Matt Bank

@zSh1p helped bring my gym to life. I've never been good at design, usually just opting to throw things wherever they land. Zach changed that. He modeled out the design and everything fell into place perfectly. Home gyms = more time with your family and more time for your family to see you working towards health.

My man @themattbank and his garage gym transformation! Helped him put together a layout in his specific space, shared the 3d design layouts, and he executed. Last pic is my favorite, with the whole fam involved and bringing fitness into the home That’s what it’s all about

The best days are... BOOSTED! @theryandreyer

It's not supposed to be easy. Got news today that the deal isn't going to happen. At least not yet. Owner has unrealistic pricing expectations. Out of my control. The good news, I know SO much more than I did 6 weeks ago. Also, the broker on the deal let us know that our offer was the best structured and we seemed the most professional. Small silver lining. The dream aint over, just time to move onto the next one.

@BlaineBursey Come hang out

I think I’m due for a NYC trip

The extension is called... Remove X (Twitter) For You Tab Straight and to the point lol

One thing I despise about X is the For You page. It's a leech on your soul and well-being. Just found a cool Chrome extension that completely removes the For You page. There's a solution to most problems if you just look.

All I'm saying is that if it is your job to help deals transact and someone sends you and LOI at noon on a Friday and you still haven't responded to the email by 9am on Monday... you suck at your job.

When you try to bash a brand and then end up making that brand more money. Nothing brings a bigger smile to my face. I've been a die hard supporter of ENAK since day one, and I will continue to be. Not only that, but I support the person/family behind ENAK. They are putting in tireless effort to make a generational impact on their family. If you dont like that then you can just go on and git!

Another “organic” post that’s actually a disguised ad. This account spends the whole thread trashing Big Food taco packets… then casually pushes their own seasoning blend. X’s algorithm loves these influencer-style sales pitches because they don’t look like ads. We’re not stupid. We see what you’re doing. #DisguisedAds BTW I pay $40/mo for no ads

I generally avoid saying anything negative about competitors or comparing my blends to others, but I do make a bit of exception when it comes to Big Food and their practices. Taco seasoning is the perfect example. Look at the ingredient listing of the store bought taco seasoning packets. The ingredients are listed in order of volume, and most likely you'll see corn starch listed first, chili powder/peppers, and then maltodextrin. Corn starch and maltodextrin aren't necessarily bad for you, but they serve one purpose and one purpose only in those seasoning packets - adding bulk weight at a lower price than the seasonings to maximize profit for Big Food. Those packets weren't designed to make food taste great. They were designed by food scientists in a lab to taste just good enough while maximizing profit for Big Food. My Taco seasoning was developed in my kitchen over a number of years to taste great. Full stop. Pop the cap on my Taco seasoning and you'll smell the difference before you ever taste it. The same is true with my Cajun Heat in comparison to the big names. It is fragrant. It smells and tastes real. Because it is. Big Food reduces the flavor with processed fillers to increase profits. I give you all the flavor with natural ingredients for a fair price. You deserve that.

@WilsonCompanies Agreed. Even getting an employee contract in place with key employees does not disolve the risk of them leaving. When the biz relies on a few key people, the risk is always there post acquisition

2/ Buyers ask two questions: What is the cash flow? Will that cash flow continue after I buy it? That second question matters most. If your business depends on your relationships, your knowledge, or a few key people, buyers see risk. Risk lowers multiples.

I’ve acquired 13 businesses. Only a handful were truly built to sell. The difference in value was massive. Here’s what separates a premium exit from a discounted one:

LOI sent. That was exciting. Let's see how it goes.

@theryandreyer @dante_rebelo 10 min recaps of each playoff game on YouTube is an elite move. I get to watch good playoff hockey each day without staying up past my bed time lol

@themattbank Yes by a mile but Sixers will always be my darling Flyers G6 OT was first hockey I’ve watched all year. Couldn’t believe how bad they were getting bullied… then ding 🚨 Tough @dante_rebelo

After a year of ignoring the Sixers I’m all the way back in LFG

Had a hard conversation with my business partner yesterday. We spent 54 minutes talking through every catastrophic scenario that could happen with this deal. Every employee quits day one. All the equipment breaks. The business goes to 0. And much more... It's much more fun to talk about the potential success vs the potential failure. But here is why that conversation was so important... We came out of it accepting all of these potential scenarios. We faced these risks, and the outcome they would produce for us, and still want to push forward. It's not all sunshine and rainbows - don't forget to plan accordingly.

Planning on submitting my first LOI to acquire a business. The plan going forward, with X, is to document the journey. The good. The bad. The scary. The success. Will get into the details at a later date, but it should be exciting.

The best way to learn is to do. Today's lesson - it is better to be patient when dealing with SBA lenders. I initiated the conversation a few weeks back but without all of the necessary financial information. Then, submitted the final pieces but didn't update the lender on the new deal structure. This resulted in a eye-widening email from the lender stating that they would not be able to approve the loan... Even after a few emails it seemed like it wasn't going to happen with this lender. Fortunately, we jumped on a call and were able to clear everything up and now it is looking promising. Good lesson. Also, always call over email.

I've seen sub-$1M EBITDA businesses command higher multiples than companies twice their size. Many times. The reason had nothing to do with revenue. They had a small, loyal management team that didn't need the owner to function. Less keyman risk is the way.

Most sellers think these three things make their business more valuable: Big clients Large projects No debt All three are wrong. Big clients = customer concentration risk. Large projects = lumpy, unpredictable revenue. No debt? Buyers don't care. You pay it off at closing. What actually moves the multiple: repeatability, team, and ops.

@keith_marquis what door company do you use??

roll up door on our back dock at our store had been quirky for 18 months Got it fixed two days ago Ran a forklift into the same door this morning Oooof

@Blair_Turn what is that sauna?? Infrared or traditional? How was the set up?

The Home Garage setup is coming along!