Plumbing Acquisition Gone Wrong | Josh Key Interview
Video from Acquiring Minds. Watch on YouTube.
What you'll get
Josh Key, a medical-device salesman, tells host Will Smith how he bought a small Dallas-Fort Worth plumbing company in 2020 with a partner he knew from church, brought in late because the deal needed a licensed master plumber, and how an even split, a thin operating agreement and little checking of the partner led to the business closing and a Chapter 7 filing. It is a hard warning that a trade license can push a partner into your deal, so watch it before you hand anyone half a company.
Do this week
If a deal or hire would put someone else's license, name or money at the center of your business, write five things you'd check about that person first and have a lawyer who doesn't work for them review the agreement.