Ace Chapman – Buying and Selling Businesses (BOV)
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Ace Chapman bought his first business when he was nineteen. It was an online stock market simulator called CoolWallStreet. After selling it and seeing the benefits in buying a business over starting one, he caught the business buying bug. Since then he has bought and sold over thirty businesses and has helped his clients all over the world buy over one hundred businesses.
Ace Chapman Vroom Veer Stories
Defied teachers in school when told to memorize the names of bones; seemed stupid to do
Bought his first business when he was 19 and in college; borrowed most of $70K to make the deal
Too make the deal happen, his investors insisted that he quit school; big scary veer
Was lucky to sell this “.com” business after the .com bust with a little money left over
His emotions went from “I’m set for life” to “I’m a failure”
Got a job at a bank; told he couldn’t have an assistant; rented space across the street & hired his own
Bank found out he had hired his own help; asked to resign
Started his own mortgage company and bought a real estate company and kept going
Sold mortgage/real estate company right before the 2008 bust; whew
Found a mentor who helped him realize that it is easier to buy a business than to build one from scratch
Ended up building a business from scratch to buy, grow, and sell businesses in the under $3 million space
Connections