September 16, 2024 • 42 mins
Ready to unlock the secrets of transforming your side hustle into your main hustle? Join us on Side Hustle City as we sit down with franchise expert James Hilovsky, who reveals the powerful potential of franchise ownership. Whether you're a professional athlete looking to pivot careers or simply seeking a new way to generate income, this episode offers invaluable insights. We cover everything from the benefits and challenges of different franchise models to real-life success stories, like a former athlete who found his calling in a family-run dog grooming business.
Curious about how athletes can parlay their fame and resources into smart franchise investments? Listen as James takes us through his remarkable journey—from a regional director in the fast food industry to a pizza restaurant franchise owner, and now, a consultant for NFL players looking to expand their portfolios. With practical advice for generating a $250K income through proven franchise systems, this episode is packed with actionable steps. Discover how leveraging networks, supportive franchise systems, and strategic investments can pave the way to financial success.
Ever wondered how busy professionals can benefit from franchise investments? This episode delves into opportunities specifically tailored for athletes and business owners. From luxury service businesses to gyms and mental health franchises, we explore how robust support systems can ease the operational burdens. Featuring inspiring examples of athletes transitioning into passive franchise opportunities, we highlight how strategic investments can secure financial futures. Tune in and learn about our mission to engage with universities to educate young athletes on the exciting franchise opportunities awaiting them.
As you're inspired to embark on your side hustle journey after listening to this episode, you might wonder where to start or how to make your vision a reality. With a team of experienced marketing professionals and a track record of helping clients achieve their dreams, we are ready to assist you in reaching your goals. To find out more, visit www.reversedout.com.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:04):
Welcome to Side Hustle City and thanks for
joining us.
Our goal is to help you connectto real people who found
success turning their sidehustle into a main hustle, and
we hope you can too.
I'm Adam Kaler.
I'm joined by Kyle Stevie, myco-host.
Let's get started.
All right?
(00:24):
Welcome back everybody to theSide Hustle City podcast.
Kyle in the studio today.
Speaker 2 (00:30):
Wow, finally Sitting right here, finally had one that
I can make.
Yeah, there we go.
One of the worst co-hosts inthe history of entertainment.
Speaker 1 (00:39):
Well, it's fine because one of your favorite
subjects is about to be talkedabout today, because we've got
james holofsky on the show.
He is a franchise expert, workswith a bunch of athletes,
helping them uh get some moneyafter they, uh, their, their
career ends.
It may not be the the moneythey think they're going to make
, based on what their currentsalaries are, uh, but it's uh.
(01:02):
You get enough of them andyou're doing okay, right,
absolutely, yeah, you get.
Speaker 3 (01:04):
And you're doing okay , right, absolutely.
Yeah, you get enough.
You're doing okay, that's forsure.
Absolutely.
Speaker 1 (01:08):
Well, james, I appreciate you being on the show
today and I love this subject.
Kyle loves this subject becauseKyle's actually thinking about
maybe picking up some franchises.
Speaker 2 (01:15):
Well, yeah, like the the, the, the conversation
that's going on in our houses.
Our kids are getting older andyou know my wife they can work
for you.
Yeah, well, they could.
Speaker 1 (01:27):
Yeah.
Speaker 2 (01:28):
They probably like it .
Well, cayman would still wantto do the construction side of
it, but Elijah would definitelywould want to work for us.
The thing is is that Allison'sdoesn't have to be a stay at
home mom anymore and she's beendying to do something where she
could handle her own businessand take the money and reinvest
it in a way that she saw fit,which is she wants to buy cabins
down in the gorge, which is astate park here in Kentucky
(01:50):
that's pretty, pretty heavilyvisited from people from greater
.
Cincinnati, um, in differentparts of the state of Kentucky.
Go there and they have they'rereally building up the area to,
you know, glamp.
So you have these nice cabinswith hot tubs, and she just
wants that.
She wants to have a place likethat where she can go.
It's two hours away from home,but she also wants to be able to
get a lake house in a place wego into, a North Carolina, as I
(02:13):
will.
Money doesn't grow on trees,buddy, so you better, you better
, figure this shit out.
Yeah, and I thought that in.
Well, this is that you work.
Now you have your money to dowhatever the hell it is you want
to do with it, and you use thisto build your wealth.
Well, you know, like we're in aposition where we don't need to
(02:34):
use this to pay for ourmortgage or our cost of living
or anything like that.
This is, this would be extramoney.
Speaker 1 (02:40):
This would be retirement money you could kind
of put away if you wanted to ordo big things with it.
Speaker 2 (02:44):
Yeah, or something that Chit Shoe might be.
It might turn successful Likehe was.
We were talking off air hereabout one of his clients that
they said well, if one of therevenue from one of them isn't a
good enough for you, let's dothree of them.
That's right.
Speaker 1 (02:58):
That's right.
Well, james, you're going totell us all about it, like, what
are some of the franchises thatyou seem to like the most?
I know there's a um, you knowthere's.
There's a lot of people outthere.
Speaker 2 (03:10):
They're different personality types, some folks
you know are hands-on, startwith like a typical process.
Like somebody contacts you,they contact you.
Speaker 1 (03:19):
Sorry, not though no, no, this relates.
This relates becauseeverybody's different about what
they want out of a franchise.
Speaker 3 (03:25):
Yeah, yeah, definitely.
So when someone contacts me I'mgoing to tell them hey, let's
talk about what your goals are.
Why do you want to get into thefranchise business?
It could be many differentscenarios.
Just backtracking to what wewere saying earlier was I had a
(03:46):
guy that was played for theAtlanta Braves, was the number
one draft pick but neveractually made it to the show,
but he was a triple A worldfirst player, he.
He then retired from the gameand he got into corporate
America and his family isgetting a little bit older the
wife and kids.
The wife doesn't want to be astay-at-home mom anymore and
(04:08):
he's like well, I don't reallylike corporate America, I kind
of want to transition out of it.
So what he did?
He got into a dog groomingbusiness to where the wife's
going to run the day-to-day.
The kids are going to help out.
He is also going, you know,when I get to unit number three,
I think that's when I'm goingto transition out of my job and
(04:31):
into it.
So the family's going to buildone and two, he transitions out
for three and then they go fromthere if they build more and
just keep on adding on.
So there's different ways toapproach it.
So we talk about approach gameplan, what the athletes are,
owner operators, because theystill are playing or they don't
(04:53):
really have the time they wantto get a manager to run the
day-to-day.
So we talk about owner operatorpassive model, what kind of
investment we're looking at 200Kor below, 200k or above, and
what are the goals of it andwhat are the industries that you
like and I have over 500 brandsthat I represent that I can
(05:19):
help find the right fit for them.
I will say you know everyonekind of goes, oh, shaq, and the
restaurants and restaurantindustry is great at it.
Well, my background before Idid do this was in the
restaurant business.
I don't really recommend thatfor somebody who doesn't got
into the restaurant business.
They would have to have a greatteam and it's one of the
(05:41):
highest investment levels outthere in the franchise world and
it's one of the most riskiestones and your margins are 10, 15
percent as opposed to.
I could get you into doggrooming for 200 K a unit and
get you 30, 40 percent marginsand your money's back within the
first year.
We do that all day long over arestaurant.
(06:02):
Yeah, within the first year, wedo that all day long over a
restaurant?
Speaker 1 (06:04):
Wow, yeah, and most restaurants, I mean especially
you know the the more I guess,employee intense restaurant
types, not like a Dunkin Donutswhere maybe you need two or
three people there I'm, you knowbigger restaurants, things like
that, and restaurants arealways known as kind of a bad
investment anyway.
Speaker 2 (06:22):
Like 60 percent of them tank in the first year.
Speaker 1 (06:25):
Yeah, but like a Dunkin'.
I mean you're selling coffee.
There's usually higher marginsin coffee.
I think the average Dunkin'owner brings in maybe like
$100,000 or something net afterit's all said and done, which
you'd think it'd be higher thanthat.
Speaker 2 (06:36):
Well, I have three commercial buildings and they've
all got some sort of foodservice in them.
Speaker 1 (06:47):
I have no idea how that happened.
It just they just did it, justit just happened.
Well, we got commercial kitchendown the basement.
We got a lady making you know amillion plus down there, uh,
you know, doing catering.
But what are some of the topthings you see right now, like,
say, say somebody came to youand you didn't know him from
anybody you know, cause we don'tknow who's listening to the
podcast right now.
You didn't know him fromanybody.
What would be the five, saybusinesses or the tight
industries that you would kindof put people into right now?
Do you think?
Speaker 3 (07:08):
Well, definitely the pet industry.
Slot margins are great.
So anything in the pet industrycomes to dog grooming, dog
boarding really great strongmargins, one where you use you
can get a manager to do theday-to-day so you don't have to
be the owner, operatoroperatorof it.
That's a really good one.
Health and wellness is reallybig.
(07:31):
So IV hydration, iv bars, redlight therapy, muscle recovery,
all very high margins and verysought you know, sought out
businesses for sure.
So that kind of the health andwellness dog, you know, dog
grooming definitely are one.
It depends on the area but youknow there's a lot to be just
(07:57):
you wouldn't even think about it.
But it would be window washingreally high margins and window
washing there is somecompetition but you could do
very well in that.
As well as the home servicemarket, hvac very high margins
in the HVAC industry.
As well as car industry.
(08:18):
You do have car accessories,bed lining and trucks of stereos
and and window tinning verystrong margins in there as well.
Speaker 2 (08:30):
I mean, you seem like you.
If you're, you've gotprofessional athlete clients, so
it seems like you're prettywell connected.
How did you get started in thisLike, how did you become the
point man for all theseprofessional athletes that's
come say, hey, I don't want tobe on the 30 for 30 broke
episode two.
I want you know, I want to makethis income for the rest of my
(08:51):
life and I'm going to have to doit through you know business,
my own business, and I don'twant to run the risk of starting
something from ground up and itfails.
I'd rather have somethingthat's already cash flowing.
How did you become that person?
Speaker 3 (09:05):
Well, I wish I was that person for all of them, but
it was definitely a little bitdifficult.
My career was in the restaurantindustry, was a regional
director for a fast foodrestaurant, went into a pizza
restaurant that had one unit andthey decided to franchise.
So I helped build that over toa hundred units.
(09:26):
So then the largest franchiseeof that company said, hey, come
work for us and and help me runmy system and my restaurants and
let's do a couple morefranchises.
Turns out they were two NFLfootball players that own the
own the franchise.
They were brothers and they wedid.
We did our.
We did our pizza restaurants.
We did another ice thefranchise they were brothers and
(09:46):
we did our pizza restaurants.
We did another ice creamfranchise.
We did our own coffee shopmodel and we did our own dough
creamery.
Then one of the brothers retiredand the other one got hurt,
couldn't fulfill the rest of hiscontract, and they decided, hey
, the restaurant business istough.
We all kind of decided that.
They decided they were going togo into the tequila business
(10:06):
and I have nothing against thetequila business, they're doing
very well.
It really wasn't my expertise.
So I decided I was going to gointo the franchise world and I
always being around the brothersand the athletes, I saw all the
people, even their best friends, would just try to get them
into invest into the craziestschemes you could even think of
(10:28):
out there.
They just kind of money grab.
And I just said you know, when Ido this I want to focus on
athletes.
Believe me, I love all theprofessionals that are out there
, love to help them get out ofcorporate America as well, but I
also wanted to help theathletes to where they can make
really good investments andsmart choices on franchise that
I showed them.
(10:49):
So I didn't want any.
You know I'm tired of peoplethat were taking advantage of
them for sure.
So from my relationship withthe brothers I knew some people
athletes that are out there andjust kind of built that network.
I go on a lot of celebrity golftournaments where I meet some
athletes and do speaking aboutfranchising and it's always very
(11:10):
well received there.
So I'm always kind of branchingout and seeking, you know, more
athletes on a daily basis, ofcourse.
Speaker 1 (11:18):
Well, kyle is a you know, he's a first round draft
pick of the freight brokerindustry.
I would say at this point inhis career.
If, if there was a draft, kylewould go like one or two, maybe
three.
I mean, if you know there wasan injury or something, he might
drop as low as three yeah, I'dbe like the ryan leaf number one
, number one draft pick type alittle combustible he might slap
(11:41):
us.
Speaker 2 (11:41):
I might slap a reporter and yell at him in the
locker room.
Tell him to get out.
Speaker 1 (11:49):
Look, James, he'd have to tear his ACL at the
beginning of the draft to dropas low as three.
Speaker 2 (11:51):
That's how good Kyle is In real life.
I tore my meniscus in my otherknee, so I tore it.
I had a surgery right beforeThanksgiving and now I have it
again in my other knee.
There you go.
Speaker 1 (12:01):
Well, if his MMA career.
Speaker 2 (12:03):
Yeah, I think jiu-jitsu's done.
Speaker 1 (12:04):
If his jiu-jitsu ever takes off, James, he's going to
be coming to you.
He's going to need it.
Yeah, when he's like one of thetop 10 MMA fighters in America.
Speaker 2 (12:14):
I just want to go for sanity.
I want to.
If I were to do it, it would bebecause I want to replace my
income and I want to be thecharge of my own destiny with
something that's already beenproven to work, Like it was
something with a, with a trackrecord, and it's like just go
Well, say say, kyle's making Idon't know 250 a year right now,
(12:35):
right before taxes, and hewants to get out of this
indentured servitude he's in uh,even though he loves his
company.
Speaker 1 (12:42):
What?
What would you tell hey man,here's what you need to do,
here's how much money you needto have, here's how much money
we need to find for you, maybeSBA loans 7A or something like
that.
What would you tell Kyle?
Speaker 3 (12:55):
So if we're looking at we want to make $250,000, I
would tell Kyle one thing is andI'm picking it on it pretty
much you want to replace theincome.
So let's look at investments inthat vein.
If you went out and bought realestate and tried to flip houses
because that's what everybodythinks is so easy to do, it's
(13:15):
risk-free which it's not easy.
It's not risk-free but the realestate market's a long play,
which it's not easy.
It's not risk-free, but thereal estate market's a long play
and it doesn't replace anincome.
I mean, you're not going to buyone property replace your
income In the franchise world.
You're going to go to a provensystem that an athlete or CEO or
business person they're goingto give you the playbook to
(13:36):
follow, so your chances ofsucceeding are much greater and
they're going to give you thatongoing support as well as all
the franchisees in the system.
You'll be able to call the guydown the street and go hey, I
have this problem.
He goes yeah, I had that myfirst year too.
Here's what you do.
So you really got a reallygreat network.
So let's just say, well, that'skind of the the, what we want
(13:59):
to replace about 250 K income.
Let's just, I always go becauseit's hot right now.
I always go.
Well, you like pets?
Let's.
Let's look at the dog groomingindustry.
We could get one unit about forabout 200 K total investment
all in and I would say that youprobably could do about 200K and
(14:23):
above on that one unit.
But maybe if we want to replacethat salary, let's look at two
units.
So we're looking at aninvestment of 400K that we do.
Let's look at going to SBA loan.
If we want 400K, we probablyneed about 20% of that in liquid
cash, 20 to 30% that we canshow the bank that we have skin
(14:45):
in the game.
And let's get our SBA loan andlet's look at doing two units.
And the great thing about acouple of the dog grooming
concepts out there is they havereoccurring revenue.
One of them does $45 a dog,unlimited times.
They can bring it in a month.
So you're blowing away yourcompetition right there and
(15:06):
typically that one.
If you get up to 500 dogs,you're making 300 K profit per
unit.
Speaker 2 (15:13):
So are you able to then, if I, if we go to you and
we're like, all right, I likethis dog grooming idea, but the
city that I live in is prettywell to do and there are a
thousand for a city of 25 000people, there's probably 10 dog
grooming area, like companies inmy, in my little city there.
Are you able to say, okay,that's fine, so, but this
(15:36):
geographical area here only hasthis many dog grooming
facilities or companies per10,000 people.
This is where we would put youanyway, or is it something like
it's up to me to find a location?
Speaker 3 (15:48):
No, the franchise, the franchisor, usually has all
those good stats.
I have some of them available.
I have some of them available.
I always like to refer theclients to the franchisor
because they have the stats andthey know the exact demographic
that they're looking for.
So they're the experts fortheir customer.
So they will have thedemographics around of going hey
(16:10):
, yes, we do think it would be agreat area, even though there
might be two or three in there.
We think we have a good enoughmarketing strategy to overcome
that and that's a great thingtoo.
Of, hey, if you're talking withthe franchisor and you kind of
get that doubt, well, I reallythink I'm saturated.
Well, let's look at somethingelse.
Let's look in the health andwellness area and let's go into
(16:33):
an IV bar that does a, that doesum, chiro therapy in it and red
light therapy Uh, I think thatwould do really well in there.
Uh, you know all in onebuilding.
So the, the, that that would goreally well.
Or let's do a uh, if there'skids events and kids sports,
let's do a muscle recoverystudio that works on recovering
(16:57):
kids muscle recovery tapes,their ankles before events.
We have a mobile unit that goesout to soccer tournaments,
basketball, baseball events.
We do composite boots formuscle recovery, we do cold
compression therapy as well, aswe have red light as well.
So many different ways we canattack and look at a specific
(17:18):
area, and also, really, it's upto the client to go.
Yeah, I'm really passionateabout this.
I think this is a great fit forme.
Speaker 1 (17:25):
Yeah, especially athletes, I would think with the
red light therapy and some ofthe stuff you just talked about.
Now here's a good question.
So my wife already owns abusiness and there's probably
other people out here that areown.
You know they own a business.
She just does facials on womenright now.
This is just she.
They come in, they get facialsboom out, right.
(17:45):
You know, with the economicdownturn, these facials, you
know an hour session could belike 400, right, and they leave
with products and things likethat.
So if she wanted to kind oftake that business right she
she's got that core businessalready.
Is there a way for her to tackon a franchise in the health and
wellness space that works withwhat she's already doing?
(18:06):
That she could then sell to hercurrent client base but they
could also bring in this otherrevenue stream like a red light
therapy or something therapy orsomething.
Speaker 3 (18:20):
Yeah, absolutely, she could easily do that there.
You could.
You could add a franchise intoan existing business.
Definitely.
I'd probably say maybe you knowhair extensions would be a
great business.
To add onto that, there's ahair extension franchise in
Phoenix that's doing a milliondollars a year just hair
extensions, just because there'snot a lot of people that do it
(18:42):
right and do it the right way.
So, yeah, there's definitely alot of add-on business For a
salon.
Speaker 1 (18:48):
That would be amazing if you're not already doing
hair extensions.
And then the idea is that thesefranchises are sending you
business, so they may have awebsite somewhere where or
they're helping you with searchengine optimization or local
search or some of these otherthings.
But talk a little bit about howdoes being part of a franchise
(19:08):
actually help you from a, like,a client acquisition perspective
?
Speaker 3 (19:13):
So, like the franchise, support from a client
acquisition, definitely yeah.
So let's, let's see we have afranchise that does.
There's a three-in-onefranchise out there that does $7
million a year.
They do tree trimming, they dolawn care not mowing lawns, but
lawn care, treating lawns andpest control.
(19:33):
So that's the franchise, theydo three-in-ones.
They actually do all themarketing, social media for you.
But they also have a callcenter where they have someone
that getting back to the clientsbooking appointments for you.
So those are some things tolook for if it's a client-based
(20:05):
acquisition company that you'relooking at.
They definitely help with leadgen because they know sometimes
lead gen is everything andmarketing is everything to get
in business is everything andmarketing is everything to get
in business.
So a lot of them are definitelyon the lead gen marketing game
and, and how you know, callcenters out there for you
marketing.
All of them have marketingprograms that that are intrude
(20:28):
and and tried and put throughthe fire of of ways that work
for them.
Speaker 1 (20:32):
Well, see, cause it makes sense, like for my wife.
So she already owns herbusiness, right, but she's got
to do her own lead gen.
Now, right, the economy's down,people aren't spending a bunch
of money on luxury businesses.
You know, rich people are thefirst ones to start cutting back
because you know they're smartabout their money.
Right, and you've got apotential opportunity.
If you already own a businesslike that in the beauty care
(20:53):
industry, there may be afranchise she could tack on
that's doing lead gen out therethat could send her clients for
a completely different thing Redlight therapy, say.
They come in for a light therapyand then they start using her
other services as well.
So they could send you a clientthat's typically worth, you
know, maybe $10,000 over thecourse of a year.
(21:13):
That turns into a client that'sworth $30,000 over the course
of a year in the luxury space.
I mean these, uh, she's got oneclient to spend 60 grand a year
with her.
So the circles you run in, yeah, well, I mean yeah, the circles
you run in.
So they're the circles that youoh well, yeah well, her she's,
she runs in those circles I runwith hood people, but so she, so
she's.
So she's bringing um.
(21:34):
You know she's bringing inanother business that's actually
doing the lead gen and all thatwork for her.
But those clients are worth waymore to her than just red light
therapy.
They could potentially level upand become clients that want to
get facials once a month.
Speaker 3 (21:54):
Sure, and I've had clients that have had some
certain exact scenario, kind ofwhat you're explaining, and
they've done where they've hadthe space next to them in their
business that's opened up andthey put a franchise right next
to it and it was.
It was almost like owning dualfranchises, because you're using
the marketing skills of this tothe one next door and still
drive you're driving bothbusinesses.
Speaker 1 (22:12):
She actually had the office next to her open up and
they busted out the wall and puta doorway in, and now she's got
a bigger space, so that wouldactually apply to her as up, and
they busted out the wall andput a doorway in, and now she's
got a bigger space, so thatwould actually apply to her as
well.
So, but then you got peoplelike me who and maybe some of
these athletes as well that Iown my own businesses.
I'm busy a lot.
I'm running for office rightnow here locally.
You know I've got a lot goingon, but I wouldn't mind making
an extra hundred grand a year,you know, and, and you know, I
(22:34):
could go out and get a loan andthrow it at a Dunkin' Donuts or
whatever and have somebody elseoperate it for me.
I don't think Shaq works atmany of the Papa John's
restaurants that he owns, butfor somebody like me, I'm doing
okay, but maybe I want to open afranchise and find people to
work there.
What kind of stuff's out therefor me?
Speaker 3 (22:54):
Well, mostly anything in any industry Like, we'll
have one client that is into agym.
So you would think, wow, you'regoing to have to put a lot of
time into this gym.
Well, not really necessarily.
If you find the rightfranchisor that's able to
support it, that's really goodin there you're looking at.
They help you hire the manager.
(23:15):
They help you hire the manager.
They will go through yourscreen, do the interview for you
and present the candidates toyou and go.
There's three to four differentcandidates that we really like.
Pick one.
So they help you hire themanager.
And now you're the athlete andyou really have to manage the
manager.
That really isn't going to beas time-consuming, that really
(23:41):
isn't going to be as timeconsuming.
But then also, the franchisor,in a way, is really dealing with
the manager on a day-to-daybasis.
Because if they have reallygood support in this particular
model, this gym franchise has afranchise consultant and all
this consultant does is look atall the numbers for the gyms
every day and see what the KPIswere Did you hit labor, did you
(24:03):
hit this?
And they're sending out emailsand text messages to the actual
manager.
So your franchisor is actuallyhelping you manage your manager
and do the day-to-day so youcould get a lot of support with
the with the right franchise ofhiring, of helping and policing
(24:23):
your own people and helping yourun your business.
Speaker 2 (24:26):
Yeah, I would assume that was that would be a big
part of the education iswatching how the franchise or
communicates with the management.
Cause I mean, I, I, I wouldthink that we would I would be
more hands off from the gig fromthe get-go, just because, a I
don't have the time and b Idon't have the knowledge to run
it efficiently compared tosomebody who's you know yeah,
(24:48):
like going to dunkin donuts.
Speaker 1 (24:50):
I just don't know how to run one.
Speaker 2 (24:51):
You know it's so it's like an education course.
So, like the, you're cuttingdown all your margin for error
and your your learning curvefrom.
So when you go from unit one tounit three, you know exactly
what your manager should bedoing.
You be, you can.
You can nip it in the budbefore you know corporate even
(25:11):
takes a look at your store orwhatever.
Speaker 1 (25:13):
That's right, yeah, and.
And I mean if, if or whatever.
That's right, yeah, and.
And I mean if, if, if it's likeme, just somebody who's already
owns businesses, or like youyou're working a full-time job.
I just want to make a littleextra money, it, you know, I'm
willing to go out and get an SBAloan, put it into there, as
long as the thing's going to netme maybe another 30 to $50,000
a year.
If I've got to pay a manager, Irealize you know they've got to
(25:34):
make money too.
But you know, if I'm netting 30to 50 extra thousand dollars a
year, that's nice, you know, andI could use that.
I could leverage that then tobuy another franchise.
Buy another franchise, you know, and then after a while you get
enough of them and maybe youhire this manager is like your
regional manager.
If you got two or three of them, you know it may not be a big
deal Pay them a little extra tomanage or oversee those other
(26:00):
two operations that you maydecide to buy.
But I mean, in that case, inthat scenario, say it's a
Dunkin' Donuts right, averageDunkin' Donuts person's making
maybe a little over $100,000 ayear, okay, if they had to bring
in a manager.
What does that reduce the netdown to that they would take
home?
Speaker 3 (26:14):
You're probably looking at $60K on average of
what you're paying the manager.
So you're looking for you knowyou got an additional $40K in
profit.
That's out there.
And then also one thing to keepin mind that a franchise a lot
of people do think if you're ina franchise, you are into that,
(26:34):
you can't sell it.
A franchise is your asset, it'syour business.
You can sell a franchise afterbeing in it two, three years.
If you got your money back andyou decide, you know what, I
don't want any more of this, Ijust kind of want to be done and
just retire completely, you cansell your business off it, even
though it is a franchise.
That's common practice and thefranchise will help you do that
(26:57):
right.
Speaker 2 (27:02):
Sell the Chick it is a franchise, that's, that's
common practice and thefranchise will help you do that
right.
So the chick, yeah, they helpmarket it and will help you do
that 100 your chick-fil-a innewport, the one you love so
dearly.
Speaker 1 (27:07):
I love it.
That was that just sold.
Did it sell?
Oh, I didn't know, but theowner can't, because the owner
never really owns it.
They're essentially like amanager, but maybe they sell
their.
Speaker 2 (27:15):
They sold something for seven.
Wow, that's not bad.
Speaker 3 (27:18):
Yeah, the owner never really owns a Chick-fil-A,
they're just a profit share intheir system.
Speaker 2 (27:24):
Maybe they had a share.
It was listed.
Speaker 1 (27:26):
Yeah, they like pay for themselves, a job is really
what it is.
Like you pay for a managementposition in a Chick-fil-A or
something crazy like that, butyeah, but I mean there's tons of
stuff out there that you coulddo and I'd be happy with you.
Know, I don't want to be greedy.
Speaker 3 (27:47):
I mean $30,000, $40,000 extra a year if I'm
paying a manager seems like akind of a no-brainer.
Yeah, oh yeah, and it reallyreally makes a lot of sense to
do that.
And, like you said you said itright Then you then you do
another one.
You know, build, get anotherterritory, get another franchise
, expand your territory.
And then you take that greatmanager that's been with you
from day one and you make themthe regional and you can build a
(28:08):
little empire of franchises.
Absolutely, that's a that's agreat way to go and a great
thinking of building uponbuilding.
You know, you really, yeah, youcan get into a franchise and
and only have one and that'sthat's great, there's nothing
wrong with that.
But if you have that long-termand want to build, I believe you
know multi-unit is the way togo.
(28:28):
If you, you should always gowith that first franchise, go.
Okay, when do I want the nextone?
You know what about what?
What point do I want that one?
Speaker 1 (28:42):
And it's probably good to stick with that same
group, I would guess, whateverthat is just kind of like.
I don't want to own a Duncanand a Wendy's.
Speaker 3 (28:45):
I probably just want to own two Duncans, right, right
, yeah, definitely would be onething to stay with.
Or you got into let's say yougot into the restaurant business
.
You have no idea what you werein for, but you're still making
pretty good money.
But it's going.
There's a lot of headaches.
Then look for another franchise, look for you know, look for IV
muscle recovery on that side,and then you'll go gosh.
Speaker 1 (29:08):
This is so easy to run when there's only one to two
employees compared to, you know, 20 to 30 at a restaurant, for
sure to 30 at a restaurant forsure, when I've always heard the
lowest failure rates are atthings like car washes, uh any
kind of um uh route for vending,uh, there's, you know, those
kind of businesses, laundromatsbut they seem to be hard to find
(29:30):
fedex does.
Speaker 2 (29:32):
Fedex does um the routes too like fedex like an
amazon route.
No like, oh for no like justlike FedEx, they'll have a
specific routes that they run incities because they're all
owner operators.
Yeah, so they'll sell theirroutes Just like a bread truck
guy would.
Speaker 3 (29:47):
Like a bread guy.
Yeah, like a bread guy.
Yeah, there's that out therefor sure.
That makes some sense as well.
You know, there's just manydifferent, different ways you
could go on a franchise.
There's also some franchisesthat do clothes, recycle clothes
, where they have bins all overtheir territory and then the the
(30:12):
bin actually has a chip in andgo, okay, it's time to come get
it.
And then you come and get theclothes that go out, and then
you take those clothes and gosell them to Salvation Army for
a profit or or or differentvendors like that as well.
Speaker 1 (30:26):
Well, I got married in Italy and we were in Milan
and I got a suit, made Milanright.
Well, we go past some of thosebins and there's designer
clothes stuffed in the bins,like pouring out of them, Like
what the heck am I doing Gettinga suit?
Man, I could just went in hisbin.
Look at all this stuff.
I mean you're in Milan.
It's like all designer stuffthey're throwing away, Like
Gucci.
Speaker 2 (30:43):
It wouldn't be the first dumpster I've been through
.
Speaker 1 (30:45):
Yeah, man, whoever's benefiting from that dumpster is
from that, from that clothesdumpsters.
They look great, like theirwhole outfits, nice and
everything.
But yeah.
So I mean, if I was looking fora franchise, I would say I want
something with like a lowfailure rate, something that's
in demand, maybe something abrand that's on its way up, like
I would have loved the DutchBrothers franchise, but then
they went corporate, theystopped allowing new franchisees
(31:07):
and I was in Colorado Springsand I went there and the line
was down the street and I'm likewhat is going on with this
place?
I need to own one of these andI looked it up it's too late.
Speaker 3 (31:17):
Yeah, yeah, they, they, they went all corporate
there's.
You know, the coffee is pretty,pretty a good demand for sure.
There's some brands out therethat are up and coming, and then
there's also a brand out therethat goes hey, you know what, I
will build you a coffee shop, Iwill give you the recipes, I
will give you the training, theopening, training, some support
(31:40):
in the end.
And all you have to do I'm notgoing to charge you any
royalties, all you have to do isbuy the coffee from me and
they're doing the build out forabout 250k and so that's cheap
because most coffee shops arebuild outs 500 to 800 K and
they're doing the build out for250 K and they're just like just
(32:03):
buy the coffee from you andthey have a vested interest
because you know they want youto be successful, because you
want they want you to buy thecoffee from them.
So it's kind of a win win.
You get it with.
You still get the support.
You get the nice reduced costof building the building.
Uh, you still get the support.
You get the nice reduced costof the of building the building
and, uh, you know, you stillhave that support I love it, man
(32:24):
.
Speaker 1 (32:24):
So what are some of the um, your favorite passive
type of franchises you wouldrecommend right now for people
like, say, an athlete, right,what would you recommend to them
?
I mean something in sports,health fitness.
Probably, if it's an athlete.
Probably if it's an athlete,yeah.
Speaker 3 (32:39):
So if it's an athlete , we are again, I keep saying
this but we're going in the doggrooming area passive, have the
manager run it.
We either do that.
We either do boarding.
We are doing the IV driptherapy.
We're doing some gyms Believeit or not some really good
passive gyms that provide greatsupport that can do that.
(33:01):
We're going to do, obviously,the muscle recovery.
I've had some athletes that havejust said, for instance, this
one athlete.
He owned his own wine companyand he was tired of it.
He's just like you know, it'snot really my passion.
So we looked at some differentfranchises and he said you know,
(33:23):
I just think I'll stick with mywine company.
And I said, ok, well, you knowwhat we could try looking at
some different things.
And next day he calls me up andgoes I got it.
I know what I want.
I want a franchise that dealswith mental health issues of
addiction issues, and you knowthat's the kind of franchise I
want.
So we went out and found a oneand he wound up signing with
(33:47):
them three unit deal and hisgoal is that, once he gets these
three up and running, is to putone of these in every NFL city.
Speaker 1 (33:55):
That's out there Interesting and put his name
behind it and do a littlepromotion, especially if you've
got a brand, if your personalbrand is already out there.
That's something that you'repassionate about.
People love those stories.
Athletes with these, you knowpassion projects that want to
help the community.
I mean that's a great story.
Speaker 3 (34:19):
Yeah, and then we have one athlete.
He is an ex-NBA basketballplayer.
He does a lot of littlebusinesses, involved heavily in
a charity.
He wound up getting a weddingdress company to where it's a
franchise, to where they don't.
Brides come in, they get fitted, they take the measurements and
(34:44):
they then they ship it back.
So you don't have a lot ofinventory at the shop and the
wedding dresses, bridesmaiddresses, are sent into the shop
and you don't carry thatoverhead.
And I mean they're doing amillion dollars a year.
Speaker 1 (35:00):
Wow, I could do one of those.
We're in a wedding, I own abuilding and we're in a wedding
district right here.
I could probably uh, we couldturn that upstairs into a little
wedding dress place.
We can do that, yeah, so that's, that's awesome.
I mean, you know what I wouldsuggest.
I mean, maybe you're alreadydoing this, but I'd love for you
to go into some of theseuniversities with these kids
(35:21):
that are getting these NIL dealsand have them take some of that
NIL money instead of going out,buying a sports car with it or
something silly, get injured or,you know, they don't end up in
the NFL or whatever.
Well, here you are, with, youknow, two franchises out here.
(35:42):
You know, doing exactly whatyou're saying, Some of these
things that they you know mightbe passionate about already.
Or, because you're an athlete,you know that that lends your
skills and your experience tothat business.
I mean that that would beoutstanding.
You should come here to theuniversity of Cincinnati and
talk to some people around here.
Speaker 3 (35:55):
Yeah, oh, heck, I would love to do that.
It's kind of funny that yousaid that I actually was
thinking about that and some,some players were talking about
that, and I actually had someonefrom um university of, for Cal
plays on the football team thatapproached me and says I have
some money and you know, I kindof think I want to want to do a,
do a franchise, and uh, sowe're, uh, we're trying to help
(36:18):
him get a find the right fit forhimself.
Speaker 1 (36:21):
I love it, man, wow, and I love your niche.
Like you've gotten into this.
You know you're you're doingfranchises.
You obviously know a lot aboutfranchises.
I mean it sounds like anybodycould come to you.
But this target going afterthese athletes I mean these
could create some really goodstories for you, because people
wonder what you know guys aredoing after you know they
finished their careers.
Like you know what's PokeyReese doing right now?
(36:43):
Is he?
Is he got some franchises?
Is he like that'd be a coolstory, like let's follow up on
this.
Guy played for us for a bunchof years and now he's.
You know he owns eightfranchises thanks to you know
Franchise Dream here.
Those are really cool stories.
Speaker 3 (36:57):
Absolutely.
And the stories we don't wantto hear is when you know you
talk to someone who is draftedthird overall in the NFL and you
talk to them and they go youknow I'm out of money.
I mean I don't have any moneyand you're just your heart cares
for them.
That, uh, you know they hadsome people that made some bad
investments for them and theyare just um, you know they're,
(37:21):
they're chasing any kind ofmoney they can get.
It's.
It's very sad at times.
Speaker 1 (37:25):
Yeah, that's.
That's terrible, but you'redoing it, man.
And the URL for your websitethefrandreamcom.
Guys, you should definitely gocheck that out.
James has a lot of really coolstuff out here and I'm serious,
you need to come to Cincinnati.
We got all these Xavier's here,uc's here, Northern Kentucky
University, dayton I mean,there's so many colleges around
(37:46):
here, an hour away from.
Speaker 2 (37:47):
Kentucky.
Speaker 1 (37:48):
Kentucky, an hour away from Kentucky, louisville's
an hour and a half, ohioState's an hour and a half.
I mean you got.
This is like college centralhere and a lot of athletes.
It's amazing.
Yes, yes.
Speaker 3 (37:57):
And I just love.
Last time I was out there itwas a while ago, but they were
just redoing, redoing thefootball field and it was
looking amazing, yeah, amazingyeah at the at the university of
cincinnati.
Speaker 1 (38:09):
So oh, they got a whole new sports complex.
They got this practice facilitygoing up.
Now they got rid of theirbubble and they're putting a big
practice.
The bangles don't even have oneof those.
The bangles got a bubble in thebig 12 yeah, well, now we're in
a big 12, we gotta step it upand they gotta be in the sec.
Speaker 2 (38:22):
Well, I don't know if you know, this is the only way
people care at it.
Speaker 1 (38:25):
Yeah, cincinnati is the second city for the most
professional athletes per capitathey come out of here.
St Louis is number one,cincinnati is number two and
it's like there's a top.
Speaker 2 (38:35):
It's a shame that girls sports aren't more popular
because we have tons of girls.
The number of Division I girlathletes in this area is stupid
and then nobody gets anynotoriety.
The one girl, morgan H Henson.
She just made the US Olympic.
Well, she's in the player poolfor the US Olympic volleyball
team.
Speaker 1 (38:54):
When some of the soccer players Well, she was an.
Speaker 2 (38:55):
All-American three years.
Three out of four years.
She was a national champion andan All-American at Stanford as
their libero, like that'soutside of probably Sean
Alexander and Dave Cowens, it'sthe best athletic career that
I've heard of for an athleterunner.
Nobody's ever said a word.
Speaker 1 (39:13):
Well, barry Larkin, ken Griffey Jr.
Yeah, pete Rose, yeah, daveParker, yeah, roger Stalbuck.
Speaker 2 (39:20):
I mean we've got a few.
Those guys are in Cincinnati.
I'm talking about my Kentuckypeople.
Speaker 1 (39:24):
Yeah, your Kentucky people, that's true.
I mean, when you think about it, I mean it's Cincinnati, dayton
, columbus, youngstown,cleveland and Pittsburgh, like
that whole strip right there,for whatever reason, crazy
amount of athletes have come outof all those areas right there.
So this would be a good placeto kind of you know plant your
(39:44):
hotbed.
Speaker 3 (39:45):
Why don't you guys have a celebrity golf tournament
?
Speaker 1 (39:47):
Let's get all together and let's play.
Yeah, oh, there we go, I'll I'llbe there I'll walk over the
stadium right now and go knockon their door say, hey, mike
brown, get out here, we got, wegot an idea, but this is really
good.
I I think this honestly shouldbe part of if a team brings
somebody on or an agent likeagents should be working
directly with you guys.
(40:08):
I mean to help kids out.
Like you've got proven businessmodels.
Before you get in any crazywild idea, you know, buy an ETF
or buy an uh NFTs or somethingfrom your friend, like, what you
need to do first is getyourself a couple of franchises.
You just sign that rookiecontract.
Get yourself two or threefranchises, stabilize yourself,
(40:29):
get some good operators in there.
You know, five, six years downthe road I think the average NFL
career is three years threeyears down the road.
You're going to be lucky,you're going to be glad you had
those.
Speaker 3 (40:39):
Yeah, you're going to be walking into, walking into a
salary and you're going toavoid corporate America.
Speaker 1 (40:44):
That's right, nobody wants that.
Speaker 3 (40:47):
Yeah, no one wants corporate America.
Believe me.
Speaker 1 (40:49):
Well, James, I really appreciate it.
Thanks for being on the showagain, guys.
Um, tell them the website, anyother ways that they can get
ahold of you.
Speaker 3 (40:57):
Uh thefrandreamcom James at thefrandreamcom uh
email and uh, yeah, we'd justlove to hear from everybody.
Speaker 1 (41:05):
I love it, james.
Well, good luck with everything.
I love your niche.
I think you're.
You got so many opportunitiesright now and you know the
players talk.
Next thing, you know you'regoing to just.
You're gonna be overwhelmed.
You're going to need tofranchise the friend dream, yeah
exactly there you go.
Speaker 3 (41:20):
Thank you so much.
I really enjoyed my time withyou guys today, appreciate you
and appreciate all that you do.
Speaker 1 (41:26):
Yes, sir, have a good one, Thank you.
Thanks for joining us on thisweek's episode of Side Hustle
City.
Well, you've heard from ourguests.
Now let's hear from you.
Join our community on Facebook,Side Hustle City.
It's a group where people shareideas, share their
inspirational stories andmotivate each other to be
successful and turn their sidehustle into their main hustle.
(41:46):
We'll see you there and we'llsee you next week on the show.
Thank you.
Welcome to Side Hustle City and thanks for
joining us.
Our goal is to help you connectto real people who found
success turning their sidehustle into a main hustle, and
we hope you can too.
I'm Adam Kaler.
I'm joined by Kyle Stevie, myco-host.
Let's get started.
All right?
(00:24):
Welcome back everybody to theSide Hustle City podcast.
Kyle in the studio today.
Speaker 2 (00:30):
Wow, finally Sitting right here, finally had one that
I can make.
Yeah, there we go.
One of the worst co-hosts inthe history of entertainment.
Speaker 1 (00:39):
Well, it's fine because one of your favorite
subjects is about to be talkedabout today, because we've got
james holofsky on the show.
He is a franchise expert, workswith a bunch of athletes,
helping them uh get some moneyafter they, uh, their, their
career ends.
It may not be the the moneythey think they're going to make
, based on what their currentsalaries are, uh, but it's uh.
(01:02):
You get enough of them andyou're doing okay, right,
absolutely, yeah, you get.
Speaker 3 (01:04):
And you're doing okay , right, absolutely.
Yeah, you get enough.
You're doing okay, that's forsure.
Absolutely.
Speaker 1 (01:08):
Well, james, I appreciate you being on the show
today and I love this subject.
Kyle loves this subject becauseKyle's actually thinking about
maybe picking up some franchises.
Speaker 2 (01:15):
Well, yeah, like the the, the, the conversation
that's going on in our houses.
Our kids are getting older andyou know my wife they can work
for you.
Yeah, well, they could.
Speaker 1 (01:27):
Yeah.
Speaker 2 (01:28):
They probably like it .
Well, cayman would still wantto do the construction side of
it, but Elijah would definitelywould want to work for us.
The thing is is that Allison'sdoesn't have to be a stay at
home mom anymore and she's beendying to do something where she
could handle her own businessand take the money and reinvest
it in a way that she saw fit,which is she wants to buy cabins
down in the gorge, which is astate park here in Kentucky
(01:50):
that's pretty, pretty heavilyvisited from people from greater
.
Cincinnati, um, in differentparts of the state of Kentucky.
Go there and they have they'rereally building up the area to,
you know, glamp.
So you have these nice cabinswith hot tubs, and she just
wants that.
She wants to have a place likethat where she can go.
It's two hours away from home,but she also wants to be able to
get a lake house in a place wego into, a North Carolina, as I
(02:13):
will.
Money doesn't grow on trees,buddy, so you better, you better
, figure this shit out.
Yeah, and I thought that in.
Well, this is that you work.
Now you have your money to dowhatever the hell it is you want
to do with it, and you use thisto build your wealth.
Well, you know, like we're in aposition where we don't need to
(02:34):
use this to pay for ourmortgage or our cost of living
or anything like that.
This is, this would be extramoney.
Speaker 1 (02:40):
This would be retirement money you could kind
of put away if you wanted to ordo big things with it.
Speaker 2 (02:44):
Yeah, or something that Chit Shoe might be.
It might turn successful Likehe was.
We were talking off air hereabout one of his clients that
they said well, if one of therevenue from one of them isn't a
good enough for you, let's dothree of them.
That's right.
Speaker 1 (02:58):
That's right.
Well, james, you're going totell us all about it, like, what
are some of the franchises thatyou seem to like the most?
I know there's a um, you knowthere's.
There's a lot of people outthere.
Speaker 2 (03:10):
They're different personality types, some folks
you know are hands-on, startwith like a typical process.
Like somebody contacts you,they contact you.
Speaker 1 (03:19):
Sorry, not though no, no, this relates.
This relates becauseeverybody's different about what
they want out of a franchise.
Speaker 3 (03:25):
Yeah, yeah, definitely.
So when someone contacts me I'mgoing to tell them hey, let's
talk about what your goals are.
Why do you want to get into thefranchise business?
It could be many differentscenarios.
Just backtracking to what wewere saying earlier was I had a
(03:46):
guy that was played for theAtlanta Braves, was the number
one draft pick but neveractually made it to the show,
but he was a triple A worldfirst player, he.
He then retired from the gameand he got into corporate
America and his family isgetting a little bit older the
wife and kids.
The wife doesn't want to be astay-at-home mom anymore and
(04:08):
he's like well, I don't reallylike corporate America, I kind
of want to transition out of it.
So what he did?
He got into a dog groomingbusiness to where the wife's
going to run the day-to-day.
The kids are going to help out.
He is also going, you know,when I get to unit number three,
I think that's when I'm goingto transition out of my job and
(04:31):
into it.
So the family's going to buildone and two, he transitions out
for three and then they go fromthere if they build more and
just keep on adding on.
So there's different ways toapproach it.
So we talk about approach gameplan, what the athletes are,
owner operators, because theystill are playing or they don't
(04:53):
really have the time they wantto get a manager to run the
day-to-day.
So we talk about owner operatorpassive model, what kind of
investment we're looking at 200Kor below, 200k or above, and
what are the goals of it andwhat are the industries that you
like and I have over 500 brandsthat I represent that I can
(05:19):
help find the right fit for them.
I will say you know everyonekind of goes, oh, shaq, and the
restaurants and restaurantindustry is great at it.
Well, my background before Idid do this was in the
restaurant business.
I don't really recommend thatfor somebody who doesn't got
into the restaurant business.
They would have to have a greatteam and it's one of the
(05:41):
highest investment levels outthere in the franchise world and
it's one of the most riskiestones and your margins are 10, 15
percent as opposed to.
I could get you into doggrooming for 200 K a unit and
get you 30, 40 percent marginsand your money's back within the
first year.
We do that all day long over arestaurant.
(06:02):
Yeah, within the first year, wedo that all day long over a
restaurant?
Speaker 1 (06:04):
Wow, yeah, and most restaurants, I mean especially
you know the the more I guess,employee intense restaurant
types, not like a Dunkin Donutswhere maybe you need two or
three people there I'm, you knowbigger restaurants, things like
that, and restaurants arealways known as kind of a bad
investment anyway.
Speaker 2 (06:22):
Like 60 percent of them tank in the first year.
Speaker 1 (06:25):
Yeah, but like a Dunkin'.
I mean you're selling coffee.
There's usually higher marginsin coffee.
I think the average Dunkin'owner brings in maybe like
$100,000 or something net afterit's all said and done, which
you'd think it'd be higher thanthat.
Speaker 2 (06:36):
Well, I have three commercial buildings and they've
all got some sort of foodservice in them.
Speaker 1 (06:47):
I have no idea how that happened.
It just they just did it, justit just happened.
Well, we got commercial kitchendown the basement.
We got a lady making you know amillion plus down there, uh,
you know, doing catering.
But what are some of the topthings you see right now, like,
say, say somebody came to youand you didn't know him from
anybody you know, cause we don'tknow who's listening to the
podcast right now.
You didn't know him fromanybody.
What would be the five, saybusinesses or the tight
industries that you would kindof put people into right now?
Do you think?
Speaker 3 (07:08):
Well, definitely the pet industry.
Slot margins are great.
So anything in the pet industrycomes to dog grooming, dog
boarding really great strongmargins, one where you use you
can get a manager to do theday-to-day so you don't have to
be the owner, operatoroperatorof it.
That's a really good one.
Health and wellness is reallybig.
(07:31):
So IV hydration, iv bars, redlight therapy, muscle recovery,
all very high margins and verysought you know, sought out
businesses for sure.
So that kind of the health andwellness dog, you know, dog
grooming definitely are one.
It depends on the area but youknow there's a lot to be just
(07:57):
you wouldn't even think about it.
But it would be window washingreally high margins and window
washing there is somecompetition but you could do
very well in that.
As well as the home servicemarket, hvac very high margins
in the HVAC industry.
As well as car industry.
(08:18):
You do have car accessories,bed lining and trucks of stereos
and and window tinning verystrong margins in there as well.
Speaker 2 (08:30):
I mean, you seem like you.
If you're, you've gotprofessional athlete clients, so
it seems like you're prettywell connected.
How did you get started in thisLike, how did you become the
point man for all theseprofessional athletes that's
come say, hey, I don't want tobe on the 30 for 30 broke
episode two.
I want you know, I want to makethis income for the rest of my
(08:51):
life and I'm going to have to doit through you know business,
my own business, and I don'twant to run the risk of starting
something from ground up and itfails.
I'd rather have somethingthat's already cash flowing.
How did you become that person?
Speaker 3 (09:05):
Well, I wish I was that person for all of them, but
it was definitely a little bitdifficult.
My career was in the restaurantindustry, was a regional
director for a fast foodrestaurant, went into a pizza
restaurant that had one unit andthey decided to franchise.
So I helped build that over toa hundred units.
(09:26):
So then the largest franchiseeof that company said, hey, come
work for us and and help me runmy system and my restaurants and
let's do a couple morefranchises.
Turns out they were two NFLfootball players that own the
own the franchise.
They were brothers and they wedid.
We did our.
We did our pizza restaurants.
We did another ice thefranchise they were brothers and
(09:46):
we did our pizza restaurants.
We did another ice creamfranchise.
We did our own coffee shopmodel and we did our own dough
creamery.
Then one of the brothers retiredand the other one got hurt,
couldn't fulfill the rest of hiscontract, and they decided, hey
, the restaurant business istough.
We all kind of decided that.
They decided they were going togo into the tequila business
(10:06):
and I have nothing against thetequila business, they're doing
very well.
It really wasn't my expertise.
So I decided I was going to gointo the franchise world and I
always being around the brothersand the athletes, I saw all the
people, even their best friends, would just try to get them
into invest into the craziestschemes you could even think of
(10:28):
out there.
They just kind of money grab.
And I just said you know, when Ido this I want to focus on
athletes.
Believe me, I love all theprofessionals that are out there
, love to help them get out ofcorporate America as well, but I
also wanted to help theathletes to where they can make
really good investments andsmart choices on franchise that
I showed them.
(10:49):
So I didn't want any.
You know I'm tired of peoplethat were taking advantage of
them for sure.
So from my relationship withthe brothers I knew some people
athletes that are out there andjust kind of built that network.
I go on a lot of celebrity golftournaments where I meet some
athletes and do speaking aboutfranchising and it's always very
(11:10):
well received there.
So I'm always kind of branchingout and seeking, you know, more
athletes on a daily basis, ofcourse.
Speaker 1 (11:18):
Well, kyle is a you know, he's a first round draft
pick of the freight brokerindustry.
I would say at this point inhis career.
If, if there was a draft, kylewould go like one or two, maybe
three.
I mean, if you know there wasan injury or something, he might
drop as low as three yeah, I'dbe like the ryan leaf number one
, number one draft pick type alittle combustible he might slap
(11:41):
us.
Speaker 2 (11:41):
I might slap a reporter and yell at him in the
locker room.
Tell him to get out.
Speaker 1 (11:49):
Look, James, he'd have to tear his ACL at the
beginning of the draft to dropas low as three.
Speaker 2 (11:51):
That's how good Kyle is In real life.
I tore my meniscus in my otherknee, so I tore it.
I had a surgery right beforeThanksgiving and now I have it
again in my other knee.
There you go.
Speaker 1 (12:01):
Well, if his MMA career.
Speaker 2 (12:03):
Yeah, I think jiu-jitsu's done.
Speaker 1 (12:04):
If his jiu-jitsu ever takes off, James, he's going to
be coming to you.
He's going to need it.
Yeah, when he's like one of thetop 10 MMA fighters in America.
Speaker 2 (12:14):
I just want to go for sanity.
I want to.
If I were to do it, it would bebecause I want to replace my
income and I want to be thecharge of my own destiny with
something that's already beenproven to work, Like it was
something with a, with a trackrecord, and it's like just go
Well, say say, kyle's making Idon't know 250 a year right now,
(12:35):
right before taxes, and hewants to get out of this
indentured servitude he's in uh,even though he loves his
company.
Speaker 1 (12:42):
What?
What would you tell hey man,here's what you need to do,
here's how much money you needto have, here's how much money
we need to find for you, maybeSBA loans 7A or something like
that.
What would you tell Kyle?
Speaker 3 (12:55):
So if we're looking at we want to make $250,000, I
would tell Kyle one thing is andI'm picking it on it pretty
much you want to replace theincome.
So let's look at investments inthat vein.
If you went out and bought realestate and tried to flip houses
because that's what everybodythinks is so easy to do, it's
(13:15):
risk-free which it's not easy.
It's not risk-free but the realestate market's a long play,
which it's not easy.
It's not risk-free, but thereal estate market's a long play
and it doesn't replace anincome.
I mean, you're not going to buyone property replace your
income In the franchise world.
You're going to go to a provensystem that an athlete or CEO or
business person they're goingto give you the playbook to
(13:36):
follow, so your chances ofsucceeding are much greater and
they're going to give you thatongoing support as well as all
the franchisees in the system.
You'll be able to call the guydown the street and go hey, I
have this problem.
He goes yeah, I had that myfirst year too.
Here's what you do.
So you really got a reallygreat network.
So let's just say, well, that'skind of the the, what we want
(13:59):
to replace about 250 K income.
Let's just, I always go becauseit's hot right now.
I always go.
Well, you like pets?
Let's.
Let's look at the dog groomingindustry.
We could get one unit about forabout 200 K total investment
all in and I would say that youprobably could do about 200K and
(14:23):
above on that one unit.
But maybe if we want to replacethat salary, let's look at two
units.
So we're looking at aninvestment of 400K that we do.
Let's look at going to SBA loan.
If we want 400K, we probablyneed about 20% of that in liquid
cash, 20 to 30% that we canshow the bank that we have skin
(14:45):
in the game.
And let's get our SBA loan andlet's look at doing two units.
And the great thing about acouple of the dog grooming
concepts out there is they havereoccurring revenue.
One of them does $45 a dog,unlimited times.
They can bring it in a month.
So you're blowing away yourcompetition right there and
(15:06):
typically that one.
If you get up to 500 dogs,you're making 300 K profit per
unit.
Speaker 2 (15:13):
So are you able to then, if I, if we go to you and
we're like, all right, I likethis dog grooming idea, but the
city that I live in is prettywell to do and there are a
thousand for a city of 25 000people, there's probably 10 dog
grooming area, like companies inmy, in my little city there.
Are you able to say, okay,that's fine, so, but this
(15:36):
geographical area here only hasthis many dog grooming
facilities or companies per10,000 people.
This is where we would put youanyway, or is it something like
it's up to me to find a location?
Speaker 3 (15:48):
No, the franchise, the franchisor, usually has all
those good stats.
I have some of them available.
I have some of them available.
I always like to refer theclients to the franchisor
because they have the stats andthey know the exact demographic
that they're looking for.
So they're the experts fortheir customer.
So they will have thedemographics around of going hey
(16:10):
, yes, we do think it would be agreat area, even though there
might be two or three in there.
We think we have a good enoughmarketing strategy to overcome
that and that's a great thingtoo.
Of, hey, if you're talking withthe franchisor and you kind of
get that doubt, well, I reallythink I'm saturated.
Well, let's look at somethingelse.
Let's look in the health andwellness area and let's go into
(16:33):
an IV bar that does a, that doesum, chiro therapy in it and red
light therapy Uh, I think thatwould do really well in there.
Uh, you know all in onebuilding.
So the, the, that that would goreally well.
Or let's do a uh, if there'skids events and kids sports,
let's do a muscle recoverystudio that works on recovering
(16:57):
kids muscle recovery tapes,their ankles before events.
We have a mobile unit that goesout to soccer tournaments,
basketball, baseball events.
We do composite boots formuscle recovery, we do cold
compression therapy as well, aswe have red light as well.
So many different ways we canattack and look at a specific
(17:18):
area, and also, really, it's upto the client to go.
Yeah, I'm really passionateabout this.
I think this is a great fit forme.
Speaker 1 (17:25):
Yeah, especially athletes, I would think with the
red light therapy and some ofthe stuff you just talked about.
Now here's a good question.
So my wife already owns abusiness and there's probably
other people out here that areown.
You know they own a business.
She just does facials on womenright now.
This is just she.
They come in, they get facialsboom out, right.
(17:45):
You know, with the economicdownturn, these facials, you
know an hour session could belike 400, right, and they leave
with products and things likethat.
So if she wanted to kind oftake that business right she
she's got that core businessalready.
Is there a way for her to tackon a franchise in the health and
wellness space that works withwhat she's already doing?
(18:06):
That she could then sell to hercurrent client base but they
could also bring in this otherrevenue stream like a red light
therapy or something therapy orsomething.
Speaker 3 (18:20):
Yeah, absolutely, she could easily do that there.
You could.
You could add a franchise intoan existing business.
Definitely.
I'd probably say maybe you knowhair extensions would be a
great business.
To add onto that, there's ahair extension franchise in
Phoenix that's doing a milliondollars a year just hair
extensions, just because there'snot a lot of people that do it
(18:42):
right and do it the right way.
So, yeah, there's definitely alot of add-on business For a
salon.
Speaker 1 (18:48):
That would be amazing if you're not already doing
hair extensions.
And then the idea is that thesefranchises are sending you
business, so they may have awebsite somewhere where or
they're helping you with searchengine optimization or local
search or some of these otherthings.
But talk a little bit about howdoes being part of a franchise
(19:08):
actually help you from a, like,a client acquisition perspective
?
Speaker 3 (19:13):
So, like the franchise, support from a client
acquisition, definitely yeah.
So let's, let's see we have afranchise that does.
There's a three-in-onefranchise out there that does $7
million a year.
They do tree trimming, they dolawn care not mowing lawns, but
lawn care, treating lawns andpest control.
(19:33):
So that's the franchise, theydo three-in-ones.
They actually do all themarketing, social media for you.
But they also have a callcenter where they have someone
that getting back to the clientsbooking appointments for you.
So those are some things tolook for if it's a client-based
(20:05):
acquisition company that you'relooking at.
They definitely help with leadgen because they know sometimes
lead gen is everything andmarketing is everything to get
in business is everything andmarketing is everything to get
in business.
So a lot of them are definitelyon the lead gen marketing game
and, and how you know, callcenters out there for you
marketing.
All of them have marketingprograms that that are intrude
(20:28):
and and tried and put throughthe fire of of ways that work
for them.
Speaker 1 (20:32):
Well, see, cause it makes sense, like for my wife.
So she already owns herbusiness, right, but she's got
to do her own lead gen.
Now, right, the economy's down,people aren't spending a bunch
of money on luxury businesses.
You know, rich people are thefirst ones to start cutting back
because you know they're smartabout their money.
Right, and you've got apotential opportunity.
If you already own a businesslike that in the beauty care
(20:53):
industry, there may be afranchise she could tack on
that's doing lead gen out therethat could send her clients for
a completely different thing Redlight therapy, say.
They come in for a light therapyand then they start using her
other services as well.
So they could send you a clientthat's typically worth, you
know, maybe $10,000 over thecourse of a year.
(21:13):
That turns into a client that'sworth $30,000 over the course
of a year in the luxury space.
I mean these, uh, she's got oneclient to spend 60 grand a year
with her.
So the circles you run in, yeah, well, I mean yeah, the circles
you run in.
So they're the circles that youoh well, yeah well, her she's,
she runs in those circles I runwith hood people, but so she, so
she's.
So she's bringing um.
(21:34):
You know she's bringing inanother business that's actually
doing the lead gen and all thatwork for her.
But those clients are worth waymore to her than just red light
therapy.
They could potentially level upand become clients that want to
get facials once a month.
Speaker 3 (21:54):
Sure, and I've had clients that have had some
certain exact scenario, kind ofwhat you're explaining, and
they've done where they've hadthe space next to them in their
business that's opened up andthey put a franchise right next
to it and it was.
It was almost like owning dualfranchises, because you're using
the marketing skills of this tothe one next door and still
drive you're driving bothbusinesses.
Speaker 1 (22:12):
She actually had the office next to her open up and
they busted out the wall and puta doorway in, and now she's got
a bigger space, so that wouldactually apply to her as up, and
they busted out the wall andput a doorway in, and now she's
got a bigger space, so thatwould actually apply to her as
well.
So, but then you got peoplelike me who and maybe some of
these athletes as well that Iown my own businesses.
I'm busy a lot.
I'm running for office rightnow here locally.
You know I've got a lot goingon, but I wouldn't mind making
an extra hundred grand a year,you know, and, and you know, I
(22:34):
could go out and get a loan andthrow it at a Dunkin' Donuts or
whatever and have somebody elseoperate it for me.
I don't think Shaq works atmany of the Papa John's
restaurants that he owns, butfor somebody like me, I'm doing
okay, but maybe I want to open afranchise and find people to
work there.
What kind of stuff's out therefor me?
Speaker 3 (22:54):
Well, mostly anything in any industry Like, we'll
have one client that is into agym.
So you would think, wow, you'regoing to have to put a lot of
time into this gym.
Well, not really necessarily.
If you find the rightfranchisor that's able to
support it, that's really goodin there you're looking at.
They help you hire the manager.
(23:15):
They help you hire the manager.
They will go through yourscreen, do the interview for you
and present the candidates toyou and go.
There's three to four differentcandidates that we really like.
Pick one.
So they help you hire themanager.
And now you're the athlete andyou really have to manage the
manager.
That really isn't going to beas time-consuming, that really
(23:41):
isn't going to be as timeconsuming.
But then also, the franchisor,in a way, is really dealing with
the manager on a day-to-daybasis.
Because if they have reallygood support in this particular
model, this gym franchise has afranchise consultant and all
this consultant does is look atall the numbers for the gyms
every day and see what the KPIswere Did you hit labor, did you
(24:03):
hit this?
And they're sending out emailsand text messages to the actual
manager.
So your franchisor is actuallyhelping you manage your manager
and do the day-to-day so youcould get a lot of support with
the with the right franchise ofhiring, of helping and policing
(24:23):
your own people and helping yourun your business.
Speaker 2 (24:26):
Yeah, I would assume that was that would be a big
part of the education iswatching how the franchise or
communicates with the management.
Cause I mean, I, I, I wouldthink that we would I would be
more hands off from the gig fromthe get-go, just because, a I
don't have the time and b Idon't have the knowledge to run
it efficiently compared tosomebody who's you know yeah,
(24:48):
like going to dunkin donuts.
Speaker 1 (24:50):
I just don't know how to run one.
Speaker 2 (24:51):
You know it's so it's like an education course.
So, like the, you're cuttingdown all your margin for error
and your your learning curvefrom.
So when you go from unit one tounit three, you know exactly
what your manager should bedoing.
You be, you can.
You can nip it in the budbefore you know corporate even
(25:11):
takes a look at your store orwhatever.
Speaker 1 (25:13):
That's right, yeah, and.
And I mean if, if or whatever.
That's right, yeah, and.
And I mean if, if, if it's likeme, just somebody who's already
owns businesses, or like youyou're working a full-time job.
I just want to make a littleextra money, it, you know, I'm
willing to go out and get an SBAloan, put it into there, as
long as the thing's going to netme maybe another 30 to $50,000
a year.
If I've got to pay a manager, Irealize you know they've got to
(25:34):
make money too.
But you know, if I'm netting 30to 50 extra thousand dollars a
year, that's nice, you know, andI could use that.
I could leverage that then tobuy another franchise.
Buy another franchise, you know, and then after a while you get
enough of them and maybe youhire this manager is like your
regional manager.
If you got two or three of them, you know it may not be a big
deal Pay them a little extra tomanage or oversee those other
(26:00):
two operations that you maydecide to buy.
But I mean, in that case, inthat scenario, say it's a
Dunkin' Donuts right, averageDunkin' Donuts person's making
maybe a little over $100,000 ayear, okay, if they had to bring
in a manager.
What does that reduce the netdown to that they would take
home?
Speaker 3 (26:14):
You're probably looking at $60K on average of
what you're paying the manager.
So you're looking for you knowyou got an additional $40K in
profit.
That's out there.
And then also one thing to keepin mind that a franchise a lot
of people do think if you're ina franchise, you are into that,
(26:34):
you can't sell it.
A franchise is your asset, it'syour business.
You can sell a franchise afterbeing in it two, three years.
If you got your money back andyou decide, you know what, I
don't want any more of this, Ijust kind of want to be done and
just retire completely, you cansell your business off it, even
though it is a franchise.
That's common practice and thefranchise will help you do that
(26:57):
right.
Speaker 2 (27:02):
Sell the Chick it is a franchise, that's, that's
common practice and thefranchise will help you do that
right.
So the chick, yeah, they helpmarket it and will help you do
that 100 your chick-fil-a innewport, the one you love so
dearly.
Speaker 1 (27:07):
I love it.
That was that just sold.
Did it sell?
Oh, I didn't know, but theowner can't, because the owner
never really owns it.
They're essentially like amanager, but maybe they sell
their.
Speaker 2 (27:15):
They sold something for seven.
Wow, that's not bad.
Speaker 3 (27:18):
Yeah, the owner never really owns a Chick-fil-A,
they're just a profit share intheir system.
Speaker 2 (27:24):
Maybe they had a share.
It was listed.
Speaker 1 (27:26):
Yeah, they like pay for themselves, a job is really
what it is.
Like you pay for a managementposition in a Chick-fil-A or
something crazy like that, butyeah, but I mean there's tons of
stuff out there that you coulddo and I'd be happy with you.
Know, I don't want to be greedy.
Speaker 3 (27:47):
I mean $30,000, $40,000 extra a year if I'm
paying a manager seems like akind of a no-brainer.
Yeah, oh yeah, and it reallyreally makes a lot of sense to
do that.
And, like you said you said itright Then you then you do
another one.
You know, build, get anotherterritory, get another franchise
, expand your territory.
And then you take that greatmanager that's been with you
from day one and you make themthe regional and you can build a
(28:08):
little empire of franchises.
Absolutely, that's a that's agreat way to go and a great
thinking of building uponbuilding.
You know, you really, yeah, youcan get into a franchise and
and only have one and that'sthat's great, there's nothing
wrong with that.
But if you have that long-termand want to build, I believe you
know multi-unit is the way togo.
(28:28):
If you, you should always gowith that first franchise, go.
Okay, when do I want the nextone?
You know what about what?
What point do I want that one?
Speaker 1 (28:42):
And it's probably good to stick with that same
group, I would guess, whateverthat is just kind of like.
I don't want to own a Duncanand a Wendy's.
Speaker 3 (28:45):
I probably just want to own two Duncans, right, right
, yeah, definitely would be onething to stay with.
Or you got into let's say yougot into the restaurant business
.
You have no idea what you werein for, but you're still making
pretty good money.
But it's going.
There's a lot of headaches.
Then look for another franchise, look for you know, look for IV
muscle recovery on that side,and then you'll go gosh.
Speaker 1 (29:08):
This is so easy to run when there's only one to two
employees compared to, you know, 20 to 30 at a restaurant, for
sure to 30 at a restaurant forsure, when I've always heard the
lowest failure rates are atthings like car washes, uh any
kind of um uh route for vending,uh, there's, you know, those
kind of businesses, laundromatsbut they seem to be hard to find
(29:30):
fedex does.
Speaker 2 (29:32):
Fedex does um the routes too like fedex like an
amazon route.
No like, oh for no like justlike FedEx, they'll have a
specific routes that they run incities because they're all
owner operators.
Yeah, so they'll sell theirroutes Just like a bread truck
guy would.
Speaker 3 (29:47):
Like a bread guy.
Yeah, like a bread guy.
Yeah, there's that out therefor sure.
That makes some sense as well.
You know, there's just manydifferent, different ways you
could go on a franchise.
There's also some franchisesthat do clothes, recycle clothes
, where they have bins all overtheir territory and then the the
(30:12):
bin actually has a chip in andgo, okay, it's time to come get
it.
And then you come and get theclothes that go out, and then
you take those clothes and gosell them to Salvation Army for
a profit or or or differentvendors like that as well.
Speaker 1 (30:26):
Well, I got married in Italy and we were in Milan
and I got a suit, made Milanright.
Well, we go past some of thosebins and there's designer
clothes stuffed in the bins,like pouring out of them, Like
what the heck am I doing Gettinga suit?
Man, I could just went in hisbin.
Look at all this stuff.
I mean you're in Milan.
It's like all designer stuffthey're throwing away, Like
Gucci.
Speaker 2 (30:43):
It wouldn't be the first dumpster I've been through
.
Speaker 1 (30:45):
Yeah, man, whoever's benefiting from that dumpster is
from that, from that clothesdumpsters.
They look great, like theirwhole outfits, nice and
everything.
But yeah.
So I mean, if I was looking fora franchise, I would say I want
something with like a lowfailure rate, something that's
in demand, maybe something abrand that's on its way up, like
I would have loved the DutchBrothers franchise, but then
they went corporate, theystopped allowing new franchisees
(31:07):
and I was in Colorado Springsand I went there and the line
was down the street and I'm likewhat is going on with this
place?
I need to own one of these andI looked it up it's too late.
Speaker 3 (31:17):
Yeah, yeah, they, they, they went all corporate
there's.
You know, the coffee is pretty,pretty a good demand for sure.
There's some brands out therethat are up and coming, and then
there's also a brand out therethat goes hey, you know what, I
will build you a coffee shop, Iwill give you the recipes, I
will give you the training, theopening, training, some support
(31:40):
in the end.
And all you have to do I'm notgoing to charge you any
royalties, all you have to do isbuy the coffee from me and
they're doing the build out forabout 250k and so that's cheap
because most coffee shops arebuild outs 500 to 800 K and
they're doing the build out for250 K and they're just like just
(32:03):
buy the coffee from you andthey have a vested interest
because you know they want youto be successful, because you
want they want you to buy thecoffee from them.
So it's kind of a win win.
You get it with.
You still get the support.
You get the nice reduced costof building the building.
Uh, you still get the support.
You get the nice reduced costof the of building the building
and, uh, you know, you stillhave that support I love it, man
(32:24):
.
Speaker 1 (32:24):
So what are some of the um, your favorite passive
type of franchises you wouldrecommend right now for people
like, say, an athlete, right,what would you recommend to them
?
I mean something in sports,health fitness.
Probably, if it's an athlete.
Probably if it's an athlete,yeah.
Speaker 3 (32:39):
So if it's an athlete , we are again, I keep saying
this but we're going in the doggrooming area passive, have the
manager run it.
We either do that.
We either do boarding.
We are doing the IV driptherapy.
We're doing some gyms Believeit or not some really good
passive gyms that provide greatsupport that can do that.
(33:01):
We're going to do, obviously,the muscle recovery.
I've had some athletes that havejust said, for instance, this
one athlete.
He owned his own wine companyand he was tired of it.
He's just like you know, it'snot really my passion.
So we looked at some differentfranchises and he said you know,
(33:23):
I just think I'll stick with mywine company.
And I said, ok, well, you knowwhat we could try looking at
some different things.
And next day he calls me up andgoes I got it.
I know what I want.
I want a franchise that dealswith mental health issues of
addiction issues, and you knowthat's the kind of franchise I
want.
So we went out and found a oneand he wound up signing with
(33:47):
them three unit deal and hisgoal is that, once he gets these
three up and running, is to putone of these in every NFL city.
Speaker 1 (33:55):
That's out there Interesting and put his name
behind it and do a littlepromotion, especially if you've
got a brand, if your personalbrand is already out there.
That's something that you'repassionate about.
People love those stories.
Athletes with these, you knowpassion projects that want to
help the community.
I mean that's a great story.
Speaker 3 (34:19):
Yeah, and then we have one athlete.
He is an ex-NBA basketballplayer.
He does a lot of littlebusinesses, involved heavily in
a charity.
He wound up getting a weddingdress company to where it's a
franchise, to where they don't.
Brides come in, they get fitted, they take the measurements and
(34:44):
they then they ship it back.
So you don't have a lot ofinventory at the shop and the
wedding dresses, bridesmaiddresses, are sent into the shop
and you don't carry thatoverhead.
And I mean they're doing amillion dollars a year.
Speaker 1 (35:00):
Wow, I could do one of those.
We're in a wedding, I own abuilding and we're in a wedding
district right here.
I could probably uh, we couldturn that upstairs into a little
wedding dress place.
We can do that, yeah, so that's, that's awesome.
I mean, you know what I wouldsuggest.
I mean, maybe you're alreadydoing this, but I'd love for you
to go into some of theseuniversities with these kids
(35:21):
that are getting these NIL dealsand have them take some of that
NIL money instead of going out,buying a sports car with it or
something silly, get injured or,you know, they don't end up in
the NFL or whatever.
Well, here you are, with, youknow, two franchises out here.
(35:42):
You know, doing exactly whatyou're saying, Some of these
things that they you know mightbe passionate about already.
Or, because you're an athlete,you know that that lends your
skills and your experience tothat business.
I mean that that would beoutstanding.
You should come here to theuniversity of Cincinnati and
talk to some people around here.
Speaker 3 (35:55):
Yeah, oh, heck, I would love to do that.
It's kind of funny that yousaid that I actually was
thinking about that and some,some players were talking about
that, and I actually had someonefrom um university of, for Cal
plays on the football team thatapproached me and says I have
some money and you know, I kindof think I want to want to do a,
do a franchise, and uh, sowe're, uh, we're trying to help
(36:18):
him get a find the right fit forhimself.
Speaker 1 (36:21):
I love it, man, wow, and I love your niche.
Like you've gotten into this.
You know you're you're doingfranchises.
You obviously know a lot aboutfranchises.
I mean it sounds like anybodycould come to you.
But this target going afterthese athletes I mean these
could create some really goodstories for you, because people
wonder what you know guys aredoing after you know they
finished their careers.
Like you know what's PokeyReese doing right now?
(36:43):
Is he?
Is he got some franchises?
Is he like that'd be a coolstory, like let's follow up on
this.
Guy played for us for a bunchof years and now he's.
You know he owns eightfranchises thanks to you know
Franchise Dream here.
Those are really cool stories.
Speaker 3 (36:57):
Absolutely.
And the stories we don't wantto hear is when you know you
talk to someone who is draftedthird overall in the NFL and you
talk to them and they go youknow I'm out of money.
I mean I don't have any moneyand you're just your heart cares
for them.
That, uh, you know they hadsome people that made some bad
investments for them and theyare just um, you know they're,
(37:21):
they're chasing any kind ofmoney they can get.
It's.
It's very sad at times.
Speaker 1 (37:25):
Yeah, that's.
That's terrible, but you'redoing it, man.
And the URL for your websitethefrandreamcom.
Guys, you should definitely gocheck that out.
James has a lot of really coolstuff out here and I'm serious,
you need to come to Cincinnati.
We got all these Xavier's here,uc's here, Northern Kentucky
University, dayton I mean,there's so many colleges around
(37:46):
here, an hour away from.
Speaker 2 (37:47):
Kentucky.
Speaker 1 (37:48):
Kentucky, an hour away from Kentucky, louisville's
an hour and a half, ohioState's an hour and a half.
I mean you got.
This is like college centralhere and a lot of athletes.
It's amazing.
Yes, yes.
Speaker 3 (37:57):
And I just love.
Last time I was out there itwas a while ago, but they were
just redoing, redoing thefootball field and it was
looking amazing, yeah, amazingyeah at the at the university of
cincinnati.
Speaker 1 (38:09):
So oh, they got a whole new sports complex.
They got this practice facilitygoing up.
Now they got rid of theirbubble and they're putting a big
practice.
The bangles don't even have oneof those.
The bangles got a bubble in thebig 12 yeah, well, now we're in
a big 12, we gotta step it upand they gotta be in the sec.
Speaker 2 (38:22):
Well, I don't know if you know, this is the only way
people care at it.
Speaker 1 (38:25):
Yeah, cincinnati is the second city for the most
professional athletes per capitathey come out of here.
St Louis is number one,cincinnati is number two and
it's like there's a top.
Speaker 2 (38:35):
It's a shame that girls sports aren't more popular
because we have tons of girls.
The number of Division I girlathletes in this area is stupid
and then nobody gets anynotoriety.
The one girl, morgan H Henson.
She just made the US Olympic.
Well, she's in the player poolfor the US Olympic volleyball
team.
Speaker 1 (38:54):
When some of the soccer players Well, she was an.
Speaker 2 (38:55):
All-American three years.
Three out of four years.
She was a national champion andan All-American at Stanford as
their libero, like that'soutside of probably Sean
Alexander and Dave Cowens, it'sthe best athletic career that
I've heard of for an athleterunner.
Nobody's ever said a word.
Speaker 1 (39:13):
Well, barry Larkin, ken Griffey Jr.
Yeah, pete Rose, yeah, daveParker, yeah, roger Stalbuck.
Speaker 2 (39:20):
I mean we've got a few.
Those guys are in Cincinnati.
I'm talking about my Kentuckypeople.
Speaker 1 (39:24):
Yeah, your Kentucky people, that's true.
I mean, when you think about it, I mean it's Cincinnati, dayton
, columbus, youngstown,cleveland and Pittsburgh, like
that whole strip right there,for whatever reason, crazy
amount of athletes have come outof all those areas right there.
So this would be a good placeto kind of you know plant your
(39:44):
hotbed.
Speaker 3 (39:45):
Why don't you guys have a celebrity golf tournament
?
Speaker 1 (39:47):
Let's get all together and let's play.
Yeah, oh, there we go, I'll I'llbe there I'll walk over the
stadium right now and go knockon their door say, hey, mike
brown, get out here, we got, wegot an idea, but this is really
good.
I I think this honestly shouldbe part of if a team brings
somebody on or an agent likeagents should be working
directly with you guys.
(40:08):
I mean to help kids out.
Like you've got proven businessmodels.
Before you get in any crazywild idea, you know, buy an ETF
or buy an uh NFTs or somethingfrom your friend, like, what you
need to do first is getyourself a couple of franchises.
You just sign that rookiecontract.
Get yourself two or threefranchises, stabilize yourself,
(40:29):
get some good operators in there.
You know, five, six years downthe road I think the average NFL
career is three years threeyears down the road.
You're going to be lucky,you're going to be glad you had
those.
Speaker 3 (40:39):
Yeah, you're going to be walking into, walking into a
salary and you're going toavoid corporate America.
Speaker 1 (40:44):
That's right, nobody wants that.
Speaker 3 (40:47):
Yeah, no one wants corporate America.
Believe me.
Speaker 1 (40:49):
Well, James, I really appreciate it.
Thanks for being on the showagain, guys.
Um, tell them the website, anyother ways that they can get
ahold of you.
Speaker 3 (40:57):
Uh thefrandreamcom James at thefrandreamcom uh
email and uh, yeah, we'd justlove to hear from everybody.
Speaker 1 (41:05):
I love it, james.
Well, good luck with everything.
I love your niche.
I think you're.
You got so many opportunitiesright now and you know the
players talk.
Next thing, you know you'regoing to just.
You're gonna be overwhelmed.
You're going to need tofranchise the friend dream, yeah
exactly there you go.
Speaker 3 (41:20):
Thank you so much.
I really enjoyed my time withyou guys today, appreciate you
and appreciate all that you do.
Speaker 1 (41:26):
Yes, sir, have a good one, Thank you.
Thanks for joining us on thisweek's episode of Side Hustle
City.
Well, you've heard from ourguests.
Now let's hear from you.
Join our community on Facebook,Side Hustle City.
It's a group where people shareideas, share their
inspirational stories andmotivate each other to be
successful and turn their sidehustle into their main hustle.
(41:46):
We'll see you there and we'llsee you next week on the show.
Thank you.
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