SAF 2014: Acquiring Minds Want to Know: When, Why and How to Buy a Shop
Acquisition is a logical and effective growth strategy for florists that are looking to add stores and the two presenters have certainly made it work for them. Skip Paal took his 80-year-old struggling flower shop and transformed it into a thriving, seven-store chain, wholesale floral business and trucking operation. And, since 2010, relative industry newcomer Kyle Brown has purchased eight stores in four different states.
The information they shared was helpful to anyone interested in purchasing an existing flower shop. They covered pretty much everything that can go right or wrong at each stage of the process – a process they documented and made available to SAF members. This wasn't standard textbook stuff, it was real world experience from two smart entrepreneurs that had been through it themselves.
The material was also very important to shop owners that were interested in selling. By learning what buyers look for in an acquisition sellers received valuable insight into making their own stores more valuable.