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Bill D’Alessandro (@BillDA) and Mills Snell (@thegeneralmills) talk about a CDL (Commercial Driver’s License) Training and Education Center in the state of Texas. Most students who earn their Class A CDL and graduate will go on to work in over-the-road (OTR) trucking. This indicates that they travel greater distances, log more miles, and typically drive across the United States. As a result, their wages are the highest of any class of truck drivers.
We will be discussing important key points such as the current situation of CDL Drivers, transferability, and the current line of business competition.
Company: CDL Training and Education Center
Location: Texas
EBITDA: $973,000
Asking Price: $2,400,000
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Thanks to our sponsors!
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Show Notes:
(00:00) - Introduction
(00:31) - Our Sponsor is CloudBookKeeping
(02:33) - Deal & financials: CDL Training and Education Center
(05:54) - What do we like about this deal and the business model?
(07:41) - Why is this a double-edged sword?
(09:49) - Why is the location so important for this deal?
(11:34) - How do you source new clients for this business?
(14:54) - What is the current situation for CDL drivers?
(17:32) - What do we like about the capital expenditures and maintenance around the assets?
(18:24) - Are there concerns when thinking about owner transferability?
(19:32) - How do we think about the market and competition?
(20:41) - What would Bill investigate to scale this business?
(22:50) - Let’s discuss the Build vs Buy options!
(26:58) - How important is maintenance?
(29:39) - What is our verdict for this deal?
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