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Study Hall: The Steps and Challenges of Franchising a Restaurant · Earn Your Leisure

• 0:00
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 0:03
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 0:07
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 0:11
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 0:15
  Speaker 1: some of the heinous migrant criminals caught because of President
• 0:19
  Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States
• 0:23
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 0:28
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 0:31
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 0:35
  Speaker 1: are here illegally, your next you will be fined nearly
• 0:39
  Speaker 1: one thousand dollars a day, imprisoned, and deported. You will
• 0:43
  Speaker 1: never return. But if you register using our CBP home
• 0:46
  Speaker 1: app and leave now, you could be allowed to return legally.
• 0:50
  Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,
• 0:55
  Speaker 1: border and families will be protected.
• 0:57
  Speaker 2: Sponsored by the United States Department of Homeland Security.
• 1:00
  Speaker 3: I was supposed to franchise a few years back, but
• 1:02
  Speaker 3: I held it because my gut wasn't there. I tell
• 1:05
  Speaker 3: people all the time, I choose my gut over my
• 1:08
  Speaker 3: heart and over my mind, because my gut ain't gonna
• 1:10
  Speaker 3: lie to me.
• 1:11
  Speaker 4: So I waited till it's my time.
• 1:13
  Speaker 3: Now when I'm seeing all these people acquiring you know,
• 1:17
  Speaker 3: whether it's Instagram or filling out applications about franchises, of course,
• 1:21
  Speaker 3: every day is in my mind like I could have
• 1:23
  Speaker 3: this mean ocation, I could be doing this, But you
• 1:25
  Speaker 3: also can grow too fast and destroy everything you worked
• 1:28
  Speaker 3: on too, and I'm not trying to do that.
• 1:29
  Speaker 4: Like if y'all notice, I'll never.
• 1:31
  Speaker 3: Put out my vuation and my viuation is crazy, but
• 1:34
  Speaker 3: I don't want the world to look at that right now.
• 1:36
  Speaker 4: I want you to see what I'm doing.
• 1:37
  Speaker 3: I can, you know, change a whole lot of minds
• 1:40
  Speaker 3: by you know, let my pr put out my viuation
• 1:43
  Speaker 3: and get a whole bunch of more opportunities that way.
• 1:45
  Speaker 4: But it ain't the way I'm doing it.
• 1:47
  Speaker 3: They gonna see me do it in a way where
• 1:49
  Speaker 3: it took me a little time to do it. But
• 1:50
  Speaker 3: I'm gonna do it the right way, and I'm gonna
• 1:51
  Speaker 3: climb through all the obstacles that I need to climb
• 1:53
  Speaker 3: through so I could.
• 1:53
  Speaker 4: Be here in the loan run. I ain't looking at
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  Speaker 4: no fronting.
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  Speaker 3: I just said this in another podcast, like when it
• 1:58
  Speaker 3: come to deals, A lot of deal I don't chase
• 2:00
  Speaker 3: the front end money.
• 2:01
  Speaker 4: I went to back end.
• 2:02
  Speaker 3: I don't want to be the guy that say, I
• 2:04
  Speaker 3: built a billion dollar company and where's my money at?
• 2:06
  Speaker 3: And the end you signed to that front end money,
• 2:08
  Speaker 3: that's your money. And for me, I'm chasing ownership and
• 2:12
  Speaker 3: I'm chasing the back end because the front end don't last.
• 2:14
  Speaker 5: So all right, talk about the franchise situation. Can you
• 2:20
  Speaker 5: walk us through that? How when did you decide that
• 2:22
  Speaker 5: you wanted the franchise and what was the steps to
• 2:25
  Speaker 5: actually get that up and running.
• 2:27
  Speaker 3: The steps took me, honestly about a year and a
• 2:30
  Speaker 3: half getting the FDD together. That's the Franchise Disclosure Document
• 2:36
  Speaker 3: For those who don't.
• 2:37
  Speaker 2: Know, it's like the plan flet.
• 2:39
  Speaker 3: Yeah, that's the that's the whole brains of what you
• 2:42
  Speaker 3: signing up to. And the most important thing that I've
• 2:45
  Speaker 3: learned and the FDD, one of the most important things
• 2:49
  Speaker 3: was the Item nineteen and that's your financials. That's everything
• 2:54
  Speaker 3: that you got going on. That's what people are gonna
• 2:56
  Speaker 3: look at when they want to buy into a franchise.
• 3:00
  Speaker 3: Excuse me, and I feel real strong about that, you know,
• 3:03
  Speaker 3: because I took the time and with my team and
• 3:06
  Speaker 3: we worked out all of the stuff that we need
• 3:08
  Speaker 3: to get out the kinks to make sure that our
• 3:09
  Speaker 3: bottom lines is good, our top lines is good. Just
• 3:13
  Speaker 3: like you know, I just broke the news on CNBC
• 3:16
  Speaker 3: and I put out my downtown NET locations.
• 3:19
  Speaker 4: That was NET. You know, that wasn't gross uves, that
• 3:21
  Speaker 4: was just NET. Yeah you know what I'm saying. That's
• 3:24
  Speaker 4: that two point three Yeah, that one of them. So
• 3:28
  Speaker 4: you know that was just my low flex like stop
• 3:30
  Speaker 4: playing with me. But nah.
• 3:31
  Speaker 3: But like this is the thing though, I wanted people
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  Speaker 3: to understand, like they seen me grinding, but now they
• 3:38
  Speaker 3: see me showing. It's a difference if you out here
• 3:40
  Speaker 3: chasing every day and nobody see you actually.
• 3:42
  Speaker 4: Elevating and chase.
• 3:43
  Speaker 3: Like every time I look at y'all, look at somebody
• 3:46
  Speaker 3: and I category we got, we got like this class
• 3:48
  Speaker 3: going on. How I look at it right, and how
• 3:50
  Speaker 3: I look at this class, Like when I see you know,
• 3:53
  Speaker 3: Troy and Rischade, or I see Pinky or I see Milano,
• 3:56
  Speaker 3: or I see anybody else that's doing what we're doing,
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  Speaker 3: it's somebody else talking about it.
• 4:00
  Speaker 4: Another level.
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  Speaker 3: They getting too, you know, and that's what that's what
• 4:02
  Speaker 3: turns me on from it. I don't care about the
• 4:04
  Speaker 3: money aspect. We all can make money, but how can
• 4:07
  Speaker 3: you get the opportunity to change lives? How many people
• 4:10
  Speaker 3: you're putting on through those opportunities? And that's what I
• 4:12
  Speaker 3: care about.
• 4:13
  Speaker 5: So is it open for front like people can.
• 4:22
  Speaker 6: Let's talk about this man, all right? So if somebody
• 4:24
  Speaker 6: wants to what's the process do we? I mean, number one,
• 4:27
  Speaker 6: we have to have the capital we got to go.
• 4:29
  Speaker 3: Yeah, so you got the financials and then once you
• 4:31
  Speaker 3: got the financials, uh, you fill out the paperwork, it
• 4:34
  Speaker 3: goes over to my broker. My broker uh sets up
• 4:38
  Speaker 3: a day where you come down, you see the facilities,
• 4:42
  Speaker 3: and then I get the last cad, you know, I
• 4:44
  Speaker 3: get to sit down with you and I feel the energy.
• 4:46
  Speaker 4: I told Pinky.
• 4:48
  Speaker 2: Ernest, what's up.
• 4:49
  Speaker 6: You ever walk into a small business and everything just
• 4:52
  Speaker 6: works like the checkout is fast, the receipts of digital
• 4:55
  Speaker 6: tipping is a breeze, and you're out the door before
• 4:58
  Speaker 6: the line even builds. Odds are they're using Square? We
• 5:03
  Speaker 6: love supporting businesses that run on Square because it just
• 5:05
  Speaker 6: feels seamless. Whether it's a local coffee shop, a vendor
• 5:08
  Speaker 6: at a pop up market, or even one of our
• 5:11
  Speaker 6: merch partners, Square makes it easy for them to take payments,
• 5:15
  Speaker 6: manage inventory, and run their business with confidence, all from
• 5:18
  Speaker 6: one simple system. If you're a business owner or even
• 5:22
  Speaker 6: just thinking about launching something soon, Square is hands down
• 5:25
  Speaker 6: one of the best tools out there to help you start,
• 5:28
  Speaker 6: run and grow. It's not just about payments, it's about
• 5:32
  Speaker 6: giving you time back so you can focus on what
• 5:34
  Speaker 6: matters most Ready. To see how Square can transform your business,
• 5:38
  Speaker 6: visit Square dot com backslash go backslash eyl to learn
• 5:43
  Speaker 6: more that Square dot com backslash, go backslash eyl. Don't wait,
• 5:48
  Speaker 6: don't hesitate. Let's Square handle the back end so you
• 5:51
  Speaker 6: can keep pushing your vision forward. This episode is brought
• 5:58
  Speaker 6: to you by P and C Bank. People think podcasts
• 6:01
  Speaker 6: about work are boring, and sure, they definitely can be,
• 6:05
  Speaker 6: but understanding a professionals routine shows us how they achieve
• 6:08
  Speaker 6: their success little by little, day after day. It's like
• 6:12
  Speaker 6: banking with P and C Bank. It might seem boring
• 6:15
  Speaker 6: to save, plan and make calculated decisions with your bank,
• 6:18
  Speaker 6: but keeping your money boring is what helps you live
• 6:21
  Speaker 6: a more happily fulfilled life. P and C Bank Brilliantly
• 6:25
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• 6:30
  Speaker 6: five is a service mark of the PNC Financial Service Group, Inc.
• 6:33
  Speaker 6: P and C Bank National Association Member FDIC.
• 6:38
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 6:42
  Speaker 1: in Massachusetts. An MS thirteen gang member from El Salvador
• 6:46
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 6:50
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 6:54
  Speaker 1: some of the heinous migrant criminals caught because of President
• 6:58
  Speaker 1: Donald J. Trump's leadership. I'm Christy Noman, the United States
• 7:02
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 7:07
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 7:10
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 7:13
  Speaker 1: are here illegally, you're next. You will be fine nearly
• 7:17
  Speaker 1: one thousand dollars a day, imprisoned and deported, you will
• 7:21
  Speaker 1: never return. But if you register using our CBP home
• 7:25
  Speaker 1: app and leave now, you could be allowed to return legally.
• 7:29
  Speaker 1: Do what's right. Leave now under President Trump, America's laws
• 7:34
  Speaker 1: border and families will be protected.
• 7:36
  Speaker 2: Sponsored by the United States Department of Homeland Security.
• 7:39
  Speaker 3: This is going to be a fun ride because you
• 7:41
  Speaker 3: know it ain't just like you know, I'm married, so
• 7:44
  Speaker 3: I believe in the decision she'd make. Also, so when
• 7:47
  Speaker 3: we sit down and we have dinner with these people
• 7:49
  Speaker 3: and I fill them out and she fill them out,
• 7:52
  Speaker 3: I feel like that's a blessing for me because I
• 7:55
  Speaker 3: ain't just making a decision by myself. I got somebody
• 7:57
  Speaker 3: else beside me that, you know, they can give me
• 8:00
  Speaker 3: good insight on it.
• 8:01
  Speaker 4: But more to the story is once.
• 8:03
  Speaker 3: They pass all the procedures they need to pass, I
• 8:06
  Speaker 3: get to sit with them and see if I want
• 8:08
  Speaker 3: to move forward.
• 8:09
  Speaker 6: So, I mean, that's a good point you got. Obviously
• 8:13
  Speaker 6: you're married. Congratulations on that. We've seen her brand grow
• 8:17
  Speaker 6: and move to locations. Do you use that as a
• 8:21
  Speaker 6: metric to see if the location is suitable for your
• 8:24
  Speaker 6: brand as well? So when you move to Charlotte, there
• 8:27
  Speaker 6: might be a vegan stuy that tells me that there's
• 8:30
  Speaker 6: a community here that that needs to That's.
• 8:32
  Speaker 4: What we do, though, honestly, we use each other like
• 8:35
  Speaker 4: guinea pigs.
• 8:37
  Speaker 3: We do, like right now, franchising who knows she might
• 8:39
  Speaker 3: be franchising, who knows it don't. I mean, but sometimes
• 8:42
  Speaker 3: we might take the jump first and then we fill
• 8:44
  Speaker 3: it out. Like she went out of state before I
• 8:46
  Speaker 3: went out of state, so I already knew the things
• 8:48
  Speaker 3: that I got to work on out of.
• 8:49
  Speaker 4: State before I go out of state.
• 8:51
  Speaker 2: Watching it happen.
• 8:51
  Speaker 3: Yeah, because I watch it happen. But again, you know,
• 8:54
  Speaker 3: even though like if it's a study Vegan or it's
• 8:57
  Speaker 3: a big Daves, no matter who opened them in the
• 9:00
  Speaker 3: situation together. So it's like when we climbing through these openings,
• 9:03
  Speaker 3: it's just like you know, as if I'm opening another location,
• 9:06
  Speaker 3: or it's things that I got to kink out, and
• 9:07
  Speaker 3: I say, oh, you know what, I got to do
• 9:09
  Speaker 3: that differently because in my brand, that's not gonna work
• 9:12
  Speaker 3: because it's two different brands. But the good thing that
• 9:15
  Speaker 3: we able to piggyback off each other with is that
• 9:17
  Speaker 3: we got the traffic. We can look at the numbers
• 9:19
  Speaker 3: and we can we can, you know, look at each
• 9:22
  Speaker 3: other selves and say, okay, you down or you up,
• 9:25
  Speaker 3: and we both and we both are down.
• 9:27
  Speaker 4: We know it's the market and we both up.
• 9:29
  Speaker 3: It's never you up, you down like And that's the
• 9:31
  Speaker 3: good thing with us is that the demographics that we have,
• 9:34
  Speaker 3: we have strong customers. Like you know, the market right
• 9:37
  Speaker 3: there now is terrible in the restaurants. It's not the
• 9:40
  Speaker 3: restaurants all the way around. And I'm doing I'm doing
• 9:44
  Speaker 3: better than a lot of the market, of not ninety
• 9:46
  Speaker 3: percent of it.
• 9:47
  Speaker 2: What allows you to do better? Is it how you're pricing?
• 9:51
  Speaker 2: Is it?
• 9:51
  Speaker 6: You know, how you're looking at the bottom line, like,
• 9:54
  Speaker 6: what allows you to stay at ahead of not the competitors,
• 9:57
  Speaker 6: but the industry.
• 9:59
  Speaker 3: To be honest, I think right now, it got to
• 10:02
  Speaker 3: have some attachment to it. It got to be tangible. So
• 10:05
  Speaker 3: again my story I feel like, you know, a lot
• 10:07
  Speaker 3: of people been paying attention to so long.
• 10:09
  Speaker 4: But the one thing I.
• 10:10
  Speaker 3: Think that really helps me out a lot is that
• 10:13
  Speaker 3: when economy crashed, when when the COVID hit, everybody they
• 10:18
  Speaker 3: try to figure.
• 10:18
  Speaker 4: Out what they was going to do. Some of them
• 10:20
  Speaker 4: ran off on the employees, some businesses closed. I stood up.
• 10:24
  Speaker 3: It's just like if somebody telling you something and you like,
• 10:27
  Speaker 3: I'm gonna be there.
• 10:28
  Speaker 4: I'm an do what I need to do, and then
• 10:29
  Speaker 4: it happened you don't be there. I was there.
• 10:31
  Speaker 3: I was feeding customers. I fed over a thousand customers
• 10:35
  Speaker 3: that week of the pandemic. Federal with forty hospitals that month.
• 10:38
  Speaker 3: We don't even know what COVID is at the time,
• 10:40
  Speaker 3: I'm walking in the hospital, you know, facilities just like
• 10:43
  Speaker 3: the doctors and the nurses is feeding them. And I
• 10:46
  Speaker 3: think I showed the community so much of my philanthropy,
• 10:50
  Speaker 3: my my community involvement, my.
• 10:51
  Speaker 4: Gearback, or what I cared about.
• 10:53
  Speaker 3: I think that that now shows the people that they
• 10:56
  Speaker 3: want me here for the long haul. They respect it,
• 10:58
  Speaker 3: they honor it. They see what I was saying for, and
• 11:00
  Speaker 3: they keeping me here along the way. And it's only
• 11:02
  Speaker 3: a blessing for me, because honestly, sometimes I could be
• 11:05
  Speaker 3: talking to a restaurant guy and they might tell me, Man,
• 11:09
  Speaker 3: you know, I'm down.
• 11:10
  Speaker 4: It's the worst time of the year for me. I
• 11:12
  Speaker 4: don't know how'm gonna.
• 11:13
  Speaker 3: Survive, and I'm opening locations left and right. So it's like,
• 11:16
  Speaker 3: you know, I can't. I can't, you know, cope and
• 11:19
  Speaker 3: say I know how to feel because I'm in a
• 11:21
  Speaker 3: different space right now. But I can tell you what
• 11:24
  Speaker 3: I know how I feel is trying to get there.
• 11:26
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 11:29
  Speaker 1: in Massachusetts. An MS thirteen gang member from El Salvador
• 11:33
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 11:38
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 11:42
  Speaker 1: some of the heinous migrant criminals caught because of President
• 11:45
  Speaker 1: Donald J. Trump's leadership. I'm Christinoman, the United States Secretary
• 11:50
  Speaker 1: of Homeland Security. Under President Trump, attempted illegal border crossings
• 11:54
  Speaker 1: are at the lowest levels ever recorded, and over one
• 11:58
  Speaker 1: hundred thousand illegal aliens have been arrested. If you are
• 12:01
  Speaker 1: here illegally, your next you will be fine nearly one
• 12:05
  Speaker 1: thousand dollars a day, imprisoned and deported, you will never return.
• 12:10
  Speaker 1: But if you register using our CBP home app and
• 12:13
  Speaker 1: leave now, you could be allowed to return legally. Do
• 12:16
  Speaker 1: what's right. Leave now. Under President Trump, America's laws, border
• 12:22
  Speaker 1: and families will be protected.
• 12:24
  Speaker 2: Sponsored by the United States Department of Homeland Security,