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Episode 137 - LIES! Laundromats are NOT Passive Income - The Acquisition Chronicles Series w/guest Keira Hamilton
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In this episode of Unpolished MBA, we continue the Acquisition Chronicles series to uncover the realities of small business acquisitions. Monique Mills is joined by guest co-hosts Jed Morris and Kinza Azmat to share stories, insights, and lessons from the trenches of Entrepreneurship Through Acquisition (ETA).
Hosts sit down with Keira Hamilton, a former high school English teacher turned entrepreneur, who shares her unexpected journey into small business ownership. Keira opens up about buying, operating, and selling a laundromat, and the hard-earned lessons she learned along the way.
From the myth of "passive income" to the challenges of hiring and managing people, Keira provides raw, transparent insights into what it really takes to own and run a small business. She also discusses the importance of building rapport with sellers, why storytelling matters in SBA loan applications, and how luck, preparation, and mindset played key roles in her success.
If you're considering buying a business or navigating the world of SBA loans, Keira’s wealth of experience and advice is a must-listen. Plus, she shares her current work as an SBA loan broker and her mission to debunk myths and provide realistic, actionable guidance to aspiring entrepreneurs.
Key Topics:
- Transitioning careers and translating skills to a business in another industry.
- Debunking "passive income" myths and the hands-on nature of laundromat ownership.
- Navigating SBA loans and tips for first-time buyers.
- The importance of rapport and trust in buying and selling businesses.
- Understand that Sellers can easily withhold or hide information from Buyers and how to navigate that.
- How Buyers should engage with Sellers and develop a relationship.
- Perspectives from an SBA loan broker with advice for Buyers in small business acquisitions.
- Buying 'too much' as an inexperienced professional and the risk to Lenders.
AND MORE!
Whether you’re a buyer, seller, or just curious about small business acquisitions /Entrepreneurship Through Acquisition (ETA), this episode offers valuable insights to help you navigate the journey with confidence.
- Tune in every Tuesday from Dec 3 2024 through Feb 25, 2025 for real stories and hard lessons from the trenches of small business acquisitions.
Follow Monique Mills
LinkedIn: https://www.linkedin.com/in/moniquemills/
Bio Website: https://moniquemills.biz/
TPM Focus - Strategy Firm for Startups and SMBs: https://tpmfocus.com/
Follow today's guest: Keira Hamilton
LinkedIn -->https://www.linkedin.com/in/keirahamilton/
YouTube -->https://www.youtube.com/@Keira_Hamilton
Email: keira@arenacommercialcapital.com
Guest Co-Hosts:
Follow Kinza Azmat
Company --> thechiefrebel.com
Book --> https://www.thechiefrebel.com/book
LinkedIn --> https://www.linkedin.com/in/kinzaazmat/
Follow Jed Morris
Company --> Sunset Coast Partners
LinkedIn --> https://www.linkedin.com/in/jedmorris/
Newsletter --> https://stillsearching.beehiiv.com/subscribe
Become an Unpolished MBA Guest: https://unpolishedmba.com
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