Business Buying Academy From Homeless To Owner Of 20+ Businesses - Khai Nguyen
Nov 20, 2024
Khai Nguyen, founder of Powers Gymnastics and a savvy investor, shares his transformative journey from homelessness to owning over 20 businesses. He discusses early struggles on Wall Street, the importance of building rapport with fellow business owners, and innovations like the Ninja Warrior program. Khai candidly reveals the ups and downs of the gymnastics industry, emphasizing strategic growth and community engagement. His resilience and insights offer a fresh perspective on entrepreneurship and the potential of youth sports.
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Buying Dog Grooming Business
- Khai bought a dog grooming business with $100k down and $50k seller finance tied to an owner who had tried selling for 5 years.
- He won the owner over by building trust first instead of immediately discussing financials.
Build Rapport Before Financial Talks
- Build rapport quickly before discussing financials to connect with owners who have strong intuition about buyers.
- Spend time listening to their story to humanize yourself and gain trust faster.
Starting Powers Gymnastics
- Khai entered the gymnastics business post-divorce, investing personal funds in the first facility in Arizona.
- They improved facilities, focused on basics, and prioritized taking care of parents, kids, and coaches equally.