Physicians are Entrepreneurs, too
Joseph Pompliano writes about how Tom Brady and Alex Geurrero have been running a sports performance and nutrition company, TB12, since 2013
(You can read more of Joseph’s post here.)
Alex Geurrero is an “alternative medicine” practitioner and alkaline diet advocate. Cue eye roll. But when Tom Brady says that meeting him in 2006 is part of the reason he just won his 7th Super Bowl at 43 years old and 21 NFL seasons, people start to notice.
Joseph goes on to highlight how successful their partnership in TB12 has become:
Here are the details (Source):
Went from 20 employees to 60
Opened a new facility in Tampa, Florida
E-commerce sales up 200% year-over-year
Opening future retail locations in California, Texas, and New York
Exploring overseas opportunities in the United Kingdom, Middle East, and Asia, which “have driven a surprising amount of TB12 e-commerce revenue”
Here’s what TB12 CEO Ken Burns said regarding their plan for global expansion:
“We’ve had a handful of inbound conversations that have led us to recognize there’s potentially a bigger opportunity long-term globally. We wanted to get the ball rolling so we have the opportunity to really grow and expand globally.”
Furthermore, the company has started to expand into licensing.
With the Super Bowl last night, this is a great excuse to highlight that out of the 42 physician households that we work with, 40% of them are also business owners. This can come in the form of some obvious and not so obvious business:
Telemedicine
Partnering with spas
Inventing a medical product
Owning part of their medical practice
Diversifying your income streams:
Just like we talk to clients about having a diversity of investments, we also believe that for the right physician, diversifying their income streams can be a key to unlocking even more earnings potential.
This certainly is not mandatory in trying to build wealth but for almost half the docs we work with, they need something besides a prescription to help scratch their entrepreneurial itch.
What’s on your mind?
We’ll be sharing tidbits of wisdom like this with any subscriber every two weeks, along with deeper dives for our clients every month or so.
What questions do you have that we can answer in future posts? Reply directly to this email and let me know.
Talk soon,
Chris
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Fortress Physicians by the Numbers
🏡 42 Physician Households as Clients
💰 $680,000 Avg Household Income
👩 Average Age 44
💸 $3.25 Million Net Worth
📈 29% Average Savings Rate
Securities and Investment Advisory Services offered through Fortress Private Ledger, LLC. Member FINRA/SIPC