🎧 Tune in to learn the realities of entrepreneurship through acquisition, from the search process to surviving economic uncertainty in the first year.
Laurie Barkman sits down with Aashay Kumar, owner of Tri-Form, Inc. Aashay shares his story of leaving a corporate career to buy an existing manufacturing business. He demystifies the process of entrepreneurship through acquisition. Listen in as Aashay reflects on his acquisition journey including stealth search process, securing an SBA loan, diligence misses, and the ups and downs of the first 15 months of ownership.
💬Quote from Aashay Kumar:
"Take the approach of being a learner from day one. Always ask questions. Always do more research than you think you have to, and be humble throughout the process." ________________________________________________________________________
Key Takeaways:
💡 Why buy vs. start: The value of buying a business with positive cash flow, especially if you don't have a specific problem you are trying to solve.
👥 Independent search vs. search fund: Why Aashay chose an independent path to maintain full ownership and control, rather than being diluted by a search fund.
💰 How to finance the deal: A look at navigating SBA loans, negotiating with multiple banks, and using a seller financing note to structure the deal.
🏦 The diligence "misses" to watch for: Aashay shares what he overlooked, including the condition of the building and smaller assets like a company truck.
🤝 "Fit first, financials second": Why the cultural fit and relationship with the prior owners (and their family members in the business) was a critical, non-negotiable part of the deal.
This Show Is Sponsored by The Business Transition Sherpa®
📣 Write a Podcast Review: ratethispodcast.com/successionstories
Connect with Aashay Kumar:
LinkedIn: www.linkedin.com/in/aashaykumar
LinkedIn: https://www.linkedin.com/company/tri-form-inc/
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
My Favorite Murder with Karen Kilgariff and Georgia Hardstark
My Favorite Murder is a true crime comedy podcast hosted by Karen Kilgariff and Georgia Hardstark. Each week, Karen and Georgia share compelling true crimes and hometown stories from friends and listeners. Since MFM launched in January of 2016, Karen and Georgia have shared their lifelong interest in true crime and have covered stories of infamous serial killers like the Night Stalker, mysterious cold cases, captivating cults, incredible survivor stories and important events from history like the Tulsa race massacre of 1921. My Favorite Murder is part of the Exactly Right podcast network that provides a platform for bold, creative voices to bring to life provocative, entertaining and relatable stories for audiences everywhere. The Exactly Right roster of podcasts covers a variety of topics including historic true crime, comedic interviews and news, science, pop culture and more. Podcasts on the network include Buried Bones with Kate Winkler Dawson and Paul Holes, That's Messed Up: An SVU Podcast, This Podcast Will Kill You, Bananas and more.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com