Business Buyer Diaries: the Reality Before, During, and After

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 the same mistakes I do. Join the Business Buyers Club! https://businessbuyersclub.com/memberships Enter code 070499 Learn Due Diligence for yourself! https://dealacademy.app.clientclub.net/courses/offers/75e59f69-9746-4b94-a6cd-562bcc9347d1 Enter code SanterMedia, my goto Gym Marketing Agency https://go.santermedia.com/nathan Tell them Nathan sent you!

Episodes

359. Helped an interested buyer evaluate another opportunity for sale

December 29, 2024 • 14 mins

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Ever found yourself teetering on the edge of financial chaos, struggling to maintain a balance between personal peace and business demands? Join me in this episode as I share my personal journey through the unpredictable world of managing both household and business finances with my sale-savvy yet frugal wife. We confront the harsh realities of unexpected expenses that push us into overdrafts and the looming specter o...

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358. If there’s nothing more I can do then I’ve done it all, choosing to live today worth repeating

December 28, 2024 • 6 mins

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What happens when your interim gym manager is out of town, and you're left juggling multiple roles? Join us for an engaging session as I recount the hustle of covering shifts, prepping for an upcoming fitness challenge, and managing my daily grind in the corporate world. Discover the art of distinguishing between tasks that need a quick fix and those that require a more thoughtful, documented approach. I share my...

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357. Upskill your coworkers and make yourself obsolete and that will get you job security

December 27, 2024 • 8 mins

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Unlock the secrets of proactive employment and discover how cultivating a workforce ready to take on executive roles—even without the executive paycheck—can transform your business. Imagine a world where every employee is empowered to lead, manage, and innovate, ensuring seamless operations even when key leaders are absent. Through candid anecdotes and real-world challenges, we highlight the critical need for delegati...

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356. Quarterly team training and what I’m talking optimistic during downtimes

December 26, 2024 • 5 mins

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What if the key to thriving in business is mastering the delicate balance between transparency and optimism? In our latest episode, we unravel the complexities of leadership as we take you behind the scenes of our instructor training event. With the success of our recent challenge, surpassing our goal with 39 participants and nurturing 64 promising leads for the next round, we delve into our strategic approach to conv...

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355. Worked the night shift, the past due letters are beginning, don’t invest in stress

December 25, 2024 • 8 mins

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Struggling to keep your business afloat or thinking about pivoting in your career? Meet Nathan, a gym owner grappling with the harsh reality of being $12,000 short this month, as he faces the daunting process of closing his gym. Share in his candid reflections on financial hardship and tough decision-making, as Nathan talks about juggling debts and crafting a strategic exit plan with his attorney. His gym might be on ...

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354. The business was dying from Day One so I feel no shame being unable to rescue a dying one

December 24, 2024 • 5 mins

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What's truly at stake when you're fighting to keep a business on life support? Join us as I share a Sunday drive to the studio, a time typically spent planning for the week and finding a little joy in the Minnesota Vikings radio broadcasts. Yet, amidst the familiar routines, the weight of running a struggling business looms large. Conversations with my unwaveringly supportive wife offer a poignant reflection...

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353. The present is always a snapshot and doesn’t last forever, that’s why we must be grateful

December 23, 2024 • 8 mins

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What if revisiting a beloved place from your past could stir a whirlwind of nostalgia and unexpected emotions? Join us as we embark on a heartfelt reflection of a journey that unexpectedly took us back 15 years to a pivotal moment in our lives. Our conversation starts with the high energy and engagement of a memorable event marking the end of a 10-week adventure. We dive into the poignant reminder of life's fleet...

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352. Test out for the 10 week challenge, interim GM and outgoing GM

December 22, 2024 • 9 mins

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How do you keep afloat when the financial tide is pulling you under? This episode delves into the raw realities and intense pressures of owning a boutique fitness studio, especially when you’re an absentee owner. Join me and a fellow franchisee, as we candidly share the ups and downs of our entrepreneurial journeys. We discuss the mounting financial struggles and the intense competition from both high-end health clubs...

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351. Last normal workday with my GM, feeling at peace that the business must close down

December 21, 2024 • 6 mins

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What if closing a business felt more like liberation than failure? Join us for an eye-opening conversation where we unravel the emotional complexities of shutting down a studio amid financial turmoil. Our journey begins with the refreshing energy of a morning workout surrounded by a community that shares similar values and beliefs. This stark contrast highlights the burden of keeping a business afloat amidst stress an...

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350. 24 hours ago asked a friend to tag along their side hustle, just finished my 2nd shift lol

December 20, 2024 • 8 mins

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When life's financial stresses mount, sometimes the most unexpected paths lead to the light at the end of the tunnel. Picture this: a casual chat at the studio turns into a side hustle adventure that balances late-night shifts at photo booths with the real-world challenges of credit counseling and budgeting during bankruptcy. This is a story of resilience, where the pursuit of opportunity amid financial hardship ...

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349. My departing found a job paying 3x, pumped for him!

December 19, 2024 • 6 mins

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What happens when a key team member lands a dream job, leaving you to face the harsh realities of a struggling business? Join us on an emotional journey as we reflect on the impact of our employee's exciting new role at a local car dealership and what it reveals about the state of our own endeavors. As business owners, we're confronted with tough decisions regarding transparency and the balance between shari...

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348. Telling the subway guy how to become a General Manager fast

December 18, 2024 • 5 mins

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After a spirited day at a children's birthday party, I stumbled into an enlightening conversation with a Subway employee about the trials and triumphs of new business ownership. This episode is a treasure trove of insights into how a simple chat over sandwiches can reveal the unsung heroics behind a smooth business transition. If you've ever wondered about the secret sauce that makes employee-owner relations...

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347. If you’re paying a professional then do what they tell you to do

December 17, 2024 • 4 mins

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Navigating the choppy waters of financial transitions can be daunting, especially when unexpected changes catch you off guard. This week, we share our own story of navigating a major shift in our professional and personal finances. After receiving significant news that reshuffled roles within our team—including the appointment of an interim GM alongside our current GM who is transitioning out with severance—we found o...

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346. Be crystal clear on words, impact, practical next steps, and security

December 16, 2024 • 4 mins

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Understanding the nuances of business terminology can be more critical than one might imagine, especially when words like "redacted" can spark unnecessary panic. Picture this: a miscommunication about document edits between myself and the GM had me envisioning blacked-out contracts, akin to scenes from a spy thriller. In this episode, I recount the importance of ultra-clear communication, the process of tran...

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345. Just get the task done now and don’t let it become bigger later

December 15, 2024 • 7 mins

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What happens when a seemingly routine contract dispute unravels the fabric of trust at a business? Join me as I recount the unexpected challenges of discovering altered contracts and missing keys, which raised doubts about my team’s integrity and our document management system. It all began with a member dispute that spiraled into finding redacted sections in our documents—a discovery that left me questioning both my ...

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344. I already know the fate of the business and the odds of turning profitable, time to accept it

December 14, 2024 • 7 mins

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Could you imagine spending years building your dream only to face the harsh reality of financial strain? Join us as our gym owner guest shares his intensely personal journey through the highs and lows of entrepreneurship. He paints a vivid picture of the emotional and financial crossroads he's facing, sharing candid exchanges with his father-in-law, a telecom CEO, who offers both wisdom and tough love. As our gue...

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343. How I react to pressure, management next steps, Unknown upside.

December 13, 2024 • 15 mins

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Feeling torn between your dreams and daily responsibilities? Join me as I share the emotional tug of war between sustaining a small business and watching coworkers indulge in personal luxuries with their bonuses. With aspirations beyond the 9-5, I recount my journey from flipping flat screen TVs to my latest venture: buying and reselling used MacBooks. It's a testament to the grind, as I strive to maintain equili...

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342. Power outage, asking for GM referrals part of life is the volatility.

December 12, 2024 • 9 mins

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Caught in the chaos of a Twin Cities thunderstorm, I found myself juggling unexpected challenges—from tornado sirens to an unprepared GM unsure of how to react. It's a story that highlights the importance of solid crisis management and the gaps that can appear when leadership isn't proactive. Join me as I share the frustrations and insights that come from navigating such turbulent moments at work, while refl...

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341. It’s always worth asking, “why do we have that process in place? “

December 11, 2024 • 5 mins

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Ever wondered if your business is still doing things the best way, or just the old way? Shake up your routine and learn how questioning established processes can lead to smarter decisions. This episode is your front-row ticket to our vibrant Superhero Day, where costumes aren’t just about fun, but a celebration of the incredible dedication of our members. With Spider-Man masks and Deadpool outfits lighting up the gym,...

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340. Want to know I gave it an Excellent run, not just a good run, bonus training

December 10, 2024 • 7 mins

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Ever felt like time is slipping through your fingers, yet somehow you're expected to juggle multiple roles seamlessly? Join me as I navigate the ups and downs of a jam-packed Monday that demanded all my skills, from orchestrating the first of many instructor training evenings to tackling my day-to-day challenges in data analytics. Despite a smaller-than-hoped-for turnout at the training, the commitment of those w...

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Business Buyer Diaries: the Reality Before, During, and After

Episodes

.css-14f5ked{margin:0;word-break:break-word;display:-webkit-box;-webkit-box-orient:vertical;box-orient:vertical;-webkit-line-clamp:2;overflow:hidden;}359. Helped an interested buyer evaluate another opportunity for sale

.css-r6mb8g{margin:0;word-break:break-word;display:-webkit-box;-webkit-box-orient:vertical;box-orient:vertical;-webkit-line-clamp:1;overflow:hidden;}358. If there’s nothing more I can do then I’ve done it all, choosing to live today worth repeating

357. Upskill your coworkers and make yourself obsolete and that will get you job security

356. Quarterly team training and what I’m talking optimistic during downtimes

355. Worked the night shift, the past due letters are beginning, don’t invest in stress

354. The business was dying from Day One so I feel no shame being unable to rescue a dying one

353. The present is always a snapshot and doesn’t last forever, that’s why we must be grateful

352. Test out for the 10 week challenge, interim GM and outgoing GM

351. Last normal workday with my GM, feeling at peace that the business must close down

350. 24 hours ago asked a friend to tag along their side hustle, just finished my 2nd shift lol

349. My departing found a job paying 3x, pumped for him!

348. Telling the subway guy how to become a General Manager fast

347. If you’re paying a professional then do what they tell you to do

346. Be crystal clear on words, impact, practical next steps, and security

345. Just get the task done now and don’t let it become bigger later

344. I already know the fate of the business and the odds of turning profitable, time to accept it

343. How I react to pressure, management next steps, Unknown upside.

342. Power outage, asking for GM referrals part of life is the volatility.

341. It’s always worth asking, “why do we have that process in place? “

340. Want to know I gave it an Excellent run, not just a good run, bonus training

Popular Podcasts

359. Helped an interested buyer evaluate another opportunity for sale

358. If there’s nothing more I can do then I’ve done it all, choosing to live today worth repeating