From Gym Member to Owner: Chris’s Business Purchase Journey
Chris's journey wasn’t without challenges, but the insights he gained along the way were invaluable. If you've ever considered purchasing a business, his experience offers valuable lessons and inspiration.
Chris never set out to own a gym - it all started with a casual conversation. After spending countless hours there with his kids, he learned from the manager that the owner was open to offers. Seeing a unique opportunity to turn his passion into ownership, Chris seized the moment and took action.
"I had been talking with the gym manager for a while about ways to improve the gym for everyone," said Chris. "When I found out the owner was considering offers, I thought, ‘Wow, this could be my chance.’ I realized I could actually make a real impact here."
Chris was able to purchase the gym outright, opting to self-fund the deal to maintain flexibility. But taking over the business proved more challenging than he anticipated.
How it all started
Chris doesn’t consider himself a risk-taker - in his own words, he’s “overly cautious.” But when the opportunity to buy his local gym arose, he decided to take the leap after consulting with his financial advisor. “They told me, ‘If you’re going to do this, you need to act before someone else realizes it’s a good deal - and you have the finances to make it happen,’” Chris shares.
For Chris, taking on debt wasn’t an option. “That’s just a personal thing,” he explains. “I wanted the freedom to shut the doors and walk away if I needed to. Luckily, this purchase was small enough that I could do that.” With this approach, he was able to maintain flexibility and control over his decision.
Chris connected with SMB.co through a trusted friend, a resource that would prove invaluable as he transitioned into business ownership. If you’re considering a business purchase, Chris’s story is a reminder that sometimes cautious steps can lead to big opportunities.
Why Chris chose SMB.co: Guidance, advocacy, and results
Chris didn’t embark on this journey alone - he turned to SMB.co for critical guidance and support. Facing the complexities of due diligence and the overall business purchase process, he quickly realized how much he didn’t know.
“I didn’t know where to look for information on everything I should be doing. SMB.co was amazing at connecting me with the right information at the right time - and more importantly, the right people for my team,” Chris explained.
From the beginning, SMB.co provided Chris with a network of trusted experts in legal, accounting, insurance, and more, ensuring he had the support needed to avoid potential pitfalls.
“There’s no way I could have navigated this process without major pitfalls if it weren’t for the team at SMB.co. Their guidance was essential,” Chris shared.
What stood out most to Chris was the personalized approach of the SMB.co team. “Everyone they introduced me to was more than willing to answer my questions - even the ‘stupid’ ones,” he said. “They reiterated things as often as I needed and walked me through the process of buying a business step by step.”
SMB.co’s advocacy didn’t just provide answers - it empowered Chris with knowledge and confidence.
“Having people who could explain things - not just tell me what to do - was a game-changer. They had a ‘spirit of teachers’ that made sure I understood the details and felt confident in my decisions,” he said.
That level of support helped Chris feel less isolated during the process. “The safety net of people I could actually call up and say, ‘What about this?’ made me so much more confident to go through with the deal,” Chris said.
The results speak for themselves. With SMB.co’s guidance, Chris successfully navigated his first business purchase and avoided the common pitfalls that many new owners face.
Reflecting on his experience, Chris is now an advocate for SMB.co’s unique blend of tools, resources, and personalized support.
“I’ll recommend SMB.co to anyone looking to buy a business - not just as a great tool but as an advocacy and guide service. You can’t do this alone, and with SMB.co, you don’t have to.”
Advice for aspiring business buyers
For those considering a business purchase, Chris has learned firsthand that success isn’t just about finding the right opportunity - it’s about having the right support and strategy in place. Here’s his advice for anyone thinking about taking the leap into business ownership:
- Find a Trusted Advisor or Mentor: “Having someone who’s been through it before can save you time, money, and a lot of headaches,” Chris says. A trusted advisor can provide perspective, guide you through tough decisions, and help you avoid costly mistakes.
- Invest in Expertise Upfront: Chris emphasizes the importance of bringing in the right experts early in the process. “It’s better to pay for the right help upfront than to deal with expensive mistakes down the road.” But for him, the lesson went even deeper.
- Every new challenge comes with a resource cost - whether it’s time, money, or both. Having an expert on your side doesn’t just make things easier, it dramatically reduces that cost. You can choose not to invest upfront, but that only raises the stakes later when costly mistakes surface. “This was driven home to me during this process, and I wish I had understood it earlier,” Chris shared. The right legal, financial, or operational guidance isn’t just helpful - it can be the difference between a smooth transition and a painful one.
- Lean on a Support System: Business ownership can feel overwhelming, but surrounding yourself with people who support and believe in your success can provide the encouragement and motivation you need. “You need people in your corner who can remind you why you started and help keep you on track,” Chris says.
- Don’t Go It Alone: “Navigating the process solo can be overwhelming,” Chris admits. There are countless moving parts, and without the right resources, it's easy to miss critical steps. Having a team you can trust helps you stay focused and confident.
- Use SMB.co: Chris highly recommends SMB.co to aspiring business buyers, calling it a game-changer in his journey. “SMB.co was more than a tool - it was an advocacy and guide service that helped me every step of the way. I couldn’t have done this without them.”
By following these steps and leveraging the right resources, aspiring buyers can set themselves up for success and avoid many of the challenges that come with purchasing a business.
The reality of business ownership
Owning a business isn’t for the faint of heart, and Chris knows this better than most. Balancing his new role as a gym owner with his full-time job has been a challenge. “I’m working 12-14 hours at the gym while still holding down my 9-to-5 job,” Chris shared. “It’s exhausting, but I knew this wouldn’t be easy.”
The gym is currently in its growth stage and isn’t profitable yet, but Chris is determined to turn that around. “I went into this knowing it would take time to clean things up and make improvements, but I’m confident I’ll get there,” he said.
One of his biggest wins so far has been retaining the gym’s manager, whose expertise has been invaluable. “Keeping our gym manager on board was a top priority,” Chris explained. “I incentivized her to stay, and she’s been key to stabilizing operations and keeping the team motivated.”
Chris’s focus now is on the foundational work - cleaning up processes, improving operations, and making strategic changes to position the gym for long-term success. “This isn’t a quick win. It’s about laying the groundwork for something that can thrive in the future,” he said.
While the journey has been anything but easy, Chris’s persistence and willingness to tackle the challenges head-on are setting the stage for success. “Owning a business is hard, no doubt about it. But with the right mindset and support, you can pull through,” Chris added.
Final Reflections
Chris’s journey proves that owning a business isn’t just about making the purchase - it’s about navigating the ups and downs with determination, resilience, and the right support system. His experience highlights the reality of entrepreneurship: it’s tough, it’s time-consuming, and it’s full of unexpected challenges. But with the right guidance, it’s also incredibly rewarding.
Whether it's finding trusted advisors, investing in expertise early, or leaning on a support network like SMB.co, Chris’s story shows that you don’t have to go it alone. Success in business ownership isn’t just about working hard—it’s about working smart and surrounding yourself with the right people and resources.
Thinking about your own business purchase? SMB.co is here to guide you through every step, from due diligence to long-term success. Let’s make your business ownership journey a reality - together.
Check out Chris’s gym at https://adrenalinesf.com/ !
