Acquisitions Anonymous - #1 for business buying, selling and operating - This Porsche Parts Biz is Every Gearhead’s Dream Investment

Starting point is 00:00:00 This is not like your typical import from China, like some random thing from Ali Baba that 10 other people can import. It's not going to be that competitive, right? Like it's a niche market, right? He's got some moat because he's actually doing the manufacturing. And it's probably too small scale for someone to use a contract manufacturer. So that's more of a moat. It's a little bit of a backwater. It's not at all dependent on the platforms.

Starting point is 00:00:20 Like this guy's not running Facebook ads. This guy's not on Amazon. Like, that's not where the customers are coming from. We don't have 100% here. Welcome back, everybody, to another episode of Acquisitions Anonymous. I'm Mills Snell, one of your co-host. We have everybody today. Michael, Bill, Heather, and me, we talk about a really interesting e-commerce business.

Starting point is 00:00:42 This one's on Quietlight. It is a niche e-commerce business that sells Porsche restoration parts. It's like $600,000 in revenue, $312,000 in free cash flow. They're asking like a three and a half times multiple. This business has high margins. It's in a really great sweet spot on e-commerce. that Bill talks more about. This type of business is kind of a great starter e-commerce business. It's one of the things that we comment on frequently because of the uniqueness of it, the small,

Starting point is 00:01:09 total addressable market. It's a great kind of foray into a different part of e-com versus the kind of more crowded Amazon FBA, easier to knock off type things. We talk about maybe the seller alliance and how you navigate around something like that. This is an awesome business. We're really, really fascinated by and really curious about it. So this is a great episode. If you've looked at anything e-com or you've thought about the uniqueness of e-commerce and how you differentiate. I think you'll really enjoy this episode. Stick around for a quick word from our sponsors and hope you enjoy the episode. Hey, everybody.

Starting point is 00:01:37 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 Connor's newsletter and attend one of his gateway to franchise ownership workshops.

Starting point is 00:02:12 If you're ready to move and move quickly, schedule a call with Connor and his team today. Heather has Riverside open in other tabs. I know. It said I did, but I don't now. And so. Okay. Yeah. Well, it's, which, which huge thing should we start with? Your amazing trip to Napa Valley or, or the fact the podcast seems to have inspired the onion to buy Info Wars.

Starting point is 00:02:40 I don't know. I don't know if that's causation, but we're going to take credit for it. So where do you want to start? Let's go with, let's go with Napa. What happened to Napa? Well, I had got the opportunity to go up there this week with my daughter and one of my friends. and it was perfect. Literally, we stayed in Yantville.

Starting point is 00:02:58 The fall colors were at their peak. We had a great place to stay. We didn't even go out to the wineries because in Yantville, they have all these tasting rooms. Literally just walk out the door and there's like the smell of bakery and wine. And we decided it was adult, like some version of adult Disneyland. It was the best. It was beautiful.

Starting point is 00:03:18 All right. Well, Napa sounds horrible. So glad you survived. I had a rough week. Yeah. You look none the lowest for wear, so well done. Bill, I wanted to transition us to talk about the big news for the podcast, which was the InfoWars sale.

Starting point is 00:03:32 So congratulations on. We timed the news cycle perfectly. We did. We did a good job of it. The funny thing about reading The Onion's announcement, and I don't know if you guys had this happen, like, I was reading the announcement, and I was like, wait, is this satire? Is this real?

Starting point is 00:03:49 And then they would go back and forth. Like somebody asked the guy who's the seat. who I don't even know if he was giving his real name, how much he paid for it. And he said a trillion dollars. And I was like, wait a second. What's going on here? None of this works.

Starting point is 00:04:03 They're doing something with it, like kind of what we talked about, which is sort of repurposing the content. It sounds like for comedy, if it's the onion. Yeah, basically our idea, but funny, which. Right. Better, but better. That's why they're a lot more successful than we are. That was great.

Starting point is 00:04:21 I had so many people send that headline to me as soon as it came out, which shows the reach of the pod. Like, people are listening to it. Yeah. People that I didn't know listen to it were like tagging us. Moulson tagged me. I didn't think he listened to the podcast. But thank you, Bolson. Or maybe he just saw the announcement about the podcast.

Starting point is 00:04:38 Maybe you just saw the tweets, which is why you post on Twitter and embed the video. And like, that's why we do all the stuff, you know? It would be really interesting to see what they do with it. And then Alex Jones was like right. back posting about them buying it and being really angry. So maybe that'll help. Oh, yeah. He's, yeah, he's, I mean, obviously he was going to be angry and whoever bought it.

Starting point is 00:05:01 Angry is his schick. He can't be happy. He's always angry. That's his whole thing. Yeah. It was definitely a don't read the replies kind of social media interaction. I opened up the replies and I was like, oh, closing the replies. Like, I don't want to be involved in this.

Starting point is 00:05:17 Yeah. Well, our replies were okay. I didn't see. Oh, yeah. Yeah, I was actually surprised. No crazy that I saw. We continued our three year, three year, three and a half year streak of not getting canceled. So I was pretty stoked.

Starting point is 00:05:30 It's the thing about being canceled, though, it's not, you don't get canceled immediately. You get canceled like this year for something you said three years ago. Oh, no. So every one of these podcasts is just a time bomb? Oh, well. Pretty much. Yeah. Mills, you are looking clean cut today.

Starting point is 00:05:46 What is going on? It was very overdue. It was very overdue. It was very overdue. When the roofers starts saying, hey, man, are you okay? Like, you look a little rough. Then you know it's time to do something. All right.

Starting point is 00:06:00 So I brought a deal. It came up through my Twitter feed today because a friend of the pod, Kelsey Lerich, posted that he wants to buy it. And so that's usually a good sign. Wait, does he own a Porsche? I feel like he does, doesn't he? I don't know if he does. Yeah, he's type.

Starting point is 00:06:19 I think he posted. I posted a picture of he owns like a fancy car. All right. Keep going. I do know he likes cars. I don't know if he has a Porsche. Kudos to him. All right.

Starting point is 00:06:26 So it's off of quiet light, America's favorite brokerage. It is an SBA pre-qualified 30-year-old Porsche parts manufacturing business with organic sales and 55% margins. Does $602,000 in revenue, $312,000 in income and it's selling for three and a half times income. So asking prices, $1.1.1 million plus $602,000. 50% net margins. Yeah. That's incredible.

Starting point is 00:06:52 Okay. So this business represents a rare opportunity to acquire a highly profitable, established manufacturer in the Porsche restoration parts market, combining consistent 55% gross margins and 70% repeat customers with virtually untapped marketing potential. Despite minimal advertisement and operating from a home-based facility, the business has maintained $600,000 in annual revenue through primarily word of mouth growth. The company's product line encompasses a comprehensive suite of performance and restoration components for air-cooled Porsche engines, with a particular focus on modernization and performance enhancement.

Starting point is 00:07:29 The business has successfully evolved from its racing routes to become a trusted name in the Porsche restoration community, with many customers maintaining relationships spanning decades. With an average order value of $765 in a remarkable 70% repeat customer rate, the owner has built reputation on technical excellence and customer service. The business has remained profitable through various economic cycles, including the 2008 recession, demonstrating the resilience of both the business model and its target market. Complete documentation exists for all products, including manufacturing drawings, bills and materials, and assembly instructions. Additionally, established relationships with qualified outside manufacturers provide production, flexibility,

Starting point is 00:08:10 and scalability. The business is positioned for immediate growth through several channels. relocation from its current home-based operation would enable would enable expanded production capacity and the ability to hire employees. Minimal historical marketing effort presents significant opportunities for the growth through basic advertising and customer outreach. Furthermore, several product development opportunities have been identified, including enhanced throttle bodies and drive-by-wire systems, allowing for the natural expansion of the existing product line. And it's brought to market by advisor Chris Dutty, who is... Look at this sweater. I love this shawl. It's a shawl.

Starting point is 00:08:44 Oh, Mills, since you're newly fashionable with your haircut, what do you think about brokers and T-shirts with sweaters? It's very, it's very forward thinking. Yeah. There's no hat. I actually know there's a purple suit. He sold a business for me. And he did an awesome job for us. Awesome.

Starting point is 00:09:03 Okay. So hats. We're wearing a hat. Hats in broker pictures, no. Sweeters, yes. Okay. For those of you looking for it. Okay.

Starting point is 00:09:12 Practical. Bill, what do these guys do? Do you understand the business? So this is a cool business. So this is a guy, presumably, I'm going to presume it as a guy. Okay, let's be real. This is a guy in a house who is a Porsche enthusiast who identified some sort of upgrade part for Porsche engines or something like that for probably his retro Porsches.

Starting point is 00:09:36 And he went out to an auto parts manufacturing company and basically got them to make it for him. put his brand name on it, and he sells it online to other Porsche enthusiasts who are upgrading their cars or restoring their cars, you know, and these are usually not people's primary cars. It's like the hobby car, you know, that's in the garage. So this, it sounds like it's some sort of modern technology part that fits on old Porsches. Is that kind of how you guys got it? It's like an upgrade, like new technology you can retrofit on your old Porsche. Yeah.

Starting point is 00:10:11 And I think so Porsche, you know, they publish these catalogs. Every manufacturer does where they publish a catalog to say, you know, for this make and model, here is the full catalog of parts with their original part numbers. But Porsche is probably not making, you know, 1964, 9-11 fins anymore. It doesn't have to be an OEM, an original equipment manufacturing part. So there's all these aftermarket folks who they say, look, I don't care if the Tam is, you know, $600,000 in this case, but we're just going to make like maybe a seat cover or we're just going to make, you know, as close to the original shifter handle or whatever their thing is, they just usually drill down into one thing. Yeah, I would say this is probably, it talks specifically about the air cooled porches.

Starting point is 00:10:58 Like this could be a specific type of intake for the engine to like a cool air intake or something that maybe in 1964, the science wasn't quite there that, you know, car manufacturers understood. Now car manufacturers all do it, but the old porches don't have it. So he makes a, you know, a specific kind of cool air intake with a certain size manifold or something for the new, for the old portions. It's got to be something like that. His average order value is $760, which is incredible, which means this whole business does 1,000 orders a year, under 1,000 orders a year, right? Because he's got 600,000 in revenue.

Starting point is 00:11:30 So this is like three orders a day. And I'm sure he's got a 3PL. And, you know, it just pings the inbox three times a day. goes over a 3 p. All he should, like almost no customer service. And I think he says, I think he says no employees, right? Like part of the growth plan is you can move out of the house and you can have employees. Yeah, there shouldn't be employees. But the big question is, are they making something, right?

Starting point is 00:11:52 Or is it just contract manufactured? Well, I wouldn't say just. I wouldn't stick the just in front of country manufacturer here. I'm confident it matters. Okay. I'm so hopeful this guy has a patent on it, whatever it is. Because, like, that is the biggest risk here is that someone from China, here's this episode, figures out what it is and makes the same part at half crisis.

Starting point is 00:12:19 I would guess, just reading into this one sentence, that he's making stuff in his garage or in a shed somewhere. Because it says relocation from its current home-based operation would enable expanded production capacity, which to me, you know, leads me to believe he's doing it at his garage and he probably has a mini machine shop out there. And his, his three PL is his kitchen table. That's my, that's my suspicion of what you're buying here. You're right. He is shipping this out of his head. So what's interesting too is this probably eliminates, I mean, he's probably not doing like serious fiberglass work in the shed. He's probably not like fenders or bumpers or like anything that's big to ship. This is probably, I mean, this, which is also what makes this incredible business at a 50% net margin. It's probably something relatively small that he's kidding.

Starting point is 00:13:08 or light assembly and his literal mailman is taking the packages every day because there's only three of them every day this reminds me one of the coolest businesses i ever saw um and it was run by a family acquaintance and basically what they would do was they had realized that people wanted these random like old auto parts for like like past like supported like 25 year old cars so what they would do was they were running campaigns all the time with Ford dealers around the country who had all these parts. And when the cars would go where Fort wasn't making new parts for them, wasn't supporting them anymore, they would buy the dealership inventory of like 15 and 20 year old parts, like all their flotsam and jets them. And then they would buy them for like 10 cents on the dollar. And then

Starting point is 00:13:56 they would sell them for, yeah, they'd buy them for 10 cents. They'd sell them for five bucks on eBay. So every day, like their 3PL was like the the UPS driver coming to pick up stuff for them to ship it. And they had like a 10,000 square foot warehouse of just like random Ford parts. And they were doing extremely well. Just like it gets even it gets even more niche. I own a 1989 Jeep grand wagon here that has been like heavily kind of like kidded and modded out. But it's these are woody. It's a woody Jeep. Right. But mine doesn't have the wood panels. And a guy down the street right away was like, hey man, there's a guy who makes the wood panels. And sure enough for kind of the same average order value, ironically, for about 800 bucks, you can get a kit that you put in the

Starting point is 00:14:39 make model year of the thing. And he ships you because he has the templates, he knows the door styles. Like, it can be that niche. It doesn't have to be, he talks about expanding here into like wire harnesses, which makes me think this is maybe a more technical product. It's not just fender flares or like, you know, the decorative hood ornament kind of thing. I think it's probably a little bit more technical. Hi, Heather here. When I'm not breaking down deals with these guys, I'm helping people get the right SBA loans for their business acquisitions. Because when you're buying a business, the best financing isn't one size fits all. There's the best rate, fastest to close, the specific loan structure that you need, or a little of all of those things. That's why my

Starting point is 00:15:17 company, Vizzo Business Capital, works with over 30 different lenders to find you the best funding in less time and with less friction, so you can focus on the deal. Sign up for a free live Q&A session on SBA loans at VizzoCAP.net. Then click Zoom sign up in the top. right corner. That's v.isocap.net and click Zoom sign up. Yeah, I think somebody's got the dashboard off, you know, or the hood popped. It's something in the electrical system or the air intake or it's something a little bit more mechanical for enthusiasts. It's not a sticker. Or, you know, it's not cosmetic. Yeah. Yeah. But your chief engineer is your seller. Yes. I think he's, I think this, the person that does this is manufacturing them. I think he's doing customer support.

Starting point is 00:16:02 I think he's doing kitchen table PL. That's my pun for whatever logistics. Three P. One P.L. This is one PL for sure. Well, he's doing one PL. He's doing the accounting. Which is for one person logistics, not the first party logistics.

Starting point is 00:16:20 Heather, that's a good point because I think this guy, Michael, like you're going down the laundry list of stuff he does. I bet he also is in the blogs. This is like a forum heavy community. Yeah. And if you like, you're sort of. searching a specific year and make and model. And you're going to the forum and people are like, I'm having that problem too.

Starting point is 00:16:38 And this guy is in the comments. And he's probably like a top contributor, you know, on the Porsche owners forum. Yes. As the guy who's the expert in just this one little thing. And other guys on the Porsche ownership forum are like when somebody posted about is like, hey, Paul from Porsche Customs has that part. Like, and then they tag Paul and he pops in the replies. Like people know him, I'm sure.

Starting point is 00:17:00 Yeah. So I do another guy. who back in the late 90s lived in a $15 million building in Soma in San Francisco. And he was just kind of this nerdy guy. And I was like, how is this guy living in a $15 million? Back then, $15 million, Heather, I don't know you. Back then, $15 million is a lot of money. It's not like today.

Starting point is 00:17:18 You know, $15 million barely gets you out of McDonald's. But anyway, that's a joke. But so the guy lived in Soma and it was in this $15 million building. And I was talking to him, I was like, what do you do? Like, explain this. to me. And I'm like a wide-eyed 20-something. And he goes, oh, well, you know the guys that make those really loud, tuned up like Toyota Supras and stuff like that? I was like, yeah. He's like, I sell them $2,500 add-on computers to replace the factory one to get double the horsepower out of those

Starting point is 00:17:51 engines. And I was like, how do you make them? He's like, I got two people in my shed and I make them for 500 bucks a piece in the first floor of my building. I sell them for 2,500. And like, the whole enthusiast communities, exactly what you're talking about, Bill. They knew him. He had one of those cars. He would post about his adventures and then he'd sell people the exact same thing he built for himself. And he would sell thousands of these things a year at 80% gross margin, just like crazy. Yeah, these are the better types.

Starting point is 00:18:20 I mean, let's talk about like auto aftermarket parts because this is a huge category. If you've ever been, I think one of the largest trade shows in the United States is called SEMA, which is the auto aftermarket show. in Vegas every year. If you are like a trade show nerd, go to Seema. It's at the Las Vegas Convention Center. It's the whole thing. It's full of all these tricked out, jacked up, souped up cars. They do donuts in the front. They've got like this whole parking lot, like, where they parade all the cars and drive them around. It's like every stereotype of a trade show is Seema. It is a, it is a scene. But it's because this is a massive, massive, massive industry.

Starting point is 00:18:59 All the different makes, models, years. you know, forever. There's millions and millions of cars on the road. But there's two types of automotive aftermarket businesses. There's good ones and there's bad ones. This is a good one because it is targeted at a specific make and maybe even certain years, right? The margins are good and it's not inventory heavy. Now, the downside, of course, is the growth is capped, right? Because there's only so many 1968 portions or whatever on the road. But in general, so these businesses are typically smaller, better margin, less competition, and fewer skews. The other end of this is, I actually worked with a consulting client recently.

Starting point is 00:19:40 He had bought an automotive parts business that, what I would call it long tail automotive parts. So he was actually a fascinating deal. He ended up buying, I helped him do the deal. He bought like a million bucks of parts, like a warehouse, a business had like a million bucks of parts for he only paid like a hundred grand for the inventory. And it's just basically, but it's this long tail, you got to wait for some guy with a 1972 Chevy Impala to need that part and like, you're the only one America that has it and you can charge him a huge amount of

Starting point is 00:20:11 money. But it's very inventory intensive. And it's about catalog and it's about holding all the different parts for all the different years. I think those can be harder businesses because of the capital intensity. We did, we did one of those on the pod with Mills, was it you and I doing that way. It was, but it was a bunch of military crap, right? Like old NATO. Yeah. Yeah. Like, what am I going to do with a thousand jackets? Anytime the Tam is always decreasing, I call it the bleeding edge. You know, there's the leading edge and there's the bleeding edge. This is and there are businesses like that, but you have to kind of value it that way too. I mean, let's just say you can't, you can't expand other makes and models. This is kind of it for this

Starting point is 00:20:54 business, there's the number of Porsches of that year are going to shrink every year. Yeah. I guess that leads in Heather, like, who should buy this business? Someone who is a car, who is an auto mechanic already or who does this kind of work already, you have to replace the seller here. And I think that's probably the biggest problem. Not only do you have to replace their, their skills and them doing the job. You are buying a job for sure.

Starting point is 00:21:18 And you're buying a very specific job here. But to your point on the forums and how the business. probably comes in through the network of car enthusiasts, you've got to be able to replace that, too. You know, if it's Paul now, you've got to be the new Bob that also loves Porsches and knows all this stuff. So I think this is a very, very, very specific buyer potentially. I'm kind of perplexed by the fact that they mentioned 70% repeat customers.

Starting point is 00:21:48 You know, it makes me question what type of thing they're selling and making. but there also, I think, is the possibility of the people who restore these, they don't just do it once. There's a lot of guys and gals who are repeat, you know, car restores. And so that could be part of it. Yeah, or they could have a couple skews. Or best case, it's consumable. That would be amazing. Yeah, that would be amazing, like a filter or something.

Starting point is 00:22:15 But I don't think it would be that much. Yeah, that's not a $700 filter. But that would be awesome. I actually think this is a, as far, far as starter e-commerce businesses go, I actually think this is a great one. Because if you don't really know e-commerce, but I don't know that you've got to be an auto mechanic, but I think you got to like cars. And I also think you should buy one of these Porsches if you buy this business. Like, roll it in the purchase price. And I'll put it in the SBA loan. That's no problem. Yeah. I was going to say,

Starting point is 00:22:44 Heather, is that permissible? Maybe, right? I mean, it's a business asset? I mean, from your perspective, I see it. I don't think the members are going to agree. Could you see that? What if this guy owns one and you, what if this guy's LLC owns one and you buy it as part of the business? Then it is okay. Yeah, it's just an included asset. But you know this guy is not going to, he wants to exclude that asset from the asset

Starting point is 00:23:12 list all day long. Exactly. I mean, let's be real that this guy does not own a Porsche. He owns Porsche's plural. Yes. I guarantee he owns a weird. warehouse full of this crap. My father-in-law was one of these guys, by the way.

Starting point is 00:23:28 At one point, he built, he had a 1,500 square foot house, and he had a 7,500 square foot garage just full of cars. And you're like, well, that seems pretty cool. No, then he built a whole other garage behind that one for another 10,000 square feet to put more cars in there. And he was buying it something. He would make money on these things, like buy them and go from there. But it's becoming really big trading cards, right?

Starting point is 00:23:51 Yeah, yeah. Yeah. Yeah. Yeah, there's like baseball cards that leak oil, right? But, I mean, there's a really interesting thing here where a lot of these baby boomers, especially who are really into cars and working on cars, there's two trends massively going against them. Number one is like the younger generations, like my generation, Gen X time, Heather, like by and large, we are not car people like they were.

Starting point is 00:24:15 And secondarily, like cars are also getting massively more difficult to work on. They're basically computers with wheels at this point. So my father-in-law wouldn't buy anything like built past like 1985 because it was just too difficult to work on and too difficult to do anything with it. So you're seeing a lot of baby boomers who have these huge collections and they just don't know what to do with them. Like they have 30 cars and like there's no place, no place to go. The kids don't want them. And it's like, what do I do with these things that I really enjoyed? Just keep replacing the parts from this guy's business.

Starting point is 00:24:47 Yeah. But anyway, I guarantee this guy lives in like rural Indiana somewhere. like outside of Indianapolis, and he's got like 10 acres of land and 15,000 square foot of Porsches. A warehouse. In a warehouse. Bill, what do you make of the plus inventory on a deal like this? Well, I mean, keep in mind, it's common, right?

Starting point is 00:25:07 Like, it's pretty stupid. So it doesn't weird me out there's plus inventory. Being that this is not the second category of automotive aftermarket parts businesses where I said that it's got probably a base being full of a whole bunch of deep long tail stock, I'm not that worried about plus inventory here, especially because he seems to be making it in his house. You know, he's probably got two weeks of inventory. He probably, you know, he does a bulk run like every Sunday, right? You know, so I'm not that worried about it here.

Starting point is 00:25:34 Don't you think that this is like a very big negotiating point, though? I mean, one, it's a big deal to people because, hey, you know, in this case, it's probably not that seasonal. But in a seasonal business, it's a huge freaking deal about, and Michael can talk more about this with the fireworks business that bokes up probably twice a year, but long lead time to get the inventory. This seems like kind of maybe just in time, potentially. Potentially. Yeah. But it's just, it's such a component to me because it's like, I don't know.

Starting point is 00:26:02 I mean, you're going to sign the NDA and find out how much inventory is he listing. If he's got like six months of inventory on hand, is that a feature or a bug? It's probably a bug in a business like this. But I bet in a business like this, I'm guessing if he's making it, he doesn't have a ton of skew. if he has too much inventory on hand is literally because Lee like took two weeks off and made the year's worth of inventory. And so that's not a big deal, right? Like he just, he did that on purpose and you adjust the purchase price for that and you know

Starting point is 00:26:33 that maybe you take two weeks off a year and make a year's worth of inventory and that's just the smart thing to do because also his, that's worth mentioning, his margins are so good. A year of inventory is a relatively small amount of dollars. Yeah. It's like 10% of your revenue. Right. So like it might make sense just to say. the time and do a whole month a year for the manufacturing all the once.

Starting point is 00:26:54 Okay, so serious question. Why shouldn't we buy this with Kelsey? I like this. I really like this, especially if Kelsey's going to run it for us. So I like, here's why I like it. And just to come back to why I think this is a great beginner e-commerce business, it is, this is not like your typical import from China, like some random thing from Alibaba that 10 other people can import. And it, it's not going to be that competitive, right? Like it's a niche market, right? He's got some moat because he's actually doing the manufacturing. And it's probably too small scale for someone to use a contract manufacturer. So that's more of a moat. So you're probably not going to get a lot of competition. It's a little

Starting point is 00:27:34 bit of a backwater. It's, so you're not going to get a ton of competition coming in. It's not at all dependent on the platforms. Like this guy's not running Facebook ads. This guy's not on Amazon. Like that's not where the customers are coming from. So like this only hurdle here is you got to learn about Porsches, which, you know, there are worse things. Yeah, there's worse things spending your time. So, like, if you want to get into e-com, like, and I bought, by the way, I bet this guy's website is awful. And I bet maybe some basic Google ads would probably grow his business, maybe even some

Starting point is 00:28:05 selling eBay, like maybe even putting it on Amazon might help. Like, you could probably grow this business a little bit. You're not going to for-x this business unless you can introduce new skews and all that. But as like part of a portfolio, this is actually not bad. It's a little small for that because you need to put a dedicated manager in who will suck up half of the $300,000 a year of income. But like Kelsey wants to do it for free. I like this. There's a lot to like as a starter, learn about e-com.

Starting point is 00:28:35 Maybe you grow this business 25% over two or three years and sell it again and you kind of cut your teeth in e-com and learn what's going on. I have moved further and further onto the edge of my seat as you've been talking and I'm ready. you're ready to buy it yeah on that note let's go ahead and go around the horn to finish this one up thumbs up or thumbs down heather well thumbs down for me i i don't want to learn about cars sorry but i mean i agree with phil the right person i they could get the loan for sure you think you think this is financeable heather yeah the right person it really that's the lender would really just scrutinize who it is okay even though that's self-manufactured you know all that and even though it's bleeding edge to your point like you don't think yeah if someone can

Starting point is 00:29:18 convince the lender that they can do all of that and they can move the operation. Moving it also is a little bit of a challenge for lenders to explaining how you're going to get it out of his garage without messing everything up and into wherever you're going. But I think it is financeable. Okay. Thumbs down. You're not buying it, but you're, but someone else. Oh, yes. I love it.

Starting point is 00:29:36 I don't even know we had these kind of special effects. Michael, you were waiting patiently. Yeah, I don't know. Does I do that? No. No. I think it's something at your computer, dude. For those of you just listening to audio, Mills just had a bunch of fireworks.

Starting point is 00:29:47 Come on. Yes, fireworks. What are you guys doing? I had no idea the stuff is on here. So congratulations. For those of you, just listening on audio, we're very excited because we give thumbs up and fireworks shooting our background. I like this too.

Starting point is 00:30:02 I'm ready for Kelsey to do it and then come back regularly and tell us how it's going. So I think it's a good one. Bill, please group text me and Kelsey and you right now. Group text. Yeah. I think it's a great start of econ business and it's even better. for Kelsey to buy and run for us. So I'm definitely, I'm sending a group text after this way.

Starting point is 00:30:23 Righteous. All right, everybody. Thanks for listening to this week's episode. We'll see you next time.

Acquisitions Anonymous - #1 for business buying, selling and operating - This Porsche Parts Biz is Every Gearhead’s Dream Investment

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