Stephen lives in France, works in the UK — and has completed four acquisitions of digital and creative agencies, two mergers, and one disposal.

GUEST

Stephen — Former COO; now building a UK digital and creative agency group from his base in France.

EPISODE SUMMARY

Stephen's acquisition journey began when he left a COO role at a $6m US business and discovered Jonathan Jay's webinar. Based in France, he has since completed four UK acquisitions in the digital marketing and creative agency space — sending out batches of letters, building a pipeline of 30–40 conversations, and completing his first deal with a distressed business owner. He reflects candidly on the difference between a distressed owner and a distressed business, and on the value of in-person mastermind events.

KEY TAKEAWAYS

▸ You do not need to live near the businesses you buy — Stephen operates entirely remotely from France.

▸ Sending letters in batches of 1,000 and following up consistently is the core of deal origination.

▸ The first call is the hardest; after six conversations, confidence builds naturally.

▸ There is an important distinction between a distressed owner (whose business may be healthy) and a distressed business — the former is a much better deal.

▸ Walking away from a deal at heads of terms is entirely valid — Stephen did it on his first serious conversation.

▸ In-person mastermind events deliver disproportionate value: the peer network, shared experience and real-time problem-solving accelerate progress significantly.

DEAL HIGHLIGHT

Stephen's first completed acquisition was a distressed business with a distressed owner. He structured it to limit downside: bought for £1, knowing the worst case was simply walking away and shutting it down — ensuring no significant capital was at risk.

"When I decided to leave, I came across a webinar of yours and I'm like, oh, this is possible — didn't even realise there was an option."

Learn more: www.dealmakers.co.uk

Rob pivoted from British food shops to coffee shops and completed two deals within two months of joining the programme — with more in the pipeline.

GUEST

Rob — Canada-based acquirer targeting independent coffee shops across Ontario and the US northeast.

EPISODE SUMMARY

Based in Canada, Rob initially planned to acquire British food shops serving the expat community before pivoting to independent coffee shops after listening to a podcast episode featuring John Richardson. Within two months of joining the Fast Track programme, he had signed heads of terms on two deals and had a third imminent. His story is a masterclass in following the process, staying disciplined on the 30-minute initial call, and understanding your own valuation logic before you walk into a negotiation.

KEY TAKEAWAYS

▸ Pivoting your target sector based on new information (such as a podcast) is smart, not indecisive.

▸ 750 letters generated five to six enquiries per day — and they were still coming in weeks later.

▸ Discipline on the 30-minute initial call is critical: it signals professionalism and filters out time-wasters on both sides.

▸ Know your valuation multiple before you enter any conversation — Rob uses 1–1.5x for standard sites and up to 3x for strategic locations.

▸ Sellers who can't produce financials rarely have a real business to sell.

▸ The lease is often more complex than the purchase agreement — always request it early, especially if there's a mortgage on the property.

DEAL HIGHLIGHT

Rob's first deal seller — who had run the coffee shop since 2005 — wanted to return to bookkeeping. Rob offered her a separate bookkeeping role across his growing portfolio, turning the acquisition into a long-term operational relationship.

"Stick to the process. Be confident. Do your homework. And be persistent."

Learn more: www.dealmakers.co.uk

John has bought three businesses in a year — including a hotel and golf club from administrators and a software company in six hours.

GUEST

John Graves — Serial acquirer with three deals in 12 months, specialising in distressed and administrator opportunities.

EPISODE SUMMARY

John's approach to acquisitions is defined by speed, volume and decisiveness. He signs NDAs daily and reviews at least five opportunities a week. His standout deals include a distressed hotel and golf club bought from administrators (with seven broken toilets on day one), which he refinanced within a week to pull most of his money back out; and a software company acquired in a six-hour process — at the price of a family car — alongside fellow mastermind member Steven.

KEY TAKEAWAYS

▸ Volume of deal flow is everything: signing an NDA every day means you can be highly selective about what you pursue.

▸ When you have too many inbound leads to handle well, switch off outbound marketing temporarily rather than give any deal poor attention.

▸ Administration deals move fast — offer on Wednesday, accepted Thursday, completed the following Thursday. Be credible and be ready.

▸ Buying assets (not shares) from an administrator means HMRC liabilities and other debts stay behind — you get the business free and clear.

▸ Leases are a hidden cash-flow trap: 10 separate equipment leases can become 10 monthly payments that compound and crush trading cash flow.

▸ Asset refinancing after acquisition can return most or all of your initial investment within days, freeing capital for the next deal.

DEAL HIGHLIGHT

The hotel and golf club: bought from administrators with an offer on day two, completed in seven days. Refinanced the assets within a week of completion and recovered most of the purchase price — then used that cash to complete a second deal within 30 days.

"Stop the procrastination and get those deals in — it's about volume and it's about mass marketing."

Learn more: www.dealmakers.co.uk