When a $2.8m Acquisition Is More Like Zero-to-One

Wait, but what changed, Dave?

Well, I think what I came to conclusion is all deals have hair. It's how much you can deal with that. So I was looking for the perfect business, right?

Like, the perfect business does not exist. And if they do, they're not selling that business. Why would they? Right? So I think I finally came to the conclusion that I can look for 10 years and I'm never going to find the perfect business.

I have to get comfortable with hair on some businesses and what I can do to get mitigate that risk. And so ultimately, I decided the red flags that I saw were mostly around family. I thought they were.

I could mitigate those risks. And so that's when I came back to that business.

Painful to hear you say that now, Dave.

It is, yes. We'll get into that. Right.

Okay, so tell us, give us the bullet points on the business, please.

Okay, so we closed in November of 2023. 2.8 million. The EBITDA was 750. At least the EBITDA we thought we were getting and went through the SBA process. We actually went. Went through two different SBA banks.

So little lesson in here is some people would argue just work with one bank. I would argue, if you're going through the process, work with a couple until you're up to closing. And some banks, you know, some brokers would tell you, don't do that.

Some banks would tell you, I would absolutely do that. Because we. We were used to that, and we didn't do that at first. And it kind of cost us some time and probably cost us a little bit of interest. One of The.