Taking a Single-City Acquisition Nationwide

It depends on, you know, there, there's different ranges, but I think the Stanford study, that's, that's in the realm.

So to, so a 35% IRR, people are going to do have to do their own math, but that is really a great, great return. So congratulations, Edward, and life changing for you. You had said to me that selling the process of was the hardest thing you've ever done in your life.

Not operating, not buying, not, you know, whatever else it might have been.

And none of it is easy, by the way. I'd say it's all hard. There's no doubt. Right. Yeah.

So, so what was so hard about it?

So I think this is true with any, you know, call it business seller, especially when you have an emotional attachment to the business to the team to the industry, you know, whatever it may be. You know, when you're selling a business, you really need to keep it going on a clip. You need to spend a lot of time as part of the sales process, you know, preparing for it, responding to requests, etc.

And also, you know, finding the right buyer in the end to match the vision for what you want and so on. It's really threading the needle and it's, it's longer than you probably would expect. It is definitely more emotional than you probably would expect.

And it gave me a little sense, I'll say, a big sense of what it's like to be a seller. Even the founders, and I was not the founder, but even the founder of a business and it's their baby that they are bringing to market and having to answer hundreds and maybe even thousands of questions about and also perform, make sure they're performing and make sure the business is performing throughout that.

It's, it's difficult, there's no doubt and certainly we got it done. And, and I think, you know, also then, you know, clearly I was staying on. Right. We're well positioned for sort of the next phase as well.

Without cutting corners and such to do it. It's really hard. It's really hard.

Did you go to market or did the private equity group come knocking?