Welcome to the Business Buyer Diaries. My name is Nathan Platter, I’m a full-time employee, and I bought a business! I did everything right from finding the deal, handling due diligence on 63 different opportunities, and ultimately buying a profitable gym, and boy was I in for a surprise as a new owner! I chronicle everything in real time, including the biggest wins to the stressful nights at 2am. I’m sharing my journey without sugarcoating anything, so you don’t repeat ...
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Nathan Platter Podcasts

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384. Bankruptcy in a different year than the discharge
5:09
5:09
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383. Nothing new in 2 months; tax filings, creditors contacting me, attorney general complaint pt 2
7:47
7:47
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382. Valuables being auctioned off, business assets sold, utilities still collecting
5:51
5:51
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381. Bankruptcy assets, staffing decisions, attorney general inquiry
8:22
8:22
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380. Buyer and lender will handle asset sale without me, bankruptcy check takes us to near $0
6:44
6:44
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379. Bankruptcy case completed, selling the business assets, party city bankruptcy
14:07
14:07
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378. Haven’t heard anything from new owner or employees, hearing this Friday
4:41
4:41
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377. Having to give consent to have our lease terminated
5:40
5:40
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376. Management started a competitor 3.1 miles away, the old managers are back, results years later
14:19
14:19
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375. Bank accessing property, focusing on dayjob, hearing next week, slowing life down
9:32
9:32
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374. Bankruptcy hearing scheduled, still working on refunds, met another entrepreneur
10:19
10:19
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373. A close confidant is keeping me in the loop, changing my ingrained responses to not be anxiety
7:35
7:35
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372. Met with corporate and didn’t feel listened to but rather them wanting to use me
13:43
13:43
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371. Studios is closed up and locked down, now everyone knows
8:47
8:47
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370. Closing part 2, you’re more likely to make your fortune as an employee vs owning a business
2:48
2:48
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369. Tonight we close the gym, it’s emotionally hard to do
7:26
7:26
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368. 2 days after filing and all but one of our credit lines are terminated on us
4:53
4:53
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367. The Closing gameplan and cadence for business pages, channels, email, and notifying everyone
8:08
8:08
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366. Filed the papers, next up is notifying people after the last class, buckle up for the ride
6:02
6:02
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364. Job titles don’t really matter, managers are always observing even if you don’t think they are
10:37
10:37
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363. WE GOT CHAPTER 7, just got 5 years younger and thousands cheaper
10:19
10:19
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362. It takes 3x more efforts to run events than people think, I’m blessed to have my challenges
6:22
6:22
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361. 60 days late on SBA, 30 days late on rent, goal is survive another 65 days
6:37
6:37
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360. Now seeing admire and more weekend hustlers, grateful I have capacity to work well
6:38
6:38
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359. Helped an interested buyer evaluate another opportunity for sale
14:15
14:15
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14:15Send us a text Ever found yourself teetering on the edge of financial chaos, struggling to maintain a balance between personal peace and business demands? Join me in this episode as I share my personal journey through the unpredictable world of managing both household and business finances with my sale-savvy yet frugal wife. We confront the harsh r…
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358. If there’s nothing more I can do then I’ve done it all, choosing to live today worth repeating
6:34
6:34
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6:34Send us a text What happens when your interim gym manager is out of town, and you're left juggling multiple roles? Join us for an engaging session as I recount the hustle of covering shifts, prepping for an upcoming fitness challenge, and managing my daily grind in the corporate world. Discover the art of distinguishing between tasks that need a qu…
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357. Upskill your coworkers and make yourself obsolete and that will get you job security
8:36
8:36
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8:36Send us a text Unlock the secrets of proactive employment and discover how cultivating a workforce ready to take on executive roles—even without the executive paycheck—can transform your business. Imagine a world where every employee is empowered to lead, manage, and innovate, ensuring seamless operations even when key leaders are absent. Through c…
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356. Quarterly team training and what I’m talking optimistic during downtimes
5:35
5:35
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5:35Send us a text What if the key to thriving in business is mastering the delicate balance between transparency and optimism? In our latest episode, we unravel the complexities of leadership as we take you behind the scenes of our instructor training event. With the success of our recent challenge, surpassing our goal with 39 participants and nurturi…
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355. Worked the night shift, the past due letters are beginning, don’t invest in stress
8:19
8:19
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8:19Send us a text Struggling to keep your business afloat or thinking about pivoting in your career? Meet Nathan, a gym owner grappling with the harsh reality of being $12,000 short this month, as he faces the daunting process of closing his gym. Share in his candid reflections on financial hardship and tough decision-making, as Nathan talks about jug…
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354. The business was dying from Day One so I feel no shame being unable to rescue a dying one
5:57
5:57
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5:57Send us a text What's truly at stake when you're fighting to keep a business on life support? Join us as I share a Sunday drive to the studio, a time typically spent planning for the week and finding a little joy in the Minnesota Vikings radio broadcasts. Yet, amidst the familiar routines, the weight of running a struggling business looms large. Co…
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353. The present is always a snapshot and doesn’t last forever, that’s why we must be grateful
8:37
8:37
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8:37Send us a text What if revisiting a beloved place from your past could stir a whirlwind of nostalgia and unexpected emotions? Join us as we embark on a heartfelt reflection of a journey that unexpectedly took us back 15 years to a pivotal moment in our lives. Our conversation starts with the high energy and engagement of a memorable event marking t…
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352. Test out for the 10 week challenge, interim GM and outgoing GM
9:01
9:01
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9:01Send us a text How do you keep afloat when the financial tide is pulling you under? This episode delves into the raw realities and intense pressures of owning a boutique fitness studio, especially when you’re an absentee owner. Join me and a fellow franchisee, as we candidly share the ups and downs of our entrepreneurial journeys. We discuss the mo…
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351. Last normal workday with my GM, feeling at peace that the business must close down
6:25
6:25
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6:25Send us a text What if closing a business felt more like liberation than failure? Join us for an eye-opening conversation where we unravel the emotional complexities of shutting down a studio amid financial turmoil. Our journey begins with the refreshing energy of a morning workout surrounded by a community that shares similar values and beliefs. T…
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350. 24 hours ago asked a friend to tag along their side hustle, just finished my 2nd shift lol
8:43
8:43
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8:43Send us a text When life's financial stresses mount, sometimes the most unexpected paths lead to the light at the end of the tunnel. Picture this: a casual chat at the studio turns into a side hustle adventure that balances late-night shifts at photo booths with the real-world challenges of credit counseling and budgeting during bankruptcy. This is…
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349. My departing found a job paying 3x, pumped for him!
6:19
6:19
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6:19Send us a text What happens when a key team member lands a dream job, leaving you to face the harsh realities of a struggling business? Join us on an emotional journey as we reflect on the impact of our employee's exciting new role at a local car dealership and what it reveals about the state of our own endeavors. As business owners, we're confront…
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348. Telling the subway guy how to become a General Manager fast
5:00
5:00
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5:00Send us a text After a spirited day at a children's birthday party, I stumbled into an enlightening conversation with a Subway employee about the trials and triumphs of new business ownership. This episode is a treasure trove of insights into how a simple chat over sandwiches can reveal the unsung heroics behind a smooth business transition. If you…
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347. If you’re paying a professional then do what they tell you to do
4:12
4:12
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4:12Send us a text Navigating the choppy waters of financial transitions can be daunting, especially when unexpected changes catch you off guard. This week, we share our own story of navigating a major shift in our professional and personal finances. After receiving significant news that reshuffled roles within our team—including the appointment of an …
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346. Be crystal clear on words, impact, practical next steps, and security
4:37
4:37
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4:37Send us a text Understanding the nuances of business terminology can be more critical than one might imagine, especially when words like "redacted" can spark unnecessary panic. Picture this: a miscommunication about document edits between myself and the GM had me envisioning blacked-out contracts, akin to scenes from a spy thriller. In this episode…
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345. Just get the task done now and don’t let it become bigger later
7:45
7:45
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7:45Send us a text What happens when a seemingly routine contract dispute unravels the fabric of trust at a business? Join me as I recount the unexpected challenges of discovering altered contracts and missing keys, which raised doubts about my team’s integrity and our document management system. It all began with a member dispute that spiraled into fi…
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344. I already know the fate of the business and the odds of turning profitable, time to accept it
7:18
7:18
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7:18Send us a text Could you imagine spending years building your dream only to face the harsh reality of financial strain? Join us as our gym owner guest shares his intensely personal journey through the highs and lows of entrepreneurship. He paints a vivid picture of the emotional and financial crossroads he's facing, sharing candid exchanges with hi…
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343. How I react to pressure, management next steps, Unknown upside.
15:52
15:52
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15:52Send us a text Feeling torn between your dreams and daily responsibilities? Join me as I share the emotional tug of war between sustaining a small business and watching coworkers indulge in personal luxuries with their bonuses. With aspirations beyond the 9-5, I recount my journey from flipping flat screen TVs to my latest venture: buying and resel…
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342. Power outage, asking for GM referrals part of life is the volatility.
9:36
9:36
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9:36Send us a text Caught in the chaos of a Twin Cities thunderstorm, I found myself juggling unexpected challenges—from tornado sirens to an unprepared GM unsure of how to react. It's a story that highlights the importance of solid crisis management and the gaps that can appear when leadership isn't proactive. Join me as I share the frustrations and i…
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341. It’s always worth asking, “why do we have that process in place? “
5:34
5:34
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5:34Send us a text Ever wondered if your business is still doing things the best way, or just the old way? Shake up your routine and learn how questioning established processes can lead to smarter decisions. This episode is your front-row ticket to our vibrant Superhero Day, where costumes aren’t just about fun, but a celebration of the incredible dedi…
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340. Want to know I gave it an Excellent run, not just a good run, bonus training
7:49
7:49
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7:49Send us a text Ever felt like time is slipping through your fingers, yet somehow you're expected to juggle multiple roles seamlessly? Join me as I navigate the ups and downs of a jam-packed Monday that demanded all my skills, from orchestrating the first of many instructor training evenings to tackling my day-to-day challenges in data analytics. De…
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339. Swing and a miss! Still looking for a manager but won 2 new members
3:56
3:56
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3:56Send us a text Ever wondered how the dual perspective of being both a studio member and a manager can transform your experience in surprising ways? Join me as we unravel the intriguing dynamics of studio life with a former manager who shares her journey of transitioning from management back to membership. Her story sheds light on how interactions s…
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338. Attending a night class to meet a potential replacement general manager
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7:45
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7:45Send us a text Ever skipped a personal event in the hope of securing a dream team member? That's the gamble we're talking about today. Picture this: a former studio star with a wealth of franchise experience is considering rejoining our team, and the excitement is palpable. But with the stakes high, skipping my son's t-ball game is a hard decision.…
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337. Continued search for a manager, handling interviews
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10:10
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10:10Send us a text Can the heart of a fitness business beat stronger with a change in leadership? Join us as we share our journey of reimagining staff roles in response to the evolving expectations of our members. The fitness world is experiencing a cultural shift where expertise in fitness techniques, nutrition, and injury prevention now takes precede…
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336. Needing to be more bold in my protective leadership
10:12
10:12
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10:12Send us a text Have you ever wondered how leadership styles can evolve and adapt in response to community challenges? Let me take you on a personal journey inside a unique studio environment where members are both customers and instructors. Faced with the disruptive influence of a toxic few, I discovered the necessity of shifting from a libertarian…
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335. Same mistake again by not being the Admin over another Facebook group (this time smaller deal)
2:42
2:42
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2:42Send us a text What happens when you lose access to a key asset in your business? Learn from our candid reflections on a real-life experience where administrative control was mistakenly handed over to someone who left the company. The scenario became a lesson in the importance of maintaining super admin privileges and having safeguards like a "kill…
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