Acquisitions Anonymous - #1 for business buying, selling and operating

In this episode the hosts talk about a $1.2M Texas firewood delivery business that turns arborists’ unwanted logs into revenue with potentially near-free raw materials—but extreme seasonality, questionable inventory accounting, and financing challenges make the deal structure everything.

Business Listing – https://www.bizbuysell.com/business-opportunity/profitable-35-year-old-firewood-business-dfw-texas-region/2485893/

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.

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What if the raw material for your business was basically free? In this episode of Acquisitions Anonymous, the crew breaks down a long-established firewood business serving the Dallas–Fort Worth, Texas market. The listing shows approximately $1.25M in revenue, $375K–$376K in seller discretionary earnings/cash flow, and a $1.2M asking price—roughly 3.2x earnings. The deal also includes a stated $80K of inventory and $315K of furniture, fixtures, and equipment, with seller financing potentially available.

The fascinating part is the supply chain: arborists and tree-service companies may actually want somewhere to dump unwanted logs, potentially giving the firewood operator its core raw material for little or no cost. But free wood doesn't mean free profits. The business still has to process, split, season, store, move, and deliver a heavy product, while managing significant seasonality. The hosts also question how accurately the $80K of inventory is being measured, what condition that inventory is in, whether the business uses kiln drying, and how much value really exists in its customer and supplier relationships.

The biggest debate is whether this is actually worth buying—or whether a landscaping or tree-service company should simply build the operation itself. The hosts discuss the financing difficulties of acquiring a highly seasonal business and explore creative seller-financing structures, including profit-sharing arrangements that could shift some of the seasonal risk back to the seller. Will McCurdy of Bedrock Quality of Earnings also joins the discussion to give an accounting perspective on inventory, cash flow, seasonality, and the financial diligence a buyer would need before closing.

Sponsors:
Quiet Light Brokerage specializes in helping entrepreneurs buy and sell businesses with experienced operators as brokers. They offer a free valuation clarity call to help owners understand what their business is worth and how to increase its value before selling. Learn more at https://quietlight.com/

Bedrock Quality of Earnings — Buying a business without verifying the financials can lead to expensive surprises. Bedrock Quality of Earnings combines experienced Big Four leadership, operator-backed expertise, and AI-powered analysis to help buyers validate earnings before closing. Learn more at https://girdley.com/bedrock.

Key Highlights:
- $1.2M asking price: Approximately $1.25M in revenue and $375K–$376K in seller discretionary earnings/cash flow, putting the asking price at roughly 3.2x.
- Potentially free raw materials: Arborists and tree-service companies need somewhere to dispose of logs, creating a potentially valuable "trash-to-treasure" supply chain.
- Inventory is a major diligence question: The listing claims $80K of inventory, but accurately valuing piles of firewood—and determining how much is properly seasoned and sellable—could be difficult.
- Seasonality complicates financing: Revenue may fall dramatically during the off-season while payroll, insurance, utilities, storage, and other expenses continue.
- Creative seller financing could unlock the deal: The hosts discuss profit-sharing structures where the seller receives a percentage of profits until reaching the agreed $1.2M purchase price.

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In this episode the hosts talk about a $2M Orange County flight school generating roughly $950K in SDE—and how SBA financing plus aircraft depreciation could potentially make the buyer’s effective cash investment close to zero.

Business Listing – https://www.bizbuysell.com/business-opportunity/high-profit-fully-operational-flight-school-academy/2422161/

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.

Looking to build a professional website in minutes? Try Wix: https://wix.pxf.io/c/6898629/3115214/25616?trafcat=template

HubSpot is the backbone for how businesses scale without chaos. Try them out here: https://go.try-hubspot.com/OeG9Vr

Subscribe for more episodes: https://www.youtube.com/@AcquisitionsAnonymousPodcast?sub_confirmation=1

Subscribe to our Newsletter: https://www.acquanon.com/newsletter

Sponsors:
FRANZY - Thinking about buying a franchise instead of an independent business? FRANZY is a free platform built for acquisition-minded entrepreneurs who want to explore franchise ownership without broker bias. FRANZY matches you with franchise opportunities based on your capital, goals, and lifestyle—and includes free coaching from experienced franchise operators. If you're exploring ETA but want a structured, system-driven alternative, check out https://www.franzy.com/ 

Mercury - Thanks to Mercury for partnering with me! Mercury gives founders powerful banking, cards, and financial tools built to help businesses operate smarter. Learn more and get started at http://mercury.com/

Inzo Technologies — When you acquire a business, you inherit its accumulated IT and cybersecurity problems too. Inzo helps acquisition entrepreneurs evaluate technology risk during due diligence and manage cybersecurity, IT, and voice after closing, including a complimentary IT risk audit of your target company. Learn more at https//:www.inzotechnologies.com/eta

This week, the Acquisitions Anonymous crew reviews a fully operational flight school in Orange County, California, listed for roughly $2 million with $1.8 million in revenue, $950K in SDE, and approximately $900K of aircraft/equipment inventory. The school offers private and commercial pilot training, airline pilot tracks, discovery flights, and aviation camps, while benefiting from a major industry tailwind: continued demand for trained pilots.

But that attractive 2x-ish headline multiple raises a big question: what’s the catch? The hosts dig into aircraft maintenance and replacement CapEx, instructor shortages, the seller being the chief pilot, industry-knowledge requirements, and whether the reported SDE reflects the true economics of maintaining the fleet. They also discuss whether an SBA lender would finance the deal and how aircraft could potentially receive different financing treatment based on useful life.

Then the conversation gets especially interesting: Jordan walks through a hypothetical acquisition using an SBA loan plus first-year depreciation deductions on the aircraft. Under his simplified example, a buyer putting roughly $300K down could potentially generate tax savings comparable to—or even greater than—the initial equity investment. The hosts also cover depreciation recapture and why tax benefits shouldn't distract a buyer from the underlying operating risks. As Jordan emphasizes in the episode, buyers should consult their own tax professionals before relying on this strategy.

Key Highlights: 
- $2M asking price, $1.8M revenue, ~$950K SDE for an Orange County flight school with roughly $900K of aircraft/equipment inventory.
- Flight instructors may be the real bottleneck: instructors are building hours themselves and can quickly leave for airline jobs.
- Aircraft CapEx could change the economics dramatically: maintenance, useful life, and eventual fleet replacement need to be understood before trusting the advertised cash flow.
- SBA + depreciation creates a fascinating structure: the hosts model a scenario where tax savings from depreciating the aircraft could roughly offset a buyer's down payment.
- The catch: the seller is also the chief pilot, the listing says industry knowledge is required, and depreciation recapture plus a personal guarantee mean this isn't actually a risk-free "free business."
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In this episode the hosts talk about buying two established Beaufort, South Carolina restaurants generating roughly $6.3M in combined revenue for a ~$2.3M asking price—and why the leases, shared management, seasonality, and limited growth potential could make or break the acquisition.

Business Listings:
— https://www.bizbuysell.com/business-opportunity/saltus-river-grill-premier-waterfront-restaurant-opportunity/2534360/

— https://www.bizbuysell.com/business-opportunity/hearth-wood-fired-pizza/2536726/

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.

Looking to build a professional website in minutes? Try Wix: https://wix.pxf.io/c/6898629/3115214/25616?trafcat=template

HubSpot is the backbone for how businesses scale without chaos. Try them out here: https://go.try-hubspot.com/OeG9Vr

Subscribe for more episodes: https://www.youtube.com/@AcquisitionsAnonymousPodcast?sub_confirmation=1

Subscribe to our Newsletter: https://www.acquanon.com/newsletter

Sponsors:

Inzo Technologies — When you acquire a business, you inherit its accumulated IT and cybersecurity problems too. Inzo helps acquisition entrepreneurs evaluate technology risk during due diligence and manage cybersecurity, IT, and voice after closing, including a complimentary IT risk audit of your target company. Learn more at inzotechnologies.com/eta

Acquisition Lab — Buying a business can be the biggest financial decision of your life, and Acquisition Lab gives acquisition entrepreneurs a community, experienced advisors, education, and deal-search tools to help navigate it. Join a free live roundtable at acquisitionlab.com/roundtables and tell them Acquisitions Anonymous sent you.

This episode starts with Saltus River Grill, an established waterfront restaurant in the heart of downtown Beaufort, South Carolina. Saltus has been operating since 2003, generates roughly $3.55M in annual revenue, and occupies a prime Bay Street location for about $14K per month in rent. The restaurant has an asking price of roughly $1.1M and benefits from an established brand, waterfront setting, upscale menu, tourism traffic, and more than two decades of operating history.

Then the deal gets more interesting: Michael and Mills discover that Hearth Wood Fired Pizza, located in the front of the same building, is also for sale. Hearth generates approximately $2.8M in revenue with an asking price of about $1.2M. Put the two businesses together and you're looking at approximately $6.3M in combined revenue for a ~$2.3M asking price, with combined rent of roughly $26K per month. The hosts debate whether the restaurants should effectively be treated as one acquisition given their proximity and likely operational overlap. Plums, another restaurant under the same ownership group, isn't confirmed to be for sale but creates an important diligence question around how integrated the group's employees, management, vendors, and other resources really are.

The biggest risk may be the leases. A buyer needs enough lease runway to finance the acquisition, operate it successfully, and eventually have something transferable to the next buyer. Michael and Mills also dig into Beaufort's seasonality, staffing challenges, the apparent middle-management layer, landlord relationships, and the limited opportunity for explosive growth. Their conclusion is that these appear substantially more transferable than the typical restaurant businesses—but the buyer needs to make the economics work without assuming heroic growth or a huge terminal value.

Key Highlights:
- $6.3M in combined revenue: Saltus and Hearth are being offered for roughly $2.3M combined.
- The lease is critical: Long-term lease terms and renewal options could determine the value of the entire acquisition.
- More transferable than most restaurants: Both businesses have established brands, long operating histories, and a built-out management structure.
- Shared operations matter: Staffing and management may overlap with Plums, making employee retention and operational separation key diligence items.
- Limited growth upside: The hosts believe this deal should be underwritten around steady cash flow rather than aggressive revenue growth.
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In this episode, the team analyzes a $20.5 million wholesale aquarium livestock distributor, debating whether its unique logistics, proprietary operations, and recurring customer base justify one of the highest acquisition multiples ever featured on the show.

Business Listing – https://www.bizbuysell.com/business-opportunity/leading-aqua-culture-wholesale-distribution-co/2526116/

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.

Looking to build a professional website in minutes? Try Wix: https://wix.pxf.io/c/6898629/3115214/25616?trafcat=template

HubSpot is the backbone for how businesses scale without chaos. Try them out here: https://go.try-hubspot.com/OeG9Vr

Subscribe for more episodes: https://www.youtube.com/@AcquisitionsAnonymousPodcast?sub_confirmation=1

Subscribe to our Newsletter: https://www.acquanon.com/newsletter

Sponsors:
Quiet Light Brokerage specializes in helping entrepreneurs buy and sell businesses with experienced operators as brokers. They offer a free valuation clarity call to help owners understand what their business is worth and how to increase its value before selling. Learn more at https://quietlight.com/

FRANZY - Thinking about buying a franchise instead of an independent business? FRANZY is a free platform built for acquisition-minded entrepreneurs who want to explore franchise ownership without broker bias. FRANZY matches you with franchise opportunities based on your capital, goals, and lifestyle—and includes free coaching from experienced franchise operators. If you're exploring ETA but want a structured, system-driven alternative, check out https://franzy.com/ 

This episode examines a fascinating California-based wholesale aquaculture distribution company generating approximately $20.2 million in annual revenue and $2.5 million in seller's discretionary earnings, listed for $20.5 million. The business specializes in distributing live aquarium fish, corals, and marine invertebrates to pet stores, with decades of proprietary operating procedures, specialized logistics, long-term supplier relationships, and meaningful regulatory barriers to entry.

The discussion explores whether this is one of the rare businesses that may actually deserve a premium valuation. The conversation dives into the operational complexity of transporting live marine animals, why sticky wholesale relationships create a durable moat, and how proprietary production capabilities and specialized infrastructure separate the company from traditional distributors.

The team also explores potential growth opportunities, including direct-to-consumer expansion, drop-shipping partnerships, market size, competitive positioning, inventory management, and whether this could be an exceptional search fund acquisition despite its unusually high asking multiple.

Key Highlights:
- Asking Price: $20.5M on $2.5M SDE (roughly 8x SDE)
- Specialized live aquarium fish, coral, and marine livestock distribution business
- Strong competitive moat built around logistics, proprietary operating processes, and supplier relationships
- Potential DTC and drop-shipping opportunities could unlock additional growth
- One of the most bullish premium-multiple businesses ever discussed on the podcast
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In this episode the hosts debate whether a legendary guitar pedal brand with loyal fans, sold-out products, and valuable IP is a hidden bargain—or an unsellable retirement business weighed down by inventory and operational risk.

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.

Looking to build a professional website in minutes? Try Wix: https://wix.pxf.io/c/6898629/3115214/25616?trafcat=template

HubSpot is the backbone for how businesses scale without chaos. Try them out here: https://go.try-hubspot.com/OeG9Vr

Subscribe for more episodes: https://www.youtube.com/@AcquisitionsAnonymousPodcast?sub_confirmation=1

Subscribe to our Newsletter: https://www.acquanon.com/newsletter

Sponsors

Acquisition Lab, the leading community, platform, and fund backing serious acquisition entrepreneurs. The education and deal-search tools are free, and a real board of advisors will talk you out of a bad deal as fast as into a good one. There's no clock and no pressure. See what it's like: sit in on a free live roundtable at acquisitionlab.com/roundtables, and mention Acquisitions Anonymous!

Bedrock Quality of Earnings
Before buying a business, make sure the numbers actually hold up. Bedrock Quality of Earnings combines experienced financial diligence with modern AI tools to help buyers avoid expensive surprises. Learn more at https://bedrockqe.com.

This week on Acquisitions Anonymous, the hosts review the sale of Boomerang Looper, a well-known guitar pedal company that's been around for nearly three decades. The asking price is just $99,000 for a business producing approximately $312,000 in annual revenue and $75,000 in cash flow, complete with trademarks, intellectual property, manufacturing files, customer lists, and ecommerce storefronts.

At first glance, the valuation looks almost too good to be true—but a deeper look raises important questions. The flagship products are completely sold out, much of the remaining inventory appears to be generic accessories, and the retiring owner may have stopped reinvesting in manufacturing. The discussion explores whether buyers are acquiring a recognizable niche brand with tremendous upside or inheriting an operation that has already begun winding down.

The panel debates inventory strategy, financing challenges, customer demand, and whether this business could realistically scale beyond its current size. It's a fascinating case study in buying product businesses where the intellectual property may be far more valuable than the current operations.

Key Highlights:
- Legendary guitar pedal brand listed for $99K with approximately $75K SDE.
- Includes trademarks, manufacturing schematics, PCB files, Shopify, Amazon, eBay, and Reverb stores.
- Flagship products are sold out, raising questions about production, working capital, and owner motivation.
- Hosts debate whether the remaining inventory has meaningful value or is mostly low-end generic products.
- Financing may be difficult despite the attractive multiple because current operations appear to have slowed significantly.
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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!
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For inquiries or suggestions, email us at contact@acquanon.com