The Most Hidden Path to Financial Freedom in America

Get 200 business ideas here: https://clickhubspot.com/fda Episode 779: Sam Parr ( ⁠https://x.com/theSamParr⁠ ) and Shaan Puri ( ⁠https://x.com/ShaanVP⁠ ) talk to Alex Smereczniak( https://x.com/AlexfromFranzy ) about one of the most overlooked paths to wealth creation. Show Notes: (0:00) Intro (2:21) Turning $2K into $400K revenue (8:48) A case for franchising (10:56) The blueprint (16:02) How one operator opened 100 franchises (23:43) Another Nine (30:19) Waterloo Turf (33:47) PopUp Bagels (36:36) Red Flags (41:10) Nothing Bundt Cakes, Crumbl Cookie, home services (46:06) Garage Kings (50:15) Senior care (51:52) Funeral homes, crime scene clean up, pet cremation (55:24) Red flags (1:02:21) The Flynn Group — Links: • Franzy - https://franzy.com/ • List of Top Franchise Brands - https://go.franzy.com/download-franzys-top-ten-franchises-of-2026 • WakeWash - https://wakewashwfu.com/ • Dave’s Hot Chicken - https://daveshotchicken.com/ • Another Nine - https://anothernine.com/ • Waterloo Turf - https://waterlooturf.com/ • PopUp Bagels - https://www.popupbagels.com/ • Roark Capital - https://www.roarkcapital.com/ • Nothing Bundt Cakes - https://www.nothingbundtcakes.com/ • Benjamin Franklin Plumbing - https://www.benjaminfranklinplumbing.com/ • Garage Kings - https://garagekings.com/ • Bio 1 - https://bio1sd.com/ • Aftermath - https://aftermath.com/ • Flynn Group - https://flynn.com/ — Check Out Shaan's Stuff: • Shaan's weekly email - https://www.shaanpuri.com • Visit https://www.somewhere.com/mfm to hire worldwide talent like Shaan and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than US equivalents. • Mercury - Need a bank for your company? Go check out Mercury (mercury.com). Shaan uses it for all of his companies! Mercury is a financial technology company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N. A., and Evolve Bank & Trust, Members FDIC — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth • Sam’s List - http://samslist.co/ My First Million is a HubSpot Original Podcast // Brought to you by HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano //

Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.

• 0:00Speaker 00

  Franchising is one of the most overlooked paths to wealth in America.

• 0:04Sam Parr?

  That's a very bold statement.

• 0:06Shaan Puri?

  He said the most overlooked.

• 0:09Speaker 00

  There are more millionaires generated from franchising than all combined players ever in the NFL. And there's a number of private equity family offices starting to get further and further into franchising. And they're buying both large franchisees or they're doing rollups.

• 0:23Sam Parr?

  You made this bold claim and I wanted to fight you about it now. I'm totally on your team.

• 0:26Speaker 00

  Traditionally franchising gets looked at as like, all right, it's either McDonald's and Subway and you gotta have $3 million to do it. So only the wealthy can actually do it. But there's 4,000 franchise brands. And if you're willing to do the research, willing to do the work, there are a lot of hidden gems of brands and industries that are really taking off.

• 0:43Shaan Puri?

  So explain the path. What's the game plan?

• 0:45Speaker 00

  This is such a good hidden gem. I don't want to talk about how I did this.

• 0:56Shaan Puri?

  All right. What's up? Welcome Alex. Alex is the franchise guy that we have invited on the pod. So I don't know if that's what you normally get called, but that's what we're calling you. So this podcast called My First Million, one of the reasons we originally called it that was because there was all these different ways people made a million dollars. And in my first 10 episodes, I think I had a guy who did it in real estate, a guy who did it with Amazon FBA, a guy who did it playing poker. And I was very fascinated just to hear all the different ways you can win in business for two reasons. One, I wanted a menu of options I could go choose from. How can, you know, which one sounds most appealing to me? Which one sounds like it fits me? And the second is I like just hearing that you could be doing it in all these different ways because it makes the impossible feel extremely possible.

• 1:36Shaan Puri?

  I remember when I was sort of pre-success, it felt like winning was like just this needle in a haystack. I couldn't find it. And then as I've been doing this podcast, I realized it's a haystack full of needles. You, there's so many to choose from. There's so many different ways to win. You're going to talk about kind of retail and franchising. Did I do, did I do you justice there setting that up?

• 1:54Speaker 00

  Yeah, absolutely. I honestly, up until four or five years ago was a bit of a, I think franchise hater and thought, oh, you know, that's, is that really entrepreneurship or is that, you know, are there viable paths there? And the more I've gotten into it, the more I've realized it's probably the most overlooked path to wealth creation in, in America. And I've become a big, big fan of it.

• 2:14Sam Parr?

  That's a very bold statement. That's a very bold statement.

• 2:16Shaan Puri?

  He said the most overlooked. All right. Yes. Well, let's, let's start with who, who you are. So you're, you're a guy who made your initial wealth in laundry, in the laundry business. So can you give us the fast forwarded, quick version of your story?

• 2:32Speaker 00

  Yeah, I'll try to be, try to be short. So I'm originally from small town, Minnesota, town of 15,000 people. Ended up in North Carolina for college, went to, to Wake Forest, studied finance, was about to have a pretty kind of boring, plain life. And then bought a laundry business my freshman year of college. Did seller financing, had to learn what that was at, at 18. Learned what a discounted cash flow analysis was at 18, just talking to business school professors before I got into the biz school. And ended up buying that business and learned more doing that than any class I took at Wake. You know, we ran it, we grew it, we sold it for a little over 10 times what we bought it for. And had an exit, uh, our senior year for about 10 times what we bought it for.

• 3:14Speaker 00

  And that set the path to complete addiction.

• 3:18Shaan Puri?

  Why did you buy a laundry business as a college freshman? Who does that?

• 3:22Speaker 00

  So I was, I was working for them. I was working for them as a way to make a little extra beer money and, and was hooked. I was like, this could work at Duke and Chapel Hill and Vanderbilt. And you guys are graduating, I want to buy it. And they asked for 30 grand and my jaw hit the floor. I was like, that's the most money I've ever heard of. And I had maybe two grand saved up, so had to get creative and figure out how are we going to buy this and structure it? And.

• 3:45Sam Parr?

  Well, that's sort of like one of the, one of the three businesses college could start. It's usually like some type of like app or something where like college kids could sell stuff to other kids. Or a roommate matching app, which I did, or like a, like a laundry map, a laundry business. I know Blake Mioski, I think that's his name, the guy who started Tom's Shoes. That was his first business was laundry business.

• 4:04Shaan Puri?

  What were you doing? You just go pick up the laundry from students dorm rooms. You said like, hey, you, you know, I remember when I went to college, I didn't know how to do laundry. I had like, you know, grown up and my parents did my laundry. And so by the time I got to school, I was a little confused. My roommate had to teach me like, what is a dryer sheet? And like, why do you use this? What are all these different components? How long do you leave this in?

• 4:25Speaker 00

  Yeah, so Tuesday was pickup day. You'd leave your stuff outside your dorm room door. We'd have runners, you know, mostly football players that could hold like 200 pounds of laundry at a time. They'd just, you know, run up and down the hallways, grab your bag. We'd partner with vendors off campus. They would clean it. We'd return it Thursday. But the big unlock for us was kids aren't paying for this. You know, it's a bunch of broke college kids. It's their, you know, affluent parents or your parents that are worried about them, you know, being at college, not knowing how to do laundry. And so the big thing that changed it for us that allowed us to go from, you know, call it 30ish thousand in revenue when we first bought it to just under 300 grand a school year in revenue, was get a booth at Orientation Week. And for whatever reason, Wake gave us a booth next to where you got your meal plan,

• 5:08Speaker 00

  where you got your parking pass, where you got your keys to your dorm, like all the like marquee things you need to do. And we went full ShamWow guy. Like, I was like, "Step right up. We're the premier laundry service at Wake. You got, your kids gotta have it. You don't want them to go, you know, clothless." You gotta sign up for this. Yeah, and they loved it. They thought it was like the cutest thing. And they're like, "Yeah, that's true. My kids, you know, screwed going here and not knowing how to do laundry, and I want them studying or having fun," or whatever it was. And so we went from, yeah, 30K a year in, you know, school year to like 280,000 our first year.

• 5:43Shaan Puri?

  Is this still a business that any college kid could do today? Like, has this been a solved problem? Or does every campus just have kind of like a version of you who hustles and makes the campus the freshman laundry service?

• 5:55Speaker 00

  Yeah, I think Sam's right. Like, the number of people I've met that have gone on to be serial entrepreneurs that were like, "Oh, I did that in college too." Like, I thought I was so cool and special and unique. Then I meet like 30 other college kids that had a laundry business at their school. So I don't think it's been like systemically or like at a scale, you know, solved. It's just, you know, the business that we had was called Wake Wash, and it's been owned by nine other groups of college kids. It's changed hands that many times, and it's been such a cool launchpad for all these other entrepreneurs, because it's this like safe, fairly simple business model, but you do learn so much. How to hire people, manage them, fire people, work with universities on your contracts and agreements, market to customers, sell to people. Again, it changed my life entirely.

• 6:40Speaker 00

  I wouldn't, I don't think, be an entrepreneur at the level that I am and have the level of obsession I have over it if it wasn't for that college laundry experience that I had.

• 6:50Sam Parr?

  How old are you now?

• 6:51Speaker 00

  Uh, just turned 34.

• 6:53Sam Parr?

  And so you sold that for what? Uh, six or $700,000? You said mid-six figures?

• 6:59Speaker 00

  It was, yeah, it was like four, a little over $400,000.

• 7:02Sam Parr?

  Oh, that's badass. So in college, you sold a business for $400,000?

• 7:06Speaker 00

  I thought I could retire.

• 7:08Sam Parr?

  Well, you know.

• 7:09Speaker 00

  No, as a 21-year-old, you're like, oh, my God, I don't have any college debt and I...

• 7:14Sam Parr?

  You didn't pay attention in finance class. So good thing you didn't go down the finance career path.

• 7:18Shaan Puri?

  Well, the funniest thing is, I can't be good laundry man. He ran another cycle. He goes and he starts another laundry business right afterwards, right?

• 7:26Speaker 00

  Well, I sold, I sold out for a little bit. I went and worked for Ernst & Young. I thought, as far as corporate jobs go, consulting's gotta be entrepreneurial. You're jumping from project to project. You're working with different teams. And again, loved the people I worked with, did learn a lot, but I, it was like soul-crushing work. I hated the type of work I was doing. And in 2014, 2015 is when all the Uber, Flex businesses were taking off. So Instacart and Shipt and Wag and Rover and Drizly and DoorDash and, you know, all of these. And I thought, someone's gonna do this for laundry and dry cleaning. And if it's not me, I'm gonna hate myself and I need to go at least throw my hat in the ring. So quit my job at EY, started a company called 2U Laundry in January of 2016.

• 8:11Speaker 00

  Um, and we had a, you know, a pretty wild roller coaster of a ride from there. And the story is still being written to a degree there.

• 8:20Sam Parr?

  Hey, real quick. If you like this episode and you want more ideas on overlooked businesses, I have something you might like. A while back, Chris Corner came on MFM and we called him the Side Hustle King because he built so many businesses. Well, he ended up giving us a list of 200 ideas and the blueprints to build them. It's a great resource and totally free. If you want it, just click the link in the description to get it now. All right, now let's get back to the episode. You made this bold claim. You said that franchises are... What did you... Can you phrase it exactly? Because I'm gonna, I'm gonna try and prove you wrong, but I want, we're gonna have a, we're gonna have a fun debate. What was, tell me the exact phrase.

• 9:00Speaker 00

  Yeah, so I think franchising is one of the most overlooked paths to wealth in America. And I think it deserves more attention and people giving it a shot.

• 9:10Sam Parr?

  Great. I want you to be right, but we're gonna, we're gonna like have a cool conversation about that. And the reason you know this is you have a software company where you, it's like a marketplace for franchises. So you have perhaps one of the best like bird eyes view of like the industry. Where are the numbers that would make you make that claim?

• 9:27Speaker 00

  Yeah, so franchising as it's, it's a business model first of all. I think a lot of people think franchising is an industry. It's a business model that spans food to hospitality, health and wellness, early childhood development. Most of us probably don't even realize we're using franchises on a daily, you know, for sure, a weekly basis. Hotels, Marriott, Hilton, franchise businesses. You know, there's all the food that we all know, McDonald's, Subway, you know, Chick-fil-A, et cetera. But then gyms that we all go to, Orange Theory, F45, Berry's, they're some form or fashion of a franchise. And then you talk about your home, gutter cleaning, painting, you know, pest control, et cetera, all franchise. It is 8% of our country's GDP is produced from franchise business models.

• 10:11Speaker 00

  And I think traditionally franchising gets looked at as like, alright, it's either McDonald's and Subway and you gotta have $3 million to do it. So only the wealthy can actually do it well. Or it's these like kind of slimy ones that are just popping up and they don't have systems and they're telling you, they're gonna sell you a dream. But there's 4,000 franchise brands. And if you're willing to do the research, willing to do the work and willing to look, there are a lot of hidden gems of brands and industries that are really taking off and have valuable systems and a valuable peer group that the everyday average...

• 10:43Speaker 00

  You know, entrepreneur could benefit from if it's the person that doesn't have the original tech idea or wants to go raise venture capital, but wants to build a business and build wealth. Franchising, I think, again, is one of the most underrated overlooked paths to doing that.

• 10:58Shaan Puri?

  So, explain the path. Alright, so I'm a person and, you know, explain a blueprint or a model that you could see. So, you know, you take X dollars that you have saved up or you raised from somebody. You buy what type of franchise and then what type of returns do you get? What's the game plan?

• 11:14Speaker 00

  So, I always use analogies and I think a good one for franchising is akin to real estate. You could buy a trailer, you know, one lot trailer and rent that out, or you could buy a hundred door multi-unit deal and there's everything in between and franchising's no different. Of those 4,000 brands, there's some as affordable as $10,000 to get into. Chick-fil-A actually is only a $15,000 franchise fee because they want to pick from the best crop of operators, but they're a lot more restrictive on how many units you can actually open, how you operate, how involved you need to be in the business, etc.

• 11:46Shaan Puri?

  Isn't Chick-fil-A, you can only have one, right?

• 11:48Speaker 00

  Yeah, you can only have one. There's unicorns, they allow to do two, three more and then brands like R Mark or these, you know, food service providers that do stadiums and campuses, they've got dozens, if not hundreds, because they have those agreements on those venues. But some of these franchises will be 10K all the way up to, there's four million plus dollar swim schools where you've got six pools you're building and it's a much higher stakes, but higher reward.

• 12:11Shaan Puri?

  Is the franchise fee the same thing as what the build-out is? So, let's say you said Chick-fil-A 15K, but then you have to build the restaurant, right?

• 12:18Speaker 00

  So, the franchise fee every brand will have and that can range from 10K to 70K in some instances and that's basically your ticket in line. It's your, I now own the rights to this territory or this 10-mile drive radius, etc. And then there's the build-out cost, just like if you were to do it on your own, how much is this going to cost to upfit the location, buy equipment, you know?

• 12:39Speaker 00

  Boilers or stoves and all the stuff that you need for a restaurant. There's that investment cost as well. Chick-fil-A is a little bit of a pseudo franchise. It's 15K for the franchise fee, but then Chick-fil-A actually buys the site. They pay for all the build out, but they're taking a 15% royalty instead of 6%, which is standard. So 6% on your revenue is standard. Chick-fil-A is taking 15, but then they take 50% of your profits as well, which no other franchisor does. They take 0% of your profits. So you're effectively with Chick-fil-A buying yourself a high paying job.

• 13:14Sam Parr?

  Did you guys read about this? This article went viral, or not viral, but maybe in the business world it was popular. I think it was in the Wall Street Journal. It was March 1st, 2025. It was about the friends, these two buddies. I think they're only 35 to be honest, and they had started a business called Garnet Station Partners. Did you read about this? No.

• 13:30Speaker 00

  Yes.

• 13:31Sam Parr?

  Okay, so correct me in the story, but two guys, I think they looked like 35, 37, two buddies who raised a fund and bought a bunch of franchises and now have a multi-billion dollar fund. And I think they've taken out hundreds of millions of dollars out of the business.

• 13:47Speaker 00

  Yeah, so they, and there's a number of private equity family offices starting to get further and further into franchising and they're one good example of it. And they're buying both large franchisees or they're doing rollups essentially of, all right, Sam, Sean and Alex own five Jersey Mikes and they find six of us and they go buy all 30 of them. And they're doing these kind of one-off deals, but now they own a 30-unit portfolio that's doing an average of two and a half million per location. And now have close to $100 million a year revenue business via acquisition. And it was five acquisitions or six acquisitions. So there's a lot of that happening.

• 14:20Sam Parr?

  And so they, the Wall Street Journal phrased it so differently because when I think of franchise, I think of a little bit blue collar-y or an ex-NBA basketball player. That's who I think about. Their title, the headline was, "Meet the Best Friends Who Are Private Equity's Newest Young Stars." And it said that they bought, they so far have raised $3.5 billion. They're only 38 years old and they bought everything from gyms, funeral homes, car washes. And they bought hundreds of these and they've just operated it really well. And I think their big win was betting on Little Caesars. I think they bought a bunch of Little Caesars if I, like maybe eight years ago. Now it's been really popular, but the way that they've rebranded this was actually amazing. What do you mean rebranded it? What's the rebrand?

• 15:03Sam Parr?

  The rebrand is like, it's just like, they made it a lot more white collar. So when I think of franchise, I think like a mom and pop business who just wants to get into it. And they got, they put $40,000 together and they worked for 15 years and slowly acquired one or two at a time. And hopefully they have their, it's almost in the same category as like a dentist.

• 15:20Speaker 00

  Right.

• 15:20Sam Parr?

  You know, like the middle America wealthy people who have done it, you know, year after year and been very consistent. These guys were 38 year old Manhattanites who raised a billion dollars and they've just crushed it. And it kind of reminded me, I think there's been a handful of things like this, Sean, where it's like, things that serious operators don't take serious. And that is how I kind of read it about these franchises where it was like, yeah, mom and pops have done well, owning three or four of them. What would happen if you owned 3,000 of them?

• 15:45Speaker 00

  And that's what, there's, there's a lot more smart money coming in. And using that real estate example, again, it's, there's all these folks that might own five doors or duplex or quadplex. And private equity and family offices or ex-investment bankers are saying, what if I go roll up 100 of these, 200 of these? And that's, that's exactly what Cal did, the story that I, you know, shared with you guys.

• 16:04Sam Parr?

  Tell that story. Who's Cal?

• 16:06Speaker 00

  Yeah. So Cal Ghulapali, he's a franchisee based in Florida. Former investment banker, I think he worked up in New York or in the Northeast. And, you know, decided he wanted to do something for himself. He's like, I know how to put deals together, I know how to structure and, you know, analyze a business. And so he bought a few butcher shops at first, so independent businesses, more like ETA or a search fund of seven years ago, eight years ago. And that went okay. Like he learned a lot how to be an operator and, you know, learned some retail. But then he was at his Orange Theory, his gym that he goes to, and he's a curious guy. He asked, you know, the manager, you know, is the owner around or can I get in touch with him? Gets in touch with the owner, asks the owner, how much money are you making?

• 16:44Speaker 00

  The owner was forthright, shared his financials, and I think he was making four or 500 grand for that, you know, profit from that one location. Cal's like, you make that from one gym? And he's like, yeah, I own three of them. He's like, so you're making over a million dollars a year off of three locations? And so he goes and buys two Orange Theory, he's like, immediately. That was in 2018.

• 17:04Sam Parr?

  Dude, an ex-banker doing this is sort of like a young gay couple gentrifying a neighborhood. You're like, you're like, like an outsiders are like, something's up, like it's starting.

• 17:17Speaker 00

  It's happening.

• 17:18Sam Parr?

  Yeah, this is like that story, a retired New York banker in Florida who's on his second, uh, his second thing.

• 17:25Speaker 00

  Well, so he starts doing this in 2018. Seven years later, at the peak, he's had 120 locations open in seven years.

• 17:33Shaan Puri?

  Of orange theory or of other things?

• 17:35Speaker 00

  Eight different brands. Marco's Pizza, Restore Hyper Wellness, European Wax Center, Papa Bagels.

• 17:43Shaan Puri?

  Did he raise money?

• 17:45Speaker 00

  So what he's done, and so I have a podcast as well called How I Franchise This, and he talks through exactly how he finances it, how he structures the deals. And a lot of the times, he owns 30 to 60% of the equity in these kind of like sub deals that he's doing. So he's using private equity, family office, independent investors. But he's the operator and owning 30 to 60% of a system that likely does over half a billion a year in revenue across all of his units in seven years.

• 18:14Shaan Puri?

  Who the hell can operate 100 different franchises? That's so difficult. How is he doing this? What is the model that lets this happen?

• 18:26Speaker 00

  So he, as he was scaling, and usually it's going from six to 10 is the really challenging part because you start having district managers managing a unit. But he's so far removed from the day to day now that he's got this, you know, the system in line of defense where each brand has a basically a COO over it. Within that organization, there's multiple district managers and then underneath them, they manage four to five stores each and GMs and assistant GMs. Once that system is in place, there's so much redundancy that, you know, you've got people calling out and all the headaches you'd worry about with a business like this. He's got a couple thousand hourly employees across the system. And that sounds like a massive headache, but because of the system and, you know, the things that come with franchising, it is much easier for him to have these playbooks

• 19:09Speaker 00

  for training and how do you handle employee turnover and?

• 19:13Sam Parr?

  How much profit would it make a year or cash flow? And how would it be? Do you value it? Is the value in the equity value that you build up or is it just the profitability?

• 19:22Speaker 00

  So both. Franchising, and this is something that opened my eyes a bit is a real estate investor would be jumping up and down about 12 to 16% IRR. A franchisee is upset if they're not north of 25% IRR. So the cash on cash return is double in many cases or the expectation, the floor. Yes, there's more risk. Yes, there's more, or in some cases there's more risk and there's more.

• 19:45Shaan Puri?

  Well, you're running the business.

• 19:46Speaker 00

  Right.

• 19:47Shaan Puri?

  Yeah.

• 19:47Speaker 00

  But as you get these systems in place, it becomes similar to owning a portfolio of 100 doors in a commercial real estate.

• 19:55Speaker 00

  And so the cash on cash return from the cash flow of the business is north of 25%. That's not factoring in the enterprise value when you go to sell. And franchises trade at 1 to 2X more of EBITDA than an independent business because it's de-risked across the thousands of units or hundreds of units in the brand. Banks de-risk it that way, investors de-risk it that way. And you have this peer group again, and this franchisor to rely on.

• 20:22Sam Parr?

  25% cash on cash, what was the cash? I don't even know what it would cost to have 120.

• 20:27Shaan Puri?

  Well, just do it in a simple, do one, right? So one location. Let's walk through the economics of a single location of, pick your favorite franchise. If you were advising your little brother, your cousin to go do one of these, where would you guide them? And then let's walk through a one-location economics.

• 20:44Speaker 00

  Yeah, so it, and I know people hate the answer, it depends, but there really is a franchise for everyone. So I'll pick, you know, let's just pick Dave's Hot Chicken, a brand that a lot of people know has had this kind of viral growth the last few years. The average Dave's Hot Chicken, you know, is anywhere from 650K to 1.8 million to build. And that depends on size, the market you're in. I know it's a big range, but the average revenue of a Dave's Hot Chicken is over 3 million with, you know, 20-ish percent, you know, cash flow margins. So we're talking about 600K in profit.

• 21:18Shaan Puri?

  Okay, but we gotta slow down. So you tell them, hey, Dave's Hot Chicken, great, great brand.

• 21:23Speaker 00

  Yep.

• 21:24Shaan Puri?

  Your little brother says, okay, what am I going to need to go build this to start a Dave's Hot Chicken? So I gotta apply, and then I have to pay a fee, and then I have to come up with a million or 1.5 million dollars to build this thing? How am I going to do that?

• 21:37Speaker 00

  Yep, yeah, so in Dave's Hot Chicken case, they now require you to do at least five. And so in this case, this is one of those examples where you do need 2.5 million liquid, $5 million net worth, or to raise that money from investors. So if those little brother, and he didn't have that cash, I'd say, hey, we gotta go find some investors, you're going to be the operating partner, just like what Cal does, you know, today across his system. So little brother, can we prove that you're a good operator, that you have experience in managing a Chipotle, or whatever it may be to go raise this capital if he wasn't capitalized?

• 22:07Shaan Puri?

  So he's got to go raise five million bucks?

• 22:10Speaker 00

  Yes, yeah. So to get started, he would need two and a half million liquid in this case to build the first, you know, one or two. SBA is a great option as well. So Cal, even someone at his scale, is still using SBA because it's designed and meant for buying small business like this.

• 22:24Sam Parr?

  For getting us all to eat hot or chicken. That's what the SBA.

• 22:29Sam Parr?

  Do you also have to be good at spotting a trend? Because for example, if Dave's Hot Chicken, you know, was a thing 20 years ago, I lived in Nashville when Hot Chicken got started and it was like, not that popular. And then something happened on TikTok where Hot Chicken got cool. But then, I don't know, is it a phase? Like, do you have to be, do you have to get good at picking what a winner is?

• 22:50Speaker 00

  Yeah, absolutely. So one of the things that I think about a lot is what makes some of these wildly successful franchisees versus the ones that aren't. And I think like picking an independent business, whether it's trash or, you know, these other unsexy businesses, you need to find something that, you know, I think carries long-term value unless you know it's a trend and you're like, as long as I get in early, I can build a substantial business and ride the wave and ride the trend. I think it's very similar to buying an independent business as well. But Cal is an example, spotted Dave's early, he spotted pop-up, you know, Bagels early and they're taking off right now.

• 23:22Shaan Puri?

  Okay, so let's redo this. So because you gave us Dave's Hot Chicken and now your little brother needs five million dollars and I think we've hit a wall. So let's do something that's not going to require that. Let's take it more realistic. I don't have friends and family that will give me, you know, two to two and a half to five million dollars liquid and I don't have the operating experience of running a Chipotle for three years yet. So what else would I do? European Wax Center, what are we thinking?

• 23:45Speaker 00

  So let's do, let's do another nine. That's one that I'm, in full disclosure, I'm developing five another nines in Minnesota right now. It is indoor.

• 23:52Sam Parr?

  What's an other nine?

• 23:53Speaker 00

  Another nine, another nine.

• 23:55Shaan Puri?

  Is that the name of a franchise?

• 23:56Speaker 00

  It is a fully unattended, so no employees, no food and bev, indoor golf simulator franchise. Golf is very trendy and popular right now. It's making a comeback. You got the Netflix effect with Full Swing. This past year, actually, more Americans played off-course golf, so like Topgolf simulators, etc., than actual green grass golf for the first time.

• 24:19Shaan Puri?

  That sounds substantial. Okay, so you basically say, hey, there's this trend and this movement, indoor golf simulators. You said yourself, you're building five of these out. Okay, so let's walk through, again, the one-unit example. Does little brother need some special sauce to do this? Or what does he need? What's the steps?

• 24:36Speaker 00

  Yep. So this case, you are gonna need an SBA loan. That's what we're using to finance some of these. The build-out's substantially lower than a Dave's, and they don't require you to build five of them. So you can get into one or two of these.

• 24:48Shaan Puri?

  When you go to get that SBA loan, do they need you to have proven anything yourself? Or can you just say, look, this is a franchise. I'm gonna operate it. I've had this corporate job, and I'm ready to go do this. Do you need something to qualify for that SBA loan?

• 25:03Speaker 00

  Yeah, so typically, depending on the brand you're getting into, you need 50K, I'd say, liquid and over 150K net worth. So again, I think attainable for a lot of people wanting to go escape corporate or add on to their real estate portfolio, etc. SBA will borrow you up to $5 million across multiple loans over time, and they will make you sign personal guarantees. So you are, if you own a house, that's collateral. They're looking for, does the individual have enough collateral? And does the brand have enough data and proof points that this is a concept we want to back and be involved in? And most banks, like I think a lot of opportunities, some love food, and that's what they do. They're the food lenders. There's others that love fitness, and they're the fitness lenders.

• 25:45Speaker 00

  And so you gotta find the right lender that is comfortable with the concept you're looking at.

• 25:49Shaan Puri?

  So how much does it cost to build one of these?

• 25:51Speaker 00

  Yeah, so one of these is anywhere from 320-ish K to 800,000, depending on the number of private bays you want. So another nine is different than these social experiences you see where it's food and bev and staff. This is like anytime fitness. You fob in with your phone. You can go at 3:00 in the morning if you want. They're 24/7. And you go play sim golf on some of the nicest equipment out there. The guys that started this out of Cincinnati, they said they got surgeons that go three times a week at 3:00 in the morning when they're off shift, and they go play Pebble Beach for an hour before they go home and call it a day, because that's... Their routine and that's when they can get away and do it. But they don't have five hours to go play an actual round.

• 26:31Sam Parr?

  So I'm on another nine.com. It looks really fun. I don't even golf, but this looks like it would be really fun, but it looks very new. Like I think their headline says, just, just two dads are gonna play more golf. That's who founded it. And then it's a, it's got pretty funny language. It actually says like, did we mention that we're BYOB? Like it seems, it seems cool, but it seems like, why would I need them? Why wouldn't, why would you pay them money versus go and doing it on your own?

• 26:58Speaker 00

  Yep. So one thing I always tell people if they're thinking franchising. And again, here's another analogy. It's like a lot of brokers or people will say like, I know Sam and Sean. They just assume they want ice cream. So it's like, which flavor do you want? And I said, we gotta take a step back. Maybe they don't even want ice cream. Maybe they want cookies or cake. And you know, the dessert type being franchised versus real estate versus buy your own business. And so I usually tell people, if you're gonna do franchising, you need to think about this over a 10 year period. Cause most franchise agreements are 10 years. You need to say in five years, what value is this brand gonna be providing me? That justifies this ongoing 6% royalty. And so in food, it makes a lot of sense. McDonald's is gonna give you 10 cent per pound burger meat versus a dollar that you get on your own.

• 27:39Speaker 00

  You're getting more value in the bulk purchasing power of the brand, the menu innovation, the marketing, et cetera. Then you are keeping that 6%. And so a brand like another nine, because a lot of the value is front loaded. They're getting breaks on equipment and build out and helping you with site selection and design. You know, how do they create value over time? And for me, it was, I'm doing, you know, Franzy full time. They are gonna provide resources on an ongoing basis, training. They're building software that I don't wanna spend time building or investing. That allows better scheduling and easier marketing and lessons to go partner with existing golf courses to drive volume from, from that channel. They're building this really cool league, you know, software where Sam could be in New York and Alex is in Charlotte.

• 28:22Speaker 00

  And we could be doing a fantasy football type league where all of your high school or college buddies could play against each other. Yeah. In your respective markets and have this like fun, ongoing competition. So they're investing in technology that I think creates stickiness within the, the consumer base. They make the operations a little bit easier, maintenance contracts.

• 28:40Sam Parr?

  Right.

• 28:41Speaker 00

  And that's probably one of the least value add five years from now, kind of examples versus a restaurant. But even then it's worth it to me to not have to think about all that.

• 28:49Shaan Puri?

  Okay, so finish up the economics for me. So you said you're gonna go, you're gonna build this thing out for, let's just round it to 500 grand, and you're going to franchise this from these guys. They have a 6% royalty. What are you, and you got that 500 grand from the SBA?

• 29:04Speaker 00

  10% down.

• 29:05Shaan Puri?

  Yeah, 10% down. So you put 50K down, and you're gonna, you're gonna get the rest as a loan. So what are you looking for? And how do you, why, you know, I guess you're trying to do five locations. Maybe it takes five for this to really like be meaningful. Is that, is that right?

• 29:19Speaker 00

  So I always tell Bill, if you're gonna try to replace your income or have, you know, kind of like a side hustle or some side income, you can do that with one or two units. If you're really looking to fully replace, if you're a higher in or 250K plus in salary, you're gonna need three plus locations to replace your income and eventually build wealth beyond that. So for me and my partner, it was let's do five. They're very passive. There's no employees. There's no food and bev. We can run five as essentially a side hustle without having to be super involved in the day to day. One unit on average is doing just under 300K a year in revenue, which might not sound like a lot, but they have 55% margins because there's no labor, there's no food and bev. It's just the build out costs and rent essentially.

• 30:00Speaker 00

  You don't need high occupancy to get to a meaningful amount of profit. So we're expecting each one to do 150K in profit after all expenses. You get to five of those, you know, generate 750K in relatively passive income. You know, a lot of work for us upfront to find sites and build, but meaningful cash flow in the long term.

• 30:21Shaan Puri?

  And Sam had a good point a second ago where he was like, do you have to almost think like an investor and spot things a little earlier than the curve and figure out what's gonna have staying power? And you had this interesting thing you texted us. You said, turf businesses. And I think in this one, you were saying there's almost like a regulation that you will benefit from. You said like Vegas, for example, is prohibiting new homeowners from growing grass. So they have to go turf. Can you talk a little bit about that, like that idea and how you would capitalize on it?

• 30:51Speaker 00

  Yeah, so Waterloo Turf is the brand. He's a former private equity guy. And this is a big thing that I look for too. Just like Sam said, find trends. You're betting on people as well because this is a partnership. I think another thing people might discount in franchising is I'm not just buying Sean's old business. We shake hands and Sean and Alex don't really interact beyond that. No, I'm looking at Sean as a 10-year partner. We're going to work together. You guys are going to make investments in the brand, help me with marketing and your problems that I have and build a system of other franchisees that hopefully can all benefit from and learn from one another. And I think people maybe take that part for granted. So I just wanted to stress that. The founder of Water the Turf is phenomenal, former Cal-like guy, very deal-driven investment

• 31:33Speaker 00

  banker, very analytical, and he's looking for this trend and seeing the turf industry in the United States as $4 billion today. It's going to grow by another half a billion next year. And there's no clear winner. There's no national brand. No one's dominated this. Why don't I go build a franchise brand around it and do that and build capabilities and bulk purchasing power on an ongoing basis for the materials? There's ongoing maintenance to kind of re-turf and make sure the grass is still enjoyable for young kids and it's not wearing out quickly. It's another pretty affordable business to get into. It's only $105,000 to $150,000 to get into because you don't have the overhead of a retail store. There's no physical location. You don't need a lot of equipment.

• 32:15Speaker 00

  And so for $100 to $150K grand, you can own a business that on average is generating $1.3 million in annual revenue with profits around $270,000 a year. So again, one location in this example could replace a lot of higher-earner incomes, but now you're your own boss. You're an entrepreneur with a playbook and a team behind you versus having to have this completely original idea to convince you or make that push for you to leave your corporate job.

• 32:42Sam Parr?

  Why are you selling software to this? Why don't you just go buy a bunch of these? That sounds great.

• 32:47Speaker 00

  So I'm trying to do both. Which maybe sounds like a not great idea, but I have partners on the franchise side that are my version of Cal. I'm being more capital, a capital partner. I have operating partners in the franchises because I can't physically build a software company and operate a franchise portfolio. But the goal is to get to 50 to 100 unit portfolio, just like Cal's doing.

• 33:10Sam Parr?

  And let's just say hypothetically, let's say you get to 50 to 100. What are you telling yourself? You're like, oh, that I'll make five million a year off of that?

• 33:18Speaker 00

  Yeah, at least. And then the enterprise value. So like Cal with Papa Bagels or Dave's Hot Chicken. I mean, the exit multiple for him will be six to 10x on EBITDA compared to three to five x if he just owned Cal's Chicken Shop. Orange Theory at its height was trading for 21x EBITDA. It was insane. I mean, it was like a software business multiple on a gym. But because it was a part of a system, they had some recurring revenue. They, investors and private equity groups rolling them up, treated it like a software business.

• 33:48Sam Parr?

  Sean, have you heard of Papa Bagels?

• 33:50Speaker 00

  No.

• 33:51Sam Parr?

  They were started in this little town that I used to live in, Westport, Connecticut. And they have this crazy model where you can only buy 12 bagels at a time. I think you have to pre-buy or sometimes they're like changing their rules. But it was like you had to pre-buy 12 bagels in advance. And now I live in Manhattan and two things. One, they're better than like the normal mom and pop bagels. They are phenomenal. And two, every time you see one, there's a line. The pop-up bagel phenomenon is incredible. I've never seen anything like this. And I think it's just like a husband and wife started making bagels like in during COVID times. And it kind of turned into this like, they could be a billion dollar plus brand at this point.

• 34:35Sam Parr?

  What's, but what's your, Alex, what's like the calculus here, both in terms of like emotion, work and money on starting pop-up bagel or starting Orange Theory versus owning a bunch of them as a franchisee?

• 34:48Speaker 00

  So you're saying, starting as, you know, like the franchisor, like what the husband and wife did with Papa?

• 34:54Shaan Puri?

  Sam's saying, should I shoot to own 45 of someone else's chain? Or should I shoot to create the franchise and then franchise it to a thousand people, right? Sam, is that kind of what you're asking about?

• 35:05Sam Parr?

  Exactly.

• 35:05Shaan Puri?

  What's the difference?

• 35:06Sam Parr?

  Yeah, exactly. For example, we had Brian Scudamore on MFM a while ago. Brian started this thing called 1-800-GOT-JUNK. It was a horrible bit of business for like, I think 14 years. I think it took him 14 years to do a million in revenue. And then he was like, year five, after we decided to franchise, it took off. And now he's one of the, he's a multi billionaire. And I'm like, that sounds cool. But you're advocating towards the other stuff of owning someone else's franchises.

• 35:32Speaker 00

  Yeah, I think it goes back to like the entrepreneur archetype. Like if you're like that builder, you know, creator type, or like, you know, you are the less than probably one or 2% of the population that thinks that way and has those types of aspirations and doesn't want to have a boss. Like you're likely the kind of tech software entrepreneur or yeah, creator type. But I think 99% of the population is not like that, but they want to do something entrepreneurial. They just don't know what, they don't know how. That's why I'm such an advocate is, you know, had I not had that small college entrepreneurial experience, I might not have learned things to go be a successful entrepreneur later on. And the more people we can get, getting some of these reps in of like, all right, go build a team, go have to find a location, go have to solve these problems real time and have some of the shitty stuff

• 36:16Speaker 00

  that happens to you as an entrepreneur happen to you. So you learn how to take, you know, those punches and, you know, become an operator and an entrepreneur. That's why I'm an advocate for it. As me as an individual, I like the creator, like higher risk, higher reward. Let's go try to build this system to a thousand locations. And I, you know, I started that. The reality is, I don't think that's the majority of America or the majority of people.

• 36:39Shaan Puri?

  What do you think is the thing to look out for? Who's lying to me? So in any legitimate way of making money, there's always going to be. If there is a legitimate way of making money, there's going to be a bunch of people who come in and say, you know what? Let me ride the back of that legitimate way of making money and I will over promise. I will under deliver. I will try to, you know, sell a lemon to somebody. And this happens in real estate. This, I could tell you, hey, you know, tech investing, startup investing, that sounds great, right? You can invest in the future of entrepreneurs. Well, I could tell you the people who are going to basically. It's not a scam, but it's like, dude, you're gonna lose your money if you do it that way. And I could tell you the people who do it in a certain way where you have a good shot of making money.

• 37:21Shaan Puri?

  And there's a clear difference when you're on the inside, you know, you know who's who, right? And so in every industry, I think this exists. In the franchise world, what are the red flags? Who's lying to me? Who's out there trying to take advantage of you? And what should you look out for that would be the sort of signs to run away?

• 37:39Speaker 00

  Yeah, the reason I was kind of smarting is there are so many. And it is one of the main drivers behind Francy is that regulation. And I'm not a big proponent or a fan of overregulation, but it is the wild west in business brokering. And especially in franchising. So there's no licensure to become a franchise broker. Like real estate, you have to go get licensed and you're registered in the state. You have to take coursework, you have to disclose your commissions and fees and how you make money. In franchising, it is absolutely insane about what's allowed. So the three of us, boom, we're all franchise brokers in this moment. You're done, that's it. Like you don't have to go get registered in the state. You don't have to take a course or an exam. And then you can go charge a 60% commission on the franchise fee, six, zero.

• 38:23Speaker 00

  And for anyone that's ever done sales, I mean, outside of insurance, does anyone else know a sales commission? That's that high and that incentivized? No, I can't think of anything else that's that high of a commission. And so what does that attract? A lot of people who are going to say what they need to say to get a huge payday. If they close a couple of deals a year, it's two, three, 400 grand. Some of these brokers are making a million dollars a year, not having to run anything other than convincing someone to buy the right business.

• 38:49Shaan Puri?

  So was the brokers.

• 38:55Speaker 00

  So like I hope some regulation happens and pushes it. At least tell people how you make money and how much so that you know, because. Half the time they're not telling you and you think as the person receiving their services, this person's smart, they're gonna help me, this is great, it's free for me and you know, you know they're making some money on the backend, but you don't realize just how much. The bigger issue on top of it is they might only be showing you the 15 to 20 brands that they have an agreement with and so there's 4,000 brands and you're being shown this universe of 15 to 20, having no idea what's happening out in the background. It'd be like buying a house from a real estate agent that's also the listing agent on the house and them only showing you the listings that they're also the listing agent.

• 39:31Shaan Puri?

  How do the brokers work? So are they, where do they, where do they sit in this ecosystem? So are they cold calling people? Are they running like webinars? Like what are they doing to even get in the middle of the transactions? How are they generating the transactions?

• 39:45Speaker 00

  You guys probably both get a lot of LinkedIn messages and I'm sure you've got a bunch of franchise brokers in your inbox saying, "Hey Sean, have you ever thought about owning a car wash franchise or this? You'd be a great entrepreneur, a great operator in this business." And a lot of LinkedIn outreach, yeah, webinars, some of them make YouTube channels.

• 40:01Shaan Puri?

  Right. Telling you how easy it is.

• 40:04Sam Parr?

  Wait, and is this Franzi's business model? You get 60%?

• 40:08Speaker 00

  No, so I wanted to build Franzi to just...

• 40:14Sam Parr?

  These fucking brokers, except me, they suck.

• 40:16Shaan Puri?

  Trying to disrupt that broker model.

• 40:19Speaker 00

  I'm trying to disrupt the broker model and democratize it. So hey, instead of the 20 brands that a broker might show you, here's 4,000, here's all of them, because we scraped what are called FTDs, franchise disclosure documents. It's like what Zillow did with the MLS. So now every brand is out here, the good, the bad, the ugly, which ones have failed, shut down locations, have declining AUVs and revenues. And then we charge a flat dollar amount to the brand. So instead of 60%, it's about half of that. It's flat across all brands and we disclose that upfront to our clients. So think of us as more of a franchise fiduciary. So we're, here's how much we make, here's how it works, we have AI that's matchmaking you with the right brands based on all these unique things about you. And then we just help you find the right fit, get financing, get your entity formed,

• 41:01Speaker 00

  get the right franchise CPAs, franchise attorneys involved, et cetera.

• 41:05Sam Parr?

  What brands would I have bought 15 or 20 years ago that just crushed it today? Like what can we look back on and put together some dots for the, or you know?

• 41:15Shaan Puri?

  10, 15 years.

• 41:16Sam Parr?

  Yeah.

• 41:17Speaker 00

  Yeah, Nothing Bunt Cakes is still one of the best unit economic businesses there was. I mean, Roark Capital is this also kind of hidden behemoth that owns the majority of brands that most people don't realize. They own Driven Brands, which is Mineki, Mako, Take Five. They own Inspired Brands, which is Aunt Diane, Cinnabon.

• 41:36Sam Parr?

  So Roark Capital, according to Wikipedia, has 1.4 million employees and $37 billion under management. So it's just a huge company that owns tons of franchises.

• 41:48Shaan Puri?

  So when I'm on their site and I see Dunkin', like Dunkin' Donuts, what does that mean? They own some locations or they own part of Dunkin'?

• 41:55Speaker 00

  They are the franchisor. So Rourke's playbook is let's go buy up the franchisors. And now they have that 6% royalty stream into perpetuity across all of these brands.

• 42:05Shaan Puri?

  So they have Splash Swim School, they got Jimmy John's, Dunkin' Donuts.

• 42:08Sam Parr?

  Sean, are you gonna let, are you gonna let these guys come after the Patel mob? Everything you worked for, they're coming at it.

• 42:15Shaan Puri?

  No, everybody needs exit liquidity and this is ours.

• 42:19Shaan Puri?

  You guys love Indians.

• 42:22Sam Parr?

  Okay, so which other businesses were cool 10 or 15 years ago? Nothing Bunt Cakes? I've never heard of that.

• 42:31Shaan Puri?

  That was hilarious.

• 42:32Sam Parr?

  What?

• 42:32Shaan Puri?

  It was choice.

• 42:33Speaker 00

  You gotta, you gotta, you gotta try it. It is really good. And again, the economics are, I mean, low food costs, very good AUVs. I think it's three, three million or so. The box is small and simple.

• 42:45Shaan Puri?

  There's one near me. This, this location could on average would do three million in revenue?

• 42:50Speaker 00

  Yes.

• 42:51Shaan Puri?

  Selling these cakes?

• 42:53Speaker 00

  Selling cakes. I'm telling you, it's disgusting.

• 42:57Sam Parr?

  Yeah, I don't even know what a bunt cake is. It's like so horrible.

• 43:00Shaan Puri?

  It looks disgusting.

• 43:01Speaker 00

  Don't, don't knock it till you try it, I'm telling you, they're...

• 43:03Shaan Puri?

  Dude, if they just changed the name from bunt cake to something else, I would be so in.

• 43:11Shaan Puri?

  Today's episode is brought to you by HubSpot. Did you know that most businesses only use 20% of their data? That's like reading a book, but then tearing out four fifths of the pages. Point is, you miss a lot. And unless you're using HubSpot, the customer platform that gives you access to the data you need to grow your business, the insights that are trapped in emails, call logs, transcripts, all that unstructured data makes all the difference. Because when you know more, you grow more. And so if you want to read the whole book, instead of just reading part of it, visit hubspot.com.

• 43:37Sam Parr?

  Okay, but nothing fun cakes. That one was a winner. What else was a winner?

• 43:43Speaker 00

  A lot of home services, like Benjamin Franklin Plumbing, Mr. Sparky, your electrician.

• 43:49Shaan Puri?

  Oh, wait, you could just use Benjamin Franklin's name?

• 43:52Speaker 00

  Apparently.

• 43:54Speaker 00

  Yeah, the home services businesses.

• 43:56Shaan Puri?

  George Washington's gutter suckers.

• 44:01Speaker 00

  You guys talked about 1-800, you know, junk as well. And then Omar Solomon from College Hunk's Moving Junk, they did really well. Same thing as one, very similar to 1-800 Junk. Obviously Hotels, Marriott, Hilton have done incredibly well.

• 44:17Sam Parr?

  We had this guy named John Morgan. He's a billionaire. He is Morgan and Morgan Law Firm. He kind of like, you know, he's a billionaire. And so he owns just crazy amounts of stuff. And he's got all these stories. And like, two or three times, he said, I don't know if you remember this, Sean, he was like, yeah, we own some Marriott Hotels. Like, he just like, made these comments that were fairly offhanded, but it was probably like an eight or nine figure like thing. It was like, probably a pretty big deal. I'm shocked at how many like ballers are in on this. It's pretty amazing.

• 44:47Speaker 00

  They, I've found, like with the podcast, the ones that have more than 50 units open, they don't want to come share what they've done because they're like, this is such a good, good hidden gem. I don't want to talk about how I did this or that it's out there. Because, again, it is substantial wealth creation. I know a guy that owns, when I first met him, he was at 47 McDonald's. And he was producing, I want to say it was like 35 or so million a year in cash flow. He's paid like an NFL quarterback. And he told me, he's like, I don't remember the last time I stepped foot inside of McDonald's unless it was one I was looking at buying. But I haven't eaten here. I haven't worked here. I've got one COO who runs the whole thing for me. I've got two private planes, because one's not enough, I guess. And he just does whatever he wants and has this thing, you know, cash

• 45:31Speaker 00

  flowing. I talked to him recently. He's up to 90 McDonald's now. And you know, the math on that's probably close to 70 million or so in cash flow a year.

• 45:41Sam Parr?

  You're doing a good job of proving your thesis to be true. What um, what's the nothing bunt cake but today?

• 45:48Speaker 00

  Oh, but it's like the one that's just taking off. We mentioned it earlier, but just the, you know, the pop-up bagel has this cult-like following, a phenomenal brand, great revenues, simple business model.

• 46:00Sam Parr?

  Is food the best? Most of all, the best ones you've mentioned is food, but food seems a little bit more fatty.

• 46:05Shaan Puri?

  Yeah, exactly. It seems like I would want to own the plumber type of business or like, you know, home services or turf or whatever. Those seem, naturally, I would try to go to the unsexy, maybe recurring, maybe higher ticket, maybe kind of local monopoly. It's not a fashion choice. It's not a trend. I don't need to be able to keep coming to the gym and stay motivated. I don't need people to, to change their, their diet habits, you know? Am I wrong in that? Is that, is that the wrong lens for this sort of thing?

• 46:31Speaker 00

  No, I think, you know, home services does phenomenally well. Food is tough too. Like, if you don't get the right brand and hit the right trend at the right time, like, it's very expensive. It's harder to get in and out of. But if you find the right one, they're highly profitable. There's a lot more systemization and, you know, tools that the franchisors are providing in that peer network. But if you're looking at like, hey, I'm the everyday kind of average person that wants to get into franchising and still have, you know, pretty significant upside. You're right, home services, because you're not building a retail location. You're not constrained by, what if I picked the wrong location and now I'm stuck here with this huge investment and I can't move this box? It's, you know, million dollar, two million dollar investment. But if I own Benjamin Franklin Plumbing, or there's one called Garage Kings that, you

• 47:15Speaker 00

  know, I think Damon John from Shark Tank was hyping up at one point, but they go epoxy your garage and like, kind of pimp out your garage, custom shelving and epoxied floors and racking and all this stuff. They'll do 1.3, 1.4 million a year in revenue and very high margin because, again, not a lot of variable costs or, or fixed costs either. And here's going around pimping out garages and cash flowing half a million dollars a year.

• 47:38Sam Parr?

  Dude Sean, we have this guy named Tommy Mello coming on. Have you ever Googled Tommy Mello? Tommy Mello, sounds like a gangster. So, yeah, he is gangster. Wait till you talk to him. He's cool. I think he's coming on in a couple of weeks. A1 Garage? A1 Garage. I think all they do is garage doors. And he sold a half the business, give or take. I think at a, for sure, it was in the billion dollar plus valuation. And his garage doors, I think they do something, he shares everything. I think it was like 250 or 300 million dollars a year in garage door replacement.

• 48:13Speaker 00

  That was the thing with Garage Kings too, is the average unit volume is 1.3 million and they're like, we're not even doing garage doors or other fixtures yet. And that's going to add another half a million, you know, per territory annually. So it's just these like unsexy overlooked things that, you know, if I-

• 48:28Sam Parr?

  But I do think that a lot of people make a mistake there. So I have a friend named Chris who took over his father's HC, HVAC company and he scaled it from 10 million to 200 million in revenue. And he was, yeah, it's called Hoffman Bros. And it's in St. Louis, now Nashville. And he was telling me, he was like, you know, all the, he was like making fun of me. He was like, all you tech bros think that it's so cool to get in this business. He's like, you don't know the half of it, what I have to deal with. When you're working with a blue collar HVAC guy. But what he said, he was like, my competitors, they're a lot smarter now because a lot of the young guys have taken over. But he was like, we give our guys iPads and we teach them, like we literally have a checklist for them. So when you go to the door, pet the dog. We ask permission, say, may I come inside here? I've got these things I'll put on my feet.

• 49:10Sam Parr?

  When you leave, you say something like, hey, I'll get a $50 bonus if you leave me a Google review here. Like just this checklist of things that a lot of mom and pop businesses, they just don't do. And so on one hand, I do think that like, people like us are like, yeah, it's just an overlooked thing. Like you're so smart, you went to a good college, just go start a garage door business. When in reality, it's way more challenging than that. But also at the same time, I do think that there are a lot of like people who don't sweat the details. Like maybe a little bit more of a militant operator would.

• 49:41Speaker 00

  Yep. No, that's completely fair. But I think whether it's a corporate job, a tech startup, or one of these unsexy- Collar, you kind of base things. There is no shortcut. It is all gonna be hard work. And for me, it's that person that's willing to work hard. They're smart, they're capable, and they have capital, or they have access to capital. Like, you can go do this. Most people can go figure this out. It's not gonna be this cakewalk, and it's completely downhill. But if you got the work ethic and you're willing to do it, franchising is a great way that's de-risked and what is this?

• 50:16Shaan Puri?

  This is the, this should be the only thing in the MFM merch shop. This giant flag you put up on your wall says, "We do this not because it is easy, but because we thought it would be easy." The story of my life. All entrepreneurial ventures for me start this way.

• 50:32Speaker 00

  We get dozens of people that come through. They're like, "What's like a good business I could invest in where I don't really have to do anything?" I'm like, "Not this. So go, I don't know, go maybe buy Bitcoin. I don't know."

• 50:44Shaan Puri?

  I'm unique in that I want a lot of money with the least amount of work, but I really don't want to take a lot of risk either. So what do you got for me?

• 50:52Speaker 00

  Like, nothing.

• 50:54Speaker 00

  Sean, I was thinking of another, I was thinking of another one when we were talking. You're like, "What other kind of trends?" And I think one that we haven't talked about is, you know, seniors, aging population, baby boomers. There is a ton of demand, pent-up demand right now for senior care that you'd think would be, or everyone else has this idea, they're gonna go build other facilities and in-home care. But we'll, like, every once in a while, for market kind of validation, we'll call places up and say, "Hey, my grandmother, my mom, etc." And like, "Oh, we, you know, we're booked out. We have a list that's eight months long, 12 months long." And this is in most markets. So there is not enough supply for the amount of demand there is. And so there's another one that's been around for a while. It's called Home Watch Caregivers. Total investment, 120K to 177K.

• 51:36Speaker 00

  Two and a half million average yearly revenue doing senior care.

• 51:40Sam Parr?

  What about funeral homes? Are funeral homes franchises?

• 51:45Shaan Puri?

  Sounds like, well, we're just gonna, we're just gonna roll up the sleeves here and get in the mud.

• 51:50Speaker 00

  Got the whole thing.

• 51:52Shaan Puri?

  Cremation walls.

• 51:56Sam Parr?

  Well, I was asking for a bunch of reasons. One, baby boomers are at that age, but also Sean has this thing called one chart businesses. And a few years ago, he showed us the charts of cremation. And it was just like astronomical, how many people prefer being cremated now versus 20 years ago.

• 52:10Shaan Puri?

  It went from like 10% to 50% of the market.

• 52:14Speaker 00

  Wow.

• 52:14Sam Parr?

  And, and you said that everything, or you said that a large percentage of the stuff that we work with, that we know about is a franchise, are funeral homes?

• 52:21Speaker 00

  I haven't actually seen, I'm sure there is one, but I haven't seen a funeral home franchise. But if you're trying to do your vertical play here, there is crime scene cleanup franchises. So you could start there and it's called Bio One is one of them. There's a few, but they literally are.

• 52:37Sam Parr?

  I think we talked about that.

• 52:38Speaker 00

  Yeah, they're, they're going and cleaning up crime scenes and everything that comes with that.

• 52:43Sam Parr?

  Wow, that's incredible.

• 52:45Shaan Puri?

  Yeah, there, there definitely are franchises for this in both funerals and cremation. And there's also the, the pet, isn't the pet cremation one like a big one now? It's everywhere. There's no, there's, I don't think there's any space where you're like, is there a franchise? Like the answer is pretty much always yes. It's just a question of like, how good is it?

• 53:02Sam Parr?

  Check this out. Go to aftermath.com, Alex.

• 53:04Speaker 00

  Aftermath, oh gosh.

• 53:07Sam Parr?

  You know, this business is doing really well if they bought aftermath.com.

• 53:11Shaan Puri?

  This is the crime scene, crime scene cleanup?

• 53:14Sam Parr?

  Yeah.

• 53:15Speaker 00

  Oh, wow.

• 53:17Sam Parr?

  This is for the folks out there who have a business that does at least $3 million a year in revenue, because around this point, that's when you're able to look up after being heads down for years, building your company, and you realize two things. One, you've done something great, but you're still a long way from your final destination. And two, you look around and you realize I am all alone. I've outrun my peers, which means you're now making $10 million decisions alone, by yourself. And that is when mediocrity can creep in. My company Hampton, we solved this problem by giving a room of vetted peers of other entrepreneurs who are going to hold you accountable, call you out on your nonsense and help show you the way. Because the fact is, is that there's only a tiny number of people in your town who know what you're going through and who have been there.

• 54:01Sam Parr?

  And they're hard to find. The biggest risk is not failing. You have a company. And it's working, you're gonna be fine. But the biggest risk is waking up 10 years from now and saying, shit, I barely grew in business and in life. And for people like you who are ambitious, wasted potential and regret is what we want to help you to avoid. We have made so many of these groups and we have a thousand plus members and I know this stuff actually works. It can change your life, it changed mine and I know it will change yours. So check it out, joinhampton.com.

• 54:33Shaan Puri?

  By the way, you said you scraped the data, so they have these disclosures. And the disclosures basically have to say the good and the bad, right? So it's like, basically, there's a required set of financial reporting that these franchises have to do, similar to like how public companies have to report their numbers. But almost more structured, right? Cause you specifically, like I've seen this with MLMs. MLMs also have to publish all of their data about how their, you know, whatever their associates are doing. And it's basically, you know, you look at this table and it's like, well, so 98% generate less than a thousand dollars. And then after that, you know, the rest of these people do well. And so all the number, all the data is very structured because they're legally, you know, they're legally required to do that. Is it the same thing with franchises? Like, can I go get very clear pictures?

• 55:16Shaan Puri?

  Cause I tried, I looked into this one activity place and I was like, oh, this is great. This is gonna crush. And so I was thinking about buying a franchise for my sister, for my trainer, like, you know, a business in a box that they could run. And they were so evasive, I shouldn't say evasive, but like, it was not easy to just get clear answers to like three questions. You know, what is the range of revenue to expect? What is the range of profit to expect? And how many, how many of the locations are, you know, profitable or unprofitable? Like, you know, is the average, you know, is it 2% of the locations are unprofitable or, you know, 50%? And, um, you know, just general questions like that. It was like, well, you know, it'll all be in the packet. And I was like, it's not in the packet, you know, because they're not required to report in certain ways.

• 56:01Shaan Puri?

  So I guess what have you found in scraping all this data?

• 56:03Speaker 00

  Yeah, so every brand is regulated by the FTC, the Federal Trade Commission. They're required to have this 200-page legal document called an FDD. It's a franchise disclosure document, and it's very structured, to your point. But kind of like a public, you know, company's filings, there's little tricks and adjusted EBITDA. You gotta read 30 footnotes to figure out what the hell's going on. Brands are doing the same thing, and so we help people navigate those. The reason we built Francy again was, just like Zillow, you can go here and see what's this gonna cost? Is there bankruptcy? Is there litigation? How many have shut down? I tell people to go look at the item 20. It's where they show how many units they've sold, how many are open, and how many stores have shut down. Because it's the best way to go see, is the system relatively healthy? Are a bunch of people selling?

• 56:47Speaker 00

  Are they actually opening the units that they've sold? Or is there a huge delta? It's a good indicator of do they have their, you know, systems and their shit together, basically, to go sustain this and do this well. And then the best validation is just go talk to other franchisees. People who are actually doing it, who are in it. And what you described is a red flag. If a brand is not willing to share certain things that they're allowed to share, it's a red flag.

• 57:09Shaan Puri?

  What's the best practice for contacting? Is it just you cold-call? You say, "Hey, I'm looking into franchising in a totally different territory."

• 57:15Speaker 00

  Yeah, I look at it like hiring someone. Like, you know, you ask them for their references, and they're gonna give you like their mom and their best boss they've ever had, and they're gonna say all these great things. But then you should go talk to their bosses or employers that they didn't give you, but they mentioned in the interview. And that's really how you get validation. Same thing here. The brand is gonna serve up their top two performing franchisees. They're gonna say all these great things, and you're gonna feel like, "I have conviction now." You should go on LinkedIn and find two or three others that they didn't list, and just go, you know, cold outreach. People, if you reach out thoughtfully, they will spend 20 to 30 minutes with you, telling them, you know, you're the good, the bad, and the ugly.

• 57:49Shaan Puri?

  Let's say you got a 20-minute phone call with them, and you got to ask three questions. What are the three questions you would ask one of those other franchisees?

• 57:57Speaker 00

  Yeah, immediately, you know, would you do this again, knowing everything you know now?

• 58:03Speaker 00

  And that should be pretty telling, because they're either like knee deep in it at that point, like, this sucks, I'm spending way more time, I've lost money, this is brutal. Or they're like in the hard part still, they're in the J curve and they're coming out, they're like, I see light, I'm super bullish on this, and yeah, I would do this again, or they're killing it, and you know, they love it. So like, that question usually you get a lot out of. I then would ask about support and what it's like working with the brand, because a lot of the reason you're franchising versus going on your own is, is the team actually providing values that's 6% worth it? Or would you have been better off doing this on your own? And so that's a good indicator of should I franchise this or not? Or be a franchisee of this or not? Lastly, you know, I'd ask how much money you're making, you know, how profitable is this? Is it what you expected? Is the juice worth the squeeze?

• 58:46Speaker 00

  Because they might be making some money, but it was a lot of investment, it was a lot of time for something they could have produced in the stock market, or in real estate, or something else.

• 58:55Sam Parr?

  I'm just looking for the pain in their voice, regardless of what they're saying. I'm just trying to detect the underlying pain that I can sense.

• 59:02Speaker 00

  Well, the good thing about doing these validation calls is, yes, while they have an interest in the brand, you aren't going to compete directly with them, you aren't going to add necessarily value to their location, and so they have no incentive to protect the brand and lie, and be like, Sean, I would do this in a heartbeat all over again, because it doesn't actually directly benefit them. So you are going to get real, raw responses most of the time, because they don't want someone else to go make, if it was a mistake, the mistake that they made. They want to help you out, they're hopefully not vindictive people, for the most part. And if they're doing well, they're going to be happy to share that too.

• 59:40Sam Parr?

  The franchise industry seems kind of cool to us as content people, because we have these guys that are kind of these cowboys, they're like these Midwestern or Southern guys who are really wealthy, and you know, it's like that meme of like, when you get on an airplane, if you see a guy with like baggy blue jeans and loafers and like a fat Rolex, and he's like reading like, you know, like a prospects reports, just like on paper, you know what I'm saying? Like, do you meet a lot of people like that? Because that seems like, it seems like there's like a lot of really cool stories here.

• 1:00:13Speaker 00

  There are so many and that's part of what we're doing with our show is like, how do we highlight these and it's trying to just get them comfortable to even tell because it's such a, it gets such a good thing going. They don't want to mess it up and you know, attract more private equity than is already flooding the franchise model, you know, today and is only growing. But yeah, there is a lot of stories like Cal's where five years ago, they weren't doing this and now they've got a business doing a couple hundred million a year in revenue. And that's where I flipped. I used to be, again, franchise model hater and I should just go do this myself and everyone should just go do it themselves. You can extract 6%. And yeah, then you realize how many corners, not that you're cutting, but just how much value is created in that system and bulk

• 1:00:55Speaker 00

  purchasing power, branding, et cetera. I've become a believer for the right person and the right brand. I mean, there's a lot of ifs still and things you need to check off and make sure it's the right fit. But yeah, there's a lot of these cowboys out here that are kind of unassuming and running massive businesses.

• 1:01:14Sam Parr?

  One of my favorite franchisers was the dad in the movie, The Blind Side. Do you remember that, Sean?

• 1:01:18Speaker 00

  What was your franchiser?

• 1:01:21Sam Parr?

  The joke in the movie was Tim McGraw's character. It was based on a real character and he ended up selling this for nine figures. But he was like, you know, the kid with dad brag, he goes, "My dad owns 50 Taco Bells."

• 1:01:32Speaker 00

  I was gonna say, it was like Jack in the Box or Taco Bell?

• 1:01:34Sam Parr?

  I think it was Taco Bell, Domino's Pizza or Pizza Hut. Are they the same, like Yum Brands?

• 1:01:38Speaker 00

  Yeah, Yum Brands, KFC. It was Pizza Hut, Taco Bell and KFC.

• 1:01:44Sam Parr?

  Yeah, like bragged about it. And I thought that like in my head, that has been what the franchiser is basically a franchisee is an ex-high school quarterback who married the high school sweetheart and is a good guy with kids and he owns about, you know, 10 KFCs and three Taco Bells. And he brings it to school for his kids to make the class like him.

• 1:02:06Speaker 00

  You should, you guys should get, if you can get him on is, I think his name's Greg Flynn, but it's the Flynn Group. They own thousands of franchise locations and their system, their business, this is like a family-run business. They're, and don't hold me exactly to these numbers, but they, a report came out in the last couple of months, the Flynn Group did, I think it was 6.3 billion in revenue last year, owning franchise, like their franchisees. And so that was more revenue than KFC, Domino's.

• 1:02:41Speaker 00

  Popeyes, like huge brands, this group of franchisees is doing more revenue than the whole parent, the whole franchisor of, you know, very well-known, very large, large brands.

• 1:02:51Shaan Puri?

  Their homepage, when you go to their website, the hero banner is just onion rings falling from the sky.

• 1:03:00Speaker 00

  Who doesn't want that? Who doesn't want onion rings falling from the sky?

• 1:03:05Sam Parr?

  Now that I think about it, there are so many more ballers than I thought. Sean, do you remember Lorenzo Fattita? The guy who was the founder and CEO of the UFC? Well, he came from a wealthy family, so they've been ballers for forever. But before he was the CEO or founder of the UFC, he was the CEO of Gordon Biersch. If you remember those guys, it's a brewery, it's a franchise, I believe, but it's a brewery and bar is all it is.

• 1:03:28Shaan Puri?

  I didn't know that. I thought they were like hotels in Vegas.

• 1:03:30Sam Parr?

  They were. They, the mom and dad, the, the family was rooted in that. And then also, for some reason, he, in 1995, he bought controlling interest in the Gordon Biersch Brewing Company. And I think they had franchises.

• 1:03:44Speaker 00

  Here's an interesting one I saw the other day. It was there are more millionaires generated from franchising than all combined players ever in the NFL.

• 1:03:53Sam Parr?

  Dude, you, you made this bold claim and I wanted to fight you about it. Now I'm totally on your team.

• 1:03:59Shaan Puri?

  My first mentor in college, when I was in college, we entered a business plan competition and we were trying to win and they, they assigned you a mentor. So the first team, they got matched with this guy who was like a biotech entrepreneur, sold his company for like $4 billion. The second team that got up, they got matched with the guy from Mint.com, Aaron, Pat, whatever his name is. And, and you know, so he's a tech entrepreneur, you know, hundreds of millions of dollars. And they were like, you guys are going to be with Michael. And we were like, who's Michael? And they're like, Michael Owens. The number one, and I'm like, what is it gonna be? He's like, largest chain of Applebee's in North Carolina. And I was like, oh, wah wah. And so I was expecting, I was like, And Michael pulled up at a Rolls Royce.

• 1:04:44Shaan Puri?

  We, exactly, we go outside. Michael's got the best car. Michael's got the freest schedule. He's like, I'll meet whenever you guys wanna meet. This guy owned, I think, like 13 or 30 Applebee's or something like that. And I remember-

• 1:04:55Speaker 00

  I know exactly who you're talking about. I'm in Charlotte. It's Michael, I didn't even know the last name.

• 1:04:59Shaan Puri?

  This is his last name.

• 1:05:00Speaker 00

  Yeah, that's right, yeah.

• 1:05:01Shaan Puri?

  He was such a good guy and he had like such a, um, his story was so cool and it was kind of inspiring because up till then, my frame of like, well, if you wanna make it as a entrepreneur, like you need genius invention. And here was this guy who was clearly living this wonderful life, who was super successful. And what was his genius invention? Not like, he basically was just like, I will take, like what to me was the most boring food franchise you could, like literally Applebee's would have been like, if I was coming up with a joke, that's what I would have said. And I just noticed on this fling group, there is on their timeline, it says 1999, our journey begins with eight Applebee's. And now they have 5,000 plus units or whatever. They have like, you know, thousands of units.

• 1:05:42Shaan Puri?

  Um, and they're like expanding into New Zealand as territories, cause they're just like, you know, dominating the whole globe. And I just remember like, kind of that guy broke my frame because he really had like, built this wonderful life without doing what felt like, you know, pulling a rabbit out of a hat. Or catching lightning at a bottle and coming up with a new invention, the new product that just say, you know, like, sets the world ablaze. And you know, there's, cause there's so many different ways to win. It just kind of depends what you're, what you're suited for. You know, he was a great executor, he was a great manager and he was great at building up and developing people so that they could run the locations. And that's what he needed to be great at. So it's not like it was so easy, he didn't do anything, but he was great at those things rather than coming up with, you know, the game changing concepts.

• 1:06:21Speaker 00

  Well, Sam, you asked me earlier, like, why, why don't you just go open a hundred of these? And why are you building a tech company? And what Sean just said, you know, is, is the tempting part of it. It's like, all these tech entrepreneurs I meet, I think they, they sound smarter, they sound more sophisticated than the multi unit franchisee people I meet. They're working way harder.

• 1:06:41Speaker 00

  But maybe, maybe we got it all wrong because 90% of them go to fail. And they're wasting all this like hard work and talent and brain time on this thing that has such a small chance of outside success. And then I'm meeting the Wild West Cowboys on the plane and they're like, yeah, I just followed the playbook. Not again, not to make it sound like it was all a cakewalk, but they're like, yeah, I just followed the playbook. I am good at finding real estate and making deals with landlords and I started with one and now I got 50 and I make 20 million a year and I don't.

• 1:07:07Sam Parr?

  Yeah, but look, the, the grass is always greener on the other side. Like as someone who worked in fast food and worked one of these jobs.

• 1:07:13Speaker 00

  Yeah.

• 1:07:14Sam Parr?

  You don't want to, you didn't want to hang out with me. Like, you know what I mean? Like you would not have wanted to like managed me when I was a kid. And so like there's, the grass is always greener. It sounds so. My brother-in-law owns a moving company and I hear the numbers and I'm like, that's awesome. He's like, dude, I had to fire a guy the other day because he was doing heroin.

• 1:07:30Speaker 00

  Yeah.

• 1:07:30Sam Parr?

  Like on the job, like, so like, you know, pros and cons, pros and cons. But I tell you what, there seems like a lot of pros right now. Where do you, uh, where do you live?

• 1:07:41Speaker 00

  I'm Charlotte, North Carolina.

• 1:07:43Sam Parr?

  Are you building the company there or remote?

• 1:07:46Speaker 00

  Yeah, building it in Charlotte. We have, no, we have, you know, team members in South America, Philly, but the majority of us are here in, in Charlotte.

• 1:07:53Sam Parr?

  How much did you raise?

• 1:07:55Speaker 00

  We raised three and a half million in our seed round to go and we launched January of this year. We're up to 35,000 unique visitors a month coming to the site and starting to build out a, a second product with it. Our goal is to basically sales force, but for the franchise model. So we help you buy a business. We help you operate your suite of franchises or your portfolio of franchises. And then we help you sell those back on our, our marketplace.

• 1:08:18Sam Parr?

  What's your revenue range now? Have you crossed eight figures?

• 1:08:21Speaker 00

  Uh, not yet. No, we're, we're less than 11 months in. Um, so we'll do, you know, seven figures this, this first year, which for a startup in the first year, we're, we're happy with.

• 1:08:31Sam Parr?

  Sorry. I thought you said you'd started a while back. I didn't mean to be like. Just have a mindset, you don't have 10 million.

• 1:08:37Speaker 00

  Wait, where are you finding these companies? Because I want to invest in them.

• 1:08:41Sam Parr?

  This is pretty cool. I didn't know what we were getting into when we got into this. I thought, A, you were just going to pitch your company. And in which case, that wasn't going to be great. And you didn't do any of that. And B, I was like, franchises? I don't want to hear about this. And it turns out, it was actually one of my favorite episodes. Like, this is, the type of people you get to hang out with and the stories you get to hear. And frankly, you, the type of personality you have. That's, these are some of the stories that Sean and I like uncovering.

• 1:09:10Sam Parr?

  Maybe people that aren't in the SF New York scene, which Sean and I both are in. And so it's really fun to hear your perspective on stuff. It's pretty cool.

• 1:09:18Speaker 00

  Thank you. That goes a long way. I know you guys see a ton of business models and people. And I felt the same way. And sometimes I still even feel a little crazy about what we're doing. It's like, is this something that can really help people? And I want them to have the same entrepreneurial experience I had. They just might not want to do a tech company from scratch. Like, how do I show people and educate people that this is a path? If you want to walk down it. I know I'll probably overuse analogies, but when you think about the financial housing crisis, like people are, who's to blame? Is it the banks? Is it the administration? And I think, using that as an example, banks started originating a ton of mortgages because Fannie Mae and Freddie Mac said, we'll take the risk off your balance sheet. And so, of course, the bank's going to go originate a ton of mortgages. And was it unethical? Yes, but their incentive got taken away. And I look at franchise brokers the same way.

• 1:10:01Speaker 00

  It's like, it's not, is it their fault? I don't know. Like, no one's regulating them. They're, everyone else is doing it. And so there's no cap on it. So they're going to go sell businesses and make 60%. But my thought is let capitalism do what it's good at and level the playing field and democratize things. And hopefully, that's what we're able to do here at Franzy.

• 1:10:22Sam Parr?

  Well, sick dude. Great stories. You're a great guy. You got a great goatee. Great podcast. This is it. That's the pod.

• 1:10:41Sam Parr?

  All right, everyone, if you're listening to MFM, you probably want to make more money. Well, I want to tell you about a podcast you might want to check out. It's called The Sales Evangelist, and it's hosted by Donald Kelly. Each week, Donald interviews the world's best sales experts who share their strategies to succeed in sales. They share actionable insights and stories that will encourage, challenge, and motivate you to hustle your way to the top. If you're someone looking to raise your income level, check out The Sales Evangelist. You can find it wherever you get your podcasts.