Dan Spracklin acquired a septic pumping business doing $1M annually, then grew it to $3M and margins to 30% in 2 years.
Key points from Dan's story:
- Gray Brothers was a septic pumping business founded in 1929, run by Dan Spracklin's father-in-law.
- It was generating about $1m per year in revenues from 22,000 customers. Septic pumping companies typically have margins of 10-15%.
- Dan & his wife added adjacent septic services to Gray Brothers and improved operations. Within 2 years, they'd pushed revenues to $3m and margins to 30-35%.
- Septic pumping is a great lifestyle business for existing owners: low customer churn, high barriers to entry, recession proof.
- It's difficult for entrepreneurs to start a new pumping businesses, so best to buy out a retiring owner if you can find one.
Reach Dan Spracklin at:
Official episode page & full show notes at AcquiringMinds.co:
