We talk a lot about online businesses and freelancing at Rich20 — and for good reason: These are probably the easiest types of ideas to launch quickly with little to no money.
(You don’t need any angel investors to get a tutoring or web design business off the ground. I’m just sayin’…)
But one of the biggest questions I get is: “What if I want to start a REAL business…you know, with like, a physical location or a storefront.”
On one hand, this makes me shake my fist in fury. Arrgh!
Don’t you EVER…
Digital, service-based businesses like consulting, freelancing, etc ARE real businesses.
Buttttt, I get what you’re saying. Traditionally when we think of starting a business, we think of a physical location that sells a product or experience.
Wouldn’t it be cool to own a building with your name on it? Duh. Of course it would be.
Maybe you want to start a restaurant that serves food like your mom used to make…
Or open up your neighborhood’s favorite antique bookstore.
These are great ideas. Then reality hits and nagging questions start to weigh us down.
Questions like…
- How the hell do I finance something like that?
- How much money does it take to open up a storefront?
- Am I going to need to get a loan?
- How do I find a location?
- How do I buy supplies and equipment before I have any cash flow?”
- How do I get people to actually show up at the door, try my stuff and become customers?
It can definitely be overwhelming.
That’s why I’m excited…no…PUMPED to bring you a special interview today with my friend Eddie Avakoff.
I’m guessing he couldn’t take a more badass picture if he tried. Just a guess.
Eddie just turned 27 — and he’s the owner of Metroflex Gym Long Beach.
(He just opened his second Metroflex location nearby last month, actually.)
“Cool story bro — a gym. Is that all?”
No, you need to pay attention.
Metroflex isn’t like any other gym you’ve ever visited. In fact, in the span of 4 years, it’s become one of the most sought-after fitness destinations on the planet — attracting international tourists, world champions and many other freaks of nature. It’s especially popular on YouTube, where it has become the new mecca for fitness celebrities and regularly attracts tens of millions of views.
It’s kinda serious.
Take a quick 360-degree virtual tour of my iron paradise…
Can you spot the DJ booth? You’ll often find Eddie up their spinning EDM getting people pumped up.
In fact, Metroflex was pretty much the ONLY thing I knew about California before I moved here in 2013 — and it was the reason Sara and I originally moved to Long Beach.
(She doesn’t know that. I don’t think she’ll read this.)
I took one look at the gritty concrete floors, the unbelievable murals and the larger-than-life athletes at that gym and knew I had to be a part of it.
There’s one problem though: When you see pictures or watch videos online, you’re seeing a product that’s already been perfected.
You see a profitable business that’s been bought and paid for. A location that’s already popular, full of dedicated customers, with profits rolling in.
But what does it TAKE to get to that point?
How do you start from NOTHING and build a rock-solid “brick and mortar” business that actually turns a profit and creates a culture of loyal fans and raving customers?
That’s what Eddie and I sat down to chat about.
And to clarify for the naysayers among us, NO:
- He didn’t have a rich uncle to invest in him.
- He didn’t have any experience running his own business (his parents aren’t entrepreneurs)
- He didn’t even have a bed to sleep on.
Just like you, he started from the very BOTTOM. In fact, he even made a video series documenting his journey when Metroflex was nothing but an empty warehouse.
This was Day 1…
More of the Metroflex progress videos here
He didn’t get ANY handouts — and now, just a 4 years later, Metroflex is on track to have it’s first million-dollar year.
Wouldn’t you like to know how he did it?
No no, let me answer that for you. You NEED to know this.
In this candid chat, we talk about:
- 2:00 — How Eddie got interested in fitness, and his journey through school
- 7:15 — Why Eddie never saw himself as an entrepreneur
- 8:20 — How he leveraged the methods and skills that he was good at to turn his passion into a business
- 13:23 — How to get from where you are to where you want to be —the “Startup Phase”
- 15:10 — Rough times: Losing almost $100k in just a month and a half (and even losing his girlfriend)
- 19:15 —Eddie’s big ‘ah ha’ moment in his, and why it caused a major shift in his business
- 20:34 —How being authentic and positive grew Metroflex rapidly
- 21:53 — Profits: How he started making money quickly
- 25:17 — The impact and importance of cultivating a community and how it helped the gym grow rapidly
- 26:07 — Confession: The humbling story of sacrificing everything to make it happen
- 28:52 — How Eddie learned to leverage the power of youtube and social media — and why viral media is so powerful
- 31:00 — How to rally a community of experts around your mission and vision
- 32:28 — How to leverage ‘hot trends’ and turned them into revenue
- 33:38 — The branding tactics he will be using for Metroflex going forward
- 39:20 — Tactic: how to start a gym from scratch and turn it into a franchise
- 45:35 —The journey from -$20k to $500k in less than 2 years
- 46:56 — How to reinvest your money for bigger projects and new ideas
Start streaming our conversation below. Do you have any questions for Eddie? Leave them in the comments and I’ll see if he’ll jump in and help out 
(Note — I recorded this on my iPhone — so you may want to listen with headphones).
Podcast: Play in new window | Download
