Reviving the American Dream on Main Street
Joined March 2023
- Tweets 66
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- Followers 1,602
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Apr 10
Our CEO @buysellsmb chats with board member and investor @JTLonsdale on the @AmOptimistShow for one of his first full sit-down interviews to discuss their optimism for Main Street.
America is at an inflection point. Small businesses are the lifeblood of communities and the backbone of everything this country was built on. But every year, more owners are retiring than there are young people stepping into ownership, and many are getting bought out by coastal private equity firms.
Will shares why it's important to have a country of owners, and how AI may be the best thing to ever happen to small businesses.
The vision is not just to "create more millionaires on Main Street", but to make sure these local businesses stay in the hands of their communities.
Full episode below.
x.com/AmOptimistShow/status/…
EPISODE 149: The Small Business Succession Crisis & New Possibilities in the AI Age
@JTLonsdale sits down with @BuySellSMB, Founder & CEO @OperateUSA.
(00:00) Episode intro
(01:25) Will’s entrepreneurial journey
(04:15) The small business succession crisis
(06:40) American Operator’s approach vs. private equity
(08:35) "We're creating millionaires on Main Street"
(11:55) Does AI mean boom or bust for small business
(15:55) Forget law school? Buy a small business instead?
(21:20) AI use cases for small business
(23:00) Why many SMBs shut down instead of sell
(26:00) How the operate-to-own model works
(33:50) Optimism for Main Street America
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American Operator retweeted
Jun 9
The SMB roadshow continues... upcoming dates:
- Philadelphia (7/11)
- Jersey Shore (7/12-7/13)
- Central PA (7/14-7/15)
- NYC (7/16)
- Long Island (7/17)
- Bismarck, North Dakota (7/18-7/19)
If you're in any of these spots, lmk!!
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American Operator retweeted
Jun 8
American Operator (@OperateUSA) Founder/CEO Will Fry (@BuySellSMB ) on the myth that drives people to business ownership:
“I meet a lot of people who say: ’I want to leave corporate America and do business ownership because I’ll have freedom and autonomy.’”
“It’s the least free thing you could ever do.”
“You’re a slave to yourself.”
Apr 10
The American Dream isn't dead.
Had a great time chatting small business, AI and the case for small business ownership with @JTLonsdale.
There's a lot to be optimistic about on Main Street 🇺🇸🇺🇸
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American Operator retweeted
"Most of the folks that we partner with are putting next to nothing into the deal."
Will Fry (@BuySellSMB), founder/CEO of American Operator (@OperateUSA), on the operate-to-own model: 10% at close, earning into 70% over a decade, on a $120–200K base.
Apr 10
Our CEO @buysellsmb chats with board member and investor @JTLonsdale on the @AmOptimistShow for one of his first full sit-down interviews to discuss their optimism for Main Street.
America is at an inflection point. Small businesses are the lifeblood of communities and the backbone of everything this country was built on. But every year, more owners are retiring than there are young people stepping into ownership, and many are getting bought out by coastal private equity firms.
Will shares why it's important to have a country of owners, and how AI may be the best thing to ever happen to small businesses.
The vision is not just to "create more millionaires on Main Street", but to make sure these local businesses stay in the hands of their communities.
Full episode below.
x.com/AmOptimistShow/status/…
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American Operator retweeted
May 21
Could small business ownership be a key tool for combating America's growing crisis of meaning?
@BuySellSMB thinks so.
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American Operator retweeted
May 20
Why does it matter if small businesses are struggling?
Won't big businesses or private equity or UBI simply replace them without consequence?
@BuySellSMB argues, "You NEED a society of owners!"
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American Operator retweeted
May 19
"Our mission statement is to 'Revive the American Dream,'" says @BuySellSMB.
Will explains what @OperateUSA does and why it's so important to the prosperity of America's next generation.
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American Operator retweeted
May 18
Spent an hour with Nick on why local ownership matters.
The case isn't just economic. It's societal.
Small businesses are the #1 trusted institution. Their owners serve as leaders in their communities. Their profits bolster towns through donations and volunteer work.
There is no better way to achieve the American Dream than through owning a small business. 🇺🇸🇺🇸
May 18
America is sitting on a time bomb. Over half of our nation’s small business owners are approaching retirement, and most of them don’t have a plan other than selling out to private equity.
Wherever America’s small businesses go, the state of the country is sure to follow.
@BuySellSMB and @OperateUSA have a totally novel solution to solve this succession crisis. The entrepreneur may be endangered, but he’s not an extinct species yet, and Will and his team are ready to make a big bet in order to preserve our heritage of capitalistic freedom for another generation.
I really enjoyed this episode and I highly recommend it to you.
(02:21) What Is American Operator
(06:32) Refusing the McKinsey Path
(09:21) How the American Operator Model Works
(14:28) What Happens to Main Street if Nobody Solves This Problem
(17:42) Civic Renewal
(19:59) Is Private Equity Evil?
(24:26) How the SBA Seven A Loan Program Works
(29:45) The Deez Nuts Grill Brush and American Manufacturing
(31:22) What Makes the Best Operator
(35:46) Hiring Philosophy and Interviewing
(38:27) How American Moment and American Operator Find Talent
(48:51) The SBA Loan Cap Needs to Rise With Inflation
(50:41) Fixing the Purgatory Between Seven A and SBIC
(53:28) Rural America Is Where This Matters Most
(55:24) Defining the Win — 10,000 Businesses and a Main Street ETF
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American Operator retweeted
May 18
America is sitting on a time bomb. Over half of our nation’s small business owners are approaching retirement, and most of them don’t have a plan other than selling out to private equity.
Wherever America’s small businesses go, the state of the country is sure to follow.
@BuySellSMB and @OperateUSA have a totally novel solution to solve this succession crisis. The entrepreneur may be endangered, but he’s not an extinct species yet, and Will and his team are ready to make a big bet in order to preserve our heritage of capitalistic freedom for another generation.
I really enjoyed this episode and I highly recommend it to you.
(02:21) What Is American Operator
(06:32) Refusing the McKinsey Path
(09:21) How the American Operator Model Works
(14:28) What Happens to Main Street if Nobody Solves This Problem
(17:42) Civic Renewal
(19:59) Is Private Equity Evil?
(24:26) How the SBA Seven A Loan Program Works
(29:45) The Deez Nuts Grill Brush and American Manufacturing
(31:22) What Makes the Best Operator
(35:46) Hiring Philosophy and Interviewing
(38:27) How American Moment and American Operator Find Talent
(48:51) The SBA Loan Cap Needs to Rise With Inflation
(50:41) Fixing the Purgatory Between Seven A and SBIC
(53:28) Rural America Is Where This Matters Most
(55:24) Defining the Win — 10,000 Businesses and a Main Street ETF
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American Operator retweeted
May 6
Fun SMB meetup in DC with some great local owners and the hardworking team at the SBA 🇺🇸
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May 5
Defending Main Street is a national effort.
For National Small Business Week, we brought a room full of owners to the American Operator HQ and hosted @SBAgov Administrator @SBA_Kelly to have a direct conversation with the hardworking owners of America and address some of the most pressing topics on their minds.
Thank you for stopping by!
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May 4
May 4
One of the best parts of our mission is the people who show up to help.
Jarett is one of those people. An amazing guy and a huge advocate for small business.
He threw the American Operator logo on his car this season.
Team is honored!! Race fast, @AndrettiGlobal!!!
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Apr 30
The same firms that priced a generation out of homeownership are now buying up Main Street.
Before 2015, no institution owned more than 1,000 single-family homes. Then the market changed. Prices went up, competition disappeared, and wealth stopped circulating locally.
Judd Goodrich our Head of Investments at American Operator explains the same playbook hitting small business on Main Street and how it affects communities.
"The reality is if I need a new heating cooling unit, and I go get five bids, all those are owned by the same group. I think I got a decent deal, but it was all the same firm."
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American Operator retweeted
Apr 28
We now have a flier. Come hang.
Apr 28
I'll be back in DC next Tuesday. Anyone from SMBtwit in the area? Going to host a happy hour.
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American Operator retweeted
Apr 25
We’ve worked with tens of thousands of buyers and are processing nearly 100 offers every week
Speaking from experience, AO’s process and docs are world class.
But not only do they have great docs/process, they also have a team that genuinely respects entrepreneurs and goes in trying to build a relationship with the exiting owner. Highly recommend 🔥
Apr 24
The best thing we've added to our deal process is a "Key Deal Terms" step.
It's a plain-english doc that holds zero legal weight.
7-8 pages. Every business term spelled out. Finalized ~30 days before closing.
Sellers stop feeling blindsided. Legal bills drop. Less chaos.
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American Operator retweeted
Apr 23
We had a fun event at HQ yesterday.
@SBA_Kelly joined us to chat about Main Street and the work her team is doing to support local SMBs.
In honor of the fight she’s leading for American owners, I presented her with her own “Not for Baseball” bat.
I assume it can get a lot of use in Washington 😂😂
Thanks to all the owners who joined us!
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Apr 22
Reindustrializing America isn't about building bigger mega-factories. It starts on Main Street.
For decades, the playbook was simple: move production to where labor was cheapest. China did a good job at this by building giant, vertically integrated factories backed by government dollars.
But copying that model isn't the answer. Bret Boyd, founder of @sustainmenttech, makes the case that America wins by building the next 50 years of infrastructure through a country of small, local operators.
As Bret says: "America's strengths are initiative, creativity and dynamism."
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Apr 17
Private equity now has to grow 2.5x faster to hit the same returns as 2010. @buysellsmb breaks down what that math means for Main Street.
There are now over 17,000 private equity funds in the U.S. all competing for the same businesses.
As returns compress, the old playbook stops working. So the model shifts to more leverage, higher purchase prices, and pressure to grow faster.
As Will puts it: “They're just borrowing money and hoping someone buys it for more.”
And for small businesses and communities, this rarely results in aligned incentives.
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