2 Businesses2 Babies

0:00My wife and I do business coaching for pelvic floor physical therapy practices. We did 2.1 last year. The actual problem is that we have a 3-year-old and a 1-year-old and two other businesses, a actual brick-and-mortar location, and we run a conference every year in Atlanta. So, you have three businesses. >> Okay. What do you think I'm going to say? >> I think you're going to say to shut down the brick-and-mortar practice because it's the lowest margin, it's the biggest headache, it's the most people, and we're emotionally tied to it, and by we I mean my wife. So, I just need to hear you say that

0:30>> [laughter] >> so I can tell her what you said cuz I would burn it down for the insurance money tomorrow. >> [laughter] >> It's 1.7 million top line and 350K last year in profit. It's just that we continue to get sucked back in every time somebody leaves, we come back in for onboarding, every time, you know, there's a problem, we step in. It's a small business. >> Can you sell it to anyone who's in the business so they don't have to fire everyone? >> So, probably not. The only person who would really want to buy it is a pelvic floor physical therapist. They don't have that kind of cash to be able to do that.

1:00>> Well, you're not Let's So, let's think of an alternative. Is it just shut it down, right? Which would cost you money. Shutting a business down is actually harder than transferring to somebody else. Okay. You probably have a big network of pelvic floor people who would love to have a practice like that. And so, I'd rather say like, "Here is my big bag of overhead and big bag of risk, and in exchange you just don't talk to me again." So, you get your $350,000 a year, >> and you're walking away. >> Right, yeah. And you can walk away much faster. I'll just tell you this too, maybe it'll break your wife's belief around it, but um how many gyms do you think I had during Gym Launch when I launched that?

1:30>> I don't know. >> I went from six to zero in 90 days, and I sold the six for the price of one. And it was because I really thought that Gym Launch was going to work, and within six months I was doing a million a month in Gym Launch. And so, the thing about this way is that like you should be making an extra two or three million dollars a year immediately, and you're holding on to 350 to prevent you from making an extra three. >> Perfect. Thank you so much. Really appreciate it.