Pillars of Franchising magazine Issue 7 October/November 2022

PILLARS FRANCHISING OF

Help us Celebrate Our First Anniversary

Dear Pillars of Franchising Community:

In this issue, we are celebrating our first anniversary as a magazine and as a full-service franchising consulting firm. It has been a busy year, and maybe we are crazy for launching a new business in the throes of a pandemic and now a recession, but no risk, no reward, right? And when you have gathered a team of highly successful franchising folks, the future looks bright!

This issue covers October and November, so we also address the role of veterans in franchising. Larry Broughton, a veteran himself talks about why veterans make great business owners.

We also talk to Tony Zaccario, CEO of Stretch Zone about this unique service and how it fits into the franchising space.

One of our sponsors, FranchisShow247 comes to us through Katie Bateman who let’s us in on the secret of maximizing your digital footprint.

In our regular departments, we continue to follow Ray Pillar in The Life of Ray to show others how a successful franchise business can give you the life of your dreams. We follow Ray Pillar and his wife, Daisy on their adventures in their brand new “Bus.” Stay tuned for a lot of fun!

As usual, we have a jam-packed issue with our regular contributors and our Million Dollar Mentors, Kristin Selmeczy, Jerry Akers and Ray Pillar who share their perspectives on buying a franchise

We also have informative articles from Nancy Friedman, the Telephone Doctor, on customer service; Susan Scotts on franchise education; Michele Rempel on marketing; Harold Kestenbaum on legal issues; Benetrends on funding; Citrin Cooperman on tax/ finance; Andrea Mundie on women and finding balance and our very own Million Dollar Mentor, David Kajganich on leadership. We also feature Laura Liss franchise attorney who has recently joined the team as well a Lin Schussler-Williams.

Join us on our social media, subscribe on the website and join us every Thursday at 4:00 CT for the Pillars of Franchising live stream! We look forward to serving you, and remember…

The Dream Starts Here!

Elizabeth Denham

Editor-in-Chief

PILLARS FRANCHISING OF

October 2022

CALENDAR

November 2022

Monday Tuesday Wednesday Thursday Friday 1 2 3 4:00 CT Pillars of Franchising Livestream

4 7 8 9:30 CT

Caffeinated Connects – Networking

9 10 4:00 CT Pillars of Franchising Livestream

11 14 15 9:30 CT

Caffeinated Connects – Networking

16 17 4:00 CT

Pillars of Franchising Livestream

18 12:00 CT So, You’re a Franchisee. Now What? –Lunch & Learn 21 22 9:30 CT

Caffeinated Connects – Networking

23 24 4:00 CT

Pillars of Franchising Livestream

25 28 29 9:30 CT

Celebrating Pillars of Franchising Magazine’s

Anniversary

by Johanna Selmeczy

Recently, I sat down with the original partners of the Pillars of Franchising, LLC to discuss what has happened in the year that Pillars has transitioned from a hobby with two old friends (Fred McMurray and Ray Pillar) to a full-fledged business focused on helping people through the process of buying and succeeding in franchising through the podcast, the magazine, our Million Dollar Mentors, and our investment program.

Johanna Selmeczy: How do you guys feel now that it’s already been a year since the beginning of Pillars?

Kristin Selmeczy: I feel like time has flown by. But I’m getting anxious. So, like with any startup, everybody knows that it typically takes a little more than a year. The first year is just figuring everybody out, right? Like, who are the players? Who has what to contribute? How do we put it all together? How do we create this vision? There are so many parts with Pillars, so many “pillars,” right, and so with all of those, it’s creating a leader within each vertical. It’s determining how each vertical generates cash. It’s how you keep people engaged when we all have busy lives and careers outside of Pillars because right now we’re all just volunteering. It’s kind of blood, guts and tears push right now. And there’s nothing except for a vision and everybody’s belief that we will be successful that’s keeping it together.

Fred McMurray: And coffee.

K.S. And more coffee!

J.S. Anything else to add Fred? I mean, you’ve been around for even longer, right? You were the “fearless founder” as it says on the website, so you’ve seen Pillars from the very beginning.

K.S. We call him the mad scientist. Or Evil Skippy, right?

F.M. I like Evil Skippy.

J.S. So you (Fred) founded Pillars on the concept of supporting a friend, right? And now it’s evolved into something that is going (beyond that).

F.M. So it was doing a good deed, as you put it, and helping a friend. Now, it’s about working with friends. Because when you look in your career life, you’re gonna go off and we’ll assume that Pillars won’t be your only job all your life, you’ll go off somewhere else. And you’re gonna find that there are assholes there, and there are people you like and people you’ll get along with and then you’ll forget years down the road, and there’ll be people that you really want to wrap your hands around their throat and choke the living crap out of them but you don’t. So after a certain point in time, you figure out you want to work with people that you know.

The best way I can put it was a way a mentor once put it to me. So there are multiple types of people you’ll find you work with. There are those you’ll never work with no way, no how, no reason. There are those that you will work with for free. Jim Trileven is one of those people. You respect them for what they’re doing, you feel honored to do work with them. There are those you’re going to work with that you will charge the normal price and they’ll pay you. And then there are those that are flaming assholes and you’ll work with them but you’re gonna charge them the asshole price. So you look at all those folks and what you end up deciding is the people you truly want to work with

So there are multiple types of people you’ll find you work with. There are those you’ll never work with no way, no how, no reason. There are those that you will work with for free.

are the ones you want to hang out with. They have a good time with you. You laugh, they laugh, whatever. So it’s gone from doing a favor for a friend to working with friends to make more money and leave something down the road for, in Ray’s case it’s his kids, in my case it’s my grandkids because my daughter will never want to leave teaching because she’s just so busy being a teacher. And you can ask Kristin who it is for her.

K.S. For my kids. Buy I do think that there’s also something to be said that it started by helping a friend and then everyone that’s on the show, everyone involved even, when we talk to them (we ask): “Well, why would you want to work with us? Why would you want to do this? Why would you want to get involved with us?”

And the interesting thing was everybody’s answer was exactly

the same: “I want to help people.” So we went from a show that was developed to help Ray through a period of time to a show full of people who really just want to help everybody and anybody who wants to get involved in franchising. So I think the cool thing is that it’s really at the core, right? We don’t have anybody that works Pillars who’s here for a paycheck. They’re here because they want to be and they’re here because they share the vision and the desire to help other people be successful.

J.S. Yeah, and I think that’s really important. That authenticity to come through because so much of Pillars is founded on that desire to help and helping others reach the same successes that you guys have and supporting them as they start their journey. You’re going into mentoring and that sort of stuff.

K.S. It’s unfortunate that we can’t be a nonprofit, but we can’t.

F.M. Franchising is actually a cover for a team of superheroes that right now are on vacation as you can tell by the way the world’s going to shit.

J.S. Good to know. I’ll make sure to note that, unless you want me to strike it from the record?

F.M. Do not let people know that we’re superheroes.

J.S. Who was the first guest on the Pillars podcast? Maybe Fred, you could speak to that, if you remember.

F.M. The first two guests were Michele Rempel, she was the first one, my partner, and Meg Roberts was the second one. She was why when we had the panel discussion recently with the other big person at the lash lounge, I said: “This does not get Meg off coming on the show again.” There’s very few people we have like that, actually this week’s guest, this will be his third time (on the show).

J.S. And what would you say, when you first started out with Pillars, what was the original purpose other than, you know, helping Ray? Or was that really what it was focused on?

F.M. So the whole reason I started it was because I went through PTSD flashbacks when I left

dinner with him two weeks after Martha died. And given that I’d gone through (losing a partner) myself, I was really having flashbacks. And I decided in my own Fred way I have to do something about his pain. I know. Stupid. That was kind of the input I got from everybody else: What are you going to do? At which point the first phrase I thought of was, well, I’ll see if he wants to do a podcast. He’s got extra time. So that was the genesis. That said, I did not believe people would watch it. A show called Fred helping Ray over his grief just didn’t have a punchy title. So it was about broadcasting the secrets of success in franchising. We still broadcast it, but we tend to offer a wider spectrum of how to help people be successful in franchising. So it’s always been about the success in franchising, whether you’re a franchisee,

franchisor, franchise professional, franchise wannabe–it’s always been about that. At least, that’s the stated tagline of the shop.

K.S. I think this past year, though, has been about defining more clearly our goals or vision, the direction and taking it from simply a podcast to being a full service consulting firm. I mean, having the digital magazine is huge, right? And we could have just done a podcast and a magazine. But nope, we can’t do that. Well, now we’ve got to help people in franchising. Oh, well we can’t just do that. Now, we’ve got to mentor them too. Well, no, we can’t just do that. And the problem is, I think between Fred and I we both have a touch of ADHD. We’re like “Oh, what about this? Oh, yeah, that looks good. Okay, yeah, people want that. Okay, oh wait, what about

this? Oh yeah, yeah, let’s do that.” And so it’s kind of been kind of taking the LLC now and it was like a year ago when the LLC was formed, and I feel like that’s when Fred and I decided “Okay, this is not a game anymore. This isn’t just franchise therapy. Like, let’s get real with this. Let’s really do something, there’s potential here for us to change people’s lives and make things better for all of us. Why would we not do that if we have a platform, right?” And in all those years that (Fred) worked with Ray directly and individually, I think that helped us build a platform and helped us get people at least saying “Oh yeah, I think I’ve heard of that.”

It is funny because it used to be kind of a quirky show. And now it’s still fun but I do think (listeners) are getting a bit more now. So that’s a challenge for us to keep the show entertaining and informational and not to go too far one way or the other. And to make sure that you know now one of our goals is to get the investors so that we can start the mergers and acquisition piece right. So, anything that we do right now and moving forward to me is where we have to make sure that it’s very balanced. Fun, but educational. Interesting, but, I’m going to use the word meaty, that’s not the word you want to use.

F.M. Edutainment.

K.S. There you go.

F.M. I always look for educational and entertaining. You ever take a calculus class?

J.S. Yeah, two years ago.

F.M. Did you fall asleep in it?

J.S. Nearly.

F.M. So I’ve asked this question for probably the last 30, 35, 40 years and everyone who I’ve ever asked “Have you ever taken a calculus class?” and they said yes, they have. I took seven semesters when I signed up in college. I fell asleep in a bunch of them. I was good at it. It was highly educational. No one gives a crap. That said, if it’s all entertainment, and you’re not imparting lasting informational value on people, then they think “Oh, that show was really great. We laughed a lot.” Well, okay, it’s a joke thing, then we can’t make any profit. Whereas if it’s educational and entertaining, it sticks in people’s heads. They have a good time. And it’s a basis of ongoing discussion.

This philosophy is what drives Pillars and what has attracted guests like former NFL player Doug Plank, former WNBA player Jackie Stiles and the Blindside’s Leigh Anne Tuohy. It has what has brought us experienced franchising guests and

contributors who want to share their knowledge and experience like John Cohen, RJ Grimshaw, Matt Wampler, Meg Roberts, Carolyn Thurston, Laura Spaulding and more.

Each and every Pillars partner believes the dream truly does start here.

If you would like more information on how the team can help you find success in franchising, please email us at yourdream@ pillarsoffranchising.com or visit www.pillarsoffranchising.com

What is My Business Worth?

by Harold Kestenbaum

If you’re looking to sell your franchise, you need to know what your business is worth. While this is an important question to answer, it can also be challenging. Too often, a business owner inflates the value of a business because they’re emotionally tied to it. After all, if you’ve put your blood, sweat, and tears into building your franchise, shouldn’t it be worth millions?

What is a Business Valuation Based On?

A common mistake owners make is that they believe their business is worth what they have invested in it, either through money or time. Valuing a business is much more objective than that. The value of a business is based on its future cash flow, which usually can be predicted from historical results of sales and profitability. Buyers

There are some quick ways to calculate your business’ value, such as multiplying revenue by two or multiplying EBITDA by three or four. If you want a more accurate estimate, keep reading, because we’re going to calculate business value using seller’s discretionary earnings (SDE). This is the gross income before non-cash expenses, owner’s compensation, interest expense and income, and any one-off expenses. This is most useful if your annual gross sales are under $1 million.

Here’s the formula to determine your SDE:

(Net earnings before taxes + owner’s draw + non-essential expenses) – liabilities

ue. You can also calculate using EBITDA. If the math gives you a headache, hire a business valuation company to do the work for you. For businesses with revenues over $1 million, this is money well spent. It will not only give you a realistic view of your value, but it will also help your buyer secure financing. You’ll likely be asked about the following aspects:

Start by assessing your business assets. You may have equipment, real estate, or machinery that has a value. Realize that equipment depreciates, so even if you paid $100,000 for equipment a year ago, it’s worth a fraction of that today. You can find fair market value for equipment by looking at Craigslist or eBay to see what used equipment of a similar age is selling for.

don’t care how much you spent yesterday: they care how much they can make tomorrow if they buy your franchise.

While, yes, there are calculations to determine the value, ultimately, your business is worth what someone will willingly pay and what you’re willing to accept.

How to Calculate the Value of Your Business

Once you have your SDE, you can find your business value multiplying it by 1-4. Many factors go into whether you should multiply your SDE by 1 or up to 4, so do some research (your franchisor may even have the answer for you) to determine the appropriate multiplier.

Other Factors That Go into Business Valuation

This is just one method for calculating your business’ val-

Also look at your liabilities, especially if you plan to pass them on to the new owner. Do you have outstanding debt or unpaid invoices? Likely, a buyer will ask you to pay these before they buy, so you’ll need to make sure you have enough profit from the sale to do so.

Next, look at your revenues. If you’ve been in business a while, you can get an average that is fairly consistent year to year.

Too often, a business owner inflates the value of a business because they’re emotionally tied to it.

“

If you are a franchisee, you are part of a system and usually have access to comparable statistics. Talk to your franchisor to see if it has historical data on what other units have sold for. You also can see if other units in your system are listed for sale and what their asking price is relative to their revenue and profitability.

The next step is to talk to local business brokers and ask them what they believe the business is worth and what they could sell it for. In addition to referrals, the best way to find local brokers is to go to websites that

list businesses for sale and see who the local brokers are with good listings. Remember that brokers primarily are compensated on a successful transaction. They won’t want to list your business if you are asking an unrealistic price.

Always remember that your business is competing against all the other local businesses for sale. Take a realistic look at what others are asking and where your price should be relative to your revenue and profitability. Consider current economic conditions: if the country is in a recession, you may not be able

to command top dollar for your franchise, and should consider waiting until the market picks back up.

Learn more about buying or selling an existing franchise.

LEGALT

Harold L. Kestenbaum joined Spadea Lignana in 2019, having unrivaled experience in the franchise industry and in franchise law. He founded and served as President and Chairman of the Board of FranchiseIt Corporation. Harold also authored the first book dedicated to the entrepreneur who wants to franchise called “So You Want to Franchise Your Business.” Contact Harold at hkestenbaum@spadealaw.com or call at 215.774.3365 x136.

Do You Settle

for Second Place?

by Susan Scotts

Do you settle for second place? Second best? Your second choice in a car, spouse or house?

I bet you don’t!

Then why settle when it comes to the work you choose to do? Don’t let another work anniversary go by without having the career of your dreams!

The definition of the word, “settle”, according to Mer-

riam-Webster Dictionary, is “to place so as to stay.”  Do you really want to stay working somewhere that you dislike? If you are like many people I chat with, you may think you are STUCK or have NO CHOICE when it comes to your current career. If

you think there is no room for change, please think again.

So, I get it, we all have to survive in order to have a roof over our heads and food to eat. For years and years, I suffered working for “the man.”

I got up early to care of my son and the house and took the public bus for an hour each way to and from work. I walked ten blocks in the snow, and all that just to get to work! There were days when I put in eight hours straight of working, and just as I was looking forward to lunch and a break, my boss would give me a project before HE went to lunch! To make extra money, which I really needed, I would volunteer for overtime whenever it was available. That meant my husband had to put my young son in the car seat and drive an hour each way to pick me up after it was dark. Of course, I arrived home exhausted and hungry only to do it again the next day. Repeat each workday until the weekend, when I could find time to clean the house and go grocery shopping. When I think back on that time, it’s like a bad dream.

It may not feel like it, but EVERYONE has

another choice when it comes to their work life. You don’t have to work at a job you hate in order to make just enough to make ends meet. You can aspire to more (and chances are even earn MORE) by working for someone you love--YOURSELF!  Hopefully, you love yourself (that’s a separate conversation, - everyone has value). Ask yourself this question, “Have I been successful working for someone else?”  Of course, you have! If not, you likely wouldn’t still be working there.

Here’s another question, “Is there any reason I can’t be successful working for myself?” If the answer is “yes,” read no further; working for someone else is probably the best fit for you.   If it is no... or even maybe, read on.

We have already determined that you have created success for the organizations that you’ve worked for now or in the past.

Would you be willing to work

just as hard to be your own boss? This might allow you to have the flexibility to work from home or the freedom to set your own hours to volunteer at your child’s school or attend their baseball games whenever you like.

Educn

One method that you might have overlooked to provide a career that you direct, is a franchise. A franchise is simply a method of distributing products or services through a system.  It is a way for the franchisor to focus on the high-level operations while entrusting the day-to-day operations to individual operators like you!

They have already created the idea and built in the replicable operating system of doing the business, which includes the tools and technology needed to operate the systems, as well as the marketing and advertising materials for the business. They also train and support you and constantly update and refine the systems. And, just

“ Don’t let another work anniversary go by without having the career of your dreams!

like a recipe, if you are able to follow the steps you should get predictable results.

A franchise can be as small as a home-based operation that you alone work. It could be a small service-based business that others work and you manage. It can be as large as you can imagine, with multiple territories, units, and even different states, employing hundreds--even thousands--of people!

Investments can range from less than what a car costs and go up from there, but there are funding resources that allow you to leverage funds you already have to earn more than they are currently earning without penalties, taxes or interest.  Additionally, there are other options such as unsecured funding that allows you to pay the initial investment,

in addition to providing working capital, without any initial funds needed.

Hey, I got off the bus and learned how to direct my career, why not learn more about owning your own career through franchising?!

You can explore something you are passionate about or a business that allows you to oversee others who do the work. Ultimately, the goal is to give you what you might be lacking today, like quality time to spend with your family, flexibility to join the daytime tennis team, like me, or the option to work from home and enjoy the freedom your spirit desires. Perhaps you can finally use your mentorship skills, lead others, or provide employment or resources to the community. There are so many different

options in over 95 different industries, and the option to learn more is free! So I ask you again, why settle?

Susan Scotts is a multiple award winning career transition coach with The Entrepreneur’s Source® and possesses three decades of experience in helping empower individuals to become entrepreneurs through franchise business ownership. For a complimentary consultation, she can be reached at 561-859-9110 or SScotts@EsourceCoach.com

Succession Planning Considerations for Franchising

by Alyssa Kaye

Business owners today are facing competing demands more than ever before. As economic uncertainty remains and technology and the franchise industry continue to transform, franchisors and franchisees are being pulled in a number of different directions. Oftentimes, creating a successful and effective succession plan is not a top priority. While succession plans take time and resources to create and implement, they are integral to ensuring that the company is in the best position for future growth and continuity and ensuring that key roles remain filled throughout the life of the organization. Owners who do not properly plan for their succession could face a disorganized structure, encounter disputes over the future direction of the business or be forced to exit their business in an untimely manner.

A succession plan is most commonly driven by the overall growth strategy of the organization and the individual goals of the stakeholders. Creating a plan early ensures the plan can adapt to both the changing needs of the business, as well as the interests of the stakeholders. To allow for flexibility, business owners should develop a succession plan early and revisit it often. An entity should proactively anticipate the direction of the business to ensure key roles and responsibilities are clearly defined and extend through the lifecycle of the company. Identified key roles within the organization should be continuously evaluated to determine their significance and identify any gaps in responsibilities.

The most detailed and thoughtfully planned succession strategy is only effective if it is properly executed. To ensure that a succession plan is successful, it should be shared with various key employees and professionals. Getting others involved in the process early will create a sense of ownership around the direction of the business.

Consistent communication

helps avoid unpleasant conversations, as well as aligns the expectations and goals of all the parties involved. Creating unity around the objectives of the organization ensures that decisions about how to manage the company and ultimately deliver success are achieved.

Once a plan has been created and communicated, the company is ready to determine the best strategy to achieve its goals. As a franchisor, there are a number of options available for a successful exit: transfer the franchise to a family member or members, sell or transfer the business to one or more employees, undergo an external succession by selling the franchise to an outside third-party, perform a strategic merger or obtain an investment by an outside investor. Franchisees typically have similar options available when assessing an exit strategy, however, limitations may exist. Franchisees should refer to their franchise agreements and the Franchise Disclosure Document for the specific terms and conditions governing changes in ownership, ownership structure, and selling their business.

Alyssa Kaye

Partner, Citrin Cooperman Advisors LLC

Partner, Citrin Cooperman & Company, LLP akaye@citrincooperman.com

TAXn

Alyssa Kaye is an audit partner in the firm’s Philadelphia office with 10 years of experience providing audit, assurance, and consulting services. Alyssa services a variety of industries including franchising, staffing, and professional services. Alyssa has experience providing audit, review, and compilation services to clients. She specifically focuses on providing audits in relation to mergers and acquisitions for entities acquired by private equity groups. Alyssa also provides consulting services for entities, including preparing and reviewing financial statements, analyzing and implementing new accounting standards, and researching and documenting the accounting treatment of various complex transactions.

Franchise Website - https://www. citrincooperman.com/industries/ franchising

Social Media:

Alyssa Kaye - https://www.linkedin. com/in/alyssa-kaye-cpa/ Citrin Cooperman: https://www.linkedin.com/company/citrin-cooperman/ https://twitter.com/citrincooperman

“Citrin Cooperman” is the brand under which Citrin Cooperman & Company, LLP, a licensed independent CPA firm, and Citrin Cooperman Advisors LLC serve clients’ business needs. The two firms operate as separate legal entities in an alternative practice structure. Citrin Cooperman is an independent member of Moore North America, which is itself a regional member of Moore Global Network Limited (MGNL).

https://www.facebook.com/Citrin. Cooperman.CPAs/ https://www.instagram.com/citrincooperman/

Stretching Your Way Healthy

with Stretch Zone

by Elizabeth Denham

About Stretch Zone

Different from stretching at home, Stretch Zone employs practitioner-assisted stretching. Programs are personalized for each client and routines are per-

formed by trained practitioners. Using a patented strapping system and proprietary tables to position, stabilize and isolate muscles, certified staff members deliver a life-changing stretch experience to help you move

efficiently and effortlessly.

Our very own Kristin Selmeczy and Ray Pillar interviewed Tony Zaccario recently to help viewers and readers learn all about this franchise system.

“

Kristin Selmeczy: I think our audience needs to hear what a Stretch Zone. It sounds like an interesting concept, and it certainly grabbed my attention when I saw it.

Tony Zaccario: For us, it is no sweat exercise. We utilize a pad stabilization system and traffic system and combine that with our proprietary methodology and stretching methodology. We’re essentially able to give a more effective and efficient stretch while the client doesn’t have d too any work at all.

We do all the work, you get all the benefits. It really is that simple. It’s been quite a journey over the past few years. We are up to 200 plus stores and growing. We are at the pace of about two a week. We’re saying we’re staying busy, that’s for sure.

K.S. Well, I love yoga, but I watched a video on YouTube of one of your facilities and what it was like. So, you get on the table and they strap you down, right? The idea of somebody else doing all that work for me and me getting a better fit? Well, I was excited that I don’t have to break a sweat!

T.Z. It’s funny because people come in and either they don’t know how to stretch, which is which a large part of the problem, or they don’t know what to do properly. The straps act as an

Most

extra pair of hands so you are more comfortable on the table and get a more efficient stretch. So, there are those that don’t know how to stretch, and then there are another big majority of people that come in that do know how to stretch but are too lazy. That is me and a lot of other people, I see come in the door.

I think the most impactful thing our clients experience is the difference that stretching makes and the emphasis we place on the method we use. Most people don’t realize the impact that stretching can have on daily life.

Just from a basic goal, you are better able to put your socks on in the morning. From a more athletic standpoint, you will be able to feel better playing around the golf or playing with the grandkids. We can support a wide array of goals and create programs around those goals that are really impactful on the community we serve.

K.S. One thing that I found interesting as I was watching your video and doing some reading is that this is not necessarily just for athletes. It’s not necessarily just for injuries. Can you tell us a little bit about who the Stretch Zone is targeting in terms of clients?

T.Z. It is really for everyone, and I think everyone who first gets exposed to the brand immediately gets it. For today’s weekend warriors who are athletes, it is great for preventative and recovery.

But really, the group seeing the biggest difference is the 45 and up group for men and the 50 and up group for women. Also, we don’t want to pigeonhole ourselves as a fitness niche. We always try to align ourselves with a wellness product or lifestyle service.

K.S. Yes, it’s not just athletes. I’m on the other side of 45. And my generation wakes up in the morning and springs into action.

T.Z. One of the most rewarding things for me as a leader is that we always talk about the direct impact it makes on individual lives. Right. And so, Ray, I know you personally, and I think it definitely is something that you can utilize. Ultimately for the older generation, it really boils down to doing what you love longer. And being able to keep up the routine. Ray, you might love to play golf or hang out with your grandkids or going on walks. The direct impact of this is that you are spending more active time with your family members or maybe spending more

people don’t realize the impact that stretching can have on daily life.

time with your friends.

There’s so much purpose behind the service itself.,It is a great business model and the economics are great, but our employees can feel good when they go to bed knowing that they’re making a direct impact and a positive impact in their community.

K.S. Tony, this is very niche, right? It’s not a yoga studio. It’s not a fitness center. Where do you see guys fitting in and where would you position all of your locations?

T.Z. I would honestly say that we’re a lifestyle service and a lifestyle. that was one of the most challenging components. We understand that you have to educate the consumer not only about stretching, what Stretch Zone is and the difference it can make.

It’s challenging at first just because people want to label you as fitness. They want to label you as massage. It can create some challenges with business licenses because they want to label you as massage. Well, no, we’re not massage. You don’t want to be tagged as massage because then there’s other red tape associated with that. And so that that was always a challenge. But now that there’s been more popularity and we have been disrupting industry as a whole and I think

that that it’s a little easier to help others understand that really this is more of a lifestyle play and really everyone can see the benefits.

K.S. So where do you find your people? Obviously, we’re all having staffing shortages as franchisees right now. Do you do some training for them? Tell me a little bit about that.

T.Z. Yeah. 100%. So there are labor challenges are across the board. I had a conversation with Stan Friedman the other day on our podcast and we were talking about this. And some challenges are obviously affecting some brands more than others. And for us, you know, we’ve always had two major differentiators as a brand: the partner traffic system and our Stretch Zone training program.

We actually were the only ones

with a nationally recognized stretch training program which does a few things for us internally. It means that national insurers recognize it, which mitigate liability insurance for franchisees. It also allows the scalability that you want in any service. Whether you are getting stretched in Anchorage, Alaska or Fort Lauderdale or New York or wherever, you get the same quality of service.

So, to answer that part of your question, we are the certifying body. It makes finding labor that much easier because I don’t necessarily need you to have particular certification to come on board. If you pass our certification, you’re going to be deemed safe and okay to work with clients. Now, that being said, obviously you want to find the people with appropriate backgrounds - exercise physiology, personal trainers and sales

verification, whatever might be.

K.S. You did mention unit level economics being very strong, and I noticed that some of your growth has been through multiunit expansions. So, what do you find? Are the average franchisees multi-unit owners?

T.Z. It’s really increasing by the day. When Jordan and I started the franchise model, we all thought about doing franchising the right way. And what that means is, we always want to keep a low barrier of entry for our franchisees and give the most powerful leverage where their purchasing power is. We incentivize more per unit growth rather than taking rebates or stuff like that. And so that being said, we’ve never been pushy about forcing people to do multi-unit. What we found over time is that people continually add more and more units to where now the average is probably about three per franchisee. But what we’ve seen especially in the past, is the life cycle of franchising. A lot of these bigger owners are starting to purchase more in their respective regions or buy some other existing units.

R.P. What type of individual you’re looking for to buy your franchise? And how much does it cost to get involved in it?

T.Z. So, the cost is going to range anywhere between

$120,000 and $195,000. But also, everyone knows there’s nothing more important than vetting your franchisees and finding the right people that align with the culture of the organization and what you’re trying to build as an organization culturally.

Culture is everything in our organization, and that’s our priority. And so, you know, we’ve focus heavily on making sure potential franchisees align with our core values. We still do in-person discovery days, which is a little bit different.

We’re in a unique position because we have a low barrier of entry. And so, I would like to say, it’s not necessarily someone that has an incredible business acumen, it’s someone who’s passionate about the service, passionate about helping others and really, really, really understands the purpose behind

stretching as a business model -- not just a dollar amount behind structure.

For more information on Stretch Zone, visit: https://www.stretchzone.com/

About Tony Zaccario

Tony Zaccario has been President and Chief Executive Officer of Stretch Zone since October 2019. From July 2017 to October 2019, he served as Vice President of Operations after performing as General Manager from May 2016 to July 2017. Before joining Stretch Zone, Zaccario was the Director of Operations for Forest Energies located in Birmingham, Alabama. He is located at the corporate office in Fort Lauderdale, Florida.

Celebrating the Good Times

with Your Marketing

by Michele Rempel

Celebrate good times, c’mon!” We’ve all heard the classic song, and it’s popular because it’s catchy, but it also has a great message. We SHOULD celebrate the good times in our lives and in our businesses. By the way, congratulations to this magazine on its one-year anniversary. Let’s celebrate!

My company, Westvyne, celebrated its 10th anniversary in 2020. At the beginning of the year, we were so excited about this milestone and discussed how we would communicate it to the world via a coordinated marketing effort. We had our graphic designer update our logo and we planned a celebration for later in the year. Then,

well, we all know what happened in 2020... Frankly, it took the wind out of our sails. We did use our updated logo and announced this milestone via social media and on our website. However, we did not have that party, for obvious reasons. Our twenty-year anniversary party will be a blowout!!

In normal times, celebrating accomplishments or causes makes for great marketing content. It sounds a little self-serving but hear me out. Here are several ways to get the word out about your company, products, and services through Celebration marketing:

1Design marketing content around causes you support that also have a broad base of support, such as the Longest Day for the Alzheimer’s Association. Organize a fundraiser in honor of someone you or someone on your team knows whose life was affected by a health issue. Many organizations are more than happy to help you with the planning and execution of a fundraiser. You can celebrate both the memory of the person affected as well as the amount of money your team was able to raise in the community.

2Celebrate the anniversaries of your employees’ start dates (but make sure they are okay with that kind of recognition). Post their photos and let everyone know how much you appreciate their loyalty and support.

3In a similar vein as above, celebrate the loyalty of long-term customers or clients. Most people love to be appreciated and recognized. Ask your team if there are customers or clients that they have heard are celebrating something significant, like an anniversary, or are active in raising money for a non-profit organization.

Show appreciation by doing a celebration breakfast at least once a year. People have tight schedules and/or many people work from home might want to come and socialize. Open early and provide coffee and breakfast treats. Send them on their way with a little “swag” perhaps that has your logo on it.

5Hold a monthly birthday party in your store or office. Celebrate both team members as well as customers and clients.

If you have a storefront or office, become a once-a-year location to collect donated items for a local non-profit, such as a domestic violence shelter. Celebrate the non-profits’ goals and contributions to your community by highlighting their work on your social media and in emails, as well as sharing their posts when appropriate.

If your brand is associated with celebrating its team, its customers, and its community, you become associated with goodwill and positivity. Start celebrating!!

Michele Rempel is the founder and managing partner of Westvyne, a marketing and website design firm based in California and Illinois. For almost a decade, she and her team have been guiding their clients in what to say, how to say it, where to say it, and who to say it to in order to attract and retain customers. For more information about Westvyne, visit www.westvyne.com

Life of Ray Life of Ray On the Road Again with

Ray and Daisy! “

When you are a Million Dollar Mentor, your life could look something like The Life of Ray. Ray Pillar, owner of Molly Maid franchise locations in the Chicago area, has handed off the day-to-day business to the next generation, and he and his wife, Daisy spend time in their new “bus” on the road for Pillars of Franchising. As our roving reporter, Ray will let us know what is going on out there, and introduce us to franchisees he meets along the way. Stay tuned for more as we follow Ray and Daisy on road reporting in our Life of Ray section!

Building Your Digital Footprint

Through FranchiseShow247

by Elizabeth Denham

Kristin Selmeczy and Elizabeth Denham were so excited to speak with Katie Bateman of FranchiseShow247 and learn more about her platform.

Kristin Selmeczy: So, Katie is our dear friend from across the pond. I can say that, right?

Katie Bateman: Yes, you can.

K.S. Let’s talk about FranchiseShow247 You’ve been doing this for a couple of years now, right?

K.B. Yeah, it’s slightly different. VirtualExpo247 is the umbrella brand that we have. And then we create a number of different virtual community platforms and one of which is FranchiseShow247.

K.S. You are in the UK, correct?

“

So, FranchiseShow247 is a virtual community platform that allows exhibitors to have a virtual space

K.B. Yes. I’m in Surrey. So just outside of London.

K.S. Well, we appreciate you staying up to talk to us about FranchiseShow247. We want to thank you for being one of our sponsors as well here on the show. So, let’s tell our listeners what FranchiseShow247 does for them.

K.B. So, FranchiseShow247 is a virtual community platform that allows exhibitors to have a virtual space. That means that they can update their content on

their virtual space whenever they want. So, if they’ve got news articles, they’ve got seminars, blogs, they’ve got new videos, new images, or testimonials, they can all add that to their virtual space through their client profile with a few clicks of a button.

So it’s a really, really easy way of updating content whenever you want. Our main objective is to have the exhibitors all have an equal opportunity on the platform. So, nobody has a bigger presence than anybody else. Everyone has the same virtual

About FranchiseShow247

FranchiseShow247 is a virtual franchise exhibition community that showcases franchising advice, support and opportunities. A community where there are no restrictive financial barriers to exhibiting. A place where all companies have equal status and a place that is accessible 24/7 anywhere in the world.

space and package, so there’s no sponsorship. It allows visitors to come into the site free of charge.

K.B. They don’t have to sign up and they can explore the exhibition hall, you know, 24/7 and they can contact the exhibitors. They can see franchise opportunities but also franchise owners can actually go onto the platform and look at advice and support and other businesses that can support them with their services as well.

So it’s all about bringing together, you know, a community, a virtual community platform and sharing content. And that’s really important in this day and age with exposure of brand awareness.

K.S. Yeah, I was on the platform for a while last night. For people listening who think that you might be interested in exploring what kind of franchise opportunities are out there, if you go to FranchiseShow247.com, it has everythibng broken out into categories. So, for example, if you’re looking for something in food or you’re looking for something in cleaning or you want something in services, there are all different categories that you can click into and then it takes you into the virtual space where you can find the different franchisors.

K.B. There are three easy ways to search for exhibitors. There’s the traditional list. There’s selection in the floor of your choice, but there’s also a search bar as well.

And actually, each exhibitor, you can search for them via the category. So, if you were just looking for a care franchise, you can do that in the search bar or you can actually select the region that you’re looking for as well. It is a really easy way to navigate around the virtual exhibition hall.

K.S. What have been some of the biggest challenges for you in managing such a big, robust platform?

K.B. There were a number of challenges that we’ve come across along the way. This was launched over time, and there was COVID. We had to get the message across about our new concept. We are not taking anything away from physical events, tradeshows or anything like that.

There’s a true key place for them to continue, and we all love going to them, seeing face-to-face meetings, etc. and networking But we’re not a one or two-day virtual event. We are online 24/7 and with all experienced in the last couple of years, we have found there is a place for this.

K.B. We are educating people about the concept and educating people on how it’s going to benefit visitors, but also exhibitors. It’s been a bit of a challenge with the COVID situation. Some virtual events have not been that successful, and that doesn’t matter what industry you’re looking at, but I think educating people about the concept and how easy it is to incorporate into your marketing mix so your marketing team can say, “Right, well, I can quickly update this in a couple of minutes and they’ve got the details, they’ve got all the information.”

Elizabeth Denham: As someone who loaded our stuff onto the platform for Pillars of Franchising, it is very user-friendly. It is very easy. There are emails with instructions that you just click and it says, “Okay, here’s what you do now.” It’s really not intimidating once you get into it. It works flawlessly.

K.B. And don’t forget, you get support from our content team as well. So, you have a content manager that will help you every step of the way. So, if you’ve got problems with uploading YouTube clips, you can email them or you can go onto the chat facility on the platform, drop your message in and we’ll be there to help you.

K.S. So Katie, it seems like a silly question, but you’re U.K.-based company. I’m sure that you are loaded with UK-based franchise owners. Do you also have franchises from the U.S. and Canada and other places?

K.B. Yes. So, the platform is not just UK-based, it’s global. We have visitors from across the world. We have exhibitors from the U.S. and now in Australia as well. We also have other ones across Europe. So, you know, wherever you are or whatever you’re looking at, there is opportunities out there.

If you would like to learn more about FranchiseShow 247, visit www.franchieshow247.com

Exerum fugiandio mincilluptas velectum adigendunt ad min re ratem audisquiat.

About Katie Bateman

Katie has been the face of FranchiseShow247 which is one of the many platforms under the VirtualExpo247 umbrella. FranchiseShow247 is an online community that showcases franchising advice, support, and opportunities. A community where there are no restrictive financial barriers to exhibiting. A virtual exhibition platform where all companies have equal status and a place that is accessible 24/7 anywhere in the world. A place to help with exposure and brand awareness.

ATTENTION FRANCHISEES .....

How Are You Doing?

by Nancy Friedman

When it comes to customer service, it is important to give yourself an honest report card periodically. Often, we are so busy focusing on the day-to-day that we do not stop and evaluate how we are doing from the customer’s perspective. Have you asked yourself the following questions lately?

• How would your customers rate your franchise customer service?

• Does your staff, from you as the owner to your frontline staff, rate an A+ or an F?

• Do you train your employees, or do

you just wing it when it comes to training in the customer service area?

• When a customer walks out of your franchise establishment, would you get an “A” or an “F?”

This is not brain sur-

gery. Think about it. What is your franchise grade? I’m not a fan of big surveys. All you really need to know is if you got an A, B, C, D, or F on service, that would tell you a lot.

Failing at customer service should be an embarrassment to you. As a franchise owner, how can you go about getting higher scores? And please remember it only takes ONE staff member (including you, the franchisee) to bring your grade average DOWN.

Is your staff, and we’re talking all of them, helpful and knowledgeable? If not, your brand and reputation could be badly damaged. Very quickly! Never has this been truer than in our current social media universe where viral shaming is commonplace and an all too real occurrence.

So, what can franchise owners and franchise managers do to encourage excellent customer service? Here are five easy tips that will help up your game and provide better customer service that will generate sales and repeat customers:

*Start some sort of training — NOW! If you have some customer service training in place,

review it with your employees. DAILY. If you don’t have a customer service plan in place, think about bringing in an experienced expert to spend time training your staff. Investing in YOUR people will pay off wildly.

And if time and/or money is an issue for you, remind your staff that, “Please,” “Thank you” and “You’re welcome” go a long way, cost nothing, and leave a lasting, positive impression on customers.

* Meet with your staff at the end of each day. Yes, Each Day Discuss what went wrong and what went right. Make sure any customer service concerns are addressed immediately and solutions are made so customers are always satisfied.

* Preare your managers and staff with a mental suit of armor. Make sure they’re aware all customers fall in between nice and difficult. Prepare them for the occasional abuse. Warn them in advance and make sure that when those incidents happen that your employees will still treat customers with politeness and respect.

* Make sure your employees care. Above everything. It’s vital your staff — from top to bottom

— shows they care and want to help. Remember: your customers don’t care how much you know; until they know how much you care!

* SMILE! The most important customer service win: SMILE! Don’t let your franchisee employees greet customers without a smile. A smile leaves a positive, friendly first impression. Every time.

CUSTOMER

Remember. If your franchise doesn’t provide an “A+” grade in excellent customer service and fails to leave a positive impression, you risk your brand and reputation. Plus, you’re automatically giving the competition a helping hand.

Nancy Friedman is a popular speaker in the franchise industry and a highly respected customer service expert. Email: Nancyf@telephonedoctor.com. During COVID, call her cell at 314-276-1012 or office: 314-291-1012 (central time) and visit www.nancyfriedman.com Need a company Zoom meeting? Or a 30-minute RX Shot in the Arm for your team? We’d love to share our tips, ideas, skills and techniques with you and your team.

“ Failing at customer service should be an embarrassment to you.

The Scoreboard Doesn’t Lie

by David Kajganich

It doesn’t matter if it’s sports or business, the numbers tell the story. The scoreboard doesn’t lie.

The financial statement doesn’t lie. We live and die by our ability to perform against our opponents or our metrics.

In sports, we know who won by looking at the scoreboard at the end of the game. The scoreboard doesn’t care what the circumstances were that dictated the final score. As my dad used

to say, “The conditions/ field/weather were the same for both teams.”

Basically, quit whining and making excuses. The other team had the same conditions.

So, it is with business also. Our competitors are facing whatever conditions we are facing. Whether it is the economic conditions, employment issues, supply issues, prospecting, etc. - no time to make excuses because the financial statement doesn’t care.

It really doesn’t matter what you call them…targets, goals, objectives, etc. but you have them in your business. The numbers are extremely important to you, but are they important to your team? Do your employees care if they “win the game” or not? If not, how can you possibly expect to win the game if the players don’t care about the score or aren’t affected by the outcome? Heck, do they even know how the game is going; whether they are winning or losing, do they know the score?

Worse yet; what if they don’t even care? Or are they just going through the motions? Research shows that 55% of employees are not engaged and 20% don’t care at all. Yikes…75% aren’t engaged!

What can you do?

First, you can’t allow disengaged employees to remain in the organization because they will be detrimental and cancerous to your business. Second, you must demonstrate to each employee how what they are doing impacts the entire company. Third, the employees need clarity of expectations; exactly what to do to win, what’s expected of them, how to achieve it and how will they know when they have.

Get creative. Set up a “scoreboard” for the team and each individual performance. Review it weekly or monthly, or whatever is suitable for your business. Set some goals and targets to meet. If this is new, then set some small targets. Get some “early wins” to build confidence and momentum. The most important emotional and psychological state for high performance is confidence.

Build their confidence. Teams can achieve greatness with it. Without it, they will crumble.

Once they have the confidence, accountability is easy. They know the targets. They have clarity and certainty. The scoreboard keeps

it simple. There is no guessing what is expected of them. Keep the energy going by having short-term objectives. Always have something to strive for.

How will you know how you are doing in leading them?

Check the scoreboard.

Leadership

David Kajganich is one of Pillars of Franchising’s Million Dollar Mentors. He began his career in franchising in 1992 when he became the first franchisee for Buffalo Wild Wings. Within the first year, he reached more than one million dollars in revenue, and for nearly three decades, he successfully ran multiple units until he sold the business in 2020. David was also involved as an area director for a quick service sub sandwich concept as well as for a fitness franchise. Through his experiences, he honed his skills in the areas of leadership, performance coaching, influence and persuasion to help franchise owners get the most out of their managers and employees. He is currently a performance coach through his business, Eagle Status Performance, LLC. You can reach David at david@davidkajganich.com.

“ We live and die by our ability to perform against our opponents or our metrics.

Celebrating

Isn’t Just Fluff

by Lin Schussler-Williams

As we are celebrating the one-year anniversary of Pillars of Franchising, it is a great time to ask ourselves whether we are putting the power of celebrating to work in our own businesses.

You might think, “Really? The power of celebrating? Sounds like a bit of fluff to me.”

Bear with me, and I promise by the end of this (very brief) article, you’ll be celebrating with me!

Neuroscience and most of the world’s wisdom traditions have taught us that what we focus our attention and awareness on grows in our experience. I won’t go into all the sources, but if you really want to know, just Google “what you focus on grows _______ and fill in the blank with neuroscience, scripture, the name of any major religion.

Here’s one way to say it from leadership expert Robin S. Sharma:

What you focus on grows, what you think about expands, and what you dwell upon determines your destiny.

This works in the negative too. We probably all know what it’s like to dread that trip to the dentist next week and have our dread feel like a self-fulfilling prophecy.

If it’s true that what we focus on expands in our experience, then what you focus on in your business, and what you help your team focus on in your business, grows in the experience of all

the people who matter: your customers, your team, and of course, yourself.

Given this idea, making celebration an integral part of your approach and your team culture, well, it’s simply common sense.

Let’s explore three ways to put this to work:

Celebrate on Purpose

You set up celebrations on purpose and on a regular schedule – for yourself, and if you have one for your team – that makes celebrating a habit. Habits become real when they are our responses without thinking. Habits require us to give our attention and focus to something in order for it to become a habit, and, well, we have already established, what we focus on grows.

Creating as a habit can feel forced, so it is important to be genuine and to remind everyone involved in the exercise that the payoff is, well, more to celebrate. Just ask Oprah:

The more you praise and celebrate your life, the more there is to celebrate.

Celebrate Even When It Sucks

It is important to remind everyone involved that one of the most powerful things about a celebration habit happens at the end of a hard day or week when, despite the circumstances, you reach for what you can see as good; even if it is just that it is over, you learned something, or things are looking up!

The trap of a hard day, week, month, year, or decade is that it is so much easier to complain. It even feels reasonable to complain, and often impossible to celebrate. But raising your focus to look for something worthy of even a small celebration is a mindset hack that pays big dividends.

Celebrate in Advance

Lastly, the pro tip is to celebrate in advance and to make doing so a habit.

“ Train your mind to look for the good in every situation, and you will find more good than you ever imagined. Teach others to do it too, and you will flourish together.

I lead a group of women who gather every Friday morning to celebrate wins from the week past and declare what they will celebrate next Friday.

It might sound like this: “This week, I am celebrating that I made the tough phone call in my business I’d been dreading and got a happy customer in return. Next week I’ll be saying, I am so happy and grateful now that my new happy customer is thrilled with what we delivered and has introduced me to another potential client.”

Celebrating in advance may seem awkward or silly but ask any gold medal Olympic athlete if they visualized the win before

it happened. Most will say yes. We accept the idea of visualization when it comes to athletic achievement, why not for your business? What might happen if you asked your team not only to celebrate something they feel good about from the last week but what they’d like to feel celebration-worthy about next week?

Athletic trainers around the world know that your subconscious mind does not know the difference between experienced success and imagined success.

So, let’s celebrate as if it’s already happened, in advance!

Next year, about this time, I will be so happy and grateful that Pillars of Franchising has had a ban-

ner second year, and all its readers are happy and prosperous!

Lin is a sales coach, author, and founder of UPRising - Unstoppable Powerful WOmen, a community where the genius of women connecting grows.

Website link meetlinhere.com

Women in Franchising

Recognizing Your Accomplishments and Celebrating Your Own Success

by Andrea Mundie

It’s our first anniversary of publishing our magazine, and at Pillars of Franchising, we are celebrating our success as a resource to the franchise industry. But let’s pause for a moment and reflect on our personal successes.

Do you take time to recognize and celebrate when you have accomplished a goal or been successful? It seems to be a pretty typical pattern that many women do not celebrate our accomplishments. Let’s dig into why, why it is important and how to make changes toward more personal acknowledgment of our success.

I remember a pivotal moment years ago when I was a new franchisor. I was in the throes of opening new locations with franchisees while also still opening some corporate locations. I had just found out I was having another baby (3 of my 4) and had moved a week prior into a house I was so excited to be able to live in. There were many great things happening around me. Right after we opened one of the new locations, I remember heading home and thinking, “I have a couple of hours to plow through emails before heading to bed.” And then I realized in that moment, I had not even taken a second to reflect on the accomplished goals or to celebrate. I moved into my new home, was opening new locations, having another baby and achieving the goals I had set. Yet I was trapped in the cycle of the next thing on the list. Luckily, I caught myself and took a moment to breathe it in and look hard at all that had been accomplished in short suc-

cession. While it may not have been a big ‘celebration’, recognizing when we have achieved our own definition of success is important.

Certain attributes have historically been viewed as negative when displayed by women. From young ages, we have been told that being humble and quiet is more appealing than being boastful and gregarious.

Assertive women have long been called aggressive, while assertive men who display the same behavior are called “strong leaders.” So it makes sense that women may tend to downplay our accomplishments in order to avoid these feelings.

Women also tend to celebrate the success of others more often than their own. If we have children, nieces and nephews, we are often in situations where the first thing we discuss is their accomplishments. We are called “proud moms,” or “proud aunts” and we genuinely do feel proud. But we can be equally proud of our own successes, and in turn, teach those who follow in our footsteps to do the same. And there are many good reasons to recognize and celebrate us.

Why is recognizing and celebrating our success important to our mental well-being?

1. Accomplishing goals has a

motivational effect. We want to do it again.

2. When we feel competent, we feel more confident.

3. When we feel confident and successful, we tend to emit more positive energy towards others.

4. When we feel recognized, even when the recognition comes from ourselves, we don’t harbor feelings of resentment.

How can we make some simple changes to move into recognizing and even celebrating our successes?

Here are a few changes to make right away.

1. Goals and Timelines — Be clear on what success looks like to you. Write out your goals and timelines for achieving them.

2. Don’t Compare — If you have set your own goals based on YOUR vision of success, other people’s success is their own and does not diminish yours.

3. Rewards — Create celebration rewards alongside your goals. This could be purchasing a coveted item for yourself or rewarding your-

4.

self with a day alone to rest and relax.

Share with Your People

— Share these goals and rewards with those who support you. When they see you accomplish the goals, they EXPECT you to redeem your reward.

a different and sometimes better outcome? This could be a pivot to something better or a new path you’d otherwise not have discovered.

7. Keep a Gratitude Journal

— I love one on Amazon called ‘Mindful as F%*k!. It is super quick and easy and literally changed my perception. In the ‘blessings’ section, I started to recognize myself sometimes and express gratitude towards myself at times. It is acceptable and positive to

period of time to reflect on the amazing things you have done. Especially at times when we might be feeling low or less than successful.

With so many women becoming involved in the franchise industry, we have a lot to celebrate. And when we notice a reason to celebrate another woman, take it and make sure she celebrates too. Happy Anniversary!

5. Don’t Meet All Your Goals —

Don’t beat yourself up about the goals you don’t meet. I personally believe we should meet about 75% of our goals. If we met all of them, they were likely too easy to accomplish. If we meet fewer, they are likely too out of reach and unrealistic.

6. Reflect on Your Failures

— Focus on your successes but reflect on your failures. How did the failures create

8.

express gratitude towards yourself. This could be how you handled a difficult situation or accomplished something challenging. But small check-ins and acknowledgments, even privately, move you in the direction of being more celebratory about your own successes.

Look Back Over Time —

Keeping track of your goals and having journals are great ways to look back over a

Andrea is the Principal of Coltivare Strategy, a Consultancy she founded to help businesses in the areas of Franchising, Retail, Cosmetics/ Beauty, Marketing and Strategic Planning in order to scale efficiently. She has worked with some of the best brands in Franchising, recently Massage Heights, and is currently Head of Marketing at Woven Brands. Andrea is the former CEO and President of skoah, a Vancouver based skin care company with locations in Canada and the US. She co-founded and co-owned skoah for 19 years, before exiting in January 2021. You can reach her at: andrea@coltivarestrategy.com

When we feel competent, we feel more confident. “

Why Veterans

Make Great Business Owners

by Elizabeth Denham

In honor of Veteran’s Day, we invited Larry Broughton to discuss his experience in the military, how that has played a role in his success in his post-Army career, and how it translates to business ownership, especially in franchising. As a former Green Beret in the Army, Broughton believes that tenacity is one of the key characteristics of success.

“I like to say, ‘tenacity eats talent for lunch,” Broughton said. “There are a lot of very talented people out there, whether it’s in sports or business or academia. But when the going gets tough, they quit. The thing about folks that have been in the military -now, don’t get me wrong, there are a lot of veteran imbeciles that are out there, just like there are imbeciles on every community right -- but for the most part, veterans have been tested. They know what it’s like to grind through something just because it’s got to get done.”

Broughton notes that he also sees people in startups quit when the going gets tough. “Believe it or not, I’m not saying I’m not one of these believers who think that, you never, never, never, never quit. You hear that mantra, right?” he said. “I’m not a fan of that because we don’t know what’s going on in people’s lives. I’m not suggesting that people drive their life off a cliff, but I do think there’s a difference between quitting and saying enough is enough.”

Broughton believes veterans are uniquely positioned with a special kind of leadership experience. He knows that they know what it’s like to be on a team, to participate, to know that by everyone working together, you can outmaneuver and outperform larger enemies. And those larger enemy units in the en-

Broughton explained. “There are a lot of veterans who don’t think that they’ve got the capacity to be a business owner because many of these folks think they have got have a college degree or maybe they didn’t score at the top of their class in high school or don’t have the finances to do it. But the truth is, if you’ve got the tenacity and you got some modicum of intelligence, you can do it. It’s finding the right fit.

trepreneurial space might be a competitor across the street. So, you must be tenacious.

“I’ve spoken to tens of thousands of veterans at veteran entrepreneurial conferences,”

And he thinks that franchising can be a great space to find that right fit.

“I think that sometimes people get confused between business ownership and entrepreneurship,” he explained. “There are

They know what it’s like to grind through something just because it’s got to get done.

“

entrepreneurs who are franchise owners. They’re business owners. But you don’t have to be an entrepreneur to be a business owner. That is where franchising comes in. The best ones are a business in a box. You buy the systems, you buy the shop, you buy all of the hard work has been done. Most of the hard work has been done for you, right? The concept, the branding. Who is my who’s ideal client avatar? All those types of things have been done.”

Broughton also believes that veterans are a group of people

who know how to work hard, and while a lot of the initial work has been done by the franchisor, there is still a lot to be done. But you have people who can mentor you, who’ve been there before, who can say, ‘I get that. I’ve been there.’’

Top 7 Reasons Veterans Make Great Franchisees

• Leadership skills

• Work ethic

• Ability to execute a process

• Ability to delegate

• Ability to work within an established system

• Willingness to be a team player

• Willingness to persevere

If you are a veteran and are interested in franchise ownership, please reach out to yourdream@ pillarsoffranchising.com.

About Larry Broughton

Larry Broughton is an award-winning entrepreneur and CEO, bestselling author, serial entrepreneur, keynote speaker, and former Special Forces Operator. As a former US Army Staff Sergeant, serving 8 years on Special Forces A-Teams (commonly known as the Green Berets), Larry has parlayed the lessons learned from his time in service to his country and applied them to the business arena attaining extraordinary success.

Larry Broughton is the Founder & CEO of Broughton Hotels, a leader in the boutique hotel industry; and yoogozi.com, an inspirational online learning forum for leaders and high achievers. Larry has received several business awards, including Ernst & Young’s Entrepreneur of the Year®; the National Veteran-Owned Business Association’s Vetrepreneur® of the Year; Coastline Foundation’s Visionary of the Year; Passkeys Foundation’s National Business Leader of Integrity; and Entrepreneur Magazine included his firm on their Hot 500 List of Fastest Growing Private Companies.

Paths to Business Ownership for U.S. Veterans

by Eric Schechterman

On Friday, Nov. 11, the nation pause to mark Veterans Day, a federal holiday in remembrance for all who have served in the various branches of the U.S. Armed Forces. The origins of this occasion began at the close of World War I when the belligerents signed an armistice. It occurred in the 11th hour of the 11th day of November, ending the global conflagration that was so dreadful, it was referred to at the time as “The War to End All Wars.” Our veterans are a stark reminder of the debt of gratitude we owe all who served in the armed forces. Those who served, and those who still do, have gained valuable skills and experience that can easily translate to success in civilian life – especially for those who desire an entrepreneurial future. And thanks to the highest participation levels in history for veteran-focused entrepreneurial programs, there’s never a better time for U.S. veterans to secure funding for entering the world of business ownership.

Why Veterans Make Good Entrepreneurs

Approximately 10% of all small business owners are veterans, which should come as no surprise when you consider the factors that make them a great match for entrepreneurial pursuits. Veterans understand the value of leadership and success that’s shared by a team. Their level of discipline make them excellent candidates for franchising, as they can intuitively follow a proven business model’s roadmap to success. They’re also no strangers to hard work and sacrifice, qualities that new business owners must possess to launch their pursuits. Lastly, the courage

to perform under difficult conditions and critical problem-solving skills are required for entrepreneurial ventures – especially franchise-related opportunities.

According to some of the most recent data from the nonprofit VetFran, veterans make up approximately eight percent of the U.S. population, but they’re twice as likely as individuals in the general population to own a business of their own. Almost 10% of all small businesses in the U.S. are owned and operated by veterans. They currently own 14% of all franchise units and over 70% of all franchisors report having at least one veteran owner in their system.

Paths to Business Ownership for U.S. Veterans to Consider

According to some of the most recent data from the nonprofit VetFran, veterans make up approximately eight percent of the U.S. population, but they’re twice as likely as civilians to own a business of their own. Veterans can be found at the helm of about 14% of all franchise-related businesses and over 70% of all franchisors (brands) report having at least one veteran owner in their system. A few business models that align with franchise ownership among veterans include the following:

Approximately 10% of all small business owners are veterans…

“

Tips for Veterans to Secure Funding for Small Business Ownership

The sheer depth and variety of franchise concepts, particularly those considered recession-resistant business models, are available to veterans – most of whom offer generous discounts to servicemembers. What’s most important for veterans is to understand the full range of their funding options. Here’s some helpful and specific advice for veterans prior to beginning the lending process:

Have Your Affairs in Order –make sure you have an up-todate copy of your credit score and credit history, as well as a detailed business plan, covering the launch and first year of your franchise operations. This includes your proposed pro-forma, assets and liabilities, market analysis, financial projections, and at least six months of personal bank statements on hand

Lending Options for Veterans

Veterans looking to fund the purchase of a franchise operation have many funding options to choose from, including banks, the U.S. Small Business Association (SBA), third-party lending from the franchisor, alternative lenders, crowdfunding, and even 401(k) retirement funds. The most important step to take

is to compare all of your options. Below is a brief summary of the most common avenues:

Commercial banks – depending on your banking history, your personal financial institution may be an advisable option – especially if it’s a veteran-based credit union. They should already be familiar with your risk profile. The lower the better when it comes to the loan amount and interest rate you’ll be offered

SBA loans – the SBA offers two loan programs, 7(a) and 504 Loans, specific to small business ownership and startups. Both offer flexibility, lengthier terms, and potentially lower down payments. Ask about the SBA’s Patriot Express Loans

Franchisor – many, but not all, franchisors either offer their own funding, or financing through one of their third-party affiliate lenders. If you go this route, it’s important to understand what percentage of the debt financing they’ll assume. Percentages can range from 15-75%, and some terms are structured quite differently than traditional banks. Make sure to read all of the fine print

Retirement accounts – provided candidates have a healthy 401(k) savings program, rollover funding may be an advantageous option. Rollovers for Business

Startups (ROBS) is an option that allows you to draw the necessary funds from your retirement account without additional taxes or penalties – provided you meet a stringent set of requirements

Let’s not forget that November is more than just Veterans Day. It’s also National Veteran and Military Families Month, a time to pause and reflect on the sacrifices our servicemen and women have made in the defense of our country and the freedoms we often take for granted. If you or someone you know is a veteran who is interested in an entrepreneurial future, this would be a great month to lend a hand.

Eric Schechterman is the chief development officer at Benetrends, the International Franchise Association’s (IFA) preferred vendor for ROBS rollover financing and a trusted leader in franchise and small business funding for over 40 years. He can be reached at eschechterman@ benetrends.com.

Featured Vendors

UniFi Equipment Finance

Formerly, Ervin Leasing, UniFi Equipment Finance provides superior service with a variety of lease plans on virtually all types of commercial equipment. We have earned a reputation for service and integrity. Our lease representatives are experienced professionals in the leasing industry and the equipment markets they serve. UniFi/Ervin Leasing has been a proud member of the Equipment Leasing and Finance Association (ELFA) since our inception in 1978. The two companies share a mission for quality service, strong credit culture and a commitment to build our communities. For more information, visit: www.teamunifi.com

Spadea Lignana Franchise Attorneys

Unlike many franchise law firms, we take a balanced approach by representing both franchisees and franchisors (not of the same system of course). By knowing both sides, our franchise attorneys are better able to help our clients navigate difficult issues. We have a deep understanding of the relationship dynamics that underpin all franchise systems. Many of our partners have held senior leadership positions for national franchise brands and some were franchisees themselves.  That experience has proven invaluable in advocating on behalf of clients.  We know franchising and we can help. Learn more at www.spadealaw.com

Westvyne

Westvyne has been creatively bridging the gap between marketing & technology since 2010. We have been guiding our clients in what to say, how to say it, where to say it, and who to say it to in order to attract and retain customers. We truly enjoy getting to know about our customers and their products and services We offer a full complement of services including digital marketing, website design, marketing and brand strategy, graphic design, podcast consulting and franchise marketing. Reach out today at www.westvyne.com

Telephone Doctor

Years back, Nancy Friedman phoned her insurance agent and said, “Cancel all my policies!” She was upset after repeated episodes of poor customer service. So, the agent invited Nancy to teach his staff how to improve their telephone skills. Combining the service techniques pioneered at an earlier startup business with the presentation skills acquired from a background in professional theatre, Nancy’s customer service training program proved to be extremely popular. Word spread and after a series of Fortune 500 corporations hired her, a company was formed to market these skills and techniques. Nancy began delivering workshops to corporations and associations across North America. Today, ServiceSkills and Telephone Doctor® are both respected brands in the corporate learning space.  We’ve helped over 30,000 organizations improve the Customer Satisfaction Scores (CSat) of their Customer Service Reps, Help Desk Staff, Call Center Agents, Tech Support Staff and other team members. Learn more at www.telephonedoctor.com

The Power of a Virtual Community

in Both Celebration and Struggle

by Katie Bateman, FranchiseShow247

What role does social media play in our everyday life? How can we harness its potential to create positive change? And how can a virtual community impact our lives?

Social media has become a part of our daily lives. In fact, over half of us check Facebook every day and, according to the Pew Research Centre, nearly 90% of Americans now use at least one form of social media.

There are two sides to social media; one celebrates our individuality and creativity and the other brings out our worst qualities. Social media can also play a huge role in politics, for example, during the 2016 U.S. presidential election,

fake accounts on Twitter played a major role in influencing voters.

A community is defined as “a group of people who share a common interest, goal, purpose, or activity.” Communities provide a sense of belonging, identity, and connection for those involved. Communities also provide a place where members can learn about industry-related topics or culture, find others interested in the same things they are and build relationships. To be part of an engaging community provides us with a sense of belonging and being part of a community is without question central to human experience.

Communities can also come in the form of virtual communities enabling conversations among members from all over the world. Virtual community power is a growing movement - with communities across the country and around the world working together to improve places and services.

So, why are they important? A virtual community brings users together and provides them with a quick and easy method to resolve problems, explore products, services, businesses and opportunities, as well as connect with other members and share content.

Virtual communities have and have had an enormous impact on communication, individual identities and the very nature

of human interactions. Some virtual communities support open discussion forums where people can share ideas and opinions about topics ranging from politics to religion to sports to entertainment and more besides. Other virtual communities provide online games where users can interact with each other using avatars whilst others allow users to create personal profiles where they can store information such as contact details, interests, hobbies and so forth whether this is for a personal aspect or for a business element.

Have you thought about hosting your own virtual exhibition community platform in your chosen industry? If not, the possibilities are endless - in addition to offering a sense of community, communities also provide a space for people to share their struggles. People can find out about what others are doing, get advice from experts in the field and gain insight into how they can help themselves and their businesses. Communities offer a place where people can learn about problems and solutions and connect with each other.

So why do online communities succeed?

Some of the reasons communities succeed include strategic planning, updated content, inspiring discussions, high engagement, pathways to build relationships with others and social capital which helps to build

the personal and professional brand of members.

Finally, what value do virtual communities provide to businesses? They can help businesses improve customer service and develop new products and services, they can also provide information about how to best market those products and services by refining marketing and sales strategies. Making resources such as content, blogs, seminars and contacts accessible via a virtual platform as well as in a twenty-four-hour global manner creates an overall portal for companies to make exposure and brand awareness.

So, is it time to think about joining a virtual community or running your own virtual community in your chosen industry?

Head of Community Engagement FranchiseShow247

Katie.Bateman@franchiseshow247. com

Katie Bateman

Questions from the Audience

Questions from the Audience

The Pillars of Franchising show airs live every Thursday at 4:00 CT/5:00ET. Because we are a live show, we encourage viewers to call in and ask questions of our guests or our Million Dollar Mentors. Going forward, we will feature some of your questions in every issue of the magazine. If you have questions during one of our shows, we welcome you to call in during showtime at 323-580-5755 or email us ahead of time at yourdream@pillarsoffranchising.com

Kristin Selmeczy: An audience member has asked, “If you are a multi-unit franchisee, do you need different lawyers for each state that you’re in?

Jerry Akers: Well, maybe yes, maybe no. Because we deal with a fairly large law firm in our state

and in our city, and each of the attorneys has a different specialty – many of them are licensed in multiple states. So, for instance, if, if you want to do business in your state and an adjacent or neighboring state, it’s fairly likely your attorney or one of his associates will be licensed in that state and can take care of it for you. If you want to go three or four states over or in a different region, then it’s possible you will need a different attorney. But I would consult with my attorney first because he’s my trusted advisor. We talk about that all the time – utilizing your trusted advisors -- and tell him the situation. He or she will help you on that. I’m going through that right now because of the clinic I’m buying. The owner passed away, and we have a lot of attorneys involved in that because it involves the

widow, the corporate office and me. So, it’s complicated. My advice is to lean on your local attorney who you have a relationship with. Tell them the situation and they’ll help. I actually l had something in South Dakota, and I asked my attorney if he could find me an attorney in South Dakota. Coincidentally, he went to law school with somebody from South Dakota. There are resources out there, so don’t let it slow you down.

K.S. We have a question from Minnesota. This is a good one that an old cohost used to ask. What are the first three items in the FDD you should read? And what does Jerry recommend to read first?

J.A. Well, for me, first off, I hate F DDS because they’re like 400

pages long, fine print legalistic stuff. And I don’t know if I understand some of them. I’ll just be honest with everybody, but for me, there are two things that I look at first, and I base everything else because these items are not going to change. I look at schedule 19 because I want to see what the money looks like. Yes. I want to see the worst performing locations and the best performing ones on revenue, profit, expenses, etc. And I want to look and see if they’ve had any lawsuits against the corporation and what those lawsuits look like.

J.A. Because sometimes when a franchisor is starting up, there may be some discrepancies and there may be some lawsuits. And now it’s 20 years later. And although they’re still in the FDD by law, they really don’t mean anything at this point in time. But if there was one last year or in the last five years where a franchisee or a group of franchisees sued the franchisor, I’m going to want to know more about that. And that’s going lead to some very pointed questions when I do my discovery day or when I continue to work through the process of vetting the franchise system. So, for me, I look at those two sections. I look at the money section and I look at the

legal section and I read the rest of it or have my attorney do it, or both of us do it. I don’t really get into much more detail after that because frankly, the rest of it is just boilerplate stuff. And I know for a fact, the franchisor is not going to change that for me. Reading it so I know what’s in it is important. But reading it so that I can try and get something changed is not of interest to me.

K.S. Okay. There are a couple of items in the FDD that are of interest to me. When I looked at one franchise, there was something that caused me to opt out of that model. And that was Item eight, which told me where I had to buy my supplies. And in this particular franchise, the reason that popped out is that in, in that particular franchise, it was an incestuous relationship in which all of my marketing had to go to one company who happened to be the brother of the founder and the CEO of the brand I was looking to buy. And so, my FDD and my franchise agreement said, ‘Hey, you have to do direct mail. And it has to be through this company. And oh, by the way, guess what! This company owner happens to be the brother of the CEO of the franchise brand.’ And I was like, “no, no, no!” That situation has really prompted me to look through

that section. And then I tend to spend some time with my clients who are looking to buy franchises on Items 5 and 6 as well.

QUES

J.A. So, to your point about the incestuous relationship, I’ve looked at a lot of FDD’s and very few, franchisors do that. That’s a red flag and I’m surprised you found one that did it because anybody that pays any attention would catch that. And more importantly, if that came up later after you bought the franchise, that’s grounds for you to sue them, and none of those franchisors want that on their FDD. Some franchise systems may give suggested vendors like, say, for office supplies. But they don’t really require specific vendors. And so, you have the opportunity to go somewhere else. There may be some things that are mandated. Things related to the brand would come to mind. For example, the golden arches for McDonald’s perhaps might be something they get from one vendor because they want them all to look exactly the same. There are times when there is some logic behind having the same vendor. But we like competition in franchising. So typically, you’re going to have options and you can probably go out and find your own options if you want to.

K.S. From San Francisco. Do I need to use a broker to buy a new franchise, or do you use one only for an existing franchise location?

K.S. No, you don’t need a broker at all. However, I can tell you that using a broker makes all of the work that Jerry did in his book a lot quicker and a lot easier. It provides opportunities that maybe you won’t find on your own. You can use a broker or not in both situations. I used a broker, and it was one of the best decisions that I could have made because I would never have thought to buy a franchise. It was not necessarily what I was looking for, but I couldn’t be happier that I did. It worked for exactly what my family needed at the

time. And it’s turned out to be a great business model. Do you have any thoughts?

J.A. I’ll reinforce that. I think that 90% of the time you should use a broker, no matter what kind of business you’re looking at. To Kristen’s point, they take a lot of the work out of it. They vet the other side. So, you have less to worry about and you know what you are getting or not getting. They’ll actually catch problems in the offering in the real estate and in other areas when you buy a franchise. So, I think it’s a good idea. The only time I don’t necessarily think it’s necessary is for instance is if you know somebody that’s already in that franchise group yes. And you’ve been tracking their success for a while

and they know you, and they’ve said, “Hey, if you’re thinking of a franchise, this is the one to be in because it fits for you.”

J.A. Then you can probably go directly to that corporate group and work with their franchise rep. And they can help you with that. The franchise rep is really a broker that doesn’t make money off of it because they’re paid a salary to help bring people in. You’re still getting a lot of the same resources when you go that route, but you don’t have an unbiased third party. If you have any concerns, get a broker involved. They will give you some good guidance.

Million Dollar Minute with Kristin Selmeczy

Million Dollar Minute With Kristin Selmeczy

by Elizabeth Denham

This month in our Million Dollar Minute, Elizabeth Denham decided to ask Kristin Selmeczy about achieving “million dollar” status. Is it attainable and how do you do it? Here’s the scoop!

Elizabeth Denham: I thought it would be interesting to discuss how you get to be a million-dollar business owner in franchising. You know, we talk about all of our million-dollar mentors - We’ve got Jerry Akers, we’ve

got you, we’ve got Ray Pillar. And we define that by those franchisees who have reached the million-dollar dollar mark in revenue. So, for those of us who are interested in becoming a franchisee, how attainable is that, really?

Kristin Selmeczy: I mean, we talk about this clearly. All of our million-dollar mentors have had successful businesses. We have learned tons along the way,

made tons of mistakes.

E.D. So, how hard is it to achieve that level and what does it take?

K.S. Well, you know, it’s interesting because I think, first of all, it’s all about finding the right fit. Because if you don’t find a brand or a category that you can be passionate about and have fun with and really fall in love with, it’s not going to work. Now, I don’t fall in love with cleaning

This month in our Million Dollar Minute, Elizabeth Denham decided to ask Kristin Selmeczy about achieving “million dollar” status. Is it attainable and how do you do it. Here’s the scoop!

Elizabeth Denham: I thought it would be interesting to discuss how you get to be a million-dollar business owner in franchising. You know, we talk about all of our million-dollar mentors - We’ve got Jerry Akers, we’ve got you, we’ve got Ray Pillar. And we define that by those franchisees who have reached the million-dollar dollar mark in revenue. So, for those of us who are interested in becoming a franchisee, how attainable is that, really?

Kristin Selmeczy: I mean, we talk about this clearly. All of our

million-dollar mentors have had successful businesses. We have learned tons along the way, made tons of mistakes.

E.D. So, how hard is it to achieve that level and what does it take?

K.S. Well, you know, it’s interesting because I think, first of all, it’s all about finding the right fit. Because if you don’t find a brand or a category that you can be passionate about and have fun with and really fall in love with, it’s not going to work. Now, I don’t fall in love with cleaning toilets. That’s not what I do. But what I do is I fall in love with having such great people and fostering an environment in which they enjoy going in and seeing, you know, a completely filthy, upside down house and walking out with it looking like a model

home. So, for me, that’s what drives me — not clean toilets.

K.S. First and foremost is finding the right fit for you. Absolutely critical. Second of all, it’s making sure that you truly understand what the business model is and understanding what your KPIs are. So, there are key performance indicators put in place for a reason. And is it always easy to get to all of those at the same time?

No, it’s not. I’ve said before on the show, I started the business and surprise! I’m having another baby. Oh, great. I just quit my job and started this business. We’re in the hole right? The interesting thing, especially when you have a franchise, is that often you can kind of ebb and flow with the business.

K.S. So, I take my foot off the gas a little bit. But now that I have gronw the business, I know that by September, I’m gearing up for the holidays And so you have to understand the seasonality of your business. You’re not going to get in immediately and make $1,000,000. Let’s put this in perspective, right? Some brands, you do $1,000,000 right off the get-go because your a restoration company and the jobs that you’re doing are high-dollar jobs.

K.S. My average job’s like 178 bucks or something, right? So,

it takes me a lot longer to get to $1,000,000 mark than it would if somebody has a $25,000 average ticket. You have to put that in perspective.

E.D. So you have to know if you’re a volume business or if you’re going to get to do several projects a year, they’re going to add up. But the interesting thing to me about your story is you mentioned having a baby, right, when you opened your business. And so, part of the history of your story and your business is that you did not put your foot on the gas immediately.

You grew your business, your children got more independent. Then you were able to really focus in. So, a lot of it is franchisee driven, right? You can decide how many territories you want. Do you want a small one? Do you want to grow and multiply? Do you want high-ticket items that get you quick returns? Or do you want something that’s more of a volume sustained business? Right.

K.S. Right. And, you know, Ray and I talk about this often too. When we started, I opened my business in 2007. And if everybody remembers what happened in 2008 2009. Yeah. Hello! People are worried about how they’re going to keep their house. The last thing they care about is whether or not it’s clean. So, I did follow the model. I

continue to dump good money after bad because you’re marketing to people who have not the slightest interest in cleaning. They just want to keep a roof over their heads. But you’re keeping the brand out there and the perseverance that it takes and the preparation that you need to have when things improve, As Ray and I talk about, you begin with the end in mind and make sure that whatever they tell you, you need to have in terms of liquid capital for that first year, double it because you don’t know what will happen. .

E.D. Right. Who would have thought we woud have gone through COVID ad now we have a recession on the horizon.

K.S. So, do I think that everyone has the opportunity to be a $1,000,000 owner? Absolutely. There are weeks that I work 60, 70 hours a week. Just like I did when I worked for corporate America. And now there are weeks that maybe I work 15 to 20 hours a week. I have a great office manager and if I were in every day, I would drive her crazy.

Now, I could really invest a lot more and, in relatively short fashion, make an impact to hit the $2 million mark. But I’ve got teenagers. I’ve got a girl who’s going off to college next week. I have a high school freshman who’s got some situational

things that I need to be in touch with. And so, there are a lot of different things that, as an owner, you can just say, you know, how important is $1,000,000?

E.D. And what does that number really mean to you and what’s the cost to youwork-lifefe balance? We talk to Jerry Akers because his kids are older and they’ve now stepped in to help him run the business.. So, for Jerry to help him hit $1,000,000 is a piece of cake, right?

K.S. Right. I’ve got four territories where he’s got a giant territory. You really must consider where you are in life to determine how important that million-dollar mark is and what you’re willing to give up. But without hard work and perseverance, if you don’t have those, forget it. It’s not going to happen.

If you have an interest and becoming a franchisee, we can both help you find the franchise that’s right for you, or we can mentor you through those first few years and help you really avoid some of the same mistakes that some of our mentors made. Please reach out to yourdream@pillarsoffranchising. com for more information.

PILLARS FRANCHISING OF