August 18, 2025 • 44 mins
Ep 192: From Vision to Value: The Intersection of Money and Life Goals
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Transcript
Episode Transcript
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Speaker 1 (00:00):
If you think about if you think about like Elon Musk,
it's like, okay, people say, I want to be an entrepreneur. Okay,
what's an entrepreneur right, Everyone's like it's a business owner.
To me, a true entrepreneur is someone that's a disruptor.
They created something, They built a business like, they created
a category, you know, like an Elon or a Sam Walton,
(00:20):
all these different types of people that created you know,
Bill Gates and Steve Jobs. They're category creators. They're entrepreneurial,
they're visionaries. They see what's going to happen in society. Franchising,
you don't have to be that. You don't have to
be like one to three percent of the global population,
you know, to be successful.
Speaker 2 (00:45):
Hey there, and welcome to Money and You. I'm Michelle Perkins,
your host. My search for more fulfilling work led me
to career in business coaching, where I stumbled upon a
game changing discovery. Money issues often start with our mindset
and habits. Yes, you see, our relationship with money is
the key to overcoming those frustrating financial obstacles. As an entrepreneur, coach,
(01:07):
and problem solver, I'm passionate about helping you create a
great relationship with money, because turns out that's the foundation
for a limit free life. Each week on Money in You,
I speak with amazing guests about all things money, mindset,
practical tips, and everything in between. We're here to give
you new insights, education and empowerment, so money can be
(01:29):
one of your favorite relationships. So join us for some
lively conversations and let's transform your financial life together. Hello, Hello,
and welcome to the Money and You Show. I'm Michelle Perkins,
your host, and super excited to have another great guest
on today. On today's show, we are going to talk
about something new and different. We haven't talked about this
(01:51):
much on the show, and it is a great opportunity
for people listening to learn about franchising and other related
bususiness opportunities. So, without further ado, I'm going to introduce
a very remarkable guest that we have today. His name
is Cliff not A Mocker and he began his career
(02:13):
as an investment banker at Morgan Stanley. After leaving his
Wall Street career in two thousand and three, he acquired
a master franchise for New York and Connecticut, diving headfirst
into the franchising industry. Since then, Cliff has owned and
operated various franchise businesses, including Cartridge World, Personal Training Institute,
(02:33):
Pure Clean, and Made Right, as well as non franchise companies.
He's also developed well known domestic and international brands like
Four Season Sun Rooms, Contour's Express Island, Thin Pokey, and
Crack Boba. With over twenty five years of experience in franchising, finance,
and business, Cliff has been involved in every aspect of
(02:53):
the franchise or franchisee relationship. Cliff now uses his extensive
knowledge to assist corporate executive in building generational wealth, diversifying
their investment portfolios, and navigating career transitions through franchise ownership.
Speaker 3 (03:08):
Cliff welcome, well, thank you so much, Michelle. I'm happy
to be here.
Speaker 2 (03:12):
I'm so glad you're here. We had a really great
conversation before we started this today, and I was really
I loved your passion for what you do, and I'm
really interested in the franchise model. I think having been
in the corporate world and then also been an entrepreneur,
you know, with the business that I started myself, there's
(03:36):
something really unique and special about franchising. If you're a
business owner who can create a business that can be franchised.
That's one aspect of it that's great, But also for
people who want their own business but don't really want
to go through all that startup you know craziness, which
(03:56):
it kind of is. You know, I think this is
great option, and yeah, I want you to give us
a little more insight into how you got into it,
and then I'll come back with I have a million questions.
Speaker 1 (04:09):
So yeah, no, I appreciate it. Yeah, So I'm a
serial entrepreneur. I have been self employed my pretty much
my whole life. Even as an investment banker, you're not
really getting paid, right, you have to go out there
and dial and gather assets and make a living and
allocate those assets. Right, So I pretty much feel like
I've been self employed most of my life. I started
very young, like eight, breaking golf balls out of ponds
(04:32):
at country clubs, cleaning the balls and selling them and
doing everything you could do as a young entrepreneur, raking leaves,
shoveling snow and just selling things, right, doing things and reselling.
Speaker 2 (04:44):
Nice there for one second, because so much of the show,
I love to talk about people's relationship with money in
their mindset around money. So what was going on that
at ate you decided to You could have just been
doing anything. At eight we happened.
Speaker 3 (04:59):
We wrote a book and it's called Beyond the Brand.
Speaker 1 (05:01):
It's over my Shoulder, and that's actually the opening paragraph
is most kids are playing at the time. I grew
up in the eighties, and most people were playing, and
I was always thinking about how could I make money.
I don't know, it was just it was just a
prevailing thought for me, and I think it really did.
My mom ingrained in us and my father, you know, hustle, hustle, hustle,
(05:23):
provide you have to work. So a lot of it came,
I think just through upbringing. My dad was very entrepreneurial,
always trying to do something, even though he was a
detective in New York. He was always trying to do
something on the side, something entrepreneurial. My dad actually had
I've actually never said this on a podcast before. My
(05:44):
dad had a billion with a bead dollar idea in
our garage in New York in the nineteen eighties. My
father was an auto theft detective and he was messing
around with little numbers and letters with a sand blasting
and I'm like, what are those? And he goes, I'm
going to sand blast the then numbers on the parts
(06:05):
of the car so that people won't want to steal
it because now it has a serial number in there.
I don't think I need to tell the audience how that,
how that aged well for someone, not us.
Speaker 3 (06:16):
But that was the kind of guy he was. He
was always.
Speaker 1 (06:19):
Thinking, always tinkering, always wanted it more, always wanted to
provide more for his family. Phenomenal dad. I have had
great parents. I grew up in and I would we
were not affluent. I grew up in an affluent neighborhood.
We were middle class people that grew up in a
very nice neighborhood. I walked to the country club. That's
where I raked the golf ball. So my relationship with money,
(06:40):
I had a very risk taking dad and I had
an ultra conservative mom who very conservative, like you never
like you never compromise the house, right, you never like
leverage too much. You know, you pay cash, you don't
borrow like that type of So my relationship of money was,
you know, very different. At a young age and listen
to anyone anyway, I did my own thing.
Speaker 3 (07:02):
So to me, wealth was freedom. Wealth was independence.
Speaker 1 (07:06):
Money provided a lot of solutions to a lot of problems,
and I wanted.
Speaker 3 (07:11):
It, and I wanted it at a very young age.
Speaker 1 (07:13):
And fast forward, I'm fifty three now you know I've
done well for myself in terms of my goals. But yeah,
I agree with everything you said at your opening statement.
And I always see people that make fun of let's say,
wealthy people, or they'll insult the rich, and I'll be like,
you do realize, like just saying that and putting that
out in the universe, you will never be wealthy. Like
(07:35):
you cannot speak negatively about wealth, wealthy people, wealthy things.
Speaker 3 (07:41):
You can't do that.
Speaker 1 (07:42):
It's the law of attraction, right, It's a universal law,
Like you have to embrace the if you want to
create wealth, you have to embrace things that are wealthy.
Speaker 3 (07:51):
Yeah, it's crazy and yeah, and.
Speaker 2 (07:55):
So thrilled that you said that. And you know it's
not like if you because we all have a tendancy
once in a while to do that, you know. And
it's so interesting to me because you put it so well,
and people at the same time that they're talking about,
how you know, horrible people with money are are out
there trying their hardest to make their own money and
(08:17):
build their own wealth. And so there's this complete disconnect
really because you know, I mean, it's never the money,
it's the person with the money. So there are in
fact bad people with money who do bad things, and
there are also good people with money who do good things.
And it's not about the money, it's about who you are.
And yeah, I really do love that you said that, though,
(08:39):
because it's almost like a repellent. It's almost like, as
you're saying these things, you might as well just be
like spraying money repellent.
Speaker 3 (08:46):
Yeah, that's exactly.
Speaker 1 (08:47):
It's what you think about you bring about and that's
that mindset. If you're going to think about negativity and
you're gonna think about money, it's nothing but trouble. You know,
it causes problems in the family. You know that blah
blah blah doesn't shane in ju life.
Speaker 3 (09:00):
You don't need it.
Speaker 1 (09:01):
I want to be you know this, or I want to
be that. And if you just keep saying that about money,
like you're never going to have it right. He needs
to be in proa like I don't walk over pennies.
I have a relationship with money. And my son who's seventeen,
almost seventeen, he's always laughing at me.
Speaker 3 (09:17):
I pick up pennies, I pick up loose change.
Speaker 1 (09:19):
My relationship with it is I respect it, like I'm
not obsessed with it. I respect it. I would never
walk over it. Nothing is too good for me. A
penny on the street, I pick it up. I do
my mantra, right, I do my normal stick when I
pick it up and put it in my pocket and
(09:39):
off I go.
Speaker 3 (09:40):
So that's kind of my relationship with it.
Speaker 1 (09:42):
So if you like the theme of the show, yeah, yeah,
I love it.
Speaker 2 (09:47):
I really am. I mean, we're going to move on
from this and talk about franchising, but since we're here,
this is my favorite topic. And it's so individual, Like
I really love that you embrace your little ritual, you know,
I mean, and that's all you need to do. And
whatever it is for you, it doesn't you know, it
can be pennies, it can you know. I know people
who like clean out their wallet because it's you know,
(10:09):
it's open to receding instead of stuffed with old receipts
or whatever. And all of this is it doesn't really
matter what the ritual is, or what the affirmation is.
If it's meaningful to you, it's reinforcing this idea of
you and money. I mean this relationship that's good. Yes, yeah,
(10:29):
And how did you kind of get some enlightenment around
this because obviously you've you've done your homeworks good.
Speaker 1 (10:36):
I'm a big uh. I mean it's a crazy story,
but a long story short.
Speaker 3 (10:41):
So I was in the Buffalo airport.
Speaker 1 (10:43):
This is pre housing crisis, and I just kept making
eye contact with this person in the terminal and she
ended up approaching me and handing me a video which
was the secret just saying like that this She just
said something about I can feel your energy and she
said this this can change.
Speaker 3 (11:02):
Your life in a crazy turn of events.
Speaker 1 (11:07):
I believe that this woman I met in the airport
is the The Good Nurse. If you ever watch the
Netflix series, I believe that was her wo and if
you and if you don't know what The Good Nurse is,
it was a movie about a nurse who was a
whistleblower on another nurse who is injecting let's say, poison
(11:30):
into IV bags and randomly killing people in hospitals. But
the genius behind the sinister act was this particular nurse.
What do you do when someone dies in the floor
who was working that day? He would randomly inject into
these IV bags, so that it was when he was
on shift, off shift. There was no there's no way
(11:53):
of saying, well, he was on shift every time this happened.
And she was the whistleblower. It was on Netflix, it
was called The Good Nurse. And I believe that the
woman I met in the airport was the whistleblow or
the good nurse, and I believe that that was the
woman that actually helped change my life.
Speaker 3 (12:08):
And of course she did it again by catching this character.
Crazy story.
Speaker 1 (12:13):
I've never shared it before, but that you asked me
and I answered.
Speaker 2 (12:16):
It a great story, thank you. Yeah, isn't it interesting
these little moments, And you know, we have to be
aware of the opportunities that come to us and the synchronicities.
And you know the fact that you even took the CD.
You know, it could have been like you know.
Speaker 1 (12:33):
Oh it was. It was a weird exchange. Yeah, yeah,
it was different for sure. It's not your normal exchange. No,
I took it very seriously. I don't think life is
so random. You know, I was adopted at a young age,
and I think that people have brought together for a reason.
So no, I don't think life is so random. I
believe in synchronization. I believe in thoughts become things. I
(12:53):
believe in the law of attraction. I believe in a
lot of a lot of things that have reinforced. You know,
I thinking my way of life, how I treat.
Speaker 3 (13:00):
People, how I'm treated by others. You know, I used
to have a boomerang. Here's an example.
Speaker 1 (13:04):
I used to have a boomerang in my office, like
in my credenza above my head, and people would always go,
what is that? And I would look back and I'd
be like, Oh, life is like a boomerang. What you
put out there comes back with lethal accuracy.
Speaker 3 (13:18):
So if you want to put hate out in there,
it's going to come back.
Speaker 1 (13:20):
You want to put pain, you want to poot good feelings,
good vibes, you want to help people become rich, It
becomes way easier to become wealthy yourself. I mean, it's
like rule number one. If you want to be wealthy,
you have to help others become wealthy.
Speaker 3 (13:33):
Too simple.
Speaker 2 (13:35):
Yeah, I love that it's simple, But in some ways
it goes against a lot of what people think and
what you see out there or hear out there. So
that's why most people are rich exactly, exactly exactly and.
Speaker 3 (13:47):
The catastrophic thinking.
Speaker 2 (13:49):
Yeah, and I don't know what's happening in the universe.
But the guests who are coming on the show more
often than not, I think most of the time have
this same kind of thought process, and they're doing very
very well and creating all kinds of success. So this
isn't like, you know, for yoga teachers and people. I
(14:11):
mean it is, but it's not like kind of ideas
that are separate from just the regular society and you know,
all kinds of people. So I think it's great. I
think it's great to get this message out there and
allow other people to tune in and think absolutely absolutely Okay.
(14:32):
So let's travel back to franchising and some of your
thoughts about that. So this obviously is also a love
of yours. So how and why.
Speaker 3 (14:45):
To me, franchising is one of the single greatest methodologies
ever created to create wealth without inventing anything. There is
no methodology more powerful than franchising.
Speaker 2 (15:00):
Tony there, Tony Cliff's frozen on my end?
Speaker 4 (15:02):
Is it me being frozen, it's you I'm here, I said,
I think it's yours.
Speaker 3 (15:13):
Are you on Wi Fi? Are you on?
Speaker 2 (15:15):
I am? And it's new like super Wi Fi. I'm
going to actually if it's okay, I'm gonna.
Speaker 3 (15:24):
Sure. Would you do change studios? Well?
Speaker 4 (15:31):
I had a studio in Burbank and then I moved.
Speaker 3 (15:35):
It's like, do you have a desire to be successful? Yes?
Can you follow a proven system? Yes? Can you can
you like lead people? Can can do people believe in you?
Speaker 1 (15:46):
Do you like do you have a vision for what
you want to do with your small little company on
main Street?
Speaker 3 (15:51):
Yes?
Speaker 1 (15:52):
It's like okay, people always ask me all the time.
It's like, what does it take to become a franchise e?
And I took this from Jack Welch. I go, I
call the four E one P principle.
Speaker 3 (16:02):
Do you have energy? Yes? Can you energize others? Yes? Right?
Can you execute the model? Yes? Right?
Speaker 1 (16:10):
It's like all these different things. Are you passionate? And
it's just are you edgy? Can you actually fire and hire?
Can you make There's very difficult decisions in business, and
a lot of people keep dead wood in their business,
So like franchising really is for everyone, especially if you
resemble the remarks I made about the four E one
P principle, which is what people want.
Speaker 3 (16:32):
People want to work for leaders. They want to work
for losers.
Speaker 1 (16:34):
They want to work for people that are going to
lead them and have energy and have a vision. And
you see an upside like I could get promoted, I
could grow, They're opening a third location, Like this person
is serious, they want to grow. I want to work
with them. So yeah, I love franchising. I got involved
in it. I was an investment banker and I was
managing a ton of money with at the time Smith Barney.
Speaker 3 (16:57):
And I ended up going to Barnes and Noble.
Speaker 1 (16:59):
I bought a franchise handbook and found a printer consumable
company in Australia that reverse engineered the inks and toners
and secret handshake chips, and I ended up buying the rights.
Speaker 3 (17:13):
Now I didn't buy the company.
Speaker 1 (17:14):
I bought the rights for the state of New York
and Connecticut, and I scaled thirty six locations and then
sold it.
Speaker 3 (17:21):
Moved to Florida, where I am.
Speaker 1 (17:22):
Now that was my introduction of franchising, and it was
called master franchising, which is one level beneath the franchise,
or it's where you buy a state or a massive
territory and I have the right to sell you a
franchise and collect fees from you and royalties and sell on.
(17:43):
So it's very different from being a franchise, and it's
called the masters.
Speaker 3 (17:47):
It's as there are levels to franchising.
Speaker 1 (17:49):
But that's actually how I entered and then from there
owned various franchises, and then worked for private equity firms
that bought franchises and then continued to scale brands.
Speaker 3 (18:01):
I've been doing this for the last twenty five years.
Speaker 2 (18:04):
Wow, that's very interesting. I've actually never heard that term
the master of franchise or.
Speaker 3 (18:10):
What was it again, yeah, master, master franchising.
Speaker 2 (18:13):
Okay, wow, very interesting. So there's a lot there are
a lot of opportunities people probably don't even know about
in franchising.
Speaker 3 (18:20):
I mean, I think we can definitely basic.
Speaker 5 (18:21):
I'll buy a McDonald's and if I do well, all
by you know, two and then three, and somehow there's
this magic number out there that if you have three franchises,
suddenly you turn the corner and become profitable.
Speaker 2 (18:33):
I mean, how what are the myths out there and
what are the truths.
Speaker 1 (18:37):
That's interesting you say that because a lot of times
I explained to people like everyone wanted to buy a subway,
and it's like, well you can't own one. They're like,
why not because it doesn't make any money? Right, And
people like, well, why would I want to buy more
of something that doesn't make any money. The folks who
were purchasing a subway love subway for various reasons, one
(18:58):
of them being they just have to owe when up
the door and people would walk in.
Speaker 3 (19:02):
Not a lot of people. The stores only do like
three point fifty four hundred grand a year, like this.
Speaker 1 (19:07):
Is nothing to get excited about subway. But people will
get excited about certain brands. And a lot of times
people get more excited about the product than they do
the operations of the business.
Speaker 3 (19:19):
And that's a huge mistake to me. I don't really
kee it right.
Speaker 1 (19:22):
I have to fall in love with the operations of
the business, the leadership team, right, you know where they're going,
product development, pricing, competitiveness in the market. People just fall
in love with the pizza and it's like I'm going
to own this, Or if people fall in love with
Chick fil A and they want to own it, and
then they figure out and that goes to show you
that there's no discipline in investing because half of America
(19:45):
and probably more than half of the people listening, don't.
Speaker 3 (19:48):
Even know that you can, can't, and will never own
a Chick fil A. You cannot own one. You're nothing
more than an overpaid employee.
Speaker 1 (19:56):
And that shows you that people really don't know investment
opportunities because everybody wants to buy a Chick fil A
until they're told all Chick fil As are owned by
Chick fil.
Speaker 3 (20:06):
A Corporate, all of them.
Speaker 1 (20:07):
So when you hear people say they're an owner, they
shouldn't even be using the word franchise e. They should
not be using the word owner. They're an employee. They're
an operator period Now while they making good money, yes,
but they're never going to participate on the exit of
that business. So we work with investors and say, okay,
(20:29):
like Cliff, who will you what do you do?
Speaker 3 (20:31):
How do you help my audience?
Speaker 1 (20:32):
Right? It's like we help them. It's like what one
of your listeners is like, I'm so sick of corporate America.
I got to get out great So they would call
me fifteen to twenty minute consult.
Speaker 3 (20:43):
What's going on? Right?
Speaker 1 (20:45):
Tell me what's happening in your life. I'm forty five
years old, you know, net worth of a half a million.
I have one hundred liquid I need to replace one
hundred and twenty thousand a year. You know, my spouse
is working two kids. I can't do this anymore. I
want to go out of my own.
Speaker 3 (21:00):
We will then work with them and formulate investment objectives.
We do this for free. By the way, we do
it for free.
Speaker 1 (21:06):
Yes, nobody believes it, so I do say it twice,
and I understand the word has been destroyed.
Speaker 3 (21:12):
It's been abused, right, it's been so abused. We work
for the buyer for free.
Speaker 1 (21:18):
We are paid like headhunters or realtors, which means we're
paid by the seller or paid by the other party.
All right, So we work for the buyer your listener,
for free and will work for them for the life
of the relationship.
Speaker 3 (21:31):
There's no scenario where they pay for us. Ever. Everything
we do is free. Again, we're paid by the seller.
Speaker 1 (21:37):
Yes, instead of showing them houses, we show them businesses.
Speaker 3 (21:41):
Same concept of.
Speaker 2 (21:42):
Yeah, and actually you're making me think I don't even
I guess I did say the name of your company
and the bio. Yeah, but do we have that under
your name?
Speaker 1 (21:52):
Yeah, I believe, I believe in Yes, he put Frenocity
turn Fernocity under my name.
Speaker 2 (21:58):
Okay.
Speaker 3 (21:58):
Yeah, the company's for aw cityfernocity dot com.
Speaker 2 (22:01):
Okay and yeah.
Speaker 1 (22:02):
People could schedule a consult and we could walk them
through their options, like what does it take?
Speaker 3 (22:07):
What do I need?
Speaker 1 (22:08):
Do I have to have background experience? I want to
own a roofing company. Do I need to be a roofer?
Speaker 2 (22:13):
No?
Speaker 1 (22:14):
You could own a roofing franchise and never step foot
on a roof Like a lot of people don't understand
that about franchise and they feel like they're buying a
job and they need direct industry experience. Absolutely not. I've
owned twelve brands. I knew nothing about any of them.
Speaker 2 (22:29):
Nothing that is really fascinating, you know, And there are
a lot of franchises. I get a newsletter from a
franchise broker who I met a long time ago, and
she the franchises out there will surprise you. You know.
We all think of Subway, and you know Chick fil
A or McDonald's. I didn't know that about Chick fil
(22:50):
A though, but there are many, many service oriented franchise
businesses and things like roofing, Like you just said, I
would never think of that. I think most people wouldn't,
and so it's a pretty vast array of opportunities for people.
I also loved what you said about liking the product,
because the one time I got serious looking at a franchise,
(23:13):
I had gone to a party and somebody had one
of those nothing bunt cakes, you know, and I just thought,
oh my gosh, this is the greatest idea. So I
kind of went down the road for a little while
looking at that, but the buy and fee was high,
and I just the more I looked at it, the more.
I mean, I agree with you, but it is interesting
because it isn't just it really is a business. So
(23:34):
it'd be nice. I mean, it is nice to like
what you're having interest, you know, feel the even with
something like roofing, if you're just a person who knows
that's valuable, and you feel like you're offering a service
that you believe is valuable, you know that in itself
is probably good enough, but you do have to have
some connection.
Speaker 3 (23:55):
I think agreed.
Speaker 1 (23:57):
I would say over all the years of doing this
I try and get a degree of capitalism from the client,
and over the years, what I've learned it is about
seventy thirty. It's seventy percent I need to make money
and only thirty percent I need.
Speaker 3 (24:12):
To love it. I need to love it.
Speaker 2 (24:14):
So it's like, Okay, is your ego in the way?
Speaker 3 (24:17):
Would you own a porta potty business?
Speaker 1 (24:19):
Some are like, absolutely not, I'm not going to a
cocktail party telling people that I'm in the porta potty business.
And then there's a whole other camp of capitalists that'll like,
if it makes money, and I'm laughing all the way
to the bank, i will own a porta potty business.
I have no ego. I'm here to make money. So
we determine ego. Ego plays a huge role in everything.
(24:42):
Probably one of the most misunderstood and underdiscussed topics, right
fear ego identification with the ego the reason why people
don't do things. So we want to understand the client's
position on that, and then the spouse. A lot of
times the client's like, I'll do it, and the spouse
are like, absolutely not.
Speaker 3 (24:58):
You will not be in the porta potty business. Do
something with more pen ash than that.
Speaker 1 (25:03):
So it just depends you don't need any direct industry experience,
which I think is interesting, Harriet. Yet the other thing
you have to understand, Michelle, that's happening, and like all
of our experiences you and I are to date are
obviously rear view, Mirra, what's happening now?
Speaker 3 (25:20):
No one is ready for AI? No one. What's it about
to happen to everyone?
Speaker 1 (25:27):
Okay, And I don't think people really understand the gravity
of what is about to happen, not just the United
States but to the globe. You're talking about three hundred
and fifty million jobs minimum that will probably be eviscerated
due to AI. I mean call centers dead, automated script dead,
cold calling dead, appointment setting dead, like all these things
(25:49):
that have routine repetition, they're just dead. It's all going
to be automated through technology. You could call major banks
right now you're talking to AI. I've had full blown
conversations with people where I had to ask.
Speaker 3 (26:02):
Them, are you AI or you a human being? Please
hold for a human being? Oh, I didn't know. I
didn't know. I had to ask and it was like,
do you prefer And I said, yeah, please put a
live agent on the line. Weird, but that's what's coming.
Speaker 1 (26:15):
So you want to distance yourself from the disruption of AI.
And it's coming, and it has its sites set for
the first time on white collar workers, not blue blue
was always getting kicked in the nuts, right going back
to the early eight you know, late eighteen hundreds, they're
always doing something to blue collar workers through automation. This
(26:37):
time it's going after CPA's, it's going after doctors.
Speaker 3 (26:41):
It's going after lawyers.
Speaker 1 (26:43):
I had aid give me a whole consult on a
pathology report.
Speaker 3 (26:47):
It's ridiculous.
Speaker 1 (26:48):
Yeah, there are doctors now on social media saying I've
got clients coming to me with questions that they've never
asked before, and the client is providing answers the patient
to me and alternative therapies that we're not even doing
in modern medicine exactly.
Speaker 3 (27:05):
Jig us up, Yeah, it's up.
Speaker 2 (27:08):
I couldn't agree more. It's it's I mean, you have
to choose a road, you know, you can go down
the fear mongering road, or you can go down you know,
the opposite. And I don't think we really have a
much choice. I mean, you know at this point, but
to try to see how we can you know, use
this for our own you know, help him anyways, But
(27:28):
a friend of mine recently went to the doctor had
a scan. They couldn't read well, and the doctor actually said,
you know, I'm gonna have AI take a look at this,
and which was, you know, just the weirdest sounding thing
to me.
Speaker 3 (27:40):
But it's the way we're going.
Speaker 2 (27:42):
So but to your point, I recently saw something I
was going to go there next. That was a franchise
opportunity and it was some kind of like an AI
operated convenience store in what looked like a vending machine. Maybe.
Speaker 1 (27:57):
Yeah, I don't know, crazy you're bringing that up. I
just viewed him on mypod like last week. Oh wow, crazier, Brent,
Where did you see that?
Speaker 2 (28:06):
I don't remember. I get all these you know, Morning
Brew and all of these little newsletters, and I'm thinking
it must have shown up somewhere in one of those.
But it caught my attention because it's very interesting.
Speaker 3 (28:19):
It's very interesting.
Speaker 1 (28:21):
So he he was healthy you vending, That's who they were,
this AI company, and then they changed the name because
he doesn't want to be viewed as vending anymore, because
that's not vending.
Speaker 3 (28:32):
Vending is glass wall.
Speaker 1 (28:35):
Put your money in, push a code, and a spiral
will split something.
Speaker 2 (28:39):
Out and hopefully won't just hang there.
Speaker 3 (28:41):
That's right, that's right.
Speaker 1 (28:42):
What he created is just call it a dozen cameras,
sensors technology apps. Where you open the door of the
cooler like you would at home, right, you would it
at seven eleven or circle K, and you choose what
you want things. You're going to come in and out.
You're gonna read the nutrition label. You're gonna see too
(29:03):
much sodium. You're gonna put it back. You haven't charged
you for that. This goes on grabbing, pulling, reading, putting
back whatever you took out, whatever you keep and shut
that door.
Speaker 3 (29:14):
It'll charge your credit card. So we're spreading more of it. Yeah.
Speaker 1 (29:19):
Yeah, it's a virtual mart, right, it's smart mart, So
it's a it's a virtual AI driven market. And of
course they're aggregating tons of data. They know what universities
like to eat and drink, they know what the hospitals want.
Speaker 3 (29:34):
And when he has all the data, very interesting story.
Speaker 1 (29:39):
Not a low cost not like vending where you're like, oh,
could I do this for five to ten grand?
Speaker 3 (29:43):
You're still into this for six figures.
Speaker 1 (29:45):
But it's a next level opportunity playing into the AI
kind of theme and really the way the consumer wants
to interact. The consumer wants to read the label. There
was a time nobody cared. Right now everyone's like, well
my god, I'm I look at all this shick is
forty sugar and they put it back. So things have changed.
Speaker 2 (30:04):
Yeah, I mean that was fascinating, and so you know
what's next. I mean, you're right, we can't even begin
to predict. But but that was that.
Speaker 3 (30:15):
You just need to be the disruptor.
Speaker 1 (30:16):
That's the thing, like you said about the doctor, Like Cliff,
you think doctors will go away, A lot of them
are going to go away. Well, what doctors will survive
the ones that embrace AI, the ones that embrace the
very technology.
Speaker 3 (30:27):
That's trying to replace them.
Speaker 1 (30:29):
So what entrepreneurs will survive the entrepreneurs that embrace AI.
And like like home inspection services, So I own a home.
Speaker 3 (30:37):
Let's just say I own a home inspection company.
Speaker 1 (30:39):
And now Tesla Optimists is now doing home inspection through
self driving cars and inspecting your home.
Speaker 3 (30:47):
I want to own the business.
Speaker 1 (30:48):
I will buy those bots and I will send them
to the home owners home. So I want to be
the disruptor in this next in this next phase of
AI life. Next will come quantum computing, and the game
has changed forever. And that's where Goldenman feels all these
jobs are going.
Speaker 3 (31:05):
To get lost.
Speaker 1 (31:06):
I want to be self employed in the future, and
I want to be the disruptor in the future and
not disrupted.
Speaker 2 (31:11):
Is that some of the conversation you're having with people.
Speaker 1 (31:15):
Definitely, Definitely, there's five areas we focus on.
Speaker 3 (31:20):
The first area we focus on and we title them.
Speaker 1 (31:23):
And let me explain the titling because some people like
I don't get it.
Speaker 3 (31:26):
The first title is.
Speaker 1 (31:27):
Called the feminization of men, and it's not a political statement.
It means that we have literally feminized men in America.
Speaker 3 (31:34):
What does that mean. It means that their sperm count
is fifty percent lower than.
Speaker 1 (31:39):
It was a decade ago. You had both sides of
the aisle at the last election talking about IVF because
our youth can't even have children anymore. So you have
low sperm count, you have testosterone levels plummeting with men
across the globe. It's not just America, it's everywhere. You
have men who can no longer use tools. So we
refer to the category as a feminization of men. Well,
(32:01):
why is it a category because franchising can backfill. We
have testosterone brands, right, we have every brand involving the
use of tools. We have men's health brands, all of
that stuff. So anything evolving men and that theme, I'm
all in.
Speaker 3 (32:16):
And it is ai resilient. Second category, the Silver Tsunami.
Speaker 1 (32:20):
Not only are we not having babies, but we're an
aging population, which is why Elon keeps banging the drum.
To repopulate, you have to have a young, healthy society
to care for your aging society. Look at Japan, it's
an ancient society. They're not getting married, they're not having children,
and the country is aging and their economy is basically
(32:41):
flat to negative.
Speaker 3 (32:42):
I mean, just look it up.
Speaker 1 (32:43):
It's crazy what's happening over there. The government is paying
people to get married, they're paying you to have babies.
They can't have enough and repopulate their great nation. So
that's what we're dealing with here. So the Silver Tsunami,
you have an aging US population. Anything of aving home care,
non emergency medical transportation, building ramps for the elderly, grab bars,
(33:06):
anti slip, assisted living, selling, renting, repairing, wheelchairs, mobility items.
Massive market, and now we're aging, we're not repopulating. So
what did we do next? We humanized pets and animals.
It's our third category, the humanization of pets and animals.
They're not dogs, they're not cats, they're literally family members.
(33:30):
I have a neighbor pointing out my window. Pay twenty
thousand dollars to do surgery on the dog that would
not live more than six months after surgery, and they
all knew it. But it's a family member, and you
will spare no expense to protect and help preserve the
life of a loving family member. And that's exactly what
he did. Twenty grand had surgery, dog died in less
(33:51):
than six months.
Speaker 3 (33:52):
We humanize them. It's one hundred and sixty billion dollar
market pet care, whether you're grooming them or them.
Speaker 1 (34:00):
Daycarring them, playing with them, training them, stopping them from barking,
selling them food, ton of money on godly amounts of money.
Speaker 3 (34:09):
Next category, public schools suck period, total failure. None of
these kids are ready for life.
Speaker 1 (34:15):
Anything evolving, youth enrichment, we're in huge category. And lastly,
you could see the theme. We're aging with it anything
anti aging anything, biohacking anything, beauty, vanity anything, botox, anything
to make a person feel better about themselves, healthier, NACS, peptides,
(34:37):
testosterone therapy. You can see how the loop gets closed
on the five. Those are the five that we focus on.
You have the longest runway, you have the greatest resilience
from AI threats, and again those are businesses that you
could become the disruptor and not the disrupted. And that's
really where we focus with our clients is brick and mortar,
(34:58):
non brick and mortar in those fire categories.
Speaker 2 (35:02):
Wow, that's super interesting. Thank you for running through those.
What about climate? Like you know, things like I just
listened to something amazing on solar and how we could
we could go absolutely creezy like Germany and Australia are,
but we're not because we have too many regulations around things.
But but yeah, is that a category.
Speaker 3 (35:21):
Or now that there are solar, there are charging state.
It is a very niche category.
Speaker 1 (35:28):
There's not a lot in it, but people, you know,
like look at batteries plus bolt right batteries plus was
let's do all led Let's get rid of incandescent, let's
be energy efficient. That business model has taken on a
life of its own. We do have some solar brands,
but it's not, at least not in my world.
Speaker 3 (35:49):
It's not as popular.
Speaker 1 (35:51):
The average investor for US is looking for something that
we refer to as asymmetrical, low investment, high margin, very
fast break even, requires as few employees as possible, and
highly scalable, recession resilient, so on. Right, So that's kind
of what we look for, is making sure we're checking
(36:12):
a lot of boxes for today's highly educated consumer. Think
about the technology the average person has at their fingertips
between GROCK between you know, I think it's genesis, between
chat GPT. Think about the technology and how quickly you
could get up to speed and just say, you know
(36:33):
best something to do. Then we come in to true
it up and make sure that it marries properly with
the client.
Speaker 2 (36:40):
So well, and you know we're we're almost out of time, sadly,
But tell me a couple of things that make a
good franchising. You did before, but it I mean two things.
One investment wise, you know, what's a minimum amount of
person ut in.
Speaker 1 (36:59):
I tell people don't even think about franchising if you're
not willing to put up at least one hundred thousand
of your own capital, non borrowed. I put emphasis on that,
that's your liquidity, it's your skin in the game. In
addition to that, you will need some debt, and the
debt can range from another fifty to one hundred and
(37:19):
up it. But if you set to me, home care
seems simple caring for the elderly.
Speaker 3 (37:25):
You're talking one hundred and fifty thousand to buy a
brand like that.
Speaker 2 (37:28):
It's also not simple that I know from knowing a
lot of people, and maybe it isn't a franchise level
for people starting your own health care or home care businesses.
It's finding the caretakers. That's the trick.
Speaker 3 (37:39):
When I you're one hundred percent right.
Speaker 1 (37:41):
When I met by Simple is no vehicles, no brick
and mortar, no construction, no site selection. Yeah yeah, Like
I'm just gonna buy it and I'll start caring for
the elderly.
Speaker 3 (37:50):
But you're right, the biggest issue with that business is staffing. Yeah,
you're one hundred percent right.
Speaker 2 (37:55):
This is so interesting. I actually want to call you
I and I want really want people listening to recognize
the fact that if this is like, if any questions thoughts, ideas,
light bulbs are going off in your head right now,
I mean, go to prenocity dot com and set something
up with you because it you're really kind of energizing
(38:17):
me about the opportunities and and they you know, it's
it's really a new day with opportunity at the same
time that a lot of other opportunities are going away,
So it's it's a little bit of a lifeboat in
my opinion, if you if you have some and speaking
of having some cash, and I guess this will probably
(38:39):
be the last question I can ask today, But what
if somebody is thinking, well, my money's all in my
iris or my four ohn k, is it worth it
to pull some of that out and do this? What
would you? And that's a big question, but just like
off the top of your head, any thoughts.
Speaker 1 (38:56):
So I'm a I'm a former investment banker, and I'm
a huge fan of what's called an robs. No one
ever asked that question, and no one actually knows that
it's a viable tax strategy, so really quick, it's called
an robs. It is not a self directed era. It's
a rollover as business startup.
Speaker 3 (39:17):
That's what it stands for.
Speaker 1 (39:19):
It was affectionately named by the IRS and a white paper,
stupid name, but they named it and Robs A robs
and it allows you to take money out of any
qualified plan four three B four fifty seven IRA, steps
simple and so on. It allows you to take any
money out of there dollar for dollar.
Speaker 3 (39:38):
Here's the key.
Speaker 1 (39:39):
You avoid federal, state, and early ritual penalty when you
do it, So don't let your broker tell you can't
do it. This has been on the books, Michelle since
nineteen seventy four, this tax strategy.
Speaker 3 (39:51):
This is not new.
Speaker 1 (39:53):
This has been around since nineteen seventy four under the
Employee Retirement Income Security Act ARISA right a risk a law.
Speaker 3 (40:01):
Everyone that's in a four one K. Here's the thing.
Speaker 1 (40:03):
If you currently work at a company, you can't use
that money because you're you're gainfully employed with a company
where your four one K is so well, then how
do I do it?
Speaker 3 (40:14):
You have to leave that company or use.
Speaker 1 (40:16):
An old four K or an old IRA that you
have a fidelity or you know, Merrill Lynch or whatever.
But you could use dolph a dollar. I want to repeat,
it's a zero taxable event. If you have one hundred
grand in your IRA, you can move one hundred grand
dollar for a dollar, avoid federal state and early withtrol penalty,
and invest in the business and still maintain tax deferred status.
Speaker 3 (40:40):
If you sell that business for let's say two hundred.
Speaker 1 (40:42):
Thousand dollars, remember you put up one hundred He's dell
for a two hundred. Two hundred grand goes back into
the IRA tax deferred, so you still maintain you're investing
in you instead of investing in companies and mutual funds
and stocks and bonds. You're investing in you now. And
you're saying, I'm going to buy a franchise, but really quick.
I know we're out of time, but I have to
say this because I love the tax strategy. If I
(41:05):
asked you right now if you had one hundred grand
in your checking account, you're like, yep, I got one
hundred grand in my checking account.
Speaker 3 (41:11):
Okay, what's in your IRA?
Speaker 1 (41:13):
And you say to me, I have one hundred grand
right now in my IRA. I would look at you
and say you do not have one hundred grand in
your IRA.
Speaker 3 (41:22):
You say, yes, I do.
Speaker 1 (41:23):
Here's my statement says one hundred grand seventy cents on
the dollar is yours at maximum maximum seventy cents on
the dollar depending on what state you live in with
a high state income tax on top of federal income tax.
So I love the idea of buying businesses with the
state and federal government's money to speculate to accumulate wealth.
(41:48):
If I lost one hundred grand in my checking account,
that is a hard dollar, a hundred gone. I lose
one hundred grand out of my IRA. At best, it's
seventy grand that I lost. Yeah, see the logic, And
once your money's expanded by new ideas, it doesn't go
back to its original shape. And that you know, you're
all about money creating money, creating wealth is all about
(42:08):
being tax efficient and understanding what money to use, what
levers to use, what leverage to use. And a lot
of people don't understand that, and that's why they need
an advisor to say, why would you use one hundred
grand from your IRA, from from your UH, from your
checking account? WHOA, my husband, I are comfortable with it.
Let me show you a tax strategy that'll blow your mind.
Speaker 2 (42:29):
Love this really really huge important information.
Speaker 3 (42:33):
Thank you so much, My pleasure and.
Speaker 2 (42:36):
This was fascinating. I mean I could talk to you
all day actually, and there's so much more and tell
us your podcast so people can listen to you.
Speaker 1 (42:42):
Yeah, it's very thank you for that. It's very different
from yours. Right, you're you have your niche, so I
don't I don't feel we compete. I only interview founders
of franchise brands. And it's called pursuit of profit. Okay,
so pursue of profit. And again, if you listen to
our show, you're only listening to founders of franchise brands.
Speaker 3 (43:03):
And by the time.
Speaker 1 (43:04):
You listen to one, two, three, four episodes, you get
an idea of the questions investment, right, how do you
acquire customers who you're disrupting?
Speaker 3 (43:13):
And so on? Like we just brought a woman on
the other day that did self tanning. You know they're
killing it. They're absolutely killing it.
Speaker 1 (43:19):
He's self tanning, all vegan, all organic, all clean. Just
there's always something cool coming on the show. And again
you're getting it straight from the founders. So it's a
unique show. But it's a it's a niche show. It's
not as broad as, let's say, a show like yours.
It's only for people that are really inched it in franchising.
Speaker 2 (43:37):
Oh, I love it. Okay, what's your what's your favorite franchise?
I won't.
Speaker 3 (43:43):
That's a tough one.
Speaker 1 (43:45):
Let me leave it at Chick fil A because you
can't buy it right now, I'll leave it.
Speaker 3 (43:48):
I mean, there's there's four thousand brands.
Speaker 1 (43:50):
Yeah, but if you said to me, what sector do
I love the most, I'm in love with my category
of five.
Speaker 3 (43:55):
But my love would be anything evolving the use of tools.
Speaker 1 (44:00):
People don't understand the force multiplying effect of being in
a business that requires tools and a culture that told
for the last two decades, go to college.
Speaker 3 (44:12):
Forget the trades.
Speaker 1 (44:13):
There is an ungodly amount of money to be made
in the trades, and they are ai resilient for now.
Speaker 2 (44:20):
Yeah yeah, yeah, okay, Well, and I'll tell you mine.
And I only know a few, and maybe I had
ten in the top of my head. But my favorite
right now is the now Massage.
Speaker 3 (44:29):
Oh wow, love them. Well, they're in California.
Speaker 2 (44:32):
They're so great.
Speaker 3 (44:33):
Yeah, no, sheet rock, canvas walls. I would love the model.
Speaker 2 (44:37):
Yeah, it's great. Well, wow, Cliff, thank you. I loved
having you on the show. I actually I love to
have you back sometime, but I also would like to
learn more from you about this. You really seem like
you're pretty cutting edge on this whole franchise.
Speaker 3 (44:51):
I appreciate it. Thank you. Yeah, reach out if you
want to talk anytime. There's no question. Fantastic him on
here just to be on the show, and I appreciate
the invitation.
Speaker 2 (44:59):
Yeah. Now this is great, really really great. So thank
you and thank you audience for listening to the show.
I hope you loved it as much as I did.
And if you have some friends or family who need
to hear this show, please forward it and share it
and give us a like or a review on any
of the podcast platforms or my Limit Prey Life YouTube channel.
(45:21):
And thank you so much for listening. We'll see you
next week.
If you think about if you think about like Elon Musk,
it's like, okay, people say, I want to be an entrepreneur. Okay,
what's an entrepreneur right, Everyone's like it's a business owner.
To me, a true entrepreneur is someone that's a disruptor.
They created something, They built a business like, they created
a category, you know, like an Elon or a Sam Walton,
(00:20):
all these different types of people that created you know,
Bill Gates and Steve Jobs. They're category creators. They're entrepreneurial,
they're visionaries. They see what's going to happen in society. Franchising,
you don't have to be that. You don't have to
be like one to three percent of the global population,
you know, to be successful.
Speaker 2 (00:45):
Hey there, and welcome to Money and You. I'm Michelle Perkins,
your host. My search for more fulfilling work led me
to career in business coaching, where I stumbled upon a
game changing discovery. Money issues often start with our mindset
and habits. Yes, you see, our relationship with money is
the key to overcoming those frustrating financial obstacles. As an entrepreneur, coach,
(01:07):
and problem solver, I'm passionate about helping you create a
great relationship with money, because turns out that's the foundation
for a limit free life. Each week on Money in You,
I speak with amazing guests about all things money, mindset,
practical tips, and everything in between. We're here to give
you new insights, education and empowerment, so money can be
(01:29):
one of your favorite relationships. So join us for some
lively conversations and let's transform your financial life together. Hello, Hello,
and welcome to the Money and You Show. I'm Michelle Perkins,
your host, and super excited to have another great guest
on today. On today's show, we are going to talk
about something new and different. We haven't talked about this
(01:51):
much on the show, and it is a great opportunity
for people listening to learn about franchising and other related
bususiness opportunities. So, without further ado, I'm going to introduce
a very remarkable guest that we have today. His name
is Cliff not A Mocker and he began his career
(02:13):
as an investment banker at Morgan Stanley. After leaving his
Wall Street career in two thousand and three, he acquired
a master franchise for New York and Connecticut, diving headfirst
into the franchising industry. Since then, Cliff has owned and
operated various franchise businesses, including Cartridge World, Personal Training Institute,
(02:33):
Pure Clean, and Made Right, as well as non franchise companies.
He's also developed well known domestic and international brands like
Four Season Sun Rooms, Contour's Express Island, Thin Pokey, and
Crack Boba. With over twenty five years of experience in franchising, finance,
and business, Cliff has been involved in every aspect of
(02:53):
the franchise or franchisee relationship. Cliff now uses his extensive
knowledge to assist corporate executive in building generational wealth, diversifying
their investment portfolios, and navigating career transitions through franchise ownership.
Speaker 3 (03:08):
Cliff welcome, well, thank you so much, Michelle. I'm happy
to be here.
Speaker 2 (03:12):
I'm so glad you're here. We had a really great
conversation before we started this today, and I was really
I loved your passion for what you do, and I'm
really interested in the franchise model. I think having been
in the corporate world and then also been an entrepreneur,
you know, with the business that I started myself, there's
(03:36):
something really unique and special about franchising. If you're a
business owner who can create a business that can be franchised.
That's one aspect of it that's great, But also for
people who want their own business but don't really want
to go through all that startup you know craziness, which
(03:56):
it kind of is. You know, I think this is
great option, and yeah, I want you to give us
a little more insight into how you got into it,
and then I'll come back with I have a million questions.
Speaker 1 (04:09):
So yeah, no, I appreciate it. Yeah, So I'm a
serial entrepreneur. I have been self employed my pretty much
my whole life. Even as an investment banker, you're not
really getting paid, right, you have to go out there
and dial and gather assets and make a living and
allocate those assets. Right, So I pretty much feel like
I've been self employed most of my life. I started
very young, like eight, breaking golf balls out of ponds
(04:32):
at country clubs, cleaning the balls and selling them and
doing everything you could do as a young entrepreneur, raking leaves,
shoveling snow and just selling things, right, doing things and reselling.
Speaker 2 (04:44):
Nice there for one second, because so much of the show,
I love to talk about people's relationship with money in
their mindset around money. So what was going on that
at ate you decided to You could have just been
doing anything. At eight we happened.
Speaker 3 (04:59):
We wrote a book and it's called Beyond the Brand.
Speaker 1 (05:01):
It's over my Shoulder, and that's actually the opening paragraph
is most kids are playing at the time. I grew
up in the eighties, and most people were playing, and
I was always thinking about how could I make money.
I don't know, it was just it was just a
prevailing thought for me, and I think it really did.
My mom ingrained in us and my father, you know, hustle, hustle, hustle,
(05:23):
provide you have to work. So a lot of it came,
I think just through upbringing. My dad was very entrepreneurial,
always trying to do something, even though he was a
detective in New York. He was always trying to do
something on the side, something entrepreneurial. My dad actually had
I've actually never said this on a podcast before. My
(05:44):
dad had a billion with a bead dollar idea in
our garage in New York in the nineteen eighties. My
father was an auto theft detective and he was messing
around with little numbers and letters with a sand blasting
and I'm like, what are those? And he goes, I'm
going to sand blast the then numbers on the parts
(06:05):
of the car so that people won't want to steal
it because now it has a serial number in there.
I don't think I need to tell the audience how that,
how that aged well for someone, not us.
Speaker 3 (06:16):
But that was the kind of guy he was. He
was always.
Speaker 1 (06:19):
Thinking, always tinkering, always wanted it more, always wanted to
provide more for his family. Phenomenal dad. I have had
great parents. I grew up in and I would we
were not affluent. I grew up in an affluent neighborhood.
We were middle class people that grew up in a
very nice neighborhood. I walked to the country club. That's
where I raked the golf ball. So my relationship with money,
(06:40):
I had a very risk taking dad and I had
an ultra conservative mom who very conservative, like you never
like you never compromise the house, right, you never like
leverage too much. You know, you pay cash, you don't
borrow like that type of So my relationship of money was,
you know, very different. At a young age and listen
to anyone anyway, I did my own thing.
Speaker 3 (07:02):
So to me, wealth was freedom. Wealth was independence.
Speaker 1 (07:06):
Money provided a lot of solutions to a lot of problems,
and I wanted.
Speaker 3 (07:11):
It, and I wanted it at a very young age.
Speaker 1 (07:13):
And fast forward, I'm fifty three now you know I've
done well for myself in terms of my goals. But yeah,
I agree with everything you said at your opening statement.
And I always see people that make fun of let's say,
wealthy people, or they'll insult the rich, and I'll be like,
you do realize, like just saying that and putting that
out in the universe, you will never be wealthy. Like
(07:35):
you cannot speak negatively about wealth, wealthy people, wealthy things.
Speaker 3 (07:41):
You can't do that.
Speaker 1 (07:42):
It's the law of attraction, right, It's a universal law,
Like you have to embrace the if you want to
create wealth, you have to embrace things that are wealthy.
Speaker 3 (07:51):
Yeah, it's crazy and yeah, and.
Speaker 2 (07:55):
So thrilled that you said that. And you know it's
not like if you because we all have a tendancy
once in a while to do that, you know. And
it's so interesting to me because you put it so well,
and people at the same time that they're talking about,
how you know, horrible people with money are are out
there trying their hardest to make their own money and
(08:17):
build their own wealth. And so there's this complete disconnect
really because you know, I mean, it's never the money,
it's the person with the money. So there are in
fact bad people with money who do bad things, and
there are also good people with money who do good things.
And it's not about the money, it's about who you are.
And yeah, I really do love that you said that, though,
(08:39):
because it's almost like a repellent. It's almost like, as
you're saying these things, you might as well just be
like spraying money repellent.
Speaker 3 (08:46):
Yeah, that's exactly.
Speaker 1 (08:47):
It's what you think about you bring about and that's
that mindset. If you're going to think about negativity and
you're gonna think about money, it's nothing but trouble. You know,
it causes problems in the family. You know that blah
blah blah doesn't shane in ju life.
Speaker 3 (09:00):
You don't need it.
Speaker 1 (09:01):
I want to be you know this, or I want to
be that. And if you just keep saying that about money,
like you're never going to have it right. He needs
to be in proa like I don't walk over pennies.
I have a relationship with money. And my son who's seventeen,
almost seventeen, he's always laughing at me.
Speaker 3 (09:17):
I pick up pennies, I pick up loose change.
Speaker 1 (09:19):
My relationship with it is I respect it, like I'm
not obsessed with it. I respect it. I would never
walk over it. Nothing is too good for me. A
penny on the street, I pick it up. I do
my mantra, right, I do my normal stick when I
pick it up and put it in my pocket and
(09:39):
off I go.
Speaker 3 (09:40):
So that's kind of my relationship with it.
Speaker 1 (09:42):
So if you like the theme of the show, yeah, yeah,
I love it.
Speaker 2 (09:47):
I really am. I mean, we're going to move on
from this and talk about franchising, but since we're here,
this is my favorite topic. And it's so individual, Like
I really love that you embrace your little ritual, you know,
I mean, and that's all you need to do. And
whatever it is for you, it doesn't you know, it
can be pennies, it can you know. I know people
who like clean out their wallet because it's you know,
(10:09):
it's open to receding instead of stuffed with old receipts
or whatever. And all of this is it doesn't really
matter what the ritual is, or what the affirmation is.
If it's meaningful to you, it's reinforcing this idea of
you and money. I mean this relationship that's good. Yes, yeah,
(10:29):
And how did you kind of get some enlightenment around
this because obviously you've you've done your homeworks good.
Speaker 1 (10:36):
I'm a big uh. I mean it's a crazy story,
but a long story short.
Speaker 3 (10:41):
So I was in the Buffalo airport.
Speaker 1 (10:43):
This is pre housing crisis, and I just kept making
eye contact with this person in the terminal and she
ended up approaching me and handing me a video which
was the secret just saying like that this She just
said something about I can feel your energy and she
said this this can change.
Speaker 3 (11:02):
Your life in a crazy turn of events.
Speaker 1 (11:07):
I believe that this woman I met in the airport
is the The Good Nurse. If you ever watch the
Netflix series, I believe that was her wo and if
you and if you don't know what The Good Nurse is,
it was a movie about a nurse who was a
whistleblower on another nurse who is injecting let's say, poison
(11:30):
into IV bags and randomly killing people in hospitals. But
the genius behind the sinister act was this particular nurse.
What do you do when someone dies in the floor
who was working that day? He would randomly inject into
these IV bags, so that it was when he was
on shift, off shift. There was no there's no way
(11:53):
of saying, well, he was on shift every time this happened.
And she was the whistleblower. It was on Netflix, it
was called The Good Nurse. And I believe that the
woman I met in the airport was the whistleblow or
the good nurse, and I believe that that was the
woman that actually helped change my life.
Speaker 3 (12:08):
And of course she did it again by catching this character.
Crazy story.
Speaker 1 (12:13):
I've never shared it before, but that you asked me
and I answered.
Speaker 2 (12:16):
It a great story, thank you. Yeah, isn't it interesting
these little moments, And you know, we have to be
aware of the opportunities that come to us and the synchronicities.
And you know the fact that you even took the CD.
You know, it could have been like you know.
Speaker 1 (12:33):
Oh it was. It was a weird exchange. Yeah, yeah,
it was different for sure. It's not your normal exchange. No,
I took it very seriously. I don't think life is
so random. You know, I was adopted at a young age,
and I think that people have brought together for a reason.
So no, I don't think life is so random. I
believe in synchronization. I believe in thoughts become things. I
(12:53):
believe in the law of attraction. I believe in a
lot of a lot of things that have reinforced. You know,
I thinking my way of life, how I treat.
Speaker 3 (13:00):
People, how I'm treated by others. You know, I used
to have a boomerang. Here's an example.
Speaker 1 (13:04):
I used to have a boomerang in my office, like
in my credenza above my head, and people would always go,
what is that? And I would look back and I'd
be like, Oh, life is like a boomerang. What you
put out there comes back with lethal accuracy.
Speaker 3 (13:18):
So if you want to put hate out in there,
it's going to come back.
Speaker 1 (13:20):
You want to put pain, you want to poot good feelings,
good vibes, you want to help people become rich, It
becomes way easier to become wealthy yourself. I mean, it's
like rule number one. If you want to be wealthy,
you have to help others become wealthy.
Speaker 3 (13:33):
Too simple.
Speaker 2 (13:35):
Yeah, I love that it's simple, But in some ways
it goes against a lot of what people think and
what you see out there or hear out there. So
that's why most people are rich exactly, exactly exactly and.
Speaker 3 (13:47):
The catastrophic thinking.
Speaker 2 (13:49):
Yeah, and I don't know what's happening in the universe.
But the guests who are coming on the show more
often than not, I think most of the time have
this same kind of thought process, and they're doing very
very well and creating all kinds of success. So this
isn't like, you know, for yoga teachers and people. I
(14:11):
mean it is, but it's not like kind of ideas
that are separate from just the regular society and you know,
all kinds of people. So I think it's great. I
think it's great to get this message out there and
allow other people to tune in and think absolutely absolutely Okay.
(14:32):
So let's travel back to franchising and some of your
thoughts about that. So this obviously is also a love
of yours. So how and why.
Speaker 3 (14:45):
To me, franchising is one of the single greatest methodologies
ever created to create wealth without inventing anything. There is
no methodology more powerful than franchising.
Speaker 2 (15:00):
Tony there, Tony Cliff's frozen on my end?
Speaker 4 (15:02):
Is it me being frozen, it's you I'm here, I said,
I think it's yours.
Speaker 3 (15:13):
Are you on Wi Fi? Are you on?
Speaker 2 (15:15):
I am? And it's new like super Wi Fi. I'm
going to actually if it's okay, I'm gonna.
Speaker 3 (15:24):
Sure. Would you do change studios? Well?
Speaker 4 (15:31):
I had a studio in Burbank and then I moved.
Speaker 3 (15:35):
It's like, do you have a desire to be successful? Yes?
Can you follow a proven system? Yes? Can you can
you like lead people? Can can do people believe in you?
Speaker 1 (15:46):
Do you like do you have a vision for what
you want to do with your small little company on
main Street?
Speaker 3 (15:51):
Yes?
Speaker 1 (15:52):
It's like okay, people always ask me all the time.
It's like, what does it take to become a franchise e?
And I took this from Jack Welch. I go, I
call the four E one P principle.
Speaker 3 (16:02):
Do you have energy? Yes? Can you energize others? Yes? Right?
Can you execute the model? Yes? Right?
Speaker 1 (16:10):
It's like all these different things. Are you passionate? And
it's just are you edgy? Can you actually fire and hire?
Can you make There's very difficult decisions in business, and
a lot of people keep dead wood in their business,
So like franchising really is for everyone, especially if you
resemble the remarks I made about the four E one
P principle, which is what people want.
Speaker 3 (16:32):
People want to work for leaders. They want to work
for losers.
Speaker 1 (16:34):
They want to work for people that are going to
lead them and have energy and have a vision. And
you see an upside like I could get promoted, I
could grow, They're opening a third location, Like this person
is serious, they want to grow. I want to work
with them. So yeah, I love franchising. I got involved
in it. I was an investment banker and I was
managing a ton of money with at the time Smith Barney.
Speaker 3 (16:57):
And I ended up going to Barnes and Noble.
Speaker 1 (16:59):
I bought a franchise handbook and found a printer consumable
company in Australia that reverse engineered the inks and toners
and secret handshake chips, and I ended up buying the rights.
Speaker 3 (17:13):
Now I didn't buy the company.
Speaker 1 (17:14):
I bought the rights for the state of New York
and Connecticut, and I scaled thirty six locations and then
sold it.
Speaker 3 (17:21):
Moved to Florida, where I am.
Speaker 1 (17:22):
Now that was my introduction of franchising, and it was
called master franchising, which is one level beneath the franchise,
or it's where you buy a state or a massive
territory and I have the right to sell you a
franchise and collect fees from you and royalties and sell on.
(17:43):
So it's very different from being a franchise, and it's
called the masters.
Speaker 3 (17:47):
It's as there are levels to franchising.
Speaker 1 (17:49):
But that's actually how I entered and then from there
owned various franchises, and then worked for private equity firms
that bought franchises and then continued to scale brands.
Speaker 3 (18:01):
I've been doing this for the last twenty five years.
Speaker 2 (18:04):
Wow, that's very interesting. I've actually never heard that term
the master of franchise or.
Speaker 3 (18:10):
What was it again, yeah, master, master franchising.
Speaker 2 (18:13):
Okay, wow, very interesting. So there's a lot there are
a lot of opportunities people probably don't even know about
in franchising.
Speaker 3 (18:20):
I mean, I think we can definitely basic.
Speaker 5 (18:21):
I'll buy a McDonald's and if I do well, all
by you know, two and then three, and somehow there's
this magic number out there that if you have three franchises,
suddenly you turn the corner and become profitable.
Speaker 2 (18:33):
I mean, how what are the myths out there and
what are the truths.
Speaker 1 (18:37):
That's interesting you say that because a lot of times
I explained to people like everyone wanted to buy a subway,
and it's like, well you can't own one. They're like,
why not because it doesn't make any money? Right, And
people like, well, why would I want to buy more
of something that doesn't make any money. The folks who
were purchasing a subway love subway for various reasons, one
(18:58):
of them being they just have to owe when up
the door and people would walk in.
Speaker 3 (19:02):
Not a lot of people. The stores only do like
three point fifty four hundred grand a year, like this.
Speaker 1 (19:07):
Is nothing to get excited about subway. But people will
get excited about certain brands. And a lot of times
people get more excited about the product than they do
the operations of the business.
Speaker 3 (19:19):
And that's a huge mistake to me. I don't really
kee it right.
Speaker 1 (19:22):
I have to fall in love with the operations of
the business, the leadership team, right, you know where they're going,
product development, pricing, competitiveness in the market. People just fall
in love with the pizza and it's like I'm going
to own this, Or if people fall in love with
Chick fil A and they want to own it, and
then they figure out and that goes to show you
that there's no discipline in investing because half of America
(19:45):
and probably more than half of the people listening, don't.
Speaker 3 (19:48):
Even know that you can, can't, and will never own
a Chick fil A. You cannot own one. You're nothing
more than an overpaid employee.
Speaker 1 (19:56):
And that shows you that people really don't know investment
opportunities because everybody wants to buy a Chick fil A
until they're told all Chick fil As are owned by
Chick fil.
Speaker 3 (20:06):
A Corporate, all of them.
Speaker 1 (20:07):
So when you hear people say they're an owner, they
shouldn't even be using the word franchise e. They should
not be using the word owner. They're an employee. They're
an operator period Now while they making good money, yes,
but they're never going to participate on the exit of
that business. So we work with investors and say, okay,
(20:29):
like Cliff, who will you what do you do?
Speaker 3 (20:31):
How do you help my audience?
Speaker 1 (20:32):
Right? It's like we help them. It's like what one
of your listeners is like, I'm so sick of corporate America.
I got to get out great So they would call
me fifteen to twenty minute consult.
Speaker 3 (20:43):
What's going on? Right?
Speaker 1 (20:45):
Tell me what's happening in your life. I'm forty five
years old, you know, net worth of a half a million.
I have one hundred liquid I need to replace one
hundred and twenty thousand a year. You know, my spouse
is working two kids. I can't do this anymore. I
want to go out of my own.
Speaker 3 (21:00):
We will then work with them and formulate investment objectives.
We do this for free. By the way, we do
it for free.
Speaker 1 (21:06):
Yes, nobody believes it, so I do say it twice,
and I understand the word has been destroyed.
Speaker 3 (21:12):
It's been abused, right, it's been so abused. We work
for the buyer for free.
Speaker 1 (21:18):
We are paid like headhunters or realtors, which means we're
paid by the seller or paid by the other party.
All right, So we work for the buyer your listener,
for free and will work for them for the life
of the relationship.
Speaker 3 (21:31):
There's no scenario where they pay for us. Ever. Everything
we do is free. Again, we're paid by the seller.
Speaker 1 (21:37):
Yes, instead of showing them houses, we show them businesses.
Speaker 3 (21:41):
Same concept of.
Speaker 2 (21:42):
Yeah, and actually you're making me think I don't even
I guess I did say the name of your company
and the bio. Yeah, but do we have that under
your name?
Speaker 1 (21:52):
Yeah, I believe, I believe in Yes, he put Frenocity
turn Fernocity under my name.
Speaker 2 (21:58):
Okay.
Speaker 3 (21:58):
Yeah, the company's for aw cityfernocity dot com.
Speaker 2 (22:01):
Okay and yeah.
Speaker 1 (22:02):
People could schedule a consult and we could walk them
through their options, like what does it take?
Speaker 3 (22:07):
What do I need?
Speaker 1 (22:08):
Do I have to have background experience? I want to
own a roofing company. Do I need to be a roofer?
Speaker 2 (22:13):
No?
Speaker 1 (22:14):
You could own a roofing franchise and never step foot
on a roof Like a lot of people don't understand
that about franchise and they feel like they're buying a
job and they need direct industry experience. Absolutely not. I've
owned twelve brands. I knew nothing about any of them.
Speaker 2 (22:29):
Nothing that is really fascinating, you know, And there are
a lot of franchises. I get a newsletter from a
franchise broker who I met a long time ago, and
she the franchises out there will surprise you. You know.
We all think of Subway, and you know Chick fil
A or McDonald's. I didn't know that about Chick fil
(22:50):
A though, but there are many, many service oriented franchise
businesses and things like roofing, Like you just said, I
would never think of that. I think most people wouldn't,
and so it's a pretty vast array of opportunities for people.
I also loved what you said about liking the product,
because the one time I got serious looking at a franchise,
(23:13):
I had gone to a party and somebody had one
of those nothing bunt cakes, you know, and I just thought,
oh my gosh, this is the greatest idea. So I
kind of went down the road for a little while
looking at that, but the buy and fee was high,
and I just the more I looked at it, the more.
I mean, I agree with you, but it is interesting
because it isn't just it really is a business. So
(23:34):
it'd be nice. I mean, it is nice to like
what you're having interest, you know, feel the even with
something like roofing, if you're just a person who knows
that's valuable, and you feel like you're offering a service
that you believe is valuable, you know that in itself
is probably good enough, but you do have to have
some connection.
Speaker 3 (23:55):
I think agreed.
Speaker 1 (23:57):
I would say over all the years of doing this
I try and get a degree of capitalism from the client,
and over the years, what I've learned it is about
seventy thirty. It's seventy percent I need to make money
and only thirty percent I need.
Speaker 3 (24:12):
To love it. I need to love it.
Speaker 2 (24:14):
So it's like, Okay, is your ego in the way?
Speaker 3 (24:17):
Would you own a porta potty business?
Speaker 1 (24:19):
Some are like, absolutely not, I'm not going to a
cocktail party telling people that I'm in the porta potty business.
And then there's a whole other camp of capitalists that'll like,
if it makes money, and I'm laughing all the way
to the bank, i will own a porta potty business.
I have no ego. I'm here to make money. So
we determine ego. Ego plays a huge role in everything.
(24:42):
Probably one of the most misunderstood and underdiscussed topics, right
fear ego identification with the ego the reason why people
don't do things. So we want to understand the client's
position on that, and then the spouse. A lot of
times the client's like, I'll do it, and the spouse
are like, absolutely not.
Speaker 3 (24:58):
You will not be in the porta potty business. Do
something with more pen ash than that.
Speaker 1 (25:03):
So it just depends you don't need any direct industry experience,
which I think is interesting, Harriet. Yet the other thing
you have to understand, Michelle, that's happening, and like all
of our experiences you and I are to date are
obviously rear view, Mirra, what's happening now?
Speaker 3 (25:20):
No one is ready for AI? No one. What's it about
to happen to everyone?
Speaker 1 (25:27):
Okay, And I don't think people really understand the gravity
of what is about to happen, not just the United
States but to the globe. You're talking about three hundred
and fifty million jobs minimum that will probably be eviscerated
due to AI. I mean call centers dead, automated script dead,
cold calling dead, appointment setting dead, like all these things
(25:49):
that have routine repetition, they're just dead. It's all going
to be automated through technology. You could call major banks
right now you're talking to AI. I've had full blown
conversations with people where I had to ask.
Speaker 3 (26:02):
Them, are you AI or you a human being? Please
hold for a human being? Oh, I didn't know. I
didn't know. I had to ask and it was like,
do you prefer And I said, yeah, please put a
live agent on the line. Weird, but that's what's coming.
Speaker 1 (26:15):
So you want to distance yourself from the disruption of AI.
And it's coming, and it has its sites set for
the first time on white collar workers, not blue blue
was always getting kicked in the nuts, right going back
to the early eight you know, late eighteen hundreds, they're
always doing something to blue collar workers through automation. This
(26:37):
time it's going after CPA's, it's going after doctors.
Speaker 3 (26:41):
It's going after lawyers.
Speaker 1 (26:43):
I had aid give me a whole consult on a
pathology report.
Speaker 3 (26:47):
It's ridiculous.
Speaker 1 (26:48):
Yeah, there are doctors now on social media saying I've
got clients coming to me with questions that they've never
asked before, and the client is providing answers the patient
to me and alternative therapies that we're not even doing
in modern medicine exactly.
Speaker 3 (27:05):
Jig us up, Yeah, it's up.
Speaker 2 (27:08):
I couldn't agree more. It's it's I mean, you have
to choose a road, you know, you can go down
the fear mongering road, or you can go down you know,
the opposite. And I don't think we really have a
much choice. I mean, you know at this point, but
to try to see how we can you know, use
this for our own you know, help him anyways, But
(27:28):
a friend of mine recently went to the doctor had
a scan. They couldn't read well, and the doctor actually said,
you know, I'm gonna have AI take a look at this,
and which was, you know, just the weirdest sounding thing
to me.
Speaker 3 (27:40):
But it's the way we're going.
Speaker 2 (27:42):
So but to your point, I recently saw something I
was going to go there next. That was a franchise
opportunity and it was some kind of like an AI
operated convenience store in what looked like a vending machine. Maybe.
Speaker 1 (27:57):
Yeah, I don't know, crazy you're bringing that up. I
just viewed him on mypod like last week. Oh wow, crazier, Brent,
Where did you see that?
Speaker 2 (28:06):
I don't remember. I get all these you know, Morning
Brew and all of these little newsletters, and I'm thinking
it must have shown up somewhere in one of those.
But it caught my attention because it's very interesting.
Speaker 3 (28:19):
It's very interesting.
Speaker 1 (28:21):
So he he was healthy you vending, That's who they were,
this AI company, and then they changed the name because
he doesn't want to be viewed as vending anymore, because
that's not vending.
Speaker 3 (28:32):
Vending is glass wall.
Speaker 1 (28:35):
Put your money in, push a code, and a spiral
will split something.
Speaker 2 (28:39):
Out and hopefully won't just hang there.
Speaker 3 (28:41):
That's right, that's right.
Speaker 1 (28:42):
What he created is just call it a dozen cameras,
sensors technology apps. Where you open the door of the
cooler like you would at home, right, you would it
at seven eleven or circle K, and you choose what
you want things. You're going to come in and out.
You're gonna read the nutrition label. You're gonna see too
(29:03):
much sodium. You're gonna put it back. You haven't charged
you for that. This goes on grabbing, pulling, reading, putting
back whatever you took out, whatever you keep and shut
that door.
Speaker 3 (29:14):
It'll charge your credit card. So we're spreading more of it. Yeah.
Speaker 1 (29:19):
Yeah, it's a virtual mart, right, it's smart mart, So
it's a it's a virtual AI driven market. And of
course they're aggregating tons of data. They know what universities
like to eat and drink, they know what the hospitals want.
Speaker 3 (29:34):
And when he has all the data, very interesting story.
Speaker 1 (29:39):
Not a low cost not like vending where you're like, oh,
could I do this for five to ten grand?
Speaker 3 (29:43):
You're still into this for six figures.
Speaker 1 (29:45):
But it's a next level opportunity playing into the AI
kind of theme and really the way the consumer wants
to interact. The consumer wants to read the label. There
was a time nobody cared. Right now everyone's like, well
my god, I'm I look at all this shick is
forty sugar and they put it back. So things have changed.
Speaker 2 (30:04):
Yeah, I mean that was fascinating, and so you know
what's next. I mean, you're right, we can't even begin
to predict. But but that was that.
Speaker 3 (30:15):
You just need to be the disruptor.
Speaker 1 (30:16):
That's the thing, like you said about the doctor, Like Cliff,
you think doctors will go away, A lot of them
are going to go away. Well, what doctors will survive
the ones that embrace AI, the ones that embrace the
very technology.
Speaker 3 (30:27):
That's trying to replace them.
Speaker 1 (30:29):
So what entrepreneurs will survive the entrepreneurs that embrace AI.
And like like home inspection services, So I own a home.
Speaker 3 (30:37):
Let's just say I own a home inspection company.
Speaker 1 (30:39):
And now Tesla Optimists is now doing home inspection through
self driving cars and inspecting your home.
Speaker 3 (30:47):
I want to own the business.
Speaker 1 (30:48):
I will buy those bots and I will send them
to the home owners home. So I want to be
the disruptor in this next in this next phase of
AI life. Next will come quantum computing, and the game
has changed forever. And that's where Goldenman feels all these
jobs are going.
Speaker 3 (31:05):
To get lost.
Speaker 1 (31:06):
I want to be self employed in the future, and
I want to be the disruptor in the future and
not disrupted.
Speaker 2 (31:11):
Is that some of the conversation you're having with people.
Speaker 1 (31:15):
Definitely, Definitely, there's five areas we focus on.
Speaker 3 (31:20):
The first area we focus on and we title them.
Speaker 1 (31:23):
And let me explain the titling because some people like
I don't get it.
Speaker 3 (31:26):
The first title is.
Speaker 1 (31:27):
Called the feminization of men, and it's not a political statement.
It means that we have literally feminized men in America.
Speaker 3 (31:34):
What does that mean. It means that their sperm count
is fifty percent lower than.
Speaker 1 (31:39):
It was a decade ago. You had both sides of
the aisle at the last election talking about IVF because
our youth can't even have children anymore. So you have
low sperm count, you have testosterone levels plummeting with men
across the globe. It's not just America, it's everywhere. You
have men who can no longer use tools. So we
refer to the category as a feminization of men. Well,
(32:01):
why is it a category because franchising can backfill. We
have testosterone brands, right, we have every brand involving the
use of tools. We have men's health brands, all of
that stuff. So anything evolving men and that theme, I'm
all in.
Speaker 3 (32:16):
And it is ai resilient. Second category, the Silver Tsunami.
Speaker 1 (32:20):
Not only are we not having babies, but we're an
aging population, which is why Elon keeps banging the drum.
To repopulate, you have to have a young, healthy society
to care for your aging society. Look at Japan, it's
an ancient society. They're not getting married, they're not having children,
and the country is aging and their economy is basically
(32:41):
flat to negative.
Speaker 3 (32:42):
I mean, just look it up.
Speaker 1 (32:43):
It's crazy what's happening over there. The government is paying
people to get married, they're paying you to have babies.
They can't have enough and repopulate their great nation. So
that's what we're dealing with here. So the Silver Tsunami,
you have an aging US population. Anything of aving home care,
non emergency medical transportation, building ramps for the elderly, grab bars,
(33:06):
anti slip, assisted living, selling, renting, repairing, wheelchairs, mobility items.
Massive market, and now we're aging, we're not repopulating. So
what did we do next? We humanized pets and animals.
It's our third category, the humanization of pets and animals.
They're not dogs, they're not cats, they're literally family members.
(33:30):
I have a neighbor pointing out my window. Pay twenty
thousand dollars to do surgery on the dog that would
not live more than six months after surgery, and they
all knew it. But it's a family member, and you
will spare no expense to protect and help preserve the
life of a loving family member. And that's exactly what
he did. Twenty grand had surgery, dog died in less
(33:51):
than six months.
Speaker 3 (33:52):
We humanize them. It's one hundred and sixty billion dollar
market pet care, whether you're grooming them or them.
Speaker 1 (34:00):
Daycarring them, playing with them, training them, stopping them from barking,
selling them food, ton of money on godly amounts of money.
Speaker 3 (34:09):
Next category, public schools suck period, total failure. None of
these kids are ready for life.
Speaker 1 (34:15):
Anything evolving, youth enrichment, we're in huge category. And lastly,
you could see the theme. We're aging with it anything
anti aging anything, biohacking anything, beauty, vanity anything, botox, anything
to make a person feel better about themselves, healthier, NACS, peptides,
(34:37):
testosterone therapy. You can see how the loop gets closed
on the five. Those are the five that we focus on.
You have the longest runway, you have the greatest resilience
from AI threats, and again those are businesses that you
could become the disruptor and not the disrupted. And that's
really where we focus with our clients is brick and mortar,
(34:58):
non brick and mortar in those fire categories.
Speaker 2 (35:02):
Wow, that's super interesting. Thank you for running through those.
What about climate? Like you know, things like I just
listened to something amazing on solar and how we could
we could go absolutely creezy like Germany and Australia are,
but we're not because we have too many regulations around things.
But but yeah, is that a category.
Speaker 3 (35:21):
Or now that there are solar, there are charging state.
It is a very niche category.
Speaker 1 (35:28):
There's not a lot in it, but people, you know,
like look at batteries plus bolt right batteries plus was
let's do all led Let's get rid of incandescent, let's
be energy efficient. That business model has taken on a
life of its own. We do have some solar brands,
but it's not, at least not in my world.
Speaker 3 (35:49):
It's not as popular.
Speaker 1 (35:51):
The average investor for US is looking for something that
we refer to as asymmetrical, low investment, high margin, very
fast break even, requires as few employees as possible, and
highly scalable, recession resilient, so on. Right, So that's kind
of what we look for, is making sure we're checking
(36:12):
a lot of boxes for today's highly educated consumer. Think
about the technology the average person has at their fingertips
between GROCK between you know, I think it's genesis, between
chat GPT. Think about the technology and how quickly you
could get up to speed and just say, you know
(36:33):
best something to do. Then we come in to true
it up and make sure that it marries properly with
the client.
Speaker 2 (36:40):
So well, and you know we're we're almost out of time, sadly,
But tell me a couple of things that make a
good franchising. You did before, but it I mean two things.
One investment wise, you know, what's a minimum amount of
person ut in.
Speaker 1 (36:59):
I tell people don't even think about franchising if you're
not willing to put up at least one hundred thousand
of your own capital, non borrowed. I put emphasis on that,
that's your liquidity, it's your skin in the game. In
addition to that, you will need some debt, and the
debt can range from another fifty to one hundred and
(37:19):
up it. But if you set to me, home care
seems simple caring for the elderly.
Speaker 3 (37:25):
You're talking one hundred and fifty thousand to buy a
brand like that.
Speaker 2 (37:28):
It's also not simple that I know from knowing a
lot of people, and maybe it isn't a franchise level
for people starting your own health care or home care businesses.
It's finding the caretakers. That's the trick.
Speaker 3 (37:39):
When I you're one hundred percent right.
Speaker 1 (37:41):
When I met by Simple is no vehicles, no brick
and mortar, no construction, no site selection. Yeah yeah, Like
I'm just gonna buy it and I'll start caring for
the elderly.
Speaker 3 (37:50):
But you're right, the biggest issue with that business is staffing. Yeah,
you're one hundred percent right.
Speaker 2 (37:55):
This is so interesting. I actually want to call you
I and I want really want people listening to recognize
the fact that if this is like, if any questions thoughts, ideas,
light bulbs are going off in your head right now,
I mean, go to prenocity dot com and set something
up with you because it you're really kind of energizing
(38:17):
me about the opportunities and and they you know, it's
it's really a new day with opportunity at the same
time that a lot of other opportunities are going away,
So it's it's a little bit of a lifeboat in
my opinion, if you if you have some and speaking
of having some cash, and I guess this will probably
(38:39):
be the last question I can ask today, But what
if somebody is thinking, well, my money's all in my
iris or my four ohn k, is it worth it
to pull some of that out and do this? What
would you? And that's a big question, but just like
off the top of your head, any thoughts.
Speaker 1 (38:56):
So I'm a I'm a former investment banker, and I'm
a huge fan of what's called an robs. No one
ever asked that question, and no one actually knows that
it's a viable tax strategy, so really quick, it's called
an robs. It is not a self directed era. It's
a rollover as business startup.
Speaker 3 (39:17):
That's what it stands for.
Speaker 1 (39:19):
It was affectionately named by the IRS and a white paper,
stupid name, but they named it and Robs A robs
and it allows you to take money out of any
qualified plan four three B four fifty seven IRA, steps
simple and so on. It allows you to take any
money out of there dollar for dollar.
Speaker 3 (39:38):
Here's the key.
Speaker 1 (39:39):
You avoid federal, state, and early ritual penalty when you
do it, So don't let your broker tell you can't
do it. This has been on the books, Michelle since
nineteen seventy four, this tax strategy.
Speaker 3 (39:51):
This is not new.
Speaker 1 (39:53):
This has been around since nineteen seventy four under the
Employee Retirement Income Security Act ARISA right a risk a law.
Speaker 3 (40:01):
Everyone that's in a four one K. Here's the thing.
Speaker 1 (40:03):
If you currently work at a company, you can't use
that money because you're you're gainfully employed with a company
where your four one K is so well, then how
do I do it?
Speaker 3 (40:14):
You have to leave that company or use.
Speaker 1 (40:16):
An old four K or an old IRA that you
have a fidelity or you know, Merrill Lynch or whatever.
But you could use dolph a dollar. I want to repeat,
it's a zero taxable event. If you have one hundred
grand in your IRA, you can move one hundred grand
dollar for a dollar, avoid federal state and early withtrol penalty,
and invest in the business and still maintain tax deferred status.
Speaker 3 (40:40):
If you sell that business for let's say two hundred.
Speaker 1 (40:42):
Thousand dollars, remember you put up one hundred He's dell
for a two hundred. Two hundred grand goes back into
the IRA tax deferred, so you still maintain you're investing
in you instead of investing in companies and mutual funds
and stocks and bonds. You're investing in you now. And
you're saying, I'm going to buy a franchise, but really quick.
I know we're out of time, but I have to
say this because I love the tax strategy. If I
(41:05):
asked you right now if you had one hundred grand
in your checking account, you're like, yep, I got one
hundred grand in my checking account.
Speaker 3 (41:11):
Okay, what's in your IRA?
Speaker 1 (41:13):
And you say to me, I have one hundred grand
right now in my IRA. I would look at you
and say you do not have one hundred grand in
your IRA.
Speaker 3 (41:22):
You say, yes, I do.
Speaker 1 (41:23):
Here's my statement says one hundred grand seventy cents on
the dollar is yours at maximum maximum seventy cents on
the dollar depending on what state you live in with
a high state income tax on top of federal income tax.
So I love the idea of buying businesses with the
state and federal government's money to speculate to accumulate wealth.
(41:48):
If I lost one hundred grand in my checking account,
that is a hard dollar, a hundred gone. I lose
one hundred grand out of my IRA. At best, it's
seventy grand that I lost. Yeah, see the logic, And
once your money's expanded by new ideas, it doesn't go
back to its original shape. And that you know, you're
all about money creating money, creating wealth is all about
(42:08):
being tax efficient and understanding what money to use, what
levers to use, what leverage to use. And a lot
of people don't understand that, and that's why they need
an advisor to say, why would you use one hundred
grand from your IRA, from from your UH, from your
checking account? WHOA, my husband, I are comfortable with it.
Let me show you a tax strategy that'll blow your mind.
Speaker 2 (42:29):
Love this really really huge important information.
Speaker 3 (42:33):
Thank you so much, My pleasure and.
Speaker 2 (42:36):
This was fascinating. I mean I could talk to you
all day actually, and there's so much more and tell
us your podcast so people can listen to you.
Speaker 1 (42:42):
Yeah, it's very thank you for that. It's very different
from yours. Right, you're you have your niche, so I
don't I don't feel we compete. I only interview founders
of franchise brands. And it's called pursuit of profit. Okay,
so pursue of profit. And again, if you listen to
our show, you're only listening to founders of franchise brands.
Speaker 3 (43:03):
And by the time.
Speaker 1 (43:04):
You listen to one, two, three, four episodes, you get
an idea of the questions investment, right, how do you
acquire customers who you're disrupting?
Speaker 3 (43:13):
And so on? Like we just brought a woman on
the other day that did self tanning. You know they're
killing it. They're absolutely killing it.
Speaker 1 (43:19):
He's self tanning, all vegan, all organic, all clean. Just
there's always something cool coming on the show. And again
you're getting it straight from the founders. So it's a
unique show. But it's a it's a niche show. It's
not as broad as, let's say, a show like yours.
It's only for people that are really inched it in franchising.
Speaker 2 (43:37):
Oh, I love it. Okay, what's your what's your favorite franchise?
I won't.
Speaker 3 (43:43):
That's a tough one.
Speaker 1 (43:45):
Let me leave it at Chick fil A because you
can't buy it right now, I'll leave it.
Speaker 3 (43:48):
I mean, there's there's four thousand brands.
Speaker 1 (43:50):
Yeah, but if you said to me, what sector do
I love the most, I'm in love with my category
of five.
Speaker 3 (43:55):
But my love would be anything evolving the use of tools.
Speaker 1 (44:00):
People don't understand the force multiplying effect of being in
a business that requires tools and a culture that told
for the last two decades, go to college.
Speaker 3 (44:12):
Forget the trades.
Speaker 1 (44:13):
There is an ungodly amount of money to be made
in the trades, and they are ai resilient for now.
Speaker 2 (44:20):
Yeah yeah, yeah, okay, Well, and I'll tell you mine.
And I only know a few, and maybe I had
ten in the top of my head. But my favorite
right now is the now Massage.
Speaker 3 (44:29):
Oh wow, love them. Well, they're in California.
Speaker 2 (44:32):
They're so great.
Speaker 3 (44:33):
Yeah, no, sheet rock, canvas walls. I would love the model.
Speaker 2 (44:37):
Yeah, it's great. Well, wow, Cliff, thank you. I loved
having you on the show. I actually I love to
have you back sometime, but I also would like to
learn more from you about this. You really seem like
you're pretty cutting edge on this whole franchise.
Speaker 3 (44:51):
I appreciate it. Thank you. Yeah, reach out if you
want to talk anytime. There's no question. Fantastic him on
here just to be on the show, and I appreciate
the invitation.
Speaker 2 (44:59):
Yeah. Now this is great, really really great. So thank
you and thank you audience for listening to the show.
I hope you loved it as much as I did.
And if you have some friends or family who need
to hear this show, please forward it and share it
and give us a like or a review on any
of the podcast platforms or my Limit Prey Life YouTube channel.
(45:21):
And thank you so much for listening. We'll see you
next week.
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