This week I am talking to Aaron Oaks, CEO of Untied Pet Care. Aaron was a “search funder” that found an interesting company that served as an employer based pet wellness plan. Think of it as an HMO for pets offered as an employee benefit. Aaron is a super amazing guy who is probably not sleeping right because his wife just had twins. So glad those days are over for me. You can listen/watch the podcast on YouTube, Apple, or Spotify.
What does it take to successfully run a pet care startup during a season when everyone wants to be a pet owner? Providing a complimentary product that engages the vet with their client and takes care of pets’ wellness along the way.
In this episode of The Capital Stack, we have Aaron Oaks, the Chief Executive Officer at United Pet Care. We discuss the characteristics and skills it takes to become a search fund, plus how United Pet Care partners with a network of veterinary providers and pre-negotiates rates on their behalf.
Listen in to learn about the concept of a search fund, the process of becoming a search funder, and the difference between traditional venture capital and search fund. You will also learn how vets can address inefficiencies in the industry by increasing their operating capacity and average transaction.
What You Will Discover:
· [00:00] Intro
· [1:38] Aaron on leaving his corporate career to become an entrepreneur and ended up as a search funder.
· [4:43] He explains what an entrepreneur needs to become a search funder.
· [6:40] The soft skills needed when selecting a founder to lead a search fund.
· [9:20] How Aaron was selected as a founder, plus what sponsors look for in a search fund deal.
· [13:07] He explains what United Pet Care does as an HMO for fur babies and how they differ from insurance.
· [19:11] How United Pet Care helps reduce pet owners’ financial burden for their pet’s wellness.
· [21:53] The delicate two-sided market that Aaron has been trying to navigate over the last two years.
· [28:38] Three ways a vet can address the inefficiencies in the veterinary industry.
· [34:28] Why we’ll continue to see individually branded and locally driven strategies in coming years.
· [37:23] Random questions with Aaron!
Connect with Aaron:
· Website: https://www.unitedpetcare.com/
· LinkedIn: https://www.linkedin.com/in/aaron-oaks-89479a8/
