S2 E1 - The Secrets to Scaling a Business Portfolio with Jamie Weeks
Jamie was a guest on Small Business Edge in Season 1. At that time, he owned and operated over a dozen Orangetheory fitnesses. Since Jamie was on the podcast last, he has won Orangetheory fitness franchisee of the year and sold majority stakeholdership of his company. Jamie discovered Orangetheory after spending a number of years taking classes at Flywheel and discovering a passion for group fitness classes. When he started taking classes at Orangetheory, he knew that the company was doing some revolutionary in the group fitness world. After purchasing one Orangetheory franchise, he realized that he was fulfilling a passion, while doing well financially, and he continued to grow his business, buying multiple franchises in the southern US. On this episode of the podcast, Jamie shares why he decided to sell majority stakeholdership of his company, what that process was like, and what he learned from it. Jamie shares how he has been able to be so successful in the fitness industry, and the keys to success as a franchise and business owner, including the importance of valuing human capital and putting your members first, how to hire and retain great managers, and more. Discussed in this episode: The secret to success is 2 shots of espresso everyday! Why Jamie invested in Orangetheory, and why he’s decided to sell How to successfully sell a business and the importance of staying organized right off the get go Having a good accountant is really important for a successful business Having a great team is key to success with a business, and it doesn’t feel like work when you work with great people Why it’s important to keep your employees happy, and how to do so How to structure equity for your business and employees What Jamie is currently working on - Motion Stretch Studios based around the recovery aspect of fitness The importance of making new studio members feel comfortable and making the members of the studio feel like they are a part of a community The 3 keys to success Learn more about Ceterus at Ceterus.com.