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Should you start a business with a close friend?
This episode, we talk to the founders of The Black Hole Group; a collective of lifestyle and F&B concepts.
They started out in 2012 with a backpacker's hostel, and now they own about 13 F&B and lifestyle concepts and are still going strong.
More importantly, they are friends who started a business together, and we are super excited to talk to them because The Woke Salaryman was also started by two friends who met in school. They met in JC; while we met in Poly, so we have so many things to ask.
We will ask them about what it's like starting a business with a close friend, how to maintain or balance being friends and business partners, and their journey from plucky 26-year-olds running around putting our fires in a backpackers hostel to essentially, F & B moguls.
0:00 Intro
1:16 Why are they called The Black Hole Group
10:05 Starting a hostel in their 20s
15:17 The margins of running a hostel
21:08 Scaling the business
24:02 Do you hang out as friends now?
28:58 Working together as friends/cofounders
37:15 Growing a business = compounding learning
41:00 COVID as a wake-up call
48:20 Co-founders with different lifestyles
54:21 Would you recommend starting a business with a close friend
View all episodes
By The Woke Salaryman
5
11 ratings
This episode, we talk to the founders of The Black Hole Group; a collective of lifestyle and F&B concepts.
They started out in 2012 with a backpacker's hostel, and now they own about 13 F&B and lifestyle concepts and are still going strong.
More importantly, they are friends who started a business together, and we are super excited to talk to them because The Woke Salaryman was also started by two friends who met in school. They met in JC; while we met in Poly, so we have so many things to ask.
We will ask them about what it's like starting a business with a close friend, how to maintain or balance being friends and business partners, and their journey from plucky 26-year-olds running around putting our fires in a backpackers hostel to essentially, F & B moguls.
0:00 Intro
1:16 Why are they called The Black Hole Group
10:05 Starting a hostel in their 20s
15:17 The margins of running a hostel
21:08 Scaling the business
24:02 Do you hang out as friends now?
28:58 Working together as friends/cofounders
37:15 Growing a business = compounding learning
41:00 COVID as a wake-up call
48:20 Co-founders with different lifestyles
54:21 Would you recommend starting a business with a close friend
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