I'm looking for a "search fund" or "search fund accelerator" to help me find and acquire a single business to run.

A search fund accelerator (SFA) or incubator provides aspiring entrepreneurs (searchers ) with startup capital, structured mentorship, operational resources, and pre-committed equity to find, acquire, and run a single company.

Unlike traditional solo search funds where you independently raise initial search capital from 10–15 private investors, accelerators streamline the funding and training process in exchange for a customized equity share.

Prominent Search Fund Accelerators

Key Differences: Traditional vs. Accelerator Model

• Traditional Search Fund: You pitch individual investors for a 2-year salary/expense pool, conduct a solo search, and then go back to them to fund the acquisition.
• Accelerator Model (SFA): You join a structured cohort, receive direct operational toolkits, data access, and centralized backing that is already aligned to fund the final purchase.

To explore current openings and community insights on active investors, visit platforms like Searchfunder or review deep-dives via SMEVentures.

If you want, tell me:

• What is your geographical preference or target industry?
• Do you prefer a solo traditional search or a structured accelerator cohort?

I can narrow down the right partner program for your background.

Yes — what you’re describing is usually called Entrepreneurship Through Acquisition (ETA), and there are several ways to pursue it.

The important distinction is that you don't necessarily need to start your own search fund. You can join an accelerator that provides some combination of search capital, coaching, deal sourcing, investor capital, and post-acquisition support.

My top starting point: Search Fund Accelerator

searchfundaccelerator.com is probably the closest match to what you described.

SFA is specifically built around the model of “find a business → acquire it → become the CEO.” It provides:

• Training and a structured search process
• Coaching throughout the search
• Help identifying and evaluating acquisition targets
• Due-diligence and transaction support
• A committed pool of equity capital for acquisitions
• Mentors and experienced investors
• Support after you become CEO

SFA currently says it is recruiting for its next cohort. Its typical candidate is a highly motivated MBA graduate; it accepts solo searchers, requires U.S. work authorization, and searches are nationwide within the U.S.

It also reports that 85% of its searchers since 2015 have successfully bought a business.

But there are other paths

The traditional search-fund model is remarkably well established. Stanford's newly released 2026 Search Fund Study reports that approximately 58% of search funds historically have successfully acquired a company, with acquisitions typically taking around 20 months. The median purchase price for acquisitions in 2024–25 was $16 million.

However, $16 million is not a requirement for you. That's the median among traditional search funds, and the self-funded ETA market can target substantially smaller companies. SearchFund.org describes self-funded searches as increasingly common and notes that entrepreneurs often target businesses producing roughly $500K–$2.5M of EBITDA.

I would investigate these three routes

1. Search Fund Accelerator — highest-touch option

This is the one I'd investigate first if your goal is:

“I want someone experienced to help me find a good company, finance the acquisition, and teach me how to become the CEO.”

2. Traditional search fund — more investor-driven

You raise money from search-fund investors to finance your search, typically for 12–24 months. Once you find the right company, those investors provide the acquisition capital.

Stanford's gsb.stanford.edu is an excellent place to understand the economics and mechanics before talking to investors. It's specifically designed for entrepreneurs considering this route.

3. Self-funded ETA — potentially very attractive

If you have some capital, good credit, relevant operating experience, or can bring in a small amount of investor equity, self-funded ETA may actually be a better fit than a traditional search fund.

You find the company yourself, then potentially combine:

your equity + outside equity + seller financing + SBA/bank debt

to buy it.

The major advantage is that you can potentially retain substantially more ownership than in a conventional search fund.

---

The key question is actually what kind of business you want to buy

Before choosing an accelerator, I'd want to know four things:

1. How much personal capital could you put toward the search/acquisition?
2. What's your professional background? (industry, management, sales, finance, operations, etc.)
3. What size business are you imagining? For example, $500K, $2M, $5M, or $20M+ purchase price.
4. Are you looking to personally operate the business as CEO, or ultimately own it and hire someone else to run it?

If you give me those four answers, I can narrow this down to the 5–10 search funds/accelerators/investor groups that are actually appropriate for your situation, including their investment criteria, typical deal size, geography, candidate requirements, and how you would approach them.

The traditional search-fund model is remarkably well established. Stanford's newly released 2026 Search Fund Study reports that approximately 58% of search funds historically have successfully acquired a company, with acquisitions typically taking around 20 months. The median purchase price for acquisitions in 2024–25 was $16 million.

However, $16 million is not a requirement for you. That's the median among traditional search funds, and the self-funded ETA market can target substantially smaller companies. SearchFund.org describes self-funded searches as increasingly common and notes that entrepreneurs often target businesses producing roughly $500K–$2.5M of EBITDA.

I would investigate these three routes

1. Search Fund Accelerator — highest-touch option

This is the one I'd investigate first if your goal is:

“I want someone experienced to help me find a good company, finance the acquisition, and teach me how to become the CEO.”

2. Traditional search fund — more investor-driven

You raise money from search-fund investors to finance your search, typically for 12–24 months. Once you find the right company, those investors provide the acquisition capital.

Stanford's gsb.stanford.edu is an excellent place to understand the economics and mechanics before talking to investors. It's specifically designed for entrepreneurs considering this route.

3. Self-funded ETA — potentially very attractive

If you have some capital, good credit, relevant operating experience, or can bring in a small amount of investor equity, self-funded ETA may actually be a better fit than a traditional search fund.

You find the company yourself, then potentially combine:

your equity + outside equity + seller financing + SBA/bank debt

to buy it.

The major advantage is that you can potentially retain substantially more ownership than in a conventional search fund.

---

If you want to become an equity-owning CEO by acquiring an existing small-to-midsize business, partnering with an established search fund accelerator or traditional search fund investor is a proven path. Accelerators differ from traditional search funds by offering a more structured, micro-LBO or cohort-based approach, often providing centralized sourcing support, operational playbooks, and guaranteed equity capital for the acquisition.

Top search fund accelerators and institutional search fund investors include:

1. • Search Fund Accelerator (SFA) - Founded by Timothy Bovard, SFA is one of the most prominent accelerator models. They work with a select cohort of entrepreneurs on a structured timeline, providing search funding, direct equity for the acquisition, and deep operational mentorship.
2. • Pacific Lake Partners - One of the largest and most active institutional investors in the search fund ecosystem, backing traditional searchers and offering extensive resources, networking, and follow-on capital.
3. • Relay Investments - Specializes in backing first-time entrepreneurs (often recent grads or aspiring operators) to acquire and run lower middle-market businesses, focusing heavily on a mentorship-driven model.
4. • Halstatt Legacy Partners (HLP) - Focuses on long-term partnerships, providing 100% of the equity capital plus senior debt alignment for acquiring sustainable, US-based small businesses.
5. • Anacapa Partners - An early pioneer that invests heavily in traditional searchers and self-funded searchers, providing capital and strategic guidance through the acquisition and growth phases.

To help narrow down which of these models fits your background and goals, could you share:

• Are you looking for a traditional search fund model (raising your own pool from 10–15 individual investors) or an accelerator model (joining a structured program with pre-backed capital)?
• What is your target geography or industry focus?

Yes — what you’re describing is Entrepreneurship Through Acquisition (ETA), usually pursued through a search fund, self-funded search, or search fund accelerator.

The key distinction is that you don't want to start a company; you want to find an existing profitable small/lower-middle-market company, acquire it, and become its CEO/operator. Stanford describes the traditional search fund exactly this way.

The options I'd look at

1. searchfundaccelerator.com — probably the closest match

This is the most literal answer to what you're asking for.

SFA selects individual entrepreneurs, helps them conduct the search, provides coaching/resources, and—critically—provides the equity capital when you're ready to acquire a company. SFA says it has worked with 50+ searchers, with 27 having acquired businesses and become CEOs.

A few important characteristics:

• Solo searchers only — no partner required.
• Searches are nationwide in the U.S.
• You need U.S. work authorization.
• They typically look for highly motivated MBA graduates, although their broader materials emphasize entrepreneurial ability and character.
• They provide coaching, deal evaluation, diligence assistance, sourcing tools, and acquisition capital.

If your desired outcome is essentially "help me find a company, finance the acquisition, and give me the support to become its CEO," I'd put SFA at the top of the list.

2. pacificlake.com — major search-fund investor

Pacific Lake isn't quite an "accelerator" in the SFA sense, but it's one of the prominent institutional investors in the search-fund ecosystem.

They say they've backed 120+ businesses and have had 200+ search-fund CEOs pursue entrepreneurship through acquisition with their support. They help with the search, diligence, acquisition and post-close operation.

This is worth pursuing if you're interested in the traditional funded-search model and want a serious investor/mentor behind you.

3. relayinvestments.com — another one I'd contact

Relay is particularly interesting because they explicitly work with people who are considering searching, not just people who already have a fund.

They provide mentorship around search strategy, sourcing, diligence, negotiation and post-acquisition value creation. Relay says it typically invests $1M–$3.5M into a searcher's eventual acquisition and generally takes a 15–25% position in the search fund.

They also consider both solo and partnered searches.

4. searchfund.org — useful ecosystem directory

This isn't the accelerator I'd choose instead of the above. It's more of a hub for the ETA ecosystem.

It maintains resources covering:

• search-fund investors
• accelerators
• self-funded searches
• acquisition financing
• deal platforms
• search-fund education
• SBA lending

It also points out an important alternative: self-funded search, which has become an increasingly common route to buying a small business.

There's an important question: funded vs. self-funded

I'd think about your choice this way:

A traditional search fund can be a particularly attractive setup because you aren't expected to personally have enough money to buy a multimillion-dollar company. Investors finance the search and subsequently invest in the acquisition.

What I would do in your shoes

I wouldn't start by looking at businesses for sale.

I'd first determine whether you're a good candidate for funded ETA and then approach the capital/support ecosystem. In particular, I'd:

1. Study the 2026 Stanford Search Fund Primer. It's unusually good because it covers the current economics, search process, investor relationships, deal structure and operating realities.
2. Talk to SFA.
3. Talk to Pacific Lake.
4. Talk to Relay.
5. Simultaneously investigate self-funded ETA/SBA financing so you understand your alternative if you don't get into an accelerator.
6. Develop a clear answer to: "What kind of business do I want to own and why am I the right person to run it?"

That last point matters more than it might initially seem. Search funds aren't simply "people who want to buy a business." Investors are betting on you as the future CEO. The strongest candidates can articulate why they can take an existing business, preserve what works, lead its employees, and grow it.

And the 2026 Stanford research suggests the ecosystem has become considerably more professionalized; searchers increasingly need differentiated sourcing, credibility with sellers, industry knowledge, and operating ability rather than simply blasting acquisition emails.

If you tell me your background (age/career, MBA or not, management experience, industries you know, approximate personal capital, and whether you'd relocate), I can narrow this down to the 5–10 search-fund investors/accelerators you are actually likely to be a fit for, including what they look for and how I'd approach each one.

I wouldn't start by looking at businesses for sale.

A search fund accelerator (often part of the Entrepreneurship Through Acquisition or ETA ecosystem) replaces the traditional, time-consuming process of pitching 10 to 15 individual angel investors for search capital. Instead, an accelerator funds your salary, travel, and deal costs upfront during the search phase, and provides committed capital for the acquisition in exchange for equity.

Top search fund accelerators and institutional search partners in the space include:

1. Search Fund Accelerator (SFA) – Widely recognized as the pioneer of the search accelerator model (founded in 2015), SFA operates cohorts (typically out of locations like Boston and New Orleans) providing complete search funding and 100% of the required acquisition equity.
2. Pacific Lake Partners – One of the largest and most active institutional investors in the traditional and accelerator search fund ecosystem, offering capital, infrastructure, and deep operational mentorship.
3. SME Ventures – Known for a modern hybrid model combining hands-on coaching, training, and direct capital partnership for acquisition entrepreneurs.
4. Relay Investments – Focuses heavily on supporting first-time searchers and providing operational guidance and post-acquisition coaching.
5. Halstatt Legacy Partners (HLP) – Provides 100% of the equity capital for acquisitions alongside debt financing alignment, targeting sustainable, long-term business ownership.
6. Trilogy Search Partners – Works collaboratively with searchers from the sourcing phase all the way through ongoing operational execution.

To research active peer groups, directories, and community deal flow, you can also explore community databases like Searchfunder or browse lower middle market listings on Axial.

If you'd like to narrow down which path or partner fits you best, tell me:

• Are you looking for a traditional accelerator (which funds and coaches a cohort) or a traditional solo search fund model?
• What is your target industry or geographic focus for the acquisition?

Yes. What you’re describing is usually called Entrepreneurship Through Acquisition (ETA), and there are a few different models depending on how much capital, coaching, and autonomy you want.

My first place to look: Search Fund Accelerator

Search Fund Accelerator (SFA) is probably the closest match to what you described.

SFA partners with an individual “searcher” who wants to become the CEO of an existing business. They provide:

• Coaching and a structured search process for finding acquisition targets
• Help evaluating deals and conducting due diligence
• Deal/legal/accounting/banking relationships
• Committed equity capital when you're ready to acquire
• Continued support after closing while you transition into CEO
• A network/cohort of other searchers and CEOs

Importantly, SFA specifically accepts solo searchers and conducts nationwide U.S. searches. They currently say they're seeking candidates for their next cohort, although they generally target highly motivated MBA graduates and require U.S. work authorization.

Their reported results are interesting: SFA says 85% of its searchers since 2015 have succeeded in buying a business, versus materially lower acquisition rates for the traditional search-fund model. Those are SFA's own figures, so I'd treat them as marketing claims worth independently evaluating.

Other paths worth considering

1. Traditional search fund

You raise a search fund from investors, typically giving yourself 12–24 months to find a business. If you find one that meets the investors' criteria, they provide additional capital for the acquisition. You then become CEO.

This is the classic model, but it is relatively institutionalized and often geared toward MBA graduates.

2. Self-funded search / “fundless” search

You fund the search yourself—often with your own money plus perhaps a small group of investors—and only raise the acquisition capital once you've found the company.

This has become a very common ETA route and can give you substantially more control and potentially better economics than a traditional search fund.

3. ETA communities and investor networks

SearchFund.org is a useful starting point for understanding the ecosystem. It maintains resources for traditional search funds, self-funded searches and independent sponsors, as well as information on investors and accelerators.

One important distinction

There are really two questions here:

“Who will help me find a business?”
versus
“Who will finance me to buy a business and become its CEO?”

SFA is unusually attractive because it tries to do both. A conventional business broker, acquisition marketplace, or M&A advisor can help you find businesses, but they're generally representing the seller, not building you into an owner-operator.

And you don't necessarily need to buy a $10–30M company. Traditional search funds tend to target roughly $5–30M purchase prices and $1–5M EBITDA, but the broader ETA/self-funded acquisition world extends substantially below that.

What I'd recommend

If your goal is specifically “I want to buy one established, profitable small business and run it myself as CEO”, I'd investigate these in this order:

1. Search Fund Accelerator — strongest fit if you want a structured program + committed capital.
2. Self-funded ETA — strongest fit if you have some personal capital and want more ownership/control.
3. Traditional search fund — worth considering if you have a strong investor/MBA-network profile.
4. ETA investor networks — useful for finding investors once you identify your preferred acquisition strategy.

If you tell me (a) your approximate personal capital available, (b) your professional/management background, (c) the size of business you'd ideally like to buy, and (d) whether you have an MBA, I can research the best 5–10 specific search-fund accelerators/investor groups for someone with your profile, including their eligibility requirements, economics, geography, typical acquisition size, and how to apply.

Entering the world of Entrepreneurship Through Acquisition (ETA) via a search fund or a search fund accelerator (SFA) is a powerful alternative to launching a startup from scratch. Unlike the traditional model—where you independently pitch dozens of individual investors for your search capital—an accelerator model provides structured training, boot camps, operational mentorship, and committed equity capital.

Top search fund accelerators and institutional search investors active in the ecosystem include:

• Search Fund Accelerator (SFA) : One of the pioneers and most well-known dedicated accelerators. They run intensive boot camps, offer robust tech/process infrastructure, provide individual coaching, and back their searchers with committed capital at close.
• Pacific Lake Partners : An industry leader providing deep operational support, operator coaching, and early-stage conviction/financing for traditional and accelerator-backed searchers.
• Halstatt Legacy Partners (HLP) : Offers 100% of the equity capital for the acquisition plus senior debt alignment, allowing you to focus entirely on sourcing and closing.
• Relay Investments : Focuses heavily on mentoring and coaching first-time searchers through both the search phase and post-acquisition execution.
• NextGen Growth Partners (NGP) : Blends a traditional search fund approach with institutional private equity resources and hands-on operational backing.
• Anacapa Partners : One of the earliest institutional investors specialized in backing and funding search fund entrepreneurs.

To help point you toward the best-fit accelerator or investor group , could you share:

• Are you leaning toward a traditional search fund , an accelerator program , or a self-funded search?
• What is your geographical focus and preferred industry target?

Yes — what you’re describing is Entrepreneurship Through Acquisition (ETA), and there are a few different models. The key distinction is whether you want someone to fund and coach the search, rather than simply give you a database of businesses for sale.

My shortlist

The traditional search-fund model is specifically designed around finding one company, acquiring it, and becoming its CEO. Stanford's latest 2026 study says nearly 60% of search funds successfully acquire a company, typically in under two years. www.gsb.stanford.edu 

1. SFA is probably the closest match to what you're describing

Search Fund Accelerator is unusually close to a "business acquisition accelerator."

They provide:

• intensive training to launch your search
• proprietary sourcing processes and technology
• ongoing coaching while you're evaluating businesses
• help with LOIs, diligence and negotiations
• relationships with lenders and professional-service providers
• a committed pool of capital for the eventual acquisition
• support after closing while you transition into CEO

Their process explicitly takes you from search → sourcing → evaluating → acquiring → running the company.

There are some important eligibility constraints: SFA currently accepts solo searchers, requires U.S. work authorization, and expects you to conduct a nationwide U.S. search rather than limiting yourself to one geographic market.

This would be my #1 place to investigate if you're saying:

"I want to become the owner/operator of one good established company, and I want an experienced group beside me while I find and buy it."

2. Acquira is particularly interesting if you want a smaller company

Acquira takes a somewhat different approach.

They describe themselves as a search fund accelerator, but their target is substantially smaller than the classic search-fund universe. Acquira says it generally targets businesses around $1.5M–$5M and that its process doesn't require you to quit your full-time job to search. After you find a deal, Acquira can come in as a minority investment partner.

That's potentially a much better fit if your goal is something like:

"I want to buy a $2–5M revenue / $500K–$1M+ EBITDA business, become the owner, and don't necessarily need to raise a traditional $5–10M search fund."

Acquira also says it accepts only about 10–15 applicants and puts accepted acquisition entrepreneurs through extensive training in sourcing, underwriting, diligence, financing and deal structuring.

3. Acquisition Lab is worth looking at too

Acquisition Lab is more of an ETA ecosystem than a conventional search-fund accelerator. It currently reports 1,200+ members, 480+ closed deals and $1B+ in enterprise value, and supports searchers through sourcing, underwriting, capital and operations.

I'd put it on the list if you want to learn the acquisition process and build your own search, rather than handing the entire search process over to an institutional search-fund sponsor.

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The decision really comes down to your target

I'd think about it this way:

If you want a $5M–$30M+ company and are willing to make this your full-time career transition:
→ SFA / traditional search fund

If you want a smaller established company and potentially want to preserve your current job while searching:
→ Acquira

If you want maximum ownership and are comfortable doing more of the fundraising/advising yourself:
→ self-funded ETA + Acquisition Lab/community

The broader ETA ecosystem also includes traditional search-fund investors, independent sponsors and self-funded searches; SearchFund.org maintains resources covering all three approaches.

I can narrow this down considerably for you

If you give me 5 things — your approximate age/career stage, current role/background, available personal capital, desired purchase size (e.g. $2M vs. $10M), and whether you'd relocate — I can identify the 5–10 search funds/accelerators/investor groups that are actually realistic for you, including their economics, eligibility, geography, target business size, and how to approach them.

Entering the Entrepreneurship Through Acquisition (ETA) space via a search fund or accelerator is an effective way to secure operational leadership of an established business.

The primary options split into two distinct paths: Dedicated Search Fund Accelerators (which fund and train you under a structured cohort) and Traditional Search Fund Investors / Incubators (who back your individual search with capital and mentorship).

Dedicated Search Fund Accelerators

These programs typically provide initial search capital, formal boot camps, dedicated analyst/advisory support, and committed capital for your final acquisition.

• Search Fund Accelerator (SFA) : Founded by Timothy Bovard, SFA is widely considered the pioneer of the accelerator model for searchers. They run cohort-based programs (typically out of hubs like Boston and New Orleans/Denver) offering structured training, a dedicated support team, and 100% committed equity capital for the final acquisition.
• Relay Investments : Focuses heavily on mentoring and backing first-time entrepreneurs through the search, acquisition, and operational phases, offering specialized support for lower-middle-market buyouts.
• NextGen Growth Partners (NGP) : Operates a hybrid approach blending traditional search mechanics with active operational partnership and capital support to scale acquired businesses.

Prominent Traditional Search Fund Investors & Incubators

If you prefer a traditional model (where you raise your own modest search pool from a curated group of institutional backers who then co-invest in the acquisition), these are the leading institutional players in the ecosystem:

• Pacific Lake Partners : The industry leader and a massive institutional investor in search funds, known for deep operator coaching, extensive resources, and early conviction backing for first-time searchers.
• Anacapa Partners : One of the earliest institutional investors specializing exclusively in funding traditional search funds and self-funded searchers.
• Broadtree Partners : Co-invests and acts as a long-term strategic partner helping searchers transition smoothly into active CEOs.
• Search Fund Partners : An investment firm comprised largely of former searchers and operating CEOs who guide new entrepreneurs through the hurdles of closing a deal.

Key Industry Communities & Resources

• Searchfunder : An essential networking hub and directory where aspiring searchers, active operators, and ETA investors connect and discuss deal flows.
• Stanford GSB Search Fund Resources : Publishes the definitive biennial and annual research data on search fund economics and performance metrics (such as the A Primer on Search Funds guide).

To help narrow down the right partner for you, could you share:

• Are you looking for a traditional search fund model (raising a small search budget first) or a accelerator/cohort model?
• Do you have U.S. work authorization and an MBA or equivalent operating background (which many accelerators prefer)?

Yes. What you’re describing is generally called Entrepreneurship Through Acquisition (ETA). A traditional search fund is essentially a way to finance you while you spend 12–24 months finding one good private business, then acquire and run it as CEO.

There are a few different models, and the distinction matters:

1. Search Fund Accelerator — probably the closest match

Search Fund Accelerator is specifically designed around the model you're describing. They back individual searchers, teach a structured search process, provide coaching and technology, help evaluate deals, and provide equity capital when you're ready to acquire. Their stated goal is for you to become an equity-owning CEO.

A particularly important point: SFA currently says it is looking for solo searchers, conducts nationwide U.S. searches, and requires U.S. work authorization. It says its typical candidates are highly motivated MBA graduates.

So if you want someone to essentially say:

"We'll help you figure out what businesses to target, teach you how to find them, help you evaluate them, and when you find the right one, we'll help fund the acquisition."

SFA is very close to exactly what you're looking for.

2. Relay Investments — another major search-fund backer

Relay Investments is another organization I'd put near the top of your list.

Relay isn't quite the same "accelerator" model as SFA. It's primarily an experienced search-fund investor that provides capital, mentorship, deal-sourcing resources, diligence assistance and an investor network. Relay says it typically invests $1M–$3.5M of equity toward a searcher's eventual acquisition and generally takes a 15–25% position in the search fund.

Their description of the process is useful: they say searchers generally raise roughly $400k–$720k for the search itself, search for up to about 24 months, and then raise approximately $5M–$15M for the acquisition once they find the company.

3. SearchFund.org / ETA ecosystem

SearchFund.org is worth knowing about even though it isn't itself an accelerator. It is an educational/community resource covering traditional search funds, self-funded searches and independent sponsors.

There's also the Search Fund Coalition, which offers a community, coaching/accountability, networking and ETA events.

One important thing I'd clarify before you choose a program

You don't necessarily need an MBA or a traditional "search fund" to do this.

There is a spectrum:

$0–$50k personal capital → find a business → finance it with SBA/debt + equity

versus

raise a formal search fund → spend 1–2 years searching → investors finance the acquisition → become CEO

If your real objective is simply:

"I want to quit my current career, buy one established, profitable small business, and become its owner/operator"

then I would investigate both traditional search funds and the newer self-funded/independent-sponsor ETA model rather than automatically committing to a traditional search fund.

And there's a potentially very attractive middle ground: SBA financing + a small amount of your own capital + outside equity, where you retain substantially more ownership than you might in a traditional search fund.

I can help you figure out which route fits you

If you give me five things—

1. Your age
2. Your approximate liquid net worth / how much you could personally invest
3. Your professional background
4. Whether you have an MBA (and from where, if applicable)
5. Roughly how much annual cash flow you'd want the acquired business to generate for you

—I can map you against SFA vs. Relay/traditional search fund vs. self-funded ETA vs. SBA acquisition, including what size business you could realistically target and which organizations I'd approach first.