Baseball Cards Fund Strip Clubs
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A story about how Eric Langan built an $800M publicly traded strip club company starting with money from selling baseball cards.
"This guy named Eric, he's 21 years old and starts dating this woman. He sees that her place of work is not exactly treating her respectfully. He says, 'If I created a business that treated my employees better, I think I could retain them better and build a better business.'
He had accumulated really nice baseball cards over 10 years of collecting. He takes them to a convention, sells them, and now has $44,000 in cash. He decides to start his first strip club.
Eventually he takes the company public under the symbol RICK. Now it's an $800M market cap company doing something like $300M in revenue and $80M in cash flow. They basically buy mom and pop strip clubs for 1 or 2 times revenue, put operational processes in place, and have built this empire where guys like Drake and Pitbull rap about his clubs.
He's got a crazy clientele and has turned it into this wonderfully cash flowing company that buys up local strip clubs and improves them."
Sam Parr
Host of MFM and fitness influencer
Sam Parr is a serial entrepreneur and business media pioneer.
In 2016, he founded The Hustle, a business news media company that started in his kitchen with just $12 and grew to eight figures in revenue.
Sam led the charge in making newsletters popular when few believed in their potential.
After four successful years, he sold The Hustle to HubSpot, a publicly traded company. Now operating as HubSpot Media, The Hustle reaches 3 million readers daily, employs a team of nearly 100, and has been the launchpad for dozens of its staff to found their own media companies and newsletters.
Sam remains the host of the popular business podcast, My First Million, and continues to start and sell companies. He also co-founded Hampton, a highly vetted community for entrepreneurs, founders, and CEOs, and teaches people to write better through his platform, Copy That.