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Build Rapport and Close the Deal w/ Benjamin Huang. | The Kevin Choe Show Ep. 18
Manage episode 487651087 series 3670519
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In this episode of The Kevin Cho Show, I sit down with Benjamin Huang to dive into his journey in business acquisitions, focusing specifically on his experience with a laundromat. We discuss the creative financing strategies he used to acquire the business, the operational changes he implemented to boost revenue, and the importance of building strong relationships with sellers. Benjamin also shares insights into the laundromat's financial performance, the challenges he's faced, and his plans for scaling the business and creating a positive community impact.Takeaways:
- Real experiences are the best way to learn business acquisitions.
- Building rapport with sellers is key to successful acquisitions.
- Creative financing can greatly reduce acquisition costs.
- Understanding a business’s operations is essential for its success.
- Revenue growth can be driven by strategic marketing and operational efficiency.
- Long-term leases are crucial for a stable business, like a laundromat.
- A solid business plan is essential before taking on any acquisition.
- Scaling often requires hiring the right team and delegating tasks.
- Community impact is an important part of business operations.
- Education and mentorship empower the next generation of entrepreneurs.
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