Acquisitions Anonymous - #1 for business buying, selling and operating - Buying a Mysterious Retail & Distribution Business in Orlando

Episode Date: May 16, 2025

The team dissects a mysterious $6.3M Florida natural products business that looks great on paper—but raises more questions than answers.Business Listing – https://drive.google.com/file/d/1s0GFGR8yGnsX_xMKqs8WdiDcdf0t8L8T/view?usp=sharingSponsored by Capital Pad and Connor Gross💼 Need capital to buy a business or want to invest in acquisition deals? Visit Capital Pad: https://www.capitalpad.com🔥 Ready to explore franchise ownership? Join Connor Gross' newsletter at: https://www.connorgroce.comIn this episode, Michael, Mills, Heather, and special guest Chelsea from Acquisition Lab unpack a listener-submitted listing: a $6.3 million natural products distribution and retail business in Orlando, Florida. The team grapples with the vagueness of the deal memo—no clear product category, a suspiciously low inventory number, and a business claiming $1.4M+ in steady earnings while only requiring 10 hours a week from the owner. Is it a hidden gem, or is something being left out? Along the way, they explore gender dynamics in M&A, software carve-outs, and what makes a quality broker.Key Highlights:- Discussion on gender differences in business acquisition readiness and confidence- Analysis of a Florida-based business with ~$10M revenue and $1.4M in discretionary earnings- Pros and cons of vague listings—and what might be hiding behind them- What “SBA financing available” actually means in context- Potential for software carve-out and SaaS value in traditional businesses- Jackie Hirsch praised as a high-integrity brokerSubscribe 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]

We don't know the dispersion of their revenue across the kind of wholesale distribution retail chains. I like the stability, right? Like, it's highly desirable. It's in an earnings level that so many people are targeting. I don't know if I would be selling. I was only working 10 hours a week and I could make that kind of money. There's something that just doesn't match with all of this. So that acquisitions.

We don't have 100% people. Acquisitions anonymous. Internet's number one podcast about buying selling and invest. in small businesses today, me, your host, Michael Gurdley, and my fellow co-hosts, who we had a special guest, Chelsea with today from Acquisition Lab, and Heather Anderson, podcast co-host, and Mills Snell, who is fresh off of a disaster at his business. We all got together and talked about a deal that was actually a listener submitted. And remember, if you have a deal, you want us to cover on the podcast, you can send it to any one of us, and we will cover it. But today's deal was in

Florida, because all the crazy, interesting deals are in Florida. That's just the way it works. we dug in and then we didn't all hate it. Actually, most of us liked it. I was the one hated it. So listen up and see how we got there. Thanks for being here. 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 Capital Pad. 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 CapitalPad 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 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.com and tell them that Acquisitions Anonymous sent you. It's 3.30, so I click record, Chelsea.

You told me last time I fully came in prepared. Just rolling in hot. We have one rule at the Acquisitions Anonymous podcast. If I'm here, we're starting pretty close to on time, usually on time. There's no other rules. Well, I was just catching up on Days of Our Lives, aka Mills's office. But yeah, that's the thing they don't teach you about running a small business. You think you've left high school.

You think you've left babysitting. But it's just babysitting with bigger people. Walker talks about that all the time, actually. Oh, I love this broker. Jackie. She sent us this deal. Thanks, Jackie. Thanks, Jackie.

Jackie Asson Hirsch, who is, just a lovely person on Twitter. She's really nice. She did not make a short conference. She's also lovely, by the way, in person, not just on Twitter. Arguably better in person than on Twitter. Indeed. I mean, I like both versions of her, but, you know, she's adorable. So I'll take the live one any day. So one thing I talk about with Heather a lot is in the business buying space. It is a male dominated space for sure. Really? So she and I talked about it. What's that? Sorry. I hadn't noticed. Oh, well, I think there's some ladies that I think like being in male-dominated cultures

because you only have to worry about like one type of personality and approach to stuff. Like it's just like it's easier because like it's narrowed down. There's more of a mono kind of a mono kind of thought approach to stuff. So anyway, I don't know if you have any commentary on that. Are you welcome to say next topic, please, Gurdley? No, I love talking about gender dynamics. in M&A any day. I love all my female buyers.

That's all I'll say. I love to see people apply to the lab that are female. Yes, it's a lot of dudes. How do female buyers tend to approach things differently than your typical male buyer? In my opinion, and it resonates from what I used to do career coaching too, is like, a female buyer never think she's ready. She could have run somebody else's company for 25 years, and she still is like, well, I don't know.

It wasn't exactly the size. It was like my male buyers, I'll get a new graph. with his bachelor's, never worked a day in his life. He's like, I'm going to buy a $50 million company tomorrow. So I think that's the biggest difference. And so I get really excited because the female applicants that I do get are typically extremely qualified. And I get really excited to kind of see their success. I think, Mills, I think she just said we're totally unqualified for our jobs.

You are. And I think that I actually told my last call that. I was like, I got to get on this call with this horribly unqualified people that are going to start play before I even dial in. going to suck. Well, I like having Chelsea here. This is funny. Yeah, I knew this was coming. Heather, we were talking about, I know you just, you just jumped on.

We were talking about gender dynamics when it comes, because we were talking about Jackie who sent us this listing. We were talking about gender dynamics between male and female buyers. Interesting topic. Yeah. And I think a lot of what you're talking about, Chelsea, where, you know, and this is stereotypical, but a lot of times women don't think they're ready for stuff or are apologetic about their qualifications, like that happens in job applications and everything, right?

Where it's just like there's something we men have screwed up in our society that causes are going to do that. I don't know. I think it's honestly not your fault. It's how we're socialized, right? But I would get these female applicants that have run global divisions, run companies. And it's like, yeah, I would love for more females to own companies. I think that they're highly qualified and expectations.

especially those of us that come out of corporate America and are somewhat limited. And, you know, being in like a male dominion space or even just a traditional workforce, right, where men are promoted over qualified females. It gives us an opportunity to take control over our, you know, what we're capable of and to give opportunities to others by building a culture that promotes everyone. I don't want to sound too diverse, supportive here on this podcast. But you know what I mean? I support everyone, regardless of anything. I think that's okay.

Chelsea said everyone should buy a business. There should be no employees left. It's just all business owners. No employees. Which is so funny because so I'm doing office hours tomorrow because I do think that everyone is being told like everyone go buy businesses. And somehow working in corporate has become like the enemy of good. It's like corporate America is beautiful. Like there are some people.

Y'all should be workers in small businesses and large companies. Like there's no risk, like, or there's no shame, right? And just working for someone else. It's not as glamorous as everyone's making it out to be. And I like what I came on. Michael was giving Mills a hard time about the dynamics, right? The human capital dynamics, we'll say, in a nice way of owning a small business. And it's not as glamorous as everybody's making it sound, right?

There's still challenges and hurdles. And some people should just stay in corporate America. Some people should own businesses. I support both paths. Sometimes you catch roofs on fire, which happens. On that note, let me pitch you on this deal that we actually have to. Let's talk about a business that isn't, yeah, that isn't roofing related. Yeah, roofing related.

And because it's Ladies' Day here on the podcast, presented to us by a lady female broker, Jackie Hirsch from Twitter. So pretty awesome. Heather, have you run across her? Oh, yeah. I met Jackie in person. I've known her for a long time. I closed a deal with her way back when I was at Live Oak. And I met her at S.M. Bash a few weeks ago.

So it was great to meet her in person, finally. She's amazing. I met her last May, actually. Let me pitch you guys on this deal. And then Jackie said she wants us to be extra mean. No, I'm just kidding. All right. Can't wait. Okay.

So it is a natural products retail and distribution company in Orlando, Florida. So kind of one strike against it. ready. Purchase price $6.3 million. It's a wholesaler distributor and retailer of natural products and accessories located in central Florida. They have been in business for decades, and it is a force in central Florida. They have a full management team in place to oversee staff and continue the trajectory of growth. The seller works 10 hours per week, and this business can be taken to the next level. Accounting is done professionally, and all computer software and business systems have created a platform, which can be expanded even further locally as well as nationally.

They have exceptional records and have been pre-qualified by a lender. I pause at these moments, Chelsea, just to see what Heather's face looks like. It's kind of where my wife just go. I will have to talk about this SBA pre-qualified thing. Heather gives the same look. Mills is kind of like when my wife catches me finishing off an entire gallon of ice cream on a Friday night. You're like mid-byte.

You're like, it's just like. Yeah. Yeah, that's Heather's look when we get the pre-qualified. All right. Nearin, 2024 are completed. Full management team is in place. Must speak with potential buyers and have bio and financial statement with NDA on file before receiving the SIM. I love that.

I love that. Very qualified. So established in 1999, they have a full team in place, owner-Williard Transition, located in Orlando, Florida, includes $275,000 of inventory, and the SBA financing is available. So data-wise, they have... basically the P&L, tax return, tax return, and save it. Okay, so they give us three years of financials here. Gross revenue is pretty steady around $10.5 million. Cogs is $4 million, $4.5, $4.7 million on average. They are spending $5.9 million a year plus or minus on expenses. So that means the discretionary earnings from this business is $1.4 million, $1.5 million on average per year for the last

three years and the purchase price is $6.3 million. So they're charging, what is that? That's four and a half times. Is that right, Mills? Bill GPT is not here today. So I can't ask him. He usually does the math. It's about four and a half times discretionary earnings for purchase price of $6.3 million. So Mills, do you know what these guys do? And when you say you don't, I'm going to ask Chelsea. I don't. Natural products, they're a wholesaler. distributor and retailer. So they're not manufacturing any natural products, but it's natural products and accessories.

Do you think that there's a chance that this is like a CBD product and they're just not saying it? Is that natural? The sun, the picture on this teaser is just this amazing pink sunset in Florida. Like a hallucination is what you're saying? Yeah, yeah.

So maybe, yeah. Maybe it's like, you know, psychedelic. I don't know. I mean, this could be, this could be. Although for the record, that would not be eligible for SBA finance. That's true. No, it's not. That's true.

So I feel like that that's a clue. Good, good. Thank you. So it could be like what Bill calls lotions and potions, right? This could be a skincare product. It could be a hair care product. It could be, you know, I don't know, there's a full range of what natural products could be. Maybe it's like, okay, so I.

ironically I grew up in central Florida outside of Orlando living on a lake that would fall out like this. Does your family own an actual products retailer that has about 10 million in revenue? No, but I feel like I know the company because it was a distributor and a retailer. Now the wholesaler thing, I could see how it would work, but in my mind, I guess I'm trying to figure out, is this an actual product company? Because the way they're pitching it, there's a million things going on. this listing. Jackie, I love you. And so I think that it's a product company, but maybe they actually,

it's just a license. They carry a license for a specific product because I doubt they're actually, like you said, not manufacturing it. So I wonder if there's IP involved. Like most lotions and potions companies don't make and mix their own stuff. They contract manufacturer with somebody who has a certified facility and, you know, has all the testing and the clearances and the compliance to mix up raw ingredients and put them in small packages, small bottles and containers. So if the inputs are domestic or imported kind of matters right now, right? Correct. Yeah.

So, but since we can't, we're not sure what they are. I don't know. I always think of something in Florida as being something, well, that might be a hub for where imports are coming in. And so that, you know, it might be a product that is imported. So I would really want to know that, I guess, first off. It feels like it has, has pretty decent margins. And the headline says retail and distribution. So is it more retail and a little bit of distribution, or is it the other way around? And, you know, that would sort of inform us a little bit on, you know, why the margins are so good. I also am mindful of the fact that they don't mention e-commerce

on this. So it is not a predominantly online business. They have a retail, at least one retail storefront, but we don't know the dispersion of their revenue across the kind of wholesale distribution retail channels. Okay, so this is crazy. And I'm not going to say that this is this business. But my brain keeps going to growing up, there was a retailer, one retailer,

that sold natural products for horses. That would be awesome. I would love this business. And Heather, Heather, sorry. I would love this business. I'm starting to like it.

But it was like they had all of the horse like care products. It was all natural. They had a giant like pole bar. I grew up in like not Orleans like, you know, but they had like a giant pole bar that you would go to to buy like this. And they did wholesale. I don't know about.

the distributor thing, but they did the retail and the wholesale piece. And so is it, I doubt that it's pet related or animal related because that's normally a selling point to like an evergreen market versus a trendy market. And I feel like she would have listed that because that's a selling point. But I'm curious, I guess, to see like, is there IP involved or is this just a pass-through kind of they have like a license agreement or something? I also am curious because the discretionary earnings. The expenses are going up while the revenues going down. The cogs are going down, but I don't feel like it's as representative as the revenue. Like as a, you know, as the revenue, it seems like it's disproportionately changing. And so I'm just curious if like, are they hiring and

scaling because they know they're exiting? And that's why the discretionary earnings, has gone down the last couple of years. And the expenses have gone up. Because it's introduced another 1.3 million in expenses for a very similar level of revenue. And a lot of times you do see that, right? They'll hire, they'll staff up so the business is more transferable. But I'm just curious if it's somehow related to economic things that, you know, are longstanding, like if that's more the pattern to predict versus the past pattern. But I like the stability of it. Like, it's still fairly stable. Hey everybody, if you've listened to the show, you've probably heard us talk about franchises.

While franchises can be a great path to business ownership for the right person, like there's a lot of pitfalls. And it's important to be really careful as there are certainly good franchises to be in and bad franchises that you don't want to be in. Connor gross is a friend of the pod and a resident expert on franchises. And Connor not only owns and operates his portfolio of multiple franchises, but he's also a franchise consultant and helps others work through while picking the right franchise for them. So as he's sponsoring today's episode, everyone should totally click in the show notes below to join Conner's newsletter and attend one of his gateway to franchise ownership workshops. If you're ready to move and move quickly, schedule a call with Connor and his team today. This all kind of comes down to what is the natural product?

I mean, it could be so many things. If it's weed, to your point, Mills, that's like one thing. If it's, you know, horse vitamins, that's another thing. If it's something they're importing from China, that's another thing. if it's made, you know, if they have some sort of exclusive license to it. So from a number of stamp. If she would have told us what it was, it would have been so obvious what this business was. Correct.

Correct. She said it's a force in central Florida. The other thing that I really like here, which a lot, we have a lot of lab members that have pivoted in this space. So we get a lot of, like over half of our members have engineering degrees, which is super funny. Everybody always thinks the BAs, nope, it's an engineering degree for the acquisition lab. But it says they have accounting is done professionally. And all computer software and business systems have created a platform which could be expanded even further locally as well as nationally. So because SaaS is hard in this space because the economics don't really support acquisition entrepreneurs buying profitable SaaS companies,

we'll have software engineers by companies like this where there's a software component that they can then spin out as a separate product. And then they'll exit the brick and mortar and they'll keep the SaaS product. And so I like that this has that pitch almost built built into it to say like, hey, there's this other revenue piece if you know how to do it well. And we have a lot of lab members who do. And so this is the type of business is really attractive to them for that, in that regard. You got like the numbers. Like it's like very metronomic. It's like, hey, how much did you make last year?

Somewhere between 1.4, 1.6 million. Did you do that for the last three years? Yes. Fantastic. Like, you got to like that aspect of it if you're a buyer. here. I like the stability, right? Like, it's highly desirable. It's in a market, it's in a earnings level that so many people are targeting that unfortunately, at least in the lab, and I probably look at 40 deals like in a week's time, which is insane. But very rarely do I see

this level of performance sustained year over year. Yeah. Right? Like way too often, it's a price tag like this. The last one I saw was $7 million and it was one year of $1.4.4.5. And it was one year of $1.4. million earnings. And then the prior year was like 400,000. And the year before that was like 200,000. And so to have this level of stability, I think, is actually really nice. I'm dying to know what the products are. And if there's IP value in it, I like the software kind of extra piece. I like that there's a management team in place. I always like, I love you, Jackie. I don't mean this in any negative way. But I really love it when it's like, owner is willing to transition on listings. Where I'm like, well, yeah. What else do you think they're going to do?

Just working for free? Like, I want one to be like, they are unwilling to talk to you at all. Like, right? Like, yes. And I, for the purpose of education, which is what this podcast is meant to do, is like, the owner transitioning is part of what you're paying for. Like, they can't not do that part. It's not, that's not up for negotiation. The length of time is, but like, yes, they have to be willing to transition or you're not giving them any money. And I'm hoping they're retiring as the reason for selling. I don't think she says here, but they're only working 10 hours a week making a million four. I don't know if I would be selling if I was only working 10 hours a week and I could make that kind of money.

And I tell members not to get too, not to get too hung up on why, right? because like there's a million reasons somebody could be wanting, from a psychology perspective, could be wanting to exit. It's like sometimes you just don't have the mental bandwidth anymore to even think about something, even if it is only 10 hours of your time. But I'm with you. Like if I could work 10 hours of time and make 1.6 million, you're going to pry it out of my dead cold hands. Yeah. So there was a good discussion about this on Twitter. And to push back a little bit on that, There are reasons to sell that are non-monetary in situations like that. And one of them is psychological.

Correct. And I've seen folks and like I'm here, right? Like you, even if you're only working 10 hours a week, Clinton Fiore had a really good point where he said a lot of times you're an owner and you may be only working 10 hours a week, but it's taking 110% of your emotional energy. Correct. And you have this sense of responsibility about what's going on. And I think that's right on the money. right so there's there's reasons to sell where somebody saying i'm only working 10 hours a week and i'm making a metric ton of money there's good reasons for that um my opinion i i know people hate on those sellers but having been one i'm like

it makes sense sometimes so i agree i agree i will say i just jumped out of me when you were reading it out but this little paragraph at the bottom where she's kind of fencing you know the buyer pool must speak with potential buyers and have bio and financial statement with NDA on file before receiving the SIM. I think some brokers, you know, kind of, I don't know, sometimes they miss the point. Like, and they, you know, when I was working in private equity, I would have certain brokers who would want like a copy of my driver's license, you know, and I'm like, I promise it's not relevant. And I'm, you know, I'm not going to abscond, you know, with the business or something. but I like as a buyer I like knowing that the business has not had all of their financial details just widely dispersed to anybody online who could e-sign an NDA.

It gives me some comfort to know that the people who are actually reviewing the confidential information memorandum have been vetted, even if it's just a light vetting, just making sure that they're a real person, they're genuinely interested, that, you know, they have some. means or experience. I think it's a little bit weird when a broker's like, we want to see proof of funds because, you know, if somebody has $6.3 million, they probably don't even want to liquid. They don't want to send you their financial statement. So I think you, I think she's approaching it the right way and it's not tone deaf, but it's also, you know, appropriate for this size business to do some vetting. It's one of my favorite just kind of little tells about how, the broker and maybe even the business owner are approaching the sale process. Yeah, and Jackie was just honestly on X talking about somebody's intern submitting things for an

NDA and she sniffed it out and wouldn't give them, wouldn't give them anything. So she does do a good job of vetting it out, like you said, making sure it's a real person. And that is important. Yeah, for all parties, all the buyers, you know, should feel better about working with a broker that does this right. Well, I think that like one of our biggest struggles in the lab and for our lab members is people want to know high quality brokers that they can work with, right? There's a vast majority. It's a pendulum, right, spectrum of the quality of brokers out there. And Jackie is one of them.

Like when her and I first met, she's like, I don't need your buyers. Like I don't, I have, I vet mine. I don't need more. And that's the kind of broker that you want, right? Because she's being very picky. and so I trust the quality of her listings a thousand times more than I trust, you know, I won't name any, but like other brokerages, right? So I guess there's part of me that wishes she, the only like maybe critique I would have for this as I wish there was a little bit more info about what they did. But I also fully expect that if we signed the NDA and we got the info, there would be some aha moment where you go, oh, of course, you couldn't say, you know, horse related products

or something because you don't want to be too descriptive. And it's our favorite game to Google and see. So maybe this was a test and we passed the test. Yeah, I was going to say she thwarted us. Yeah. I do think it would be nice to know. Like personally, I would like to know like how big are we talking, right? Like I would like some and it doesn't, I don't need to know industry or anything that

would make it identifiable. But I would like to know if there's IP involved. I would like to know if there's some kind of exclusive agreement, if it's a licensing thing. I would just like to know one more value lever about the business because it sounds very I, Jackie has the halo effect with me right now

because I trust her as a human but if this was done by a not not hurt like if I didn't know the broker I would be like what the hell is this? Yeah, because as a buyer, you're looking at tons of things and you go, okay, it's probably going to take me multiple phone calls to get the SIM

and I don't know enough to like hook me. You know, if there were like you said, one more kind of left, one more value lever, that might hook me enough to go, okay, I can't wait to know more about this. At this point, it almost, unless I'm already doing this, it almost seems too generic to spend, you know, the extra time on it. I, for this, because of the pattern, the performance, because of historical performance, I would click because I would just want to know more. But I think, because she's telling us to be brutal, natural products isn't enough for me because I feel like natural products can go one way or another. So I would like to know

one thing to give me an inkling as to the quality of the business we're looking at, like something, just to give me a little bit more. But I understand, you know, maybe why she didn't do it. And I think there's a hint there of saying it's a force that it would maybe be pretty identifiable if she went more specific, but it would be nice to see at least one more value lover. And hey, I'm going to give her credit. She said SBA financing available. So look, that's actually the right way to do it. Not SBA pre-qualified, but available. So, and I do think, I mean, this is a good size company. You know, an SBA loan is not going to be predicated on discretionary earnings. They're going to minus your salary, your replacement salary from that. So let's just say maybe it's a million two.

We go from a million four to a million two. You can afford about three, three and a half turns of SBA leverage based on today's rates. So you can get a four plus million dollar loan on this, but the purchase price is 6.3. So you've got to bridge the gap there with some equity, a fair amount of equity in a deal of this size and possibly a seller note. Well, and I noticed that the inventory was included because I was trying to do the math really fast because it seemed like a high multiple. And I was like, oh, well, inventory is included, but that's not high enough to justify it. And so then my brain was going towards working capital. Like there's got to be something to Heather's point to make this math work.

I will say as a distributor, that seems like a low amount of inventory. I mean, that's kind of the role of distributors more times than not, is they are acting as the kind of clearinghouse of the inventory. So it's not sitting on your books. So I'm dying anymore. I'm thumbs up on this. Jackie, nice work, very curious. And I can't wait for you to tell us on Twitter.

she's like you were all just totally wrong it's none of those things um i i really the thing that i hopefully people will take away especially folks coming out of sass is she did a beautiful job of giving a little nod that this is there's like a there's a diamond potentially buried here for folks that want sass um because they're constantly looking for things that have proprietary software included that can be made into its own product so like to me my sass buyers tend to have more capital to outlay so that this would work for them because they typically are coming down with a much higher down payment. But I do like that she included that. So good job, Jackie. And you should call me because I probably have a buyer. Heather, Michael, thumbs up, thumbs up. I have to approve

Jackie's deals, all of them. So yes, it's a funding. Funding secured from Heather. Full asking price. It's all, it's pre-approved. Look, I'm thumbs up on Jackie because she's really nice to be on the internet. And I think she's really sweet. There's something that just doesn't match with all of this. Like there's my spidey sense is up and I usually just trust that and I would probably just swipe right on this and not look at it. There's just something weird about it. That's the level of it is it the amount of pink. Is it the amount of pink in the teaser? It's very pink. Bro, it's it's ladies day here at Acquisition's anonymous. I know, but I'm asking you, Michael. I'm asking a male. Is that why you don't like you?

No, it's a combination of how much it's being asked for, the asking price. The fact the financials are really good, Jackie's a good broker, and then the size of it, and then how vague she's being in the teaser, and that she sent it to me. So all these things together. There's just, no, it's one of many factors, but there's just something wrong here. So that's what I'm saying. That's all I'm saying. So one of you should get the sim and then and then come back and tell me if my spidey sense is.

I mean, this is just going to be something. In 100, we'll get the sim and then in 120 days, we'll be like, hey, surprise, Michael, we closed on it. Without you. I'm the proud owner of wrinkle cream and like collagen and all kinds of lady things, which is why it's pink. That's why. It's anti-aging. That's what the sunset is about. anti-aging products.

I'm pro that. Well, Jackie, thank you. This was a great one and fostered some great conversation. Send us some more. Just give us a little bit more detail like so. Please do. Try to be a better host. All right.

We'll see everybody next week. Thank you.