About Crystal

  • Executive Assistant to the CEO and Manager of Administrative staff
  • In 2004 Crystal flipped her first free standing multi-family home
  • Flipping at least one property a year, generate a profit between $80-$100K for each property
  • In 2014, opened FitChoice24 fitness facility
  • Using profits to open a second FitChoice24 location

Background

A graduate of Northeastern University with a B.S. in Communications, Crystal Boniello began her professional career as a Marketing Representative at Apcoa/Standard Parking.  She realized that changing the perception of the garage would increase the demand, allowing the company to increase their daily rates.  In 2006, following positions at Fidelity Investments and William Gallager Associates, she took a position at Imagitas as the Executive Assistant to the CEO and Manager of the Administration Staff.

Her mother had always told her that she needed to have at least 4 different hustles going on so in case something falls apart, you will always have another income stream coming in.  For nearly 10 years Crystal continued to work full-time as she began flipping houses and working on other ventures.

At the age of 16, Crystal Boniello had the responsibility of managing her family’s real estate business placed upon her due to her father’s declining health.  Her parents owned several multi-family real estate properties.  In 2004 she flipped her first free standing multi-family home in Roxbury, Massachusetts.  She flipped at least one property a year from 2004 and 2011.  Often accepting offers during the first open house, these properties would generate a profit from $80-$100K.

Having always been interested in health and fitness, Crystal and her former husband decided to open a gym.  In 2008 they opened Option 1 Fitness, followed by a second location in 2010.  After their divorce, she partnered with co-worker Nina Pralour and together they opened FitChoice24, the first 24hr fitness facility in Boston.

Show Notes

  • Multitasking and other skills helpful for starting a business [1:45]
  • The conversation that lead her to find a business partner [5:18]
  • Finding the time to work on your business when you work a full-time job [6:35]
  • First steps to starting your own business [7:50]
  • How they found a location to open their first gym [9:45]
  • Why flipping houses was the first business venture she choose [12:12]
  • Outsource the bigger things and finding contractors you can trust [14:40]
  • What to look for when searching for a property to flip [18:40]
  • Placing a bid on a house [23:00]
  • Pay attention to the market, timing is the key [25:50]
  • How she overcame a downturn in the market [29:00]
  • Tips for managing a rental property [29:35]
  • Entering the fitness industry and opening a gym [35:00]
  • Why you shouldn’t wait until the doors open to start signing clients [39:50]
  • Devoting yourself to an idea and avoiding negativity [41:50]
  • The cost and profits in a gym business [47:10]
  • Plans to franchise her gym business [50:15]

Tips

  • A woman makes a decision about a house within the first 15 seconds [3:00]
  • Align yourself with someone who has the same motivation as you [6:25]
  • Craigslist, Angie’s List, and Facebook are useful tools to find contractors [11:40]
  • Be willing to jump in and do some of the work – develop a skill set [17:20]
  • Don’t do trendy updates, stay with a classic look [22:25]
  • September – October is the best time to look for foreclosures [27:40]
  • If you’re serious about a product, people will take you and your business seriously [41:00]
  • Secure the place – don’t be afraid to commit and just do it [55:20]

Contacts and Links

crystal AT crystalboniello.com

www.fitchoice247.com

Listen to the Show

The Side Business Show

ike AT TheSideBusiness.show