0002 - Franchise Advice You Can’t Afford To Miss

In this episode, Tim interviews Jimmy Feeman, the entrepreneur who launched No Baked Cookie Dough at the age of 23 and turned it into a successful franchise. Jimmy shares his story of how he and his wife, Megan, started their business, navigated the challenges of franchising, and made key decisions that helped their brand grow. They dive deep into what it takes to franchise your own business and what you need to know before buying a franchise.

 

Tim is an entrepreneur who believes everyone should explore the opportunities that business and real estate can provide on the path to financial freedom. He owns and operates a wine & liquor store, a software startup, a consulting company, and a growing portfolio of commercial and residential real estate.

 

Tim’s passion for independent business has led him to support dozens of other business owners. For over a decade, he has worked with businesses on strategy, processes, finances, and marketing. These experiences, along with analyzing dozens of other businesses for potential acquisition, have provided Tim with an immense knowledge base to pull from. 

 

Tim has appeared on multiple top-tier podcasts in the financial space, such as Bigger Pockets Money and The Freedom Chasers Podcast.

 

[00:01 - 11:41] The Origins of No Baked Cookie Dough

Jimmy and Megan quit their jobs after 3 months to go full-time into the business.

Megan handled marketing while Jimmy focused on operations and product development.

They both sought freedom from the 9-to-5 grind, which drove them toward entrepreneurship.

Cash flow was key: They knew they could sustain their basic bills before fully jumping in.

Side hustles like Uber and DoorDash helped cover gaps while the business grew.

 

[11:42 - 21:56] Pivoting to E-Commerce and CPG

Early success led to multiple store openings, but some struggled..

The pandemic pushed them to shift to e-commerce and packaged goods..

CPG came with low margins, high competition, and complex distribution..

Managing relationships with distributors and retailers is crucial..

Selling CPG requires reaching millions, unlike higher-ticket products..

 

[21:57 - 33:05] Franchising: The Benefits and Challenges

Franchising seemed like the easy choice but brought unexpected challenges.

Selling to the wrong franchisees can hurt the brand.

Success in franchising requires strong systems and training, which take years to build.

Franchisees should get a good deal, with operationalized systems and support in place.

Systematizing processes helps scale a business, even without franchising..

 

[33:06 - 40:09] Choosing Between Buying a Franchise or a Mom-and-Pop Business

The decision depends on how much work you’re willing to put in.

Franchises provide systems and support, but with less flexibility.

Mom-and-pop businesses offer more creative control but require more personal effort.

Know yourself: Are you an “instruction manual” person or a system builder?

Owning a business is about balancing risk, freedom, and structure.

 

[40:10 - 56:43] Closing Segment

Aging owners create opportunities to buy businesses with growth potential.

Buying to franchise requires solid systems and support.

Build a strong foundation with sales data and training before franchising.

The real work