John Franklin (https://twitter.com/JohnIsBuilding) & Mateo Lopez chat with gym owner Jared Byczko (https://www.instagram.com/jabyczko/), about how he was able to land a monster deal in real estate that included multiple years of FREE rent. His story proves you can make mistakes in business and still win big if you do a few key things right.
P.S. If you like the show, then you'll love the Gym World newsletter. Every Friday, John Franklin breaks down the possibilities of making money in the fitness industry. Subscribe here (https://usekilo.com/gym-world/) so you don't miss out.
Show Notes:
(00:00) Introducing Jared Byczko
(3:54) What is functional retirement?
(8:46) The secret wealth-building hack
(9:54) Starting & growing a CrossFit gym in Indianapolis
(12:07) Buying a building with SBA & refinancing
(17:24) Navigating the SBA loan process
(19:08) Putting together the down payment
(21:20) Picking a location on the path of progress
(24:25) Scaling a fitness business with multiple programs
(27:04) Simplifying his gym operations
(30:16) Sponsored message: Run a successful gym with Kilo (visit https://usekilo.com/)
(32:12) The impact of COVID on the business
(34:03) Getting approached to sell & negotiating deals
(40:05) Where Jared's new facility will be located
(43:31) Discussing THE deal
(47:24) Renegotiating the deal & re-trading at the last minute
(50:55) Ending a business partnership
(57:45) What's next for Jared's gym business?
(59:55) Where to go if you want to find Jared
