223. Behind the Counter: Buying an Existing Business with Shop Owners Dan and Robin Haynes
With host retail coach Wendy Batten
https://wendybatten.com/podcast-intro/
In This Episode:
So much gold here.
Are you considering buying an existing business in a field that’s outside of your wheelhouse? Already a business owner but interested in a great conversation between a husband/wife entrepreneurial team and hearing some great advice for your store? This episode of the Creative Shop Talk Podcast is for you!
Robin and Dan Haynes purchased an existing equestrian retail shop called The Golden Horseshoe in Eureka, MO in 2023. As entrepreneurs in real estate, they are always looking for an opportunity and couldn’t pass this one up! Robin knew a bit about the equestrian industry and found out the shop was for sale after their daughter started working at Golden Horseshoe. They each have their own roles in the business and are active members of the Retailer’s Inner Circle. Dan is always sharing incredible marketing ideas, biz book recommendations, and inspiration for the whole group.
Throughout this duel interview episode, Robin and Dan chat about their experience purchasing a business that had been operating for over 40 years. Here’s what you can expect to hear us chat about:
- How they refreshed and elevated a tired brand
- How they leveled up their marketing and customer experience
- Some tips to navigating social media successfully without having to buy ads
- How they handled staff resistance and turnover
- How they are building a business they can turn into passive income
- What they are doing to keep staff communications consistent
- The pros of building a business with your spouse (you all know I could probably do a whole episode on this one!)
- What they would have done differently if they bought the business today
- Why you need to keep your books clean! (so so important!)
- Dan’s favorite masterclasses in the Inner Circle and what he’s excited for in the group
This episode has so many golden nuggets of wisdom - even if you aren’t interested in purchasing an existing business but simply looking for ways to make yours run more smoothly. Let’s dive in!
“Most people overestimate what they can do in one year and underestimate what they can do in 10 years.” -Bill Gates
About The Golden Horseshoe
In April of 2023, new owners took the reins of Golden Horseshoe. The Haynes and Robinson Families set out to build from the strong foundation of Golden Horseshoe in order to create something special for the next 40 years and beyond.
The vision of the partnership was to bring the operations, outreach and education into the tech age while remaining true to the roots of the store. This new vision quickly became evident with a complete restart of the business to include branding, store layout, product lines, customer service and online service.
Ready to Level Up? Join The Retailer’s Inner Circle.
Here’s everything you need to know about the Retailer’s Inner Circle. You’ll have access to countless Masterclasses including Foot Traffic Made Simple, Shop Standards, Money Matters, and so many others. Plus, you’ll have access to a private Facebook group where members can ask questions or share advice and their experiences of running a retail shop. And Q4 is coming! We’ve got your back. You don’t have to do retail alone!
Related podcasts we think you’ll like:
Episode 159: Best of Series: Prepare to Sell, Franchise, or Expand: Four Areas That Need to be Under Control
Episode 183: Fine Tuning Your Business Operations with Guest Expert Gwen Bortner
Episode 202: Why Every Retail Store Should Consider Selling Souvenirs
About your host, Wendy Batten
In case we haven’t met yet, I’m Wendy, a small business coach and founder of the Retailer’s Inner Circle, where I help other independent shop owners learn how to gain the right business skillsets to see more profits, paychecks, and joy as they navigate running their retail business.
Through online classes, business coaching programs, speaking, and a top-ranked podcast, I’ve helped hundreds of retailers around the globe reclaim their dreams and see the success they want from their beautiful shops. My signature private coaching community, The Retailer’s Inner Circle, has helped retailers around the world build their retail business skill sets and confidence.
I am proud to have been featured in several major publications, including my own business column in What Women Create magazine. I have been privileged to be a guest on top-ranked podcasts and sought-after as a guest speaker and teacher for several brands, associations, and communities that are passionate about the success of independent retailers.
When I’m not coaching, you will find me either DIYing and renovating my very imperfect old crooked cottage by the sea in the UNESCO World Heritage town of Lunenburg, NS, or blogging about our travel and RVing adventures and the weird fun things we get up to in our coastal village. I’d love to invite you to check out one of my free resources for real retailers at https://wendybatten.com/free-resources/
For more support from Wendy
Retailer’s Inner Circle - Join Wendy inside the best retailer’s community
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All of Wendy’s programs and services for shop owners can be found HERE.
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