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Start for freeHarley Sitner's journey from Microsoft executive to owner of Peace Vans, a beloved brand in the VW camper van world, offers valuable lessons for aspiring business buyers. His story demonstrates how following your passion and gut instinct can lead to unexpected success, even when conventional wisdom might suggest otherwise.
The Path to Business Ownership
Harley's path to business ownership began during his time at Microsoft, where he worked on high-level strategic projects and even presented to Bill Gates and Steve Ballmer. Despite his success in the corporate world, Harley felt unfulfilled and began to explore the idea of owning a small business.
A pivotal moment came during a business trip where Harley visited small business owners across the US. He was particularly impressed by an HVAC business owner in Lawrence, Kansas, who seemed to have found the perfect balance of financial success and personal fulfillment. This experience opened Harley's eyes to the potential of small business ownership.
The Flower Brokerage Business
Harley's first foray into business ownership was a flower brokerage company called West Coast Nurseries. He was drawn to the business model and saw potential for growth by leveraging his corporate skills and implementing new technologies. While the business was financially successful, Harley found that it didn't align with his personal strengths and desires.
The Birth of Peace Vans
Harley's journey with Peace Vans began when he purchased a VW camper van for personal use in 2010. After experiencing poor service at a local repair shop called Peace Van, he learned that the owner was considering selling the business. Despite the shop's small size and poor reputation, Harley saw potential.
The Acquisition
Negotiating with the unsophisticated owner proved challenging, but Harley ultimately purchased the business for about $100,000 in cash, with an additional $50,000 potential earn-out. While this may have seemed like an overpayment for a failing business, Harley's gut instinct and passion for the VW van culture drove his decision.
Building a Brand
Over the past 12 years, Harley has transformed Peace Vans from a small, struggling repair shop into a beloved brand with multiple business lines:
- Peace Vans Vintage: Classic Volkswagen repair and restoration
- Peace Vans Modern: Building modern camper vans for Mercedes and Volkswagen
- Modern service business: Servicing modern camper vans
- Peace Vans Electric: Converting classic air-cooled Volkswagens to electric vehicles
- Peace Van Rentals: Renting camper vans in the Pacific Northwest and Baja California
- Seeker: An app for finding campgrounds and connecting with other road trippers
Harley emphasizes that the true value of Peace Vans lies in its brand. The strong brand allows the company to launch new products and services with built-in trust and customer enthusiasm.
Lessons for Business Buyers
Harley's story offers several valuable lessons for aspiring business buyers:
Follow Your Passion
While it's important to consider financial factors, don't underestimate the power of pursuing a business that aligns with your personal interests and values. Harley's success with Peace Vans stems from his genuine passion for the VW van culture.
Leverage Your Strengths
Choose a business that allows you to utilize your core skills and strengths. For Harley, his background in sales, marketing, and branding was a perfect fit for building the Peace Vans brand.
Consider the Brand Potential
When evaluating a business, think about its potential for brand building, especially if you have skills in this area. A strong brand can open doors for future growth and expansion.
Be Prepared for Challenges
Harley notes that even 12 years into the business, he still faces periodic "existential crises." The key is learning how to handle these challenges and developing resilience over time.
Think Long-Term
Harley's success with Peace Vans has come through consistent effort and growth over more than a decade. Be prepared for a long-term commitment when buying and growing a business.
Conclusion
Harley Sitner's journey from Microsoft executive to the owner of Peace Vans demonstrates the potential rewards of following your passion in business acquisition. While his story may not be typical, it offers valuable insights for those considering buying a small business. By aligning your skills and interests with the right opportunity, you too can build a successful and fulfilling business venture.
Article created from: https://www.youtube.com/watch?v=HsyV8AaODh4