EPISODE · May 29, 2026 · 26 MIN
#8 He Survived the UFC. Starting a Business Almost Broke Him
from The Friday Sponge · host Jack Payne
Most people wait until they have time to start a business.Mike and Jimmy never had time. Full-time police officers, fathers, husbands — and somehow, owners of a thriving martial arts franchise in Short Hills, NJ.In this episode of The Friday Sponge, Jack sits down with Chief of Police Mike and UFC fighter-turned-instructor Jimmy to talk about what building a business actually looks like when you're already stretched thin. They cover the real cost of passion projects, what a shareholders agreement protects you from (hint: it's not just strangers), why giving away a membership can be worth more than selling one, and the brutal truth about going into business with your friends.No MBA. No safety net. Just two guys who found something they loved — and refused to let time be the excuse.[00:00] — Why college kids need to think like entrepreneurs[01:11] — "We don't have extra time" — how passion creates time[03:38] — From getting picked on at school to owning a franchise at 22[06:21] — Getting punched in the face (literally and in business)[07:22] — The real rules of running a franchise[09:40] — Why giving away memberships builds a better business[13:03] — How to retain great employees without just throwing money at them[14:43] — Structuring a business so partners can exit cleanly[20:29] — The Liquid Death lesson every entrepreneur needs to hear[22:25] — Should you even go to college?[24:01] — Going into business with friends — the honest truthCompany Information: Tiger Schulman Martial Arts Short HillsInstagram @tsma_of_shorthillsWebsite: https://tsk.com/Jimmie RiveraInstagram @jimmierivera
What this episode covers
Most people wait until they have time to start a business.Mike and Jimmy never had time. Full-time police officers, fathers, husbands — and somehow, owners of a thriving martial arts franchise in Short Hills, NJ.In this episode of The Friday Sponge, Jack sits down with Chief of Police Mike and UFC fighter-turned-instructor Jimmy to talk about what building a business actually looks like when you're already stretched thin. They cover the real cost of passion projects, what a shareholders agreement protects you from (hint: it's not just strangers), why giving away a membership can be worth more than selling one, and the brutal truth about going into business with your friends.No MBA. No safety net. Just two guys who found something they loved — and refused to let time be the excuse.[00:00] — Why college kids need to think like entrepreneurs[01:11] — "We don't have extra time" — how passion creates time[03:38] — From getting picked on at school to owning a franchise at 22[06:21] — Getting punched in the face (literally and in business)[07:22] — The real rules of running a franchise[09:40] — Why giving away memberships builds a better business[13:03] — How to retain great employees without just throwing money at them[14:43] — Structuring a business so partners can exit cleanly[20:29] — The Liquid Death lesson every entrepreneur needs to hear[22:25] — Should you even go to college?[24:01] — Going into business with friends — the honest truthCompany Information: Tiger Schulman Martial Arts Short HillsInstagram @tsma_of_shorthillsWebsite: https://tsk.com/Jimmie RiveraInstagram @jimmierivera
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#8 He Survived the UFC. Starting a Business Almost Broke Him
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