After 4 Years of Part Time Searching, Success | Will Gano Interview

Will Gano first got the bug to buy a business in 2014, while at business school. But he didn't race out after graduation and dive in head-first to his search. Instead, he decided on the type of business he wanted to own — manufacturing or distribution — and went out to get work experience that would position him to run such a business successfully. He spent 9 years getting that experience. But the patience and the commitment to his vision of ultimately buying a business has paid off. Will bought a 125-year-old bakery ingredients manufacturer in Chicago, a business that seems squarely in his wheelhouse. Enjoy this interview with Will Gano, owner of Bear Stewart.

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00:00:00. Will Gano’s background
00:03:53. Experience in the food industry
00:07:49. Deciding to buy a business
00:13:05. Engaging a buy-side broker
00:20:32. Will goes through search purgatory
00:25:33. Will finds Bear Stewart
00:29:59. Will’s approach to LOI’s
00:35:14. Working while searching
00:40:24. Submitting the LOI and personal letter
00:50:00. The bright side of losing a key customer
00:56:06. Hurdles to closing the deal
01:00:02. Reflections on business ownership
01:04:33. Manufacturing business insights

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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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