We were lucky to catch up with Travis Postany recently and have shared our conversation below.

Hi Travis, thanks for joining us today. Parents play a huge role in our development as youngsters and sometimes that impact follows us into adulthood and into our lives and careers. Looking back, what’s something you think you parents did right?

One of the most important things my dad taught me was to be a problem solver. He owned a machine shop and I remember working there and he gave me a job to take something apart. I came to him 10 minutes later telling him I can’t do it. He said, “you have too.” I went back, tried again, and came back later to tell him I can’t do it. He then explained, they brought this to us because we are the only ones that can do this, there is nobody else, it has to be done. So I went back I didn’t leave until I figured out a way. After doing that for years you start to realize everything has a solution, the problem is most people aren’t put in HAVE TO situations so they give up before finding it. This taught me not only to be a problem solver but when you realize everything has a solution you no longer fear or worry about taking risk.

Travis, love having you share your insights with us. Before we ask you more questions, maybe you can take a moment to introduce yourself to our readers who might have missed our earlier conversations?

I got into the wedding industry by taking a leap of faith. I was a professional BMX rider for 12 years and had to retired in 2012 to take over my dads machine shop when he passed away from Lymphoma cancer. I hated it, and eventually sold it in 2014 to open up an extreme sports camp, Rebel Run Sports Camp. After a successful 2 years we were starting to out grow our current facility, so we found and bought a perfect piece of property to move to and expand. During the new build I started researching wedding venues because of one I recently saw, It seemed like a really good idea and business. I met with one of my friends, Carl McKenzie, who was looking to build some baseball fields on the property and I asked him if he wanted to build a wedding venue instead. He said yes, and we dove in head first learning everything there is to know about weddings and the industry. We built what is now “The Luminaire.” We’ve been open almost two years and do about 150 events each year. It has been a huge success. So much so that my wife, Leslie Postany, and I just purchased a second venue. An existing historical place that we have started renovating to bring back to life. Being able to take a vision and bring it to life is so rewarding, and to be able to share that with people on their wedding day and have a small part in their story is something we truly enjoy.

Can you talk to us about your experience with selling businesses?

I took over my dads company in 2012 when he passed away from Lymphoma Cancer. It was an Industrial Balancing shop. I ran it for two years and hated it. I use to work with him in the summers so I knew I would hate but it was a good living and really all I had after BMX.

In 2014 when I decided to sell, I knew it would be a challenge because we didn’t actually own anything. Our building and all the machines and equipment we used were leased. But we had a reputation and we had customers and I knew that was worth something. The first questions I needed answered were. What is it worth and who is my buyer? I knew right away my buyer had to be a competitor, someone who didn’t want my business open and someone who already had the machines and the means to take care of my customers. After a lot of foot work and multiple meetings I had someone interested. While we primarily provided one service (industrial balancing) this company provided many services related to that industry, all of which my customers could benefit from. So now the question became, how do I benefit from that as well? If I was to sell for one Lump some I would take X amount and be done and could wipe my hands clean from that industry for good. However they would get all the benefit from my customers now using their other services. So Instead I worked a deal where the sell would take place over the next 5 years. I would receive 50% the first year and 30% the next four years of any business my customers brought in. With the added services they could offer my customers, after 5 years I ended up selling the business for 4 times what it was worth.

There’s always another way and there’s always a problem that can be solved. But you have to commit to solving it without knowing how long it will take. Most will take the easy route, quit early, take the money and run, without ever knowing what could have been.

Can you share one of your favorite marketing or sales stories?

When we first started building The Luminaire one of the big questions was, when do we start trying to book events? Do we wait until it’s finished? Do we start once we have the shell of a building up? We all had different opinions. Mine was, let’s start now! At this time all we had was a dirt pad where the building will be. But I had a vision and felt like I could sell that vision, so we started. I set up our very first tour and had it all planned out. I got all our info organized and branded to look good and on the day of I was going to put up our architectural renderings all around the property to try and really communicate what everything was going to look like. When they day came it was pouring rain and the entire property was one big mud pit. Had to go to plan B, which I didn’t have at the time. I called my tour and asked them to meet me at the Starbucks down the road. We went over all our info, contracts, and renderings and then had them hop in my 4 wheel drive truck and took them out to the mud pit. We didn’t even get out of the truck. The whole time I was thinking how horrible this was and how I should have waited. When we got back to Starbucks while fully expecting to drop them off, say our good byes and never hear from them again, they asked for the contract and said “we’re ready to sign.”

That day I realized we aren’t selling a venue, we didn’t even have one yet, we are selling ourselves. They spent thousands of dollars based on what a complete stranger told them. Three traits that are lost in todays world are, honesty, integrity, and character. If people can see those in you it doesn’t matter what the product is.

Contact Info:

• Website: Theluminairevenue.com
• Instagram: @Theluminairevenue
• Facebook: Facebook.com/Theluminairevenue