Advice for an unconventional searcher

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February 08, 2026

by a searcher in Cleveland, OH, USA

Looking for perspective from experienced searchers, operators & investors. I’m 35 and early in my search journey. I do not have a college degree and my background is broad rather than deep: construction trades, commercial real estate brokerage, short-term rentals, and property management. I’ve built and managed things, but I wouldn’t claim to be a master of any single industry. Maybe hospitality since people tend to like me. My initial focus was on acquiring a smaller business that I could purchase without outside investors, roughly $200k–$300k in SDE at a 2.5–3.2x multiple. After spending time in this community, I’m starting to better understand the added risks at that level: thin margins for error, key-person risk, limited growth levers, and the reality that many of these deals can turn into buying a demanding job rather than a scalable business. That brings me to a crossroads. Option one is continuing to pursue smaller acquisitions that I can self fund, accepting the higher operational risk in exchange for autonomy and speed. Option two is targeting a larger business, say $1M+ in SDE, which likely means bringing on investors. My concern there is credibility. Without a degree or a traditional operating background, I’m unsure how realistic it is to raise capital, even with relevant hands-on experience and strong motivation. So my question is less about a specific deal and more about strategy. For someone in my position, what tends to be the most realistic path forward? Is it worth investing time into formal credentials or certifications to improve investor confidence? Is the small-deal route a reasonable proving ground despite the risks? Or is it better to focus on a higher-quality search and work backward into an investor-backed structure? I’m not looking for shortcuts, just trying to choose the path that gives me the best odds over the next five to ten years. Appreciate any honest perspectives
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Reply by a searcher
from University of California, Santa Barbara in Santa Barbara, CA, USA
I am out in Southern California, so very different market, but if I had your background and was your age I would already own two $2M construction businesses with earnout deals to the owners, no money down. There are a ton of businesses under $2M revenue/$250K SDE in this region where aging owners just want to keep their legacy alive. Those are probably there in your region and probably more profitable. The challenge with this size of business is that you need to be able to very quickly become the "master craftsman" that the previous owner is, so you need to be able to a put enough time in as an apprentice to get there. You already have a foundation in the trades so a one year "ride-along to mastery" is a really feasible strategy for you. For someone like me with no experience it would be a 3-5 year journey which I don't want to make at my age###-###-#### If it's a "regular" business you can scale it after you master it. I have a ton of management experience, so I was focused on that larger size where I could step in as a professional manager. There just aren't enough targets in my specific region though, so I chanced into a $1M tax business where I am consulting before purchasing. In that industry I am like you in relation to the trades, I have enough experience to quickly learn it, and I am having a lot of fun doing it. There are so many targets in that industry that even if this deal didn't work out, after the 6 months I've been in the drivers seat I wouldn't sweat it and would just find another deal.
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Reply by a searcher
from Princeton University in New York, New York, USA
Sounds like there's a middle ground between the $200-300k range and $1m+ range. If you get something that's ~$400-800k you can de-risk the owner involvement point (particularly if the business has a good number of employees). Also if you can get something in that range, you'd likely only need 1-2 investors to come in (which de-risks having to raise a bunch of capital). I think there'd be investors who'd value your prior experience, provided it's a good deal
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