Drew Bagin and his partner Sam only buy businesses in Maine, New Hampshire, Vermont, and Massachusetts.
Maine has 600k people. Drew says he hears about most deals in the region before they hit the market, well before they're public.
We've had guests argue geography isn't an edge anymore, capital flows everywhere now, secondary markets aren't cheap anymore either. Drew's experience says otherwise, at least for New England. New Englanders like doing business with New Englanders. Being known locally gets Drew better access to sellers and more proprietary deals.
This doesn't scale to Dallas or LA. Too big, too crowded, being "local" doesn't mean anything there. It works because Maine is small enough that being from there actually connects you to people.
Check this week's episode of the Minds Capital Podcast on Spotify, Apple Podcasts, YouTube, or via our website.
