How to Build an Escape Room Business

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The business was called Alcatraz Escape Games. The space that you used was next to your brother's trampoline park. We were trying to get our CEO, our certificate of occupancy. And the city said, you know, this is not up to fire code. You need to have all these additional things put in. They didn't give us our CEO, which we really need it. I mean, I have quit my job. So yeah, we did the first room that we built. It ended up costing closer to 200 grand.

Patrick Donley sits down with Raleigh Williams to chat about how he left a lucrative job as an M&A lawyer to launch an entertainment group focused on investing in escape rooms. They also discuss what it was like leaving a six-figure salary, how his family reacted, and what some of the obstacles were as he bought and developed the escape rooms.

IN THIS EPISODE, YOU’LL LEARN:

00:00 - Intro

02:10 - Why Stephen Pressfield’s book, The War of Art, is his most highly recommended book for entrepreneurs.

02:22 - How to determine the highest and best use of your time.

10:42 - How to use the “Star Principle” by Richard Koch to make investments.

26:23 - What it was like working as an M&A lawyer and how he left a lucrative career behind.

30:23 - How he got his start investing in Escape Rooms.

30:44 - Why you can expect to hit resistance when you start new ventures.

33:59 - How he used social media to build his brand.

47:27 - What some of the hurdles were getting the Escape Rooms operational.

47:27 - How they found operators with the right qualities to help scale the business.

53:12 - Why it’s vital to have a spouse or partner on board when starting a new venture.

01:10:33 - What his parting wisdom is for people looking to take the next step away from their W2.

And much, much more!

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members.
The War of Art by Stephen Pressfield.
Gates of Fire Stephen Pressfield.
The Lean Startup by Eric Ries.
Good to Great by Jim Collins.
The Star Principle by Richard Koch.
The Almanack of Naval Ravikant by Eric Jorgenson.
Power of Now by Eckhart Tolle.
The Untethered Soul by Michael Singer.
The Alchemist by Paulo Coelho.
Dealmaven.io.

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