Yeah. Okay. Okay. So you got Valentine's Day and Easter, but they're small. And then you got fall, broadly Thanksgiving, Christmas, big seasons, big holiday season and just season overall and then also football season. So it's a big. Those last three months of the year are big.
Acquiring Minds
Never Worked Harder, Never Been Happier
Episode
Excerpts · 389 segments · ~1:27:22 long
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05:17 Gina's background and layoffs09:45 How the deal came to her11:59 Emotional decision to pivot21:03 Business history and seller motivation27:46 Wholesale model and product lines32:27 Financials and reinvestment plan39:08 Deal structure and terms48:28 Transition and licensing audits1:05:45 Growth channels and custom jewelry1:19:10 Offshore manufacturing and tariffs
Big for you. Got it. Okay, so can you share the numbers of the business and then let's get into how you structured the acquisition.
Yeah, so at the time that. So I evaluated three years worth of financials. It was unique because it crossed over Covid.
So that, that was something that was difficult. I didn't really know how much of the dip in sales was really a result of COVID or something else that. That did make me nervous.
But the reality is during COVID college football games ceased. So there were no games, there was no minimal jewelry purchased. But you know, prior to.
So in 2019, they were right around the 650 mark of revenue. And then sales. Right. Sales dipped to about half of that in 2020. You know, their, their P and L showed higher. I'll call it revenue because of the PPP loans, but.
Right.
I eliminated those for my analysis. Yeah, that, that. Yeah, it doesn't count. So. But by 2022, their sales were almost back up to that 600 level, just over the 600 level.
So I kind of felt like that that was a good number as kind of like a base. So.
So they had almost fully recovered. That is a very good sign for the business. Okay, can you share what profitability was from this?
600 ish. 6. Between 6 and 650 of revenue. How many, how much earnings did that generate?
I. Their. Their SDE was about 200.
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