I’m looking for a business to purchase in the Jacksonville area
![Jake Posey - Buy a business in Jacksonville](https://www.posey.biz/wp-content/uploads/2022/09/Jake-Head-300x300-1-300x300.jpg)
Are you thinking about selling your business? I recently exited my consulting business and am looking to buy a business closer to home here in Jacksonville.
About Jake Posey
Jake Posey, born in Illinois, grew up in a family of entrepreneurs. His father, mother, all 5 siblings, and extended family members have all launched and grown businesses in the areas of construction, flooring, art, waste management, fitness, project management, and marketing.
Jake moved to Florida in 2000 and started his entrepreneurial career with a Masters degree in Entrepreneurship from the University of Florida. He has worked in different positions in marketing, construction, waste management, product management, client management, implementations, operations, business development, education, and real estate.
In 2017, Jake started a consulting company in the financial payments technology field and grew it to 9 employees and $700,000 in annual revenue before folding the company into his largest client, Crypto.com. Jake’s company helped clients find funding, hone their business idea, create a financial strategy, marketing strategy, product strategy, launch their businesses and grow them to over $100 million dollars.
Do our core values line up?
Selling your business is very personal and you and I will be spending a lot of time together. For this to be successful for both of us, our core values need to align. Here are mine.
- Do whatever it takes to get the job done
- Clients needs come first – always
- Do excellence, not perfection
- Open and honest with our team, our partners, and our clients
- Always learning and always improving
What types of business am I looking for?
I am looking to buy several businesses in or close to the Jacksonville area over the next 20 years. The businesses must have:
- Been in business for at least 5 years
- Had steadily increasing revenues and profits
- At least 25% average EBITA
- Repeat customers
- A solid reputation in their field
The following are not being considered at this time: businesses in the hospitality industry, new franchise territories, or high environmental impact companies (i.e. gas stations).
Who is helping me?
If you are serious about buying a business, you need help. I’m a big believer about putting together the right team to make the transaction go smoother and quicker.
- Banking
- Several local banking partners – based on industry and deal size
- Accounting
- The Hurst Company: Hank Hurst
- Legal
- Glazier Glazier & Dietrich: Scott and Andrew Glazier
Financing Strategy
- Deals < $250,000: Use a mix of Cash, Bonds and HELOC
- Deals $250,000 – $1,500,000: Use a mix of Cash, Bonds, IRA, HELOC, SBA Loan, and Seller Financing
- Deals Over $1,500,000: Use a mix of Cash, Bonds, IRA, HELOC, SBA Loan, Seller Financing, and Investors