whatupny

Multi-unit pest control franchise owner, acquired through acquisition. I (infrequently) share what I'm learning. Dad x3

[whatupny @jsunquist]

I quit my W-2 job in August 2021. After ~16 months searching with many highs and lows, I'm proud to announce that I closed on my first business acquisition! 🥳

Existing Franchise ✅
Seasonal business ✅
Zero cash inflow until March 😬✅
Personal Guarantee (3x) ✅

[whatupny @jsunquist]

@chriswandrew You got that right!! 🦟🔫

[whatupny @jsunquist]

Based upon my market research (aka morning run), there is no slowdown in residential home services in Monmouth County NJ.

Roofers, sidings, gutters, landscaping, etc all active on Saturday!

[whatupny @jsunquist]

Best part about owning a seasonal business? Traveling in the off-season!

[whatupny @jsunquist]

@ShowMeYourCIM Were the other terms similar (e.g. rate)? Or was seller note the main differentiator.

If a 35% standby note is required, I hope it was the best rate ...

[whatupny @jsunquist]

@Sam_Rosati Switched from ADP to Gusto a year ago... Super happy with the change and I'll never go back!

[whatupny @jsunquist]

@MisterMarket0 -Redoing routes at 6 am bc someone called out at 530 am
-customer accused us of breaking their window (it was actually his dog)
-discovered flat tire at the office at 730am

And it's only Wed!

[whatupny @jsunquist]

I own a "boring", service based, small business.

Rest assured, there is nothing boring about the every day knife fight that is SMB ownership.

[whatupny @jsunquist]

@HarrisonW_IV Nothing! I much prefer this

[whatupny @jsunquist]

If you can't respond to leads in under 24 hrs, you should stop paid social ads. You're just wasting money!

[My take as a SMB owner who is waiting for a call back but keeps seeing the same social ads....]

[whatupny @jsunquist]

@pjmcgeary What % of your budget was PPC vs LSA?

[whatupny @jsunquist]

@Ryan_C_Morris @FranchiseBob @MUnitfranchisee @fran_cowboy @TRUmav @FranchiseMnA Required/minimum marketing spend.

More annoying when the marketing options are limited

[whatupny @jsunquist]

@braden_live @BoilerPlateCPA Not an expert, but you can use your 401k to acquire a business in a ROBS transaction. There's pros and cons to this approach, but it's one way to leverage your 401k for acquisitions.

[whatupny @jsunquist]

@jaq_neco They are under "Chick-fil-A, Inc." - Click Details and the FDDs are located there

[whatupny @jsunquist]

Finally the phone rings and I've been on hold for 30 mins and counting....

[whatupny @jsunquist]

I've called the NJ Dept of Taxation 10x in the last 2 days about a $200 payment that I sent to the wrong department.

Every time I call the recording says "Due to high call volume we can't take your call. Try again another time" and then it hangs up.

[whatupny @jsunquist]

Any SMB owners switched from ADP to Gusto (or know someone who has) and would be willing to speak with me?

[whatupny @jsunquist]

@BillDA @markbrooks Did they give you a direct answer after that??

[whatupny @jsunquist]

@Fundof1 Nicely done! Your hard work and consistency is paying off

[whatupny @jsunquist]

@jorgesearches Depends on the account.... This is a particularly bad one. T-Mobile was awful as well

[whatupny @jsunquist]

How long does it take to transfer a lease with Ford Motor Credit?

2.5 months
20+ phone calls
3 physical signatures required via the mail
$135 transfer fee

And it's still not done yet! They assure me this is the last set of documents to sign....