How I Started, Bought and Sold 6 Service Businesses (In $500k to $3M EBITDA Range) | Robert Lombardi Interview
How I Started, Bought and Sold 6 Service Businesses (In $500k to $3M EBITDA Range) | Robert Lombardi Interview  
Podcast: Buyers and Builders
Published On: Mon Nov 25 2024
Description: Selling the very first flooring business for $30k turned into a career of starting, buying and selling B2B, B2C service businesses.A total of 6 different companies in different industries: 2 residential flooring companies 2 commercial flooring companies 1 restoration company 1 commercial cleaning companyMy conversation with Robert Lombardi, the founder of Lombardi Group.He’s sharing a journey of making plenty of mistakes and falling on his face MORE than anyone would like to admit (and this being a major part of the journey and something he’s STILL grateful for).Enjoy.Show notes:00:00:00 - Intro00:00:19 - Early days and making first $50,00000:06:03 - Building a flooring business, targeting commercial clients vs B2C00:20:09 - In the flooring business, B2C is good, but B2B is much better00:22:33 - There is no recurring revenue in the floor covering business00:31:56 - Structure in buying and investing in companies00:37:29 - Sale of two companies at the same time00:43:49 - Didn't know about the roll up strategy 3-4 years ago00:53:59 - Earn trust by giving away free business leads01:03:37 - A restoration company, a roofing company and 2 plumbing companies will be bought nextFollow Mikk/PrivatEquityGuy on Twitter: https://x.com/PrivatEquityGuy⁠⁠⁠Robert on Twitter: ⁠⁠⁠https://x.com/roblmakeithappeThis podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.