Facing the threat of redundancy, Phil overcame his fears and acquired two highly profitable hair salons without using a single penny of his own money.
Working full time as an HR Director, Phil was suddenly faced with the very real possibility of losing his job. Worried about his age and struggling to get responses to his CV, he realised he needed to immediately secure his financial future. He joined the Mastermind programme, but fear completely paralysed him.
For the first eight months, he severely overthought the process. He worried about sending enquiry letters to the wrong address, using the wrong words, and facing rejection. It was only after listening to a podcast featuring another successful dealmaker who had boldly entered the salon sector with zero experience that Phil finally experienced a light bulb moment. He stopped overthinking, sent out several hundred letters, and the phone immediately started ringing.
"I realised that I had spent the first eight months trying to almost not send the letters out. I was overthinking and getting in my own way. I finally thought, 'Just go out there and do it. What on earth have you got to lose?'"
Phil quickly learned that dealmaking is fundamentally about building relationships. He connected with a salon owner who desperately wanted to retire and spend time with her husband. She had previously rejected a competitor's offer because she refused to let her loyal team be made redundant.
Because Phil built immense trust with the seller, the negotiation took an unbelievable turn. When he asked what the business was worth, the owners simply replied that they did not want any money for the business itself. They only wanted to be paid for the physical fixtures and fittings. Phil controlled his shock, structured a rapid asset purchase, seamlessly renegotiated the lease with the landlord, and completed the entire acquisition in just five weeks.
For the Business Itself
Weeks to Complete
Trust-Based Negotiation
While finalizing his first acquisition, a second salon owner reached out. This seller was highly emotionally invested in her brand and demanded a much higher valuation. She was terrified of the business changing its name or losing its legacy. Phil reassured her and structured a brilliant share purchase.
The seller had absolutely no idea how to sell a company, so Phil gently guided her through the entire process. He secured government funding to cover the initial consideration and structured an 18 month deferred payment plan for the balance. Phil acquired the second business using absolutely none of his own money. Today, while still working full time as an HR Director, Phil expects his two salons to generate a net profit between £175,000 and £220,000 a year.
Both using 100% financed deals
Expected annual net profit
Government funding + deferred payments
Working HR Director while running salons
How to buy a profitable business without risking your own cash in less than 180 days!
The fastest way to secure your financial future is by acquiring established, profitable businesses. This best-selling book usually costs £12.99 on Amazon, but I am giving it away for FREE! I have a limited allocation of free copies of this 120-page paperback book to give away this year!
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