I’m very excited to share this week’s interview with Walker Yarbrough.
He started off with long hours in Investment Banking until he looked up at his bosses and he realized he didn’t want their job (at all).
"Even once they'd climbed the ladder, they still just didn't have a lot of control of their own time…They were doing great by a lot of standards, but in the office super late and working on weekends and traveling all the time. It was just a future I didn't see for myself."
So, Walker did what a lot of us do who want to get into ‘business’. They do literally everything under the sun, hoping something will work:
Then, he decided to simplify and buy a business he could understand.
A vending machine company with 7 locations in Atlanta. Fully owner-operated by a 75 year old who wanted to retire.
But here’s where things get interesting:
💡 Walker had to beat out an experienced vending machine company competing for the same deal.
💡 The deal got held up for 2 MONTHS over a $200 bill.
💡 And when it DID close, Walker made a classic first-timers mistake. He hired an operator to run the business and went off on vacation. Aiming for a ‘passive’ investment. Until the operator quit 3 months later.
The full story involves a panicked craiglist job hunt, Walker losing one of his biggest customers, and realizing that the business was practically run out of the previous owner’s car.
It’s a wild ride. And at the end, Walker not only succeeded but excelled. So much so, that he’s one of our new M&A advisors.
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