A New Realm – A New Life (Part 3)

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Motivated w/ the desire to find lifestyle relief I considered all my options.

I needed to double my income.

In the nine to five realm, that meant I had to go back to school.

For me, physician assistant school.

PA school costs about $100,000 dollars and about 2 years of your life to complete.

After the two years, I’d be looking at about $120,000ish a year plus a 30 to 40-hour work weeks.

The math NEVER added up. There are only 24 hours in a day! My income would be capped!

To make things worse, it’s likely I’d only be allowed two weeks of vacation per year.

The math didn’t add up. 2 weeks a year is not enough!

The idea of trading one nine to five job for another did not align with the drive, passion and big vision I had for my wife and for our future family.

(Besides I bounced around enough jobs already to know – it’s just more of the same misery in the long run.)

So, it was clear.

I needed to move out from the traditional nine to five realms.

I dug back back into the four-hour workweek.

After re-visiting chapter 9, “Finding the Muse”, I realized the need for leverage via becoming my own boss.

AKA – take control of my life, it was time to get to work. 

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What could the 4-hour week teach me about busting out?

Tim talks about finding your MUSE.

Basically, ideas on what business you could start and automate using the internet…

I was hesitant on moving to online business operations so instead I looked at traditional businesses I could buy into and automate with employees.

I had my degree in exercise science and being a passionate health and wellness individual, I considered opening my own gym franchise.

Here’s the cost for doing that.

The franchise: $25,000 – $38,000

Exercise equipment to fill the gym: $80,000.

Leasing the building: $2,000 per month.

I’d have to have anywhere between two and five employees, let’s just say with an average salary of $30,000 a year per person.

So, I’m looking at an up-front cost of about $100,000 and a yearly minimum overhead of a $120,000.

To break even, I’d have to make my first $225,000 to crawl out of the hole of debt that it would cost to set that up, which equates to about 400 memberships at $40 a piece.

400 x 40 = $16,000/month x12 = $192,000/year

And then, if I wanted to hit the income goal I calculated would fund my “worry free” adventure living, ($15,000 a month, basically low 6 figures year after taxes) …

I’d have to sign up another 375 monthly subscriptions, add in a lump sum more to hire someone to run the whole fitness empire for me…

[Probably giving them an equity stake, as insurance, so they were less likely to crash my business while I am repelling down waterfalls in Hawaii.]

Let’s review = $225k to get started and 775 subscriptions to maintain lifestyle bliss + entrust business operations to someone else.

If you’re like me, that is a big hole to dig and a lot of work to do.

The MATH didn’t add up for me.

Too much risk for a maybe. (If you watched Shark Tank, Billion Dollar Buyer, The Profit etc – one little “oopsy” surprise can crash everything!)

This is when I started to realize I needed to have a WHOLE new game plan.

I went back to Tim one last time… and then it CLICKED for me after taking a deeper look at chapter 15…

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