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- New Podcast: How This Entrepreneur Failed At A Turnaround Acquisition And What He Learned Through The Experience
New Podcast: How This Entrepreneur Failed At A Turnaround Acquisition And What He Learned Through The Experience
An interview with Dustin Fusillo
Hello SMB Deal Hunters!
I’m excited to share a new interview with Dustin Fusillo, an entrepreneur who acquired a turnaround mechanical company focused on ATM parts and services.
Unfortunately, Dustin wasn’t able to turn around the business, but he did find a soft landing and is now running a larger operation under Grant Victor as General Manager for NextATM, an ATM machine, service, and solutions provider.
Dustin shares with us his honest and resilient story of how he navigated through the challenges of buying and operating a turnaround business and what he could’ve done differently.
Today's issue is sponsored by SMB Diligence, the platform I helped start for matching business buyers with vetted legal counsel and Quality of Earnings providers.
WORK WITH ME
Want me and my team to work with you to find, finance, and acquire a million-dollar cash-flowing business in the next 6-12 months? Apply to join SMB Deal Hunter Pro.
Here's what one member shared this past week:
INTERVIEW
In the interview with Dustin, we discuss:
How Dustin’s first deal fell apart after he already moved across the country (and why you can’t get emotionally invested)
The reality of buying a smaller business with $300-$400K in SDE
How broken deal fees prevented Dustin from spending enough on diligence for the deal he ultimately ended up closing on
How Dustin found a soft landing for the company as it was bleeding money
The problem with turnarounds
State of the ATM industry
What Dustin’s doing differently the next time around
PRESENTED BY SMB DILIGENCE
Here’s Why You Shouldn’t Skip Due Diligence…
A friend of mine put a business under LOI and asked me for my advice.
I recommended he contract a 3rd party due diligence partner to rebuild the company's P&L from scratch.
Turns out their EBITDA was off by 2x 😳
Enter SMB Diligence.
SMB Diligence is the platform I helped start for matching business buyers with vetted diligence providers, from M&A lawyers to Quality of Earnings providers.
Their network of experts has worked on hundreds of small business transactions (including many from the SMB Deal Hunter community).
COMMUNITY PERKS
• Want to invest passively in SMB acquisitions? Get access to investment opportunities.
• Get a personal introduction to my preferred SBA 7(a) lender, non-SBA lenders, Quality of Earnings providers, or legal counsel
• Raising capital for your deal? I’ll connect you with investors from the SMB Deal Hunter Community.
• Interested in selling your business? I’ll help you connect with buyers from the SMB Deal Hunter Community.
THAT’S A WRAP
Want me to interview you for my podcast? Hit reply.
See you tomorrow with some new deals!
-Helen Guo
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Disclaimer
This publication is a newsletter only and the information provided herein is the opinion of our editors and writers only. Any transaction or opportunity of any kind is provided for information only; SMB Deal Hunter does not verify nor confirm information. SMB Deal Hunter is not making any offer to readers to participate in any transaction or opportunity described herein.