Buying a Platform with an SBA Loan - Acquiring Minds Recap
Podcast: Acquiring Minds
Published: 2026-01-22
Duration: 1 hr 42 min
Summary
Jacob Voswinkel shares his journey of acquiring a flooring business in Jacksonville, North Carolina, emphasizing the organic growth and sacrifices involved in the process. He discusses the unique challenges and opportunities within the flooring industry and the importance of strategic market selection.
What Happened
In this episode, host Will Smith interviews Jacob Voswinkel, who recently purchased a flooring business called Floors Galore. Jacob's journey began in finance, where he worked in capital markets, but he always had an entrepreneurial spirit that led him to real estate investing. After achieving success with various real estate ventures, he decided to pivot to entrepreneurship by acquiring a business in the flooring industry. Despite the flooring sector being perceived as less attractive by many buyers, Jacob has embraced it and has seen a 50% organic growth in just a year and a half since his acquisition.
Jacob's decision to buy a flooring business stemmed from his willingness to explore tertiary markets, leading him to Jacksonville, North Carolina. He highlights the fragmented nature of the flooring industry as one of its appealing aspects. However, he acknowledges the sacrifices he has made, including spending weekdays at the business while flying back to Austin on weekends to see his fiancée. The interview delves into the complexities of business acquisition, weighing the pros and cons of building a large enterprise versus maintaining a smaller lifestyle business, providing listeners with valuable insights into the realities of entrepreneurship.
Key Insights
- The flooring industry is often overlooked by buyers, but it offers unique opportunities due to its fragmented nature.
- Jacob's journey illustrates the importance of strategic market selection in business acquisitions.
- Organic growth is achievable, as demonstrated by Jacob's 50% growth in his flooring business.
- Balancing personal sacrifices with professional ambitions is a common theme in the entrepreneurial journey.
Key Questions Answered
What led Jacob Voswinkel to buy a flooring business?
Jacob's career started in finance, and he always harbored an entrepreneurial itch alongside a real estate focus. By 2023, he was making more from his real estate ventures than his W-2 job, which gave him the confidence to pursue business ownership. His search for a business eventually led him to the flooring industry, despite its perceived weaknesses.
How has Jacob grown his flooring business since acquisition?
Since acquiring Floors Galore a year and a half ago, Jacob has achieved a remarkable 50% growth, all organically. This growth reflects his strategic focus on the fragmented nature of the flooring industry and his commitment to enhancing marketing and operational efficiencies within the business.
What sacrifices has Jacob made in his entrepreneurial journey?
Jacob has dedicated his weekdays to managing his business in North Carolina while flying back to Austin on weekends to maintain his relationship with his fiancée. This commitment illustrates the personal sacrifices often required in the pursuit of entrepreneurial success.
What insights did Jacob share about the flooring industry?
Jacob expressed a strong affinity for the flooring industry, noting its fragmentation as a positive factor. He acknowledged that while the industry has its challenges, he has found opportunities for growth and improvement, particularly in areas like marketing and community engagement.
What are the pros and cons of building a large business versus a lifestyle business?
During the conversation, Jacob and Will explored the merits of creating a large enterprise compared to maintaining a smaller, more manageable lifestyle business. They discussed the trade-offs involved, including the potential for significant growth versus the stability and personal fulfillment that can come from a well-run lifestyle business.