In this video, Mike Buddie talks about the acquisition process of a machine shop. This is a Phoenix machine shop that has been in business for about two years. Mike Buddie approached this cautiously by waiting to ensure he was ready to purchase the shop.
He talked about what he was looking for in a machine shop, as well as what he did not want.
First, it was essential to have a core from which to grow, including customers, systems, capabilities, and employees. He does not want to change the foundation as the business grows. Instead, he wants to add on to the foundation that is already there.
It was essential for this Phoenix machine shop to have a vision and stick to it while looking for the business. It can be a challenge to find a business willing to sell and one that has the same vision. Talking to people seemed the best way to find businesses that fit the needs and vision. It may be a challenging and timely process to find the right machine shop.