Learning Annex CEO Puts Business ‘On Steroids’

As long as there are people who want to get rich, Bill Zanker should get rich, too.That idea is central to the Learning Annex, Mr. Zanker’s company, which in recent months has taken its show on the road and put it on steroids.Just a week ago, the Learning Annex held its sixth Real Estate Wealth Expo in San Francisco’s Moscone Center. More than 61,000 attended, according to a company spokeswoman, paying anywhere from $179 to $499 (not counting discounts) to hear the likes of Scott Scheel, Robert Kiyosaki, and, naturally, Donald Trump advise them on getting rich.Based on the success of the real estate expos, Mr. Zanker says his company will gross $86 million this year, up from $14 million in 2004 and $36 million last year. Mr. Zanker won’t say how much of the money flows to him, but he does say the company he founded 25 years ago has been consistently profitable.For most of that time, the Learning Annex’s stock in trade was relatively small classes given in classrooms and some larger classes led by celebrities in auditoriums. But after Mr. Zanker bought the company back in 2002 – he sold it in 1991 – the Learning Annex has been riding the real estate mania to new heights. Even as the wave has died down, there is still enough force behind it to fuel growth for Mr. Zanker’s privately held firm.Last month, Mr. Zanker sold a “significant minority interest” in the firm to Apax Partners. Though they touted the deal in a press release, neither Mr. Zanker nor Apax would offer details, so the value of the Learning Annex remains a mystery.The value of the real estate expos to those who attend is a bit of a mystery as well. It’s been widely publicized that Mr. Trump has used the expos to get even richer; he is being paid $1.5 million to speak at each event, Mr. Zanker says. The speech he delivered in New York, at least, was largely pabulum pulled from his recent book, “Trump: How to Get Rich” and his various television appearances.Mr. Trump and other stars like Mr. Kiyosaki – author of “Rich Dad, Poor Dad” and its many sequels and offshoots – are the sharks who draw the pilot fish. Mr. Zanker fields an undercard that includes Mr. Scheel, a specialist in commercial properties; a hypnotist and “master of persuasion,” Marshall Sylver, and all manner of real estate experts.The experts cover diverse specialties, from buying real estate cheap at probate, to buying at real estate cheap at auctions, to buying real estate cheap and flipping it quick. Then there are generalists like Robert Shemin, whose seminar was simply entitled, “How to Be a Millionaire Real Estate Investor.”Speaking even more generally is legendary success coach Tony Robbins. What does Mr. Robbins have to do with real estate? Perhaps nothing, but it’s the “Real Estate Wealth Expo,” Mr. Zanker explains.While Mr. Zanker’s association with Mr. Trump is more recent, he, Mr. Robbins, and Mr. Kiyosaki go way back.At one expo, Mr. Zanker introduced Mr. Kiyosaki (who, in turn introduced Mr. Trump) and described how he flew to Arizona for the day years ago to plead with the wealth guru to come to New York for the Learning Annex. As for Mr. Robbins, he did his first fire walk for the Learning Annex way back in 1982.Their fortunes have all grown with the self-help industry, which, Mr. Zanker says, has sales of $9 billion annually. The industry employs hundreds of authors, speakers, coaches, and motivators. Mr. Zanker says his goal is to be “the biggest brand in the industry.” The expos continue his company’s traditional business plan, “putting it on steroids,” he says.The real estate expos put many gurus under one roof at one time. While would-be millionaires pay hundreds to get in, when they arrive, the selling has just begun. The experts start with speeches that may last an hour or two, and some roads to riches are mapped out. But most spend the bulk of their time selling additional courses where the real money-making secrets will be unveiled.These courses can be “worth” more than $10,000 each, but the gurus are generally willing to sell them at a deep discount to those who sign up on the spot. Others, like Mr. Kiyosaki, also sell books, board games, DVDs, and other merchandise. Mr. Trump is alone in that he sells only his know-how.Mr. Zanker allows that his company gets a percentage of the sales of later courses and merchandise. He also sells booths to exhibitors who use them to sell condos in places like Florida and Las Vegas, mortgages, and financial services.It has all gone so well that Mr. Zanker is already planning expos in other areas, like wellness and entrepreneurship. He figures he can triple sales annually. His students should do so well.

Learning Annex CEO Puts Business ‘On Steroids’

Learning Annex CEO Puts Business ‘On Steroids’

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