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_we-are-closer-to-champions-league-qualification-guardiola.jpg "Despite going top of the table, Pep Guardiola is taking the small wins from Man City's victory over Luton")
⏲ 0:41 👁 405K
_this-billionaire-bought-over-a-thousand-small-businesses-and-never-lost-a-dime.jpg "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 👁 565K
_adelaide-renters-continue-to-struggle-with-low-vacancy-rate.jpg "New data shows renters continue to struggle through competitive market conditions with Adelaide becoming the hardest city to find a rental in March. The State Government says its focused on improving housing supply, but people on the hunt for somewhere to live now say that can't come soon enough.")
⏲ 1:51 👁 39.7M
_haaland-targeting-more-than-just-ballon-d39or-crowns-guardiola.jpg "Manchester City boss Pep Guardiola said striker Erling Haaland will always have more room to improve")
⏲ 1:7 👁 355K
_united-send-a-message-that-the-future39s-bright-ten-hag.jpg "Ten Hag was full of praise for teenager Willy Kambwala after starring in Man United's 2-2 draw with Liverpool.")
⏲ 0:56 👁 350K
_barca-fighting-for-title-because-i-chose-to-quit-xavi.jpg "Xavi believes Barcelona's season would have been a 'disaster' had he not made the decision to leave the club")
⏲ 0:34 👁 430K
_guardiola-responds-to-rodri39s-39rest39-plea.jpg "Manchester City boss Pep Guardiola responds to Rodri saying he 'needs a rest' after their Real Madrid clash")
⏲ 0:54 👁 340K
_terzic-remains-positive-despite-dortmund-sitting-fifth.jpg "Edin Terzic remains positive Dortmund can finish in the top four after their 1-0 home defeat to Stuttgart.")
⏲ 0:42 👁 335K
_howe-striving-for-success-during-challenging-season.jpg "Eddie Howe refuses to compare last season's achievements to this season's, but is enjoying the challenge.")
⏲ 0:47 👁 320K
_pochettino-to-use-caution-in-calling-out-chelsea-squad.jpg "Chelsea boss Mauricio Pochettino regrets questioning his squad's maturity after their EPL draw with Sheffield.")
⏲ 1:25 👁 310K
_fly-over-mars39-39noctis-labyrinthus39-in-this-visualization-from-spacecraft-data.jpg "Data from the Mars Express orbiter has been used to create a visualization of \")
⏲ 3:46 👁 445K
_inflation-is-creeping-back-up-again-heres-how-to-get-through-it.jpg "The latest data shows inflation is on the rise, and consumers are paying more everywhere from the grocery store to the gas pump. But the economy should be OK... ‘unless something breaks.’")
⏲ 8:34 👁 13.5M
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_we-are-closer-to-champions-league-qualification-guardiola.webp "Despite going top of the table, Pep Guardiola is taking the small wins from Man City's victory over Luton")
_this-billionaire-bought-over-a-thousand-small-businesses-and-never-lost-a-dime.webp "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.")
_adelaide-renters-continue-to-struggle-with-low-vacancy-rate.webp "New data shows renters continue to struggle through competitive market conditions with Adelaide becoming the hardest city to find a rental in March. The State Government says its focused on improving housing supply, but people on the hunt for somewhere to live now say that can't come soon enough.")
_haaland-targeting-more-than-just-ballon-d39or-crowns-guardiola.webp "Manchester City boss Pep Guardiola said striker Erling Haaland will always have more room to improve")
_united-send-a-message-that-the-future39s-bright-ten-hag.webp "Ten Hag was full of praise for teenager Willy Kambwala after starring in Man United's 2-2 draw with Liverpool.")
_barca-fighting-for-title-because-i-chose-to-quit-xavi.webp "Xavi believes Barcelona's season would have been a 'disaster' had he not made the decision to leave the club")
_guardiola-responds-to-rodri39s-39rest39-plea.webp "Manchester City boss Pep Guardiola responds to Rodri saying he 'needs a rest' after their Real Madrid clash")
_terzic-remains-positive-despite-dortmund-sitting-fifth.webp "Edin Terzic remains positive Dortmund can finish in the top four after their 1-0 home defeat to Stuttgart.")
_howe-striving-for-success-during-challenging-season.webp "Eddie Howe refuses to compare last season's achievements to this season's, but is enjoying the challenge.")
_pochettino-to-use-caution-in-calling-out-chelsea-squad.webp "Chelsea boss Mauricio Pochettino regrets questioning his squad's maturity after their EPL draw with Sheffield.")
_fly-over-mars39-39noctis-labyrinthus39-in-this-visualization-from-spacecraft-data.webp "Data from the Mars Express orbiter has been used to create a visualization of \")
_inflation-is-creeping-back-up-again-heres-how-to-get-through-it.webp "The latest data shows inflation is on the rise, and consumers are paying more everywhere from the grocery store to the gas pump. But the economy should be OK... ‘unless something breaks.’")
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