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Paul Hickes talks about new venture, the Tramway Bakery in Blackpool
⏲ 2:2 👁 38.9M
The Website Architect
⏲ 13 minutes 13 seconds 👁 35.7K
WPBakery
⏲ 25 minutes 44 seconds 👁 8.3K
Villagers thought a hike in car parking charges was an April Fool's Day joke - because the rise was so \
⏲ 1:0 👁 57.5M
WPBakery
⏲ 19 minutes 32 seconds 👁 202.5K
Craylor Made
⏲ 30 minutes 55 seconds 👁 12.4K
Staying small is working out big time for Shore Capital. Their average internal rate of return on its 14 exits, all in health care, is 53%, net of fees. That’s nearly triple the average net IRR of U.S. buyout funds raised since 2009, according to data from Cambridge Associates. After Shore took its 20% to 30% cut of profits, its exits multiplied investors’ money by 5.5 times on average, also nearly triple the average total value to paid-in capital multiple of U.S. buyout funds raised during that period. Shore has never unloaded a company for less than three times cost before fees, nor, it says, has it ever suffered a loss. “Those are top 1% returns in private equity,” marvels one investor who asked not to be identified, citing his organization’s press policy. “That’s rarefied air, right? That’s more like venture capital than a traditional buyout firm.”<br/><br/>Ishbia and his team have acquired more than 1,000 mom-and-pop shops across the country (average cost: $15 million) since Shore’s 2009 founding and rolled them up into 61 larger chains of things inclu­ding autism treatment clinics, bakeries and exterminators. “We’re buying businesses in Akron, Ohio, and Pittsburgh, and Birmingham, Alabama,” Ishbia says. “There’s more low-hanging fruit for me. It’s Joe Schmo on Main Street.”<br/><br/>Shore then invests in computer systems and equipment, stacks the businesses’ boards with industry veterans and hunts for complementary companies in adjacent markets. “We’re just buying and buying and buying,” says Ishbia, who insists Shore doesn’t take on as much debt as other private equity firms and doesn’t cut servi­ces or head count. “The private equity world gets a bad rap for ‘buy this, slash that.’ We are growth—we have almost 35,000 employees and hire thousands per year.”<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/mattdurot/2024/04/08/this-main-street-billionaire-bought-over-a-thousand-small-businesses-and-never-lost-a-dime-justin-ishbia/?sh=3140aa9e39ee<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
⏲ 11:7 👁 570K
WPTuts
⏲ 35 minutes 58 seconds 👁 182.6K
Create a Pro Website
⏲ 10 minutes 50 seconds 👁 8.2K
Meet the 24-year old who makes £70k-a-month reselling household items, laptops and coffee machines.<br/><br/>Entrepreneurial Luke Williams, 24, started selling old mobile phones on eBay while working on a building site - as his salary didn't cover his bills.<br/><br/>He branched out to source household items - like bleach, deodorant and washing up liquid - from wholesalers and sell them on Amazon at a higher price in June 2021. <br/><br/>Luke started making £1k-a-month from his side hustle but after his earnings increased to £30k-a-month in 18 months he quit his job as a builder in January 2022.<br/><br/>In his first 12 months, Luke raked in £180k profit and now earns £70k-a-month selling electronics like computers, laptops and TVs.
⏲ 1:0 👁 725K
Craylor Made
⏲ 15 minutes 12 seconds 👁 15.1K
Jamie Marsland
⏲ 6 minutes 59 seconds 👁 3.9K
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