Transitioning from Real Estate Brokerage to Building a National Wellness Brand | Travis Talmadge

Sam Schneider and Travis Talmadge sit down on Inside Deal to trace Travis's path from college intern to co-founder of Bathhouse, a rapidly expanding wellness brand redefining sauna culture in America. Travis shares how he entered real estate brokerage during the 2008 financial crisis, built momentum through relentless hustle and relationship management, and eventually left a thriving career to launch something entirely new. The conversation moves from early deal-making lessons to the pivot that led Travis and his business partner to open their first Bathhouse location in Williamsburg in 2019—just months before the pandemic hit. They discuss: \- Why working hard and making yourself valuable matters more than subject matter expertise early in a career \- How Travis structured landlord-financed build-to-suits to scale Bathhouse without raising excessive capital \- What it took to survive COVID as a high-volume social business and emerge stronger \- How information arbitrage shaped Travis's early success in off-market real estate transactions \- Why Bathhouse designs every location uniquely and focuses on premium locations over cookie-cutter expansion This episode offers a blueprint for anyone navigating career pivots, building operating businesses, or learning how to turn curiosity and grit into long-term success. (00:00:00) - Intro (00:02:43) - Growing up in Bedford and early work ethic (00:04:23) - Landing the Eastern Consolidated internship (00:08:23) - The 2008 financial crisis and starting out in brokerage (00:10:00) - Early career lessons on hard work and discipline (00:12:53) - Buyer-focused brokerage strategy (00:14:53) - Joining Imperium Capital as first employee (00:18:03) - Early Imperium deals and market strategy (00:19:43) - The Soho Square deal and following up (00:22:33) - Information arbitrage in real estate (00:27:24) - Starting Triplet Acquisitions (00:30:35) - The Bathhouse origin story (00:33:03) - Finding the first Williamsburg location (00:34:35) - Building out a bathhouse in New York City (00:37:38) - Opening day and early traction (00:41:43) - COVID shutdown and survival strategy (00:46:43) - Expanding to Manhattan Flatiron (00:49:58) - Operating at scale across two locations (00:51:55) - National expansion and build-to-suit deals (00:55:01) - Real estate strategy for Bathhouse locations (01:00:36) - Product evolution and the Aufguss program (01:02:45) - Advice for young professionals Sam Schneider LinkedIn — https://www.linkedin.com/in/sam-schneider-11234826/ Companies: Imperium Capital — https://www.imperiumcap.com Bathhouse - https://www.abathhouse.com/