Today’s guest is Pete DiFilippo, a principal at C Squared Advisors, a leading investment bank and advisory firm that helps multi-unit franchisees in the restaurant and retail industries maximize the value of their businesses by presenting comprehensive solutions and executing complex transactions. Prior to joining C Squared, DiFilippo served in franchise finance leadership roles for well-known national banking institutions.
With more than 100 years of collective experience, C Squared has helped sell, purchase, re-franchise, and recapitalize more than 10,000 franchised locations. Services include mergers, acquisitions and divestitures, valuations, private financing and recapitalization, restructuring, and ongoing financial advisory services.
[2:46] - Pete shares his background and experience in business and franchising.
[4:20] - Covid-19 changed so many things and caused a lot of turmoil in the industry.
[6:23] - Some franchisees may get to a point where they want or need to sell.
[8:29] - Pete describes how C Squared helps franchisees and franchisors with their business and their specific needs.
[10:21] - C Squared doesn’t focus on specific types of clients and customers. They customize their service to work with every type of franchise.
[11:20] - What sets C Squared apart from the other advisory companies?
[13:30] - Pete shares his advice for business owners to be prepared for the time they want to sell their business. They need to have everything in order.
[17:41] - Surround yourself and your business with the right people.
[18:54] - C Squared looks closely at a lot of different factors to make sure businesses are appealing to potential buyers.
[20:54] - Focus on the things you can control. There’s always going to be noise and issues, but continue to stay focused.
[21:27] - This industry is very resilient.
Mentioned in This Episode:
Altri episodi di "Franchise Euphoria"
Seven Brothers Burgers with Seek Hannemann
17:27Joining today is Seek Hannemann, CEO of Seven Brothers Burgers. At Seven Brothers, they believe that the food industry is growing and pushing to faster, quicker, more convenient ways of how customers experience dining out. The human connection that restaurant food once had is getting buried and looked over by this constant race. They are in an effort to build and focus, more than ever, on that connection to bring back that feeling. Seven Brothers is a family focused business and says, "We're not in the burger business. We're in the business of changing lives." When customers come in, they want to make sure they feel wanted, needed, and appreciated. Key Takeaways: [1:52] - Seven Brothers Burgers started as a family business at one location in Hawaii and eventually opened a second location before moving stateside. [3:04] - Initially, they weren’t sure about franchising out of fear of losing the integrity of the family business. They sought guidance before diving in. [4:35] - As a family-focused business, one priority for Seven Brothers is to bring franchisees on board that share the same values. [5:54] - They began with social media marketing, but the majority of franchisees have come from word of mouth in current locations. [8:40] - Seek shares a little of the menu items that set them apart. [10:56] - One motto of Seven Brothers is, “If it’s not perfect, it’s not worth it.” [12:15] - There really are seven brothers in the family and all of them are heavily involved in the business. [14:26] - What are the goals and mission for Seven Brothers Burgers moving forward? [15:17] - Seek shares his favorite menu item. Mentioned in This Episode: Seven Brothers Burgers Website Seven Brothers Burgers Franchise Site
Incite Tax with Founder and CEO John Briggs
37:51Founder of Incite Tax and the author of Profit First For Microgyms, John Briggs has a theme: "The IRS Sucks". Business owners should keep more of their money to build long-term wealth. John joins the podcast today to share how he has built an amazing team of nontraditional accountants to help combat IRS bullying. John is a man on a mission to give entrepreneurs an actual work-life balance so they don’t get burned out. He helps them increase their cash immediately so they can have confidence in their choices and become financially resilient. Key Takeaways: [2:19] - John shares his background and why he founded Incite Tax. [3:40] - He is passionate about helping entrepreneurs stay in business. [4:41] - Not enough capital and mismanaging capital are the number one pain points for franchisees. [5:33] - The demand for something expands to match its supply. [7:23] - John shares a way to manage money through multiple types of accounts. [8:53] - The first step of the Profit First method is to do a cash flow analysis. [12:03] - It is never too late to start thinking about a cash flow system. Start now. [14:06] - John explains why gyms and fitness businesses are a niche for Incite Tax. [17:23] - Because they are so experienced with the business model, Incite Tax can see the challenges before they do. [20:18] - You can negotiate lease agreements. [22:45] - John explains the systems he has built that help people avoid burnout. [26:37] - When is it time to think about adding another location to a business? [30:16] - Think about how to maximize the space you are in. [35:02] - It’s not always the best idea to open a second location. Mentioned in This Episode: Profit First For Microgyms by John Briggs Incite Tax Home Page Incite Tax on Facebook Incite Tax on Instagram
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Happinest Brands with Eric Martin
33:40Happinest Brands has created a multi-brand platform with a focus on service concepts. Leveraging a strong leadership team, centralized systems, and over 55 years of franchising experience, they have a proven track record for lifting, growing, and developing franchises across the US and Canada. Happinest has a focus on mobile, low infrastructure, recurring revenue, high retention rate/membership-based models. Their brands are simple, straightforward, and scalable, focused on developing relationships with consumers who outsource home services. Happinest is building a portfolio of brands that cater to homeowners who don’t have the time or interest to do complete needed tasks around the home. They utilize centralized corporate marketing programs to drive interest and leads for franchise owners, along with a centralized in-house sales and conversion center to provide customers sales support for franchisees. There is a massive opportunity to capitalize on the home services market that is made up of mostly moms and pops, many of which struggle to provide on demand response, and service fulfillment, coupled with an excellent customer service experience. Eric Martin oversees the franchise development efforts for multi-brand home services franchisor Happinest Brands. He and his team are responsible for helping prospective franchise candidates determine if franchise ownership is the right path for them. The Happinest Brands development team, with its nearly 100 years of collective franchise sales experience, has helped Happinest and its franchises grow to over 850 nationwide franchise locations. Key Takeaways: [2:10] - Happinest all started with Lawn Doctor and now with multiple brands is pushing 1000 locations. [3:41] - Although covering several brands, Happinest provides a lot of centralized systems for franchisees. [4:42] - Eric shares his background in franchising. [6:37] - The main reason people decide to step into franchising is because they are dissatisfied or unfulfilled in their current career. [8:22] - The home services industry is valued at over $600 billion dollars. There are a lot of opportunities to create wealth. [11:40] - When thinking about a franchise, most people think of the food service industry first. Many don’t think about home services as an opportunity. [12:38] - At this time, franchise owners do not own multiple locations within Happinest. [16:56] - Eric explains the difference between a franchisee and an entrepreneur. [18:56] - The first couple of years for a franchisee are the most important for them to get things off the ground with the support of a franchisor. [20:48] - The service space gives franchisees an advantage. [22:14] - Costs are driven down with centralized systems. [24:28] - The initial investment for Happinest brands is low compared to other franchise brands. [28:07] - Eric lists some of the ways people have created quick capital to start a franchise. [30:34] - Undercapitalization is a challenge and Happinest Brands works hard on eliminating the problem up front. Mentioned in This Episode: Happinest on LinkedIn Happinest Home Page Lawn Doctor Franchise Site Mosquito Hunters Franchise Site Ecomaids Franchise Site Elite Window Cleaning Franchise Site
Franchise Fame with Founder and CEO Dani Peleva
28:28Franchise Fame is a multi-award winning global franchise marketing agency. Over the years they have been nominated and have won various awards such as the Best PR & Marketing Firm by the Global Franchise for 2022, Franchise Excellence Award and European Search Awards. They work with global franchise brands some of which count more than 3000 locations worldwide. They connect aspiring entrepreneurs with already successful brands and in this way create more decent work, economic growth and equal opportunities for everybody. Dani Peleva, the founder and CEO of Franchise Fame, joins us today. Dani led the marketing and branding teams of a global franchisor and later on became a franchisee herself, before founding her award-winning franchise marketing agency. Gaining invaluable experience and extensive knowledge of franchise marketing, both client and agency-side, Dani has worked with franchises from the UK, USA, Australia, Europe and South America, some of which have a presence in more than 2,600 locations worldwide. As a key person of influence in the sector, Dani has been featured in multiple media outlets and is often invited to talk about franchising and franchise marketing at conferences, events and podcasts. Key Takeaways: [2:44] - Dani shares her background and how her passion for marketing led her to her current endeavors. [4:08] - Initially, Dani invested in a franchise that allowed her to pay off student loan debt and put herself in the shoes of a franchisee. [6:03] - Marketing is very unique to every location and it's important for franchisees to understand their local market. [7:59] - Dani describes how Franchise Fame is approached by franchisors and franchisees alike. [9:42] - Franchisors are very busy and juggle a lot at once. Franchise Fame helps them market for franchise recruitment. [11:19] - Positive reviews are so important for any business, but especially a franchise. [13:30] - It is all about showing that you care. [14:48] - There are many business owners that do not have a strategy to protect their reputation. [16:57] - Dani shares that Franchise Fame is candid and honest with their clients, especially when it comes to their online reputation. [19:27] - Dani is the author of the book also called Franchise Fame. [21:16] - When you know your ideal client or customer, you will learn how to market to them. [24:40] - Personal branding and business branding are merging into one. Mentioned in This Episode: Franchise Fame Home Page Franchise Fame: An Insider’s Marketing Guide to Incremental Growth and Soaring Success for Franchisors by Dani Peleva
Athletic Republic with CEO Charlie Graves
41:31Charlie Graves was a world-ranked swimmer and successful professional triathlete before turning to a career in sports management, sports television and event production, and sport equipment manufacturing. He has been the CEO of Athletic Republic since 2007, when he acquired and rebranded the company, introducing new franchising, operations, business, and marketing systems now in use in a worldwide network of franchises. Athletic Republic is the world’s premier destination for individualized, sport-specific training. With technologically advanced equipment, Athletic Republic tracks and showcases the improvements an athlete experiences through their training regimen. The brand is the leading sports performance franchisor, with over 80 training centers and has surpassed two million athletes trained in the program. It is the premier destination for individualized, sport-specific training for athletes of all ages and abilities who seek to improve their speed, power, stability, agility and stamina. Key Takeaways: [2:25] - Charlie shares his background as an athlete before becoming a business owner. [3:53] - You have a hand in your success. [5:26] - Doing things that are within your control will improve your performance. [8:47] - There are a lot of cross overs in sports and business. [11:10] - Charlie became the head of marketing for a mall operator. This was the introduction to a franchise model for him. [12:36] - How did Charlie learn about the opportunity of Athletic Republic? [15:42] - The founder was a scientist. He tested and evaluated everything. [17:53] - Charlie made a lot of mistakes in the early years but learned through them and attended conferences and programs to improve and network. [20:08] - It wasn’t a franchise at first. Charlie lists some of the things they developed before jumping into launching a franchise model. [21:27] - The collaboration in franchising is extraordinary. [24:17] - An ideal franchisee is one that has passion for sports. [25:45] - Over half of the current franchisees are female. [27:56] - Charlie is in the business of opening successful operators. [30:15] - It’s important to care for franchisees that are making big investments. [31:19] - Rather than selling more units and having franchisees wait to get going, Athletic Republic takes their time with each franchise owner. [32:28] - What value does the franchisor provide to franchisees after they are established? [35:03] - Scaling in particular is something that needs to be considered and supported by franchisors. [36:42] - What role does celebration play in the Athletic Republic locations? Mentioned in This Episode: Athletic Republic Home Page Athletic Republic Franchise Site
Tootl Transport with Michelle Dacy and Steve Greenbaum
30:04Michelle Dacy has been in the special needs transportation segment for 20+ years. In 2012, she launched a non-emergency medical transportation business in Chicago to provide high-quality customer service to seniors and people with physical and cognitive challenges. Tootl provides an incredibly needed service for people of all ages and abilities. With a low investment, low overhead (no leases, retail locations, or equipment required) and excellent gross profit margins, Tootl stands out among other opportunities. Tootl is also backed by founders with over 20 years of experience and proven franchise leaders with nearly 30 years of experience building brands and serving the franchise community. Joining Michelle on today’s episode is Steve Greenbaum, a board member, advisor, and investor of Tootl Transport. He is a titan in the franchising industry and he shares his drive to support Tootl Transport. As far as competition, Tootl’s business model is unique to the franchise industry. At the client level, Tootl’s high level of customer service is above and beyond others in the non-emergency medical transportation industry. Key Takeaways: [2:30] - Michelle explains how she worked for a special needs transport service and branched out on her own. [3:40] - Any need for special transportation can be assisted by Tootl Transport. [6:01] - Multiple locations over a period of time is beneficial to prove the model. [7:40] - Transportation services have been around a while but the industry has transformed in the last decade with the use of technology. [9:43] - While transportation is the goal, the drivers are also trained to help the customer out of their home and into the vehicle. [10:57] - When Michelle began Tootl in Chicago, she knew that she had a model that could be duplicated. [12:27] - It’s important to know that you can’t do it all. You have to invest in people. [15:24] - Tootl is brand new to the franchise model. [18:50] - There is a huge population of ideal franchisees for the simple business Tootl offers. [20:31] - Personality wise, an ideal franchisee has a good heart. [22:12] - Steve explains what Tootl can provide and the needs their model can meet. [26:41] - Steve and Michelle describe their vision for Tootl in the coming years. Mentioned in This Episode: RideTool.com
CertaPro Painters with Michael Stone
31:13CertaPro Painters has been recognized as the #1 painting company franchise in North America by Entrepreneur Magazine as a part of its annual Franchise 500 ranking. Additionally, the brand has recently made the prestigious Franchise Business Review Top 200 list for franchisee satisfaction. These recognitions come at a time of steady growth for the brand, as it is projected to reach $1B in revenue by the end of 2023. CertaPro had a smooth finish to 2022, locking in four new territory signings, and rounding out the year with 25 existing location resales. With the painting industry being valued at $60B there is plenty of room for growth, and the brand is looking to sign 25 territory agreements in key markets across the United States and Canada this year. The service industry remains a strong sector in franchising, and CertaPro has a lasting and growing legacy in the category. Today’s guest is Michael Stone, President and CEO of CertaPro Painters. We chat about how CertaPro is dialed in on growing with new franchises and how the proven business model paired with a low initial investment can lead for a high return for its franchisee and the success of the locations that maintain its massive footprint. Key Takeaways: [1:57] - CertaPro has received very high accolades in the industry. [2:43] - Michael shares his background and how he got into the franchise world. [5:15] - There are a lot of different types of franchises. CertaPro is service-based. [6:41] - CertaPro isn’t looking for people driving a van around to paint. They have professional office spaces and are looking for leaders. [8:24] - Michael explains that the ideal operator isn’t necessarily in the painting industry, but they typically have good management and leadership backgrounds. [10:27] - CertaPro Painters is the largest painting company in the United States. [13:08] - Networking is important and service providers offer a lot of referrals. [14:50] - Michael describes the experience in completing virtual estimates and the system they created during Covid. [17:10] - CertaPro Painters has a great relationship with Sherwin Williams. [20:01] - When team members and franchisees are given the right tools, they will be able to build relationships with clients. [24:27] - CertaPro has a detailed process that ensures both the franchisee and client are satisfied. [28:05] - The industry has a lot of opportunities and CertaPro has a lot of franchising opportunities to build a business. [29:27] - Michael shares the goals for CertaPro Painters franchising for this year. Mentioned in This Episode: CertaPro Painters Website CertaPro Painters Franchise Site
Clean Eatz with Don and Evonne Varady
41:34Clean Eatz, which launched in 2011 and started franchising in 2015, was co-founded by husband-and-wife duo Don and Evonne Varady. They are heart-driven to “Change Livez” through clean, balanced food, thought-provoking education, and motivational support that inspires results. They know personal wellness is not one-size-fits-all, so they craft nutritional products and fitness opportunities that meet the needs of every type of lifestyle. Clean Eatz isn't a company, they are a community, and that is certainly something that sets them apart in the industry. Most think that they are just a cafe and sell food but they are in the business of changing “livez”! Key Takeaways: [2:19] - Don and Evonne are a husband and wife duo. They share their background and how they began this business. [4:40] - The idea came from Evonne’s passion for health and fitness. [6:22] - Clean Eatz began franchising in 2015 with the help of an investor. [9:14] - Don explains that Evonne came into his life at a fateful time. [11:13] - Don filed bankruptcy and started over. [12:19] - For about two years, Don and Evonne actually lived in the restaurant. [15:19] - They were broke when they moved and social media marketing wasn’t a luxury they had. Evonne describes some of the things they did to get the word out. [18:31] - Before launching Clean Eatz in North Carolina, the boundaries and roles were already set. [20:10] - Opening multiple locations hadn’t occurred to Don and Evonne until about 2 years in. [22:07] - Oftentimes, the founders are not the ones who initially consider franchising. [23:18] - Evonne describes the beginning of the franchise process and the learning curve she experienced. [25:17] - Franchising is all about investing in people. [27:39] - Culture is earned. [29:04] - Principle over convenience. [31:22] - It starts with the customer, and you need to get to know them. [34:03] - At the time of this podcast recording, there are 92 locations ready to get going. [35:06] - Don describes the ideal franchisees for Clean Eatz. [37:23] - Check your ego at the door and continue to be humble. Mentioned in This Episode: Clean Eatz Home Page Clean Eatz Franchise Site Clean Eatz Kitchen
Everbowl with Alex Yeater
29:34The Everbowl menu is centered on superfood packed bowls and smoothies highlighting acai, pitaya, matcha, blue majic, cacao and other "stuff that has been around forever™". It's fun, vibrant eateries invite diners to augment these superfoods with fruits, nuts, berries, and grains to create flavorful bowls to fuel their active lifestyles. In 2022, Alex partnered with Drew Brees to form EB Master, an Area Representative organization in the Everbowl system. They are signed up to bring over 150 stores to 13 states: North Carolina, South Carolina, Kentucky, Virginia, Alabama, Arkansas, Mississippi, Ohio, Indiana, Michigan, Tennessee, Louisiana, and Illinois. In today’s episode, learn about what sets Everbowl apart from the rest and how their aggressive expansion goals are going strong towards success. Key Takeaways: [2:36] - Alex’s original career path was in education but he realized he wouldn’t have the income he’d like to sustain the life he wanted so he went into business. [4:17] - Alex describes his experience and drive to bring acai to his town. [5:50] - What are the things to consider when choosing a brand to franchise? [8:32] - Everbowl has an aggressive expansion goal over the next four years. [10:41] - Alex explains how he connected with Drew Brees. [13:50] - One of the goals for Everbowl is to be connected with more athletes. [16:12] - What is Everbowl doing differently to attract franchise owners and customers? [20:21] - Alex describes the ideal retail spots for Everbowl. [22:13] - Owners that are really plugged in and involved in their community are ideal franchise owners for Everbowl. [24:44] - The menu at Everbowl is diverse and healthy. [28:01] - Connect with Alex on social media and find out more about Everbowl. Mentioned in This Episode: Everbowl Home Page Everbowl Franchise Site
Homefront Brands with CEO Jeff Dudan
29:08Jeff Dudan is the CEO of Homefront Brands, a platform of property service franchisors as well as Chairman of Dudan Group, the capital partner to Homefront Brands and others. Dudan Group invests capital, provides expertise, and offers services that enable people to join, buy, build, or expand franchise systems. Jeff is the author of Discernment; The Business Athletes Regimen for a Great Life through Better Decisions, a Forbes contributor, sought after speaker, and consultant to emerging franchise brands. Jeff served YPO as Chapter Chair of the Southern Sands Chapter, and IFA Franchisor Forum as a member. Jeff appeared on Season 8 of Undercover Boss in January 2017. His journey began as a college athlete who founded a business to paint student housing. After graduation, he assisted South Florida in recovering from Hurricane Andrew which led to the launch of AdvantaClean in 1994. With 240 locations, AdvantaClean became a national strategic partner with St. Jude Children’s Research Hospital and was acquired by Home Franchise Concepts January 2019. In this episode, Jeff talks about his journey, successes, and lessons learned along the way as well as how to learn more about Homefront Brands. Key Takeaways: [3:29] - You can have a variety of different experiences by meeting new people. Franchising gives you the opportunity to collaborate and learn from others. [4:26] - For some businesses and business owners, franchising isn’t right, but Jeff believes that it is the best way to build wealth and success. [6:37] - Creating the entrepreneurial framework within the confines of a franchise system can be challenging depending on the franchise brand. [9:00] - Jeff describes the beginning of his career after graduating college. [11:26] - We have points in our lives where we have to make big life-changing decisions. [13:31] - What are the deciding factors behind Homefront Brands? [16:22] - Territories in a brand are really important to get right. [18:52] - Jeff explains how they mapped out territories. [21:04] - There are several businesses under the umbrella of Homefront Brands and together they offer a wide variety of services. [22:38] - It is important to be a values-forward company. [23:55] - Jeff shares the most valuable change he made to his mindset and what his leadership style is. [27:10] - What is Jeff’s hope for Homefront Brands over the next few years? Mentioned in This Episode: Homefront Brands Website On the Homefront Podcast