How and Why to Buy an Electrical Business | Fred McGill Interview

For 7 years, Fred McGill built an online real estate brokerage from scratch. This immersion in real estate meant he'd worked with many tradespeople as his vendors. So when he set his sights on buying a business, the trades were an easy choice. You'll hear how he zeroed in on electrical services, developing a thesis on an industry often overshadowed by its cousins HVAC and plumbing. We also go deep on licensing and hiring — and how Fred has tackled them both. Here is Fred McGill, owner of Bray Electrical Services.

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00:00:00. Fred's entrepreneurial journey
00:05:38. Choosing acquisition after zero to one
00:13:37. Real estate vs. business acquisition
00:21:45. Searching for the right business
00:32:16. Fred buys an electrical business
00:41:22. Growth strategies and marketing
00:48:43. Seller prepared for the sale
00:55:49. Transition and team reassurance
01:03:26. Hiring and identifying talent
01:08:57. Hybrid pay scenario
01:17:01. Testing marketing channels
01:23:02. Future plans and potential acquisitions

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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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