Episode Transcript
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Welcome to the RV Rental Secrets Podcast.
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.999I'm your host, Stacey Maxson, and I'm thrilled to guide you through the journey of launching, growing, and managing a profitable RV rental business.
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Hey everybody.
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Welcome to another episode of RV Rental Secrets podcast.
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I'm your co-host Gar Russell.
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Along with Stacy.
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Did you start your school yet? Maxon Stacy.
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Did you guys start your school year yet? No.
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So up in New York, they don't actually start until after Labor Day, so we've continued to stay on that schedule with homeschooling.
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Oh, that's right.
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You know, 'cause we were in Michigan when we lived in Michigan.
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Same deal.
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Now that we're down here in Florida.
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Today is our first official school day.
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So, yep.
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So we started this morning, we did our devotions.
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We laid out what the kids, what the school year is gonna look like.
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This is gonna be an interesting year too, because Emma our oldest, this will be her last full year of school.
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So we were just kind of processing that, like, oh my gosh.
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And then about three months ago, my wife Tina bought a restaurant.
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She bought the oldest diner in Okeechobee, this little town that we live in.
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So now we all work at the diner here and there together, so that's gonna be part of the school this year is working at the diner.
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So yeah, we're off to, we're off to the races with school.
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Yeah, I've actually been like researching new curriculums the last couple weeks because we were traveling so much last year, we did a lot of online things.
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And I didn't love it.
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So I'm looking for new options.
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And then my oldest, he's going into high school this year, he'll be in ninth grade.
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So that's a whole new homeschool experience, especially in New York State.
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We have a lot of requirements we have to meet to, to meet the state guidelines.
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So I'm learning all of that and making sure I'm, crossing all the T's and dotting all the i's for the paperwork.
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Yeah.
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Yeah.
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You know, that's the, that's the cool thing about homeschool is you kinda look at what you did last year.
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You kind of reassess what are you gonna do this year.
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So we're doing the opposite of what you were just saying.
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We're, we're doing tablets this year in a lot of online.
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And because of the restaurant.
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So like, because we'll be, well my, the kids might be at the restaurant for a couple hours at a time and doing school.
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So we've been looking for all these online curriculum.
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It is so crazy too, not to get too off track, but we found this like math program for our kids and it's like AI driven.
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So it's like they're interacting with AI and it's like, Hey Noah, what do you like? And Noah's like, oh, I like airplanes.
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They're like, oh, cool.
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You like airplanes.
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Let me teach you about velocity.
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You know? And knowing that whatever his lesson today is about addition.
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And so, and it's like, what else do you like Noah? Oh, I like giraffes.
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Okay.
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And so it's super like intuitive and like engaging and.
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This conversation style teaching, so it's interesting.
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That's cool.
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Yeah.
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Well, hey, speaking of that, what we thought we would talk about today is, what we usually talk about around this time is it's kind of a season shift, right? We're going back into school, which means families aren't camping as much, so that we're out of the craziness of July.
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Things are starting to taper down.
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You know, we, and so just like Stacy and I were talking about like a assessing and, and figuring, okay, what is school gonna look like us for us this year? What a great time to think about our rental season.
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What are some wins? What are some losses? What did we learn? What do we want to implement? You know? Heck, one question I want to ask you, the audience right off the bat is and I don't know if I do this often, do we ask questions and they comment? Is that part of a podcast, Stacy, or no? Yeah, they can comment on our YouTube channel.
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Oh, okay.
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So I'm like, can you even do that? I don't listen to much podcast.
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I'm actually, I'm gonna confess that right now.
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I, I'm not a huge podcast guy.
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I don't listen to a lot of podcasts.
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But my question to you is, when's the last time you increased your price? Right? Like, if you're looking at your camper right now and you're thinking, huh? We did pretty good this year.
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We made some money, but man, our carpet is like beat up or our right.
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The, the furniture gets beat up quick.
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That the, you know, are you making enough to where you're keeping your camper updated through the wear and tear? So that's something like, have you ever even thought of that audience? Like, Hey, I need to look at my pricing.
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Do I need to increase my pricing? Yeah, I see that a lot when people are just renting their own personal camper.
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Or even if they own a couple campers and are just renting them out, they're not necessarily thinking it, of it as a business.
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And you know, they're, they're just looking at, oh, I'm getting some extra cash, but they're not putting the price high enough to cover that wear and tear.
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I mean, you're gonna need new tires like you said, carpet or furniture.
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Are you really charging enough to cover your time? Like I've seen delivery expenses be, you know, a hundred dollars or free delivery.
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You know, your time is worth money and you should be getting paid for the time it takes you to deliver and set up that camper.
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So it's definitely something to take a look at your prices you know, see what other people are charging and make sure you're at least in, I would say the middle.
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You know, you shouldn't be the lowest person out there.
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No, definitely not.
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And I, and that's a really good point to see your time.
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'cause your time is your most valuable asset.
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And and also if you're managing other people's campers, like our fireside franchisees do are you billing for the time where you're working on other people's campers? You know, we just had a.
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In our fireside chats every Tuesday night we do fireside chats with our franchises and we'll come on and teach, kinda similar to this for a little bit, and then we'll do q and a and encourage each other and stuff like that.
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Pray together and man, several of the franchisees are like, realizing I'm putting a lot of time into working on people's campers and I'm not billing them.
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And because I feel bad, but no, this is a business.
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You need to be billing.
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And honestly, that's one of the money making parts of the business is, you know, you know when you take your RV to get worked on somewhere, well, you don't Stacy 'cause your husband's an RV tech.
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But when other people do, when us normal people do, you're paying 1 25, 1 55 an hour.
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So even if you're managing other people's RVs.
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And say you're charging 80% of that, or even half of that, you're charging $75 an hour.
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You need to be billing for that time.
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So yeah, definitely a good time to just be reflecting on those different areas of your business and then also looking at your business and saying, Hey, I just noticed, you know.
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50, 60% of our bookings went to this specific campground.
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Well, that's amazing.
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Maybe you could actually get with that campground and see what kind of partnership you could work out to where a hundred percent of your bookings are going there to where it's, it's very you know exactly the, the layout of the campground, how long it takes you to get through all that kinda stuff, and then you're just servicing that campground.
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Or you can look at it from the other angle and say.
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Hey, most of my bookings are going to one campground.
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Maybe I should diversify a little bit, you know, and it's whatever you obviously have peace with at the end of the day.
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But just looking at those different things instead of switching gears in life.
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Okay? Camping season's over, and then I'll think about this again next year.
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No, think about that right now.
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Make some changes and tweaks that you need to make.
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Like one of the things I would do right now is for next summer, put your minimums to seven nights.
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And increase your nightly rental rate because if somebody's booking right now for next summer that far in advance, you, you want to cherry pick those customers.
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You know, you're gonna have bookings in, you know, mid-June, through mid-August, give or take.
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So make sure you're really maximizing that time.
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So you have a high nightly minimums and high nightly rental rate.
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Also looking ahead to next year.
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You know, see what events are, what the event dates are for popular events in your area, and make sure you set up event pricing for that time period.
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You don't want something slipping through the cracks where they're booking it at a regular price point now before you updated your system to increase the, the price for those dates.
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So definitely make sure to, to do all of that now while it's fresh in your mind.
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Instead of waiting.
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Yeah, when it comes to events, you'd be surprised.
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I mean, you can literally double, triple your price for an event and it's at the end of the day in business, it's supply and demand.
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So the demand increases and the supply is the same, so you increase your price.
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So you can do that on your nightly rental rate, or you can just simply tack on an event fee.
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We have franchises that charge, you know.
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A couple hundred on up for an event.
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Also when it comes to the events too, think about your delivery time.
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If you delivered to an event this year, y'all gonna know what I'm talking about.
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Here is, man, think about how long it took you to actually get into that event.
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Like you may have waited in a line for 2, 3, 4 hours, had to purchase a pass to go into that event.
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And literally that was an all day deal, just to deliver that camper and an all day deal to pick it up.
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So you can easily justify your cost when you're talking to people.
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When they're asking you about, Hey, what, well, why is there an event fee? Or why is your rate so much higher? You know, you can let 'em know.
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These are the reasons why.
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Yeah.
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And you know, you mentioned supply and demands.
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We had a franchise in South Dakota recently.
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They have about 20 units.
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They were all out for an event.
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And they were still getting requests.
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They said if they had a hundred campers, they could have all been rented, you know? So start to think about that if you want to work those events.
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You know, what inventory do you need to get now so that you have it available for next season? Yeah, that's a good, this is usually this.
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What I'm gonna say next is usually something I would only share on a fireside chat for our franchisees, but I feel like I'm gonna just give you guys a little deeper nugget.
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Okay.
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Should I do it, Stacy, or no? I don't.
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You think it'll set the franchisees? I don't know.
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I'm excited to hear what you're gonna say.
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Okay.
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I'm gonna say it, but this here is like, this is the power of community and masterminding and working together.
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Okay, so I'm gonna first, before I say I'm gonna make it a plug for the franchise opportunity, 'cause seriously when you guys are, when you're in a community of people doing this together and you're doing thousands of bookings a year all around the country and you're in different personalities and different events, you learn some things and, and I said this several weeks ago, hard times equal hard lines.
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When you get in some of these pinches, all of a sudden you get really creative and you make a decision.
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So what happened? For this unit in South Dakota actually for South Dakota location, they had somebody that was so desperate for a camper that was basically willing to pay ev anything that they paid our franchisee in South Dakota to go to a location of ours in Colorado, pick up an RV and bring it back.
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Like they, they paid for all that.
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So here's, here's how this applies to you.
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Since you don't have multiple locations, what if you have an event in your area, in your RV books every year for it? What if you were to actually realize that you have access in these situations to more inventory than you know, and, and the.
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And what I mean is during COVID I had a, I laid off all my staff on the corporate team.
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I read an article on Facebook that said, top thing CEOs wish they would've done during 2008.
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The number one thing they stated is they wish they would've laid their staff off sooner because they're kept thinking like, oh, this will pass, this will pass, this will pass.
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Well, what happened is I laid off all my staff and right after that I got an inquiry in Michigan for 72 units.
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To go to the different power plants around Michigan for mobile quarantine units for their electrical engineers.
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So I think I had maybe 35, 40 units at my location.
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So I took all those units, put 'em there.
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But then what I did is I started reaching out to other owners in our network and I started negotiating rentals with them.
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To where I was basically putting them in my fleet for that specific rental.
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And so I was making money off 30 something extra units.
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So what if you're actually to be proactive instead of reactive and say, Hey, I do have this event that happens every year.
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And you started reaching out to owners that were maybe 25 miles, 50 miles outside of this event and start pre-booking their campers at a pre-negotiated rate.
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Then as inquiries are coming in, you're able to assign those units to those campers that you've already pre-negotiated with, and you could do this in a way to where you don't have to actually have money come outta your pocket.
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What if you were to do that so this next year you could actually have.
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Five units or 10 units or 15 units go to this event.
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So now you're more of a broker and you're facilitating instead of just sending your one unit there or doing what I see a lot of other people do that, oh, just makes me cringe when they do it.
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Other people go out and start buying more campers.
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Oh, that frustrates me when I see people buying campers.
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Campers are depreciating.
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They're not an asset.
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They don't appreciate, they depreciate, don't go buy more campers, use other people's RVs.
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Trust me, during COVID I saw several of my big competitors go out of business that owned all their inventory.
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So that's, that's my hack.
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You wouldn't, you wouldn't have thought of that on your own People.
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Don't pretend like, oh yeah, I thought of that already, Gar.
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'cause you didn't think of that already.
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That's a hack that you'd only hear in the fireside family.
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Okay.
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Yeah, that's a good one.
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Yeah, I'm surprised you came out with that.
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That's a, a good insider tip.
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It is.
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It's, it's utilizing other people's assets in a way.
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And then guess what happens is you get people who actually want to just go ahead and leave the RV with you.
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Hey, do you want to keep running that out for me? People who are maybe even renting it out on their own before.
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And they're like, Hey, I made a little bit less, but I did none of the work.
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That's amazing.
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So, alright.
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Stacy, you and I, so we just did this podcast.
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We recorded two other videos and now we got four minutes until our marketing meeting and, and I'll just share about that real quick.
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Okay.
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When we talk about reviewing and assessing and reassessing all these things, so every Monday we do a marketing meeting.
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With our marketing company that we use Ben, our sales rep, Stacy, myself and Tori that does our bookkeeping.
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And basically what we do is we look over all of our metrics, okay? And we say, Hey, what's our roas? What's our KPI, what's our ad spend? And some of those things I just said, some of y'all have maybe, maybe never even heard those terms.
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And guess what? Stacey and I just learned those like two years ago.
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Okay.
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So we're not like super cool marketers, but we get in the rooms and we buy the courses, and we do the things to learn the things.
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So now we know ROAS is return on ad spend.
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So we know, hey, if we put out a dollar, how much will we make and return? You know, if, if we how many leads do we need to pay for to book a call? How many book calls do we need to have to sell a franchise? And so then we can determine our metrics and how we're looking for the month and stuff like that.
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So anyway, those are some of the deeper things that we go into in the Fireside Family Man business can get so deep y'all with, with understanding sales strategies, with understanding.
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Indoctrination sequences and how to educate people.
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I'm gonna tell y'all one more hack.
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Okay.
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This podcast is one of the ways that we give back to this community, but also for us, this podcast, it's part of our indoctrination sequence.
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Okay? Y'all.
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I'm sorry to say that you are in an indoctrination sequence right now.
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We've had many franchises that have signed up because they followed our podcast for a certain amount of time, and they're like, oh my gosh, I've gotten so much value.
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I've gotten to know Stacy and Gar so well, and maybe you've reached out some other fireside franchisees and you've been to a webinar.
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You're like, I gotta be in that community.
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Right.
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So we have all these spokes in the wheel where we're teaching giving value.
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We have a course that we give away, and I feel like we're just going over so much on this podcast.
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Stacy, I know we're hitting all the information.
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I know.
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Do y'all know that we have a free course that we give out that teaches you how to rent your RV out? Should we put that in the show notes too? Yeah, definitely.
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Download the course and then let us know, you know, what you think about it.
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What'd you learn from it? Yeah, we have a free course that we give out that we used to sell.
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We sold it for a thousand dollars.
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We sold it for 500.
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We sold it for a couple hundred.
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And then I think we do have an upsell in there though, where you can purchase the like handheld book, the handheld manual as you go through the course and somehow the, I mail all those out now when, last time I was with Stacy, she handed me all those books and now that's my job.
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It was when you sold your, maybe when you sold your house and when you were full-time in or something, you were down.
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Yeah.
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I didn't have room for everything in the Harvey.
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So yeah, if you do that and I throw in a couple extra goodies, the last couple ones I mailed out, I threw in a couple extra things.
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I think I threw in a free copy of my book and some other things.
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So anyway, y'all all right, that's the end of this episode.
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We gotta jump on our marketing meeting.
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God bless y'all.
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Thanks for joining us, had so much fun with you guys, and we'll see you on the next.