How Business-Buyer Fit Led to 2.2x and No PG | Joseph Wynn Interview

Today's guest was fortunate to have great business buyer fit. Joe Wynn had been successful in medical device sales, so buying a sales and service business in the operating room supply industry was a natural transition. So natural, in fact, that the supplier went to bat for Joe. They wanted him to buy the business, and that gave Joe leverage in the negotiation with the seller. Leverage he used: Joe's multiple on this $600k SDE business was about 2.2x. Not to mention, $150k in working capital. Not to mention, a seller note of around 90%, a note with the same nice 10-year amortization as an SBA loan, but at a lower rate and no personal guarantee. We unpack the business model, the opportunity for Joe to grow, and the possibility for others to buy a business like this, even if you don't come from medical sales. It's early days for Joe; he closed in late January. But he's bullish on 2026, projecting to grow the business from 2025's $2m in revenue to $3m, maybe more. And, he already has some battle scars. Listen for how he dealt with his bank closing the business's account, leaving him unable to submit payroll or receive payments. Huge lesson in post-close liquidity there. OK, please enjoy this conversation with Joe Wynn, owner of Surgical Specialties. ❤️ Enjoy this interview? SUBSCRIBE for more: https://shorturl.at/zaP1m Chapters: 00:00 Joe’s background 03:50 Discovering ETA – Buy Then Build & Acquisition Lab 05:35 Leaving medical device sales for ownership 09:13 Finding business on BizBuySell 13:49 Financials – $2M revenue, $889K SDE 23:22 Revenue streams – projects vs recurring service 31:27 Negotiating price to $1.35M 51:31 Deal structure – seller financing 01:05:43 Early challenges – frozen bank account 01:17:24 Growth strategy & expansion opportunities CONNECT with the Acquiring Minds podcast, socials, etc. 🎧 Podcast on Spotify: https://open.spotify.com/show/2vZrl0u... 🎧 Podcast on Apple: https://podcasts.apple.com/us/podcast... 👉 Get notified of new interviews: https://acquiringminds.co 👉 Follow host Will Smith on Twitter:   / whentheresawill   👉 Connect with host Will Smith on LinkedIn:   / willsmithsf   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. Credits: Edited by Anton Rohozov Produced by Pam Cameron #business #acquisitions #buyingbusiness