Michael and Heather break down an Estonian e-commerce business selling lighting kits for LEGO sets, questioning its steep 7x EBITDA price tag amid thin margins, one-time buyers, and China sourcing risks.

Business Listing – https://www.bizbuysell.com/Business-Opportunity/lights-for-lego-game-of-bricks/2322004/

Welcome to Acquisitions Anonymous – the #1 podcast for small business M&A. Every week, we break down businesses for sale and talk about buying, operating, and growing them.

💼 This episode is sponsored by Verivend — the platform built for independent sponsors and private market investors to move faster and cut out friction. From raising to returning capital, Verivend streamlines investment management with instant, secure payments and automatic reconciliation. It’s like Venmo for capital calls, deployments, and distributions — all with no transaction limits. Learn more at https://www.verivend.com

📈 Also sponsored by Acquisition Lab – Your fast-track to business ownership. Get hands-on support, world-class resources, and join a top-tier community of acquisition entrepreneurs. Schedule your free consultation at https://www.acquisitionlab.com and mention Acquisitions Anonymous!

This week, Michael Girdley and Heather Endresen dissect a fascinating e-commerce deal out of Tallinn, Estonia: a business that sells lighting kits designed to supercharge LEGO displays. With $3.7M in annual revenue and $500K in EBITDA, it’s priced ambitiously at $3.5M — roughly 7x EBITDA — raising plenty of red flags.

Key Highlights:

- Asking $3.5M on $500K EBITDA (~7x), 13% net margins
- 20% customer return rate suggests mostly one-time buyers
- Likely sourcing from China, possible drop-shipping under de minimis rule
- Geopolitical & tariff risks could hit future margins hard
- Hosts conclude it’s a cool niche, but overpriced — fair multiple closer to 3.5-4x

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Connor and Heather break down a $2.6M Manhattan boutique stretching franchise, debating its “passive” claims, premium valuation, and if the trendy concept will stand the test of time.

Business Listing – https://www.bizbuysell.com/business-opportunity/network-of-3-passive-boutique-wellness-centers-in-nyc/2308977/

Welcome to Acquisitions Anonymous – the #1 podcast for small business M&A. Every week, we break down businesses for sale and talk about buying, operating, and growing them.

💰 Sponsored by Capital Pad
Looking to buy a small business or back someone who is? Capital Pad is a game-changing marketplace that connects acquisition entrepreneurs with capital. With standardized terms and governance, it makes investing in small businesses simple and transparent. Visit 👉 https://www.capitalpad.com and tell them Acquisitions Anonymous sent you!

In this episode, Connor Groce and Heather Endresen take over the podcast to dive into a unique franchise resale: a network of three boutique assisted stretching studios in Manhattan, listed for $2.6 million. With gross revenues of $3.6M and cash flow of $536K, the business boasts an executive management model, minimal COGS, and strong recurring membership revenue — all packed into under 1,500 sq ft per location.

Key Highlights:

- Asking price of $2.6M on $536K cash flow, with $3.6M in revenue
- Three boutique stretching studios across Manhattan with heavy foot traffic
- Less than 1% COGS, but dependent on 1:1 labor model and younger staff
- Established in 2022 under a fast-growing wellness franchise brand
- Potential SBA financing hurdles for wealthy buyers due to liquidity rules
- Connor admits he underestimated the business model back in 2019
- Both hosts worry about concept longevity vs. paying a premium multiple

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In this episode, Connor and Heather break down a $10.9M Primrose School franchise in Dallas-Fort Worth that includes real estate, debating financing hurdles, valuation quirks, and who the ideal owner really is.

Business Listing - https://www.bizbuysell.com/business-opportunity/top-dfw-suburban-primrose-school/2362698/

Welcome to Acquisitions Anonymous – the #1 podcast for small business M&A. Every week, we break down businesses for sale and talk about buying, operating, and growing them.

💼 This episode is sponsored by Verivend
Verivend is the only platform purpose-built for independent sponsors and private market investors who want to move faster and eliminate friction. From raising capital to returning it, Verivend combines investment management and secure, instant payments—all in one place. Capital calls, deployments, and distributions work like Venmo: one-click, real-time transfers with no transaction limits and automatic reconciliation.

Whether you’re raising a single deal or managing a full fund, Verivend gives you the speed and confidence to execute. Explore Verivend at verivend.com.

📈 Acquisition Lab – Your fast-track to business ownership. Get hands-on support, world-class resources, and join a top-tier community of acquisition entrepreneurs. Schedule your free consultation at https://www.acquisitionlab.com and mention Acquisitions Anonymous!

Episode Summary:
Connor Groce and Heather Endresen dive into a rare Primrose School franchise resale in the Dallas-Fort Worth suburbs. With an asking price of $10.9 million, this deal combines a thriving childcare operation grossing $3 million with SDE around $1.3 million, plus the value of owned real estate—though frustratingly, the listing doesn’t break out how much the property is actually worth.

Key Highlights:
- Asking price of $10.9M for the business + real estate in DFW
- Generates $3M in revenue and around $1.3M SDE, though real estate value isn’t broken out
- Pre-approved for SBA financing with 10–15% down, but likely needs a split 7(a) and 504 loan
- High-end clientele thanks to Primrose’s strong brand, but tough to expand without building a new location
- Discussion on sale-leasebacks vs. owning, and how this impacts valuation and cash flow
- Connor & Heather debate whether it’s right for a typical buyer—landlord-heavy investment, very hands-on, not ideal for a passive owner
- Primrose’s reputation demands owners deeply involved in the community, often with young families themselves

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• Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
• Do you enjoy our content? Rate our show!
• Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.

For inquiries or suggestions, email us at contact@acquanon.com