Has anyone in the community dual-tracked 2 lenders until closing? meaning you signed the commitment letter with 2 lenders and selected one before closing. If so, how did it go? Were there any issues you faced?

Hi all, need some ideas on reaching out to a potential seller. My wife is a primary care physician and is interested in acquiring a clinic 3-4 years from now. She identified a physician who might be retiring soon, however we are not sure about that. We also don't know what his succession plan is. Any advice on how to initiate conversation with him?

Hi All, I need help understanding the process post LOI. The general term that I understand is that we would do due diligence. From what I understand we would definitely need a M&A attorney who will help us review the contracts, negotiate terms with the seller, structuring the business, and draft the PSA. A friend also told me that I would need to do QoE which costs about $20k. However, I was speaking with a lender today and he said there's another kind of due diligence performed by the CPA which is not QoE and that costs $3k. I want to understand the difference between these 2. Moreover, I had spoken with a broker in the past. He had recommended that I skip QoE for smaller deals (<$2.5M) and do basic CPA due diligence as these businesses are not as complex and don't require QoE which typically not only costs more but takes a lot of time. Any help in understanding the difference and guidance/recommendation on whether I should do a QoE on a deal ($2.6M purchase price) that I am working on would be helpful.

Hi all, I’m Siddharth Mistry and I’m currently working as a Sr. Product Manager in Seattle, WA. I have experience working in payments (tech + compliance + regulatory) and telecom industries and no experience running a business, except MBA if that qualifies as one. Even though I don't have experience running a business, I bring a lot of transferrable skills such as customer focused approach, strategic thinking, financial modeling, market & competitor analysis, and stakeholder management. I’m actively looking to acquire a pet related, senior home care, or health/wellness based business in lower to lower-mid market as a sole proprietor. I plan to quit my W2 and operate the business myself in and around Seattle, WA area. Through the Mainshares network, I’d like to learn more about any businesses listed or coming soon. I’d also like to connect with current business owners to understand their acquisition journey. I’d like to hear their recommendations on things to do and steps to acquire a business. I’m also interested in pitfalls to avoid and lessons from mistakes they made or heard of. I’d like to understand their journey from searching to closing the deal. Lastly, I’d like to connect with anyone in the Seattle area looking for opportunities. Please feel free to reach out if you think there’s alignment. I look forward to connecting.

I know we're all using social media in some way, shape, or form. So let's use this thread as an opportunity to add each other. Goals: to improve everyone's engagement, to share ideas, to build closer business/personal relationships, and to stay in touch outside of just Searcher School. I'll go first—will happily add/follow you on any of the following platforms 👋🏻 - LinkedIn - YouTube - Instagram - Facebook Looking forward to connecting! 🙏🏼