Evan is a 27-year-old management consultant making good money in corporate America.
But when he looked at people 5, 10, 15 years ahead of him, he didn’t want what they had: more work for slightly more money, but no real freedom or purpose.
He’d tried an Airbnb side hustle that worked, but it wasn’t scalable enough to replace his W2 income.
Then he discovered business acquisitions, joined Acquisition Ace, and closed on a $1.6M janitorial company in under a year.
Here’s the full breakdown 👇
Finding The Deal
Evan started by looking at car washes and laundromats (the typical beginner businesses you see online) but quickly realized he could move faster with guidance.
After joining Acquisition Ace, he initially focused on smaller deals that would just replace his income, but eventually scaled up to mid-sized opportunities.
He found a commercial cleaning company in northwest Ohio serving industrial facilities - factories, warehouses, and plants that need 3-5 nights per week of cleaning to meet legal cleanliness standards.
The business model was perfect:
- Recurring revenue
- Recession-resistant
- And the previous owner ran it passively while focused on his executive W2 job
(Inside Acquisition Ace, members learn how to identify businesses with strong fundamentals like recurring revenue and recession resistance. Want to learn how to evaluate deals, too? Book a call with our team here.)
The Deal Breakdown
Purchase price: $1.6M (real estate excluded, now leasing with option to buy)
Cash flow: $485K-$540K annually (pre-debt service)
SBA loan: 90% financing
Seller note: 5% ($90K on 2-year standby, then 8-year term)
Down payment: 5% out of pocket ($80K)
By structuring the seller note on full standby for two years, Evan reduced his required down payment from 10% to just 5%.
After debt service, he’s projecting $200K-$300K in annual cash flow (more than doubling his management consulting income from day one).
What He’s Doing Now
Evan kept his full-time job and is splitting his time between corporate work and growing the business.
The team was already in place and excited for new leadership, and they’re actively asking for changes and improvements.
He’s also under contract on two more businesses with partners, using the skills he learned during his first acquisition.
His plan?
Grow this business to $400K-$500K in cash flow over the next few years while building a portfolio on the side.
Evan’s Key Lesson
“You only need one deal to change your life.”
Evan faced a 6-month delay waiting on IRS approvals, lost another deal two weeks before closing after months of work, and had moments of serious doubt.
But he stayed consistent, kept pushing through obstacles, and closed anyway.
The process taught him the same skills he now uses daily as a business owner:
- Managing relationships
- Solving problems
- And staying resilient when things don’t go as planned
Ready to close your first deal?
Join the Acquisition Ace community where over 2,000 members are learning to find, finance, and close deals just like Lindsay.
👉 To see if you’re a good fit, book a call with our team here.
Onward,
— Ben Kelly
