September 2, 2025 • 56 mins
What happens when you gather six successful franchise owners in one room and ask them to share their unfiltered insights? You get a masterclass in franchise reality that cuts through the noise and marketing hype.
The Franchise Insiders team brings decades of combined experience as both franchise owners and consultants to deliver a refreshingly honest look at what's actually working in franchising today. This special roundtable episode features Jack and Jill alongside their expert consultant team: David San Juan (Pinks franchise owner), Brian Gross (former Art of Drawers owner with financial expertise), Morgan Noller and Kathryn Allen (both award-winning Soccer Stars franchisees).
From the beginning, the conversation dives deep into which franchise categories are genuinely overrated versus those flying under the radar with exceptional returns. The team unanimously warns against common pitfalls like overvaluing existing business purchases on BizBuySell ("most of what's on there is junk") and chasing trendy fitness or food concepts with razor-thin margins. Instead, they highlight the remarkable opportunities in "unsexy" sectors like home services, B2B facility solutions, and senior care – where average revenues reach 7 figures on investments as low as $150K.
Perhaps most valuable is their candid discussion about misconceptions plaguing new franchise owners. The myth of "passive" franchise ownership gets thoroughly debunked as Catherine shares how her MVP status required "working 80-hour weeks... seven days a week" initially. David adds a recent lesson from covering for his general manager: "I made a mistake putting too much on one person and not learning the business ins and outs."
The conversation explores AI's transformative impact on franchising, 2025 trends including private equity's growing interest in successful franchisees, and practical wisdom about financial runways and proper validation techniques. The team even shares a lightning round of which franchises they'd personally invest $250K in right now.
Ready to cut through the franchise marketing noise and hear what really works? Text 305-710-0050 to access our franchise financial planning tools and find out which consultant can guide your journey toward successful business ownership.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Hi everyone, Welcome back to the.
We Bought a Franchise podcastand today we have a very special
episode.
We're kind of mixing things up.
So for those of you that followus, that listen to our podcast,
you know that we've expandedour team and added a whole team
of franchise consultants.
Our whole concept is franchiseowners helping future franchise
(00:20):
owners, and so today what wethought we'd do is have all of
us come on and just sort of talkabout things that are happening
in franchising, just give youguys real talk of what's
happening in the industry.
So from there, what we'd liketo do is maybe talk a little bit
about each one of us, who weare, maybe our hot take, and
then we'll get into it.
So, Jill, why don't you startoff?
Well, Jack and I run theFranchise Insiders.
(00:41):
Why don't you start?
Speaker 2 (00:41):
off Well.
Jack and I run the FranchiseInsiders and we've been really
excited to add to our team.
So we're excited to share ourteam with you guys today.
Speaker 1 (01:00):
But essentially, we've been doing this since 2017
, and we love helping peoplefind franchises To kick this off
today, and I want all of us tokind of talk about a hot take
that we have in franchising.
You know, for me it still comesdown to if you're going to do
this, if you're going to be abusiness owner, you should want
to be really good at it, like itfeels good, and you're going to
hear from everyone on our team.
Everyone on our team has donesomething very special in their
franchise has been a leader, hasdone something innovative, has
(01:23):
been an MVP.
It feels good to win, and whenyou lead a team the right way,
they really respect you for it.
So my thing is stop thinkingabout absentee and passive
franchises and start thinkingabout how you.
This is a part of your lifestory building a business and
being successful with it.
And with that said David Samwon, kick us off, sir.
(01:44):
Tell us about you and your hottake.
Speaker 3 (01:48):
Thank you, jack.
Thank you, jill.
My name is David San Juan.
I'm a former SWAT officer andcorporate security investigator
turned entrepreneur, and I own aPinks franchise and scaling as
we speak.
My hot take is home services, Ibelieve is a real goldmine, and
forget the fast food brands.
(02:08):
I'm bullish on home servicesand blue collar workers.
Speaker 1 (02:13):
Love it.
Thanks, David.
Speaker 4 (02:14):
Brian.
Hello, I'm Brian Gross.
I spent about 15 years in thewealth management space and then
about two and a half years agoI bought my first franchise in
the home services space, acompany called Art of Drawers.
I spent a couple of yearsscaling that up and recently
just had an exit myself.
My hot take is the bestfranchise for you has nothing to
(02:37):
do with what is the hottestbrand or the fastest growing
franchise right now.
Speaker 1 (02:43):
Perfect, and you know Brian has brought all this
financial wherewithal to thecompany.
It's no wonder we've beenchurning out these new apps that
help you guys with financialplanning.
If you want to know how we canhelp you determine how much you
can invest in a franchise, howyou can plan for an exit, we
have some killer new apps thatyou guys all will want to try.
So definitely make sure thatyou text us 305-710-0050 to get
(03:05):
your hand on those apps.
Morgan, you're up?
Speaker 5 (03:08):
Hi, I'm Morgan Knoller.
I was previously in corporateevent planning and I am a
current Soccer Stars franchiseeout in California and I had the
award last year for communityimpact for helping other
franchisees, which led me todoing this and trying to help
other people find their theirbusiness.
And, um, I think my hot take isdon't get too attached to that
(03:31):
sexy brand name.
Let's find the right businessmodel that fits you and will
help you scale bigger andprobably faster than that one
that you're you've got your eyeon.
Speaker 1 (03:42):
Love it, catherine.
Last but not least, Hi everyone.
Speaker 6 (03:45):
I'm Catherine Allen and my franchise journey started
with the Key, formerly HomeCare Assistance.
I was there for 13 years,worked alongside Jack for a few
of those and, yeah, I wasdirector of marketing there so
really had a chance to build upand support over gosh 130
(04:06):
franchise owners throughoutNorth America and Australia.
Love that, loved helpingentrepreneurs build their
business.
I then bought a soccer starsfranchise, also in California
and in the Bay area, and I wasthe MVP in the first year.
I am still holding the top for,I think, revenue.
(04:28):
I look at that rack and stackevery week.
Every week it comes out, and myhot take for franchising is
that the future belongs tobusinesses that blend AI and
humanity.
The companies that are going towin are those that can connect
deeply with people, robots,machines they can't replace
(04:53):
humans yet, and so that is wherethose leaders, those innovators
you know franchises being thatmayor of the town, you're going
to win.
You're going to win all day.
Speaker 1 (05:08):
Let's, let's dive into this and for those of you
that are, they're listening,this is going to be fun.
Okay, we're going to dive inand we're going to talk about
real stuff that we see happeningin the franchise industry.
Um, first things first.
I want to talk about franchisecategories that we think are
overhyped.
Um, I got to tell you there's alot of buzz.
First of all, I'm going to tellyou the thing I think is most
overhyped buying an existingbusiness.
(05:30):
There are some people out therethat make it sound like it is
the greatest thing on earth.
And I got to tell you somethingif you think buying a business
from some mom and pop who areretiring and who want to sell it
to you for pennies on thedollar, if you truly think that
(05:52):
is reality and that that existsfor you on BizBuySell, you're in
for a rude awakening.
Most of what's on BizBuySell isjunk and, by the way, most
great franchise opportunitiesthat are for sale, franchise
owners sell to franchise owners.
So for those of you that arethinking how wonderful it would
be to buy a cash flowingbusiness and it's sitting there
waiting for you beautifully onbiz by self Wrong, there's a
reason.
Speaker 2 (06:07):
It's on biz by self.
But yeah, I agree with Jack too.
I think purchasing a franchisethat's established and running
like David did, that is a wholedifferent ballgame.
Speaker 1 (06:19):
Right.
So franchise owners that'sreally a massive acquisition.
Strategy for franchise ownersis to grow their business, get
it to the point where they'restable They've got a team that
can do it and then go buy otherlocations.
So that's my overhy withfitness, and so you just need to
be careful.
Speaker 6 (06:36):
You want to be thoughtful?
Um, I just, you know, I'd bewary.
I think it's something youcould.
You could, you know, buy intoum and then you could, you could
(06:56):
exit in a shorter period oftime, but it's just, yeah,
fitness, be careful out there.
Speaker 1 (07:02):
Occasionally like an orange theory.
As you've mentioned before clubPilates.
Those are the ones, if we'regoing to look at it, that make
some sense.
But they're gone, right,they're sold out.
And, to be honest with you, ifyou actually were to try and get
an SBA loan on a fitnessfranchise, in most cases you're
probably going to get turneddown because what they show on
(07:24):
their item six and seven maybethey say it's a three to 500K
investment Wrong.
In today's day and age it mightbe a 700K investment.
So I agree with you, catherine.
I think there's much betterways to make money than
investing in a fitness franchise, although I love going to them
all day long.
Speaker 2 (07:38):
Yeah, I think that's the thing to keep in mind, and
we've talked about this before.
But if you love a particularlike, you love Pilates and you
buy a Pilates franchise, you'renot doing Pilates all day.
You're the business owner,you're behind the books, you're
hiring and firing, you're HR,you're doing everything.
So you actually probably haveless time to do Pilates than you
would have had before.
(07:59):
Yeah, something to keep in mindas we look at some of these
that you know it's notnecessarily what you love doing,
it's what makes the most sensefor you.
Speaker 1 (08:10):
Right, agreed, morgan , you're up.
Speaker 5 (08:13):
I agree with Jill.
I love Pilates.
I do, but I'm not going to buyit.
And, like Jack said, I have myeye on a sister company and I
just got their profit and lossstatement.
I'm thinking about acquiringthem.
So I'm one of those franchiseesas well that might be acquiring
more.
But I think my most overhypedcategory would be food.
(08:33):
I think the margins are razorthin, labor is brutal and you're
most likely buying a job, not abusiness.
You most likely are not goingto be a business owner.
You're going to be there day today and doing the ins and outs
and hiring and firing, and itcan be a lot.
So I think you're much betteroff looking at something like
home services and something thatdoesn't have a brick and mortar
location.
Speaker 1 (08:55):
Yeah, and one of the things we're going to get into a
little bit later on in thepodcast is AI's impact on
franchising, and I think it'sgoing to be the first one to get
massively effective.
But we'll talk about that next.
Ryan, what do you got?
Speaker 4 (09:06):
Yeah, I'll add in something different.
I'll go with pet services,especially anything that
services that requires a retaillocation, and I think a lot of
people fall in the trap of thepassion project and Jill just
said it perfectly right it's thesame concept as Pilates that
just because you love dogs, youlove pets.
The reality is you're owning abusiness, and a pretty expensive
(09:28):
business.
So a lot of people do have petstoday.
There is a lot of demand forthese services, but that alone
doesn't make it, you know, agreat business for everyone I
think you're.
Speaker 1 (09:39):
I I agree with you for the most part, brian.
The only thing I would say is,if you have someone that that
say they want a strong realestate play and they want to buy
like a freestanding buildingand they want a franchise that
they could do that with.
Obviously automotive like aMidas would make sense, but I
look at like a Dogtopia and Isay, gosh, that'd be great for
(10:01):
depreciation.
Now back to where your point isabsolutely correct.
Most of our clients don't havea million plus to invest and so
if we're talking about theaverage franchise investor
that's got 100 to 500K, can youget better ROI than you can in
the pet industry?
A hundred percent.
And I agree, don't leave withpassion.
Fulfill your passion outside ofwork.
(10:23):
Go make money with yourfranchise, david what do you got
?
Speaker 3 (10:26):
yeah, it's tough to go last after this group, but
I'm gonna double down on thefitness.
Um, I'm a big fitness guy.
I my whole life I thought Iwanted to own a gym and work out
all day long.
And you know, especially whenit comes to niche, to the niche
type, like you said, the politein this five years, six years,
it changes.
Now there's something anotherfat out and people just want to
(10:47):
jump ship and go somewhere else.
Um, I do like the old schoolbodybuilding type gyms, but
again, I'm not very sure onthose margins.
I don't think they're great.
Speaker 1 (10:57):
Um, but yeah, I'm gonna double down on fitness
can't help but agree, eventhough I may or may not have
just spent what.
What did I spend at equinox insan diego?
Stupid, I mean you don't wantto know.
When we were there like we had,we were in this airbnb.
We had nowhere to go work out,so I went to equinox where I had
a membership way back in theday and they charged me they're
(11:17):
the only ones there, so theywere like right you don't have
to join or you have to pay thisright godly amount of money to
join and eat it.
Okay, so let's go to theopposite side of the spectrum.
What do we believe is the mostunderrated sector in franchising
?
For me, actually, what do youthink?
Speaker 2 (11:39):
Underrated yeah underrated.
Speaker 1 (11:40):
What do you say?
Speaker 2 (11:42):
I mean, I think it's always like a home services or
like a like we used to call themdirty businesses.
You know, they're the ones thatyou, you don't think of.
Those are the ones that do verywell, um, you know, window
washing, like we've never washeda window in our life.
Well, I mean, I guess I have,but not to that extent like
maybe some windex, um, but youknow, it's not something that we
(12:03):
were interested in, but it'ssomething that everyone needs.
And so I think people sort ofoverlook those things because
they're not shiny, they're notfancy, but they're the ones that
will actually, you know, makemoney.
Speaker 1 (12:15):
I'm going to say and I think you're right, obviously,
I mean we invested in that andit was, you know, for us last
year we were the top performingpinks franchise, so we saw it
come to fruition.
I'm going to say b2b is nottalked about enough in
franchising.
But I'm not talking about, youknow, b2b services that like
lower companies costs or thingslike that.
There there are b2b franchisesthat manage things, do things
(12:39):
like facility management, thattheir item 19s are insane.
So again it.
It's like what Jill said theseboring businesses you never
would think about.
And to Morgan's point fromearlier, they are not the shiny
object, the sexy new ice creamshop, but, man, I mean the bang
for your dollar on, say, likeB2B facility solutions is insane
(13:01):
.
David, what do you say?
Speaker 3 (13:04):
I'm going to go with senior care.
It's being talked about a lot.
Baby boomers are the largestgeneration right now and
everyone talks about restaurants, but the real wave right here
is senior care and maybe morespecifically at non-medical.
Families want to pay to keeptheir mom and dads at home.
It's recession-proofreoccurring revenue.
(13:27):
You don't need to store itfront.
So I think senior care rightnow is probably one of the most
underrated and maybe I have tochange that statement because I
think people are catching on andit's out there.
We see a lot of peopleinterested in coming to us
specifically in senior care.
Speaker 1 (13:42):
I mean we all went to a conference where all the
senior care franchises werepresenting and it looked all
their averages are going up andup and up right.
All the average revenue forsenior care franchises are
somewhere between, say, amillion and two and a half
million annually.
I mean that's insane,especially when you consider
that the investment it'sprobably like 150K all in and
(14:03):
when you consider there are somebrands out there like HomeWell
Senior Care where you can startwith five grand, boost Home
Healthcare where you can startwith a thousand, although that's
still, that's not non-medical.
But, david, I think that's agreat call out and probably the
best bang for your dollars insenior care.
Brian, what do you got?
Speaker 4 (14:20):
I'm also going to double down on the senior care
space no-transcript.
(14:51):
I think unique ways likemobility services, concierge
services, some of these moreniche types of businesses that
are just making day-to-day lifeeasier and more comfortable for
that senior population just haveamazing upside.
Speaker 1 (15:06):
You know that's a really good point.
There's another one called, andthis is one that for like,
let's say, you had your milliondollar Dogtopia investor, you
might also.
If it were me, I would showthem a concept called Town
Square.
And what Town Square does isit's a place where you walk in
and it looks like this town fromlike the 60s right, and so, for
(15:27):
someone that has dementia, theygo in.
Speaker 2 (15:29):
Maybe they see like the old car changing as the
population gets older, but itgoes back to where they feel
comfortable.
Speaker 1 (15:37):
You know that era of where they right feel familiar
because we know they're going togo back to their long-term
memory you can spend your wholeday there and um, and it's just
great for for them and it's aplace where they can be safe and
they can be happy.
Um, so that's one where someonewas saying, look, I really want
something where I can own thereal estate, where I can capture
(15:57):
the depreciation, um, alongsidelike a dogtopia or a midas or
something like that, look at atown square.
And the other thing is is thata town square, I think, is
affiliated with senior helpers?
So then there's cross flow ofbusiness.
You know this is I've beentrying to do a lot more
exercises like this, as I'vebeen working on our AI franchise
(16:17):
matchmaker with our developmentteam, and really what we're
trying to do.
I'm trying to make it as much aspossible think like us.
So like as someone answersquestions, not just, you know,
providing these random results,but actually digging deep and
thinking just along these linesof how we're talking.
For those of you listening, wehave an AI franchise matchmaker
(16:37):
where, if you're working withany of our consultants, you can
note which one you're workingwith.
It'll ask you 23 questions andit will show you franchises that
match what you're looking for.
So, with that said, morgan,what about you?
Speaker 5 (16:51):
I agree with the B2B.
I think that that's underratedand it could be anything from
like the images and graphicsigns that are just straight
business to business, or itcould be like consulting and
things that you can do out ofyour home.
So I think those aren't talkedabout enough and I think there's
a lot of them out there thatshould be talked about.
And then also, I think, withthe home services, the AI, I
(17:14):
think just kind of understandingthis difference between the
different home servicefranchises is really important
and those can be underratedbecause some of them are using
drones and they're doing doingbig contracts and they're doing
them faster and better thanother ones.
So, while there's a lot of homeservices out there, for us as
consultants the underrated onesare going to be the ones that
are using technology and usingAI and have massive support for
(17:35):
the franchisees, and I thinkthose need to be talked about a
lot more.
Speaker 1 (17:39):
Totally agreed.
I mean, look at like Cabinet IQ.
I mean those guys are bringinga lot of AI and technology into
what they're doing Cool bigprojects.
Again, it's not going to beyour 150k investment, it's
probably closer to 350,000, butreally really neat business.
Catherine, what do you got?
Speaker 6 (18:06):
for 13 years.
I live and breathe that.
So if anyone wants to talksenior care, please call me,
because I know it in my sleepand agree with what everyone
said here.
But what I'm going to lean intois I'm kind of pumped on this
aircraft detailing with RealClean.
They're the only ones in thebusiness currently doing this
and I think they've gotsomething here.
(18:26):
Definitely something to look at.
Speaker 1 (18:30):
All right, you guys, here's a quick lightning round.
Here we go.
You've got $250,000, jill toinvest.
What franchise are youinvesting in?
What?
Speaker 2 (18:43):
franchise are you investing in?
Why do I always have to gofirst?
I'm turning it back on you.
Speaker 1 (18:47):
I'm going.
Citywide facility solutions.
Their item 19 is insane acrossthe board.
The investment is pretty low.
There's actually some resalesout there that already have a
book of business Me.
Normally I would say likesenior care, citywide facility
solutions for me, Okay, go.
Speaker 2 (19:04):
Okay, Well, I was going to say senior care.
Citywide facility solutions forme Okay, go.
Okay, Well, I was going to saysenior care.
So, even though you saidnormally you say no, but I think
everything that we talked abouttoday and just the background
that we've all had with it, it'sjust especially as we're
getting older, too and we'restarting to actually be the
children that are getting thesenior care for our parents it's
just something that's soimportant and a great investment
and you feel good doing it.
(19:26):
I love that too.
Speaker 1 (19:27):
Well, and the nice thing is is that you only spent
$150,000 of your $250,000 caseand now you've got $100,000.
Speaker 6 (19:36):
We'll talk about it.
Speaker 1 (19:37):
All right, catherine, you're up.
What do you got?
Speaker 6 (19:39):
Real clean aircraft detailing.
Like I said, 250,000 minimuminvestment.
I'd also maybe get a few unitsof puddle pools because I just
love that fish.
I love that fish and it makesme so happy, and so I don't know
, you know me, I'm a puddle pool.
I'm just I'm pumping puddlepools, multiple units, or like
starting with a real, real clean.
Speaker 1 (20:02):
Catherine's going to be out there running her puddle
pools from her phone at hersoccer stars.
Speaker 6 (20:07):
All people you want to pull your phone.
High tech, it's a tech groupthat does full servicing, b2b,
b2c.
Check it out.
It is great Love it.
Speaker 1 (20:18):
Morgan.
Speaker 5 (20:19):
I'm going to go with the home services.
I'm going to go with Vodacleaning and restoration.
I think I like their businessmodel.
Again, excellent marketing.
It's very catchy, just likepinks or puddle pools.
It really catches your eye.
But it's two in one You've gotthe cleaning with the carpets,
but you also got the restorationside.
Speaker 1 (20:41):
No snow fence available and demand never goes
away.
Speaker 4 (20:43):
Love it, brian.
I'm going with Monty's HandymanService.
Yeah, it's nice.
A home service brand.
Very fragmented space, nonational leader and just
untapped demand across thecountry.
But also a great service to bein the house, to be the first
company to build a portfolioaround.
(21:03):
So you want to add any homeservice brand to your portfolio.
You can easily add that off ofyour handyman services.
Speaker 1 (21:12):
That's a new one too, that one literally just dropped
.
All right, david.
Speaker 3 (21:18):
I'm up again.
Hopefully the dogs don't bark.
I think Catherine also took mypick there.
But I'm real clean, I thinkdogs won't bark.
I think Catherine also took mypick there.
But with Real Clean I think thecat's out of the bag.
I'm actually heading toconfirmation day next week
taking a look at Real Clean forSouth Florida Really excited
about it.
I'm also really bullish onPinks.
(21:39):
With $250K you can stack twohome services, not just Pinks,
home services in general.
You could stack two of them ontop of one another and scale
from there.
But home services for sure, andI'm going RealClean as well.
Speaker 6 (21:54):
Glad we live in different states, david, glad
we're on opposite coasts.
Let's go, okay.
Speaker 1 (22:01):
I mean RealClean seems to me like all the markets
where you've got a strongprivate airport, you're going to
see it go pretty quick andagain, it's very different, but
it's very necessary.
And I was watching.
Like I said, I watched theseguys clean a big Delta plane the
other day in like five minutes.
It's insane.
(22:21):
All right, let's switch gears.
Obviously, we're seeing aichange everything.
Um, we've now added a aifranchise consultant to our team
, as I mentioned, and we'retrying to get it more to think
more and more like us.
That's how it's changing.
Franchise insiders is that weeven?
I mean it's to the point nowwhere I actually use it as a, as
(22:43):
a sort of second spot check onfranchise matching for our
clients.
Here's what I'm thinking whatis the AI franchise matchmaker?
And so, when we work with youguys, you're going to get really
two angles there.
But as far as how I see AIimpacting franchising man, as I
look, I don't know if you guyshave seen this, but like
Chipotleotle, kava, both of themhave deals in place to have
(23:07):
robot workers, essentially theassembly line of you know your
burrito bowl, or what do we callthat?
What even is that your pitabowl?
a grain and so, essentially the,they're going to have ai robots
now making your Chipotle andyour Cava and that to me, I
think, is going to make foodvery appealing to owners again.
(23:29):
Because I'll bet you'll seeright now where those margins
are very slim and I think,morgan, you mentioned that
earlier.
Once you have this sort of AIassembly line, I think you're
going to see those margins afteryou've ported the robots and
I'm sure it's like anything.
I'm sure there are Section 179.
I'm sure you can finance them,but you're going to see margins
really go up.
(23:50):
On food franchising, but ofcourse it's going to go through
its teething period.
But yeah, david, what are youseeing in terms of AI and
franchising?
Speaker 3 (23:59):
Look, I'll be the first one to admit that I'm
obsessed.
I use it every day.
Now we leverage AI.
We still got to verify what AIis spitting out is accurate, so
I'm pretty optimistic on AI.
Speaker 4 (24:17):
Yeah, brian, what do you say is a lot of these
companies.
They have the resources and themoney to actually invest in AI
across a big system.
So when you think about dialingin marketing, finding your
target customer, you'll do thatmuch cheaper than you have in
the past.
And I think what you're goingto do especially home services,
some of these areas where themarketing expense is one of the
(24:39):
biggest expenses you're going tosee a huge separation between
franchise systems doing thisreally well and mom and pop
operators, and I think that'sgoing to be as we continue to go
down this road is really goingto create a competitive
advantage for a lot of franchisesystems that are able to get on
board and utilize AI veryeffectively.
Speaker 1 (25:01):
I think, as the CEO of NVIDvidia said, uh, ai will
create more millionaires overthe next five years than the
internet did in the first 20,and I personally, I think that's
100.
True, and and for those of usthat can learn to really utilize
it and master it, um, you know,you can't just go and type in.
You know, find franchises formy clients, I mean you.
(25:22):
You have to essentially get aito understand you and you need
to understand it, and it's likeworking with, with co-worker.
It's, it's managing it, it'sworking with it.
As david said, it's going tomake some mistakes, so you've
got to double check it.
Um, but to your point, brian,it does make us all so much more
efficient, um, so much more umsort of it.
(25:43):
Just the information flow, theway we now search on the
internet.
It's so much moreconversational and for all of
you out there, for those of youembracing it, I truly believe
that if you use AI andfranchising, it's going to help
you grow faster than than youever would have imagined a few
years ago.
Morgan, what do you got?
Speaker 5 (26:00):
Yeah, I think.
I think the goal as a franchiseowner is always to work smarter
and not harder.
So if you're not utilizingthose, you're working too hard
and burnout is real.
I mean, we're all clearly hardworkers type A, resilient, and
that's all great, but you canget burnt out in any business.
So use what you can and usethose tools and I'm even using a
virtual assistant, you know,and I would like to expand to
(26:22):
two of them and I think the callcenters are getting better than
ever for the support forfranchisees because of all this
technology.
So use it and understand it,but don't forget that it's there
and it's there to help you worksmarter and scale faster.
And I think that you're goingto see a lot more people leaving
their corporate jobs, cominginto franchise ownership,
business ownership becauseeither their job's getting
(26:43):
replaced or they're seeing howmuch smarter you could be
working and you could be scalinga lot faster and making more
money than they are in theircurrent jobs.
Speaker 1 (26:51):
Well said, catherine.
Speaker 6 (26:54):
Yeah.
So it is such an exciting timeto be a franchise owner with AI.
Oh, my God.
I will say this.
I was reflecting on this lastnight in preparation for this
exciting podcast this morning.
So, harnessing AI forefficiency absolutely, Multiple
(27:15):
of you touched on that, but Iwas thinking about it and I'm
doing outreach to preschoolsright now and with ChatGBT5,
that was recently launched,versus ChatGBT4.
Oh, my goodness.
So ChatGBT4, for example, youwould put in the inputs, like
you need to understand it, youneed to get it.
Like you said, Jack, tounderstand you right, You're the
(27:36):
creative director.
So I love that.
For me, I would consider myselfa writer, but writing took me so
long.
It took me so long andrewriting and organizing my
thoughts.
So with AI, it's just sped upthat process tremendously.
And then you know, withChatGPT4, putting in the input,
(27:58):
it would put it out.
Now, with ChatGPT5, it alreadyknows.
It's like I'm putting in what Iwant and it's like do you want
this to be a scroll stoppingpost?
Do you know?
It already knows the prompts,so it's just even from.
So I go back to my story ofpreschool outreach, which I've
been trying to get to since Iopened two years ago and just in
(28:18):
the last, you know, working onit yesterday, I'm like, oh my
gosh, I can get to this so muchmore quickly with these tools.
With the way what AI hasdeveloped in the last six months
, it's going to continue to leapevery six months.
So you know, it's understandingAI, it's knowing how to use it.
So it's going to help franchiseowners scale faster than ever
(28:40):
before at a fraction of the cost.
Right Like it.
Just that's the beauty is thecost that it takes to operate a
business in general franchise.
With AI, you can just scale somuch quicker, keep more money in
your pocket.
Yeah, so, anyways, that's wherethat's where I'm at, Very
(29:02):
excited.
Speaker 1 (29:03):
I think that's right.
I think you can see now, a highschool dropout armed with AI,
who knows how to use it, can bemaking a ton of money in a very
short period of time, can becommunicating so much more
effectively and professionallythan ever before since it's out
there.
Hey guys, I have a question.
So what trends do you guys seein 2025 that franchisees need to
(29:27):
really be aware of?
And I'll kick us off.
This is something Jill and Italked about before getting on
here.
I think it's that the buyersfor your franchise are changing.
Private equity is in thefranchise world in a big way.
Equity is in the franchiseworld in a big way, and there
are things that private equitylooks for in terms of buying
franchisees.
(29:47):
But yes, for those of youlistening, private equity
absolutely.
If you are a great operator andyou have a certain EBITDA that
you have hit, private equitywould love.
Private equity would love torecapitalize you and arm you
with more money to go grow amuch bigger franchise, and it's
a benefit to you, the franchiseowner, and it's a benefit to the
(30:08):
franchisor, because if you're astrong owner, like everyone on
this call, well now you imagineif you guys now had 20 million
bucks to go up in 20 units withwhat you know, I mean, how
effective could you be?
I mean, so that's the thing Nota lot of people, when they go
into franchising, are theythinking about.
Well, private equity isn't justcoming in from the top, they're
(30:28):
coming in from the bottom withfranchisees and rolling up
multiple units.
So my point to all of youlistening out there is that you
now have so much potential and Idon't know how long this will
last, but certainly the nextfive years it should be a strong
continue to be very strong exitopportunity or recapitalization
opportunity For those of youthinking about franchising.
(30:48):
Even if you're just startingwith one unit, get good at it,
be really good at it and grow.
As you start to grow and makemoney, then you can start to
acquire more units.
But start to think about this,and so you know the team.
We all talked about it.
We actually created another appfor you guys called the
Franchise Exit Calculator, andwhat you can do is essentially
(31:11):
take what industry you'relooking at, take how much you
can invest and then have anaiming point.
I want to, you know, get abusiness to a million dollars
EBITDA and it will tell you howmany units you should have to do
that.
So, for any of you again whowant to get access to these
tools, text us at 305-710-0050and make sure you mention which
of us consultants you're alreadyworking with.
(31:31):
If you don't already have aconsultant on our team that
you're working with, don't worry, we'll get you assigned.
But that's my thing I thinkpeople need to be aware of as
franchisees is that there aremuch bigger exits out there if
you just grow a great business.
So, with that said, catherine,what do you think franchisees
need to be aware of in 2025?
Speaker 6 (31:52):
I think that a lot of these businesses and franchises
are leaning in just the onesthat are embracing technology,
the ones you know hearing aboutrolling suds with the drones and
cleaning the five stories plus.
That was really cool, and soyou want to when you're vetting
(32:16):
these different franchiseopportunities.
If it were me, I would belooking for a partner who's
really innovating and embracingtechnology and what that looks
like and what that roadmap isfor them, because again and I
know we keep talking about itit's not just AI AI technology,
robotics, drones those that areleaning into those things have a
(32:40):
team focused on that right atthe top and innovation.
I think that's important andjust something that you should
be thinking about in yourconversations when you're doing
your calls with franchisees,when you're on your calls with
the franchisor.
Those are just things you wantto understand and think about,
(33:03):
and I think that's what I wouldlook.
Speaker 1 (33:09):
Yeah, I think that's really well said and I think in
this series and we're going tobe bringing you this new format
where all of us are sort ofdoing this roundtable at least
once a month AI is going to be ahuge part of this moving
forward, because it just isright, like you said before,
catherine, there's a massivedifference between chat GPT-5
and 4.
(33:29):
Claude is getting better by theday.
What about x's ai?
What about all the different,the other ones that we have?
Speaker 2 (33:36):
I'm trying like gemini does he actually.
Speaker 1 (33:40):
Yeah, he doesn't like gemini's trash um let's see
what trey says.
So if trey says trash, I'm not,I'm not going there you know,
what the most fun is actually,um is to have them work,
actually use them.
Yeah, so, like, as I'm usingone, I'll say to claude hey,
chat gpt said this what do youthink?
(34:00):
And it's kind of fun to havethem battle it out a little bit.
So, you know, make sure you'reusing not just one and getting
the different personalities thatare out there.
Morgan, what are your thoughts?
Speaker 5 (34:11):
I think a big trend, uh, for 2025 that we haven't
talked about, but is kind ofwhat we're talking about, is
labor.
I think that if you don't havea good labor strategy, you don't
have a good business strategy.
So, when talking to thesefranchisors and learning more
about the businesses, I thinkall of us on this call have been
asking how are you supportingyour franchisees, finding people
(34:32):
to work for you, what kind ofsupport do you have with your
call center?
Are you using virtualassistants?
Are you using AI?
All revolves around labor.
So I think that labor is a bigtopic that isn't really
necessarily a priority on thecalls, but it really should be,
because that's how your businessmodel and strategy is going to
succeed.
So, yeah, using all those toolsto make sure that you're hiring
(34:54):
properly and keeping youremployees happy will allow you
to scale.
So I think people are talkingmore about that on the calls
than ever before is how are yousupporting the franchisees and
how are they finding employees?
How are they keeping theiremployees?
Yeah, so I think that's a bigtopic.
Speaker 1 (35:11):
Do you like your assistant, Morgan?
Yeah, so I think that's a bigtopic.
Speaker 5 (35:14):
Do you like your assistant Morgan?
I love her.
She's a hard worker, she asksall the right questions and, not
unlike AI, she started to learnmy personality.
So she's already jumping aheadand being like hey, last month
you were asking me to do thesethings, are you ready to do them
again this month?
And that's so helpful becauseI'm moving 100 miles an hour, we
have two kids, we have multiplejobs, multiple streams of
(35:36):
revenue.
So to have somebody kind ofbacking me up and saying I know
your personality, I know yourworkflow, let me help you out.
Or I ghost her for a while, I'mtoo busy to answer.
She'll say I know how busy youare, can you answer these
questions so we can get this offyour plate.
And I love that.
Speaker 1 (35:53):
That's awesome.
Speaker 4 (35:55):
Ryan, what do you got ?
One of the things I'm seeing alot of is people looking to buy
an existing business, and I workreally with two big groups of
people.
One is I work with a lot offranchise resales, so I do try
to help people find existingbusinesses.
I also work with peopletransitioning from corporate to
business ownership, and I thinka big thing I see that's always
(36:18):
a red flag is trying to look atitem 19.
We're trying to look at what SDEis and thinking of it as a
paycheck.
You are no longer an employee,you're not working at a company,
and earnings and a paycheck aretwo totally different things,
right?
And so I think one of thethings that really just try to
get people to take a step backand think about is you're not
(36:38):
skipping the startup phase bybuying an existing business.
You're going to pay a multipleor you're buying someone else's
headache because it's notworking out.
So it's not a free lunch, andone of the things I would just
do is take a step back and lookfor a business you actually want
to own three, five years downthe road.
It actually fits for you andyour lifestyle, versus something
(36:58):
that's just cash flowing or hasan SDE on it right now.
Speaker 1 (37:04):
Great point, yeah, absolutely Fabulous point, david
.
What do you got?
Speaker 3 (37:08):
I'm seeing a lot of clients come to us and they I
know everybody on this call hashad this already where they want
this business in a box, whereit's on autopilot, like, yes,
you're buying a franchise, yes,you have SOPs and you have one
leg up on startup, but it's notautopilot, it's still a business
.
It doesn't just show up and runitself up and run itself.
(37:34):
I've been very blessed to havea general manager from almost
the very beginning of my pinks,but he just took a week off
vacation, which he well deservesfrom what he's built for my
pinks.
And I am going crazy right nowdriving to and from from Orlando
to Port St Lucie and realizingthat myself I made a mistake and
I put too much on one personand where I wasn't learning the
(37:55):
business ins and outs, and nowthis week has just been like
breathing out a fire hose.
But I'm going to tell the storyto all my clients because I
don't want them to think thatthey're just going to buy a
pretty shiny object and hit theground day one and somebody else
is going to run their businessand they're just going to
collect the check.
Just not reasonable.
I think that's a great pointand straight segue into our next
topic, which is and they'rejust going to collect the check.
Speaker 1 (38:13):
Just not reasonable.
Yeah, I think that's a greatpoint and straight segue into
our next topic, which is thebiggest misconception we see
potential franchise investorshave.
We were talking about thisearlier and to us it's always
people not understanding whatthe real financial runway of a
franchise is right.
(38:33):
So it's like you'll talk to um,a uh home services franchise
and it says you know all ininvestment 150k and someone says
, great, I've got that or I canget that with financing.
But in so many cases you aregoing to likely leave your job
to go start this business.
It's really hard to keep yourjob and run a franchise.
And if you think hiring a gmfor 80 000 a year really hard to
(38:54):
keep your job and run afranchise, and if you think
hiring a GM for $80,000 a yearis going to grow your million
dollar business, you'reabsolutely incorrect.
In some cases you can add agreat GM from day one, like
David has done, but more oftenthan not I mean, think about
this If you're sitting there incorporate America making 80
grand a year, are you the typeof person that can grow a
(39:14):
multimillion dollar business?
I don't know the exact answerto that, but I've got a good
idea.
So I think, being financiallyprepared.
So if the franchiseinvestment's 150K and it takes
anywhere from, say, six to 18months for you to start drawing
a salary and replacing yoursalary, what kind of cash runway
do you have to start drawing asalary and replacing your salary
?
What kind of cash runway do youhave to take care of yourself
(39:36):
and your family as you grow thatbusiness?
Because if you go in short,then you're just going to wreck
the business.
You're not going to have enoughfinancial runway.
You have to be, you have togive the business time.
And so sometimes people willsay well, you know, I'm, I'm.
Why should I do that?
Why should I go through thathard period when I can just stay
in my job and make my, mycompany salary?
Well, you can't sell your, yourjob for five times EBITDA in
(40:00):
seven years.
Um, but you can.
Probably you can do it with agood franchise.
So it's worth it to put thattime in.
But you want to make sure thatyou are capitalized, not only to
grow the business, but thatyou're capitalized to live your
life.
And it doesn't mean, like I seesomeone yesterday, someone on
LinkedIn, saying you shouldn'tbe buying fancy things and you
shouldn't buy cars and youshouldn't do this, and that I
(40:21):
don't think any of us have theright to tell someone how they
should live their life and whatthey should and shouldn't buy.
I mean, that's your choice.
I've always felt like youshould be able to do the things
that you like.
You like going out to dinner doit.
You want to drive a nice car?
Do it, but don't wreck yourlife.
So make sure you have enoughmoney both to fund the business
and to still live your life asyou're growing, because you're
(40:41):
going to have a lot of fun butyou're going to have some hard
moments, so you want to still beable to do the things that make
you happy.
David, what do you say?
Speaker 3 (40:54):
I, I mean, you nailed it.
I was going to talk aboutworking capital and
misconception, that justlistening to the franchise or
when they tell you you know thisis the number on the item 19.
You know, you need to think,worst case scenario.
I just have my partner on thedeal that we're working say that
the item 19 says we only need Xamount of money and I'm like,
well, add about 30, $40,000 tothat, just in that, just in case
(41:16):
.
I'd rather be overcapitalizedand I learned that the hard way.
Also with Pinks I took a gambleand it's worked out well for me
.
But I don't want to go to thedistrust again and now I'm in a
good place and I just want tomake sure the next business I
start I'm overcapitalized.
So misconception, justbelieving everything that R19
says taking a step further.
Speaker 1 (41:40):
Yeah, and that's.
I think that's where it'simportant to make sure you're
doing proper validation and talkto five to seven franchisees.
Talk to someone that's been inthe business at least three
years.
Talk to someone that left thesystem.
Really hear it from thefranchisees.
For all of you guys out there,all of us on this call, do
franchisee validation.
I don't know of one franchiseethat's out there trying to sell
franchises.
When we talk to franchiseowners, we're giving them as
(42:03):
much helpful information aspossible, because we know, once
you join us on that side, wewant you to be aware of what the
realities are, so you don'tcome in thinking it's easy.
Brian, what do you think?
Speaker 4 (42:11):
You literally just took everything I was going to
say.
But it's back to validation,and that's an advantage of
franchising versus evenindependent business.
You have owners who have walkedthe walk of what you've done
and they know the reality.
And it's just, I also say, notjust validating proper
validation, asking the rightquestions, and it's not are you
(42:35):
making money?
Do you enjoy it?
Right?
It's getting a real sense ofwhat does your one look like,
what were the unexpectedchallenges, how did you scale
and how did you finance thatscale Right?
So, going into these businessesand not just being excited
about the brand or excited aboutthe space, but really
understanding what you need tosucceed and what it looks like
(42:55):
to actually run that business ona day-to-day basis.
Speaker 1 (43:00):
Love it.
Love it, Morgan.
What do you say?
Speaker 5 (43:04):
Yeah, I agree with everything.
I loved the validation callsand I still love them.
I like talking to futurefranchisees about my own
business and being real andhonest, but just making sure
you're talking to a topperformer absolutely, but also
talk to someone that maybe isn'ta top performer.
I started it thinking this wasgoing to be part-time like
anybody else and maybe a littlebit semi-passive.
And now it's my full-time andI'm very passionate about it and
(43:26):
it's my day-to-day and I loveit.
But certainly didn't start thatway.
So, yeah, talk to as manypeople as you can and validate
those franchisors and make surethat you have the right support
going into it.
Speaker 1 (43:39):
Perfect Catherine.
Speaker 6 (43:42):
Yeah, so, as I do, the validation calls too for
soccer stars, and I think thatit's just really understanding
the work that needs to go intobuilding and starting a business
.
And you know a lot of peoplecome to me.
Oh, we hear you're the MVP,you're the top performer.
I'm like yes yes, but I might'vebeen the MVP in that first year
(44:03):
, but guess what?
I was working 80 hour weeks.
I was working on the businessseven days a week, every minute
I could that I wasn't with mykids, you know.
I was coaching 13 classes.
I was doing everything.
So it took a lot of hard workto get there.
But guess what?
Now I'm stepping back.
I have a manager.
And back to what David issaying about his manager.
(44:25):
My whole thing was if I'm goingto own a business, I need to
understand the ins and outs ofthe business.
I need to be up.
That's why I was coaching 13hours a week for six months,
because I needed to.
How was I going to hire, retain, train, hold accountable
coaches if I didn't fullyunderstand what I was out, what
our product was, the classesright.
(44:45):
And then how am I going to sellthis to preschools and to
schools if I don't fullyunderstand what it is that I'm
selling?
So I think it's reallyimportant to fully understand
your business.
You don't need to be out youknow analogy about their
coaching for six months but youneed to understand.
You know the ins and outs,because you can't manage someone
if you don't understand thatyou can't manage them.
(45:05):
Well, I don't believe.
And now I have a manager who'smy right hand, who is incredible
, and so now I am in a place andlike, quickly with the business
.
Right, you want to be workingon the business, not in the
business.
So I was in the businessbusiness owner model for, call
it, those first six months andthen now, with the manager, it's
more of that executive ownermodel where I can step back and
(45:26):
I can manage the manager, butI'm still in the business all
the time because I have loftygoals, I'm buying a second
territory, I'm expanding, andthat's what that is and that's
what I want and that makes mevery happy.
But it's just the level of work.
And I hear some people oh well,you know, I can't do weekends
on these validation calls, I'mjust going to be able to work,
(45:48):
you know, these few hours andit's like, okay, but you're not
going to be generating therevenue that you want to
generate.
That's just the reality.
So if you're okay with bringingin a lot less, then that's okay
.
But just being honest with that, right, what you're putting in
is what you get out.
And I think that's wherecorporate America and where I
(46:10):
got a little frustrated.
I felt like I put in a lot.
And you know, then, at the endof the year, I'm told, oh well,
you're only going to get 50% ofyour bonus because the company
didn't hit the financial goals.
Well, what about me?
What about my effort?
What about me working 12 hours,you know?
I mean I, you know.
And so this with a business anda franchise, it's like yeah,
(46:31):
I'm working a lot, but like Isee that return and it's awesome
and that makes me happy.
So I'm done, drop my that's sowell said.
Speaker 1 (46:43):
And you know what, catherine?
That's part of what drove Jilland I into into business
ownership too is that same exactthing.
Here's your goal for the yearUm, um, and your compensation
doesn't change, but you betterhit your goal.
Yeah, um, and I'll never forgethaving that meeting and saying,
nah, that doesn't work for me.
Yeah, if you want me to hit agoal, then if I hit that goal,
(47:03):
then it should come with areward.
And you're exactly right withthe business that you own, you
get to set that goal, um, and Ithink that's just part of what
makes it so rewarding.
For winding down this, I have aquestion for you guys,
two-pronged One, and this goesto you first what was the first
business that you owned?
And two, is there a podcast orbook that you would recommend it
(47:28):
doesn't have to be aboutbusiness ownership, but, for
people who are building abusiness, a podcast or book that
you think they good?
Besides this, one.
Speaker 2 (47:36):
I mean, I personally like anything Cody Sanchez out
there.
I think she has really goodinformation.
I don't 100% agree witheverything she talks about, but
I do think there's a lot ofreally good snippets out there.
Whether it's in her socialmedia or any podcast that she
does, I think that she does givevery good advice to new
business owners.
So, um, that's who I am.
Speaker 1 (47:59):
And what about your first business?
Speaker 2 (48:01):
I mean we've had many businesses.
Speaker 1 (48:02):
That first one.
Speaker 2 (48:04):
T-shirts oh yeah, T-shirts.
Yeah.
The first business that I ownedwas a t-shirt company and made
hashtag t-shirts and sold themon social media and on Etsy.
Speaker 1 (48:18):
She had like a whole following.
Literally like at night, she'dput trade asleep and she'd be
cranking out these t-shirts withlike hashtags, like this is
actually pretty neat littlebusiness.
Speaker 2 (48:28):
It was a good business.
I took it in the wrongdirection at first.
It was a super simple businessmodel because I could knock out
25 hashtags on one piece of heattransfer vinyl, so the cost was
like zero to make anything.
So the markup was insane.
Then I started doing customorders and it kind of got out of
(48:48):
hand.
And then Jay got older and Ihad to actually do some real mom
stuff.
But it was fun at the time.
It was a good creative outlet,happy I did it.
Speaker 1 (48:57):
We learned a lot yeah , I mean, and then I tried to
copy jill.
I started an online uh, surfshop t-shirt business, which
nobody cared about.
But do you know, what was greatabout it is that I learned
google ads.
Um, I learned building awebsite, and so when Jill and I
went to start Franchise Insiders, we actually used a lot of the
(49:22):
lessons from both Hashis andCertificative to create a real
business, and I still maket-shirts.
And Jill still loves to maket-shirts.
So, even though they were smallbusinesses, they were awesome
learning points for us.
Catherine, what about you?
Speaker 6 (49:34):
Well, South Ccer Stars would be the first
business I've owned and I Wait asecond, what you and Morgan had
a business.
Speaker 1 (49:42):
Oh, how could I?
Speaker 5 (49:43):
forget, don't forget.
We were business owners when wewere little kids.
We started our own business 32.
Speaker 6 (49:50):
A couple of them.
Speaker 5 (49:50):
We found out there's two of them, two we started we
thought there was one.
Speaker 6 (49:53):
Right, so the scrunchie business that we had.
How old did we think we were 10?
We were like 9 or 10.
Speaker 5 (50:01):
9 or 10.
Speaker 6 (50:02):
And then, prior to that, it was selling holly
around the holidays Holly.
Speaker 5 (50:09):
Around the holidays we would sell a little holly
with little bows and sell itthrough the door.
Yeah.
Speaker 6 (50:13):
Door to door sale.
Speaker 5 (50:16):
We had to knock on every door hey didn't you two
launch a new podcast too?
We did, yes, we did.
Speaker 1 (50:25):
Where can people find that?
What is it?
Speaker 6 (50:27):
It's called best friends in franchising BFFs with
Morgan Nolan, catherine Allen,and you can find it on uh Apple.
Yeah.
Speaker 5 (50:38):
Yeah.
Speaker 1 (50:38):
Yeah.
Speaker 5 (50:40):
It's out there, it's live.
We have one episode.
The next two are coming shortly.
Yes, um, and it's just ustalking about kind of what we
talked about here, but more inthe daily lives of two moms that
are franchise owners and bestfriends since childhood.
Speaker 6 (50:53):
Yeah, and in the daily lives of two moms that are
franchise owners and bestfriends since childhood.
Yeah, and just the podcastpiece, jack.
So I'm going to do a major plugfor Growth Day, the Growth Day
app Brendan Burchard, ed Miletzon their lot.
It's amazing.
It has been transformative forme.
I don't have a therapist.
I don't have a business coach.
(51:14):
I have Brendan Brouchard in theGrowth Day app.
I use it daily.
He does a daily fire.
It's all about mindset.
There's so many resources onthere with the top mindset
coaches in the world.
If you're going to own your ownbusiness, you're the CEO of
your household, right?
Your business.
It has been transformative forme and it has made me such a
(51:37):
better leader I I can't sayenough.
So growth day app.
Speaker 1 (51:41):
Brendan, you know I totally forgot to add my podcast
, Uh, I would say Peter Atiyah'spodcast for those of you
interested in health andlongevity, because as we're
building these businesses, wewant to stay mindful of our
health.
And then I have a book for allof you listening and all of you
on the podcast.
It's a short, fast book.
It's called the Richest man inBabylon and it's a killer book
(52:02):
about managing and buildingwealth.
It's a I don't know, it'sprobably a thousand years old,
but it has great lessons in it.
All right, Morgan, didn't meanto steal your thunder.
What's your podcastrecommendation?
Speaker 5 (52:14):
Recently in it.
All right, morgan, didn't meanto steal your thunder.
What's your podcastrecommendation?
Recently I've been just kind ofin and out of Kim Daly really
fast, just kind of getting somesome hype for me for the day.
But I am currently listening tothe audio book for Kim Perel.
She came out with a book calledmistakes that made me a
millionaire.
She's been on book tour and soI'm currently listening to that
right now.
And then, outside of our littlescrunchie and holly business,
(52:40):
that was my first business, butthen I've always kind of worked
for myself.
I tried not to and it didn'tfit my personality very well.
I hated the hours.
So I was.
I own my own interior designbusiness and I still do interior
design sometimes.
And then the corporate eventswas all me too, and the knot
gave me an award for that.
So I still do event planning,but very little.
I do one event a year for myschool district.
(53:00):
But yeah, being my being my ownbusiness owner has been part of
my life for a long time, itturns out.
Speaker 1 (53:06):
Wow, that's super.
I didn't know that with them.
Did you know that that's socool?
Speaker 6 (53:11):
That's something new every day, jack, every day.
Speaker 1 (53:16):
Look at that, Brian.
What do you say?
Speaker 4 (53:23):
I started junior high , junior high, through high
school, I had a lawn carebusiness in my hometown, so I
cut a lot of grass and as anadult, I will only hire now
franchises to come and do anyoutdoor maintenance works.
I never want to mow grass againin my life, but it was a great
first business and then I'll gowith a book rather than a
(53:43):
podcast.
So one that I really like andrecommend for anyone looking at
this transition is Atomic Habits, and I bring that up because
this can be an overwhelmingprocess.
If you start thinking abouttrying to do everything at once,
if you dial it back to justgetting 1% better a day,
learning 1% more, this processbecomes much more digestible,
(54:05):
whether it's finding a businessor getting in and actually
scaling Awesome.
Speaker 1 (54:11):
Very cool, david.
Last but not least, Awesome,very cool.
Speaker 3 (54:28):
David, last but not least, bought a business was
because of cody sanchez, andhere's one of her books, and I
think pretty much named everybook that I had in front of me
and that's, that's the path Iwent down and I just like I went
from reading zero books for 20something years to reading 20 in
the past six months.
Uh, I've become obsessed witheverything in the wealthy
(54:48):
franchise, uh, franchisee and Imean brian just nailed it,
atomic habits Got them all righthere.
Uh, just became a book, warmand and full disclaimer.
I love listening to the audio,I follow along, but my reading
comprehension is terrible, so Igo full audio book.
Um, and podcast.
You know, like I said, codySanchez is the reason that I'm
(55:10):
here today and I, cody Sanchezis the reason that I'm here
today and I I listened tocontrarian thinking and also the
diary of a CEO with a StevenBartlett.
Uh, probably two of my favoritepodcasts on YouTube right now.
Speaker 1 (55:21):
Awesome, Very cool.
Well, thank you guys.
This has been a lot of fun.
Um, for those of you listening,um, we're going to have next
week a franchise owner fromSharky's Cuts for Kids.
I don't think any of us talkedabout that.
We didn't Haircutting We'llhave to talk about that next
time but that's a franchise thatwe have been working with since
2017.
It's not the most flashy, butyou're going to get a sense of
(55:42):
why this multi-unit owner hasbeen so happy with her
investment.
We're going to have thatconversation with her next week
and thank you to all of you guys, the team, for being on the
podcast today.
Hi everyone, Welcome back to the.
We Bought a Franchise podcastand today we have a very special
episode.
We're kind of mixing things up.
So for those of you that followus, that listen to our podcast,
you know that we've expandedour team and added a whole team
of franchise consultants.
Our whole concept is franchiseowners helping future franchise
(00:20):
owners, and so today what wethought we'd do is have all of
us come on and just sort of talkabout things that are happening
in franchising, just give youguys real talk of what's
happening in the industry.
So from there, what we'd liketo do is maybe talk a little bit
about each one of us, who weare, maybe our hot take, and
then we'll get into it.
So, Jill, why don't you startoff?
Well, Jack and I run theFranchise Insiders.
(00:41):
Why don't you start?
Speaker 2 (00:41):
off Well.
Jack and I run the FranchiseInsiders and we've been really
excited to add to our team.
So we're excited to share ourteam with you guys today.
Speaker 1 (01:00):
But essentially, we've been doing this since 2017
, and we love helping peoplefind franchises To kick this off
today, and I want all of us tokind of talk about a hot take
that we have in franchising.
You know, for me it still comesdown to if you're going to do
this, if you're going to be abusiness owner, you should want
to be really good at it, like itfeels good, and you're going to
hear from everyone on our team.
Everyone on our team has donesomething very special in their
franchise has been a leader, hasdone something innovative, has
(01:23):
been an MVP.
It feels good to win, and whenyou lead a team the right way,
they really respect you for it.
So my thing is stop thinkingabout absentee and passive
franchises and start thinkingabout how you.
This is a part of your lifestory building a business and
being successful with it.
And with that said David Samwon, kick us off, sir.
(01:44):
Tell us about you and your hottake.
Speaker 3 (01:48):
Thank you, jack.
Thank you, jill.
My name is David San Juan.
I'm a former SWAT officer andcorporate security investigator
turned entrepreneur, and I own aPinks franchise and scaling as
we speak.
My hot take is home services, Ibelieve is a real goldmine, and
forget the fast food brands.
(02:08):
I'm bullish on home servicesand blue collar workers.
Speaker 1 (02:13):
Love it.
Thanks, David.
Speaker 4 (02:14):
Brian.
Hello, I'm Brian Gross.
I spent about 15 years in thewealth management space and then
about two and a half years agoI bought my first franchise in
the home services space, acompany called Art of Drawers.
I spent a couple of yearsscaling that up and recently
just had an exit myself.
My hot take is the bestfranchise for you has nothing to
(02:37):
do with what is the hottestbrand or the fastest growing
franchise right now.
Speaker 1 (02:43):
Perfect, and you know Brian has brought all this
financial wherewithal to thecompany.
It's no wonder we've beenchurning out these new apps that
help you guys with financialplanning.
If you want to know how we canhelp you determine how much you
can invest in a franchise, howyou can plan for an exit, we
have some killer new apps thatyou guys all will want to try.
So definitely make sure thatyou text us 305-710-0050 to get
(03:05):
your hand on those apps.
Morgan, you're up?
Speaker 5 (03:08):
Hi, I'm Morgan Knoller.
I was previously in corporateevent planning and I am a
current Soccer Stars franchiseeout in California and I had the
award last year for communityimpact for helping other
franchisees, which led me todoing this and trying to help
other people find their theirbusiness.
And, um, I think my hot take isdon't get too attached to that
(03:31):
sexy brand name.
Let's find the right businessmodel that fits you and will
help you scale bigger andprobably faster than that one
that you're you've got your eyeon.
Speaker 1 (03:42):
Love it, catherine.
Last but not least, Hi everyone.
Speaker 6 (03:45):
I'm Catherine Allen and my franchise journey started
with the Key, formerly HomeCare Assistance.
I was there for 13 years,worked alongside Jack for a few
of those and, yeah, I wasdirector of marketing there so
really had a chance to build upand support over gosh 130
(04:06):
franchise owners throughoutNorth America and Australia.
Love that, loved helpingentrepreneurs build their
business.
I then bought a soccer starsfranchise, also in California
and in the Bay area, and I wasthe MVP in the first year.
I am still holding the top for,I think, revenue.
(04:28):
I look at that rack and stackevery week.
Every week it comes out, and myhot take for franchising is
that the future belongs tobusinesses that blend AI and
humanity.
The companies that are going towin are those that can connect
deeply with people, robots,machines they can't replace
(04:53):
humans yet, and so that is wherethose leaders, those innovators
you know franchises being thatmayor of the town, you're going
to win.
You're going to win all day.
Speaker 1 (05:08):
Let's, let's dive into this and for those of you
that are, they're listening,this is going to be fun.
Okay, we're going to dive inand we're going to talk about
real stuff that we see happeningin the franchise industry.
Um, first things first.
I want to talk about franchisecategories that we think are
overhyped.
Um, I got to tell you there's alot of buzz.
First of all, I'm going to tellyou the thing I think is most
overhyped buying an existingbusiness.
(05:30):
There are some people out therethat make it sound like it is
the greatest thing on earth.
And I got to tell you somethingif you think buying a business
from some mom and pop who areretiring and who want to sell it
to you for pennies on thedollar, if you truly think that
(05:52):
is reality and that that existsfor you on BizBuySell, you're in
for a rude awakening.
Most of what's on BizBuySell isjunk and, by the way, most
great franchise opportunitiesthat are for sale, franchise
owners sell to franchise owners.
So for those of you that arethinking how wonderful it would
be to buy a cash flowingbusiness and it's sitting there
waiting for you beautifully onbiz by self Wrong, there's a
reason.
Speaker 2 (06:07):
It's on biz by self.
But yeah, I agree with Jack too.
I think purchasing a franchisethat's established and running
like David did, that is a wholedifferent ballgame.
Speaker 1 (06:19):
Right.
So franchise owners that'sreally a massive acquisition.
Strategy for franchise ownersis to grow their business, get
it to the point where they'restable They've got a team that
can do it and then go buy otherlocations.
So that's my overhy withfitness, and so you just need to
be careful.
Speaker 6 (06:36):
You want to be thoughtful?
Um, I just, you know, I'd bewary.
I think it's something youcould.
You could, you know, buy intoum and then you could, you could
(06:56):
exit in a shorter period oftime, but it's just, yeah,
fitness, be careful out there.
Speaker 1 (07:02):
Occasionally like an orange theory.
As you've mentioned before clubPilates.
Those are the ones, if we'regoing to look at it, that make
some sense.
But they're gone, right,they're sold out.
And, to be honest with you, ifyou actually were to try and get
an SBA loan on a fitnessfranchise, in most cases you're
probably going to get turneddown because what they show on
(07:24):
their item six and seven maybethey say it's a three to 500K
investment Wrong.
In today's day and age it mightbe a 700K investment.
So I agree with you, catherine.
I think there's much betterways to make money than
investing in a fitness franchise, although I love going to them
all day long.
Speaker 2 (07:38):
Yeah, I think that's the thing to keep in mind, and
we've talked about this before.
But if you love a particularlike, you love Pilates and you
buy a Pilates franchise, you'renot doing Pilates all day.
You're the business owner,you're behind the books, you're
hiring and firing, you're HR,you're doing everything.
So you actually probably haveless time to do Pilates than you
would have had before.
(07:59):
Yeah, something to keep in mindas we look at some of these
that you know it's notnecessarily what you love doing,
it's what makes the most sensefor you.
Speaker 1 (08:10):
Right, agreed, morgan , you're up.
Speaker 5 (08:13):
I agree with Jill.
I love Pilates.
I do, but I'm not going to buyit.
And, like Jack said, I have myeye on a sister company and I
just got their profit and lossstatement.
I'm thinking about acquiringthem.
So I'm one of those franchiseesas well that might be acquiring
more.
But I think my most overhypedcategory would be food.
(08:33):
I think the margins are razorthin, labor is brutal and you're
most likely buying a job, not abusiness.
You most likely are not goingto be a business owner.
You're going to be there day today and doing the ins and outs
and hiring and firing, and itcan be a lot.
So I think you're much betteroff looking at something like
home services and something thatdoesn't have a brick and mortar
location.
Speaker 1 (08:55):
Yeah, and one of the things we're going to get into a
little bit later on in thepodcast is AI's impact on
franchising, and I think it'sgoing to be the first one to get
massively effective.
But we'll talk about that next.
Ryan, what do you got?
Speaker 4 (09:06):
Yeah, I'll add in something different.
I'll go with pet services,especially anything that
services that requires a retaillocation, and I think a lot of
people fall in the trap of thepassion project and Jill just
said it perfectly right it's thesame concept as Pilates that
just because you love dogs, youlove pets.
The reality is you're owning abusiness, and a pretty expensive
(09:28):
business.
So a lot of people do have petstoday.
There is a lot of demand forthese services, but that alone
doesn't make it, you know, agreat business for everyone I
think you're.
Speaker 1 (09:39):
I I agree with you for the most part, brian.
The only thing I would say is,if you have someone that that
say they want a strong realestate play and they want to buy
like a freestanding buildingand they want a franchise that
they could do that with.
Obviously automotive like aMidas would make sense, but I
look at like a Dogtopia and Isay, gosh, that'd be great for
(10:01):
depreciation.
Now back to where your point isabsolutely correct.
Most of our clients don't havea million plus to invest and so
if we're talking about theaverage franchise investor
that's got 100 to 500K, can youget better ROI than you can in
the pet industry?
A hundred percent.
And I agree, don't leave withpassion.
Fulfill your passion outside ofwork.
(10:23):
Go make money with yourfranchise, david what do you got
?
Speaker 3 (10:26):
yeah, it's tough to go last after this group, but
I'm gonna double down on thefitness.
Um, I'm a big fitness guy.
I my whole life I thought Iwanted to own a gym and work out
all day long.
And you know, especially whenit comes to niche, to the niche
type, like you said, the politein this five years, six years,
it changes.
Now there's something anotherfat out and people just want to
(10:47):
jump ship and go somewhere else.
Um, I do like the old schoolbodybuilding type gyms, but
again, I'm not very sure onthose margins.
I don't think they're great.
Speaker 1 (10:57):
Um, but yeah, I'm gonna double down on fitness
can't help but agree, eventhough I may or may not have
just spent what.
What did I spend at equinox insan diego?
Stupid, I mean you don't wantto know.
When we were there like we had,we were in this airbnb.
We had nowhere to go work out,so I went to equinox where I had
a membership way back in theday and they charged me they're
(11:17):
the only ones there, so theywere like right you don't have
to join or you have to pay thisright godly amount of money to
join and eat it.
Okay, so let's go to theopposite side of the spectrum.
What do we believe is the mostunderrated sector in franchising
?
For me, actually, what do youthink?
Speaker 2 (11:39):
Underrated yeah underrated.
Speaker 1 (11:40):
What do you say?
Speaker 2 (11:42):
I mean, I think it's always like a home services or
like a like we used to call themdirty businesses.
You know, they're the ones thatyou, you don't think of.
Those are the ones that do verywell, um, you know, window
washing, like we've never washeda window in our life.
Well, I mean, I guess I have,but not to that extent like
maybe some windex, um, but youknow, it's not something that we
(12:03):
were interested in, but it'ssomething that everyone needs.
And so I think people sort ofoverlook those things because
they're not shiny, they're notfancy, but they're the ones that
will actually, you know, makemoney.
Speaker 1 (12:15):
I'm going to say and I think you're right, obviously,
I mean we invested in that andit was, you know, for us last
year we were the top performingpinks franchise, so we saw it
come to fruition.
I'm going to say b2b is nottalked about enough in
franchising.
But I'm not talking about, youknow, b2b services that like
lower companies costs or thingslike that.
There there are b2b franchisesthat manage things, do things
(12:39):
like facility management, thattheir item 19s are insane.
So again it.
It's like what Jill said theseboring businesses you never
would think about.
And to Morgan's point fromearlier, they are not the shiny
object, the sexy new ice creamshop, but, man, I mean the bang
for your dollar on, say, likeB2B facility solutions is insane
(13:01):
.
David, what do you say?
Speaker 3 (13:04):
I'm going to go with senior care.
It's being talked about a lot.
Baby boomers are the largestgeneration right now and
everyone talks about restaurants, but the real wave right here
is senior care and maybe morespecifically at non-medical.
Families want to pay to keeptheir mom and dads at home.
It's recession-proofreoccurring revenue.
(13:27):
You don't need to store itfront.
So I think senior care rightnow is probably one of the most
underrated and maybe I have tochange that statement because I
think people are catching on andit's out there.
We see a lot of peopleinterested in coming to us
specifically in senior care.
Speaker 1 (13:42):
I mean we all went to a conference where all the
senior care franchises werepresenting and it looked all
their averages are going up andup and up right.
All the average revenue forsenior care franchises are
somewhere between, say, amillion and two and a half
million annually.
I mean that's insane,especially when you consider
that the investment it'sprobably like 150K all in and
(14:03):
when you consider there are somebrands out there like HomeWell
Senior Care where you can startwith five grand, boost Home
Healthcare where you can startwith a thousand, although that's
still, that's not non-medical.
But, david, I think that's agreat call out and probably the
best bang for your dollars insenior care.
Brian, what do you got?
Speaker 4 (14:20):
I'm also going to double down on the senior care
space no-transcript.
(14:51):
I think unique ways likemobility services, concierge
services, some of these moreniche types of businesses that
are just making day-to-day lifeeasier and more comfortable for
that senior population just haveamazing upside.
Speaker 1 (15:06):
You know that's a really good point.
There's another one called, andthis is one that for like,
let's say, you had your milliondollar Dogtopia investor, you
might also.
If it were me, I would showthem a concept called Town
Square.
And what Town Square does isit's a place where you walk in
and it looks like this town fromlike the 60s right, and so, for
(15:27):
someone that has dementia, theygo in.
Speaker 2 (15:29):
Maybe they see like the old car changing as the
population gets older, but itgoes back to where they feel
comfortable.
Speaker 1 (15:37):
You know that era of where they right feel familiar
because we know they're going togo back to their long-term
memory you can spend your wholeday there and um, and it's just
great for for them and it's aplace where they can be safe and
they can be happy.
Um, so that's one where someonewas saying, look, I really want
something where I can own thereal estate, where I can capture
(15:57):
the depreciation, um, alongsidelike a dogtopia or a midas or
something like that, look at atown square.
And the other thing is is thata town square, I think, is
affiliated with senior helpers?
So then there's cross flow ofbusiness.
You know this is I've beentrying to do a lot more
exercises like this, as I'vebeen working on our AI franchise
(16:17):
matchmaker with our developmentteam, and really what we're
trying to do.
I'm trying to make it as much aspossible think like us.
So like as someone answersquestions, not just, you know,
providing these random results,but actually digging deep and
thinking just along these linesof how we're talking.
For those of you listening, wehave an AI franchise matchmaker
(16:37):
where, if you're working withany of our consultants, you can
note which one you're workingwith.
It'll ask you 23 questions andit will show you franchises that
match what you're looking for.
So, with that said, morgan,what about you?
Speaker 5 (16:51):
I agree with the B2B.
I think that that's underratedand it could be anything from
like the images and graphicsigns that are just straight
business to business, or itcould be like consulting and
things that you can do out ofyour home.
So I think those aren't talkedabout enough and I think there's
a lot of them out there thatshould be talked about.
And then also, I think, withthe home services, the AI, I
(17:14):
think just kind of understandingthis difference between the
different home servicefranchises is really important
and those can be underratedbecause some of them are using
drones and they're doing doingbig contracts and they're doing
them faster and better thanother ones.
So, while there's a lot of homeservices out there, for us as
consultants the underrated onesare going to be the ones that
are using technology and usingAI and have massive support for
(17:35):
the franchisees, and I thinkthose need to be talked about a
lot more.
Speaker 1 (17:39):
Totally agreed.
I mean, look at like Cabinet IQ.
I mean those guys are bringinga lot of AI and technology into
what they're doing Cool bigprojects.
Again, it's not going to beyour 150k investment, it's
probably closer to 350,000, butreally really neat business.
Catherine, what do you got?
Speaker 6 (18:06):
for 13 years.
I live and breathe that.
So if anyone wants to talksenior care, please call me,
because I know it in my sleepand agree with what everyone
said here.
But what I'm going to lean intois I'm kind of pumped on this
aircraft detailing with RealClean.
They're the only ones in thebusiness currently doing this
and I think they've gotsomething here.
(18:26):
Definitely something to look at.
Speaker 1 (18:30):
All right, you guys, here's a quick lightning round.
Here we go.
You've got $250,000, jill toinvest.
What franchise are youinvesting in?
What?
Speaker 2 (18:43):
franchise are you investing in?
Why do I always have to gofirst?
I'm turning it back on you.
Speaker 1 (18:47):
I'm going.
Citywide facility solutions.
Their item 19 is insane acrossthe board.
The investment is pretty low.
There's actually some resalesout there that already have a
book of business Me.
Normally I would say likesenior care, citywide facility
solutions for me, Okay, go.
Speaker 2 (19:04):
Okay, Well, I was going to say senior care.
Citywide facility solutions forme Okay, go.
Okay, Well, I was going to saysenior care.
So, even though you saidnormally you say no, but I think
everything that we talked abouttoday and just the background
that we've all had with it, it'sjust especially as we're
getting older, too and we'restarting to actually be the
children that are getting thesenior care for our parents it's
just something that's soimportant and a great investment
and you feel good doing it.
(19:26):
I love that too.
Speaker 1 (19:27):
Well, and the nice thing is is that you only spent
$150,000 of your $250,000 caseand now you've got $100,000.
Speaker 6 (19:36):
We'll talk about it.
Speaker 1 (19:37):
All right, catherine, you're up.
What do you got?
Speaker 6 (19:39):
Real clean aircraft detailing.
Like I said, 250,000 minimuminvestment.
I'd also maybe get a few unitsof puddle pools because I just
love that fish.
I love that fish and it makesme so happy, and so I don't know
, you know me, I'm a puddle pool.
I'm just I'm pumping puddlepools, multiple units, or like
starting with a real, real clean.
Speaker 1 (20:02):
Catherine's going to be out there running her puddle
pools from her phone at hersoccer stars.
Speaker 6 (20:07):
All people you want to pull your phone.
High tech, it's a tech groupthat does full servicing, b2b,
b2c.
Check it out.
It is great Love it.
Speaker 1 (20:18):
Morgan.
Speaker 5 (20:19):
I'm going to go with the home services.
I'm going to go with Vodacleaning and restoration.
I think I like their businessmodel.
Again, excellent marketing.
It's very catchy, just likepinks or puddle pools.
It really catches your eye.
But it's two in one You've gotthe cleaning with the carpets,
but you also got the restorationside.
Speaker 1 (20:41):
No snow fence available and demand never goes
away.
Speaker 4 (20:43):
Love it, brian.
I'm going with Monty's HandymanService.
Yeah, it's nice.
A home service brand.
Very fragmented space, nonational leader and just
untapped demand across thecountry.
But also a great service to bein the house, to be the first
company to build a portfolioaround.
(21:03):
So you want to add any homeservice brand to your portfolio.
You can easily add that off ofyour handyman services.
Speaker 1 (21:12):
That's a new one too, that one literally just dropped
.
All right, david.
Speaker 3 (21:18):
I'm up again.
Hopefully the dogs don't bark.
I think Catherine also took mypick there.
But I'm real clean, I thinkdogs won't bark.
I think Catherine also took mypick there.
But with Real Clean I think thecat's out of the bag.
I'm actually heading toconfirmation day next week
taking a look at Real Clean forSouth Florida Really excited
about it.
I'm also really bullish onPinks.
(21:39):
With $250K you can stack twohome services, not just Pinks,
home services in general.
You could stack two of them ontop of one another and scale
from there.
But home services for sure, andI'm going RealClean as well.
Speaker 6 (21:54):
Glad we live in different states, david, glad
we're on opposite coasts.
Let's go, okay.
Speaker 1 (22:01):
I mean RealClean seems to me like all the markets
where you've got a strongprivate airport, you're going to
see it go pretty quick andagain, it's very different, but
it's very necessary.
And I was watching.
Like I said, I watched theseguys clean a big Delta plane the
other day in like five minutes.
It's insane.
(22:21):
All right, let's switch gears.
Obviously, we're seeing aichange everything.
Um, we've now added a aifranchise consultant to our team
, as I mentioned, and we'retrying to get it more to think
more and more like us.
That's how it's changing.
Franchise insiders is that weeven?
I mean it's to the point nowwhere I actually use it as a, as
(22:43):
a sort of second spot check onfranchise matching for our
clients.
Here's what I'm thinking whatis the AI franchise matchmaker?
And so, when we work with youguys, you're going to get really
two angles there.
But as far as how I see AIimpacting franchising man, as I
look, I don't know if you guyshave seen this, but like
Chipotleotle, kava, both of themhave deals in place to have
(23:07):
robot workers, essentially theassembly line of you know your
burrito bowl, or what do we callthat?
What even is that your pitabowl?
a grain and so, essentially the,they're going to have ai robots
now making your Chipotle andyour Cava and that to me, I
think, is going to make foodvery appealing to owners again.
(23:29):
Because I'll bet you'll seeright now where those margins
are very slim and I think,morgan, you mentioned that
earlier.
Once you have this sort of AIassembly line, I think you're
going to see those margins afteryou've ported the robots and
I'm sure it's like anything.
I'm sure there are Section 179.
I'm sure you can finance them,but you're going to see margins
really go up.
(23:50):
On food franchising, but ofcourse it's going to go through
its teething period.
But yeah, david, what are youseeing in terms of AI and
franchising?
Speaker 3 (23:59):
Look, I'll be the first one to admit that I'm
obsessed.
I use it every day.
Now we leverage AI.
We still got to verify what AIis spitting out is accurate, so
I'm pretty optimistic on AI.
Speaker 4 (24:17):
Yeah, brian, what do you say is a lot of these
companies.
They have the resources and themoney to actually invest in AI
across a big system.
So when you think about dialingin marketing, finding your
target customer, you'll do thatmuch cheaper than you have in
the past.
And I think what you're goingto do especially home services,
some of these areas where themarketing expense is one of the
(24:39):
biggest expenses you're going tosee a huge separation between
franchise systems doing thisreally well and mom and pop
operators, and I think that'sgoing to be as we continue to go
down this road is really goingto create a competitive
advantage for a lot of franchisesystems that are able to get on
board and utilize AI veryeffectively.
Speaker 1 (25:01):
I think, as the CEO of NVIDvidia said, uh, ai will
create more millionaires overthe next five years than the
internet did in the first 20,and I personally, I think that's
100.
True, and and for those of usthat can learn to really utilize
it and master it, um, you know,you can't just go and type in.
You know, find franchises formy clients, I mean you.
(25:22):
You have to essentially get aito understand you and you need
to understand it, and it's likeworking with, with co-worker.
It's, it's managing it, it'sworking with it.
As david said, it's going tomake some mistakes, so you've
got to double check it.
Um, but to your point, brian,it does make us all so much more
efficient, um, so much more umsort of it.
(25:43):
Just the information flow, theway we now search on the
internet.
It's so much moreconversational and for all of
you out there, for those of youembracing it, I truly believe
that if you use AI andfranchising, it's going to help
you grow faster than than youever would have imagined a few
years ago.
Morgan, what do you got?
Speaker 5 (26:00):
Yeah, I think.
I think the goal as a franchiseowner is always to work smarter
and not harder.
So if you're not utilizingthose, you're working too hard
and burnout is real.
I mean, we're all clearly hardworkers type A, resilient, and
that's all great, but you canget burnt out in any business.
So use what you can and usethose tools and I'm even using a
virtual assistant, you know,and I would like to expand to
(26:22):
two of them and I think the callcenters are getting better than
ever for the support forfranchisees because of all this
technology.
So use it and understand it,but don't forget that it's there
and it's there to help you worksmarter and scale faster.
And I think that you're goingto see a lot more people leaving
their corporate jobs, cominginto franchise ownership,
business ownership becauseeither their job's getting
(26:43):
replaced or they're seeing howmuch smarter you could be
working and you could be scalinga lot faster and making more
money than they are in theircurrent jobs.
Speaker 1 (26:51):
Well said, catherine.
Speaker 6 (26:54):
Yeah.
So it is such an exciting timeto be a franchise owner with AI.
Oh, my God.
I will say this.
I was reflecting on this lastnight in preparation for this
exciting podcast this morning.
So, harnessing AI forefficiency absolutely, Multiple
(27:15):
of you touched on that, but Iwas thinking about it and I'm
doing outreach to preschoolsright now and with ChatGBT5,
that was recently launched,versus ChatGBT4.
Oh, my goodness.
So ChatGBT4, for example, youwould put in the inputs, like
you need to understand it, youneed to get it.
Like you said, Jack, tounderstand you right, You're the
(27:36):
creative director.
So I love that.
For me, I would consider myselfa writer, but writing took me so
long.
It took me so long andrewriting and organizing my
thoughts.
So with AI, it's just sped upthat process tremendously.
And then you know, withChatGPT4, putting in the input,
(27:58):
it would put it out.
Now, with ChatGPT5, it alreadyknows.
It's like I'm putting in what Iwant and it's like do you want
this to be a scroll stoppingpost?
Do you know?
It already knows the prompts,so it's just even from.
So I go back to my story ofpreschool outreach, which I've
been trying to get to since Iopened two years ago and just in
(28:18):
the last, you know, working onit yesterday, I'm like, oh my
gosh, I can get to this so muchmore quickly with these tools.
With the way what AI hasdeveloped in the last six months
, it's going to continue to leapevery six months.
So you know, it's understandingAI, it's knowing how to use it.
So it's going to help franchiseowners scale faster than ever
(28:40):
before at a fraction of the cost.
Right Like it.
Just that's the beauty is thecost that it takes to operate a
business in general franchise.
With AI, you can just scale somuch quicker, keep more money in
your pocket.
Yeah, so, anyways, that's wherethat's where I'm at, Very
(29:02):
excited.
Speaker 1 (29:03):
I think that's right.
I think you can see now, a highschool dropout armed with AI,
who knows how to use it, can bemaking a ton of money in a very
short period of time, can becommunicating so much more
effectively and professionallythan ever before since it's out
there.
Hey guys, I have a question.
So what trends do you guys seein 2025 that franchisees need to
(29:27):
really be aware of?
And I'll kick us off.
This is something Jill and Italked about before getting on
here.
I think it's that the buyersfor your franchise are changing.
Private equity is in thefranchise world in a big way.
Equity is in the franchiseworld in a big way, and there
are things that private equitylooks for in terms of buying
franchisees.
(29:47):
But yes, for those of youlistening, private equity
absolutely.
If you are a great operator andyou have a certain EBITDA that
you have hit, private equitywould love.
Private equity would love torecapitalize you and arm you
with more money to go grow amuch bigger franchise, and it's
a benefit to you, the franchiseowner, and it's a benefit to the
(30:08):
franchisor, because if you're astrong owner, like everyone on
this call, well now you imagineif you guys now had 20 million
bucks to go up in 20 units withwhat you know, I mean, how
effective could you be?
I mean, so that's the thing Nota lot of people, when they go
into franchising, are theythinking about.
Well, private equity isn't justcoming in from the top, they're
(30:28):
coming in from the bottom withfranchisees and rolling up
multiple units.
So my point to all of youlistening out there is that you
now have so much potential and Idon't know how long this will
last, but certainly the nextfive years it should be a strong
continue to be very strong exitopportunity or recapitalization
opportunity For those of youthinking about franchising.
(30:48):
Even if you're just startingwith one unit, get good at it,
be really good at it and grow.
As you start to grow and makemoney, then you can start to
acquire more units.
But start to think about this,and so you know the team.
We all talked about it.
We actually created another appfor you guys called the
Franchise Exit Calculator, andwhat you can do is essentially
(31:11):
take what industry you'relooking at, take how much you
can invest and then have anaiming point.
I want to, you know, get abusiness to a million dollars
EBITDA and it will tell you howmany units you should have to do
that.
So, for any of you again whowant to get access to these
tools, text us at 305-710-0050and make sure you mention which
of us consultants you're alreadyworking with.
(31:31):
If you don't already have aconsultant on our team that
you're working with, don't worry, we'll get you assigned.
But that's my thing I thinkpeople need to be aware of as
franchisees is that there aremuch bigger exits out there if
you just grow a great business.
So, with that said, catherine,what do you think franchisees
need to be aware of in 2025?
Speaker 6 (31:52):
I think that a lot of these businesses and franchises
are leaning in just the onesthat are embracing technology,
the ones you know hearing aboutrolling suds with the drones and
cleaning the five stories plus.
That was really cool, and soyou want to when you're vetting
(32:16):
these different franchiseopportunities.
If it were me, I would belooking for a partner who's
really innovating and embracingtechnology and what that looks
like and what that roadmap isfor them, because again and I
know we keep talking about itit's not just AI AI technology,
robotics, drones those that areleaning into those things have a
(32:40):
team focused on that right atthe top and innovation.
I think that's important andjust something that you should
be thinking about in yourconversations when you're doing
your calls with franchisees,when you're on your calls with
the franchisor.
Those are just things you wantto understand and think about,
(33:03):
and I think that's what I wouldlook.
Speaker 1 (33:09):
Yeah, I think that's really well said and I think in
this series and we're going tobe bringing you this new format
where all of us are sort ofdoing this roundtable at least
once a month AI is going to be ahuge part of this moving
forward, because it just isright, like you said before,
catherine, there's a massivedifference between chat GPT-5
and 4.
(33:29):
Claude is getting better by theday.
What about x's ai?
What about all the different,the other ones that we have?
Speaker 2 (33:36):
I'm trying like gemini does he actually.
Speaker 1 (33:40):
Yeah, he doesn't like gemini's trash um let's see
what trey says.
So if trey says trash, I'm not,I'm not going there you know,
what the most fun is actually,um is to have them work,
actually use them.
Yeah, so, like, as I'm usingone, I'll say to claude hey,
chat gpt said this what do youthink?
(34:00):
And it's kind of fun to havethem battle it out a little bit.
So, you know, make sure you'reusing not just one and getting
the different personalities thatare out there.
Morgan, what are your thoughts?
Speaker 5 (34:11):
I think a big trend, uh, for 2025 that we haven't
talked about, but is kind ofwhat we're talking about, is
labor.
I think that if you don't havea good labor strategy, you don't
have a good business strategy.
So, when talking to thesefranchisors and learning more
about the businesses, I thinkall of us on this call have been
asking how are you supportingyour franchisees, finding people
(34:32):
to work for you, what kind ofsupport do you have with your
call center?
Are you using virtualassistants?
Are you using AI?
All revolves around labor.
So I think that labor is a bigtopic that isn't really
necessarily a priority on thecalls, but it really should be,
because that's how your businessmodel and strategy is going to
succeed.
So, yeah, using all those toolsto make sure that you're hiring
(34:54):
properly and keeping youremployees happy will allow you
to scale.
So I think people are talkingmore about that on the calls
than ever before is how are yousupporting the franchisees and
how are they finding employees?
How are they keeping theiremployees?
Yeah, so I think that's a bigtopic.
Speaker 1 (35:11):
Do you like your assistant, Morgan?
Yeah, so I think that's a bigtopic.
Speaker 5 (35:14):
Do you like your assistant Morgan?
I love her.
She's a hard worker, she asksall the right questions and, not
unlike AI, she started to learnmy personality.
So she's already jumping aheadand being like hey, last month
you were asking me to do thesethings, are you ready to do them
again this month?
And that's so helpful becauseI'm moving 100 miles an hour, we
have two kids, we have multiplejobs, multiple streams of
(35:36):
revenue.
So to have somebody kind ofbacking me up and saying I know
your personality, I know yourworkflow, let me help you out.
Or I ghost her for a while, I'mtoo busy to answer.
She'll say I know how busy youare, can you answer these
questions so we can get this offyour plate.
And I love that.
Speaker 1 (35:53):
That's awesome.
Speaker 4 (35:55):
Ryan, what do you got ?
One of the things I'm seeing alot of is people looking to buy
an existing business, and I workreally with two big groups of
people.
One is I work with a lot offranchise resales, so I do try
to help people find existingbusinesses.
I also work with peopletransitioning from corporate to
business ownership, and I thinka big thing I see that's always
(36:18):
a red flag is trying to look atitem 19.
We're trying to look at what SDEis and thinking of it as a
paycheck.
You are no longer an employee,you're not working at a company,
and earnings and a paycheck aretwo totally different things,
right?
And so I think one of thethings that really just try to
get people to take a step backand think about is you're not
(36:38):
skipping the startup phase bybuying an existing business.
You're going to pay a multipleor you're buying someone else's
headache because it's notworking out.
So it's not a free lunch, andone of the things I would just
do is take a step back and lookfor a business you actually want
to own three, five years downthe road.
It actually fits for you andyour lifestyle, versus something
(36:58):
that's just cash flowing or hasan SDE on it right now.
Speaker 1 (37:04):
Great point, yeah, absolutely Fabulous point, david
.
What do you got?
Speaker 3 (37:08):
I'm seeing a lot of clients come to us and they I
know everybody on this call hashad this already where they want
this business in a box, whereit's on autopilot, like, yes,
you're buying a franchise, yes,you have SOPs and you have one
leg up on startup, but it's notautopilot, it's still a business
.
It doesn't just show up and runitself up and run itself.
(37:34):
I've been very blessed to havea general manager from almost
the very beginning of my pinks,but he just took a week off
vacation, which he well deservesfrom what he's built for my
pinks.
And I am going crazy right nowdriving to and from from Orlando
to Port St Lucie and realizingthat myself I made a mistake and
I put too much on one personand where I wasn't learning the
(37:55):
business ins and outs, and nowthis week has just been like
breathing out a fire hose.
But I'm going to tell the storyto all my clients because I
don't want them to think thatthey're just going to buy a
pretty shiny object and hit theground day one and somebody else
is going to run their businessand they're just going to
collect the check.
Just not reasonable.
I think that's a great pointand straight segue into our next
topic, which is and they'rejust going to collect the check.
Speaker 1 (38:13):
Just not reasonable.
Yeah, I think that's a greatpoint and straight segue into
our next topic, which is thebiggest misconception we see
potential franchise investorshave.
We were talking about thisearlier and to us it's always
people not understanding whatthe real financial runway of a
franchise is right.
(38:33):
So it's like you'll talk to um,a uh home services franchise
and it says you know all ininvestment 150k and someone says
, great, I've got that or I canget that with financing.
But in so many cases you aregoing to likely leave your job
to go start this business.
It's really hard to keep yourjob and run a franchise.
And if you think hiring a gmfor 80 000 a year really hard to
(38:54):
keep your job and run afranchise, and if you think
hiring a GM for $80,000 a yearis going to grow your million
dollar business, you'reabsolutely incorrect.
In some cases you can add agreat GM from day one, like
David has done, but more oftenthan not I mean, think about
this If you're sitting there incorporate America making 80
grand a year, are you the typeof person that can grow a
(39:14):
multimillion dollar business?
I don't know the exact answerto that, but I've got a good
idea.
So I think, being financiallyprepared.
So if the franchiseinvestment's 150K and it takes
anywhere from, say, six to 18months for you to start drawing
a salary and replacing yoursalary, what kind of cash runway
do you have to start drawing asalary and replacing your salary
?
What kind of cash runway do youhave to take care of yourself
(39:36):
and your family as you grow thatbusiness?
Because if you go in short,then you're just going to wreck
the business.
You're not going to have enoughfinancial runway.
You have to be, you have togive the business time.
And so sometimes people willsay well, you know, I'm, I'm.
Why should I do that?
Why should I go through thathard period when I can just stay
in my job and make my, mycompany salary?
Well, you can't sell your, yourjob for five times EBITDA in
(40:00):
seven years.
Um, but you can.
Probably you can do it with agood franchise.
So it's worth it to put thattime in.
But you want to make sure thatyou are capitalized, not only to
grow the business, but thatyou're capitalized to live your
life.
And it doesn't mean, like I seesomeone yesterday, someone on
LinkedIn, saying you shouldn'tbe buying fancy things and you
shouldn't buy cars and youshouldn't do this, and that I
(40:21):
don't think any of us have theright to tell someone how they
should live their life and whatthey should and shouldn't buy.
I mean, that's your choice.
I've always felt like youshould be able to do the things
that you like.
You like going out to dinner doit.
You want to drive a nice car?
Do it, but don't wreck yourlife.
So make sure you have enoughmoney both to fund the business
and to still live your life asyou're growing, because you're
(40:41):
going to have a lot of fun butyou're going to have some hard
moments, so you want to still beable to do the things that make
you happy.
David, what do you say?
Speaker 3 (40:54):
I, I mean, you nailed it.
I was going to talk aboutworking capital and
misconception, that justlistening to the franchise or
when they tell you you know thisis the number on the item 19.
You know, you need to think,worst case scenario.
I just have my partner on thedeal that we're working say that
the item 19 says we only need Xamount of money and I'm like,
well, add about 30, $40,000 tothat, just in that, just in case
(41:16):
.
I'd rather be overcapitalizedand I learned that the hard way.
Also with Pinks I took a gambleand it's worked out well for me
.
But I don't want to go to thedistrust again and now I'm in a
good place and I just want tomake sure the next business I
start I'm overcapitalized.
So misconception, justbelieving everything that R19
says taking a step further.
Speaker 1 (41:40):
Yeah, and that's.
I think that's where it'simportant to make sure you're
doing proper validation and talkto five to seven franchisees.
Talk to someone that's been inthe business at least three
years.
Talk to someone that left thesystem.
Really hear it from thefranchisees.
For all of you guys out there,all of us on this call, do
franchisee validation.
I don't know of one franchiseethat's out there trying to sell
franchises.
When we talk to franchiseowners, we're giving them as
(42:03):
much helpful information aspossible, because we know, once
you join us on that side, wewant you to be aware of what the
realities are, so you don'tcome in thinking it's easy.
Brian, what do you think?
Speaker 4 (42:11):
You literally just took everything I was going to
say.
But it's back to validation,and that's an advantage of
franchising versus evenindependent business.
You have owners who have walkedthe walk of what you've done
and they know the reality.
And it's just, I also say, notjust validating proper
validation, asking the rightquestions, and it's not are you
(42:35):
making money?
Do you enjoy it?
Right?
It's getting a real sense ofwhat does your one look like,
what were the unexpectedchallenges, how did you scale
and how did you finance thatscale Right?
So, going into these businessesand not just being excited
about the brand or excited aboutthe space, but really
understanding what you need tosucceed and what it looks like
(42:55):
to actually run that business ona day-to-day basis.
Speaker 1 (43:00):
Love it.
Love it, Morgan.
What do you say?
Speaker 5 (43:04):
Yeah, I agree with everything.
I loved the validation callsand I still love them.
I like talking to futurefranchisees about my own
business and being real andhonest, but just making sure
you're talking to a topperformer absolutely, but also
talk to someone that maybe isn'ta top performer.
I started it thinking this wasgoing to be part-time like
anybody else and maybe a littlebit semi-passive.
And now it's my full-time andI'm very passionate about it and
(43:26):
it's my day-to-day and I loveit.
But certainly didn't start thatway.
So, yeah, talk to as manypeople as you can and validate
those franchisors and make surethat you have the right support
going into it.
Speaker 1 (43:39):
Perfect Catherine.
Speaker 6 (43:42):
Yeah, so, as I do, the validation calls too for
soccer stars, and I think thatit's just really understanding
the work that needs to go intobuilding and starting a business
.
And you know a lot of peoplecome to me.
Oh, we hear you're the MVP,you're the top performer.
I'm like yes yes, but I might'vebeen the MVP in that first year
(44:03):
, but guess what?
I was working 80 hour weeks.
I was working on the businessseven days a week, every minute
I could that I wasn't with mykids, you know.
I was coaching 13 classes.
I was doing everything.
So it took a lot of hard workto get there.
But guess what?
Now I'm stepping back.
I have a manager.
And back to what David issaying about his manager.
(44:25):
My whole thing was if I'm goingto own a business, I need to
understand the ins and outs ofthe business.
I need to be up.
That's why I was coaching 13hours a week for six months,
because I needed to.
How was I going to hire, retain, train, hold accountable
coaches if I didn't fullyunderstand what I was out, what
our product was, the classesright.
(44:45):
And then how am I going to sellthis to preschools and to
schools if I don't fullyunderstand what it is that I'm
selling?
So I think it's reallyimportant to fully understand
your business.
You don't need to be out youknow analogy about their
coaching for six months but youneed to understand.
You know the ins and outs,because you can't manage someone
if you don't understand thatyou can't manage them.
(45:05):
Well, I don't believe.
And now I have a manager who'smy right hand, who is incredible
, and so now I am in a place andlike, quickly with the business
.
Right, you want to be workingon the business, not in the
business.
So I was in the businessbusiness owner model for, call
it, those first six months andthen now, with the manager, it's
more of that executive ownermodel where I can step back and
(45:26):
I can manage the manager, butI'm still in the business all
the time because I have loftygoals, I'm buying a second
territory, I'm expanding, andthat's what that is and that's
what I want and that makes mevery happy.
But it's just the level of work.
And I hear some people oh well,you know, I can't do weekends
on these validation calls, I'mjust going to be able to work,
(45:48):
you know, these few hours andit's like, okay, but you're not
going to be generating therevenue that you want to
generate.
That's just the reality.
So if you're okay with bringingin a lot less, then that's okay
.
But just being honest with that, right, what you're putting in
is what you get out.
And I think that's wherecorporate America and where I
(46:10):
got a little frustrated.
I felt like I put in a lot.
And you know, then, at the endof the year, I'm told, oh well,
you're only going to get 50% ofyour bonus because the company
didn't hit the financial goals.
Well, what about me?
What about my effort?
What about me working 12 hours,you know?
I mean I, you know.
And so this with a business anda franchise, it's like yeah,
(46:31):
I'm working a lot, but like Isee that return and it's awesome
and that makes me happy.
So I'm done, drop my that's sowell said.
Speaker 1 (46:43):
And you know what, catherine?
That's part of what drove Jilland I into into business
ownership too is that same exactthing.
Here's your goal for the yearUm, um, and your compensation
doesn't change, but you betterhit your goal.
Yeah, um, and I'll never forgethaving that meeting and saying,
nah, that doesn't work for me.
Yeah, if you want me to hit agoal, then if I hit that goal,
(47:03):
then it should come with areward.
And you're exactly right withthe business that you own, you
get to set that goal, um, and Ithink that's just part of what
makes it so rewarding.
For winding down this, I have aquestion for you guys,
two-pronged One, and this goesto you first what was the first
business that you owned?
And two, is there a podcast orbook that you would recommend it
(47:28):
doesn't have to be aboutbusiness ownership, but, for
people who are building abusiness, a podcast or book that
you think they good?
Besides this, one.
Speaker 2 (47:36):
I mean, I personally like anything Cody Sanchez out
there.
I think she has really goodinformation.
I don't 100% agree witheverything she talks about, but
I do think there's a lot ofreally good snippets out there.
Whether it's in her socialmedia or any podcast that she
does, I think that she does givevery good advice to new
business owners.
So, um, that's who I am.
Speaker 1 (47:59):
And what about your first business?
Speaker 2 (48:01):
I mean we've had many businesses.
Speaker 1 (48:02):
That first one.
Speaker 2 (48:04):
T-shirts oh yeah, T-shirts.
Yeah.
The first business that I ownedwas a t-shirt company and made
hashtag t-shirts and sold themon social media and on Etsy.
Speaker 1 (48:18):
She had like a whole following.
Literally like at night, she'dput trade asleep and she'd be
cranking out these t-shirts withlike hashtags, like this is
actually pretty neat littlebusiness.
Speaker 2 (48:28):
It was a good business.
I took it in the wrongdirection at first.
It was a super simple businessmodel because I could knock out
25 hashtags on one piece of heattransfer vinyl, so the cost was
like zero to make anything.
So the markup was insane.
Then I started doing customorders and it kind of got out of
(48:48):
hand.
And then Jay got older and Ihad to actually do some real mom
stuff.
But it was fun at the time.
It was a good creative outlet,happy I did it.
Speaker 1 (48:57):
We learned a lot yeah , I mean, and then I tried to
copy jill.
I started an online uh, surfshop t-shirt business, which
nobody cared about.
But do you know, what was greatabout it is that I learned
google ads.
Um, I learned building awebsite, and so when Jill and I
went to start Franchise Insiders, we actually used a lot of the
(49:22):
lessons from both Hashis andCertificative to create a real
business, and I still maket-shirts.
And Jill still loves to maket-shirts.
So, even though they were smallbusinesses, they were awesome
learning points for us.
Catherine, what about you?
Speaker 6 (49:34):
Well, South Ccer Stars would be the first
business I've owned and I Wait asecond, what you and Morgan had
a business.
Speaker 1 (49:42):
Oh, how could I?
Speaker 5 (49:43):
forget, don't forget.
We were business owners when wewere little kids.
We started our own business 32.
Speaker 6 (49:50):
A couple of them.
Speaker 5 (49:50):
We found out there's two of them, two we started we
thought there was one.
Speaker 6 (49:53):
Right, so the scrunchie business that we had.
How old did we think we were 10?
We were like 9 or 10.
Speaker 5 (50:01):
9 or 10.
Speaker 6 (50:02):
And then, prior to that, it was selling holly
around the holidays Holly.
Speaker 5 (50:09):
Around the holidays we would sell a little holly
with little bows and sell itthrough the door.
Yeah.
Speaker 6 (50:13):
Door to door sale.
Speaker 5 (50:16):
We had to knock on every door hey didn't you two
launch a new podcast too?
We did, yes, we did.
Speaker 1 (50:25):
Where can people find that?
What is it?
Speaker 6 (50:27):
It's called best friends in franchising BFFs with
Morgan Nolan, catherine Allen,and you can find it on uh Apple.
Yeah.
Speaker 5 (50:38):
Yeah.
Speaker 1 (50:38):
Yeah.
Speaker 5 (50:40):
It's out there, it's live.
We have one episode.
The next two are coming shortly.
Yes, um, and it's just ustalking about kind of what we
talked about here, but more inthe daily lives of two moms that
are franchise owners and bestfriends since childhood.
Speaker 6 (50:53):
Yeah, and in the daily lives of two moms that are
franchise owners and bestfriends since childhood.
Yeah, and just the podcastpiece, jack.
So I'm going to do a major plugfor Growth Day, the Growth Day
app Brendan Burchard, ed Miletzon their lot.
It's amazing.
It has been transformative forme.
I don't have a therapist.
I don't have a business coach.
(51:14):
I have Brendan Brouchard in theGrowth Day app.
I use it daily.
He does a daily fire.
It's all about mindset.
There's so many resources onthere with the top mindset
coaches in the world.
If you're going to own your ownbusiness, you're the CEO of
your household, right?
Your business.
It has been transformative forme and it has made me such a
(51:37):
better leader I I can't sayenough.
So growth day app.
Speaker 1 (51:41):
Brendan, you know I totally forgot to add my podcast
, Uh, I would say Peter Atiyah'spodcast for those of you
interested in health andlongevity, because as we're
building these businesses, wewant to stay mindful of our
health.
And then I have a book for allof you listening and all of you
on the podcast.
It's a short, fast book.
It's called the Richest man inBabylon and it's a killer book
(52:02):
about managing and buildingwealth.
It's a I don't know, it'sprobably a thousand years old,
but it has great lessons in it.
All right, Morgan, didn't meanto steal your thunder.
What's your podcastrecommendation?
Speaker 5 (52:14):
Recently in it.
All right, morgan, didn't meanto steal your thunder.
What's your podcastrecommendation?
Recently I've been just kind ofin and out of Kim Daly really
fast, just kind of getting somesome hype for me for the day.
But I am currently listening tothe audio book for Kim Perel.
She came out with a book calledmistakes that made me a
millionaire.
She's been on book tour and soI'm currently listening to that
right now.
And then, outside of our littlescrunchie and holly business,
(52:40):
that was my first business, butthen I've always kind of worked
for myself.
I tried not to and it didn'tfit my personality very well.
I hated the hours.
So I was.
I own my own interior designbusiness and I still do interior
design sometimes.
And then the corporate eventswas all me too, and the knot
gave me an award for that.
So I still do event planning,but very little.
I do one event a year for myschool district.
(53:00):
But yeah, being my being my ownbusiness owner has been part of
my life for a long time, itturns out.
Speaker 1 (53:06):
Wow, that's super.
I didn't know that with them.
Did you know that that's socool?
Speaker 6 (53:11):
That's something new every day, jack, every day.
Speaker 1 (53:16):
Look at that, Brian.
What do you say?
Speaker 4 (53:23):
I started junior high , junior high, through high
school, I had a lawn carebusiness in my hometown, so I
cut a lot of grass and as anadult, I will only hire now
franchises to come and do anyoutdoor maintenance works.
I never want to mow grass againin my life, but it was a great
first business and then I'll gowith a book rather than a
(53:43):
podcast.
So one that I really like andrecommend for anyone looking at
this transition is Atomic Habits, and I bring that up because
this can be an overwhelmingprocess.
If you start thinking abouttrying to do everything at once,
if you dial it back to justgetting 1% better a day,
learning 1% more, this processbecomes much more digestible,
(54:05):
whether it's finding a businessor getting in and actually
scaling Awesome.
Speaker 1 (54:11):
Very cool, david.
Last but not least, Awesome,very cool.
Speaker 3 (54:28):
David, last but not least, bought a business was
because of cody sanchez, andhere's one of her books, and I
think pretty much named everybook that I had in front of me
and that's, that's the path Iwent down and I just like I went
from reading zero books for 20something years to reading 20 in
the past six months.
Uh, I've become obsessed witheverything in the wealthy
(54:48):
franchise, uh, franchisee and Imean brian just nailed it,
atomic habits Got them all righthere.
Uh, just became a book, warmand and full disclaimer.
I love listening to the audio,I follow along, but my reading
comprehension is terrible, so Igo full audio book.
Um, and podcast.
You know, like I said, codySanchez is the reason that I'm
(55:10):
here today and I, cody Sanchezis the reason that I'm here
today and I I listened tocontrarian thinking and also the
diary of a CEO with a StevenBartlett.
Uh, probably two of my favoritepodcasts on YouTube right now.
Speaker 1 (55:21):
Awesome, Very cool.
Well, thank you guys.
This has been a lot of fun.
Um, for those of you listening,um, we're going to have next
week a franchise owner fromSharky's Cuts for Kids.
I don't think any of us talkedabout that.
We didn't Haircutting We'llhave to talk about that next
time but that's a franchise thatwe have been working with since
2017.
It's not the most flashy, butyou're going to get a sense of
(55:42):
why this multi-unit owner hasbeen so happy with her
investment.
We're going to have thatconversation with her next week
and thank you to all of you guys, the team, for being on the
podcast today.
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