The Allure of Buying a Marketplace Business | Zach Smith Interview

One type of business I bet you haven't considered buying: A dental savings plan. Zach Smith bought a business that has paying members, the consumers, on one side. On the other are the dentists who agree to serve its members at a discounted rate. Zach saw it as fundamentally a marketplace business, which he knew something about after having worked at Uber for 7 years. Good business-buyer fit. Zach also saw downside protection. The business is actually on the decline, so a turnaround. But listen for Zach's risk analysis, where he concludes that even if he's unable to arrest the decline, he'll at the very least get his money back. A conclusion that gave him the comfort necessary to buy the 30-year-old business. Here's Zach Smith, owner of American Dental Care Partners.

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00:00:00. Zach’s background at Uber
00:09:01. Zach leaves Uber and considers his future
00:12:17. Zach’s search parameters
00:17:13. Zach explains marketplace businesses
00:26:21. American Dental Care: the business he acquired
00:36:51. Financial history of the business
00:42:46. Competition in the industry
00:47:59. Changes post-transition
00:54:45. Pitching services to dentists
00:59:05. Terms of the deal
01:08:57. Doing a stock sale instead of asset sale
01:11:56. Exploring growth potential and market dynamics
01:18:54. Reflecting on the turnaround journey

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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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