George Fone welcome back to acquiring minds thanks for having me again well I appreciate it George it's been over a year and a half since our first interview you and I exchanged emails over the last couple weeks and you shared some of your progress with me you've been busy since our last conversation lots of progress lots of updates with more moves in the offing so we'll want to hear all about it but start us off George with a quick reminder of who you are and what it was that you acquired yeah sure so uh George vone I acquired a cleaning business in Nashville Tennessee in January of 2021 um and restructured and rebranded it into an apartment turnover service so we're strictly working with multif family communities 150 units plus and handling the entire apartment turnover so when one resident moves out and they're getting it ready for the new one to move in we go in there we clean we paint carpet clean handyman work kind of whatever needs to be done to get that unit ready and uh yeah it's been it's been going great over the past couple years and and give us 30 seconds or so on you a big part of our first conversation was the process of your search you did this a really systematic Outreach you were Target you targeted I don't know8 to 12 different cities you were doing it from the New York City area where you're from and you ended up in Nashville maybe I just took all the words out of your mouth fill in the what the gaps there yeah so uh I come from the the tech startup uh sales uh Community um so just working in BCB startups and a variety of sales capacities kind of saw a window during the pandemic to try to you know switch things up take advantage of the the changing world so I launched a search I did it myself with an in help of an intern targeted 400 cleaning companies across the southeast primarily and uh wound up getting a really good deal because it was the pandemic on newel's cleaning services yeah so of course that first conversation will be linked to in the notes but I highly recommend people go back and listen to it because it was a great uh we we really got granular about your proprietary Outreach method including even the messaging of the emails that you used that was really effective um I that really uh remember that the of that episode fondly all right George so open-ended how are things going if Mom calls you and says George you bought a business how's it going what would you say mom we've tripled the since I bought it say it again we've tripled probably more than tripled the revenue since I bought the business two and a half years fantastic um which is great um and so if you know I was thinking about this before our conversation so I spot it in in 21 and I think there are kind of three distinct chapters of of the business so far so 21 was really about sort of stabilizing the business and and learning uh how to run the business making sure that we could keep the lights on essentially uh 22 was all about growth so we grew like 120% in 2022 and the theme of 2023 so far has really been about um laying the foundation for this to be a much much bigger thing um and so our growth has been moderate in 23 that's that's been on purpose we we're only we're on target to grow about 20% this year compared to last year so um slower growth this year but I've been doing a lot of things to set us up for a nice 4year expansion uh starting in 24 so I'm really excited about the things that we achieved this year to set that up great well we're going to hear about these things but I will just say George 20% growth is great growth so if you know if 20% growth this year over last you consider modest growth uh things really are going well one of the topics in our convers our first conversation was exactly what you wanted to do Revenue wise I think in according to my notes Here in 2020 one you were at 1.1 million and you wanted to double that last year 2022 so what did 2022 end up at yeah we got to 2.3 in 2022 which was awesome we were super so that's over 100% growth over doubling y That's congratulations that's great and then another 20% this year which as I said anybody would be happy with 20% growth but you were actually kind of your growth was was a little bit restrained cuz you're focusing on uh investing in the business to grow into something bigger in the years ahead okay well one thing I want to do before we hear about some of this these these initiatives looking forward is it look back at the big initiatives that you did um as you became owner of the business and the big one was newes was not focused just on turnovers it was a it did turnovers but it also did I guess some cleaning did Airbnb cleanings and you made the Strategic decision to cut everything that wasn't turnovers out and just be a turnover shop uh has that proven to be a good strategic move on your part I think it's probably the the primary reason for that aggressive growth is because we we found a product Market fit in multif family with these turnovers that is very unique to at least the Nashville Market um so that was that was huge for us we've been we're developing a really nice reputation we talked about this on the last episode um where it's it's word of mouth and it's a tight-knit community here so our name is really getting out there and you know this 20% growth that we saw in 2023 we we we still are turning away some customers that don't fit our criteria and you know part of the work that we're doing this year to get ready for our expansion and the future is to be able to take on as many of those customers as possible it just wasn't possible with our current infrastructure we were basically bursting out the seams and I didn't want that to affect the quality for our existing customers so some changes need to be made yeah and the your typical customer are multif family projects and so when somebody comes to you and they're outside of that what type of what type of prospective client is that that you say no to now just out of curiosity small basically smaller projects Garden style gut projects sort of thing yeah smaller multif Family Apartments will probably stay away from um but really it's it's customers who you know they don't want to pay for the the quality of service that we offer so our price is our price and if if some customers try to negotiate that just we're in a fortunate position where we can say no sorry that's our price um so it's it's been a decent amount of that I'm trying to in 2023 I tried to choose quality customers so customers that pay on time that pay the price that we propos to them um and are easy to work with um those those are the customers that we we choose to work with people that fall outside of that criteria um we unfortunately said you know maybe we can try this again next year that's great to have that pricing power and that that positioning in the market to be able to really hold the line on your pricing and when you're delivering quality you can as you said you can cherry pick might be too strong but choose to just work with quality customers fantastic so kind kind of quality big gets quality and one of the things that we talked about in your first in our first conversation was your focus on the quality of the service you were delivering you we talked as if I recall around at some point wanting to actually have a quality assurance person visit turn that you guys execute so your crew will do the clean do the turn and then you'll have somebody come in after them and check the quality there were some techniques you were you I think you were experimenting with I guess all of that came to fruition what what's give us a picture of your kind of your quality assurance process yeah so we've built out the quality assurance team I'm doubling down on that um like you said if we have a quality service we can have that pricing power or more pricing power um so it's actually a really I'm really proud of this function of my business so the way that it works right now is we have on any given day two to three people out in the field doing inspections of the jobs um and they are also in charge of logging mistakes into our uh into our scheduling software which runs reports according to the contractors on who's making the most mistakes um we then review that report uh with our entire Contracting team um about three times a quarter or once a month so there's some kind of social you know aspect to it you see your name up there with kind of how many issues that you had of course they can the the contractors always can push back and let us know hey this wasn't my fault we take that very seriously we try to have their back but some of these things are pretty black and white especially when our QA team can provide pictures and then the repercussions to the contract factors is um if they ask me for a raise that's the first report I pull open and if you're towards the top of most mistakes no you're not getting that raise if you if you have no mistakes yeah absolutely you deserve $5 more dollars you know a job or whatever it is and then second the contractors with the least amount of mistakes get uh priority selection on their schedule so they get to say hey I want to work only at these properties I want Fridays off if you're good and you don't have a lot of mistakes we will absolutely tailor the schedule to make you happy if you're making all the mistakes like sorry you're going to have to take what we give you so that combination of really tracking them very closely and then rewarding and punishing them according to how many quote unquote mistakes they're making I mean we've just seen our quality and sort of the discipline and the thoroughness of our contractors really take off in 2023 so I'm I'm super proud of that function as you should be man that is really cool and yeah did you work out kind of that whole incentive structure through trial and error or I mean you you mentioned that your history was in was in B2B Tech sales and sales teams often have kind of really well measured tracked social pressure kind of you know everybody's name on a board uh systems in place to incentivize the sales team and um was were you bringing any of that to bear or was this just a blank slate and you kind of figured it out on your own it was probably an amalgamation of my experiences and um just intuition and things like that but um what was that famous quote show me the incentive I'll show you the outcome it's like we if we're not incentivizing our contractors in some way to do better well they're going to take the path of of least resistance if there are no repercussions and no rewards for for their job the quality of their job then how can we expect to have you know control over that um so it it was trial and error it's it's you know it's been two and a half years to kind of figure that out basically um so yeah it was just an amalgamation of different things and just out that way really neat the other initiative that I think that you were going to pursue was getting in with local property managers so obviously probably your primary customer is is the property manager the one who who is managing this multifam family uh building or multiple multif family buildings um and is is the one paying you and having you come in and do the turn and so so cultivating relationships beyond the ones that that were there when you came into the business was kind of sales initiative number one have you done that yeah absolutely still very involved with the greated Asheville Apartment Association they're still my you know primary source of of customers and I I try to actually you know volunteer and give back them so I'm not just kind of taking from that organization um the multif family industry there's you know probably 50 national players that have operations in multiple cities um and so you know if you get in and you get into their system and you start to meet their people and then kind of work your way up and meet the Regionals they do they bring you on to to multiple properties and um that's also what makes me excited about the expansion in the future is that if you know property management company a has properties in Nashville and we do a great job and have a great reputation in Nashville they're likely to have properties in another city and I in the future if I want to you know when I expand I'll be able to map out okay which customers do I have in in Nashville and where are their sister properties located and I could almost do like a concentration map of what the the best city for me to go to where I have you know Sister properties um so I'm starting to figure out how the the the property management industry works and and take advantage of of that um and so it's I'm I'm grateful that there's a um a structure to this industry it's it's like there is a structure to it um which makes it pretty easy to operate from a business development St standpoint and speaking of sales and Business Development again you came from a sales background to what extent are you leveraging your old sales skills uh in in the business now are you more operationally focused or are you still doing a lot of selling um it's it's a very different type of sale than than SAS it it doesn't it's pretty quick it's like you know come look at the property um put together a proposal and then they'll say yes or no basically so it's not like this you know in SAS it was like could be like a multi-year sales cycle so this is like a couple weeks um so might be a segue into uh the changes that are going on but I did hire a VP of operations and he's he's handling a lot of the the the sales stuff um I'll step in when I need to but mostly that's on him right now great well perfect segue tell us about we talked about Revenue tell us about headcount what give us a picture of what it was back when back in early 2002 when we talked and then what it is today so the uh when I bought the business the head there was one full-time employee she was the office manager she was the sister actually of the couple who sold me the business um in 21 I hired a QA manager and then in 22 I hired another scheduling assistant uh for the the office manager and then in 23 I hired a VP of operations so we're up to a four full-time headcount right now plus me four full-time plus you so five yep and then your actual cleaners are all contractors that was pretty clear from the way you you described your incentive structure correct and have you thought at all I'm sure you have about is there any incentive for you to bring any of those folks on as full-time that's a really great point and I I am I do have plans in 2024 probably January of 24 I think I missed it this season because we we are very kind of seasonal we we Spike about 20 to 30% um more average revenue in the months of May through September um so probably towards next year's busy season um we'll be building out a a carpet cleaning operation we have a carpet cleaner right now but it's not uh the equipment is it's basically a portable machine so we want to get one that is in a in a van which enables you to do buildings that don't have elevators so you can just run the hose out of the van up the stairs and so I I I will be hiring a full-time operator of that van um but I'm going to wait until next year's busy season to do that um the reason I want to hire that person is because right now we are um it's it's difficult to have somebody we our Carpet Jobs probably constitute maybe two full days a week of work but spread out across five days so it's hard to have a contractor work for only maybe four or five hours a day um and so next year if I hire a full-time employee I'll have him doing sort of half of that carpet cleaning work and then I'm going to train him to do one of our other services which is the handyman service um and so spread out the the work between the carpet and the handyman um and that should should yield a a pretty significant profit off of that one extra head count and when you talk about handyman service carpet cleaning so those are still fall those aren't adjacent Services those are still under the umbrella of turnover because sometimes when an apartment turns something's broken got to get a handyman in there to fix it some if there's a carpet got to clean the carpet so it's all still okay yeah and this this decision to hire a VP of operations that's always kind of a big decision is this somebody that if you wanted to obviously you're you still seem like you're eager to grow as much as possible we're going to get to to that but if you wanted to is this is this the fork in the road where you've kind of put in an operator and could step out and relax now if you wanted to and and and not be in the business really yeah yeah so his his name is Jeff he is he's awesome he is um he was a former customer actually so he was a re regional service manager so he knows all about the industry all about maintenance he's very knowledgeable when he speaks with our customers which they love and I love um and he's a really hard worker very intelligent very organized I absolutely could step away right now and leave him uh in the driver's seat and that's what I've been training him for because I do want I do want to do that um I do want to step out of the day-to-day operations of Nashville and you know he started in January and and it took him maybe 3 4 months to get up to speed and then I I really did step out of the day-to-day operations including sales which is great but you know I think there's one one of the things that I'm candidly struggling with is like you know putting somebody else in the driver's seat they not that I I lack H confidence in him but it's like how could I possibly expect somebody to grow this business as aggressively as I would if I was in the driver seat right so there's there's a bit of a give and a take with that um even though he is financially incentivized to grow um it's uh it's something that I just got to kind of see how that plays out but um hopefully that with that free time that'll open me up to be working on um other aspects of the business that will that will grow it um as aggressively as I want it to grow well that was that was kind of my understanding is that was what was happening I didn't mean to suggest you were going to step out of the business and not do anything that you were now going to basically focus on growth um but in theory you could if you wanted have basically a $2.5 million business uh and not have to work very hard at it yeah with this with the higher of this with of your operations guy of Jeff yeah absolutely I think that's where we're at right now for sure I mean that's that's a that's a tremendous Milestone um and how are margins in the business we're yeah we're we talked about this on the on the last podcast and I've I've been very disciplined with it so uh 50% cogs um 30% overhead and 20% profit margin and that's that's where we're sitting at least on the cruel basis collections is another another Beast to itself but on paper that's where we're at that's great George and you know you bought a business that was subm million dollars in Revenue so it was you you quote unquote bought small uh and you are anybody who buys small that what their goal is to do is to grow into something bigger uh and more stable and with a management layer and the caution there of course is the smaller you buy the more Fragile the business is the more you're going to have to be working in it um uh which is can be fine that may be what you sign up for or or and you're also you know one crisis away as the expression goes you're one crisis away from the business tipping over but if you buy small also you you get in at a pretty low entry point and that much more of the value that you add just comes to really to you so it can be financi very rewarding especially also if you buy small I I feel like I'm about to say something that might not be true but it feels true that it's easier to grow something small to kind of double a small business than to double a big business you know so and and that's exactly what you did I mean you doubled the business in one year um so I I I think yours is a story of somebody who bought small and it's gone exactly how you would want it to if you choose to buy small yeah I think I think I think that's exactly right and it's frankly it's gone better than I even expected it to go well one thing on it going so well that I do want to ask about there's another guy in our in the search space he also bought an apartment turn business and it his outcome was not uh was not nearly as positive as yours what do you think the differences are between your business and a business in this space that might not be thriving like yours is I don't know you know without without knowing the details I could probably come up with some theories I think in in this industry um at least we're doing so well here in Nashville because of the new growth explosion population growth um there's new multif family communities coming on online you know every month and so there's a uh a deficit in uh vendors compared to the demand for vendors in this city so you believe that a big part of your success or your growth is not just all the great things you're doing internally but you've got this incredible Tailwind of being in a growth Market Nashville where towers are going up like crazy 100% yeah I I do not want to take full credit for our success I'm I'm in the right place at the right time for this business yeah yeah you know you're the second guest to say this to me in two weeks johanes Hawk who whose interview hasn't yet aired bought a um artificial turf install business in Dallas and and we joke in the interview that he his kind of thesis of buying that business could be distilled to he was long Texas Texas is booming and long Turf long Texas long Turf and so his his business has grown tremendously because he's in a market that's that's growing just in terms of population Texas and then the adoption of turf is is also growing like crazy and and it has already grown in California already grown in Arizona is relatively newer in Texas so he could kind of look into the future just like maybe you could in other more mature markets like a Houston where apartment you know there's an established industry albeit Small industry of apartment turnover and where that in so so it's natural that that an industry is going to exist at some point and if you step into an immature Market you're the one to enjoy all of that growth and then B when it does mature you're the one there yeah the king there really interesting just a couple more questions for you um George the you mentioned in your email to me you've done a lot with tech you've built a you've built some custom stuff tell tell us about that yeah so this is um part of laying the groundworks for you know aggressive growth over the next 2 three four five years um I realized that we weren't going to be able to scale as efficiently just by adding headcount as we needed it I wanted to find a tech solution that would help us scale and keep our overhead down um so I scoured the market to for technology that exists uh to solve problems that we have with scaling um wasn't able to find anything that 100% met my needs I was able to get 60% there with some solutions so I decided to build my own or hire somebody to build my own um software for this business and it's a pretty big gamble so it could could flop maybe my customers won't use it um but we're going to see and if it works it's it should um basically negate our uh are are needing to purchase or sorry to hire um a new scheduling manager every time we you know meet a certain threshold with customers um so that's it's done it they I right after this call I have our final walk through with them before I launch it to our beta testers which I have a group of six property managers who are going to test it um so you know if everything works out then it should be um uh really kind of reducing our headcount um as we scale here and it's essentially I assume it's an app yep it's an app um so and the uh turnover kind of function of a property most uh property managers and and maintenance people have in their office literally a whiteboard with markers it's called a turn board and it has a dates and it has Services across the top and um basically they just say hey unit 20 221 is going to get clean painted this day clean this day and um you know the other services um and so that's 99% of my customers have one of those in their uh in their office so I said that should be digital why isn't that uh digital so effectively what we built is a digital turn board which has two-way communication between my scheduling software uh and the customer um and so they schedule their services right there on that turn board and it automatically goes onto our schedule for our our staff to approve or deny or change um and so the idea is to reduce um the time it takes for us to schedule a job down from about 4 minutes we'd like it to be under 30 seconds to to schedule a new job and and so to multiply this out and to understand the kind of aggregate savings that you stand to to gain here from four minutes to 30 seconds for scheduling a single job how many single job jobs are you orders are you receiving a day we're uh right now since it's still sort of the end of the busy season we're doing about 300 jobs a week oh wow wow so 60 a day so 60 times three and a half minutes is three hours uh yeah is is three hours three three hours and 30 minutes I guess um so significant a day yep a day and and that's that's the primary benefit I mean there's it's there's going to be a lot of ancillary benefits like our customers are going to be able to finally see that what their schedule is with us so there have been times where like they thought they scheduled something and we didn't show up and they call us all mad and it's like you didn't schedule that with us we go back we look through emails and texts and there's no information there well now everybody's on the same page there's one single source of Truth between the customers and our staff and then you know there's a data play there we're going to be able to get a lot more data from our customers we're going to be able to remind them of their past du invoice balances that we're going to be able to capture quality assurance issues that the customer reports instead of ones that we find and be able to automatically track that in our software so there's a lot we can do here that's super cool George and then and the benefit to them is because you said the risk to you is there won't be adoption and whenever there you know some uh new cool app comes out and then there isn't adoption for some kind of utilitarian purpose it's because the Target customer is just like i' just rather pick up the phone just easier for me but but you've built baked in an incentive here where you're I assume the pitch to them is look this is a digitization of your turn board so that's also just good for you that alone you know makes one of your own internal processes better if you just use our thing yeah yeah that's kind of your pitch to them probably that's my that's my pitch to them and I there's you know I think there's there's Pathways in the future without giving away too much for this to become even more valuable with them to automate some more of the stuff that they do on a day-to-day process but um if anything yet like they're at least going to have more visibility into the schedule they're going to have a way to organize themselves a little bit better um and then you know eventually there could be some more sort of autom automations that we build into the system system that helped them more and so I got to ask you said this is a big risk for you so how much does some building something like this cost I think I'd rather not say right now can I ask you above or below a certain number sure above or below 50 Grand below really cool George if anybody uh any of your listeners is interested potentially in the future for using this for their business if they feel like it it meets the needs of their business I'd love to to connect with them and explore that so you think that this is this is uh generalizable it can be used for anything where there's kind of scheduling involved like there's no reason why this is specific to apartment turnovers correct um I think I think it works really nicely right now for multif family so if you offer services to multifam um this this could you you you could use this yeah absolutely okay and and you said you did a pretty exhaustive search for software that would do what you needed because I assume there's all kinds of SAS products that service the multif family Property Management industry but no one has done this because it's it's one of those like many good ideas it's like now that you've articulated it it just seems obvious nobody had gone after this yeah there there's some similar there's some similar products out there I think the the pieces that I was missing when I did my search were um most of the most of the softwares that exist are for recurring services and we are reocurring Services um so it's not going to be the same service every week so there there needs to be um the ability to collect a bunch of different details for every job that's scheduled that was the first piece the second piece was there wasn't one that offered uh unique pricing on a customer basis in in an easy way um so each of our customers has different pricing so if I do a clean property a that clean is going to cost be a different price than at property B and so we built a really nice backend for our team in the office here to be able to manage our different pricing um for for different properties so those were the two two sort of unique pieces that we that we put into this one and it is an app so does it run did you build both iPhone and Android you you must have yeah well I want to start wrapping up here the other big um kind of part of your laying the foundation and and seeing where where how far and how big you can get this business how far you can take it how big you can make it is of course looking at other geographies so what you got going on there yeah so last time we spoke there was um I was deciding or I I think I told you frankly that I was um pursuing uh Acquisitions um and since we last spoke I decided to uh first test um a bootstrapped operation and in a new location um couple reasons for that one frankly it's not really fun paying the SBA every month so I'd like to do it without without a Lo um and then and then two the interest rates right now so obviously that makes it even more painful um but I think I think we can actually uh start a new operation in a new city and we're planning on doing that in 2024 in a city not too far away from Nashville um and so the idea is to have a VP of operations same Playbook that we have here in Nashville who handles sales hiring day-to-day operations and then plus a quality assurance manager so we can run the same Playbook with our quality assurance so it's a two twers operation in a new city and then we're going to build a shared services office in Nashville that handles the scheduling invoices HR legal Finance all that stuff so that's the idea and then of course the the cleaners themselves and the handyman carpet cleaner those are all uh contractors you only hire them as you need them and get and get business and get sales great and you wanted to hire a VP of operations rather than doing it yourself yeah yeah um doing it myself you know then I'm back in the business not able to work on the business um sure but just as your first your first acquisition attempt I wouldn't suggest you do it time and again but just because you know you're standing this up from scratch so there's some new stuff here to learn and as leader or as Visionary you know maybe you want to have hands on it sounds like I'm I'm I'm criticizing you I'm not I'm just thinking it through well I I'll still be heavily involved um in the new location and I'll probably you know have to camp out there for the first couple of months it's close enough that's you know within driving distance um uh but no the the the idea is first of all the person that I'm hiring down there I already know her she's she's a customer right now um and and uh she expressed to me that she wants to kind of get out of property management and she wants to you know get more money which are all great things and we have a great relationship so we kind of organically came to this conclusion together but um she's going to do better than I could down there I think um she has the network she's been in the industry for 20 years um and so I would I would say she would do as good or or or better than I would do down there so I'm going to let her I'm going to let her take and run with it that's exciting George didn't you say I think it was in our email exchange that your other VP of operations here in Nashville Jeff uh also was in property management was that what it was and wanted to get out yep so uh why is is there is there a trend here or or is that kind of a common pattern that people are in Property Management then want to get out and and and why is being in an apartment turnover is so different than being in Property Management I guess cuz you're not you're not dealing with tenants there's that which is nice so what what what's the story there I have a lot of empathy for my customers in Property Management it's a really difficult job and if any of your listeners have ever lived in a apartment community um you know there's there's sort of there's a lot that goes on behind the scenes to make sure that you're living experience is pleasant and it's really important you know the it's all numbers right so renewals are super important and people are pretty finicky so um it's very competitive to get um good property managers and they're under a lot of stress I mean they have they have people you know get very fiery with them when something is wrong with their home or with their community so they get a barrage of um you know angry residents uh that they have to deal with all the time people that don't pay so it's stressful and so I think there's some burnout in in property management and I like to hire people that come from Pro Property Management because who better to sell to new customers than one of my old customers who they understand our value proposition they believe in our the quality of our services and they know how much we care and that we do a good job um a lot of them like neither of these two people were formerly salespeople and like my VP of oper a in Nashville he he you know thought sales people were sleazy he you know he he never could see himself being a salesperson but he says that it's not really selling When You Believe in the service which is to me as his boss is like music to my ears so yeah so I think it's a a great place for me to pull from for these these VP of operations positions well George here in Northern Virginia there are uh lots of new multif family buildings going up so tempting proposition uh here seeing your success anything that we didn't touch on that we that you'd like us to I will I I just wanted to thank you I I think maybe you know you deserve some accolades and Kudos you've built an amazing Community um and and I get so much value I know a lot of the listeners do out of out of these weekly stories that you tell um I I've been an avid listener and will continue to be so thank you for doing such an awesome job oh man George that's really nice of you to say thank thank you um so much for for saying that and I'm of course it's deeply gratifying that it's been helpful to you especially as somebody who who's now got so much experience under his belt his acquisition is is far in the rearview mirror um that it continues to be valuable and relevant to you good deal sir well thanks for coming back on George good luck in your uh expansion uh experiment here and um yeah I'm I'm sure I'll I'll want to know how it goes so keep an eye on your inbox here sometime in 2024 sounds good I appreciate it and for your listeners who I I've talked to 20 or 30 of them who've just reached out to me so thank you everybody for reaching out and I love having those types of conversations so if you want to shoot me a email George george.com or just shoot me a message on LinkedIn happy to connect with anybody at whatever stage in the process you're in right now awesome take George up on that I hope you enjoyed that interview make sure you subscribe to the acquiring minds Channel below we are now publishing twice a week so tons of new interviews and stories to come stories that will help you along your own path to acquiring a business
Previous guest George Vallone comes back today to share his progress with Nuveldy's, a cleaning business he bought in Nashville in 2021. Nuveldy's was a sub-million dollar revenue business at the time; it is now 3 times larger and poised to launch in new markets. This is what it looks like when you buy small and it goes well. Listen for how George has taken the raw material of a quite small business, and implemented process, built tech, and hired management to establish a foundation from which he can grow into the next phase. ❤️ Enjoy this interview? SUBSCRIBE for more: https://bit.ly/42hLnN0 Chapters: 00:00. George's growth of the business 07:53. Incentive program George devised to ensure quality service 12:19. How George sees expansion based on his relationship with property managers 14:33. Sales process for apartment turnover services 15:25. Headcount growth 18:33. Hiring a VP of operations 23:58. The power of being in a growing market 25:35. Custom tech stack that he built 33:59. Expanding to new geographies organically rather than acquiring a business there 37:28. How difficult it is to work in property management CONNECT with the Acquiring Minds podcast, socials, etc. 🎧 Podcast on Spotify: https://open.spotify.com/show/2vZrl0u2wMHPEz1EZFw2dC 🎧 Podcast on Apple: https://podcasts.apple.com/us/podcast/acquiring-minds/id1569715379 👉 Get notified of new interviews: https://acquiringminds.co 👉 Follow host Will Smith on Twitter: https://twitter.com/whentheresawill 👉 Connect with host Will Smith on LinkedIn: https://www.linkedin.com/in/willsmithsf/ ABOUT Acquiring Minds Acquiring Minds is a podcast about buying businesses. Acquiring an existing business is an awesome opportunity for many entrepreneurs, and host Will Smith talks to the people who do it. New episodes 2x per week. #business #acquisitions #entrepreneur