The $6 Million Disaster: Why Ben Leonard Regretted Selling Beast Gear
“Ben Leonard founded a business called Beast Gear in 2016 and eventually sold it in 2019 to a company called Thrasio. After the sale, the company ended up having issues both operationally and financially,” shares Sam Thompson a Minneapolis business broker and the president of M&A firm Transitions In Business. “In this episode Ben talks about protecting your brand after the sale, vetting an acquirer, and negotiating an earn out.”
When Ben Leonard sold Beast Gear—a strength and conditioning equipment brand he built from his spare room into a business generating $6 million in revenue—he thought he’d made the deal of a lifetime.
He received 80% of the proceeds upfront, agreed to a small earn-out, and became the face of Thrasio, the acquirer.
Then things started to go sideways.
In this episode of Built to Sell Radio, Ben shares what happened after he sold, how his brand unraveled under new ownership, and what he learned when he tried to buy it back.
You discover how to:
- Avoid the most common mistake sellers make when negotiating an earn-out
- Protect your brand’s reputation after the sale
- Decide when to walk away from a buyer—and when to lean in
- Use emotion to your advantage in a negotiation
- Vet an acquirer (not just the deal)
- Know when it’s worth buying back your old business
Even if you’ve never sold a product online, Ben’s story offers critical lessons for anyone planning to sell a company.