EPISODE · May 4, 2023 · 1H 4M
This gym owner made $1.8M PROFIT in 10 months
from Gym World Worldwide · host John Franklin
John Franklin (https://twitter.com/JohnIsBuilding) & Mateo Lopez talk with Andrea Savard (https://www.instagram.com/asavard_firepower/) – a Two-Brain Business mentor and the co-owner of Reebok CrossFit FirePower – where she shares the ups & downs, and twists & turns of using real estate as a financial lever. How Andrea got started in real estate (1:18) The economics of buying a large gym (6:20) What Andrea wouldn't do when buying a gym (11:33) Top- and bottom-line for the gym (16:59) The beginning of Andrea's 7-year nightmare (18:02) How much goes into finding a sufficient property to buy (23:43) What happens when a deal falls through (25:53) Finding money again for a new building (30:46) I bought a space right when the pandemic hit. Now what? (34:11) What if we bought a farm and moved our gym to a rural setting? (42:46) Selling yet again. The gym still needs a home… (46:19) Real estate strategies from a real estate veteran (50:19) Advice for gym owners wanting to get into real estate (56:13) The importance of starting small (59:05) The one thing gym owners should never do (1:02:17)
What this episode covers
John Franklin (https://twitter.com/JohnIsBuilding) & Mateo Lopez talk with Andrea Savard (https://www.instagram.com/asavard_firepower/) – a Two-Brain Business mentor and the co-owner of Reebok CrossFit FirePower – where she shares the ups & downs, and twists & turns of using real estate as a financial lever. How Andrea got started in real estate (1:18) The economics of buying a large gym (6:20) What Andrea wouldn't do when buying a gym (11:33) Top- and bottom-line for the gym (16:59) The beginning of Andrea's 7-year nightmare (18:02) How much goes into finding a sufficient property to buy (23:43) What happens when a deal falls through (25:53) Finding money again for a new building (30:46) I bought a space right when the pandemic hit. Now what? (34:11) What if we bought a farm and moved our gym to a rural setting? (42:46) Selling yet again. The gym still needs a home… (46:19) Real estate strategies from a real estate veteran (50:19) Advice for gym owners wanting to get into real estate (56:13) The importance of starting small (59:05) The one thing gym owners should never do (1:02:17)
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This gym owner made $1.8M PROFIT in 10 months
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