These people buying companies without ever having worked in that industry are nuts. No wonder so many businesses fail

That was actually valuable, it's definitely useful hearing stories of how owners turned it around

Great story. It's good to know that buying a business doesn't always lead to destroying your life.

Yes, telling everyone you are out of cash would cause everyone to quit.

So he bought an honest hvac business, then he wanted to convert it into one of those scam hvacs where the techs push the sale of a new unit for 14k for a popped capacitor.

Hit us with a success story, love it! Appreciate the details in these stories great work!

I like how HE makes all of the decisions and suddenly WE run out of cash and WE fail or WE are going under.  No dude.  It's YOU that failed.  No-one else.

I went through something similar and have 4 warnings for someone thinking of buying a business.
1) Never buy a business you don't have years of experience in.
2) Don't trust the Sellers claims or financials.  Do your own EXTENSIVE Due Diligence.
3) Don't trust the Brokers.  Don't trust your Broker or the Seller's Broker.  They just want that big commission, they don't care about you.
4) Don't put down any earnest money regardless of what the Brokers are asking for.  Lots of people lose that money if the deal falls through.

Appreciate the honesty in this! My husband and I started out looking at buying an existing business a couple of years ago, but ultimately chose to start a home services franchise instead. For us, having the systems, support, coaching, and a proven framework while still getting to build the business ourselves was the right fit. It’s definitely not easy, but it’s been a really good path for us.

I have noticed the HVAC businesses going to the seedy style of saying you need a whole new system rather then just fixing what is wrong. I personally have experienced this on a blown capacitor and told the tech to replace the capacitor because I tested it myself and it showed the wrong capacitance. He was pissed he got a customer that knows he's lying. Industry used to be honest and up front.

I genuinely have been loving hearing these stories. You will be successful doing this, just keep going!

I have been in HVAC for over 10 yrs...first few yrs, kinda slow at times. Now, non-stop/extremely busy...I know my job is very secure...because I give 100% every work-day.

Why are HVAC and other service companies always the target business?  These businesses are complex.

Thanks for diving right into the stories

Happy to hear Nathan pulled through

Thanks for sharing Nathan's tory Jed!!

From what I've been told HVAC is a very profitable business, but it's also back-breaking labor that most people just can't handle, especially in intense hot weather.

Finally we got a happy ending! 😂 I watched all the last videos and didn’t read the title of this one, and when I heard the story turn around I was so happy for the guy.

My sons could have gone to college. The oldest is making 63k a year with no debt, a wife and 4yo son. No college debt. He put himself out there after high school. He was good at everything he tried. He's 27. He's currently on vacation with his family. It can be done.

Love the story and takeaways. Taking "Chips off the table" and "All eggs in one basket" are some of the learnings that people hear, yet don't fully grasp the impact when the "Black Swan" event occurs. Wise operators gained that wisdom through PAIN to feel the lesson. Hopefully through your efforts you can educate more folks about the downsides as it isn't always rosy. I'm an optimist yet learned from Mike Tyson, "Everyone has a PLAN until they get PUNCHED IN THE FACE"!