<p>MY NEWSLETTER - <a href="https://nikolas-newsletter-241a64.beehiiv.com/subscribe"><u>https://nikolas-newsletter-241a64.beehiiv.com/subscribe</u></a></p><p><br></p><p>Join me, <strong>Nik</strong> (https://x.com/CoFoundersNik), as I interview <strong>Dzmitry Miranovich</strong> (https://x.com/dzmitry9). <strong>Dzmitry</strong> is building a massive <strong>roll-up</strong> in the <strong>veterinary clinic</strong> space, currently with over <strong>20</strong> locations! Many people have ideas about what a <strong>roll-up</strong> or <strong>holdco</strong> actually is, but <strong>Dzmitry</strong> breaks down the real differences and reveals why he chose the <strong>roll-up</strong> route. We dive deep into what makes a good industry for a <strong>roll-up</strong>, from <strong>market fragmentation</strong> and <strong>tailwinds</strong> to <strong>operational value creation</strong> and how to actually quantify your <strong>runway for consolidation</strong>.</p><p><br></p><p>We also discuss the nuances of the <strong>JV model</strong> and why your first acquisition is crucial for long-term success. It&#39;s an insightful look into the art of consolidation and what it truly takes to build a successful <strong>roll-up</strong>.</p><p><br></p><p><strong>Questions This Episode Answers:</strong></p><ul><ul><li>What&#39;s the difference between a <strong>roll-up</strong> and a <strong>holdco</strong>?</li></ul><ul><li>What key characteristics make an industry ideal for a <strong>roll-up</strong>?</li></ul><ul><li>How do you calculate an industry&#39;s <strong>runway for consolidation</strong>?</li></ul><ul><li>How does a <strong>roll-up&#39;s operational value creation</strong> drive success?</li></ul><ul><li>Why is your first acquisition crucial when building a <strong>roll-up</strong>?</li></ul></ul><p>Enjoy the conversation!</p><p>__________________________</p><p><strong>Love it or hate it, I&#39;d love your feedback.</strong></p><p><strong>Please fill out this </strong><a href="https://forms.gle/AWnfTcVGZzYxASBw7"><strong>brief survey</strong></a><strong> with your opinion or email me at [email protected] with your thoughts.</strong></p><p>__________________________</p><p><strong>MY NEWSLETTER:</strong> <a href="https://nikolas-newsletter-241a64.beehiiv.com/subscribe"><u>https://nikolas-newsletter-241a64.beehiiv.com/subscribe</u></a></p><p><strong>Spotify:</strong> <a href="https://tinyurl.com/5avyu98y"><u>https://tinyurl.com/5avyu98y</u></a></p><p><strong>Apple:</strong> <a href="https://tinyurl.com/bdxbr284"><u>https://tinyurl.com/bdxbr284</u></a></p><p><strong>YouTube:</strong><a href="https://tinyurl.com/nikonomicsYT"> <u>https://tinyurl.com/nikonomicsYT</u></a></p><p>__________________________</p><p><strong>This week we covered:</strong></p><p>00:00 Understanding Holdcos vs. Roll-Ups</p><p>04:50 The Roll-Up Strategy: Why Choose This Path?</p><p>09:57 Key Characteristics of a Successful Roll-Up</p><p>14:47 Measuring Market Fragmentation and Consolidation</p><p>20:05 The Importance of Size in Acquisitions</p><p>23:26 The Importance of First Acquisitions</p><p>25:24 Navigating Challenges in Early Partnerships</p><p>28:19 Understanding the Veterinary Clinic Market</p><p>31:10 Differentiating the JV Model from Traditional Roll-Ups</p><p>36:25 Operational Value Creation in Roll-Ups</p><p>41:07 Identifying Market Tailwinds and Risks</p><p>44:03 Analyzing the Dental Roll-Up Market</p>