Episode Details

Are you thinking about buying an agency? What about just buying one department of agency to compliment your service offering? There are many reasons to consider acquiring another agency, like client lists or intellectual property. However, buying one for its resources made the most sense for this podcast guest. When a few red flags made him take a step back, he found he could structure a deal in the form of buying just the department he was most interested in rather than acquiring the whole agency. It takes the right circumstances and aligned interests, but it worked for both agencies involved.

Like many agency owners, Antoine Gagne started his agency, J7 Media, by accident. He hosted events that drove a lot of people in and realized he was good with social media. Platforms like Facebook and Instagram were still sort of new in Canada, so he started off selling social media management packages. He saw a lot of success in this market and eventually niched down to specialize in Facebook advertising. More recently, he has ventured to buy other agencies to expand his services.

In this episode, we'll discuss:

• Niching down to grow the agency.
• When to raise agency prices.
• Buying an agency department for the resources.

Agency Dad: Today's episode is sponsored by Agency Dad. Agency Dad is an accounting solution focused on helping marketing agencies make better decisions based on their financials. Check out agencydad.money/freeaudit to get a phone call with Nate to assess your agency's financial needs and how he can help you.

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In his beginnings, Antoine started an agency that offered social media management and content creation services. He eventually decided to focus on an area that was most profitable and where the agency really shined. As a Facebook ads agency, they were so specialized it was easy for clients to refer them to people looking for these exact services, which led to a stable sales cycle. Antoine really recommends figuring out one service that you're good at and you're able to sell repeatedly.

Once you settle on this, the key is to not give up, he assures. Keep going until it becomes easy for you to get more and more clients. At this rate, you will get to your first million in revenue. For Antoine, once you figure out how to keep it simple and go all-in on one service you do really well, you find that getting to the second million is actually easier.

Failing to recognize when it's time to raise prices is a common problem for agency owners. Additionally, most fear this move will make them lose out on prospective clients.

To be clear, the point where you find a service you can sell repeatedly while improving and consistently getting better clients should also be the point where you get ready to raise your prices and think about your profit.

If you have an agency and you're