so stoked that they exist. It's founded by my friend Travis, who is a phenomenal entrepreneur in his own right. So if this sounds like something that is appealing to you, if you want to buy a small business and need capital,

or if you want to invest in small businesses, go check out Capitalpad. and tell them that Acquisitions Anonymous sent you. Mills, how are you today? Oh, we're recording. I'm great. I'm great.

How are you? I thought we were looking for a business. I did. I found one. I found one. I click record. Perfect. I was getting on websites to look for businesses.

And then you're like, Mills, how are you doing? Like, oh gosh, we're on. Hey, Heather. Good morning.

Michael just pulled a Michael and hit record without being known. Okay. Yeah, this is we got to start. We're going to start on time. Yeah, well, so listeners on social media have requested that we do a porta-potty and or septic business. So it sounded like the opposite of a poopy idea, so I thought we'd do it. Of course it's in San Antonio. Oh, it's in San Antonio.

Okay. There's so many shitty things about this business. That's one of them. So let's get the dad jokes out of the way, and then we can talk about this. deal. So how's it be doing? Heather, are you surviving the blizzard and tsunamis there in California? I did survive the tsunami. I am trying right now to survive year-end closings. You know, that is the war that I am currently in. And it's, it's almost over. But it's, you know, it gets a little rough at this point in the year, close to close to the end of the year where everyone's still trying to close.

and banks are moving. Their communication gets pretty poor at the end. You know, you hear sporadically, you know, and everyone's kind of left in the dark most of the time. So it's rough emotionally on our clients. Do you guys want to hear my nightmare New Year's Eve closing story? Heather was not involved in this, I should say. I didn't do it.

This was before I knew Heather. Otherwise I would have used Heather. But so me and a couple people were buying an e-com business. This would have been in like 2021. And we were buying it from a seller. It was not a brokered process. It was someone we knew. And the seller really wanted to close by the end of the year because she was worried the tax regime was going to change the following year. This was like right before the build back better thing, which ended up getting vetoed, but it was going to increase the capital gains rate. So she's really hot on closing by the end of the year.

We started work on this deal in September. Like we were way ahead. But we had about 15 investors in it. There were kind of three main guys doing it and that we had a whole bunch of small checks. All of the small checks were below 20% ownership. So nobody was going to have to personally guarantee. We had been super upfront with our lender the whole time that they're investors in this. Like we had even given them the cap table and they knew everybody.

They actually made everybody verify funds. Like they had they had interacted with these people. Okay. Like they knew that there were 15 people. It is Christmas. It is the 23rd of December. I am at my in-laws house in Pennsylvania, in rural Pennsylvania. Like this deal is supposed to be done.

We get an email from the lender saying our compliance department has vetoed this deal. our our our lawyer bank council has decided and this direct quote this looks like a private equity deal this looks like a private equity deal so it's not in compliance with the fb a spda or sba and we said explain because i don't agree with that it's made up and they basically said oh in long story short a bank lawyer had not looked at it until a week before closing and had not looked at it and suddenly had all these problems with it. We had to call, we had Christmas, we have to call seller on like the 26, tell her what's going on. The other thing is happening in parallel is the guy who's going to be the CEO lives in Las Vegas, the businesses in North Carolina.

He has already left. He is driving cross country to arrive on New Year's for closing and meet all the employees the following day. And so he's in Texas and he's like, should I keep driving? And we're like, okay, like, I think we're getting encouraging noises from bank council. Like, you can drive for one more day. And so he's, oh, hold on. Hold on. I have a joke.

The answer is if you're, if you're driving through Texas and you call someone and ask, should I keep driving? The answer is always yes. Yes. Yeah. So anyway, we eventually are able to strong arm bank counsel to agree to it. They have to send a notary to my in-laws house on New Year's Eve. It's two feet of snow.

And I'm at my in-laws kitchen table and they're looking at me like, what is wrong with you? Like I've spent the whole Christmas week like in my father-in-law's office trying to close this deal, like yelling at lawyers, freaking out. We finally do get it to close and it's notarized on my in-law's kitchen table on New Year's Eve. And we did get it closed. The guy arrived in North Carolina on the closing day and we got it done. but I will never use that bank again. Their counsel did not look at it until a week before closing. Can I tell you a secret that all the banks share several different firms for SBA closing

counsel. There's really only so many firms that do it. So they're all kind of rotating between those same firms. They are all on fixed cost. They are not on hourly. And that is the reason why in SBA loans, you don't find out all these things until the last minute because they all don't look at the deal until the last minute. And there's another secret. A lot of them take on too many deals at your end, especially, and they can't get to all of them.

And instead of saying, I can't get to it, they make up fake problems that they then later accept. Maybe that's what happened to me. It happens all the time. It happens all the time. It was a fake problem. Because if you get through it, like you didn't really change anything and then they accept it later, that's a like, that's my, hint that they made it up to buy time because they were too busy with too many deals. And I see it all the time. His mind is blowed right now. Yeah, Mills, you remember that?

Was I talking to you about that deal as it was happening? I remember it too because then it came back around. We looked at a deal probably in the first 100 or 200 episodes that was like a mobile notary service. And you were like, I've used one of these in rural Pennsylvania. They exist. You're still having trauma. It's PTSD.

It was horrible. That was, deals ruin Christmas. The way deals, lawyers ruin Christmas. Remember that. You can. Yes. So, Heather, if we, if we try and buy this profitable and established porta potty and septic cleaning business starting December 6, is there any chance that we could close

by end of year? No. That is. No, no and no. What's the deadline that you typically tell people? Oh, go ahead. Oh, I tell people they should plan for. 90 days from signed LOI and that it's very easy for a deal to go 120 and that they're not really

in control. No one party is in control of the timing and that's part of the problem. So if it's if it's past September, don't don't get your hopes up. Pretty much right. That's right. It's always rough at your end. In light of the year in being kind of a poopy time of the year, let me show you this deal. Yeah. Here we go. By the way, Lister's asked for. this so we're doing it so all right uh man we found one in san antonio this amazing i know i didn't

know there were businesses in san antonio we just got electricity mills high quantity of bullshit us too south carolina will look forward to that in the future yes okay so it's off bisby sell and is a profitable and established porta potty in septic cleaning business located in san antonio texas and then how do you guys pronounce these words here bexar county right bexar I was I already remember what I was told before bear yeah it's bear county I got it's a so it should be pronounced a southerners bill it comes from the Spanish Bayhar but then all the gringos have totally ruined it and it's just called bear County so there you go all right uh that's and that's my seat atatorio story for you today all right so the picture here on the listing is a line of generic yellow porta potty's

a warehouse. Beautiful. Yeah, that is what it is. So the asking price is $250,000 has N-A for cash flow. Gross revenue is $253,000. And inventory is $172,000. And they've been around since 2010. They do not have EBITA or furniture fixtures and equipment listed.

So I assume here, Bill, inventory they were for-ing- I think they got $172,000, $725 of porta-potties. I wonder if that's the depreciation. value because I can't think of many things that probably depreciate faster than a port-a-potty. How much do it cost? Do we know? How much does it cost to buy it like a new port-a-potty? No idea.

I'm not buying a used one. That's for sure. I mean, it got to be like, yeah. I wonder if they're, I wonder who makes those. That'd be really interesting to dig into that industry. There's probably only a few. Yeah. I've heard it's a shitty business.

Okay. So business description. This is a huge growth opportunity. Pro asset advisors is proud to, present this port-a-potty and septic cleaning service for sale. It has been in business for 10 years and is owned by a father and son and are a lifetime residents of Addis-Cosa County, Texas. So Atis-Cosa County is the county immediately south of San Antonio.

It's kind of a rural area. There's little towns like Potete and Jordanton and Pleasanton down there. So pretty rural. They are family-owned and operated small business that rent portable toilets, hand-washed stations, holding tanks, and provide septic tank plumbing. The business is located, oh, here you go, 25-mine. south of San Antonio. They provide will they provide will provide service to Addiscosa Wilson and Mullin counties and occasionally other counties as well.

These are these are super rural counties outside of San Antonio. On a weekly basis, they service anywhere from 100 to 150 portable toilets to their regular contracted customers. In addition, they also have special event toilets that they rent out for weddings, parties, FFA, 4H, school, sporting, and many other events. They typically service 15 to 20 septic tanks per month. The company has always strived to provide excellent service to their customers to learn more about this business, go to pro-assetadvisors.com slash NDA to complete the required NDA. Competition, the business is always in high demand. Inventory is included in asking price.

They have very little competition. Expansion and growth are phenomenal for this business to its geographical location. Their sellers are willing to operate and negotiated period of time for introductions to all customers and they want to focus on other business interests. And it is listed by Brad Ellison from Pro Asset Advisors. I wonder if he's here in San Antonio. I don't know. My first guess is, oh, sorry, go ahead. Yeah, yeah. My first guess is they don't have tax returns.

You've seen this one before, Heather, huh? That's awesome. That's why it's all in A. Well, thanks everybody for being here for this week's episode. I can tell the mood I'm in. swipe gone Heather has run out of F's to give at this point in the year and she's just like yeah it's true it's true I'm sorry okay so porta potty's and septic fangs yeah go ahead bill I think so the the crux of this and I wish we had a real expert on instead of us jokers but I'm 99% sure it's the same piece of equipment the pumping truck that is used to go you know drain and and then refill port-a-johns on site that you're using for a septic tank, you know, in somebody's backyard. That's the common kind of asset between those two.

Port-a-jones cost like, they cost like $850 to get a new port-a-john. But the problem is having a port-a-john doesn't help you at all. We spend thousands and thousands of dollars a month on port-a-jones. Having a port-a-john in and of itself, the unit economics are amazing from a rental standpoint, because the Port-A-Done does no good unless you can clean it out properly. And the equipment to clean these things out is very variable. I don't know if you know off the top of your head. What do you pay per week?

I got it pulled up right here. I was doing this as we were reading it. Construction, toilet, rental. I think this is, I don't know if this is per week or per month. We have two on this job. We're paying $23 per toilet for $4.4.4. $46. Then there's also a fuel surcharge of 14%. And then you pay, we're paying $56 per toilet twice a month for the service. So the equipment rental is just, we're putting it

on your site, but then it has to get cleaned out every two weeks. Each one of them does. And so call it, what does that end up being about $100, $125 a month? You said it's $23 a week for a toilet for two weeks. I think that's $50 a month for the toilet. to sit there. Yep. Just to sit there. And they cost about 800 bucks. So you got all your capital back in under 18 months on a Port-a-John, which is not too bad as a rate of return.

Although they get used hard, I would imagine. I don't know what the lifespan of a Port-a-john is. Are you ready to take a leap into business ownership, but you don't know where to start? Well, look no further than Acquisition Lab, the premier resource for entrepreneurs seeking to buy their dream business. founded by Harvard MBA and acquisition expert Walker Dybul, The Lab is your fast-tracked success in the search diligence and acquisition process. With hands-on support, world-class resources, and a community of like-minded entrepreneurs, Acquisition Lab gives you the tools and confidence to navigate every step of the journey.

And we're proud to call Walker and Chelsea, the Lab's director, longtime friends of the podcast. They're passionate about helping entrepreneurs like you take the next big step. So don't wait to make your business ownership dream of reality. Visit AcquisitionLab.com today to learn more and see. schedule your free consultation. And when you do, be sure to tell them the Acquisitions Anonymous podcast sent you. There is one of one of my like pet projects that I really, really want to do from a social media standpoint is, um, memes from port-a-johns because the port-a-john humor is amazing.

It is so funny on these job sites, the drawings and the jokes that get written, um, on them. My favorite one, and this will be my only tangent on this, is that there's a plastic lock that just toggles up and down. It's very low, like low mechanics. But I was in a port-a-john once, and the lock, basically when it's locked, it says pooping alone. And then when it's unlocked, it says pooping with friends. But the things that you can find in port-john do incredible. So it rents for 50 bucks a month. And then you said Mills, it's like $60 every time it gets service.

Service is, yeah. So call it like another hundred bucks probably. And then there's a fuel surcharge of 14% of the bill, which ends up being like $65 just because they. And they're servicing a couple of Johns per visit. Right. So like if you've got, you happen to have two on this job site, but bigger job sites have more. So like the truck comes out once. So there's basically like a route component of this, right?

Where it's picking up a couple johns on your site, it's going another site. until the truck is full and then they empty it. Yep. Yep, exactly. And the interesting thing about this business that I really like from a business development, like they mention it even in their transition is we'll stick around long enough to introduce you to the customers. But these customer relationships, there's no contractual revenue.

There's no like, you know, but it's very reoccurring because I'll tell you, like at Aquasiel, the guy who calls these in, if you get on his back, list because you didn't call out a tool you didn't come get that toilet when we were done with it quickly enough or you didn't get one out there when we were starting the job or you weren't servicing it regularly enough and it started to like overflow he'll never call you again but if you're on that guy's good list he's not shopping around for price he's just like I'm calling my guy at xyz I need two out there it's probably going to be about a month and then he never thinks about it like so many things it's served up right because like it's the portage on like you don't want to think about it

As soon as I have to think about it, I'm mad. I'm willing to pay the don't think about it price. Reporter Johnson. Thank. I pulled up to the thesis that this is like a dad and a son and a truck business. I pulled up like some of the photos of what the trucks actually look like. I have never slowed down to actually study them. It seems like there's three types of trucks.

You can get a truck that is like a combo of the tank where you suck out the, the effluent and put it in the tank for the kind of emptying of the port of Johns. And then it also has the ability to basically move the port of Johns with a lift on the back. So you can put four or six portojons on the back of the pickup truck. And then there are trucks that are just solely the pump trucks that are just doing the emptying of the poop. And then they're the ones that just solely do the delivery and pickup of the items of the porta.

these. The nice thing about them is like when they're empty, these things are light. They're incredibly like one person can push them around and move them. So it's not a, it's not like you don't have to have a specialized piece of equipment to load and unload them. These look like they might have a lift gate on them, these trucks. Some do, this one does here, this all on one from Portal Logic, which has a patented combo truck, which is this kind of, you see the picture here that's, Either a pump truck. It's both pump truck and the delivery truck.

And one important distinction that they call out, you don't have to have a CDL to drive these. So it makes from a staffing standpoint, it's a little bit easier to find somebody who can operate this. And I think so I did the map. I'm scared about with this deal. I mean, obviously this is a small business for a reason, as our friend Brent Besor says. But like the labor pool in Adiskoza, Wilson. McMullen counties. Like, I think the biggest town is 10,000 people in those counties. Like, they are small. So trying to hire somebody who wants to do this job in today's labor market,

like, not going to be easy. They say they service 100 to 150 toilets. And I did the math on the 172,000 of inventory. If that's $900 a unit, let's just if that was the cost, that would be 191 port-a-potties. So it sounds like they have about 200, I'm going to guess. So you're basically, to me, you're buying kind of a customer list, a territory, if you will, a truck and 200 port-a-potties of varying ages that you may have to replace. I don't know what the replacement cycle is on port-a-potties. As we said, it probably depreciates pretty quickly and you don't have them to use maybe too long. And I think this is probably one, maybe two trucks max, if I had to guess.

I don't think that it's much bigger than that. To do 100 to 150 toilets a week, you know, I like this. I mean, if you live in this area, there's never going to be a construction site without port of Johns. I can't imagine in 20 or 30 years still. Like every job site is going to have. And what's interesting is like when we go to a job site, we have our own port of Johns. but there's also a general contractor who has their own port of johns and there's other subcontractors who have their own wait

because you guys are too good to poop in the gc's porter johns and he's too good to poop in the architect's porter johns no it's more like if there's if there's you know 50 to 60 people on a job site there's not enough to go around and a lot of times depending on the job we might put it on wait wait what they make they make these cages that go around them that you can lift them with with like a forklift or a telehandler or a boom crane that we have and we'll set them up on the roof. I have learned something new today. Did you guys ever watch Scrubs, the TV show? This reminds me of scrubs where they have the toilet on the roof of the hospital and they go up there to poop and it overlooks the whole city and they like relax pooping on the roof. They love it up there.

Oh, my gosh. So question for me, if I buy this deal, should I expect that I have to be the person driving my first question I think the current owners are operating yeah it's owned by father son which means yeah that have been lifetime residents of this area you could drive the poop truck this would be easy this is buyer business fit and you poop I assume right this is perfect once every couple weeks But do you do you have to I mean do you have to operate this business? That's a fundamental question, right? Or there's probably not a $250,000 of revenue. There may not be enough marginal cash flow to, you know, have somebody operating the business. It's an owner at this size.

We're making that assumption. I mean, down down in this end of the, this end of the county and stuff, right? Like out here in these rural places, there's not a big labor pool. You're competing with the oil field. So Eco Ford is south of there, which is not as boomy as it once was. But like there's still a lot of oil field jobs down that way. And you're competing with people commuting into San Antonio for work. But like my guess is you're going to have to pay up for some.

I mean, this is not a job that people are like, you know what I want to do, smell poop all day. You know, you're for a non-CDL driver, you're probably paying 70 to 80K a year at least in San Antonio to do this job to get a person. So yeah, so I don't know if the math still works there. I think what this is illustrating is I actually really like this category. I mean, I like a porta potty business. Like it's a it's an asset rental business with a service component, which generally is better than just a pure asset rental business because the pure asset rental businesses is basically a financing business. And the big guys have cheaper financing than you. And it's so it's hard to

compete on price. But something with service, it's, it kind of makes it more of a real business rather than just a financing business. So I like this. But the problem is it's too small, right? So you have to drive the poop truck. If this has $2 million in EBITDA, I love it. Right. The other thing that's interesting about these is they typically get paired with my other favorite white whale business, the dumpster rental business, right?

And other site services, right? Because you're already going to the job site frequently to empty a thing, right? Be it construction debris or poop. And you can service all your same stuff in the same visit. Assume you have the right kind of trucks. Well, different pieces of equipment for roll-offs. But it's the same sales process. So it's the same customer.

And you can kind of make, for us, we make one phone call and we get a 30-yard roll-off dumpster and two port-a-johns. And then we make one call to get them off the job site. But the roll off truck is different. Good points. So what I mean? And there are times where our provider, some of our providers will say, I'm willing to take you a container out to this remote job site,

but I'm not willing to take Porta Johns because the math doesn't work for me to service. Interesting. And you got to find somebody else close. And Mills, to your point, like you're going to keep calling that same guy until he screws up, right? If he raises the price on you 25%, you probably don't care because you're billing it through. to the GC, right? But you're going to keep calling that guy until he doesn't show up with the John. So I think that's basically what you're buying here.

You're buying into the reputation of not screwing up. It is also your biggest risk because when is this business most likely to screw up when new guy who's never done it before in the first three months of his ownership, right? So I would be really focused on transition and execution in the first year of buying a business. this because you can destroy functionally all of your enterprise value by screwing up. If you have one bad week, like your script. And there's probably, you know, the thing we haven't talked about in this area, probably some significant customer concentration.

I mean, I don't think there's, you know, a hundred or 200 different customers, maybe total. But I think if you, if you stacked it, you know, and looked at them proportionally, there's probably some, some power customers in there. And to your point, you answer the phone slightly different. you know, 30 days in or they expect you to invoice a certain way and you didn't get that memo, you know, in the transition process, all of a sudden you make somebody mad and there goes, you know, 15% of your business. Yeah.

I think the other red flag here is this industry has been rolled up and has big giants in it already. And there's a reason why they're not like either wanting to buy this or targeting this corner of the market. I think this is just for this rural kind of nowhereville end of Texas. is that I live near. It's just a tough business to run. And I think there's a reason. There's a reason why it hasn't been rolled up already.

This is probably all the demand there is for Port-a-Potties in this area, and it's not worth owning if you're a strategic. Right. That's my guess. So they leave it alone. But, man, like, if you found something somehow, this business with one or two million of EBITDA, I would buy, I would fall all over myself to buy it because you know you could, you could sell it in six months to one of the roll-up guys, right?

you just happened to have beat them to it. Yep. Yep. Or if the area, if the area you're in suddenly has a development boom, and they're going to need a lot more port-a-potty's to support that great, then you've got a growth trajectory. But I agree.

I think this is probably serving all the need that there is in that area at the moment. When I think a sign bill, we're like on episode 360, how many porta-party rental businesses have we run across and done on the podcast? This is the first one. Like that there's a sign that they're good businesses when they're inside. The thing on this, to the side of them being not great businesses, they can be very cyclical because they are very tied to construction.

Right. So like construction is a cyclical business. So like now interest rates have been low like great construction. If you buy this thing and we go into a construction recession, even if you don't go into economic recession, but you're going to construction slowdown, you're going to hurt. And you've probably bought it with debt, which is scary. So like this, remember, this is buying a cyclical business with debt. It is.

And I've seen one before that was tied to oil production. So the porta pot is really served, you know, another part of Texas. And that is also cyclical, very cyclical. And so, you know, yeah, there's a lot of tie to cyclicality in portopause. Which would advocate for using less debt. Like this can be a great business. Just got to use less debt. You can definitely use, Heather, I'd be curious.

You can use some debt here because they're hard assets, right? Or they looked at as consumable and they don't really can't. Yeah, these are not something a bank wants to liquidate. I mean, from a lot of perspectives, of course. Hey-oh. There is a lot of liquidating going on in the business. Yes. I'm going to tell that.

I'm going to say that to my life. I would be like, I'll be right back. I need to go liquidates. There you go. All right. Let's put a bow on this one. Let's go around the horn. So Mills,

thumbs up, thumbs down. Oh, two thumbs up. Two thumbs up. You're putting an offer it on this? Two thumbs up is I'm flying down to San Antonio. Okay. So one and a half. Yeah, that would be nice.

One of these days. If this was as close to Columbia, South Carolina as this is to San Antonio for you, Like I would totally look at it. It's not really a tuck in for us, but it would, we look at like the income statement and say we're spending X amount of dollars on this. Would it be worth insourcing it? I want to give it lots of thumbs up. The problem is the size and the rawness of it.

I love the business model. Love it. This one's too small and too rural. And which means the growth is capped. It's too rural. Yeah. Yep. Heather.

If I can go have a horse farm and this is just my lifestyle, this is just the way I pay for it. Yes, I'm thumbs up and no debt. Just going to pay all cash and live on my horse farm. I picture Heather hobnaving. If I have horses, I'm used to poop anyway. I hope the editors. Heather's hobnaving with all the horse people and it's like, what do you do? I own an oil company.

Oh, what do you do? I drive poop trucks to pay for this. Love it. Smart. Super good. I like it. I'm with Bill. Wish it was bigger.

Cool. All right, everybody. If you would, sign up for our newsletter. We went through, and I was with all the production folks for this podcast,

and they were like, we wish more people on the newsletter. We have about 4,000 people on there, but like we would love to have 40. So we can send, and we send you three deals every week that we run across and give you a little write-up on them. So I think it's a pretty good newsletter.

I read it, so I'm biased. So sign up for the newsletter. at at qanonan.com and we'll see you next week.