Episode 170: Buying Out a Partner with Ashley Mak
Today we are joined by Dr. Ashley Mak of Hudson River Fitness. Ashley recently bought out his partner and transitioned to sole ownership of the gym.
In this podcast, you’ll learn how he navigated every step of the process from creating an exit strategy, negotiating a fair buying price, working with lawyers and absorbing his former partner’s responsibilities.
Don’t forget about the 2019 Two-Brain Summit, June 8-9 in Chicago! This year we have some amazing topics and guests for both you and your coaches. Click hereto register and sign up now!
Greg: 00:02 Welcome everyone to Two-Brain radio. It is our mission at Two-Brain to provide 1 million entrepreneurs the freedom to live the life that they choose. Join us every week as we discover the very best practices to achieve Perfect Day and move you closer to wealth.
Greg: 00:25 We would like to thank another one of our amazing partners, UpLaunch. Over the amount of time that you’ve had your business, how many people have come through your doors and never signed up for a membership? When I first opened, I remember getting everybody’s name and emails because that’s what I was told was the best way to start the conversation with potential new members. The big problem was I never knew what to say. Over many years, I spent countless hours developing plenty of emails to send to these new members or people that are thinking about signing up for a membership. This took a lot of time, probably way too long and could have been spent on more productive things. If you’re in the same situation I was, don’t waste any more time, and book a free session with UpLaunch. UpLaunch has over a hundred pre-built emails to convert new leads into members.
Greg: 01:09 And when your members decide to take a break, they have a whole campaign to get them back through the doors. You have the ability to text message members right from the app, and with integrations like Google Calendar, Facebook and over a hundred more via Zapier. UpLaunch has you covered. UpLaunch was created by gym owners for gym owners. Head over to www.uplaunch.com today to get the conversation started with your future and past clients.
Greg: 01:35 All right, we’re on another episode of Two-Brain Radio. We are with the famous Ashley Mak. How are you sir?
Ashley: 01:42 I’m doing really well Greg. It’s nice and warm up here in Hoboken, New Jersey, and the sun is out and I can’t complain. It’s all positive vibes.
Greg: 01:52 Excellent. So I wanted to bring you on because you guys have a unique story but not unique across all businesses and that is talking about buying out a partner. So let’s kind of give a background. So anybody that’s listening kind of knows who you are and the businesses that you own. And then we’ll kind of jump into the whole process of buying out your partner if you need to.
Ashley: 02:15 Yeah, absolutely. So I am the owner of Hudson River Fitness, which is a strength-and-conditioning facility located in Hoboken, New Jersey. I actually started in the CrossFit world back in 2013 and I was coaching CrossFit from 2013 to 2016. During that time I was working with the owner of the affiliate and at the end of 2016 that was actually when I was presented with an opportunity to actually open up my own facility with the current affiliate owner that was working for. And so that’s when we actually opened up our doors in January, 2017 and that’s actually also when I started working with Two-Brain Business as well. Fast forward to now. So the gym is now a little over two years old, so we’re two years plus four months. And pretty much the great thing about how the business was run and what we were doing over at the gym with the help of Two-Brain Business was that I was in a position where I was actually able to buy out my business partner and become, say, the sole owner of the business, of the gym.
Greg: 03:19 Awesome. Let’s kind of jump into that because it’s not, I know a lot of people out there listening to this are probably trying to navigate through a buying out a partner. I mean, whether that’s a partner that is mutual and everything’s going well and they just want to be able to own the entire business themselves, or maybe it’s a partner that they don’t get along with and they kind of jumped in to business with them and realized, “Hey, this isn’t the route we want to go.” It’s two separate routes and they need to kind of navigate to buying out a partner. So let’s kind of start from the beginning. You have the gym, you and the partner started this location and kind of let’s go from there to the point where you finally bought your partner out.
Ashley: 04:01 For sure. And as I was getting prepared for today’s podcast, I actually listened to the Two-Brain podcast episode 81 where Chris talked about partnerships and how to get things started, and that really, it was great because it really did provide the framework and really just helped me understand how we were able to get into this partnership in the first place. And so even just with this business idea, Hudson River Fitness, just an idea that’s kind of like out in our brains, we were able to sit down, we sat down actually at the end of 2016, and we sat down and we talked about the different possibilities of what we could do as a partner. And the big things that we certainly focused on was making sure that we were outlining the responsibilities and the roles of like what each partner was going to do and really just understanding what our responsibilities were going to be.
Ashley: 04:54 Obviously we talked about financials in regards to like how much we’re going to be investing and ultimately how much the gym was going to going to be making or what the gym needed to make in order to make this business successful. But then the last part is we opened up this gym, we were business partners or like, we came about doing this idea because we were actually good friends with each other too. And going through this process, actually had to prepare for—I mean, what we would call an exit strategy, making it so that in the event that our relationship does change, we do have an option for us to be able to get out of the partnership. And so we already outlined that from the get-go right before, even before we opened up our doors.
Ashley: 05:36 And pretty much what ended up happening is we opened up our doors in January 2017, my business partner was actually the managing partner. He was the one who was really more so on the business accountability aspect of it. I was actually really good at the daily operations when it came to coaching, opening and doing all the sales and doing all those other things when it comes to actually operating the gym and the main goal was to be able to build this gym in our community, which is Hoboken, New Jersey, and really just focus on building community and also making this gym a successful opportunity for myself because prior to opening up the gym I was just a coach and I didn’t really quite sure know what my future was in the fitness industry and like what my path was. And here we were opening up this gym and growing it from the ground up, and over the past say, two years, the gym was able to grow not only in just its membership base, but also in the financials.
Ashley: 06:29 We were able to sign on higher-value clients generating way, like a lot more revenue, which allowed the gym to be profitable, which led to a couple of different things. In some cases when it was a profitable quarter, we were taking that money home and then also there’s other quarters we were taking it and reinvesting it back into the business, whether it be to purchase new equipment or hire new staff, purchase new seminars, hire people to speak for our staff. And it wasn’t until the beginning of this year, 2019, where we had a discussion, me and my business partner, in regards to the future and where we really saw ourselves. Obviously the gym was doing really well, but really just trying to figure out what the next steps are as the entrepreneur. And that’s where we really had a serious discussion in regards to where we saw ourselves, what our futures were.
Ashley: 07:16 And my business partner told me, “Listen, Ashley, my attention is going to start transitioning to other different avenues and other different ventures. Would you be interested and be in a position to buying out my share and being the sole owner of this gym?” And so that was his incentive to be bought out. My incentive to buy out my business partner was the aspect of having that, what I would consider a bigger financial upside. In essence, with the profits, when I had a business partner, the profits that the gym was making, it would obviously be split based on the percentage equity. And with that being the case, being that I was the person who was doing pretty much all the operations, the management of the staff and really growing the gym from the front lines, I thought this was a really great opportunity for me to be able to experience those positive benefits of being bigger owner in the gym that I was growing and running.
Ashley: 08:13 And so we had that talk back in January and it was maybe about once we started having that talk in January, we actually began the process of actually running the sale in the beginning of February, and it took about 30 day. Pretty much it was from February 1st to initial close of sale where I was the sole owner of the business, March 1st, 2019. And during that time we had to take a couple steps actually because it wasn’t just like something where it’s like, “OK partner, here’s this check, now I own the business.” There are a lot of things that we had to certainly consider. And first off, the biggest thing that I had to focus on was really the idea of like how much am I going to buy my partner out for? And really trying to figure out the value of the gym and what’s a fair price.
Ashley: 09:03 And so what we ended up doing was we had ongoing discussions. My business partner or my former business partner actually no longer lives in New Jersey. So we were kind of communicating via phone and email and that’s when we came to an agreement on our purchase price. And when it came to understanding like what a fair and reasonable purchase price was, I actually referenced this book called “Simple Numbers.” If you guys haven’t had the opportunity to take a look at that, it’s a good opportunity—it’s another book when it comes to just understanding the financials a little bit more.
Greg: 09:34 And we’ll make sure that we link that in the show notes. So anybody that’s interested.
Ashley: 09:40 Awesome. Yeah, it’s a cool book. And so going from that, it was really looking when it comes to the value of the gym, the valuation of the gym, they recommended three years of income that was generated by the business. Now, we weren’t a three-year-old gym. So what do we do when it came to just understanding how much the gym was valued. So what they recommended was you take that number, you take the average of the two years that you’re in operation and then you just multiply that by three and that just gives you a little bit more of a ballpark and then you end up buying out the percentage equity of the other partner based on that value. So we ended up coming up with a fair price. And from there I had to figure out, all right, well how am I going to pay for this? And I have to say one of the great things about being part of the Two-Brain family and being able to provide such amazing value to our clients and also providing opportunities for the coaches to grow, I was in a financial position to actually be able to pay this share of the business in essence out of pocket in cash. ‘Cause I was trying to figure out well, should I take out a personal loan, should I take out a loan from the bank? And actually prior to making this purchase, I actually discussed with the financial planner in regards to, all right, well I’m planning on purchasing this share of the business. What are my options? And so he said, “Personal loan out of pocket or from the bank.” Also, in some cases, some people can actually even take a loan from their actual business itself if there’s enough cash on hand. And what I found the most realistic for my situation was that I did have the funds to be able to purchase this share of the business with my own money, which was really exciting.
Ashley: 11:29 And so I knew I was able to pay that. And then once we identified those financing options, I also had to look into the responsibilities that my business partner was really taking a hold of, taking responsibility for, which included him negotiating the lease, making sure that we have our payment processing under control, insurance, and even just management of the financial accounts when it comes to just overall payment processing. So those were the responsibilities that my business partner was taking over. Oh, in addition to bookkeeping as well. And after identifying that I had to understand, “OK, these are the things that I’m going to have to take over or I’m going to have to delegate once I have that changing of the hands.” And then as we were identifying that, we also needed to actually go into the actual legal aspect of things.
Ashley: 12:22 The actual contracts in regards to the actual close of sale. So one of the interesting things for us is that we are still really great friends, my former business partner and I. And being that we were on the same page and we had a really great relationship when it came to hiring a lawyer and the mediators and really just coming up with that fair price and making sure that we are having that smooth transition, being that we were on the same page and we had a really great relationship, we just needed one lawyer, one attorney. This situation is a little bit different if you don’t have the best relationship or your partner’s exiting out the company in a different situation. Maybe not the best of terms or maybe just being like, I don’t know, any other situation aside from having a good relationship, that’s where the lawyers have to come in. Being that me and my partner were on the same page, we just needed one. But if you are in a different situation, you might need one to two or three depending on what your situation is. And so as the lawyer started to draft the agreements, he ended up sending it out to both of us and we were able to really read it out. And what we really decided to do instead of just dissolving our actual business and creating a new one, we just ended up restructuring the business itself. So instead of a partnership it ended up just being like a sole owner and that way pretty much all the bank info could stay the same, pretty much everything except just who actually owed the business, we were able to change that up.
Ashley: 13:53 And then from there, once we came up with that agreement, we also notified the accountant who actually manages the business finances as well. So then that way they were actually in the know in regards to what to account for for taxes for this year. And then from there being that we were a new tenant in the space that we’re renting out right now, we ended up notifying the landlord as well saying, “Hey listen, this is the current state of the business. We’re still going to be in existence, but just the partnership agreements have changed, and Ashley is going to be taking care of the lease from now on.” So that was going to be huge because one, if we didn’t have a space we obviously couldn’t operate. And then from there—as we started, like this is all leading up to the actual execution. So as we’re doing all this planning, once we started making some moves, that’s when we actually started switching accounts.
Ashley: 14:48 So payment processing getting moved to my name, the website getting moved to my name, all the Quickbooks and accounting and all that other stuff is going to be put on to my plate or put under my own account so then that way as my partner got phased out, he wouldn’t have access obviously because it wasn’t his business. And then that’s actually when we led to the actual execution of the buyout. So you’re looking at everything that we’ve done so far took about 20 to 25 days just because obviously things do take time and then we executed the buyout and we actually set a deadline. We said as of March 1st, 2019, Ashley will be the owner, the majority owner. Just to give you guys a little bit of a heads-up, I own 90% of the business and then my other business partner who does the majority of the marketing, he owns 10%. I wanted him to keep the 10%, my business partner, my other business partner for marketing, because that’s where I found the value. It’s like 10% of profits certainly goes towards marketing and that’s going to be his compensation. And then once we executed that buyout and then I sent some pretty large checks, around the moment that those checks got delivered, got deposited, I was the owner of Hudson River Fitness.
Greg: 16:02 Wow. That is definitely a long process that you guys did very quickly because from what I’ve seen, when people are buying out partners or buying a business, it takes much, much longer. I mean close to, I mean even six months to buy it, buy a business or to purchase a business or to buy out a partner, like what you guys did. So it seems like you guys were very efficient and it’s nice that you guys were on the same terms, so it didn’t drag it out any longer. Let’s dive into one of the things you said in the beginning now. You said you had an exit strategy from the very beginning. What was that exit strategy? Was it basically this process is how you go about with the exit strategy, or what did that actually look like?
Ashley: 16:44 Yeah, so the exit strategy, in essence what we did was we really just planned for the worst. So we actually outlined as many situations as possible when it comes to having to either have a partner buyout or just not be a part of the company anymore. The process itself, we actually did outline that specific process saying that it was originally the valuation of the business, the changing of the roles and tasks and ultimately identifying the financing options. But then when it came to the exit strategy, just really just identifying other routes. So an example would be, this is going to get kind of dark, but an example would be if I were to have died over the past couple of years with owning the business, what that would mean in regards to does my wife own the business or do my shares of the business get distributed? It’s been a while since I actually looked at that specific clause. We actually just wrote that one out and then I was like, well, I hope I’m not going to die over the next couple of years. But so we have that. But then the other situation was in the event that we ever actually were in a disagreement and just didn’t have a good relationship or the relationship that we had today. And really we outlined this plan that said if we weren’t on the right terms, we would have to have a third party, a mediator to actually help take us through this process, which is the process that which I just outlined. Does that make sense?
Greg: 18:07 Yeah. No, it does. It does. And actually my fiance, she has a business partner. She owns an animal hospital, actually each have life-insurance policies. And in their partnership, it’s kind of like what you said, if something happens to either one of them, those life-insurance policies basically pay off the family members that had their family member pass away, and then the other person basically just takes control of the entire business. So that makes sense. Completely. And I mean, there’s no right way, or no wrong way to do it. The only wrong way would be just not to do it and not to have an exit strategy you put in there so that—no, that makes sense to look at every scenario you possibly could and figure out which one, or better yet, think of everything that could possibly go wrong and let’s get that in writing into there. Now that you guys, I mean you guys had that in place from the very beginning, which anyone out there that has a partnership or has formed one, make sure that that is put in there. You guys need to have that hard conversation. Sit down, talk about what happens if this happens, that happens, whatever, so that you guys can plan for that. Now you went into having the legal stuff done. You had the valuation of the business, which if anybody listening, we’re actually going to attach a Google Doc to this that everyone can, or a PDF that anyone can actually download and look at basically step by step of what Ashley has already talked about so that they can read it if they want to a little bit later. They can listen now and read a little bit later. But digging into this a little bit more, did you basically just write a check to your partner once everything was said and done or was it paid off over a certain amount of time? What did that kind of look like?
Ashley: 19:53 Yeah. I would say that I actually wrote two checks. Just because it ended up coming, like the money ended up coming from a couple of different accounts just because when it comes to just saving up the money, I have in a bank account, which in regards to like saving the money, I just don’t touch it for big purchases like this. But I would say that one of the greatest things that Two-Brain Business has taught me was to be able to create these—one, create a profitable gym. And in essence that once I took this, once I was able to bring in profits month after month, I was able to save up enough money to be able to make this purchase possible. And I think that was one of the greatest things because I was trying to figure out like how am I going to pay for this big purchase? Like especially when the business is profitable and it’s like how am able to do that? And that’s what I ended up doing. I was able to pay it all up front, which was really exciting on my end.
Greg: 20:48 Awesome. And not a lot of people can do that, which is what you kind of pointed out earlier, that if you went to the bank and got a bank loan, if you’re able to pay out of pocket, or actually having the business pay out, so like having a large profit account or something like that within the business where the business could basically pay for it, buy the one person out, of course that would minimize those funds down and then you would just take ownership over it and you wouldn’t have that profit of course in there, you’d have to build it back up. So that makes sense. Now, what was the process with actually having lawyers into this? Was it, I mean did it seem like it was more stressful having the lawyers or do you feel like the lawyers really helped mitigate all of that?
Ashley: 21:31 Yeah, prior to actually speaking with the lawyers it just sounded like, it felt like a huge ordeal just going through all of this. To me, I was like, well, why can’t I just write out the check and just make this happen? And obviously with a business it’s a legal entity. So there’s definitely a lot of things on the back end. And I just realized, and this is something that I learned even just being a physical therapist, is that the lawyers are there to make things easier for us when it comes to all that legal stuff. And we were very lucky being that the lawyer who was actually taking care of the selling agreement, he actually wrote the operating agreement that we have when we first started the business. So he already had knowledge of the business already.
Ashley: 22:23 But with even that, what I found was hiring the lawyer just made things a lot easier just because one, we were in a good position where both my partner and I, we were on good terms. So we were on the same page when it comes to what we both wanted. And so in essence that could have made things a little bit easier for the lawyer and the attorney. So with that being the case, to answer your question, working with an attorney actually made things a lot easier as compared to if we didn’t at all and kind of just did things back and forth ad hoc-type deal.
Greg: 22:51 Okay. No and that’s the information I definitely want to get out there, is the ability for people to realize a lawyer is just going to make this a little bit easier on everybody. It’s going to allow them to kind of navigate through this process, which can definitely be emotional, especially if they have a partner that is not not friendly with this whole, if you want to call it break-up, but dividing the business or purchasing the business from them for their shares so definitely can mitigate some of that stress. Now that you’ve, I mean you bought the business, as of March, you own it 100% what would that look like from the business aspect of your members? I mean owning a CrossFit gym, we talk about community a lot and we understand the community. What happens there? What did you guys do to kind of navigate through any kind of stress from the members that could possibly say, “Hey, we want that partner to be the owner, not you” or anything like that. Like what did you guys actually do? What was the process to kind of let everyone at ease, let them know what was going on? But of course not giving probably too many details.
Ashley: 24:00 Yeah, absolutely I have to say that this all started just even from the moment that we opened our doors, especially when it comes to identifying the roles of what each partner is going to be. So going into this, going into actually opening up this gym, we understood that the role of my business partner was the managing partner. He did a lot of the financials and he really just did a lot of the back-end type work. So there was only very few people who actually met my business partner.
Ashley: 24:30 And so in essence, what that truly meant was everyone knew I was an owner involved. And so when it came to that transition, I know for our gym it was relatively easy. However, I certainly know that my agreement with my business partner was actually quite unique, especially when people are getting involved and say CrossFit gyms say the partners all want to be involved, but even from the get-go, my business partner said “I want to have a little bit more of a hands-off, not the front-facing but more of the back-end type of work.” So it actually led to the transition to be a lot easier because when it came to the daily operations and the general message, it was actually at least a year, year and a half since my other business partner, my business partner was actually on the gym floor and people were actually talking to him.
Ashley: 25:20 So it just certainly simplified the process. However, I would say that if you have business partners who are say front-facing, what I found to be the most important aspect of all of this entire transition, not just on the sales closing but even the message out to the members is the idea of effective communication in regards to like what’s going to end up happening, but ultimately what it’s going to truly mean and helping leading into—was it fulfilling the goals of each party involved?
Greg: 25:56 No, that makes sense completely. Now that you are sole owner of the business, is it everything that you thought it would be? Do you feel like having a partner? Now, I know you own 90%, you have a partner that gets paid dividends for the marketing side. But overall you’re running basically the show. Is it everything you thought it was going to be?
Ashley: 26:13 Yeah, absolutely. I think if anything it certainly—it’s everything that I thought it was going to be and actually just, it’s kind of like as if you’re running with like those Nike sparq parachute things. It’s like you’re running with this parachute, but that parachute in reality, it was just in my head. Going through the sale actually just got rid of that mental parachute and it allowed me to just feel much more confident in regards to what I am doing in regards to the vision and direction of this business. And if anything, it actually helps outline a huge future for me. And especially being that my other business partner had his attention elsewhere, it was great because I was able to give him an opportunity for him to in essence focus his mind and his attention on other things that he wanted to be able to pursue as well. So to be able to have that, I guess I would say freedom, even though I have a lot more responsibility now, but it’s that responsibility but with the sense of “I can do this and make it a lot more things happen.”
Greg: 27:20 No, that makes sense. I’ve never had a partner within my business. I’ve always owned my businesses completely. And I would say that it’s probably, you’re able to streamline things. You don’t have to ask, “Hey, can we do this? Hey can we do that?” But it’s always nice to have a partner that has their specialties. Like you said, your partner was doing all the financials and the back-end work that you weren’t taken care of or didn’t have to and now you do. So do you feel like taking on all of that work has become a challenge? Do you feel like it’s easier or do you feel like more likely to hire out some of that stuff that you don’t specialize in or didn’t specialize in that the partner did?
Ashley: 28:02 Yeah. I think that when it came to taking on these additional roles and responsibilities prior to actually even talking about the sale, I just started to get a little bit more interested in regards to what my business partner was doing. I think if the buyout didn’t happen say, this year, it would have happened either at the end of this year or a year from now just because I knew that was where my head was going. So that’s actually over the past couple months, that’s actually when I started to dig a little bit deeper and trying to say “How am I going to be able to take this on? What are some things that I certainly need to understand?” And so I took it more so upon myself just because I was interested and I saw that happening, and the great thing was is that I think that my business partner also saw that happening as well, so we were able to have, a lot of our partner meetings was all a lot of him teaching me how to understand and run the financials so that I can have a better understanding of the business. And so maybe in a way he could have been grooming me for this initial purchase earlier this year. I don’t know. But I would say it was certainly something that if I didn’t take those like that month or two, getting prepared to understand the roles that he was taking, I certainly would have felt a little bit more stressed out, a little bit more concerned in regards to am I able to do this or is this something where I would need to hire out and hire someone who can manage that.
Greg: 29:32 Now let’s say somebody out there that’s listening is like, “You know what? I want to buy out my partner.” And they get to the point where they are doing the valuation on the business and the valuation is probably a much smaller number than they think. Let’s say the business is not very profitable. They’ve been in business for maybe four years or something like that, but they realize with the liabilities that they have that the assets aren’t worth a whole lot. What do you suggest somebody in that situation—do you feel like it’s smart for them to buy out that other partner at that lower rate and kind of build it up the way they want to or is it better to stick it out and kind of get the business into a certain state where it makes more sense for them to do it?
Ashley: 30:16 Yeah, I would say if someone was in that situation, there a couple of different pathways that you can choose, but it’s ultimately going to be important in regards to identifying what the other partner, like the reason why that that other partner wants to be bought out in the first place. If the other partner wants to be bought out because they’re just tired of having to, say, put so much work or put so much time into the business and say, be in this type of financial situation. It already says that the person who’s buying might not have enough of that support if they were to prolong that process. So it might actually be the perfect time to make that purchase just because you know that there would be an imbalance of energy. So I think that’s one situation in regards to after the conversation of why do you want me to buy you out in the first place.
Ashley: 31:11 If on the other hand the partner says, “All right, well I think I want to be bought out, but I’m willing to stick it out for a little bit longer to make it a profitable entity.” That really tells me that that partner has still a little bit more energy in them to try to make it work. And so in that situation I feel like there is a little bit more of an energy balance, which in essence you can combine those energies and put it to work and make it and try at least one more time to be able to put the gym, the business, in a better financial situation. So that’s kind of how I see it. Like if you have a partner who’s just completely burned out, it might be the perfect time to buy them out now just because that they might not have anything left to offer you and so it doesn’t make sense for you to just have to carry on that additional weight, I guess I would say, as compared to the other option where it’s like someone who’s on board to make things work for you.
Greg: 32:07 Got It. Well I think that’s a perfect place to wrap it up. Ashley, thank you so much for being able to jump on and sharing your experience of buying out a partner so that anyone out there that is thinking about doing this or has wanted to do this but don’t really know how to navigate, we will definitely make sure that we put your PDF in the show notes so people can download it and kind of dig through it and navigate their own situation through this. So if anybody had any questions for you, they’re like, “Hey, I want to do this. I listened to the podcast and Ashley knows how to do this and maybe he can help me out a little bit.” What’s the best way for people to contact you?
Ashley: 32:42 Yeah, if you have any questions or just want to say what’s up, you can shoot me an email at Ashley@hudsonriverfitness.net.
Greg: 32:51 Awesome. Well, thank you so much Ashley. Greatly appreciate you coming on here and sharing all of that with us and the audience and I wish the best for your ownership, sole ownership in the business and continue moving forward and doing great things.
Ashley: 33:03 All right. Thank you for having me. Hey everyone. Chris Cooper here; I’m really thrilled to see you this year in June in Chicago at the 2019 Two-Brain Summit. Every year we have two separate speaking tracks. There’s one for you, the business owner and there’s one for coaches that will help them make better, longer, more meaningful careers under the umbrella of your business. This year we’ve got some pretty amazing topics like the client success manager, how to change your life, organizational culture or the business owner’s life cycle, how to have breaks, how to have vacations, how to help your marriage survive, owning a business, motivation and leadership, how to convert more clients, how to create a GM position that runs your gym for you and leaves you free to grow your business, how to start a business owners group in your community and more.
Chris: 33:49 Point here is to do the right thing that will help gym owners create better businesses that will last them for the long term, get them to Tinker Phase, help them be more successful, create meaningful careers with their coaches and give their clients a meaningful path to long-term health. We only do one big seminar every year and that’s the Two-Brain Summit and the reason that we do that is because a big part of the benefit is getting the Two-Brain community together and welcoming strangers into our midst and showing them how amazing gym ownership really can be. We’ll have a link to the Two-Brain Summit, including a full list of all speakers and topics on both the owners and the coaches side in the show notes. I really hope to see you there.
Speaker 3: 34:33 As always, thank you so much for listening to this podcast. We greatly appreciate you and everyone that has subscribed to us. If you haven’t done that, please make sure you do. Drop a like to the episode. Share with a friend, and if you haven’t already, please write us a review and rate us on how what you think. If you hated it, let us know. If you loved it, even better. See you guys later.
Greg Strauch will be here every Thursday with the Two-Brain Radio Podcast.
Two-Brain Marketing episodes come out Mondays, and host Mateo Lopez focuses on sales and digital marketing.
On Wednesdays, Sean Woodland tells the best stories in the CrossFit community on Two-Brain Radio With Sean Woodland.
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