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Michael Girdley (@Girdley) and Matthew Ford discuss a Medical Equipment Supply Company in NJ. Aside from checking how this business works, we will also consider looking for areas of improvement, if there are any. Matt will also review important points to keep in mind before purchasing insurance to avoid pitfalls. Mike also talks about the idea of monopsony, so let's find out if this deal is really that bad.
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Thanks to our sponsor!
Live Oak Bank - Whether you’re looking to build, buy or expand your business, let the team at Live Oak Bank be your financial guide. With Live Oak, you get a partner who believes in your success and is willing to take the journey alongside you. We provide small business loans tailored to your goals.
Fuel the growth of small businesses across the country; bank with Live Oak Bank.
You can contact Heather Endresen, Director & Founder at heather.endresen@liveoak.bank. Mention this podcast in the subject line and ask her about office hours to get in touch.
*Live Oak Bank is the #1 SBA 7(A) Lender. The data supplied by the SBA reflects 7(a) highest dollar volume during FY 2021.
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Show notes:
(00:00) - Introduction
(00:46) - Our sponsor is Live Oak Bank
(01:53) - Deal & Financials: Medical Equipment Supply Company
(04:02) - How does this deal work?
(07:19) - How to stay profitable in this business?
(08:23) - Is the business made to fail?
(14:12) - What’s so funny about this deal?
(15:43) - Is this deal really that bad?
(16:27) - Did the revenue numbers and the brokers help the deal?
(19:31) - Why is a background check really important before buying a business?
(20:41) - The Monopsony Concept
(22:10) - What is the "Spirit Halloween” concept?
(24:25) - What should be considered when taking out insurance?
(26:30) - How important is it to choose the right insurance?
(28:10) - Do we love this deal? Can this deal be improved?
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