In this episode, Jared Johnson sits down with Michael Seitz, CEO & Chairman of EarthWise Pet, for a wide-ranging conversation on entrepreneurship, franchising, M&A strategy, and what it really takes to build and scale a brand in a mission-driven industry.

Michael shares how growing up in a family business shaped his values, how almost becoming a dentist led him back to his entrepreneurial roots, and the hard-earned lessons behind buying 42 stores in a single day. Whether you’re a first-time buyer, seasoned operator, or just curious about franchising from the inside out—this one is packed with insight.

[00:07:30] — The power of asking better questions early in your career

[00:13:00] — Why unit-level economics are the heartbeat of franchising

[00:23:00] — Why buyers need to focus on trailing 12 months, not just historical EBITDA

[00:29:00] — What EarthWise looks for in new franchisees (hint: it’s not just the money)

[00:33:30] — Advice to 20-somethings considering their first acquisition

[00:36:00] — The #1 mistake most sellers make—and how to avoid it

[00:38:00] — What really keeps a founder going after decades in the game

• Learn more about EarthWise Pet: earthwisepetfranchise.com
• Find Michael on LinkedIn: Michael Seitz, CEO

If you have questions for Jared, visit: https://jaredwjohnson.com

DISCLAIMER: The views and opinions expressed in this program are my own and/or those of my guests. They do not necessarily reflect the views or positions of my employer.

In this episode of the Before You Buy or Sell a Business podcast, host Jared Johnson welcomes Mark Fleming, a specialist in business acquisitions and co-founder of Owner Actions.

Mark shares his journey from a background steeped in finance and trading to becoming an essential guide for investors at the critical 'search' stage of business acquisition. He emphasizes the challenging yet crucial initial phase of the acquisition process, a step often overlooked by many who are eager to jump straight to the deal-making stage.

The conversation delves into pivotal topics including the significance of selecting the right business based on industry experience, the unforeseen hurdles in business acquisition, and Mark's strategic use of reps and warranties insurance to mitigate risks.

They also explore the current economic climate, touching on the implications of tariffs and interest rates on small businesses. Mark underscores the importance of persevering through economic fluctuations and maintaining focus on core business values like customer service and cash management. The dialogue culminates in forward-looking insights on what buyers should anticipate in the evolving landscape of business acquisition.

HIGHLIGHTS

• The search stage in business acquisition is the most challenging yet vital, demanding more diligence than the deal-making phase.
• Specialized industry skills and management experience significantly determine success in business acquisition.
• Implementing strong accounts receivable practices and managing cash flow are crucial in the initial months post-acquisition.
• Reps and warranties insurance can safeguard against misrepresentations during business acquisitions.
• Tariffs and economic policies can impact interest rates and business dynamics but can be navigated with focused strategies.

You can get in touch with Mark at https://www.owneractions.com/

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If you have questions for Jared, visit https://jaredwjohnson.com/

DISCLAIMER: The views and opinions expressed in this program are my own and/or those of my guests. They do not necessarily reflect the views or positions of my employer.

In this episode of the "Before You Buy or Sell a Business Podcast," host Jared Johnson welcomes Jason Boehning, an HVAC industry professional who has successfully acquired two businesses over a short period.

The discussion delves into the intricacies of acquiring businesses, highlighting Jason's strategic mindset and the unique competitive advantage he enjoys due to his engineering background. This episode offers listeners invaluable insights into the pragmatic approach Jason adopted, which not only involved leveraging his skills but also focusing on relationship-building and effective transition management.

Jason's journey started from a small Texas town and led him to Texas A&M University, where he studied mechanical engineering. His diverse career path in the HVAC industry served as a solid foundation when he made the decisive move to business ownership. Through engaging dialogue, this episode presents a comprehensive look at his process of acquiring and managing HVAC businesses.

Key themes explored include the importance of having a solid plan, the advantages of maintaining good relationships with employees during acquisitions, and the strategic insights driving successful business growth in a competitive market.

• Jason leveraged his HVAC design and engineering knowledge to strategically acquire two businesses, positioning himself effectively in a competitive market.
• Key factors in successful acquisitions include having a solid operational and financial plan and maintaining focus on long-term goals amidst a dynamic business environment.
• The importance of maintaining key employees during a business transition, as these employees often hold valuable customer relationships and operational knowledge.
• Acquiring existing customer bases through business purchases can be a more effective growth strategy than relying on extensive digital marketing efforts.
• Managing working capital efficiently is critical in the HVAC sector due to varying cash flow cycles, especially when dealing with commercial clients.

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If you have questions for Jared, visit https://jaredwjohnson.com/

DISCLAIMER: The views and opinions expressed in this program are my own and/or those of my guests. They do not necessarily reflect the views or positions of my employer.