Published on September 06, 2023
Sarah Dusek and her husband started Under Canvass, which offered large-scale tent hotels (called "glamping") near U.S. national parks. The business got off to a good start, and within five years, Dusek had four sites that were making $3 million in EBITDA (earnings before interest, taxes, depreciation, and amortization). Dusek didn't want to just stay the same, so she chose to grow much bigger. She raised $16 million in equity and mezzanine debt at a rate of 13%, which she personally guaranteed.
The stress of having her entire net worth tied to her business caught up with Dusek, and she chose to sell a majority stake in her business to a private equity group (KSL Capital). Dusek gave away 25% of her stock and kept her job as CEO. When she gave up her position as boss, Under Canvass was worth more than $100 million. This show is full of useful tips, such as how to:
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