I Built a $9M Company And Got Nothing

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Nov 18, 2025

Kevin Bartchlett, founder of a compostable toilet company that sold for $9M but left him with nothing due to a handshake agreement, shares his hard-earned lessons. He reveals the moment he realized his payout had vanished and the costly risks he took on trust alone. Despite the setbacks, Kevin remains optimistic and discusses his exciting new venture: a flying car prototype. His journey emphasizes the importance of getting everything in writing and going all in when you bet on yourself.

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ANECDOTE

Built A $9M Toilet Company And Got Nothing

Kevin built a compost-toilet business that sold for roughly $9–9.5M but he received zero dollars from the exit.
The sale outcome surprised him because his expected payout (around 15%, later discussed ~6%) vanished at closing.

ADVICE

Always Get Terms In Writing

Get ownership and exit terms in writing from day one, no matter how trustworthy someone seems.
Verbal agreements and handshakes left Kevin with no legal standing during the sale process.

ANECDOTE

Buyout Plans Crippled By SBA Rule Changes

Kevin tried to buy out the company and planned to use an SBA loan for roughly $5M of the purchase.
New SBA rules and seller financing expectations shattered that plan and revealed the owner's unwillingness to fully finance the deal.

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Kevin Bartchlett built a $9M compost toilet company from the ground up – and walked away with nothing. No contract, no payout, just a handshake. That blind faith turned into a hard lesson in trust that cost him everything – and now, the reason he’s rebuilding on his own terms.

Here’s what we talk about:

Building a $9M business from scratch – with zero equity in writing
The moment he realized his million-dollar payday was gone
How a $9M sale turned into $0 overnight
What “sweat equity” really means when it’s only a handshake
How trusting the wrong partner cost him ownership and peace of mind
Why he still refuses to be angry about it
What he’s building next (yep, it involves flying cars)
The lesson behind it all: if you’re going to bet on yourself, go all in

Cool Links:

Hampton https://www.joinhampton.com/
Lower Street https://www.lowerstreet.co/
Kevin Bartchlett https://www.linkedin.com/in/kevin-a-bartchlett-262233ba/

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Chapters:

(1:58) Building a Compostable Toilet Empire – The Dream of a Big Exit
(3:22) When Expectations & Reality Collide
(4:24) Picking Up the Pieces: What Happens After the Deal
(6:01) The True Cost of Not Getting It in Writing
(9:41) Why Compostable Toilets?
(11:21) Meeting His Future Partner & Early Roles
(14:56) Overinvested, Under-Rewarded: The Ownership Dilemma
(20:28) Chasing Success, Counting the Cost
(22:28) The Road to Resignation
(24:49) Finding Empathy for His Partner
(27:02) New Ventures: Flying Cars
(29:12) Reflections – Betting on Yourself

This podcast is a ridiculous concept: high-net-worth people reveal their personal finances. Inspired by real conversations happening in the Hampton community.

Your Host: Harry Morton

Founder of Lower Street, a podcast production company helping brands launch and grow top-tier podcasts.
Co-parents a cow named Eliza.