• How to Buy & Transform a 120-Year-Old Manufacturer

  • Feb 20 2025
  • Length: 1 hr and 44 mins
  • Podcast

How to Buy & Transform a 120-Year-Old Manufacturer

  • Summary

  • Register for the webinars:

    • Using a Sale-Leaseback to Buy a Business - Thu Feb 20 - https://bit.ly/3QjGZYR

    • First 100 Days: Survive & Thrive as a New Business Owner - Wed Feb 26 - https://bit.ly/4hCxC2G

    Subscribe to the new podcast, Meeting of the Minds:

    • On YouTube
    • Spotify & Apple links coming soon!


    Lucas Philips bought a niche manufacturer with $200k SDE, aiming to make it an ecommerce/DTC business. It's working.

    Topics in Lucas’s interview:

    • How his startup mindset influenced his acquisition
    • Buying a super-niche manufacturer at age 23
    • Motivating staff (or not) with $3/hr raises
    • Learning to fire and trust his instincts
    • Modernizing the business
    • Advantages of buying a business young
    • Anxiety issues post-acquisition
    • How bolt-ons have lengthened the J curve
    • Expanding into the Porsche market
    • Looking ahead to using AI

    References and how to contact Lucas:

    • LinkedIn
    • lucas@newarkauto.com
    • Newark Auto
    • Benjamin Ross Group
    • Ben Jasper on Acquiring Minds: Factory Life: Buying a Manufacturer with $1m SDE
    • The Founder's Dilemmas: Anticipating and Avoiding the Pitfalls That Can Sink a Startup

    Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

    • Matthias Smith of Pioneer Capital Advisory

    Get a complimentary IT audit of your target business:

    • Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcher

    Get a free review of your books & financial ops from System Six (a $500 value):

    • Book a call with Tim or hello@systemsix.com and mention Acquiring Minds

    Connect with Acquiring Minds:

    • See past + future interviews on the YouTube channel
    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Edited by Anton Rohozov
    Produced by Pam Cameron

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