In this episode of The Kevin Choe Show, I dive into the world of business acquisition, focusing on off-market deals and the strategies behind direct mail marketing. Joined by Abraham Gray and Mona, we explore how I source business listings, the importance of building rapport with sellers, and how tools like Data Axle help us target specific industries. We discuss the unique methods we use to stand out in the market and engage potential sellers. I share some of my most innovative strategies for direct mail marketing, emphasizing creativity in outreach. Additionally, I break down effective follow-up communication and the importance of targeting the right demographics. We also cover financing options, including SBA loans and seller financing, and I offer insights on navigating the complexities of business acquisition.Takeaways:
- Abraham acquire about 80% of my businesses off-market.
- Direct mail campaigns are essential for outreach.
- Data Axle is invaluable for sourcing businesses.
- Building rapport with sellers is key in my negotiations.
- Eye-catching designs increase my response rates.
- Verifying business information is crucial for success.
- Complimenting sellers helps open up conversations.
- SBA loans have specific qualifications.
- Creative direct mail significantly enhances my engagement.
- Follow-up is essential; many leads come months later.
- Older demographics tend to respond better to direct mail.
- Targeted outreach boosts success rate.
- SBA loans can cover a substantial portion of a business purchase.
- Seller financing is a valuable option.
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