Buying a business could be one of the most fulfilling decisions of your life
We offer a new way to do it
A new path to small business ownership
“Traditional” searchers raise money from investors to fund their full-time search. If they are successful, their investors receive equity in the business.
The model offers entrepreneurs support - financially, but also access to their investors’ expertise and networks. But that support comes at a price, with traditional searchers typically only retaining up to 25% of the equity in their business.
“Traditional” search fund model
“Self-funded” model
“Self-funded” searchers venture out alone - funding their search out of savings and reaching out to investors only when they have found a business to buy.
The model offers more flexibility - as well as greater financial upside, with searchers typically getting up to 80% of equity at closing. But searchers are on their own until the final steps. If they cannot commit to searching full-time, they’re also less likely to find a business.
The Concorde model
As one of our an Entrepreneurs-in-Residence, we’ll take you under our wing. We’ll search for a business that meets your criteria. If we find one that’s a fit, we’ll help you acquire it - and add value to it afterwards.
We think the risk-adjusted return is compelling. You’ll vest into majority ownership of the business, while getting more support than searchers often get in a traditional search. Plus, we’ll overcome whatever was preventing you from owning a business - whether it’s the inability to search full-time or lack of familiarity with how to navigate the process.
Your ownership journey with us
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Expressing interest is the first step. But we want to make sure that we are the right fit for you and that we have the bandwidth to support you.
During this process, we’ll get to know your background, personal and professional aspirations, and skills.
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Once we accept you as an Entrepreneur-in-Residence and know you, we will search for the right business for you - leveraging proprietary data and relationships as well as deep experience doing market diligence.
Beyond being a sound investment, we’ll make sure it fits your interest and expertise, intended level of involvement, and risk tolerance.
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When we find a business we think is a fit for you, we’ll reach out. We’ll share why we like it and what the financial and personal implications would be for you. Typically, we will have already interacted with the sellers and their agents, done initial due diligence, and pre-negotiated a price.
If you like it, we’ll bring you on board and start the formal process of making you the new owner.
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Actually buying a business can be dizzying process, with many steps that need to be done quickly - and correctly. We’ll manage the close process for you from start to finish, including performing confirmatory due diligence, securing financing, supporting negotiations, and liaising with other parties like lawyers and investment bankers.
Think of it like buying a house. At this point, you’ll typically have to take out an SBA business loan, which is the equivalent of a mortgage and is generally a primary source of financing for such acquisitions. We will guide you through the process and help you close any gaps.
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We won’t disappear post-close. Although you are the ultimate owner, we have an interest in you doing well.
With deep experience from assisting private equity funds and senior management add value to their companies to actually running our own businesses as CEO, we know what levers to pull to move the needle. We’ll not only help you diagnose potential levers, but help execute on them too.
We intentionally want to address as diverse a group of potential investors as possible - it’s part of our mission. If you want to own a business but time or know-how is holding you back, we should talk.
Here are example of profiles we think could be a great fit:
You’re a mid-career executive with a track record of success. You want to move to the CEO role and have more potential upside, but can’t afford to quit your job to search for a business full-time
You’re an officer in the military looking to move into business. You know how to lead a team like few people do and would make a great CEO, but you’re new to the business world and need help to navigate the process
You work in management consulting, banking or private equity. You have a keen sense for what makes a business great and want more predictability and control, but the demands of your job gives you little time to search for a business
You’re a practitioner or tradesmen who knows the ins and outs of a licensed industry. You’d be ideally suited to carry on the legacy of somebody in your industry looking to retire, but wouldn’t know where to start to acquire a business of your own
You’re looking for an investment asset to add to your portfolio. You understand the potential upside of owning a small business and want more exposure than the typical search fund investment provides. But you don’t have the time to search for a business and go through the acquisition process and aren’t looking to operate the business full-time
Who we’re looking for
FAQs
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We purposefully keep our criteria broad - in line with our mission to broaden potential ownership. Our two key criteria are:
Serious intent to acquire a business (incl. willingness and ability to personally guarantee a loan)
Ability to successfully run a small business
We encourage the following types of candidates to apply in particular:
Applicants from non-traditional backgrounds (e.g., non-white, non-male)
Applicants who cannot pursue a search full-time
Mid- to late-career professionals
Applicants who do not wish to run their acquired business full-time (e.g., as CEO)
Applicants without an MBA
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We are unable to accept the following types of candidates:
Applicants who have already raised a traditional search fund or are otherwise affiliated with a fund (note: we will work with self-funded searchers)
Applicants who are unwilling or unable to personally guarantee an SBA loan, which is typically the primary financing source for acquisitions of this size
Applicants with less than 3 years of professional experience
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Absolutely! Unlike most traditional search fund sponsors, we don’t set any parameters on things such as industry or geography (as long as it’s within the US or Canada). Ultimately, you decide whether you want to buy the business.
Of course, bear in mind that the narrower your criteria, the less likely you will be to find a business (or, at least, the longer it will take).
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No, we expect all Entrepreneurs-in-Residence to cover their own living expenses, either through their current employment or through savings.
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The bulk of our compensation will be in the form of equity in your business.
This aligns our incentives with yours to ensure we find a business and that it will perform well.
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Absolutely! We can help you manage the close process, including securing the financing, performing confirmatory due diligence and managing the different work streams.