May 2, 2025 • 15 mins
Ever dreamed of running a thriving business from a Hawaiian beach? When our flight home was cancelled, we discovered firsthand the true freedom franchise ownership can bring. Instead of calling a boss to beg for more time off, we simply shifted into remote management mode, working with our capable teams from poolside. Our general manager's response? "No worries, I've got this."
This seamless work-life integration represents what's possible when you own the right franchise with proper systems and leadership. We're expanding this vision through our growing Franchise Insiders consulting team, welcoming two new franchise owner consultants who bring valuable firsthand experience to help others find the right franchise.
Financial awareness remains crucial for franchise success. We dive in on where you need to keep labor costs (as a percentage of revenue) and checking your P&L weekly. It's fascinating to see smaller market franchises sometimes outperforming larger territories—proof that the franchise owner makes more difference than location. Business ownership certainly brings challenges, especially in the first 12-18 months, but the rewards far outweigh the difficulties when you're building something that provides both financial success and lifestyle freedom.
For those considering franchise ownership, particularly in home services, prepare financially with approximately $50-60K for franchise fees plus $100K in working capital. Don't worry if that seems daunting—creative funding options exist, including 401K strategies without penalties.
Ready to explore how franchise ownership could transform your work-life equation? Text us at 305-710-0050 to learn more about finding your perfect franchise or join us for upcoming podcast episodes featuring our new consultants and financial experts who can help you keep more of your hard-earned money.
Visit www.weboughtafranchise.com to subscribe.
Send us your questions for an upcoming episode at 305-710-0050.
From your pals in franchise ownership, Jack and Jill Johnson.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 2 (00:01):
Hi everyone, welcome back to the we.
Speaker 1 (00:02):
Bought a Franchise podcast.
Speaker 2 (00:04):
I'm.
Speaker 1 (00:04):
Jack, I'm Jill and we are back with you guys after
lots of spring break travel andAn extended spring break.
Yeah, yeah.
We get stuck in Hawaii Sad.
Speaker 2 (00:15):
Sucks.
It was unfortunate.
Speaker 1 (00:17):
Yeah, but the good news is is that we were still
able to manage our business isfrom the road, which is
something a lot of you ask about, like what?
Happens to work-life balancewhen you become a franchise
owner.
How's your work-life balancegoing?
Speaker 2 (00:34):
I mean it's good, I think it was really cool.
So when we unfortunately missedour flight in Hawaii, very sad
day.
Speaker 1 (00:41):
Just imagine that whole airport scene.
We're running for the gate,suitcases in hand something like
that.
Speaker 2 (00:47):
Anyway, as we were talking about what it would look
like if we were stuck and wecouldn't get a flight home for a
few days, later what would thatlook like for work and for
school for our son?
And, honestly, work didn'tmatter for us.
It was more of what would we doabout the school situation?
Work for us was so easy to beable to manage.
We could still talk to the teamat Pink's.
(01:10):
We can still run FranchiseInsiders from there.
Obviously, the time makes adifference, but it's a couple.
Speaker 1 (01:20):
You know mornings, it's a couple six hours here and
we weren't actually runninglike math.
At the gate we pulled adisclosure.
We pull disclosure for you tovisualize that we were sitting
by the pool drinking my ties,but listen, that's the fun of
this issue, guys is that whenyou own the business, you don't
have to call and ask some badboss for more time off.
Speaker 2 (01:36):
Now you still have to be a grownup.
Speaker 1 (01:38):
You still have to work with your team, and so when
I called our GM on Monday,morning and he said welcome home
and.
I said no, not quite.
Yet he was like no worries,I've got this, and the team did
a great job doing all the jobsand getting everything done, so
we're grateful for them.
And it's again with.
Speaker 2 (01:56):
Franchise Insiders with helping our franchise
consulting clients.
Speaker 1 (01:59):
that's a business, and I'm excited to tell you guys
we actually have a growing team.
We have two new members of ourfranchise consulting team that
joined us yesterday.
So there's going to be a lotmore insiders coming at you and
we're going to be introducingall of them to you over the next
couple of weeks.
Speaker 2 (02:19):
Every new franchise insider consultant is going to
get their own podcast episodewhere they're going to share
their journey as franchiseowners, because to be a
franchise insider, you have tobe a franchise owner or a former
franchise owner with asuccessful exit.
Speaker 1 (02:29):
So our team is going to be so freaking strong and we
are just going to continue ourmission of franchise owners,
helping people become franchiseowners.
Speaker 2 (02:36):
So with that, there's a couple of things that.
Speaker 1 (02:38):
Jill and I have been kind of talking about in terms
of for you guys and we do theseepisodes like today, where it
it's just us what can we sharethat's going to help you guys in
your sort of franchise?
Speaker 2 (02:48):
search, or maybe you're currently franchise
owners.
Speaker 1 (02:50):
One of the things that I think is most important
for new franchise owners, forexisting franchise owners know
your numbers and there's anumber that I think doesn't get
talked about enough, which ishow much should labor account
for?
you know how much.
How much should you beallocating to labor for a
well-performing business?
And after looking at PNLs fordifferent franchise categories,
(03:13):
different franchise owners overthe years, I really think you
need to set your labor target.
So not like including your GMor executive staff about 25% of
gross.
If you can do that, if you canachieve 25% um paying your labor
25%, you are doing a great joband you are going to see your P
and L look better than it everhas before.
Speaker 2 (03:33):
And with that in mind , that's another thing too, as
on our franchise consultingbusiness.
Speaker 1 (03:38):
We do work with existing franchise owners who
want to sell their business.
Happens all the time, but somany of them Jill they don't
know.
I'll say do you have a P and L?
Speaker 2 (03:48):
And they'll be like.
Well, no, my accountant, does Imean to be honest?
I probably would be like, butyes, I think if I didn't have
you, I would focus more on it,but it is really important to
know.
Speaker 1 (03:56):
Yeah, I mean it's, it's.
It's like knowing your bloodpressure, it's like knowing your
cholesterol.
I mean you should, I think atleast once a week, have a peek
at your P&L At least once a week.
At least once a week.
For those of you a lot of youwho are franchise owners may
have an accountant running yourpayroll for you.
That's totally fine.
You should be, especially ifyou have an accountant.
That means that P&L is probablydialed in on a weekly basis.
(04:17):
Good for you, just to know yournumbers.
Quick health check just to seewhere you are.
And you never know when someonemay come along and offer you
want to buy your business andthe last thing you want to be
able to say is well, when theyask you questions, well, I don't
know the answer to that.
I need to check.
You want to have that P&Ldialed and ready to share with
(04:37):
someone that may want to buyyour business.
So those are just some quickthings I've been thinking about,
as I've been thinking abouttips for you guys who are out
there, a lot of you who join ourpodcast.
You're obviously veryinterested in Pinks and we get
it and by the way I was on the.
Speaker 2 (04:48):
Pinks sales call today Holy smokes like new
locations.
Speaker 1 (04:54):
It's seen there's so many locations now that are like
doing as well or better than us.
It's like I don't know whatthey're doing over there, but
they're like they've gottenbetter and better and better at
training new franchisees.
Speaker 2 (05:05):
Because there's more people, more people, more
experience.
Yeah, can't always be the top.
No it is really as franchiseconsultants.
It's really good to see that aspinks owners, we've got to set
that.
Speaker 1 (05:19):
Yeah, no, I, that's exactly right.
That's my next phone call is.
Hey, you know GM guy.
I'm not going to say his nameon the podcast, let's go.
But that starts with us too.
We need to help empower them togo next level.
But as franchise consultants,as Pink's brand champions, I am
just so awesome, it's so awesometo watch.
I am awesome, it's awesome tosee all these locations growing.
(05:43):
So for those of you who alwayshave questions for us about
what's it like?
What are your experiences?
The weekly support I love thatwe see our weekly sales numbers
versus all the other offices Ithink I think it's good.
Speaker 2 (05:56):
Obviously it's good for competition.
Just see where you are um.
I think the competitive peopledo well with something like that
, but again it's.
It's good to know.
So.
Even if you're having a downweek and you see that there's
some other people that arehaving a down week, it can be to
feel a little bit better.
Speaker 1 (06:11):
But then you see, other people doing crazy numbers
.
Speaker 2 (06:13):
You're like look what's possible If they can do
it, I can do it.
Speaker 1 (06:16):
And what's interesting is that and this is
the case of Pinks a much smallermarket than ours did $2,000
more in weekly revenue than uslast week.
Speaker 2 (06:24):
So for those of you out there that are sitting there
saying, well, I don't know ifmy market's good enough.
Speaker 1 (06:28):
That's never the case .
It's always the case in almostevery franchise system.
Speaker 2 (06:33):
There's always going to be.
You know your top markets andthere's always going to be one
that's in a territory thatyou're like really yeah, and why
is that franchise owner?
Speaker 1 (06:41):
It's because the franchise owner makes a
difference, and that's whyworking with consultants like us
, shameless Plug to find theright fit for you is the
absolute best thing you can do,because you want to find that
franchise that's going to be agreat fit.
Now I also believe that ifyou're good, you're good.
I mean whether you're running aburger franchise or a painting
(07:02):
franchise or a senior carefranchise.
The things you do as afranchise owner are the same
You're working on the business.
You are having an urgency todrive, sales to deliver great
customer service and rack upfive-star Google reviews.
You're leading a team, so forthose of you out there that are
thinking about becomingfranchise owners, that's a huge
part of this is can you lead andmotivate a team, and how are
(07:25):
you going to do that when youhave a down week?
What's that going to look like?
Do you have that?
Speaker 2 (07:29):
So those are things we actually partnered with.
Speaker 1 (07:32):
A company called Zoracle which does franchisee
profiling, where we can actuallyhave you take an assessment and
we can see those types ofthings.
Where do your strengths lie ina business?
Speaker 2 (07:41):
Yeah, it's pretty cool.
I mean you may know, butsometimes it'll surprise you
with what you see.
Speaker 1 (07:45):
So yeah, I mean you kicked my ass on the sales.
Your sales score was much.
Speaker 2 (07:49):
Yeah, I've never had a sales job besides retail.
Speaker 1 (07:52):
But she's like a natural salesperson.
I mean, every time Jill postson Instagram, a million people
ask her what outfit she'swearing.
Speaker 2 (07:59):
Not today.
Speaker 1 (08:00):
Did you post on this?
Speaker 2 (08:01):
No, but I'm saying this is not going to be one of
those.
Speaker 1 (08:08):
But every saying.
Speaker 2 (08:08):
This is not going to be one of those, but every time
we post a picture on instagram,jill gets like people hitting
her up oh, where'd you get thatoutfit?
Speaker 1 (08:11):
it's so cute not every time but you know again I
think that's to all of you outthere who are thinking about
franchise ownership I I thinkour journey is a good one for
you to learn from and that itcan deliver, whatever your
ultimate definition of freedomis you.
There's always going to be somefranchise owners out there that
tell you they haven't taken avacation in five years.
(08:33):
Those are the same people thatyou work with that told you they
haven't taken a vacation infive years For Jill Trey and I,
it's always been important toenjoy our life, to travel, to
have experiences, and so we haveour businesses fit around our
life because we we want to goexperience things.
We want to go out and traveland do things but we can do both
.
And we've learned how to bepresent while also if we have to
(08:55):
pick up a phone call whilewe're doing things, they don't
have to be exclusive.
Speaker 2 (09:00):
Right.
No, there were plenty of timeson our trip where, you know,
Jack was on a call and Shay andI were off doing something and
there was no like tension.
In fact, it was exciting.
It was like who are you talkingto?
You know, so it like it wasbusiness all day but also
vacation.
It just seamlessly blendedtogether and I think we came up
with even some great businessideas while we were there.
(09:21):
I mean, it was, you know, it'salmost like there's no like
harsh line anymore, but not in abad way.
It's not that we're notseparating life from work, where
we've just kind of blended ittogether.
Yeah.
Well, and I think that's animportant lesson for all of you
out there.
You don't have to draw thisline work life, work life.
Speaker 1 (09:41):
You can do both and I think when you're an
entrepreneur, you know I meanour conversation at the kitchen
table is as much about where wewant to go on our next trip as
it is our businesses and ourhighs and our lows, and how do
we solve those problems?
Speaker 2 (09:56):
And there's no uncomfortable oh, we can't talk
about work at the kitchen table.
No, I mean our son asks aboutwork, he asks about clients and
franchises, and I mean he'sinvolved, because we just talk
all the time.
Speaker 1 (10:10):
He built a website last night he did build a
website.
Last night he built and hecreated a pizza restaurant and
he built a whole website.
Speaker 2 (10:16):
So for those of you that are worried about this, I
would say consider this that asa business owner, those
conversations you're going tohave, you don't need to shield
your kids from this.
Speaker 1 (10:25):
In fact, you might just be creating the next
generation of entrepreneur.
Speaker 2 (10:28):
That's our thought.
Speaker 1 (10:29):
But you know what the cool thing is?
We all kind of get to do it ourway.
Speaker 2 (10:33):
We like to kind of throw it out there and kind of
just, you know, integrate thetwo.
Speaker 1 (10:38):
We both grew up with entrepreneurial parents.
I mean, I don't know, did yourdad talk about the talk?
About business at the table.
Speaker 2 (10:44):
I mean, my dad was on the phone doing business while
I was sitting there and it waslike before cell phones that's
how old I am, so I would justsit there and read the menu.
But we had a great life and Iknew that he was working hard so
I was never upset about it.
I remember sitting at lunch onetime just saying this is like
the daughter of anentrepreneur's life.
You know, we're sitting atlunch.
He's not talking to me, he's onthe phone, but we're also
(11:06):
sitting in a beautiful golf club.
Speaker 1 (11:09):
you know having lunch .
So if I want that kind oflifestyle.
That's what he's going to do,so.
Speaker 2 (11:13):
I'm just used to that .
Speaker 1 (11:15):
I remember vividly my parents discussing making
payroll and figuring out how thehell they were going to do it.
And that may sound scary tosome of you, and at the time it
felt a little scary, but it alsowas kind of cool to see how
they managed themselves when thechips were down.
What do you do in those hardsituations?
Because you know, and you, youguys have heard us say this
(11:35):
before.
Business ownership is absolutelyworth it every single day of
the week, but your first 12 to18 months will be the hardest
part.
I think it's a lot like havinga new baby, but you're nurturing
it, you're growing, you'redoing very important things, and
the same is true of a business.
You have to put in those days.
And there's a whole new thinghappening on LinkedIn now, where
many, many people are nowsharing their experiences.
(11:56):
Certainly a lot of pinksfranchise owners are.
Speaker 2 (11:59):
they're being very transparent, saying this was a
hard day.
Speaker 1 (12:02):
I saw one of the owners post something that
seemed like you know they had areally hard day, but then I saw
the report today and likethey're I mean they're beating
us in weekly revenue.
Speaker 2 (12:10):
So they're growing.
Speaker 1 (12:11):
So just have patience , you know, if you ever want any
sort of tips or have questionsabout what you should do.
I mean, I'll just tell you this, I think, if you're looking to
home service franchising, yougot to have your 50 to 60K for
your franchise fee.
You really need to have atleast 100,000 working capital.
Speaker 2 (12:27):
Now, that doesn't have to be all cash.
Speaker 1 (12:29):
There's a number of different funding sources that
you can use and we're happy toshare them with you If you ever
want to text us at 305-710-050.
Some pretty creative things youcan do with 1Ks that don't
require you to pay tax orpenalties.
So again this while it seemslike the world is in chaos,
that's usually the best time tomake a change, and I think
that's all I got.
(12:49):
We're very excited you guys aregoing to meet our first new, one
of our first new consultantscoming on board.
He will be featured in our nextpodcast.
So exciting stories comingahead.
We also have another guest whowill be coming on soon, who is a
financial wizard.
He's not a franchise owner butthis guy is going to be able to
talk to you about tax strategies, all the things you can do to
(13:11):
keep a lot more money in yourpocket as a business owner.
I'm going to tell you this fitsin with our whole sort of
financial conversation we hadearlier.
You are not going to want tomiss that episode.
So lots of exciting thingscoming down the pipe.
We're very excited to bring allof it to you and we thank you
guys for joining us on thisjourney, as usual.
Speaker 2 (13:27):
Yeah, Thanks guys.
We appreciate it and if there'sanything you want to see, let
us know.
But we have some reallyexciting things coming up.
Speaker 1 (13:33):
You know the drill Text 305-7.
Hi everyone, welcome back to the we.
Speaker 1 (00:02):
Bought a Franchise podcast.
Speaker 2 (00:04):
I'm.
Speaker 1 (00:04):
Jack, I'm Jill and we are back with you guys after
lots of spring break travel andAn extended spring break.
Yeah, yeah.
We get stuck in Hawaii Sad.
Speaker 2 (00:15):
Sucks.
It was unfortunate.
Speaker 1 (00:17):
Yeah, but the good news is is that we were still
able to manage our business isfrom the road, which is
something a lot of you ask about, like what?
Happens to work-life balancewhen you become a franchise
owner.
How's your work-life balancegoing?
Speaker 2 (00:34):
I mean it's good, I think it was really cool.
So when we unfortunately missedour flight in Hawaii, very sad
day.
Speaker 1 (00:41):
Just imagine that whole airport scene.
We're running for the gate,suitcases in hand something like
that.
Speaker 2 (00:47):
Anyway, as we were talking about what it would look
like if we were stuck and wecouldn't get a flight home for a
few days, later what would thatlook like for work and for
school for our son?
And, honestly, work didn'tmatter for us.
It was more of what would we doabout the school situation?
Work for us was so easy to beable to manage.
We could still talk to the teamat Pink's.
(01:10):
We can still run FranchiseInsiders from there.
Obviously, the time makes adifference, but it's a couple.
Speaker 1 (01:20):
You know mornings, it's a couple six hours here and
we weren't actually runninglike math.
At the gate we pulled adisclosure.
We pull disclosure for you tovisualize that we were sitting
by the pool drinking my ties,but listen, that's the fun of
this issue, guys is that whenyou own the business, you don't
have to call and ask some badboss for more time off.
Speaker 2 (01:36):
Now you still have to be a grownup.
Speaker 1 (01:38):
You still have to work with your team, and so when
I called our GM on Monday,morning and he said welcome home
and.
I said no, not quite.
Yet he was like no worries,I've got this, and the team did
a great job doing all the jobsand getting everything done, so
we're grateful for them.
And it's again with.
Speaker 2 (01:56):
Franchise Insiders with helping our franchise
consulting clients.
Speaker 1 (01:59):
that's a business, and I'm excited to tell you guys
we actually have a growing team.
We have two new members of ourfranchise consulting team that
joined us yesterday.
So there's going to be a lotmore insiders coming at you and
we're going to be introducingall of them to you over the next
couple of weeks.
Speaker 2 (02:19):
Every new franchise insider consultant is going to
get their own podcast episodewhere they're going to share
their journey as franchiseowners, because to be a
franchise insider, you have tobe a franchise owner or a former
franchise owner with asuccessful exit.
Speaker 1 (02:29):
So our team is going to be so freaking strong and we
are just going to continue ourmission of franchise owners,
helping people become franchiseowners.
Speaker 2 (02:36):
So with that, there's a couple of things that.
Speaker 1 (02:38):
Jill and I have been kind of talking about in terms
of for you guys and we do theseepisodes like today, where it
it's just us what can we sharethat's going to help you guys in
your sort of franchise?
Speaker 2 (02:48):
search, or maybe you're currently franchise
owners.
Speaker 1 (02:50):
One of the things that I think is most important
for new franchise owners, forexisting franchise owners know
your numbers and there's anumber that I think doesn't get
talked about enough, which ishow much should labor account
for?
you know how much.
How much should you beallocating to labor for a
well-performing business?
And after looking at PNLs fordifferent franchise categories,
(03:13):
different franchise owners overthe years, I really think you
need to set your labor target.
So not like including your GMor executive staff about 25% of
gross.
If you can do that, if you canachieve 25% um paying your labor
25%, you are doing a great joband you are going to see your P
and L look better than it everhas before.
Speaker 2 (03:33):
And with that in mind , that's another thing too, as
on our franchise consultingbusiness.
Speaker 1 (03:38):
We do work with existing franchise owners who
want to sell their business.
Happens all the time, but somany of them Jill they don't
know.
I'll say do you have a P and L?
Speaker 2 (03:48):
And they'll be like.
Well, no, my accountant, does Imean to be honest?
I probably would be like, butyes, I think if I didn't have
you, I would focus more on it,but it is really important to
know.
Speaker 1 (03:56):
Yeah, I mean it's, it's.
It's like knowing your bloodpressure, it's like knowing your
cholesterol.
I mean you should, I think atleast once a week, have a peek
at your P&L At least once a week.
At least once a week.
For those of you a lot of youwho are franchise owners may
have an accountant running yourpayroll for you.
That's totally fine.
You should be, especially ifyou have an accountant.
That means that P&L is probablydialed in on a weekly basis.
(04:17):
Good for you, just to know yournumbers.
Quick health check just to seewhere you are.
And you never know when someonemay come along and offer you
want to buy your business andthe last thing you want to be
able to say is well, when theyask you questions, well, I don't
know the answer to that.
I need to check.
You want to have that P&Ldialed and ready to share with
(04:37):
someone that may want to buyyour business.
So those are just some quickthings I've been thinking about,
as I've been thinking abouttips for you guys who are out
there, a lot of you who join ourpodcast.
You're obviously veryinterested in Pinks and we get
it and by the way I was on the.
Speaker 2 (04:48):
Pinks sales call today Holy smokes like new
locations.
Speaker 1 (04:54):
It's seen there's so many locations now that are like
doing as well or better than us.
It's like I don't know whatthey're doing over there, but
they're like they've gottenbetter and better and better at
training new franchisees.
Speaker 2 (05:05):
Because there's more people, more people, more
experience.
Yeah, can't always be the top.
No it is really as franchiseconsultants.
It's really good to see that aspinks owners, we've got to set
that.
Speaker 1 (05:19):
Yeah, no, I, that's exactly right.
That's my next phone call is.
Hey, you know GM guy.
I'm not going to say his nameon the podcast, let's go.
But that starts with us too.
We need to help empower them togo next level.
But as franchise consultants,as Pink's brand champions, I am
just so awesome, it's so awesometo watch.
I am awesome, it's awesome tosee all these locations growing.
(05:43):
So for those of you who alwayshave questions for us about
what's it like?
What are your experiences?
The weekly support I love thatwe see our weekly sales numbers
versus all the other offices Ithink I think it's good.
Speaker 2 (05:56):
Obviously it's good for competition.
Just see where you are um.
I think the competitive peopledo well with something like that
, but again it's.
It's good to know.
So.
Even if you're having a downweek and you see that there's
some other people that arehaving a down week, it can be to
feel a little bit better.
Speaker 1 (06:11):
But then you see, other people doing crazy numbers
.
Speaker 2 (06:13):
You're like look what's possible If they can do
it, I can do it.
Speaker 1 (06:16):
And what's interesting is that and this is
the case of Pinks a much smallermarket than ours did $2,000
more in weekly revenue than uslast week.
Speaker 2 (06:24):
So for those of you out there that are sitting there
saying, well, I don't know ifmy market's good enough.
Speaker 1 (06:28):
That's never the case .
It's always the case in almostevery franchise system.
Speaker 2 (06:33):
There's always going to be.
You know your top markets andthere's always going to be one
that's in a territory thatyou're like really yeah, and why
is that franchise owner?
Speaker 1 (06:41):
It's because the franchise owner makes a
difference, and that's whyworking with consultants like us
, shameless Plug to find theright fit for you is the
absolute best thing you can do,because you want to find that
franchise that's going to be agreat fit.
Now I also believe that ifyou're good, you're good.
I mean whether you're running aburger franchise or a painting
(07:02):
franchise or a senior carefranchise.
The things you do as afranchise owner are the same
You're working on the business.
You are having an urgency todrive, sales to deliver great
customer service and rack upfive-star Google reviews.
You're leading a team, so forthose of you out there that are
thinking about becomingfranchise owners, that's a huge
part of this is can you lead andmotivate a team, and how are
(07:25):
you going to do that when youhave a down week?
What's that going to look like?
Do you have that?
Speaker 2 (07:29):
So those are things we actually partnered with.
Speaker 1 (07:32):
A company called Zoracle which does franchisee
profiling, where we can actuallyhave you take an assessment and
we can see those types ofthings.
Where do your strengths lie ina business?
Speaker 2 (07:41):
Yeah, it's pretty cool.
I mean you may know, butsometimes it'll surprise you
with what you see.
Speaker 1 (07:45):
So yeah, I mean you kicked my ass on the sales.
Your sales score was much.
Speaker 2 (07:49):
Yeah, I've never had a sales job besides retail.
Speaker 1 (07:52):
But she's like a natural salesperson.
I mean, every time Jill postson Instagram, a million people
ask her what outfit she'swearing.
Speaker 2 (07:59):
Not today.
Speaker 1 (08:00):
Did you post on this?
Speaker 2 (08:01):
No, but I'm saying this is not going to be one of
those.
Speaker 1 (08:08):
But every saying.
Speaker 2 (08:08):
This is not going to be one of those, but every time
we post a picture on instagram,jill gets like people hitting
her up oh, where'd you get thatoutfit?
Speaker 1 (08:11):
it's so cute not every time but you know again I
think that's to all of you outthere who are thinking about
franchise ownership I I thinkour journey is a good one for
you to learn from and that itcan deliver, whatever your
ultimate definition of freedomis you.
There's always going to be somefranchise owners out there that
tell you they haven't taken avacation in five years.
(08:33):
Those are the same people thatyou work with that told you they
haven't taken a vacation infive years For Jill Trey and I,
it's always been important toenjoy our life, to travel, to
have experiences, and so we haveour businesses fit around our
life because we we want to goexperience things.
We want to go out and traveland do things but we can do both
.
And we've learned how to bepresent while also if we have to
(08:55):
pick up a phone call whilewe're doing things, they don't
have to be exclusive.
Speaker 2 (09:00):
Right.
No, there were plenty of timeson our trip where, you know,
Jack was on a call and Shay andI were off doing something and
there was no like tension.
In fact, it was exciting.
It was like who are you talkingto?
You know, so it like it wasbusiness all day but also
vacation.
It just seamlessly blendedtogether and I think we came up
with even some great businessideas while we were there.
(09:21):
I mean, it was, you know, it'salmost like there's no like
harsh line anymore, but not in abad way.
It's not that we're notseparating life from work, where
we've just kind of blended ittogether.
Yeah.
Well, and I think that's animportant lesson for all of you
out there.
You don't have to draw thisline work life, work life.
Speaker 1 (09:41):
You can do both and I think when you're an
entrepreneur, you know I meanour conversation at the kitchen
table is as much about where wewant to go on our next trip as
it is our businesses and ourhighs and our lows, and how do
we solve those problems?
Speaker 2 (09:56):
And there's no uncomfortable oh, we can't talk
about work at the kitchen table.
No, I mean our son asks aboutwork, he asks about clients and
franchises, and I mean he'sinvolved, because we just talk
all the time.
Speaker 1 (10:10):
He built a website last night he did build a
website.
Last night he built and hecreated a pizza restaurant and
he built a whole website.
Speaker 2 (10:16):
So for those of you that are worried about this, I
would say consider this that asa business owner, those
conversations you're going tohave, you don't need to shield
your kids from this.
Speaker 1 (10:25):
In fact, you might just be creating the next
generation of entrepreneur.
Speaker 2 (10:28):
That's our thought.
Speaker 1 (10:29):
But you know what the cool thing is?
We all kind of get to do it ourway.
Speaker 2 (10:33):
We like to kind of throw it out there and kind of
just, you know, integrate thetwo.
Speaker 1 (10:38):
We both grew up with entrepreneurial parents.
I mean, I don't know, did yourdad talk about the talk?
About business at the table.
Speaker 2 (10:44):
I mean, my dad was on the phone doing business while
I was sitting there and it waslike before cell phones that's
how old I am, so I would justsit there and read the menu.
But we had a great life and Iknew that he was working hard so
I was never upset about it.
I remember sitting at lunch onetime just saying this is like
the daughter of anentrepreneur's life.
You know, we're sitting atlunch.
He's not talking to me, he's onthe phone, but we're also
(11:06):
sitting in a beautiful golf club.
Speaker 1 (11:09):
you know having lunch .
So if I want that kind oflifestyle.
That's what he's going to do,so.
Speaker 2 (11:13):
I'm just used to that .
Speaker 1 (11:15):
I remember vividly my parents discussing making
payroll and figuring out how thehell they were going to do it.
And that may sound scary tosome of you, and at the time it
felt a little scary, but it alsowas kind of cool to see how
they managed themselves when thechips were down.
What do you do in those hardsituations?
Because you know, and you, youguys have heard us say this
(11:35):
before.
Business ownership is absolutelyworth it every single day of
the week, but your first 12 to18 months will be the hardest
part.
I think it's a lot like havinga new baby, but you're nurturing
it, you're growing, you'redoing very important things, and
the same is true of a business.
You have to put in those days.
And there's a whole new thinghappening on LinkedIn now, where
many, many people are nowsharing their experiences.
(11:56):
Certainly a lot of pinksfranchise owners are.
Speaker 2 (11:59):
they're being very transparent, saying this was a
hard day.
Speaker 1 (12:02):
I saw one of the owners post something that
seemed like you know they had areally hard day, but then I saw
the report today and likethey're I mean they're beating
us in weekly revenue.
Speaker 2 (12:10):
So they're growing.
Speaker 1 (12:11):
So just have patience , you know, if you ever want any
sort of tips or have questionsabout what you should do.
I mean, I'll just tell you this, I think, if you're looking to
home service franchising, yougot to have your 50 to 60K for
your franchise fee.
You really need to have atleast 100,000 working capital.
Speaker 2 (12:27):
Now, that doesn't have to be all cash.
Speaker 1 (12:29):
There's a number of different funding sources that
you can use and we're happy toshare them with you If you ever
want to text us at 305-710-050.
Some pretty creative things youcan do with 1Ks that don't
require you to pay tax orpenalties.
So again this while it seemslike the world is in chaos,
that's usually the best time tomake a change, and I think
that's all I got.
(12:49):
We're very excited you guys aregoing to meet our first new, one
of our first new consultantscoming on board.
He will be featured in our nextpodcast.
So exciting stories comingahead.
We also have another guest whowill be coming on soon, who is a
financial wizard.
He's not a franchise owner butthis guy is going to be able to
talk to you about tax strategies, all the things you can do to
(13:11):
keep a lot more money in yourpocket as a business owner.
I'm going to tell you this fitsin with our whole sort of
financial conversation we hadearlier.
You are not going to want tomiss that episode.
So lots of exciting thingscoming down the pipe.
We're very excited to bring allof it to you and we thank you
guys for joining us on thisjourney, as usual.
Speaker 2 (13:27):
Yeah, Thanks guys.
We appreciate it and if there'sanything you want to see, let
us know.
But we have some reallyexciting things coming up.
Speaker 1 (13:33):
You know the drill Text 305-7.
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