Searcher
An entrepreneur who systematically searches for, acquires, and operates a small business, typically through a search fund or self-funded search model.
A searcher is an entrepreneur who dedicates 12-24 months to systematically identifying and acquiring a small-to-medium-sized business to operate as CEO.
Typical Searcher Profile
Most successful searchers share common characteristics:
- MBA or equivalent business education (often from top programs)
- 3-7 years of professional experience
- Strong analytical and interpersonal skills
- Entrepreneurial drive without a specific business idea
Searcher Economics
In a traditional search fund:
- Salary during search: $80,000-$120,000/year
- Equity at closing: 20-30% of acquired company
- Vesting schedule: Typically 4-5 years
- Average total compensation: $1.8M over investment period (Stanford data)
The Search Process
- Raise search capital (traditional) or self-fund
- Define acquisition criteria and target industries
- Source deals through brokers, direct outreach, and networks
- Evaluate opportunities using financial and operational analysis
- Negotiate and close the acquisition
- Operate and grow the business as CEO
Related Terms
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