So sure. Well, and the only reason I'm underlining that is in case people wonder why you're on acquiring minds. If you already had a business, is this just you acquiring a business from the base of your. From the base of an existing business?
Acquiring Minds
Never Worked Harder, Never Been Happier
Episode
Excerpts · 389 segments · ~1:27:22 long
Short excerpts only — hear the full conversation on the publisher's site.
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
And I think it's fair to characterize this as that was the seedling of a business, but it only really became a business with the acquisition that we're going to hear about today. So anyway, that was what my interest there and also it tells the story of how you were introduced to the business you did buy. So carry on with the plot, please.
So because of that business, I attended a wholesale show where I met the owners of Seasons Jewelry and just I hit it off with them. It's the product that I was selling is collegiate jewelry and I'm a really big college football fan. So we were able to talk about just all things college football and just had a connection, just really, really liked them, continued to purchase from them.
Like I said, my best selling products were from Seasons jewelry. And in 2023, in May, I placed an order, nothing huge. And the owner reached out to me and said, you know, hey, we're looking to exit the business and was wondering if you'd be interested in buying.
And I was dumbfounded. Literally speechless. Asked if I could just call him back, matter of fact, because I didn't know how to respond.
And then in less than two months, the deal closed and I was the owner of Season's Jewelry.
Well, that was a quick, quick assimilation of the offer and moving forward from speechless to owner in two months. That's pretty good. Okay, just a couple of little details here. Okay, so your original little e commerce business you would buy, you were, you're not a jewelry designer maker, manufacturer, so you would go to a trade show where the wholesalers of jewelry were and choose products that…
On your website to direct to consumers individual units on your website. Okay. And these, these trade shows where this sort of business to business between jewelry manufacturers and jewelry and sellers happens is kind of key to the timing of the entire business really as, as we'll hear. So that's why we're giving it some time.
And, and so their business then would have been something buying their business represented, if you will, vertical integration. You were buying sort of further upstream in the value chain of jewelry manufacture and sale, Right?
Correct.
Okay. All right. Okay. So before we start really unpacking this, talk to us about the decision to, to, to do it. Like why did you do it? Give us the whole emotional journey of the decision.
Yeah, so the timing was actually impeccable. I had, this was post Covid, so I was working from home, really reflecting on so much of what I really wanted to do with my, the rest of my career and just being home and spending more time with my children really underscored how much I was missing by commuting into an office and not being home for a large portion of my weekday. And so that really…
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