Michael Girdley (@Girdley), Bill D’Alessandro (@BillDA), and Mills Snell (@thegeneralmills), we talk about a fun deal in Dallas-Fort Worth, Texas on a Highly Profitable Dog Resort & Daycare. We find out whether this is a growing market with its extraordinarily high margin, the pet industry's macro characteristics, fascinating financing pieces, and the seller's flexibility make for successful negotiation.-----Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.Do you enjoy our content? Rate our show!Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.-----Show Notes: (00:00) - Introduction(01:15) - Our Sponsor is Live Oak Bank(02:23) - Deal & financials: Highly Profitable Dog Resort & Daycare(04:36) - We’re not acquiring any Real Estate on this deal!(07:59) - What is particular about these customers and what is the arms race in this business?(10:03) - Is this a moat-able business?(13:00) - Can this business be all fun or is this sneaky? Are there regulation requirements here?(14:28) - Are there any upselling opportunities to gross your net margins?(18:03) - What happened with the TAM after COVID on these?(20:27) - Don’t skip these topics when talking to the seller!(19:01) - Why is it so risky to operate this business? Where will you spend your time protecting your investment?(21:05) - There's something we're missing: What doesn't seem right about the price?(24:29) - What would @BillDA think about negotiating this Deal?(26:49) - What is your ceiling for this business? Think about buyer-business fit!-----Additional episodes you might enjoy:#122 ATMs are a sick business. Cash is King!  #121 An eCom business at 2x profits?! #105 How to Make Money in the E-Commerce Game - Bill D’Alessandro gives an e-Commerce masterclass - Part 1#75 SBA Loan Secrets with Heather Endresen, expertise from a Billion-Dollar Loaner