Buy & Build a Trash Business to a $4.4m Exit | Patrick Norris Interview

You ever listen to Acquiring Minds and feel discouraged that you don't have an MBA or a background in finance? This episode is for you. Patrick Norris went from Marine, to garbage man, to manager of a local trash company, to... buyer of his own trash business. He bought a small one, just $625k in revenue. A little family business with a burned-out owner. Patrick bought it (for a song, by the way), grew it, and sold it for $4.4m five years later. And oh by the way, he'd also generated $1m for himself in the meantime. Phenomenal outcome for Patrick. Also, see what you think of the trash business. We spend a lot of time just learning the industry, which was a joy. Here's Patrick Norris, former owner of Mr. Trashman.

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00:00:00. Patrick’s background
00:04:30. Patrick decides to buy a business
00:11:08. Patrick finds the right business
00:19:14. Operating the trash business
00:24:23. What’s hard about the trash business
00:31:24. Municipal vs private trash collection service
00:40:12. The cycle of startups and acquisitions in the waste industry
00:49:44. Terms of the deal
00:58:55. Churn in the trash business
01:05:36. Challenge of hiring for a demanding job
01:14:44. How he grew his business 4x
01:23:05. Patrick exits his company
01:29:35. The one thing he would do differently
01:32:22. Advice for searchers
01:40:51 Post-sale reflections and future aspirations

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ABOUT Acquiring Minds
Acquiring Minds is a podcast about buying businesses. Acquiring an existing business is an awesome opportunity for many entrepreneurs, and host Will Smith talks to the people who do it. New episodes 2x per week.

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