Acquisitions Anonymous - #1 for business buying, selling and operating - Underwater Camera Manufacturing Business for Sale

Episode Date: August 21, 2026

In this episode the hosts analyze a niche underwater camera housing manufacturer whose poor marketing may be hiding an exceptional acquisition opportunity, debating whether the real value lies in mode...rnizing sales rather than operations.Business Listing – https://www.bizbuysell.com/business-opportunity/highly-scalable-underwater-imaging-manufacturer-for-sale/2439426/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.Looking to build a professional website in minutes? Try Wix: https://wix.pxf.io/c/6898629/3115214/25616?trafcat=templateHubSpot is the backbone for how businesses scale without chaos. Try them out here: https://go.try-hubspot.com/OeG9VrSubscribe for more episodes: https://www.youtube.com/@AcquisitionsAnonymousPodcast?sub_confirmation=1Subscribe to our Newsletter: https://www.acquanon.com/newsletterSponsors:Inzo TechnologiesBuying a business means inheriting years of technology decisions. Inzo Technologies helps acquisition entrepreneurs evaluate IT and cybersecurity risk during due diligence and provides a practical 30-day stabilization plan after closing. Learn more at https://inzotechnologies.com/etaFRANZY - Thinking about buying a franchise instead of an independent business? FRANZY is a free platform built for acquisition-minded entrepreneurs who want to explore franchise ownership without broker bias. FRANZY matches you with franchise opportunities based on your capital, goals, and lifestyle—and includes free coaching from experienced franchise operators. If you're exploring ETA but want a structured, system-driven alternative, check out https://franzy.com/ Could a 50+ year-old underwater imaging manufacturer be one of the most overlooked acquisition opportunities on the market? Michael Girdley, Mills Snell, and guest Brad Weimert from Quiet Light break down a California-based business listed for $1 million with approximately $986K in revenue, $167K in cash flow, and more than $450K in inventory included. The company designs specialized underwater camera housings and imaging systems for customers ranging from Hollywood productions to research organizations and military clients.The discussion quickly shifts away from the financials and toward the real story: a business with an impressive reputation that appears to be marketed incredibly poorly. The hosts debate whether the company is an operations-first manufacturer that simply never learned modern marketing—and whether the right buyer could dramatically grow revenue through e-commerce, YouTube, Meta, and content marketing.Along the way, Brad shares candid lessons from representing hundreds of business sellers, explains why so many listings fail to tell the real story, and outlines exactly how he would structure an offer—including a lower all-cash purchase price and inventory consignment—to unlock an attractive deal.Key Highlights:- Underwater imaging manufacturer listed for $1M with roughly $167K SDE and $986K revenue- Nearly $452K in inventory creates major discussion around valuation and deal structure- Hosts believe weak marketing—not weak products—may be the biggest issue- Brad explains how honest brokerage advice differs from overpromising sellers unrealistic valuations- Creative acquisition ideas include cash offers, inventory consignment, and turning the business into a modern marketing machineSubscribe to  weekly our Newsletter and get curated deals in your inboxAdvertise with us by clicking hereDo 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 contact@acquanon.com

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Starting point is 00:00:00 Do you enjoy scuba diving? Do you enjoy photography? Do you enjoy banter from three middle-aged business dudes about said deal? Well, today is your lucky day. Myself, Mills, and Brad from Quietlight went through a really cool deal that happened to be horribly marketed. So presented an opportunity so good that Brad said he wanted to actually potentially buy this business. Stick around to the end of this one to see where it all went because it was great. Here's the episode.
Starting point is 00:00:30 We don't have 100% beers anymore. And thumbs downing on just the plus inventory. When you close a deal, you inherit the cyber and IT problems that have been piling up for years. Inzo Technologies, that's INZO, helps acquisition to entrepreneurs evaluate technology risk during due diligence and manage cybersecurity, IT, and voice after close. CEO Nick Acres acquired Inzo and recently, led the company through its first add-on acquisition. He brings a buyer-operator's perspective to what needs to be uncovered before the wire and stabilized once ownership changes hands. Inzo offers a
Starting point is 00:01:12 complementary IT risk audit of your target company to help surface the biggest risks in plain English and deliver a 30-day plan to reduce exposure and lower the risk of downtime. Visit enzo Technologies.com slash ETA and mention acquisitions anonymous. That's I-N-Z-O Technologies.com slash ETA. All right. We've got another Girdley Claw deal. Before we start, we get in with that. Brad Wayland is with us on the show today.
Starting point is 00:01:43 Good to see you again, Brad. Thanks for having me. I love having Brad on the show because Brad is a working business broker at Qualite Brokerage, and he brings, you know, we've got kind of the equity guy take. When Heather's here, we have the lender take. And so it's fun to have the broker side of the transaction take as well. And Brad is not afraid to get into it with us and push back.
Starting point is 00:02:02 So this should be a good episode as it always is. Michael has brought a cool deal for us, discovered by his AI bog, Girdley Claw, who is now helping us select deals for the show. What have you got for us, Gurdley Claw? It is a deal off of BISBicel. It is a highly scalable underwater imaging manufacturing manufacturer for sale located in California.
Starting point is 00:02:28 And the picture here, and Brad, it looks like a scuba diver taking a picture of a fish. Yeah, I'm intrigued. It looks like fun. The asking price is a million dollars, and cash flow is $167,000. Gross revenue was just shy of a million dollars, $986,000, and it was established in 1969. And here's the description. For more than half a century, this business. for sale has set the highest standard in underwater motion imaging, earning a global reputation
Starting point is 00:03:02 for reliability, precision engineering, trusted performance, and customer service. It is the leading brand professionals select for excellence in underwater imaging. An extensive client list includes Hollywood producers, research scientists in the U.S. and allied militaries and natural history productions. Sorry, if I'm stumbling on my words, it's because there's typos in this, and I It's screwing me off. I'm not illiterate. It's just the writing is bad. All right.
Starting point is 00:03:35 Do you want to make fun of me again, Mills? No, no. I was saying complimenting you, like, you should log into YouTube to see how well you did with that because I was confused as I was trying to read it. Thanks. In 2024, the company generated $836,000 in revenue. with a seller's discretionary earnings of $150,000, and it is on a pace to exceed $1 million in 2025 with a projected SDE of $165,000.
Starting point is 00:04:06 A diverse product portfolio and loyal global customer base have driven steady, predictable revenue, supported by a robust infrastructure of skilled personnel, advanced facilities, and specialized equipment. Historically, companies' revenues have reached as high as $2.4 million, and according to the owner, the company is well positioned to expand, beyond $1.5 million with a targeted investment in marketing and personnel. Notably, the company
Starting point is 00:04:30 is currently in discussions with the U.S. Navy SEALs, I'm sorry, notably the company is currently in discussions with the U.S. Navy SEALs regarding their underwater equipment needs, signaling strong momentum in the commercial and defense sectors. They have $452,000 for of inventory and $268,000 where the furniture's fixtures and equipment included in the asking price. It operates from a dedicated manufacturing and assembly facility equipped with precision machining tools, testing equipment, and engineering workstations. Assets include proprietary designs, CAD files, specialized tooling, and an inventory of camera housing, lighting systems, and accessories. These resources support efficient production, customization, and ongoing product
Starting point is 00:05:12 innovation. The company serves a high-end niche in underwater imaging, unlike competitors offering standard off-the-shelf housings. It specializes in custom engineered mission-specific solutions. Its reputation of precision, durability, and direct collaboration with the major organizations positions positions it as a trusted technical partner rather than a
Starting point is 00:05:30 typical manufacturer. There's a bunch more here. The current owners are retiring. They're committed to a smooth transition and will provide a thorough handover period, offering hands-on trading and operations. A new owner should be prepared to assume leadership, administrative duties, and like
Starting point is 00:05:46 design support. Oh, and they put their website here. Go XEO Underwater Imaging Manufacturer. So they manufacture, they're actually, it looks like they're putting together the components, but they're not maybe manufacturing the individual components. It seems like they may take a normal camera and put it in a very special housing, is my understanding of something like this. It, I don't know, it seems kind of small given the specificity of what they do and how big their, their target market, I guess could be.
Starting point is 00:06:22 They're talking about aerospace and defense. You could get one. They have a video. Sorry, clicked on it. It's another for sale by on it. Right?
Starting point is 00:06:44 Or no, Xseo. So I thought XXEO is the broker. I think Xio is the broker, but it almost looks like it's like user submitted. Like he gave the audio on that video. It looks like maybe it's kind of like a
Starting point is 00:06:58 user-generated platform. You know, like, hey, you populate your own information and we'll just give you the place, you know, the landing page. And some of it sits behind maybe a paywall or an NDA wall. Create account and sign NDA. What do you think about this website? Brad, have you ever seen this before? I have not. It feels like one of those ones so you could just press a button, complete the NDA, and they show you everything.
Starting point is 00:07:27 It's like, okay, well, great. Which is a pro and a con. So in that video, though, it showed kind of the housing, and it looks like a very specific thing that you put your camera in, you know, so that you can take pictures underwater. I still think that this business is kind of small. Yeah. I mean, they do hyper-custom, small, super niche imaging equipment housings. What's cool? You know, and these devices are probably $25,000 cameras.
Starting point is 00:07:59 So that means they're selling 40 or 50 a year, maybe. I know, Brad, what do you think? Do you do underwater videos like this for your clients? If not, why now? No, but the video keep playing on a repeat. Are you the one controlling that video? Yeah, I played it twice. It's kind of hard to have a conversation with it going.
Starting point is 00:08:21 I'm kind of intrigued. I'm with Mills. What is the deal with why this company is small? Like this feels to me like it should be like a Shopify website with like a bunch of products that you can choose from and they sell it on different platforms. But for some reason, that's not what I feel like we're looking at. But what I see is like I have my oldest son who's in college. We were in Alaska last week and he's got this all these camera contraptions. And, you know, he said one day that bag has $3,000 worth of camera equipment in it.
Starting point is 00:08:58 And I was like, oh, man. Whoa. Lugging around $3,019 year old lugs around $3,000 worth of camera equipment. I'm like, who paid for all that stuff? Yeah. But as I'm looking at these products on here, it looks like it's taking those fancy camera components, putting them in waterproof, you know, machinery, and then, you know, kind of doing stuff. So here's what I wonder. You know, I spent a lot of years in the T-shirt business.
Starting point is 00:09:28 And one of the things, one of the lessons that I learned from being in the T-shirt business was this idea of you're either a marketing company or you're an operational company. And I have found in my career that this is almost always true. Whenever I get on a call with someone that wants to sell their business, I'm always thinking, is this an operator or a marketer? The marketers generally are the ones that are better visionaries. just as a, you know, general rule. They're the ones that, you know, a lot of them are like the C student
Starting point is 00:10:06 that, you know, no one ever thought would be all that successful. And then they go and do these great things. So as I think about this, in the T-shirt business, we were good at operations. I was like a one-man marketing show running this website and stuff that was supporting 100 plus people, but what we were really good at was producing T-shirts for groups and things like that.
Starting point is 00:10:31 The biggest competitor we had was called Custom Ink, which I'm sure everyone's probably heard of. They're like half a billion or more sized company. Great marketing company. Not great at production. They needed to outsource their product. They tried to take on production. They ended up closing all those facilities.
Starting point is 00:10:48 So what do we have here? It says they're a manufacturer of this stuff. I am really wondering right now, is this a company that is really good at manufacturing and has no idea how to market their product? So I think to support that, just if you Google underwater camera housing, there are, it seems so crowded. And none of them look like the one that they showed. There's like Ickylight, Aquatech water imaging technology, Outtex underwater camera housings, blue water photo, back. scatter underwater video and photo. Like, there's a ton of companies that seem like they're doing this.
Starting point is 00:11:28 And this could be the case like, Brad, these people could make the best one and they're really bad at telling their story. That's what it seems like. Well, yeah. I mean, just look at the website for the whole thing or the listing. We're all totally confused. Inside they make really good cameras, suck it talking about them. And the average order value of these things looks like in some cases, it's like $1,500 per
Starting point is 00:11:51 skew up to like $8,500 per skew. So if the business, you know, is doing a million dollars in revenue and they've been around since 1969, I mean, this is like cameras. 20 orders this month. cameras have changed drastically since 1969. Like, you know, is there any intellectual property? They don't mention that at all. Like, there's a lot of things that, you know, you could address in this listing that would help me understand this a lot better. But I don't know. The fact that this is a 50-year-old business is staggering to me. Brad, so, I mean, this is unlike some of the other deals we've done with you on the podcast.
Starting point is 00:12:34 This one's actually listed by a professional broker. Like, how, like, you being on the broker's side, I don't want to poop on this broker because I know it's not always, it's often not the broker's fault that the listing is like. Michael, I was there when you pooped on me. And I had to listen through the speakers of my radio. And you were yelling back at us. And I was screaming at the radio, but you couldn't hear me. It makes you feel better.
Starting point is 00:13:00 I don't remember doing it. So it was still. Wasn't it? Oh, man. You got one where you absolutely destroyed me. It's bad. You're like, let's see what our friend Brad has to say about this part. we need a sound by that we need a clip i'm so sorry brad
Starting point is 00:13:20 i remember hopefully we're friends now anyway these things stick with me i mean how how do sellers get themselves into a place like this where the listing's just bad right i mean you have to you have to be coaching sellers a lot and is it they're just kind of like anybody else like you can make all the suggestions you want but sometimes they just don't listen or how does that dynamic tend to go down that something comes out with probably this many holes in it? You know, I have taken a lot of approaches over the years, but one thing that I will tell you is sort of interesting is I describe the industry that we live in as being kind of slimy. I'm not trying to say that broker John here is slimy.
Starting point is 00:14:05 But what I think happens a lot of times is a broker tells a seller. hey, what do you want to sell it for? Or throws out a price that sounds attractive. Then says some kind of thing like, we have a lot of buyers that will really be interested in this. Just a couple little comments like that can be enough for someone to be like, tell me where to sign. I had a guy one time that I really, I met him at a conference.
Starting point is 00:14:34 He had a very impressive business built around the game, Magic the Gathering. Okay? Very impressive business. super profitable, great seller, super great entrepreneur, built it to transfer, the whole nine yards. And we get talking to an office, it's like, this guy is going with me, I'm going to take this listing,
Starting point is 00:14:54 and I go back to my office, after the conference, all this stuff, and he says, hey, I decided to go with somebody else. I see him a year later. And when I see him, I'm like, hey, did you ever sell? He's like, no, actually, I wanted to talk to you. I wanted to talk about listing. I ended up selling that business this year. So what's interesting about that story is that when he was talking to me, he said,
Starting point is 00:15:21 you know, it was this, I'm not going to say the name, but it is this well-known marketplace for listings. And he said, you know, they told me they had this M&A specialist that specializes in my category, and so I signed up with them to sell it. It was just a complete fabrication. And so these people are having to trust based on very little data. So my approach now is I'm just kind of. of, as you guys have probably seen for me doing the podcast with you a lot, I'm just like insanely blunt at this point. I just basically tell people like, hey, just so you know, you're going to go talk
Starting point is 00:15:53 to other people and they're going to say it's worth this and they're going to say that this is what they have. And I just want you to know, I believe that is all a bunch of fabrication because this is the reality. I sell these businesses all the time. I've been through 120 transactions. I was 26 transactions as a buyer myself. I had four exits. This is all I've done for 25 years. and I'm telling you it's worth this. Or I'm telling you it's not worth more than this to very many people in the world. And so I just try to be really blunt about it. So I do think that when it comes to selling, it's a super painful process.
Starting point is 00:16:25 People talk to somebody and they kind of paint this glossy picture. And then they sign on the dotted line, which is one of the reasons why we went to a 90-day engagement letter, because a lot of the firms we compete against require a year or more. So one of the ways that we sort of prove out, like, hey, we are not here to just lock you in is, hey, we want 90 days of exclusivity. So I do think that this person could have been represented much better. I've got more to say about it, but I've talked a long time. But it's just like this is very intriguing to me.
Starting point is 00:16:58 And I don't think it's being represented very well at all. One of the biggest risk in entrepreneurship through acquisition is buying a business with fragile systems. Unclear demand are a single owner who holds all the knowledge. Franchising approaches that problem differently. You are buying into an established brand with documented systems, unit level data, and repeatable operating playbooks. The heartbarred is knowing which franchises are actually worth evaluating. That's why Alex Moresniak, former CEO of Two-Yeal Laundry, built Franzy.
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Starting point is 00:17:49 I've always said, Brad, because I have some friends in the brokerage space, and I'll give them a hard time, they can have an opportunity come along, especially more local and like geographic, not online, specific brokers, but like more geographically constrained brokers, they can have an opportunity to come along that is really not a fit for them. It's too big. It's not something they've done before. It really requires some specialization.
Starting point is 00:18:14 And they get zero points for not taking the listing. Like, you've got to lock up the listing. And so the seller may say, well, I think it's worth 25% more. The broker gets zero chances, zero shots on goal unless they lock it down. So like their biggest incentive at that point is lock it down even if the seller's expectations are unrealistic or even if this,
Starting point is 00:18:37 I've never done a $5 million enterprise value deal. I've only done $2 million enterprise value deals, but I've got to take the listing in order to try. And so you end up with these situations where, you know, a broker isn't willing to tell a seller a hard thing because they're worried about not getting the listing or, you know, making them mad or whatever. And it's like, hey, look, we're all going to waste our time. Your business is going to sit on the market for three years. years because it's not worth this. I think you're exactly right. One of the things that is unique and I've never lived in that world,
Starting point is 00:19:11 but I think for your typical broker, their biggest issue is deal flow. How do I get listings? So I've never lived there. Quietlight approached me. I thought the idea of brokering deals sounded like the worst career choice ever. Somehow I ended up doing it to like a pretty heavy degree and I love it. But what's interesting is, like, we take in about 5,500 leads a year. We turn those 5,500 leads into 200 sales, under 200 sales, between 100 and 200 sales.
Starting point is 00:19:44 So we say no, or we say, let's try again later a lot of the time. I do about 2 to 300 valuations a year. So, you know, I closed 27 deals last year. So that just gives you an idea of, like, how many times my call is more along the lines of like, here's what I think you need to do to make this better. But in this case, we've got a business that's 50 years old that's profitable. It's an interesting category. And I feel like they've missed what seems to be a super compelling angle, which is like,
Starting point is 00:20:20 hey, we're operators and we need to add water in the form of marketing. Yeah. And maybe some positioning. Yeah, there's no discussion here about what's unique about the product. who that client list is interesting. It's just like, hey, the seller's like, hey, last week I talked to some guy at the SEAL, Navy SEALs. It's like, well, what about the 50 years before that?
Starting point is 00:20:42 Like, what has caused you to be, you know, selling a million dollars worth of these housings for the last 50 years and two and a half million at one point? And, like, there's no mention of that. Like, tell me, you're bearing the lead here, guys. Everybody thinks that their business is a premium. You know, everybody thinks that they're the market leader or the most sophisticated or the best.
Starting point is 00:21:03 And it's easy to say that, but back it up somehow. You know, if they told us, hey, our average order value is $20,000, then all of a sudden you go, okay, I can Google this
Starting point is 00:21:13 and most of these things are $1,500. You probably do have something special, and now I want to know more. But when you just say, I've been around 50 years and, you know, this is what our revenue is, I'm looking at websites when I Google it that look like they probably have a lot more than,
Starting point is 00:21:28 you know, a million dollars in revenue. I'm more interested in them. now. I think this is an inherently really, really difficult business to transition. They have almost half a million dollars worth of inventory. I think from looking at some of these websites, it's a large number of skews because the housing is so specific to the camera and lens setup. So, you know, you're buying, you know, basically the inventory, I don't know if it's at cost or I I don't know if that's at sale value, but the multiple gets a little bit more palatable
Starting point is 00:22:05 based on the fact that they're throwing in the inventory of $452,000 or whatever it was. But this is just a really, really tricky business to sell. And like my soapbox, Brad, which I don't think I've ever gotten it on, gotten on it with you on the podcast, is when people present a deal with a price in terms that doesn't pencil. And I haven't run the math on this, but I'm not sure that it pencils. I don't think you can put, you know, call it $800,000 worth of debt on this business and have enough cash flow to service the debt. So what do you do? And a lot of times I use that as a discussion point with a seller to say, hey, I don't, I'm not arguing with you. Maybe it is worth a million dollars.
Starting point is 00:22:49 But no bank will finance more than X number of dollars based on a debt service coverage ratio. So like if there's a millionaire walking around or a. a billionaire walking around who just wants to write you a check, great, I don't think they're doing it for this type of business. That's not the types of checks that they write. And let the bank and the covenants around debt help make the case. I just, I don't think it's probably worth this much. I don't think it pencils. Usually where Heather is like, there's no way it does. And I'll tell you, she's correct. It's no way it does. Let's say the price, asking price was reasonable. Who should own this business? Probably a competitor.
Starting point is 00:23:26 first and foremost, and then maybe a photo enthusiast and underwater photo enthusiasts who doesn't really care about the financial performance of the business as their first priority. You know what I like about doing a podcast of Brad? Doesn't feel the need to talk
Starting point is 00:23:43 unless he's got something to say. It's one of your best capable. I like you, Brad. And I'm sorry about what I said about all your listings before. Hopefully you being quiet was just you're like waiting for something to say and not secretly figuring out
Starting point is 00:23:55 how to bring me to my, end. Michael's really laying it on thick. He's like, I don't like the fact that this guy was mad at me. I'm going to, I'm going to wreck the one little, one little compliment at a time. I'm not going to conflict. All right. Brad, who should own this business? I think I want to own it. Well, one, so you go through these phases of your career. I have five kids. Um, they're all boys. And they're, they're at the age now where they're like quoting movie lines to me. And thinking about business ideas. My college son is creating 3D images for Amazon products and stuff.
Starting point is 00:24:36 These are, you know, they're just, they've grown up around an entrepreneurial home, and they just, you know, the world is their oyster right now when it comes to that kind of stuff. So I'm looking at this, and I've got this son that's really into video and things like that, and I'm just thinking like, okay, for one, this asking price of a miller, I think is not real. Did it say that that inventory would be included? Is that right, Mills? Yeah.
Starting point is 00:25:03 Included, yeah. Okay, so. And 268 and FF and E. So they're asking one turn of SDE. Yeah. So my thought is, and I think this a lot, and this is how I thought as a buyer, they would take much less on a cash deal.
Starting point is 00:25:20 So let me just script that out. I bought a bunch back in the day. and what I did is I always came as cash. So I was fortunate enough to have some cash myself, and I used that to buy businesses. But then when I exhausted that, I had a network of people that I initially partnered with on deals and made them money.
Starting point is 00:25:44 And then instead of giving them equity, I'd just say, here, I'll just pay you 9% interest. And I had people that were handing me those checks more than I was willing to take them. Now, I couldn't have gone, I couldn't have gone to like, you know, 10 million, but I was able to go to multi-millions with that plan. And I could literally stamp my fingers and get the money. Coming as cash makes a huge difference. A million dollar asking price, and you got a buyer that's like, hey, I'll buy it and I'll close quickly, which quickly for me was like days, not weeks, I think changes the whole paradigm of what this thing is.
Starting point is 00:26:23 So when I see this say in a million, I'm thinking that you got a deal here at like $6.50. I may be wrong, but that's what I really think. I don't think that the furniture fixtures and equipment are worth $268. I have no idea if the inventory is worth $452, but I would guess that there's some stale stuff in there. So in my mind, I'm like already given those a haircut. And then I'm taking the purchase price and saying, hey, like, these people want to retire. I'm going to face them with a cash deal. and I'm going to tell them that I'll close
Starting point is 00:26:52 in a timeline that's faster than they were expecting. And then I'm going to take this business and figure out the manufacturing side and then turn it into a marketing machine. It's got a really high price point. You could do phenomenal on all the current, like, online modes that are available. You could do great on YouTube.
Starting point is 00:27:10 You could do great on meta. You could do great on TikTok. You know, I think that these things could do really well, and you would focus on having super high quality reels to show off with the product. And I feel like you could probably build a pretty big business. I think the play here, which I'm going to steal Bill's line because he had to drop off, but Bill's done this before to great success.
Starting point is 00:27:32 But I think you don't buy the inventory. You can sign it for them. And I mean, that's 50% of the purchase price allocation right there. And it's a great tool because if the seller's like, no, I would never do that. It's like, well, you just told me you don't really believe in the value of the inventory. you know, and you can do like, hey, we'll do consignment on the inventory for two years. And then after that, you know, we'll dispose of it for you or we'll give it back to and you can dispose of it or something like that. And you end up now, okay, now you're talking about $500,000.
Starting point is 00:28:05 You can service $500,000 worth of debt on 160, you know, is of SDE. I love it. And I love consignment. I try to prep every single person that comes into the inventory for consignment because I feel like there's no better sort of natural way to keep buyers and sellers on the same page post-close than a consignment arrangement. It keeps seller accountable. And on the buyer, it's their only supplier.
Starting point is 00:28:35 You know, like, so if they make this supplier that they have after closing angry, then that supplier might do something to harm their supply chain. So I think it's a really, like, natural way to kind of keep people honest. All right, Mills, what do you think? Brad's in. He already just told us how he's going to buy this deal. Yeah, and he told us this whole play, and I'm going to bid against him because I only have four kids, not five. But no, I mean, I think somebody who has a marketing mind, which I don't have when it comes to e-commerce, but I think you're right. Like, if you drive revenue to this thing, the purchase price dynamics and like what the business is today and has been for the last 50 years could be like a rounding error. I mean, this business could look drastically different, you know, in short order. So I think putting some marketing fuel, now, I think we talked about this before, but every single listing is like with a little bit of, you know, investment in marketing, like you can change this business. But that assumes that there's a playbook. The playbook is changing like every, you know, every hour at this point. So
Starting point is 00:29:43 you've got to, you've got to know, and this will require a very hands-on owner. to navigate. Yeah. I like it. It's one of the things I love when you see a deal with kind of bad marketing of the deal. Like a lot of times it means there's something under there you can go figure out and uncover the value like Brad. You said you did, which is pretty cool. Brad, before we close, how can people find you?
Starting point is 00:30:08 Yeah, quietlight.com. We have digital businesses for sale there. We have 15 advisors that do what I do, which is represent sellers. So I'm Brad Wayland. You can reach me Brad at Quietlight.com, Brad Wayland on Twitter, or we have 14 other advisors that we can pair you up with if you'd like to talk about buying or selling a business.
Starting point is 00:30:31 Yeah, sick. And if you are one of our listeners and you enjoyed this episode, do us a favor. Send the link to it to a friend and say, if you are interested in buying a business, you should watch this podcast or listen to it, and we'd really appreciate it. It would help us grow.
Starting point is 00:30:44 So thanks everybody for being here, Mills, Brad, See you soon. See you. Thanks.

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