Acquisition Zero closed yesterday

Hello everyone, I've been very quiet as I only came across this community while already conducting DD on a (very) small business. We closed yesterday.

The business provides online tutoring for high-achieving students entering their final two years of secondary school (in Australia). It's small, but profitable, with excellent margins due to its business model of simply connecting and facilitating contractor tutors with students.

I call it "Acquisition Zero" because myself and a business partner intend to make a series of acquisitions, but deliberately sought out a small one first. It forced us to go through the process of drafting each document and checklist, conducting DD, and working with advisors to close the purchase. When we come to "Acquisition One" and onwards, we'll be better prepared and more knowledgeable. With some time, we'll be able to see whatever we missed during DD to inform future purchases.

Today, I'm sending out new contracts and a code of conduct for staff, and organising my week to achieve handover between the seller and I. I'm happy to further discuss what I've learned as I get my feet under the desk and discover the skeletons in the closet.

Chris.

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