Frank Swiger Ohio Discusses the Challenges of Acquiring 13 Businesses in 10 years

Frank Swiger Ohio

January 25, 2021

Frank Swiger Ohio

Frank Swiger Ohio Discusses the Challenges of Acquiring 13 Businesses in 10 years

As many entrepreneurs can attest, running a small business is difficult work. Small business owners and managers must frequently put in long hours overseeing the business, coordinating staff, and delivering customer delight. Entrepreneur Frank Swiger Ohio, the CEO of S&S Training Acquisitions Corp., has acquired and managed 13 businesses in the last decade, and now he’s going to share some insights.

“You have to be mentally prepared,” Frank Swiger Ohio says. “You might think running a small business is a dream, and it can be, but it’s also a lot of work. You often don’t set your own hours, for example, customers and business needs do.”

The Bureau of Labor Statistics has found that roughly half of all small businesses will fail by their fifth year. This may mean that the entrepreneur could waste money and several years of their life on an ultimately unsuccessful venture.

“Whether you’re starting a new business from scratch or acquiring an established company, you have to keep the risk of failure in mind,” Frank Swiger Ohio argues. “At the same time, you can’t let negative thoughts cloud your judgment.”

Frank Swiger Ohio Discusses Risk Reduction

There are steps small business owners can take to reduce the risk of failure. Before acquiring a company, Frank Swiger Ohio always takes time to understand the company’s financial position, risks, threats, and overall market conditions. Awareness allows him to develop effective operational plans.

“I don’t acquire companies in a haphazard way,” Frank Swiger Ohio says. “I dig into their finances, I look for market threats and also opportunities. Before acquiring a company, I make sure I have a clear path forward with achievable but defined objectives in mind.”

That said, when it comes to running a small business, the on-team talent is often just as important as market and business conditions. Frank Swiger Ohio urges entrepreneurs starting or acquiring businesses to take a good, sober look at the talent on staff.

“When you acquire a business, you’re not just buying brands and facilities, you’re acquiring talent,” Frank Swiger Ohio notes. “I pay a lot of attention to talent before and after I acquire a business. You want to find hardworking, skilled staff members with the right education and qualifications. Many businesses are often people-oriented, so entrepreneurs must be people-focused.”

Frank Swiger Ohio believes that when acquiring a new firm, it’s important to have an idea of how the new company will fit in with the established organization. This includes talent, facilities, operations, and more. If you don’t have a clear course for integration plotted out, the acquired business could become a burden rather than a resource, Frank Swiger Ohio argues.

“Before I sign the dotted line and acquire a business,” Frank Swiger Ohio says, “I need to have a very clear plan for integration. The company needs to add to my current businesses and fit well within my portfolio. When possible, I want to secure increased efficiency and market access. There must be a synergy between the soon-to-be acquired company and my other businesses.”