Why Ben Leonard Regretted Selling Beast Gear. The $6 Million Disaster

Kyle Winder
Jun 30
2 min read

Ben Leonard sold Beast Gear for millions—then watched it unravel. Here’s what he learned when he tried to buy it back.

About This Episode

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. 

About Our Guest

Ben Leonard

Best known as the founder of Beast Gear, Ben Leonard is the classic millennial entrepreneur. He built a business on a laptop, in a cupboard, in his spare time. The difference? Ben grew an international 7-figure business and successfully exited after 3 years; the business holy grail.

Now Ben is doing it all over again and helping others to do the same with his e-commerce consultancy and e-commerce brokerage.

Definitions

Due-Diligence: This is a comprehensive appraisal of a business or investment undertaken before a merger, acquisition, or investment. It seeks to validate the information provided and uncover any potential risks or liabilities.

Earn-out: This is a financing arrangement for the purchase of a business, where the seller must meet certain performance goals before receiving the full purchase price. It reduces the buyer’s risk and aligns the interests of both parties post-acquisition.