Unpredicted Entrepreneur

“We're so different. If you built us from the ground up right now, you couldn't make us any more different than we are. Yet, we make great business partners because we have a common goal. One of the things that I always try to coach people on, when I'm talking to them about leaving corporate America and considering owning a business, is their WHY. It seems kind of trite, but it is about the WHY. 

What are you trying...

“Our investment is $59,500.00. That’s for a 10-year franchise agreement. It gives you the rights to market anywhere in the U.S. Our franchisees are allowed to have 200 protected businesses at any one time in our CRM system, so that way they're protected. No other franchisee can target those prospects. Two hundred prospects will take you a few months to work through. It doesn't sound like a lot, but it is a lot. 

The way...

“I like to give everyone a checklist of the basics of marketing. I think you should have a one-liner. You should know how to talk about your business in a way that makes people shut up and listen. Everyone wears a sign that says, ‘Make me feel special.’ Rather than cramming your brand down someone's throat, talk about the problems that your company solves on behalf of your clients and make sure that they can understand the...

“We’re continuing to open up studios of our own. We just opened up a studio in Indianapolis that's ours. We're opening up a second one in Indianapolis this year. Courtney and Dustin, our first franchisees to sign on, opened their second studio the day after we opened our studio in Indianapolis. It was a great learning process and so much fun to go through this process shoulder to shoulder with them. We're constantly growin...

“For almost two years, I had this constant back and forth of not feeling fulfilled. I didn't necessarily feel as happy as I once was growing my career in the corporate world. But then I had this other side of me thinking I had nothing to complain about. I had a fairly senior position. I was very well compensated. Then I'd say to myself, ‘Shut up, dummy. Tons of people would love to have your job.’ I was the primary breadwi...

“I think our biggest aha moment was when we were trying to figure out the right profile of candidates to join HOMEstretch. For us, it ultimately boiled down to the people themselves. Part of what we wanted to do at the outset was create a really dynamic culture where everybody believed in our mission of becoming the national leader in the home preparation space, and we got people in the door who truly wanted to create big ...

“It is so long. But it was sure worth it. It's similar to taking a personality test where you’re trying to figure out what will work. Initially, I thought I would have to do something in insurance. That's what I have a background in. And then you said something to the effect that my new business may not be something I’ve done before. So, I thought ‘ok go big or go home! Let's see what the test questions and assessments wil...

“Talk to other business owners in your area to learn about permitting and their experiences. Understand your local fire code requirements and ADA regulations, as these vary by state. If you're in a hurricane-prone area like I am, you may need extra insurance coverage. I also planned for at least six extra months of operating capital. Get involved in local groups like the Rotary Club or Chamber of Commerce to network with o...

“What I love to share is that high success in franchising only happens when you pick the right business. Do the self-introspection first. Do the modeling. Very few people have purchased a business before. They don't know all the different things they need to consider. We take them through 10 to 14 different criteria. We look at their skill sets and seek to understand the transferable skills they enjoy. What are the things ...

“Every moment of my life, from being a practicing lawyer to coming here and working in a gas station where I was breaking down boxes, cleaning and stocking the shelves, I was never bummed out. I knew this was a learning opportunity for me. I learned about the community and building customer relationships. I also learned the details of working hard. Every moment presented to you in your life - get something out of it. Your ...

“During that time, we didn't just build out Massage Envy. The free cash flow allowed us to make other real estate and private equity investments. I firmly believe that a business is a vehicle to help you generate other income-producing assets. Some people aim to simply replace working for the man by running their own business. I get that. The reality is you can do so much more when you build a business, and by diversifying...

“After 25 years of working for some pretty big global corporations, you’re working for a business, but they're more like institutions than they are businesses. It sometimes feels like you're dealing with a lot of conceptual aspects of how this giant machine operates, and you're pretty far away from seeing the value it creates for individual consumers. 

In the case of a small business like this, it's all about the bu...

“You mentioned the SCORE Methodology. Can you give us a brief overview of what that is?

Back to the notion of a symphony. Every family we work with is different. We work with a lot of entrepreneurial families and all of those businesses run a little bit differently on their cashflow schedules, variability, all of these things. S is for understanding their story, what they do, how their life works, and who the key pl...

“I worked for Corporate America for approximately 10 years. I started as an accountant, and a senior financial analyst auditor, working salary-based. I kept seeing everyone else that I would train get certain promotions. I would ask why I wasn’t being considered for a promotion. The response was that I was too good at training people and they wanted me in that seat. So, I figured I’d learn as much as I could so I could eve...

“We ended up with a much larger facility than the model called for. It was one of the earlier locations. I think it was the third location in the system. The facility has a grandiose look and feel with a lot of cut glass. One of the attractive things was that a typical facility today has the capacity for about 32 students for any given class period, and our facility has the capacity for almost 60 students. I thought if we ...

“When someone you’re seeking advice from gives it to you, listen to what they're saying. Be willing to listen. Being in this industry, I’ve learned people really want to help. They want to help and they want to see you grow. I want all of my business owners to be in the multimillion-dollar range because then, all boats are lifted. I'll be able to make more money because they're making more money. It’s a win for all. When I...

“I would recommend looking at multiple different business opportunities so you get a basis for comparison, particularly if you're new to owning a franchise or a small business. If this is something you haven't spent an extensive amount of time on, you have no basis for comparison. It’s important to interview multiple concepts even if something immediately jumps off the page and you think that’s it, still look at additional...

“In the first year, I did $1.3 million in revenue with a 37% net profit. So I was somewhat patting myself on the back, but behind the scenes, I was working 19-20 hours a day, six days a week, I'd work half a day on a Sunday, sleep in a little bit, get some rest and do it all over again. I grew the business very quickly and I thought that's what being an entrepreneur was supposed to be like. You start a business then you ju...

“I  want to point out something in regards to what you were just saying about the consumer and what you look for as a consumer. I believe this is important for any stay-at-home parent who’s listening. I think a lot of times people who've been home with their kids might assume that since they’ve been out of the workforce for a period of time, they might not have the skills to run a business. You are a perfect example of som...