show episodes
 
Welcome to the Business Buyer Diaries. My name is Nathan Platter, I’m a full-time employee, and I bought a business! I did everything right from finding the deal, handling due diligence on 63 different opportunities, and ultimately buying a profitable gym, and boy was I in for a surprise as a new owner! I chronicle everything in real time, including the biggest wins to the stressful nights at 2am. I’m sharing my journey without sugarcoating anything, so you don’t repeat ...
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show series
 
Send us a Text Message. Embarking on the exhilarating yet daunting adventure of turning from a salaried employee to a self-reliant business owner, I've walked the walk through the intricacies of tech and fitness entrepreneurship. I pull back the curtain on this transformation, offering a play-by-play of my own journey, from the nuts and bolts of es…
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Send us a Text Message. Discover the legal landmines hidden in the world of business franchising as a seasoned tech investor and I compare notes on a potential acquisition that's more than meets the eye. This conversation takes us on a deep dive into the ethical quandaries and financial implications of employee classification—a hot topic that can m…
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Send us a Text Message. Ready to take the entrepreneurial plunge and navigate the complexities of buying a business? Look no further, as we guide you through the maze of finding promising ventures, understanding the financial commitments, and securing that all-important financing. Getting down to business, we kick off with practical tips on sourcin…
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Send us a Text Message. Ever had a lightbulb moment that electrifies your whole being? That's precisely what happened to me, your host, during a seemingly mundane interaction within a Facebook group for real estate enthusiasts. What began as a casual conversation about investing quickly morphed into a torrent of interest and inquiries about buying …
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Send us a Text Message. Ever found yourself on the brink of a business deal, pulse racing with the thrill of potential, yet drenched in a cold sweat of uncertainty? That's precisely where we begin our journey today, as I recount a tale of navigating the minefield of business acquisition, with a focus on the critical importance of due diligence. A p…
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Send us a Text Message. Surviving a company's reorganization feels like clinging to a life raft in stormy seas—exhilarating yet terrifying. I've weathered that storm and come out on the other side with tales that will resonate with anyone who's faced the specter of job insecurity, especially in the mercurial tech industry. Join me as we traverse th…
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Send us a Text Message. Unlock the secrets to franchising success as we peel back the layers of marketing strategy, agency collaboration, and the art of delegation. Our latest episode offers a front-row seat to the dynamic world of franchise marketing where several of our peers share their journey of working with one remarkable agency. They've seen…
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Send us a Text Message. Ever felt like you're waging war against your own inner critic, especially when taking on the entrepreneurial battleground? Buckle in for a tour through the labyrinth of self-doubt and the specter of future uncertainties that loom over business ventures. We delve into the nitty-gritty of ethical quandaries and how to combat …
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Subscriber-only episode Send us a Text Message. Facing a harrowing $30,000 abyss where profits once stood, I take you through the trenches of small business warfare, where every decision feels like a high-stakes chess move. This episode is a raw narrative of the financial distress that blindsided me, and the relentless quest to resurrect my venture…
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Send us a Text Message. Ever wondered how small dietary tweaks can lead to massive wellness wins? Join us on an invigorating ride as we chart the course of a business's revival and the electrifying launch of a new challenge that's redefining member engagement. We kick things off with a candid chat with our accountant, plotting a path to financial h…
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Send us a Text Message. Navigating the unpredictable tides of financial management in a newly acquired business is no small feat; it's a journey riddled with tough decisions and strategic pivots. This episode is a raw and real look at the hard-hitting changes we've made to ensure the survival and future success of our venture. We've crunched the nu…
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Send us a Text Message. Every day presents its own set of challenges and opportunities, and I've always believed that the secret to success lies in how we handle them. That's why this episode is all about adopting a pragmatic approach to life and business—tackling today's tasks with vigor while keeping an eye on the horizon. We delve into the essen…
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Send us a Text Message. Imagine stepping into a new business only to find a tangled web of compensation issues and vendor contract surprises waiting for you. That's the story I'm peeling back layer by layer, revealing the raw realities of acquiring Studio no 1. Join me as we navigate the complexities of owner compensation, the discovery of a partne…
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Send us a Text Message. The road of entrepreneurship is paved with decisions that can either elevate your business or lead you down a path of regret. That's why, in our latest episode, the crossroads of canceling a second studio deal takes center stage. I open up about the turmoil and relief that comes with making such a pivot, detailing the red fl…
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Send us a Text Message. They say success whispers, but in the bustling world of franchising, one owner's triumph roared loud enough to catch the ear of the big boss. Hear how our guest, a franchise owner with a knack for innovation, not only raised the bar for his own location in December but also drew a congratulatory call from the franchise CEO h…
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Send us a Text Message. When my bonus check hit with double the digits, I faced a crossroads that many might dream of but aren't quite prepared for—splurge or save? That's the kind of monetary mayhem we unpack in this episode, as we navigate the nuances of managing unexpected financial gains in a time when an aging F-150 starts looking less like a …
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Send us a Text Message. Have you ever considered the possibility of success being untethered from the start of a new year? This episode is all about the journey of reinvention and the untold power of beginning whenever you’re ready. We're joined by a seasoned gym owner whose wisdom transcends the hype of January resolutions, reminding us that tenac…
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Send us a Text Message. Struggling to keep your small business afloat amidst the choppy seas of cash flow? You're not alone. I've been there, pacing the floor of my fitness center, wrestling with the realities of fluctuating sales. Tune in as I share my earnest journey towards embracing high-ticket offerings and executive transformation programs th…
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Send us a Text Message. Have you ever winced at your bank account after forgetting a crucial loan payment? I sure have, and in our latest episode, I bare all about the time an SBA loan slip-up and a cascade of other costs took a serious swipe at our finances. But this isn't just about my blunders; it's about the tightrope walk of business finance m…
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Send us a Text Message. Ever wondered how the strategic minds behind growing businesses make their moves? Listen up as we unlock the secrets to expanding your empire through smart networking and acquisition strategies. Jump into the deep end of business development with us, where we discuss the game-changing tactics of connecting with SBA lenders w…
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Send us a Text Message. When I took the leap into studio ownership, I didn't expect the financial gymnastics that lay ahead. Embark on a journey with me as I reveal the hidden costs of studio ownership, from the importance of your zip code to the surprises on the balance sheet. The reality of running a fitness studio is more than meets the eye, esp…
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Send us a Text Message. Ever felt like your goals are just too lofty, like climbing a financial Everest without a sherpa? Join me as I share a game-changing perspective that's transformed my approach to ambitious goals and intimidating price tags. By slipping the simple word 'only' into the conversation about costs—whether it's a house, a program, …
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Send us a Text Message. Ever feel like the left hand doesn't know what the right hand is doing in your business? That's the struggle we unpack as we reveal the often-frustrating ballet between the go-getters in sales and the make-it-happen crew in operations. In a raw recount of a recent management meeting, we expose the friction when enthusiastic …
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Send us a Text Message. Have you ever found your personal and professional worlds colliding in uncomfortable ways? Prepare to navigate this rocky landscape with us! We kick off with a candid recount of "Mary" and "Martha" crossing the line by seeking a special discount from "Nathan," outside of the professional sphere. As your host, I'm pulling bac…
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Send us a Text Message. Get ready to shatter your sales ceiling and redefine success as we unwrap the tactics behind our staggering 75% show rate and sky-high close rates during our 10-week challenge sales blitz. We're not just breaking records; we're completely rewriting the rules of the sales game. And while we're at it, let's tackle the elephant…
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Send us a Text Message. Ever wondered how a seamless dance between coordination and pressure can lead to a marketing coup? Strap in as we uncover the secrets to our latest client acquisition success and the incredible power of teamwork. In our journey, we've surpassed targets and embraced the synergy between our in-house wizards and the ad agency's…
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Send us a Text Message. Ever felt that your fitness routine is missing something beyond the grind of gym workouts? Prepare to have that gap bridged as we delve into the untapped potential of fitness studios in our always-connected world. No longer are we confined to the solitary struggle with dumbbells and treadmills; we're pioneering a holistic ap…
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Send us a Text Message. Every entrepreneur knows that the path to success isn't just about the destination; it's about the journey. That's why I've decided to pull back the curtain on my own escapades as a business owner, from the nerve-racking early decisions to the thrill of expansion. I'm laying it all on the table—because we often forget the ro…
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Send us a Text Message. Ever wonder how to keep a business booming while nurturing a strong community? Join us as we unpack the tools and strategies for scaling your ambitions without losing touch with the heart of your enterprise. In our latest episode, we delve into the art of balancing personal involvement with members and strategic growth initi…
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Send us a Text Message. Ever thrown a party that just hit the mark? Well, Tony just did, and he's here to share the scoop on throwing a bash where the food, guests, and ambiance blend into the perfect soirée. He dishes out his secret sauce for not over-catering, keeping your guests' bellies and spirits high without the awkward mountain of leftovers…
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Send us a Text Message. Ever wondered how member appreciation events can transform your fitness club's community vibe and client loyalty? Get ready to unwrap the strategic thinking behind creating events that don't just throw confetti but actually cement member relationships and build a unique culture. In this heart-to-heart, we dissect the tightro…
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Send us a Text Message. Ever found yourself scratching your head, wondering why your seemingly successful business isn’t lining your pockets? Join us as we tear down the facade of profitability and navigate the treacherous financial waters of fitness studio ownership. This episode is a treasure trove of insights for entrepreneurs, from the shocking…
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Send us a Text Message. Unlock the blueprint to strategically navigating your business towards the affluent markets that promise richer rewards. Our recent Eden Prairie marketing strategy session was a game changer, revealing why we're pivoting towards the opulent west for quality leads and how Zillow maps have become our secret weapon for aligning…
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Send us a Text Message. Get ready to crack the code on cost-effective lead generation! This episode is a goldmine for anyone eager to learn the fine balance between cost per lead and lead quality. We've had an unexpected influx of 60 new leads this past week in the Twin Cities market, costing us peanuts compared to the usual rates. But are these le…
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Send us a Text Message. Get ready to embark on a journey through the peaks and valleys of professional success, as I share the intimate details of securing a well-deserved cash bonus at a leading tech company. But hold onto your hats; this ride picks up speed as we navigate the bustling growth of my gym business, where the challenge isn't the lack …
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Send us a Text Message. Embark on a fiscal voyage with us as we navigate the treacherous seas of small business accounting. This episode throws a lifeline to those drowning in premium service fees, dissecting whether the $3,700 monthly outflow for tax prep, bookkeeping, and consulting holds water against our fitness studio's earnings. We hold a mag…
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Send us a Text Message. Ever wondered how a successful franchise stays ahead of the curve? Our latest episode brings you face-to-face with the gritty details of running a lucrative business, straight from an expert franchise owner. We navigate the high seas of profit and loss revelations, celebrate our guest's top-five ranking victory within their …
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Send us a Text Message. Ever felt like your job application vanished into thin air? That's the reality for many, and we're tearing down the facade to reveal the murky waters of job hunting and the often impersonal nature of the hiring process. In the grip of our latest episode, we confront the elephant in the room: deceptive job postings, the commu…
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Send us a Text Message. Ever pulled an all-nighter just to have technology throw a wrench in your plans? That's the tip of the iceberg in our latest episode, where I get real about the constant battle with deadlines, server updates, and the lingering threat to job security in an era marked by unsettling layoffs like those at Spotify. We take a hard…
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Send us a Text Message. Ever dreamt of owning a fitness studio? Think it's all about smoothies and six-packs? Let's get real about the sweat equity involved in purchasing an existing studio. In this jam-packed episode, you'll learn why buying into the fitness biz isn't just about counting reps – it's about counting costs, understanding the allocati…
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Send us a Text Message. Discover the intricate dance of revenue growth and financial discipline as we guide you through the labyrinth of managing a gym's finances. This episode lays bare the allure and potential pitfalls of monthly recurring revenue models, akin to gym memberships, and how they serve as a double-edged sword for budgeting and cash f…
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Send us a Text Message. Stepping off the ledge of a steady paycheck into the tumultuous seas of business ownership, I've landed at the two-month mark and, let me tell you, it's a mix of exhilarating and nerve-wracking. As I pull back the curtain on what it really means to transform from employee to entrepreneur, you'll hear how I'm grappling with t…
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Send us a Text Message. Eager to uncover the blueprint for our near-record revenue month? Buckle up as we pull back the curtain on the game-changing strategies that turbocharged our business, casting a spotlight on the digital evolution of time-tested promotional tactics that skyrocketed our sales. I'll walk you through the powerhouse role of our e…
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Send us a Text Message. Ever wondered how to pinpoint the strategies that truly amplify your marketing dollars? Brace yourself for an earful as we unravel the conundrum of marketing attribution with a touch of humor and a heavy dose of reality. We dive headfirst into the art of reactivating those long-forgotten leads, breaking down the effectivenes…
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Send us a Text Message. Have you ever felt like you're just spinning your wheels, unable to gain traction in your career or personal finances? This episode is a lifebuoy thrown into the treacherous waters of job uncertainty and unemployment. We're not just talking about the grind; we're providing a lifeline of actionable strategies for those of you…
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Send us a Text Message. Get ready to revolutionize your morning routine with a behind-the-scenes look at how I navigate the complexities of W2s and connect with our accounting wizards to keep the business's financial gears well-oiled. Following that, I pull back the curtain on a strategy-packed discussion with my manager, as we dissect the aftermat…
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Send us a Text Message. As midnight looms and my eyelids weigh heavy, I can't help but marvel at the day's whirlwind of events. It's a mental gymnastics routine, swapping hats between my day job's data models and the entrepreneurial hustle of my fitness studio empire. Straddling these two worlds, I share the raw, unfiltered chronicle of what it tru…
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Send us a Text Message. Ever wondered how a 1% response rate could be the ticket to a business's financial rebound? Strap in as we take you through the whirlwind of our Black Friday success story, where we turned text blasts into a revenue-generating powerhouse. From the brink of a tough month to smashing profit records, we're peeling back the curt…
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Send us a Text Message. Recall that moment when you first recognized the recurring themes in your favorite movie soundtrack, how it subtly shaped the narrative and your emotional response. Now imagine those themes as the patterns of thought that score our own lives, influencing our interactions and self-perception. In exploring the symphony of our …
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Send us a Text Message. Navigating the stormy seas of business expansion, I've been at the helm of our gym empire during a month of high stakes and financial tightropes. Tune in to an unvarnished chronicle of our experiences, where I lay bare the adrenaline-fueled triumphs of promoting paid-in-full memberships, alongside the gut-wrenching frustrati…
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