BiggerPockets Business Podcast 59: A Sweet Deal: Buying a Chocolate Company With No Money Out of Pocket With Ryan Novak
Have you ever thought about taking over an existing business? Would you like to purchase a business with no money out of your pocket? Have you ever considered what it would take to expand a local business nationally?
All these questions—and more—are answered on this week’s podcast.
Ryan Novak, owner of ChocolatePizza.com, graduated college and then went back to buy the small, local chocolate shop that he had worked in since he was 14 years old. He negotiated a no-money-down deal that left him as the sole owner of the shop—and an opportunity to grow the brand nationally.
Using the power of the internet, Ryan has grown ChocolatePizza.com to a seven-figure company, shipping chocolate treats and gifts all around the United States. And at the same time, he has grown that local shop into a successful business in and of itself.
On this episode, Ryan talks about how he acquired Chocolate Pizza, how he used what he learned in business school to grow and expand with over a dozen employees, and how he is now using the circumstances of the coronavirus pandemic to extend his brand even further. He tells us how he’s evolved his product offering to surprise and delight his customers and get people talking about the company to expand his reach.
In addition, Ryan tells us how he’s giving back to his community. And specifically how he is using a local mentorship program he’s created to build a win/win for his business—hiring local high-school students to train them in business, while at the same time getting the benefit of low-cost employees, who are excited to learn and work.
Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!
In This Episode We Cover:
- The unique real estate strategy of lending and pitching to developers
- How the recession helped him become an entrepreneur
- How he developed a plan for a hotel restoration
- How he focused on building a franchise prototype
- How he coined the company's core values
- How he communicates the core values during the hiring process
- How he created a syndication that is more than just about real estate
- And SO much more!
Links from the Show
- BiggerPockets
- Hallmark
- CMT
- CNBC
- How The Young Founder Of Chocolate Pizza Factory Shares Success Secrets And Supports Youth
Check the full show notes here: http://biggerpockets.com/bizshow59
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