Today's episode is a deep dive into a type of business you've probably seen on Biz Buy Sell, but scrolled right past nail salons. Truc Nguyen grew up around nail salons. She is Vietnamese and like many immigrant communities in America, hers carved out a niche for itself in a particular industry, nails.
Acquiring Minds
Rolling Up an Industry with 1.5x Multiples
Excerpts · 462 segments · ~1:55:30 long
Short excerpts only — hear the full conversation on the publisher's site.
So part of Truc's motivation to become an entrepreneur in the nail industry was a desire to reconnect with her culture and her history. But that alone wouldn't be enough. Nail salons also had to be good businesses.
Truc knew that they could be, and you might be surprised. One thing about nail salons is that they sell for very low multiples. We're talking 1.5x. So if you can marry low entry price with operational improvements that grow EBITDA in a highly fragmented industry with dozens of targets in every market across the US Then execute that playbook programmatically, well, that starts to look like a…
Not to mention the business buyer fit here. Truc is a Harvard educated Vietnamese immigrant, seemingly the perfect person to engineer a consolidation while also relating to the owners and technicians who predominate in the industry. See what you think here is Truc Nguyen, Owner of TTN Ventures.
In case. You missed it, earlier this week, Team Acquiring Minds released something that we're really excited about the ETA Database. The ETA Database is a searchable, filterable archive of every Acquiring minds episode, over 450 episodes of acquiring Minds, cataloged and filterable by industry, by acquisition model, by geography, and more.
So many of you have asked over the years whether there's a way to search the episode back catalog by industry or deal type or other criteria, and there hasn't been. Well, now there finally is the ETA Database. Check it out at etadatabase.com Attorneys Bill Barlow and James David Williams return for an office hour session focused on negotiating working capital.
Bill and James David will cover tips to get over common negotiating deadlocks on this topic, as well as common constructs for unique working capital situations like long term projects, subscription based revenue, and how to do all of this while staying. In compliance with SBA guidelines. The webinar is Negotiating Working Capital and it is this coming Tuesday, May 26th noon Eastern.
Link to register is right at the top of this episode's show notes or on the Acquiring Minds homepage. Acquiring Minds Co. Welcome to Acquiring Minds, a podcast about buying businesses. My name is Will Smith.
Acquiring an existing business is an awesome opportunity for many entrepreneurs and on this podcast I talk to the people who do it. If you ask owners in the ETA and search community which insurance broker provides highest quality work, great outcomes and has a practice dedicated to searchers and acquisition entrepreneurs. One name comes up again and again.
Oberle. Oberle Risk Strategies has worked with hundreds of searchers over nearly a decade and is in fact led by a two time successful searcher, August Felker, which makes Oberle a specialty insurance brokerage for searchers by a former searcher. And if you've got a business under Loi, Oberle will provide complimentary due diligence on that business's insurance and benefits program. An easy no…
To know August and the team at. Oberle to take advantage. Check out oberly-risk.com that's o b e r l e-risk.com link in the notes. Truc Nguyen welcome to Acquiring Minds.
Thank you for having me Truc you.
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