My First Million: How I Bought a $3.4M Business For $200K

Release Date: July 4, 2025
Host: Sean Parr and Shaan Puri
Guest: Dan Certainer

Introduction

In this insightful episode of My First Million, hosts Sean Parr and Shaan Puri delve deep into the real-life journey of Dan Certainer, a college buddy of Sean's, who successfully transitioned from a high-profile tech career to owning a thriving packaging distribution business. Contrary to the glossy portrayals often seen online, Dan shares the unfiltered realities of purchasing and running a business, providing invaluable lessons for aspiring entrepreneurs.

The Journey to Buying Fleet Packaging

[00:00] Sean Parr:
"If you've ever thought about buying a business, then this episode is going to be for you..."

Dan Certainer outlines his path from working at Facebook and ascending to the position of CTO at Namely, a payroll company, to deciding to acquire Fleet Packaging—a company specializing in packaging distribution for large U.S. retailers.

[03:15] Dan Certainer:
"So I bought a company called Fleet Packaging. We work with large retailers who need packaging solutions like to-go bags..."

First 100 Days: Building Foundations

Dan emphasizes the critical initial phase post-acquisition, where understanding the business operations and solidifying relationships with existing clients are paramount.

[22:49] Dan Certainer:
"This is great. It's going to be great. This is going to be easy. I'm going to be rich."
— Reflecting on his initial enthusiasm.

However, reality sets in as he navigates the complexities of running Fleet Packaging, moving beyond mere excitement to face the operational challenges.

Challenges and Insights

Dan candidly discusses the hurdles faced during due diligence, negotiating the purchase, and managing financial obligations. He highlights the importance of thorough research and not succumbing to the allure of "seemingly safe" businesses that might actually be just jobs in disguise.

[34:03] Sean Parr:
"Don't buy a job. You bought an asset, a real business."

[42:47] Dan Certainer:
"It's not nearly as easy as Cody Sanchez makes it seem..."

Dan also touches on the psychological journey, describing the emotional lows during the acquisition process and the critical role of mentorship and honest feedback in overcoming setbacks.

Business Growth and Performance

Since the acquisition, Fleet Packaging has seen substantial growth. Dan shares impressive figures showcasing the company's trajectory:

[16:05] Dan Certainer:
"I bought the business for $3.4 million. It was making around $8 to $11 million in revenue annually with $800,000 in profit."

[16:37] Sam Puri:
"You've creamed it. You crushed it."

[17:58] Dan Certainer:
"We grew our revenue to $13.8 million and doubled our profit to $1.7 million last year."

This remarkable growth was achieved through strategic positioning, post-COVID market adjustments, and leveraging Fleet Packaging's untapped potential.

Lessons Learned

Dan imparts several key lessons from his experience:

1. Thorough Due Diligence:
   Always dig deep beyond surface-level information. Investigate financials meticulously to uncover any hidden issues.

2. Avoiding the "Job Trap":
   Ensure that the business you buy is scalable and not just a means to secure a steady income.

3. Resilience and Patience:
   The search for the right business can be daunting and time-consuming. Persistence is crucial.

4. Delegation and Scaling:
   As the business grows, strategically hire operators to manage day-to-day operations, allowing for greater focus on scaling and strategic initiatives.

[34:17] Dan Certainer:
"Not rushing the search and trusting the process is key to finding a solid business."

Brainstormed Business Ideas

Toward the end of the episode, Dan and the hosts brainstorm several unconventional and "unsexy" business ideas that present lucrative opportunities due to low competition and steady demand:

1. Family Entertainment Centers:
   Concepts like laser tag bowling alleys or climbing gyms that cater to diverse age groups and activities.

2. Specialized Packaging Solutions:
   Niche areas within packaging that can be automated and scaled efficiently.

3. Fun-to-Run Businesses:
   Ventures that align with personal interests yet remain profitable, such as balloon delivery services or specialized freight handling.

[56:26] Dan Certainer:
"Everything's a business. Even the display holders for gum are businesses in themselves."

[76:14] Dan Certainer:
"I want to buy from someone who’s done it, like the owner who’s retiring and ready to pass on the business."

Conclusion and Takeaways

Dan Certainer's journey from corporate roles to owning Fleet Packaging serves as a blueprint for aspiring entrepreneurs looking to buy existing businesses. The episode underscores the importance of realistic expectations, diligent research, and strategic risk-taking. It dispels the myths of effortless business ownership, highlighting that success comes from hard work, informed decision-making, and continuous learning.

[54:27] Sam Puri:
"If you're the type of person who plays a board game and memorizes all the rules, this buying a company could be life-changing for you."

[80:14] Sean Parr:
"Congrats, Dan. I'm blown away by what you did with Fleet Packaging. You are officially Dan the Bag Man."

For listeners considering acquiring a business, this episode offers a candid look into the process, emphasizing that while buying an existing business can be a powerful way to achieve entrepreneurial success, it requires dedication, thorough due diligence, and a willingness to navigate unexpected challenges.

Notable Quotes

• Dan Certainer [00:00]:
  "There are a lot of people selling you the dream of buying a business and making it work passively, but those are just dreams."

• Sean Parr [03:10]:
  "Dan is the bag man now, but getting there was a fun journey."

• Dan Certainer [19:33]:
  "We put our house and 401k on the line. This is it."

• Sean Parr [34:03]:
  "Don't buy a job. You bought an asset, a real business."

• Dan Certainer [42:47]:
  "It's not nearly as easy as Cody Sanchez makes it seem."

• Sam Puri [54:29]:
  "If you are an entrepreneurial person willing to sweat the details, buying a company can be awesome."

This episode offers a treasure trove of practical advice, personal anecdotes, and strategic insights, making it a must-listen for anyone contemplating the purchase of an existing business.