How James used a chance conversation to acquire a business founded in 1777 — and why buying beats starting every time.

GUEST

James — Serial acquirer in the funeral profession and Deal Makers Academy mentor.

EPISODE SUMMARY

James had been quietly learning the acquisition process through Deal Makers Academy when a casual remark to a 62-year-old business owner sparked an unexpected deal. His story spans multiple acquisitions in the funeral profession, including a remarkable purchase of a business founded in 1777, and a creative "undercover" strategy that involved hiring out limousines to competitors to scout acquisition targets. James also reflects honestly on the realities of starting a new business versus buying an existing one.

KEY TAKEAWAYS

▸ Being one or two steps ahead of the seller in knowledge is all you need — you don't have to be the finished article.

▸ Buying an existing business gives you instant infrastructure: staff, clients, phone numbers, bank accounts and reputation.

▸ Starting a new business from scratch can take a decade just to break even; an acquisition shortens that dramatically.

▸ Going 'undercover' — in James's case, as a limo driver — is a legitimate deal-sourcing strategy to understand a market from the inside.

▸ Deal structure can go beyond price: James paid the full asking price on one deal and was later invited to the seller's diamond wedding anniversary.

▸ Commercial mortgages against the property element of a deal, plus cash in the business at completion, can make a deal largely self-financing.

DEAL HIGHLIGHT

James acquired a funeral business that included a converted house and a large premises. He raised a commercial mortgage against the property, used cash already in the business to fund another acquisition, and repaid a director's loan — meaning more money went back into the bank on day one than he paid out.

"You've got the clients, the customers, the families — and in our profession, people come back to us generation after generation."

Learn more: www.dealmakers.co.uk

Danny reveals how he acquired nearly £900k worth of manufacturing businesses without spending a penny of his own money.

GUEST

Danny — Manufacturing business acquirer with three no-money-down deals completed.

EPISODE SUMMARY

Danny has bought multiple manufacturing businesses using creative deal structures that required no personal capital. His first acquisition involved separating the property from the business, selling the real estate to a property investor on day one, then paying for the business itself out of its own profits over four years. His second deal mirrored this structure, with the property acquired via commercial mortgage and cash from business one. A third deal came through an unexpected referral when a previous deal collapsed.

KEY TAKEAWAYS

▸ Splitting property from the business in a deal and selling the property to an investor on day one can fund the cash element sellers need — with no money down.

▸ The balance of consideration (the business value) can be deferred over four to five years, paid from the profits the business itself generates.

▸ Buying alongside a broker is possible, but insist on dealing directly with the sellers — the best deals are done over a cup of tea.

▸ Build a commercial property portfolio alongside your business acquisition portfolio: one gives you cash flow, the other gives you capital growth.

▸ A collapsed deal can itself become a deal-sourcing opportunity — Danny's third acquisition came directly from a candidate he'd interviewed to run a different business.

▸ Recovery loans and leverage against debtor books are legitimate funding mechanisms for day-one consideration.

DEAL HIGHLIGHT

Deal one: total consideration ~£900k, 0% from Danny's personal funds. The property (the majority of the price) was sold to an investor on day one; the business element was deferred over four years, funded by the business's own profits.

"Of course you can. It is just those people don't know how to do it — so they tell you that it can't be done because they don't know any different."

Learn more: www.dealmakers.co.uk

Martin's ambitious roll-up strategy for accountancy firms includes a unique model where he charges businesses to help them become worth buying.

GUEST

Martin — Entrepreneur building a £400m financial services group through accountancy acquisitions.

EPISODE SUMMARY

Martin came to Jonathan Jay's course as a sceptic and left ready to move fast. Within days of finishing, he had acquired his first accountancy firm — and a second between Christmas and New Year. His strategy has since evolved into a sophisticated pipeline model: for businesses that want more than he can fairly pay, Martin charges a monthly consulting fee and takes an option to buy in three years, helping them reach the value they're seeking while generating referral income along the way.

KEY TAKEAWAYS

▸ Speed of action after learning the process is a hallmark of successful acquirers — Martin had two deals done within a week of finishing the course.

▸ Buying your own accountant can be a dual win: you get a great business model AND recruit the MD you wanted.

▸ For businesses priced far above what they're worth, an option-to-purchase combined with paid consultancy creates a win-win: the seller gets help, you get referral income and a pipeline deal.

▸ Accountants typically value their own businesses on gross recurring fees (0.8–1.5x turnover) rather than profit multiples — understand this going in.

▸ Integrating mortgage, insurance and pension referrals into acquired accounting firms is where the real profit sits.

▸ A business that's been consulted and developed before acquisition arrives de-risked, with transition work already done.

DEAL HIGHLIGHT

Martin has built a pipeline of 14 businesses he is actively preparing for acquisition, charging them monthly consultancy fees while holding an option to buy at a pre-agreed price — creating income today and a de-risked acquisition tomorrow.

"What if we just start buying up accountants? How hard can it be?"

Learn more: www.dealmakers.co.uk