Latest / Earn Your Leisure / EYL #37 The Boss

Transcript

EYL #37 The Boss · Earn Your Leisure

• 0:04
  Speaker 1: Hey, I'm Tatiana Manning. I support our Voice of a
• 0:06
  Speaker 1: Customer team at Pgenie. If you're a small business customer,
• 0:10
  Speaker 1: we're here to support you. That's why I want to
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  Speaker 1: tell you about our new podcast, Real Talk with PGENI.
• 0:16
  Speaker 1: We know small businesses are dealing with rising costs and
• 0:19
  Speaker 1: looking for ways to boost their bottom line. On our show,
• 0:22
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• 0:25
  Speaker 1: Engagement team, who will show you effective ways to improve
• 0:27
  Speaker 1: your operations, find important resources, and most of all, save money.
• 0:32
  Speaker 2: I ride the RAND analysis for the Emergency Food Bank
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  Speaker 2: and based on their usage history, by just making a
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  Speaker 2: simple rate change at no costs, it was a twenty
• 0:43
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• 0:46
  Speaker 1: So listen to Real Talk with Pgenie and find more
• 0:49
  Speaker 1: resources for your business by visiting pge dot com for
• 0:52
  Speaker 1: slash real Talk.
• 1:00
  Speaker 3: All right, guys, welcome back to EYL episode thirty seven.
• 1:05
  Speaker 4: Thirty seven in the books.
• 1:06
  Speaker 3: Yes, yes, So before we start, we have some very
• 1:08
  Speaker 3: exciting news. You know that we are on tour right
• 1:12
  Speaker 3: now and we go into all of our major markets
• 1:15
  Speaker 3: all over the country. So we started in lahout out
• 1:18
  Speaker 3: to La then we went to Brooklyn and then we
• 1:21
  Speaker 3: went to Atlanta.
• 1:22
  Speaker 5: That was our most recent stop was Houston.
• 1:24
  Speaker 4: The craziest of them out to Houston.
• 1:26
  Speaker 3: Texas for sure. So next up we are headed to
• 1:30
  Speaker 3: the windy city town Chicago going on. Now we coming,
• 1:33
  Speaker 3: We're coming, so yeah, nine twenty six. We are coming
• 1:37
  Speaker 3: very shortly, nine twenty six. So go to our website,
• 1:41
  Speaker 3: go to the events tab and register. It's a free
• 1:44
  Speaker 3: network meet and greet. Once again, the purpose of the
• 1:46
  Speaker 3: network in meet and Greek is not a seminar, it's
• 1:48
  Speaker 3: not a workshop. It is an opportunity for you to
• 1:53
  Speaker 3: build with us, but more importantly, build with each other.
• 1:54
  Speaker 3: We're gonna bring the whole city out and yeah, you're
• 1:58
  Speaker 3: gonna be able to network and you know, pitch your
• 2:00
  Speaker 3: business ideas and meets your real estate partner.
• 2:03
  Speaker 4: All forms of business come. Yeah.
• 2:05
  Speaker 6: It's really for you to network with people who live
• 2:07
  Speaker 6: in the same place as you, right, there really is
• 2:09
  Speaker 6: no platform for that. So network and when we leave,
• 2:12
  Speaker 6: you still have those connections.
• 2:14
  Speaker 3: It's a vibe, it's a whole it's a whole, entire vibe.
• 2:17
  Speaker 3: But okay, so yeah, Chicago, come out. We have a
• 2:21
  Speaker 3: very exciting episode. Something I'm actually exciting about. I'm always
• 2:25
  Speaker 3: excited about episodes, but this is something that I'm actually
• 2:28
  Speaker 3: looking forward to.
• 2:29
  Speaker 4: Because it's very rare. We get somebody that's the first.
• 2:31
  Speaker 6: Of something or the biggest as something.
• 2:35
  Speaker 4: This is this is this is tough.
• 2:37
  Speaker 3: Yeah, for sure, for sure, sure sure. So we got
• 2:41
  Speaker 3: Kika Wise and she is a legend in her own
• 2:46
  Speaker 3: right because she is the youngest female franchise or in America.
• 2:53
  Speaker 4: Right, don't let that go over your head.
• 2:56
  Speaker 3: So if you don't know what a franchise or is
• 2:59
  Speaker 3: a franchise as a franchise owner but not a franchise e.
• 3:03
  Speaker 3: This is what most people think about franchise business. I
• 3:05
  Speaker 3: think about a franchise e. Franchise e is to say, okay,
• 3:08
  Speaker 3: Subways is a chain. I buy a Subway. Now I'm
• 3:11
  Speaker 3: a franchise e Subway, I'm an owner. But off of subway,
• 3:16
  Speaker 3: Subway is the larger company, right, So the flip side
• 3:20
  Speaker 3: of that coin is to be a franchise or pronounce
• 3:23
  Speaker 3: it correctly. And that's when you actually own the subway
• 3:27
  Speaker 3: and then people are coming under your umbrella and they're
• 3:32
  Speaker 3: buying their franchises from you. You've created the print and
• 3:35
  Speaker 3: now they're right we people have been asking for the franchise,
• 3:40
  Speaker 3: and he was like, okay, we can get like a
• 3:42
  Speaker 3: subway owner or something like that.
• 3:43
  Speaker 5: But we figured why not just get the apple sauce from.
• 3:47
  Speaker 3: The apple orchard and go straight to the sauce, cut
• 3:51
  Speaker 3: out all the middle man, and you should too. So
• 3:57
  Speaker 3: so yes, so, first and foremost.
• 3:59
  Speaker 7: Thank you, thank you, thank you for having me.
• 4:02
  Speaker 3: Yes, so, I'll give a quick rundown. So, yes, Kika
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  Speaker 3: has her own studio. It's it's called it's a stretch studio,
• 4:09
  Speaker 3: which is different. We'll talk about. It's not yoga, it's
• 4:12
  Speaker 3: not pilates. It's something completely different. And she started in
• 4:15
  Speaker 3: New Jersey and it became massively successful. So when she
• 4:19
  Speaker 3: was thinking about expanding, she thought about, you know, different
• 4:23
  Speaker 3: ways to expand, and she settled on the idea of
• 4:26
  Speaker 3: just opening different franchises. And where she's at now is
• 4:31
  Speaker 3: to have twelve franchises all over America and the goal
• 4:34
  Speaker 3: is to have sixty five in a very short period
• 4:36
  Speaker 3: of time. So okay, now we got that out the way,
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  Speaker 3: So can you give us the backstory on how the studio,
• 4:44
  Speaker 3: how the stretch studio got started.
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  Speaker 7: Yes, so thank you again. Basically, I.
• 4:52
  Speaker 8: Was going to go back to school to get a
• 4:54
  Speaker 8: master's or open up my own business because I had
• 4:58
  Speaker 8: a young son at the time. So I took a
• 5:01
  Speaker 8: poll with friends and family should I go back to
• 5:04
  Speaker 8: school or should I open a business? And everyone said,
• 5:08
  Speaker 8: you'll fail. Don't open a business. Most businesses fail, you know.
• 5:12
  Speaker 7: Three five.
• 5:13
  Speaker 4: I've never listened to this, So I.
• 5:14
  Speaker 8: Was like, great, then that's the direction I'm going in
• 5:17
  Speaker 8: because nobody else they're all afraid to. So I decided
• 5:21
  Speaker 8: to go with that. So I took my last literally
• 5:25
  Speaker 8: five hundred dollars, and I rented a small room and
• 5:29
  Speaker 8: I printed out some brochures and I just ran with
• 5:33
  Speaker 8: the idea of stretching people.
• 5:35
  Speaker 4: Can we talk about the five hundred dollars?
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  Speaker 7: Sure?
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  Speaker 6: Yeah, because like it wasn't just five hundred, and especially
• 5:40
  Speaker 6: in our community, like we get a tax return and
• 5:43
  Speaker 6: the first thing we think is like, what can we buy?
• 5:46
  Speaker 6: What trip are we going on off this? You got
• 5:48
  Speaker 6: your tax return was the five hundred dollars?
• 5:51
  Speaker 4: Yes, and you decided I'm start a business, right, this is.
• 5:53
  Speaker 8: The only chance I have. So yeah, I took it,
• 5:57
  Speaker 8: and I started the business from there, one client at
• 6:02
  Speaker 8: a time. I built my clientele, and it slowly became
• 6:06
  Speaker 8: a business before my eyes. I studied guerrilla marketing for
• 6:10
  Speaker 8: the first year in business. I read several books on
• 6:14
  Speaker 8: how to market with no dollars, creative ways to get clients,
• 6:19
  Speaker 8: and then it started working and I just grew my clientele.
• 6:22
  Speaker 3: So where did you start? So you had the five
• 6:24
  Speaker 3: hundred dollars? You had the idea for stretching first of all,
• 6:27
  Speaker 3: before we even how did so?
• 6:28
  Speaker 9: All?
• 6:29
  Speaker 5: Right, what's your background.
• 6:30
  Speaker 7: As far as to stretch like people?
• 6:33
  Speaker 5: How did that? I?
• 6:35
  Speaker 4: So?
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  Speaker 8: I studied at Montclair State University as a dance major.
• 6:40
  Speaker 8: So I was a professional dancer. I danced in the
• 6:42
  Speaker 8: city television film for years. Being an undergrad, we had
• 6:48
  Speaker 8: to take several anatomy courses that were extremely boring, but
• 6:52
  Speaker 8: I took them anyway had to, And so I took
• 6:55
  Speaker 8: the knowledge that I gained as an undergrad to put
• 6:58
  Speaker 8: towards this concept so it would be a real thing.
• 7:01
  Speaker 3: So okay, what makes okay? So what is your process
• 7:05
  Speaker 3: as far as stretching.
• 7:07
  Speaker 4: It's typical stretching, passive stretching.
• 7:10
  Speaker 8: Right, So, as a dancer, we all know that dancers
• 7:13
  Speaker 8: are the most flexible people. Dancers use gravity to gain flexibility.
• 7:19
  Speaker 8: So essentially I replaced gravity with a stretch coach, which
• 7:24
  Speaker 8: is the coach that you have that gives you the session.
• 7:27
  Speaker 8: So it's based on the dancers approach to stretching the movements,
• 7:31
  Speaker 8: and the coach gently follows the breath pattern of the
• 7:34
  Speaker 8: client to add the stretch. The client's completely limp, they're
• 7:39
  Speaker 8: not holding any muscle groups, so they the endorphins flow
• 7:43
  Speaker 8: through the body differently, so it's a whole experience. We're
• 7:46
  Speaker 8: the only studio that follows this process.
• 7:49
  Speaker 6: And that's the biggest difference between yoga and pilates, right,
• 7:51
  Speaker 6: that's when muscles are.
• 7:52
  Speaker 8: Being you're in your muscles are engaged in yoga and pilates,
• 7:56
  Speaker 8: they're disengaged when you come to our studio. Most people
• 7:59
  Speaker 8: never truly relax and let go, not even in bed.
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  Speaker 8: Some of my clients tell me they sleep like this
• 8:07
  Speaker 8: balled up, and I'm like, really, can I just applaud you?
• 8:10
  Speaker 6: Like I studied physical education and health science major to
• 8:15
  Speaker 6: go through anatomy and to go through advanced anatomy and
• 8:18
  Speaker 6: to go through physics and still pursue applaud.
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  Speaker 3: It's a real thing. As far as a lot of
• 8:28
  Speaker 3: times people, especially men, especially if you lift weights and
• 8:30
  Speaker 3: stuff like, you're very unflexible and that could lead to
• 8:33
  Speaker 3: a lot of problems. Like I used to I used
• 8:35
  Speaker 3: to play basketball and I went to prep school and
• 8:38
  Speaker 3: that's the first time I got introduced to yoga. Okay,
• 8:40
  Speaker 3: and it was one of the best things that I
• 8:43
  Speaker 3: ever did. Because so I was in a yoga class
• 8:46
  Speaker 3: and I was like the only male. It's like two males,
• 8:48
  Speaker 3: and it was everybody else was like tennis players. I
• 8:50
  Speaker 3: was in there with Maria Shavapova. That's a different story,
• 8:53
  Speaker 3: but anything, yeah, but anything, So you know, it's it's
• 8:58
  Speaker 3: kind of like a little weird. I'm like eighteen years
• 9:00
  Speaker 3: is all in a yoga class. But I realized that
• 9:02
  Speaker 3: once I started to really become more flexible, everything became better.
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  Speaker 3: People don't think people fully understand how the body works.
• 9:10
  Speaker 3: But when you actually are more flexible, you can move better,
• 9:15
  Speaker 3: you can rent better, you're quicker, you're on your feet,
• 9:17
  Speaker 3: you lose weight.
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  Speaker 5: Also, it's a whole it's a whole vibe.
• 9:20
  Speaker 7: Yes, it is all right.
• 9:21
  Speaker 3: So you have the five hundred and you have the
• 9:24
  Speaker 3: background in dancing and stretching and all that, So what
• 9:28
  Speaker 3: what's the first step that you take for the five hundred,
• 9:31
  Speaker 3: you're in a room out or so.
• 9:33
  Speaker 8: I went on craigs List. Great when craigs List was
• 9:39
  Speaker 8: you know, a different qriigs List, and I found someone
• 9:44
  Speaker 8: renting a room. It was actually a real estate agent
• 9:48
  Speaker 8: who wanted to share his space. So my rent was
• 9:51
  Speaker 8: three hundred dollars. He paid the other half or two hundred,
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  Speaker 8: and I took the rest of the money and I
• 9:58
  Speaker 8: printed out Bruce Sure those brochures.
• 10:01
  Speaker 7: I passed out in the street.
• 10:03
  Speaker 8: I used to stand outside this space and just pass
• 10:05
  Speaker 8: out brochures like stretching mont clear.
• 10:08
  Speaker 7: Right, you have is this?
• 10:10
  Speaker 4: I read this right, so you know what's coming?
• 10:13
  Speaker 6: Yes, because we're eighties babies, right, And we grew up
• 10:16
  Speaker 6: with this character, this green character called Gumby. Yes, And
• 10:19
  Speaker 6: I read that you had a Gumby characters standing outside
• 10:23
  Speaker 6: yes with you.
• 10:24
  Speaker 8: I went on Amazon. I ordered a Gumby costume. Oh no,
• 10:29
  Speaker 8: oh no, I was never the gun Yeah. I had
• 10:32
  Speaker 8: to maintain some far so I hired someone to wear
• 10:36
  Speaker 8: the Gumby costume and pass out brochures while stretching down
• 10:41
  Speaker 8: the street marketing.
• 10:44
  Speaker 5: So how quick did it grow?
• 10:47
  Speaker 8: So as far as so when I sold my first package,
• 10:51
  Speaker 8: I made my money back page. No, it was I
• 10:55
  Speaker 8: think it was like six fifty at the time. Yeah,
• 10:57
  Speaker 8: of ten ten sessions. So in the beginning it took
• 11:01
  Speaker 8: about a year to develop a baseline of clientele. At
• 11:07
  Speaker 8: the time, I had a part time job. I was
• 11:09
  Speaker 8: selling furniture, and once I started making more than my paychecks,
• 11:13
  Speaker 8: that's when I completely quit.
• 11:15
  Speaker 7: So it took about a year for that to happen.
• 11:17
  Speaker 3: So all right, so at what point do you move
• 11:18
  Speaker 3: out of the room, And at one point you had
• 11:21
  Speaker 3: the studio, right, yes.
• 11:22
  Speaker 8: So the real estate agent would not renew my lease
• 11:26
  Speaker 8: because he said I was using the space too much.
• 11:29
  Speaker 8: I guess he thought, here's this crazy girl with an idea.
• 11:32
  Speaker 8: I just want somebody to help me pay my rent.
• 11:35
  Speaker 8: But I actually built a business.
• 11:36
  Speaker 5: Out of it.
• 11:38
  Speaker 8: No, it was in an office like an office suite,
• 11:41
  Speaker 8: and so I was forced to find another space. The
• 11:46
  Speaker 8: next space was in the basement of a Turkish restaurant,
• 11:52
  Speaker 8: which I thought was dope because it's bigger, like I
• 11:55
  Speaker 8: have my own space. But in the summer you would
• 11:57
  Speaker 8: smell curry and onions coming through the event. That's right,
• 12:03
  Speaker 8: But it was paradise for me. So that's that's actually
• 12:06
  Speaker 8: where I built the business into a six figure business
• 12:08
  Speaker 8: in the basement of a restaurant. So that's when I
• 12:11
  Speaker 8: knew I was onto something.
• 12:12
  Speaker 6: I mean, this, the health and wellness space is a
• 12:15
  Speaker 6: trillion dollar business. I think they were reporting four point
• 12:17
  Speaker 6: seven billion trillion, not billion.
• 12:19
  Speaker 7: It's trillion now trillion dollar business.
• 12:22
  Speaker 4: Did you know that going into it? And we just
• 12:24
  Speaker 4: said I'm just doing something.
• 12:25
  Speaker 5: You followed your passion past.
• 12:28
  Speaker 8: It, and so my passion was always people and making
• 12:30
  Speaker 8: people feel good through conversation, you know, just vibes, right,
• 12:36
  Speaker 8: But my passion was never My passion was stretching, but
• 12:38
  Speaker 8: my passion was never business. I never wanted to be
• 12:42
  Speaker 8: an entrepreneur because I didn't want to fail.
• 12:45
  Speaker 7: I equated failing with entrepreneurship, so I avoided it.
• 12:50
  Speaker 8: But my son was the reason I got into it,
• 12:54
  Speaker 8: so that I could spend time with him and be
• 12:56
  Speaker 8: there for his work life balance, right, So then I
• 12:59
  Speaker 8: started to fall in love with it.
• 13:00
  Speaker 5: So all right, so then at what point do you
• 13:01
  Speaker 5: get your own studio?
• 13:03
  Speaker 8: So after I built the business in the basement of
• 13:06
  Speaker 8: the rest turns restaurant, right, and I saw people were
• 13:10
  Speaker 8: still coming even though it smelled like curry. I knew
• 13:14
  Speaker 8: that I could potentially gain more clientele and cover the
• 13:18
  Speaker 8: costs of a storefront. So I took another leap of
• 13:21
  Speaker 8: faith and I rented the store for how much was
• 13:24
  Speaker 8: your store front rent at.
• 13:25
  Speaker 7: The time, it was twenty four hundred month.
• 13:30
  Speaker 3: A little off topic is that courage is something that
• 13:32
  Speaker 3: every everybody uses, like Jamaicans, Indians.
• 13:35
  Speaker 4: Why are you doing that?
• 13:36
  Speaker 7: I know I'm getting hungry choice you.
• 13:39
  Speaker 4: Know, yeah, is an Indian.
• 13:42
  Speaker 5: It's like a universal spice in West.
• 13:45
  Speaker 4: Indian and Indian cultures for sure.
• 13:47
  Speaker 5: Okay, yo, my curry goal, you don't at all.
• 13:52
  Speaker 6: So those yeah, I don't know which is a member
• 13:55
  Speaker 6: of the family. So he gets to play.
• 13:57
  Speaker 4: At my house.
• 13:57
  Speaker 3: I'm a pescatarian and now I want my way to
• 13:59
  Speaker 3: be coming vegan nice, So we putting all the animals down.
• 14:02
  Speaker 5: But I don't judge.
• 14:04
  Speaker 3: I don't judge, all right, Okay, so you have the
• 14:07
  Speaker 3: studio and then business starts to just really take off
• 14:10
  Speaker 3: for you at that point, right, yes, And then okay,
• 14:13
  Speaker 3: so when you hit your stride, at what point did
• 14:15
  Speaker 3: you really start to hit your stride where it's like, okay,
• 14:17
  Speaker 3: this is this is something else.
• 14:19
  Speaker 8: Right, So after a few years I was able to
• 14:23
  Speaker 8: get a New York Times article.
• 14:26
  Speaker 7: Future story through Google.
• 14:31
  Speaker 8: One of the reporters found me online and decided to
• 14:36
  Speaker 8: do a story.
• 14:38
  Speaker 5: You said you had the s c O se O.
• 14:40
  Speaker 5: You mastered that, right? Can you explain?
• 14:44
  Speaker 8: The SEO stands for Search engine optimization, So you find
• 14:49
  Speaker 8: keywords that you highlight, you pay for so that your
• 14:53
  Speaker 8: results show up fast on Google. So, being that no
• 14:57
  Speaker 8: one was looking for stretching at the time, I had
• 15:00
  Speaker 8: to pay for words like gem yoga, massage, and so
• 15:05
  Speaker 8: when people would look for that, we would pop up
• 15:08
  Speaker 8: and they're like, oh, what's this. So that's kind of
• 15:10
  Speaker 8: how we started to develop a following.
• 15:13
  Speaker 4: How did you find?
• 15:14
  Speaker 5: Like how much did that cost?
• 15:16
  Speaker 8: It was three hundred dollars like a company, a company company,
• 15:22
  Speaker 8: town Square Interactive.
• 15:24
  Speaker 3: So that so that's really that really works because I've
• 15:27
  Speaker 3: seen that before and people.
• 15:28
  Speaker 7: I still do it? You still do it? It? Really?
• 15:31
  Speaker 7: I'll never say yeah, same price.
• 15:34
  Speaker 3: So what's the what what I'm just thinking, like, what's
• 15:36
  Speaker 3: the key, Like, what's the key to find words that
• 15:39
  Speaker 3: it's not because obviously it's like very popular words is
• 15:43
  Speaker 3: like you know, it's probably a million people using that
• 15:45
  Speaker 3: same word, right, is it to find words that aren't
• 15:49
  Speaker 3: really so.
• 15:51
  Speaker 8: Believe it or not, most small business owners don't use
• 15:55
  Speaker 8: SEO as a tool, So even though you may be
• 15:59
  Speaker 8: looking using the gym, most gyms are not using it.
• 16:02
  Speaker 7: So it will highlight in your area.
• 16:06
  Speaker 8: And being that we essentially started the assisted stretching movement,
• 16:10
  Speaker 8: we were able to build our SEO campaign for years
• 16:14
  Speaker 8: before anyone else tried to start using it. So we're
• 16:16
  Speaker 8: like on the top.
• 16:17
  Speaker 7: Like, oh, you already ahead of the race, right ahead
• 16:20
  Speaker 7: of the race.
• 16:20
  Speaker 8: But anyone can still benefit from it. You just have
• 16:24
  Speaker 8: to incorporate those words throughout your entire website.
• 16:27
  Speaker 4: You'll still show up marketing.
• 16:30
  Speaker 3: Yeah, all right, So you have the studio in business
• 16:32
  Speaker 3: is booming, but then you have a fire, right, yes,
• 16:35
  Speaker 3: all right, the studio burns down and you have to
• 16:39
  Speaker 3: go into the basement of a church.
• 16:40
  Speaker 6: Yes, but that was a moment for you where you realize,
• 16:44
  Speaker 6: you know what this isn't about me? Right, there was
• 16:46
  Speaker 6: a gentleman that was sitting next to you.
• 16:49
  Speaker 8: There was a gentleman standing next to me. And as
• 16:52
  Speaker 8: the well, the flames were gone, as the smoke is
• 16:55
  Speaker 8: subsiding He's like, I just bought a ten pack of
• 16:59
  Speaker 8: stretching sash and all he cared about was his investment.
• 17:03
  Speaker 8: But at that because in my head, I was like,
• 17:05
  Speaker 8: oh it burnt down.
• 17:06
  Speaker 7: I'm done.
• 17:07
  Speaker 8: I'm just gonna, you know, chill, forget being an entrepreneur.
• 17:11
  Speaker 8: I'm done, you know, move to Hawaii, do something else.
• 17:14
  Speaker 8: And at that moment, I was like, Wow, I have
• 17:16
  Speaker 8: clients and I have employees. I can't just shut down.
• 17:20
  Speaker 8: So at that moment, I knew this was bigger than
• 17:23
  Speaker 8: just me. So it motivated me on a different level.
• 17:26
  Speaker 8: And that's actually when The New York Times reached out
• 17:28
  Speaker 8: to us when we were in the basement of the church.
• 17:31
  Speaker 8: It's funny how life happened.
• 17:35
  Speaker 5: God's work, all right.
• 17:38
  Speaker 3: So okay, so you told us off cam about a
• 17:41
  Speaker 3: book that changed your life, and then you fired yourself.
• 17:44
  Speaker 3: The best thing you did was fire yes, yes, all right?
• 17:46
  Speaker 3: What does that mean to fire yourself? And how did
• 17:48
  Speaker 3: that help you see the bigger picture?
• 17:51
  Speaker 8: So it's called the E myth revisited like the letter E,
• 17:55
  Speaker 8: and it teaches you how to fire yourself from the
• 17:58
  Speaker 8: things that you do not enjoy doing in your business
• 18:01
  Speaker 8: so that you can be the creative force behind it
• 18:04
  Speaker 8: and not lose you know, your light. Essentially, a lot
• 18:07
  Speaker 8: of entrepreneurs get burned out because they try to do
• 18:11
  Speaker 8: everything themselves and they're afraid to delegate because they don't
• 18:14
  Speaker 8: trust people. So I basically read the book and I
• 18:19
  Speaker 8: forced myself to do everything that is said chapter by chapter,
• 18:24
  Speaker 8: and my business started making more money as I fired
• 18:28
  Speaker 8: myself because I would be stretching people, answering the phones,
• 18:32
  Speaker 8: opening the door all at the same time, stretching people.
• 18:36
  Speaker 8: And I see an email comes in, I would love
• 18:38
  Speaker 8: to open it, but I can't because I'm stretching some
• 18:41
  Speaker 8: So I just did it and it worked.
• 18:44
  Speaker 6: But it had dual benefits, right because as you fired
• 18:46
  Speaker 6: yourself right and had to hire someone new, you had
• 18:49
  Speaker 6: to write down.
• 18:49
  Speaker 7: The task procedures.
• 18:51
  Speaker 4: Exactly, you're the measure. This is what you should be do,
• 18:53
  Speaker 4: this is what you should do right. This is what
• 18:55
  Speaker 4: I did long term.
• 18:56
  Speaker 6: That helps you out because now when it's time to
• 18:58
  Speaker 6: create your own franchise.
• 19:00
  Speaker 7: Exactly, it's already there.
• 19:02
  Speaker 3: But everything you said with me just really resonates. Like you,
• 19:05
  Speaker 3: it's hard. It'll be hard for anybody to understand that
• 19:07
  Speaker 3: if they're not an entrepreneur, but you you don't trust
• 19:09
  Speaker 3: people and not know you don't trust people in a
• 19:11
  Speaker 3: bad way. But it feels like you this is your baby,
• 19:13
  Speaker 3: and it's like you you know what you're doing, and
• 19:16
  Speaker 3: you mastered it, at least you think you mastered it.
• 19:18
  Speaker 3: And it's like you don't really fully feel that somebody
• 19:22
  Speaker 3: else can fulfill that role because they're not you. And
• 19:26
  Speaker 3: then even if it's going to take you a long
• 19:28
  Speaker 3: time to kind of teach them, so you don't really
• 19:31
  Speaker 3: trust them in that process. But like you said, I mean,
• 19:34
  Speaker 3: the problem with that is that now you're trying to
• 19:36
  Speaker 3: do every single thing yourself, and it gets a point
• 19:38
  Speaker 3: in time where you just can't. It's too much for
• 19:40
  Speaker 3: you to do. And somebody said in my business early on,
• 19:44
  Speaker 3: I heard they said, never do anything, never do anything
• 19:46
  Speaker 3: that you can pay somebody else to do, because there's
• 19:49
  Speaker 3: only there's some things that you can only do. Everything
• 19:53
  Speaker 3: else can be delegated, absolutely right. So it's like, even
• 19:57
  Speaker 3: with us growing as a podcast, that's something that we
• 20:00
  Speaker 3: even have to put in place as far as like
• 20:02
  Speaker 3: we are we do this as far as like interviews
• 20:05
  Speaker 3: and stuff like that, but a lot of the other
• 20:07
  Speaker 3: stuff we don't we shouldn't be doing like we shouldn't
• 20:09
  Speaker 3: be editing videos like that's the stuff that we can
• 20:12
  Speaker 3: do somebody everybody else can do. But as I said that,
• 20:15
  Speaker 3: that's true for any entrepreneur. So, but I think the
• 20:17
  Speaker 3: biggest step that stops people from doing that is the
• 20:20
  Speaker 3: financial obligation. Also because it's like, okay, it's a leap
• 20:23
  Speaker 3: of faith, because now it's to say it's bad enough
• 20:27
  Speaker 3: to be an entrepreneur and have money come in. Might
• 20:30
  Speaker 3: not come in yourself, but now you gotta pay somebody else.
• 20:33
  Speaker 3: Now you definitely gotta have money because you can't tell
• 20:36
  Speaker 3: them I had a bad week. So how it got
• 20:39
  Speaker 3: at what point financially did you like, Okay, I have
• 20:43
  Speaker 3: enough money, I can do this, or was that a
• 20:45
  Speaker 3: leap of faith for you?
• 20:45
  Speaker 8: Also, that was a leap of faith for the first
• 20:48
  Speaker 8: month I took a loss and I was hurt, maybe
• 20:52
  Speaker 8: even two months, so you hear the pain, but you
• 20:57
  Speaker 8: have to go through that until you figure it out.
• 21:00
  Speaker 8: And then once I figured out, okay, this is how
• 21:03
  Speaker 8: much I need to make to cover myself so I
• 21:07
  Speaker 8: can have money. And one of the other things I
• 21:09
  Speaker 8: did was I always had myself on payroll. A lot
• 21:13
  Speaker 8: of people start off with not paying themselves and they're
• 21:16
  Speaker 8: just paying everybody else. But need I still needed a job,
• 21:19
  Speaker 8: so putting yourself on payroll and seeing exactly how much
• 21:24
  Speaker 8: you have to make. So I always set goals for
• 21:27
  Speaker 8: the employees, like this is the goal we have to hit,
• 21:30
  Speaker 8: which included you know, my individual goal, pay yourself.
• 21:34
  Speaker 5: We're not playing that.
• 21:35
  Speaker 4: That's that's one of my favorite lines, pay yourself on
• 21:36
  Speaker 4: all yourself, right.
• 21:38
  Speaker 8: And it just works. It's you got to start slow.
• 21:40
  Speaker 8: So if you hire someone for one day a week,
• 21:43
  Speaker 8: like that's good. You just start slow until you trust
• 21:45
  Speaker 8: the process.
• 21:46
  Speaker 5: All right.
• 21:46
  Speaker 3: So all right, so we got the backstory, so now
• 21:49
  Speaker 3: we're going to go into what I really me personally.
• 21:52
  Speaker 3: I want to hear is the why and how you
• 21:54
  Speaker 3: built the franchise business and all of the details and in
• 21:59
  Speaker 3: and outs. All right, So now we're going to talk
• 22:01
  Speaker 3: about how you built the business as far as to
• 22:05
  Speaker 3: scale it to the next level, because okay, you have
• 22:07
  Speaker 3: It's one thing to have a successful business, right, but
• 22:09
  Speaker 3: it's another thing to actually open a franchise operation. And
• 22:16
  Speaker 3: I guess that's hard to do. That's why you're the
• 22:17
  Speaker 3: youngest one in the country, youngest people on the.
• 22:21
  Speaker 8: Okay, it's not hard to do. It's hard to figure
• 22:23
  Speaker 8: out if you don't have any guidance.
• 22:26
  Speaker 6: Like obviously, we've never I've never met anybody that owned
• 22:29
  Speaker 6: their own franchise, so like, yeah, like who was like
• 22:32
  Speaker 6: what was the guidance, Like what was the mental or
• 22:34
  Speaker 6: the moment that you said, this is what I have
• 22:36
  Speaker 6: to do now?
• 22:37
  Speaker 7: So there, I was really frustrated. One day.
• 22:39
  Speaker 8: I don't remember what was frustrating me, but I went
• 22:43
  Speaker 8: to Barnes and Nobles and I googled the top five
• 22:47
  Speaker 8: franchise consulting firms and I caused all five to see
• 22:52
  Speaker 8: who would call me back first, because at that point,
• 22:55
  Speaker 8: I was like, I don't want to open multiple locations.
• 22:59
  Speaker 5: Well can you talk about So I actually asked you
• 23:02
  Speaker 5: that question.
• 23:03
  Speaker 3: I'm like, what made you say, Okay, instead of opening
• 23:05
  Speaker 3: I want to shop in New Work, I want to
• 23:07
  Speaker 3: shop in Brooklyn, But it's gonna be what made you
• 23:09
  Speaker 3: want to just say I want to do franchises and
• 23:11
  Speaker 3: have other.
• 23:11
  Speaker 7: People And I left this out.
• 23:12
  Speaker 8: I did own another location at that point, so I
• 23:16
  Speaker 8: owned two locations and I was working on three. But
• 23:19
  Speaker 8: I was like, I don't I can't handle it on
• 23:22
  Speaker 8: my own.
• 23:22
  Speaker 5: Why so why did you? Why did you fell you could?
• 23:25
  Speaker 8: I wanted to maintain some free time for my family,
• 23:29
  Speaker 8: for my leisure, and for work, so I didn't There's
• 23:32
  Speaker 8: a lot of business owners who just run around all
• 23:36
  Speaker 8: day long to multiple locations and then burn out at night.
• 23:40
  Speaker 8: But I always wanted to leave time for myself because
• 23:43
  Speaker 8: I feel like that's important, and I didn't want the
• 23:45
  Speaker 8: business to overrun me. So I wanted to allow other
• 23:50
  Speaker 8: people to open. And I realized that in the United States,
• 23:54
  Speaker 8: you have to franchise if you allow somebody else to
• 23:57
  Speaker 8: use your logo and your business name.
• 24:00
  Speaker 3: Can you talk about that? I just found that out,
• 24:02
  Speaker 3: So you can't. You can't let somebody else use it
• 24:04
  Speaker 3: unless it's a franchise.
• 24:06
  Speaker 7: And there's a lot of people who like license.
• 24:10
  Speaker 8: Their method. There's there's stores, but you actually cannot. You're
• 24:15
  Speaker 8: not supposed to, and if you get caught, it's a
• 24:18
  Speaker 8: it's a big fine. You have to become a franchise
• 24:21
  Speaker 8: if they are following your trademarks, logos and name. So
• 24:27
  Speaker 8: your trademark is the Kika Method, Kika Stretch Studios, the
• 24:31
  Speaker 8: Kika Method. Yeah, so I also franchise, I mean, franchise
• 24:37
  Speaker 8: trademarked most of the trademarks myself. I just sat in
• 24:42
  Speaker 8: front of a computer for hours until I figured it
• 24:46
  Speaker 8: out and so.
• 24:48
  Speaker 3: So all right, so so so you looked at the
• 24:50
  Speaker 3: consulting firms and what happened at that point.
• 24:53
  Speaker 8: So the first one that called me back a guy
• 24:56
  Speaker 8: Chris Connor out of Atlanta Franchise Marketing System, and he
• 25:02
  Speaker 8: pitched the whole concept of working with me, like I
• 25:04
  Speaker 8: think this could work. I'll be on a flight tomorrow
• 25:07
  Speaker 8: and I'm like, really, okay, mind you. He was the
• 25:11
  Speaker 8: only one that called me back. The other people called
• 25:15
  Speaker 8: me back like three days later and like not. And
• 25:18
  Speaker 8: so he came. He looked at my studio, he listened
• 25:21
  Speaker 8: to the whole model, and he's like, you could definitely
• 25:23
  Speaker 8: do this. He helped franchise Massage, Envy and a lot of
• 25:28
  Speaker 8: other big franchises. So and his price was also like
• 25:32
  Speaker 8: lower than all of the other franchise company fifteen thousand, okay, yeah,
• 25:38
  Speaker 8: most of them are twenty and up.
• 25:40
  Speaker 5: And what do you get for that? Like he sets
• 25:42
  Speaker 5: it up.
• 25:43
  Speaker 8: He sets up the whole franchise model, the FDD.
• 25:46
  Speaker 5: All right, So okay, So he came and then he's
• 25:48
  Speaker 5: the one that set it up for you.
• 25:50
  Speaker 8: He's the one that pulled the resources out of me,
• 25:55
  Speaker 8: the procedures. I had, the strategies, and he helped drive
• 26:00
  Speaker 8: the whole.
• 26:01
  Speaker 4: So that you said, the FDD. What does that stand
• 26:04
  Speaker 4: for again?
• 26:05
  Speaker 7: Federal disclosure document.
• 26:06
  Speaker 3: And that's what you have to do in order to Yes,
• 26:09
  Speaker 3: So to have to open up a franchise, you have
• 26:12
  Speaker 3: to do.
• 26:12
  Speaker 5: The first thing I do is an FDD right disclosure document.
• 26:16
  Speaker 7: Yes, and you do that.
• 26:17
  Speaker 3: You do that with the United States government. Yes, And
• 26:21
  Speaker 3: each state has its own.
• 26:23
  Speaker 8: It's the same FDD, but each state has its own
• 26:28
  Speaker 8: laws as far as submission. So like New York, you
• 26:32
  Speaker 8: have to submit your FDD. It has to be approved
• 26:35
  Speaker 8: by the state each year before you can sell a
• 26:37
  Speaker 8: franchise New Jersey. I can just give you my FDD
• 26:41
  Speaker 8: and have you sign up on the spot. New York
• 26:44
  Speaker 8: they have to approve it each year. New york'sity is
• 26:47
  Speaker 8: the worst and everything California same.
• 26:52
  Speaker 5: So all right, So what's in the FDD.
• 26:54
  Speaker 8: So within the fd D, it's basically like the rule
• 26:57
  Speaker 8: book for the franchise, Like, this is what we're gonna
• 26:59
  Speaker 8: do for you. This is your role as a franchisee.
• 27:03
  Speaker 8: This is my role. It basically puts on the table
• 27:06
  Speaker 8: every cost that you could incur with a business like this.
• 27:10
  Speaker 8: It discloses to the franchise e everything they would have
• 27:13
  Speaker 8: to deal with if they decided to join your organization,
• 27:17
  Speaker 8: every possible element of everything.
• 27:19
  Speaker 5: How long? Like how long is it?
• 27:21
  Speaker 3: So?
• 27:21
  Speaker 7: Mine is about like three hundred pages?
• 27:24
  Speaker 5: Three pages, yes, and that's what he helped you write that.
• 27:27
  Speaker 7: Yes, so he has a team of people that helped
• 27:29
  Speaker 7: put it all together.
• 27:30
  Speaker 5: So how do you all right?
• 27:31
  Speaker 3: So is it like a set template to say like
• 27:34
  Speaker 3: or like, how do you come up with three hundred
• 27:37
  Speaker 3: pages of items?
• 27:38
  Speaker 6: Or was you using that that when you find yourself
• 27:41
  Speaker 6: you had so much writing already built up.
• 27:43
  Speaker 7: Like I did.
• 27:44
  Speaker 8: So within the FDD, so we do three weeks of
• 27:48
  Speaker 8: training for each of the franchisees. So lists how much
• 27:52
  Speaker 8: time is spent on this topic in training, Like it
• 27:56
  Speaker 8: spells out the whole training by minutes, thirty minutes on
• 27:59
  Speaker 8: this thirty minutes, and that.
• 28:00
  Speaker 7: It shows you the least possible.
• 28:03
  Speaker 8: Amount of money you could use to open in the
• 28:06
  Speaker 8: highest So there's a range. Uh. It spells out liability
• 28:11
  Speaker 8: of the franchise or like.
• 28:12
  Speaker 7: What are we liable for? What are we not liable for?
• 28:16
  Speaker 8: So once the franchise he reads it, they understand what
• 28:20
  Speaker 8: they're getting themselves into. And once they sign it, you
• 28:24
  Speaker 8: can't say I didn't tell you you know this is
• 28:27
  Speaker 8: going to happen.
• 28:27
  Speaker 3: So that the fd D actually is the instruction manual. Yes, yeah,
• 28:32
  Speaker 3: you don't have like another.
• 28:33
  Speaker 5: One on top of that.
• 28:34
  Speaker 7: We do.
• 28:35
  Speaker 5: So what's the other one? You have time, so there's
• 28:38
  Speaker 5: a reason that now we know why you're the youngest one.
• 28:44
  Speaker 5: What's what's all?
• 28:45
  Speaker 4: Right?
• 28:45
  Speaker 3: So we got the fd D. That's pretty much the
• 28:47
  Speaker 3: whole instruction manual. So what's on top of that?
• 28:49
  Speaker 8: So the FDD, right is so legally it allows you
• 28:52
  Speaker 8: to sell a business to someone, right, So that's the FDD.
• 28:55
  Speaker 8: Then there's an operations manual. So that's where all my strategies, concepts,
• 29:03
  Speaker 8: all of my material as far as like how to
• 29:05
  Speaker 8: find staff, it's in the operations manual. So the operations
• 29:10
  Speaker 8: manual is what teaches them what to do. So that's
• 29:13
  Speaker 8: a whole other document which came hand in hand with
• 29:16
  Speaker 8: the FDD.
• 29:17
  Speaker 6: And once they signed that document, the FDD, they can't.
• 29:21
  Speaker 4: Deviate from that. Operational agreement.
• 29:23
  Speaker 5: No, so how how many pages is the operation?
• 29:27
  Speaker 3: It's about two hundred so it's five hundred pages all together. Yes,
• 29:32
  Speaker 3: it's like loaded the rings. So okay, so how long
• 29:35
  Speaker 3: how long did it take you to put together.
• 29:37
  Speaker 5: All of that?
• 29:38
  Speaker 4: So?
• 29:40
  Speaker 8: I mean they were prepared to put it together within
• 29:43
  Speaker 8: a month, but I needed more time, so it took
• 29:47
  Speaker 8: me about four months.
• 29:49
  Speaker 3: Okay, so you were did you actually write it yourself
• 29:51
  Speaker 3: or you just dictated it to them?
• 29:52
  Speaker 7: Dictated it to them?
• 29:54
  Speaker 5: So would you ever suggest somebody can do it them?
• 29:57
  Speaker 8: There's some things you don't want to do yourself. One
• 29:59
  Speaker 8: of those is messed with the law, So you really
• 30:03
  Speaker 8: get get a professional and do your research because a
• 30:07
  Speaker 8: lot of people rip people off just to create that document.
• 30:10
  Speaker 8: So you have to do your research so you know
• 30:12
  Speaker 8: what you're getting into, all right.
• 30:14
  Speaker 3: So now okay, so you have the FDD done, yes,
• 30:17
  Speaker 3: and then you got approved. It's how long it takes
• 30:20
  Speaker 3: to get approved?
• 30:20
  Speaker 7: So like, once it was done, I could sell and earners.
• 30:25
  Speaker 4: What's up?
• 30:25
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• 33:12
  Speaker 8: You need many states, Like, once it's done here you go, Kiko, Okay,
• 33:16
  Speaker 8: you want to open in New Jersey?
• 33:18
  Speaker 7: Great, but like do they have to approve it? No,
• 33:20
  Speaker 7: unless you go to a state like New York, California.
• 33:23
  Speaker 4: So you were in Montclair right to the first one.
• 33:27
  Speaker 7: So if in New Jersey, Jersey fortunately, right?
• 33:30
  Speaker 4: Yeah? Yeah, so like to put one in Brooklyn out yes? Different?
• 33:34
  Speaker 7: Right requires the state to approve it?
• 33:36
  Speaker 3: All right, Okay, so you have the you have the FDD,
• 33:40
  Speaker 3: then you have the operational agreement. So now you're up
• 33:42
  Speaker 3: and running as far as you can. Now you can
• 33:45
  Speaker 3: have people buy your franchise, right, but that's only have
• 33:48
  Speaker 3: to battle because people have to actually buy your franchise. Yeah,
• 33:50
  Speaker 3: so what's the process for that? How did how did
• 33:54
  Speaker 3: you get the word out? How did you get people
• 33:56
  Speaker 3: interested in buying?
• 33:57
  Speaker 5: Like? How did that? How was the first the first
• 33:59
  Speaker 5: person that brought up franchise? How did that?
• 34:01
  Speaker 3: So?
• 34:01
  Speaker 8: I had so I owned a studio in Westfield, Montclair,
• 34:05
  Speaker 8: in Westfield, So in Westfield, I had a manager. That
• 34:08
  Speaker 8: was so amazing was she was doing better than I
• 34:12
  Speaker 8: could have. And when I when you see talent like
• 34:15
  Speaker 8: that on your staff, you have to do something about
• 34:17
  Speaker 8: it or else they'll leave, they'll find another job. So
• 34:21
  Speaker 8: I knew this position like she outgrew the position. So
• 34:24
  Speaker 8: I talked to the company I spoke to you guys
• 34:27
  Speaker 8: about and I was like, how do I open up
• 34:30
  Speaker 8: the first one? How do I find people? And they
• 34:33
  Speaker 8: talked about a pizzeria that sold their first one to
• 34:36
  Speaker 8: their manager. They let their manager in, it was already
• 34:40
  Speaker 8: up and running. It would be great to start with
• 34:42
  Speaker 8: someone who knows the system. So I proposed that offer
• 34:46
  Speaker 8: to her and her husband, and she took it. So
• 34:49
  Speaker 8: actually she became the first franchisee.
• 34:53
  Speaker 6: We have a slight franchise e story, like twelve years ago,
• 34:56
  Speaker 6: we tried to get into a franchise. You said this
• 35:01
  Speaker 6: in an earlier episode, but it was like, you know,
• 35:02
  Speaker 6: we needed five hundred thousand, and we're like in our twenties,
• 35:07
  Speaker 6: how are we going to do this? But you've created
• 35:08
  Speaker 6: a different method for people who wanted to get into
• 35:11
  Speaker 6: the franchise position.
• 35:13
  Speaker 4: You want to talk.
• 35:13
  Speaker 7: About it, So, yeah, can you talk about that I'm
• 35:15
  Speaker 7: not gonna talk about it.
• 35:17
  Speaker 3: That's interesting because, like you said, a lot of France,
• 35:19
  Speaker 3: like McDonald's I think is the most expensive.
• 35:20
  Speaker 4: A million dollars to get I think.
• 35:22
  Speaker 3: Now it's like, right, see what I did, shout out
• 35:27
  Speaker 3: the homemade all right? So yeah, because it's like a
• 35:31
  Speaker 3: lot of these franchises like a million dollars a million
• 35:33
  Speaker 3: and a half, and then you have to some of
• 35:36
  Speaker 3: the franchise you have to buy three locations.
• 35:38
  Speaker 5: You can't just buy one location.
• 35:39
  Speaker 3: You got to have like a million dollars and investable assets,
• 35:42
  Speaker 3: all kinds of stuff.
• 35:43
  Speaker 5: It's not easy to open a franchise. So but your
• 35:47
  Speaker 5: your model is.
• 35:48
  Speaker 3: Different, right, Yes, so before we've been talking, you have
• 35:51
  Speaker 3: a you have a sliding scale of the price range
• 35:54
  Speaker 3: right anywhere from thirty to ninety correct, depending.
• 35:57
  Speaker 5: On geographic locations.
• 35:58
  Speaker 7: Exactly.
• 35:59
  Speaker 3: So obviously major markets is more, right in the smaller
• 36:01
  Speaker 3: market is less exactly because the major market is.
• 36:03
  Speaker 5: Going to do more business.
• 36:04
  Speaker 7: Yeah, and the real estate is more ye.
• 36:08
  Speaker 3: So all right, So but you also have an income
• 36:11
  Speaker 3: is it? Income based?
• 36:13
  Speaker 7: Income based financing.
• 36:15
  Speaker 5: What we like to call So can you explain that.
• 36:19
  Speaker 7: I'm coining it? Someone write it down?
• 36:22
  Speaker 8: After So basically, like I started with five hundred dollars,
• 36:28
  Speaker 8: I had no net worth, right, so if if someone
• 36:32
  Speaker 8: offered me something, they wouldn't and it would prevent me
• 36:36
  Speaker 8: from having the opportunity of what I've done so far.
• 36:39
  Speaker 8: So I kind of had that in my head, like,
• 36:41
  Speaker 8: just because you have a million dollars in assets doesn't
• 36:43
  Speaker 8: mean you're a good business owner. It really takes personality.
• 36:47
  Speaker 8: This is a service business, so you have to have
• 36:50
  Speaker 8: a personality.
• 36:50
  Speaker 7: You have to be able to be likable.
• 36:54
  Speaker 8: So there's a lot of different things that would make
• 36:56
  Speaker 8: you a good franchisee besides assets.
• 36:59
  Speaker 7: So but I says over, yeah.
• 37:03
  Speaker 8: So you can't have too many liabilities to get in.
• 37:06
  Speaker 8: But so basically it goes by person by person what
• 37:10
  Speaker 8: but we look for, number one.
• 37:13
  Speaker 7: People who are good with people. People who.
• 37:17
  Speaker 8: Show a healthy relationship with money. So even if you're
• 37:20
  Speaker 8: making I don't know what, two thousand dollars a month,
• 37:23
  Speaker 8: I'm exaggerating, but you're still saving for retirement five dollars
• 37:28
  Speaker 8: a month. That shows that you're you handle money well.
• 37:31
  Speaker 8: And that's the biggest thing that we look for. People
• 37:33
  Speaker 8: who handle money well, because if it's five dollars versus
• 37:37
  Speaker 8: a million dollars, It doesn't matter because you're you're going
• 37:40
  Speaker 8: to handle the business well. So we look at people's income,
• 37:46
  Speaker 8: what they currently do, are they saving, what does their
• 37:49
  Speaker 8: savings look like, how much can they put upfront towards
• 37:53
  Speaker 8: the franchise, what has been their work history, what their
• 37:56
  Speaker 8: passion is. We have a whole kind of checklist that
• 38:00
  Speaker 8: we go over and we process it and then we approve.
• 38:03
  Speaker 7: Them based on that.
• 38:04
  Speaker 8: So who's we So it's myself and I have a
• 38:07
  Speaker 8: team of three other people that help with the franchise
• 38:10
  Speaker 8: company and Dan.
• 38:11
  Speaker 3: You said, but you guys can assist with financing too, right, yes,
• 38:15
  Speaker 3: so can you talk about that?
• 38:16
  Speaker 8: So the franchise fee is thirty thousand dollars. However, say
• 38:20
  Speaker 8: you have twenty thousand, usually you would never be able
• 38:25
  Speaker 8: to own a franchise because you don't have enough money.
• 38:28
  Speaker 8: So we might finance that other ten for you depending
• 38:30
  Speaker 8: on the situation over time.
• 38:32
  Speaker 7: So the biggest thing is there's.
• 38:34
  Speaker 8: A pool of people who are being left out of
• 38:36
  Speaker 8: this whole franchise concept due to financial reasons. So we're
• 38:40
  Speaker 8: making it easier for people who still have potential to
• 38:43
  Speaker 8: get in.
• 38:45
  Speaker 6: And so right now you have twelve franchises, right, Yes,
• 38:48
  Speaker 6: eleven of them are minority own.
• 38:49
  Speaker 4: Yes, applause for that.
• 38:51
  Speaker 6: And you said that there's a certain demographic of franchises
• 38:55
  Speaker 6: that you're looking for.
• 38:56
  Speaker 4: Why millennials? What makes them the target audience.
• 38:59
  Speaker 8: For here another loaded question? Why millennials? Well, so, millennials
• 39:05
  Speaker 8: have been told by their baby booming parents, get a
• 39:08
  Speaker 8: good job, work there, your whole life, save for retirement,
• 39:13
  Speaker 8: and that's it. You're a good person. However, we know
• 39:16
  Speaker 8: that's not the case nowadays most people, most people. That's
• 39:21
  Speaker 8: why you see, speaking of Mickeyde's right, you see fifty
• 39:26
  Speaker 8: year old, sixty year olds working there because they don't
• 39:30
  Speaker 8: have enough money to live off of their retirement plan
• 39:32
  Speaker 8: did not carry them through. So we have these millennials
• 39:36
  Speaker 8: who are getting frustrated within their jobs. They've reached a
• 39:40
  Speaker 8: glass ceiling and they're looking for opportunities, but nothing is
• 39:44
  Speaker 8: there because they're solely relying on their boss supervisor to
• 39:48
  Speaker 8: give them a raise. So what we've started doing is
• 39:51
  Speaker 8: pitching for them to give themselves a raise through franchising.
• 39:57
  Speaker 8: And it's just a pool of people that are looking
• 39:59
  Speaker 8: for a way out, and we've realized these are the
• 40:01
  Speaker 8: people that we want, and we're going to help guide
• 40:03
  Speaker 8: them and show them how.
• 40:04
  Speaker 7: To do it.
• 40:05
  Speaker 3: One of the good things about franchise is that it
• 40:08
  Speaker 3: allows you to So somebody said, we had a guest
• 40:11
  Speaker 3: and he said, you saw Chris Senegal. He said that
• 40:13
  Speaker 3: in school, they teach you not to cheat, but in
• 40:16
  Speaker 3: business you get rewarded for cheating. Not cheating people, but
• 40:21
  Speaker 3: like cheating as far as you see what somebody else
• 40:24
  Speaker 3: is done and you copy.
• 40:25
  Speaker 5: That, right, like I should use that word copy. You
• 40:29
  Speaker 5: get rewarded for copying. Right.
• 40:31
  Speaker 3: You copy somebody's paper in class and you can keep
• 40:34
  Speaker 3: that at school. You copy a business and you become
• 40:36
  Speaker 3: a millionaire. So that's what it does, is it saves
• 40:40
  Speaker 3: the learning curve. And like you said, I mean, ninety
• 40:44
  Speaker 3: five percent of businesses failed. So if you already have
• 40:46
  Speaker 3: a successful business, your eyes of being successful is a
• 40:50
  Speaker 3: lot higher than just starting out from scratch, right. And
• 40:53
  Speaker 3: as you said, I mean, you have five hundred pages
• 40:56
  Speaker 3: of a system that's already in place as opposed to
• 40:59
  Speaker 3: just trying to wing it and start yourself. And it
• 41:01
  Speaker 3: could be very lucrative too, because you were saying, like
• 41:03
  Speaker 3: some of the your locations like well Over six figures. Yes,
• 41:08
  Speaker 3: so yeah, so those are all the pros I did
• 41:11
  Speaker 3: a commercial. So all right, so what's the revenue model
• 41:18
  Speaker 3: like as far as how do how do you make
• 41:21
  Speaker 3: money off of the franchise?
• 41:22
  Speaker 8: Right, So, we collect the franchise fees upfront or through
• 41:27
  Speaker 8: our income based financing program, and then we collect royalties
• 41:32
  Speaker 8: each month, six percent royalties off of their gross income.
• 41:35
  Speaker 8: So the benefit of doing a percentage is that if
• 41:38
  Speaker 8: they it encourages us to make sure they're making money,
• 41:42
  Speaker 8: because if they don't make money, our six percent is
• 41:45
  Speaker 8: very small. If they're being very lucrative and successful, our
• 41:50
  Speaker 8: six percent is much larger. So we're constantly coaching them
• 41:55
  Speaker 8: and helping them make more. What I like to tell
• 41:57
  Speaker 8: my franchisees is that they'll always make more money than me.
• 42:01
  Speaker 8: So it puts them in the mindset of, oh, you're right,
• 42:04
  Speaker 8: this is my thing. And one thing I wanted to
• 42:06
  Speaker 8: say is we look for people who have currently been
• 42:09
  Speaker 8: working for other companies as employees and putting their all
• 42:14
  Speaker 8: into their job, not but not getting anywhere. So it's
• 42:18
  Speaker 8: a mindset switch. This is the hardest thing to get
• 42:21
  Speaker 8: them to understand if you work just as hard for
• 42:23
  Speaker 8: yourself you'll make money.
• 42:26
  Speaker 6: It's like what you said, like their success is your
• 42:29
  Speaker 6: success exactly.
• 42:30
  Speaker 4: I mean, so how long is the agreement? How long
• 42:33
  Speaker 4: does that last?
• 42:34
  Speaker 7: It lasts for ten years?
• 42:36
  Speaker 4: Ten year period? Yes, okay?
• 42:38
  Speaker 3: And then okay, so all right, So okay, I want
• 42:41
  Speaker 3: to open a franchise. I meet with you, I get approved,
• 42:44
  Speaker 3: of course, thirty thousand. Let's say I give you thirty thousand,
• 42:47
  Speaker 3: and then you get some help too, though, right, like
• 42:51
  Speaker 3: what's the what after that? You said you provide training
• 42:54
  Speaker 3: and what else do you provide?
• 42:55
  Speaker 8: So that includes three weeks of initial training, ten years
• 43:00
  Speaker 8: of support, and from Monday through Friday, constant support.
• 43:07
  Speaker 5: What is the support like website.
• 43:08
  Speaker 8: Support, website support, publicity, We provide graphics for the franchises
• 43:14
  Speaker 8: to use. We provide the like basically every tool you
• 43:18
  Speaker 8: can think of with the SEO for their location.
• 43:21
  Speaker 4: So they're not going to Staples like you did.
• 43:23
  Speaker 8: They're not going to Staples. They're much more sophisticated than
• 43:27
  Speaker 8: I ever was.
• 43:28
  Speaker 3: And then as your brand grows, obviously to brand recognition,
• 43:31
  Speaker 3: that's the RECOGNI that's another plus of being a franchise
• 43:34
  Speaker 3: on it. So okay, so now I pay you the
• 43:36
  Speaker 3: thirty thousand. I get the shop. I'm making ten thousand
• 43:38
  Speaker 3: a month, I give you six hundred. I keep ninety
• 43:41
  Speaker 3: four hundred and that's yes, okay, all right. And then
• 43:48
  Speaker 3: for the people that are financed, so the people that
• 43:49
  Speaker 3: don't have all the money upfront that you finance or
• 43:52
  Speaker 3: your company finances, how do they pay you back.
• 43:55
  Speaker 7: Over the break?
• 43:55
  Speaker 8: So we work out an agreement twenty four months, thirty
• 43:59
  Speaker 8: two months, pins of whatever the balance is broken up
• 44:03
  Speaker 8: over time, so they would pay that balance and then
• 44:06
  Speaker 8: they would pay the six percent.
• 44:10
  Speaker 5: Of course, gotta do that.
• 44:12
  Speaker 7: It depends on the situation, all right.
• 44:17
  Speaker 5: So that was a good question.
• 44:20
  Speaker 8: Email to find out one thing.
• 44:23
  Speaker 3: One thing I always wondered about having like a franchise,
• 44:26
  Speaker 3: like even like a McDonald's who has millions of franchises
• 44:28
  Speaker 3: all over the world, how do you know if somebody's
• 44:31
  Speaker 3: like deviating from like you're sending spies in there to
• 44:35
  Speaker 3: like check more people, Like, how do you know like
• 44:37
  Speaker 3: you might have really.
• 44:40
  Speaker 8: We send out secret shoppers. We actually just did that
• 44:44
  Speaker 8: to two studios and they were there was surprised. And
• 44:49
  Speaker 8: also with social media nowadays, you can like we spot
• 44:53
  Speaker 8: stuff sometimes like bro, why are they wearing a pink
• 44:56
  Speaker 8: shirt when they're you're supposed to wear a black shirt.
• 44:58
  Speaker 8: You know, they like that, but we focus it's like
• 45:03
  Speaker 8: its own little department.
• 45:04
  Speaker 7: We focus on that.
• 45:05
  Speaker 3: Just making sure that Yeah. So all right, So what's
• 45:07
  Speaker 3: the process is like, okay, you have like you mess
• 45:10
  Speaker 3: up too many times and you're done.
• 45:12
  Speaker 7: Yes, that's also in the FDD.
• 45:14
  Speaker 5: Okay, restrikes, you're out.
• 45:16
  Speaker 7: Yeah, it's basically through yeah.
• 45:18
  Speaker 5: Okay, and then so you strip them up using the
• 45:21
  Speaker 5: name and all.
• 45:21
  Speaker 7: That you can. Yes, it's a point for people.
• 45:24
  Speaker 3: To know because it's like like I said, I mean
• 45:26
  Speaker 3: I didn't I don't know this stuff. So it's like
• 45:29
  Speaker 3: if you want to start a franchise, it's good information,
• 45:32
  Speaker 3: like you know, Yeah, you gotta know everything that you
• 45:34
  Speaker 3: need to know before you go into business because you
• 45:36
  Speaker 3: got to expect every possible case scenario what could possibly happen.
• 45:40
  Speaker 8: You have to be the type of person that is
• 45:42
  Speaker 8: okay with running with something that already exists. Right, you
• 45:46
  Speaker 8: can make it your own because there's a lot of
• 45:49
  Speaker 8: will go room. You can choose who you hire, you
• 45:51
  Speaker 8: can choose business perks that you would give your clients,
• 45:57
  Speaker 8: but you have to be willing to follow an existing mind.
• 46:00
  Speaker 8: So if you're the type of person to take something
• 46:03
  Speaker 8: and just completely rip it apart because you just want
• 46:05
  Speaker 8: to do your own thing, then franchising is not for you.
• 46:08
  Speaker 3: So would you consider a franchise owner as an entrepreneur
• 46:13
  Speaker 3: or a manager?
• 46:16
  Speaker 8: Good question, both, because that's essentially what we're doing. What
• 46:21
  Speaker 8: I do manage the locations on a higher level to
• 46:25
  Speaker 8: ensure that they're following our systems. So as far as
• 46:29
  Speaker 8: me as the franchise or I have monthly cause with
• 46:31
  Speaker 8: each studio, I'll fly out a few times per year
• 46:35
  Speaker 8: to like visibly see it. Just so the biggest thing
• 46:39
  Speaker 8: about my job is making sure it's just like my
• 46:42
  Speaker 8: little studio in Montclair.
• 46:44
  Speaker 7: We're all the same.
• 46:45
  Speaker 8: We're all because we have clients that travel from state
• 46:48
  Speaker 8: to state and they expect the same experience. And because
• 46:51
  Speaker 8: it's a service business, you know, people are very verbal
• 46:56
  Speaker 8: about if they're dissatisfied. But so far we've been doing
• 47:00
  Speaker 8: a really good job through reviews and things like that
• 47:03
  Speaker 8: on Google check it out.
• 47:06
  Speaker 3: All right, So in the next seven we're gonna go
• 47:07
  Speaker 3: into scaling and how you're gonna blow this thing out
• 47:11
  Speaker 3: of the water. All right, So now we're gonna go
• 47:13
  Speaker 3: into the next level of business as far as we
• 47:16
  Speaker 3: explain the whole process of how you got started, then
• 47:19
  Speaker 3: we explain how you set up the franchises. Now we're
• 47:22
  Speaker 3: going to talk about how you're growing the franchises, but
• 47:25
  Speaker 3: before we go there, so we kind of briefly talked
• 47:27
  Speaker 3: about it, but we didn't really fully go into it.
• 47:29
  Speaker 5: So you have a system in place to hire or
• 47:33
  Speaker 5: to work with.
• 47:34
  Speaker 3: Minority business owners, right, yes, for your franch Is that
• 47:38
  Speaker 3: something that you just do as an eye test or
• 47:40
  Speaker 3: is that like a system that you have in place
• 47:42
  Speaker 3: to kind of like like, what's it the Rooney rule.
• 47:46
  Speaker 5: In the NFL?
• 47:46
  Speaker 4: Oh yeah, yeah, they have to with that.
• 47:50
  Speaker 3: If anybody that's not the NFL, they have to whenever
• 47:53
  Speaker 3: they're hiring a general general manager, right, yeah, they have
• 47:56
  Speaker 3: to they have to pick an African American as one
• 48:00
  Speaker 3: of the candidates.
• 48:00
  Speaker 5: They don't have to.
• 48:01
  Speaker 4: Hire them anybody any minority. It could be Hispanic as well.
• 48:04
  Speaker 3: Okay, a minority as one of the people that they interview.
• 48:08
  Speaker 3: So I say that, they say, do you have something
• 48:10
  Speaker 3: like that in place or is it just something like
• 48:12
  Speaker 3: you're just actively looking for.
• 48:13
  Speaker 8: Yeah, so it's organically grown like that just starting from
• 48:18
  Speaker 8: Instagram and people like what she's a franchise or doing
• 48:23
  Speaker 8: more research into what I'm doing and they see someone
• 48:26
  Speaker 8: that looks like them. So I think that's what's helped
• 48:31
  Speaker 8: grow grow it so far, it's just been organic.
• 48:35
  Speaker 3: Because it's because I forgot the exact percentage, but it's
• 48:40
  Speaker 3: a very low percentage of I don't even want to
• 48:44
  Speaker 3: use the term minority. It's I never really liked that word.
• 48:47
  Speaker 3: It's just so broad ranging and it's not really completely accurate.
• 48:50
  Speaker 3: Different conversation for a different day. But yeah, it's for
• 48:54
  Speaker 3: African American, right, it's a very low percentage of African
• 48:58
  Speaker 3: American franchise franchisees owners and especially franchise ors.
• 49:04
  Speaker 7: It's like me and two other people in.
• 49:06
  Speaker 5: The whole country, like three people in the country. So
• 49:09
  Speaker 5: it's needed.
• 49:10
  Speaker 3: It's something that because we need more in every area,
• 49:17
  Speaker 3: but especially in this area as well.
• 49:19
  Speaker 5: Yes, I think it's a great thing that you're doing,
• 49:21
  Speaker 5: and yeah, kudos to you on that, thank Yeah.
• 49:24
  Speaker 3: Sure, So all right, so you have twelve you have
• 49:26
  Speaker 3: twelve locations right now, right where theyre located.
• 49:30
  Speaker 8: So Montclair, Westfield, New Jersey, Morristown, New Jersey, Summit, New Jersey,
• 49:35
  Speaker 8: do you want me to just say, well, okay, I'm
• 49:38
  Speaker 8: like no, it's going to take too long. New Jersey, Florida, Texas, Atlanta, Pennsylvania,
• 49:46
  Speaker 8: and we're working working on Nevada and Maryland.
• 49:50
  Speaker 3: Okay, So you have twelve right now, so your goal
• 49:53
  Speaker 3: is to have sixty.
• 49:53
  Speaker 5: Five by win five years five years? So how do
• 49:56
  Speaker 5: you grow from twelve to sixty five?
• 49:59
  Speaker 8: So far, it's just been word of mouth and just
• 50:04
  Speaker 8: showing happy people like success stories. It's important, Like I'd
• 50:08
  Speaker 8: never like to sell something that I didn't believe in,
• 50:11
  Speaker 8: So I'm really hard on myself my model, and I'm like,
• 50:14
  Speaker 8: do I believe this? Because if I don't, nobody else will.
• 50:17
  Speaker 8: So when I have a franchisee who's successful and they're
• 50:20
  Speaker 8: making money, then they post about it and then other
• 50:24
  Speaker 8: people get encouraged by it. So our strategy has just
• 50:27
  Speaker 8: been word of mouth so far.
• 50:30
  Speaker 4: So what type of locations are you looking for? A?
• 50:33
  Speaker 4: And then B.
• 50:35
  Speaker 6: As far as inventory, what is needed to be put
• 50:37
  Speaker 6: into one of your studios? I know you started with
• 50:40
  Speaker 6: a ball on a mat, but I know we've grown since.
• 50:43
  Speaker 4: Oh what type of what are the things that you need?
• 50:47
  Speaker 8: So? Yeah, basic operational equipment like phones, computers. We have
• 50:53
  Speaker 8: a retail area that consist of like we sell CBD products.
• 50:58
  Speaker 8: We have branded material. We have these amazing gel socks
• 51:04
  Speaker 8: that no other studio has that you put your foot
• 51:07
  Speaker 8: in and it's like squishy gel that has essential oils
• 51:11
  Speaker 8: and things like that. We also have mats that have
• 51:17
  Speaker 8: measuring systems on it, so we track clients results. So
• 51:21
  Speaker 8: there's another trademark, Kika stretch age. So when you come in,
• 51:25
  Speaker 8: we'll actually tell you how old you are flexibility wise,
• 51:30
  Speaker 8: and we track it.
• 51:32
  Speaker 6: They said I was two, that's when I discovered that.
• 51:37
  Speaker 7: And we track it.
• 51:38
  Speaker 8: So we're giving clients measurable results and that's why they
• 51:41
  Speaker 8: keep coming back. As far as locations storefront, it could
• 51:46
  Speaker 8: be second floor, the thing is, if you don't have
• 51:48
  Speaker 8: street level visibility, you just have to have visibility in
• 51:52
  Speaker 8: other ways, marketing online presence. So we teach them how
• 51:58
  Speaker 8: to market and be successful based on their location.
• 52:03
  Speaker 5: What's the pricing model?
• 52:05
  Speaker 8: So it ranges from fifty dollars to ninety dollars first session.
• 52:10
  Speaker 5: Oh so you don't do monthly memberships.
• 52:12
  Speaker 7: We do not do monthly membership? Is that the pass gyms?
• 52:16
  Speaker 4: Why the past?
• 52:18
  Speaker 5: Why don't you do monthly membership?
• 52:19
  Speaker 7: So we do.
• 52:20
  Speaker 8: We work on a package system, so people buy packages
• 52:23
  Speaker 8: of five or ten, so that's what we market pitch.
• 52:28
  Speaker 5: Why do you why do you why packages as opposed?
• 52:30
  Speaker 3: That's interesting because every gym that I've been to it
• 52:33
  Speaker 3: has always.
• 52:33
  Speaker 7: Been monthly memberships, right.
• 52:35
  Speaker 3: And everybody usually that the idea with the monthly subscription
• 52:38
  Speaker 3: is that people don't really cancel monthly things and it keeps.
• 52:41
  Speaker 5: It's a way if it's.
• 52:42
  Speaker 3: An ongoing revenue, whereas you might pay a package, it's
• 52:45
  Speaker 3: like one time, then I might not come back into July.
• 52:47
  Speaker 3: So that's interesting. Do you why do you think that
• 52:49
  Speaker 3: the package is better than the monthly?
• 52:51
  Speaker 8: So we've actually done the numbers, like with our competition
• 52:54
  Speaker 8: who does memberships, And so once you sell a membership,
• 52:58
  Speaker 8: once the person cancels done, you lost the customer. But
• 53:01
  Speaker 8: if you sell a package, so we sell a package
• 53:04
  Speaker 8: on their first visit, they come nine more times feeling
• 53:07
  Speaker 8: like they're just walking in the door not paying anything.
• 53:10
  Speaker 8: We show them measurable results in between, and then when
• 53:13
  Speaker 8: it's time to re up, we're like, look how far
• 53:15
  Speaker 8: you've gone?
• 53:16
  Speaker 7: Would you like to purchase another package? Yes? They become
• 53:20
  Speaker 7: addicted to it.
• 53:21
  Speaker 8: We've done the numbers and we make more than half.
• 53:26
  Speaker 8: We make double what the studios make when they only
• 53:29
  Speaker 8: solicit memberships, because yeah, go ahead, no no, So.
• 53:34
  Speaker 6: I'm thinking in my head, I'm trying to envision this.
• 53:36
  Speaker 6: So when I coin, I have an individual trainer each
• 53:38
  Speaker 6: session that I go yes, So like if there's how
• 53:40
  Speaker 6: many customers that.
• 53:41
  Speaker 8: You've seen at a time, and so we have the
• 53:44
  Speaker 8: studios have three to four rooms, so three sessions at
• 53:47
  Speaker 8: a time, maybe it's two on good days, it's four
• 53:50
  Speaker 8: sessions at a time, okay, each hour.
• 53:53
  Speaker 3: So okay, So psychologically they paid a fifty dollars, it's
• 53:58
  Speaker 3: fifty dollars for how many classes.
• 54:00
  Speaker 7: One per session?
• 54:03
  Speaker 3: Okay, so you pay, you pay two ten sessions and
• 54:09
  Speaker 3: you said that they don't feel like they're paying after
• 54:14
  Speaker 3: they paid up front. Psychologically it's less a blow for
• 54:20
  Speaker 3: ten weeks and as opposed to just paying every single month.
• 54:25
  Speaker 8: And so we've built like I built the system on
• 54:27
  Speaker 8: that years ago. And then when the whole membership phase came,
• 54:30
  Speaker 8: I questioned it. But we did surveys with all of
• 54:33
  Speaker 8: our clients and they're like, nahn't, I would just cancel
• 54:35
  Speaker 8: it at some point. So we have the same clients
• 54:38
  Speaker 8: that we've had for the past eight years.
• 54:40
  Speaker 5: So all right, but how regular do people come.
• 54:43
  Speaker 7: In once a week?
• 54:45
  Speaker 4: Okay?
• 54:45
  Speaker 6: So it's not a scheduled thing where I can just
• 54:48
  Speaker 6: come once if I do ten sessions, I can come
• 54:50
  Speaker 6: once a month.
• 54:50
  Speaker 8: Or you can schedule it how you how you want,
• 54:54
  Speaker 8: but we recommend that you come once a week.
• 54:56
  Speaker 7: In the beginning.
• 54:57
  Speaker 5: It's only classes.
• 54:58
  Speaker 7: It's one on one, no class, one on one.
• 55:01
  Speaker 3: On one, one on one, one instructor one person. Yes,
• 55:05
  Speaker 3: so what's the timeframe that you have for that?
• 55:08
  Speaker 8: So we do twenty five minute sessions, forty five minute sessions,
• 55:12
  Speaker 8: and sixty minute sessions like.
• 55:14
  Speaker 5: What all day?
• 55:15
  Speaker 7: All day?
• 55:16
  Speaker 6: So who is your obviously you guys are going to
• 55:19
  Speaker 6: grow like you're set to do this.
• 55:21
  Speaker 4: Who is your direct competition?
• 55:23
  Speaker 6: Who was coming into the space since you've been doing
• 55:25
  Speaker 6: it this is good? Who is who wasn't in that
• 55:28
  Speaker 6: space before?
• 55:29
  Speaker 4: Y'all?
• 55:30
  Speaker 8: Yeah, no one was in the space before me. People
• 55:33
  Speaker 8: thought I was crazy, of course, right, So there's a
• 55:35
  Speaker 8: company that actually flew out and approached me when we
• 55:41
  Speaker 8: had the fire to attempt to buy me out. What
• 55:44
  Speaker 8: happened was a big company. They own a cycling studio,
• 55:51
  Speaker 8: pilates and they were looking for stretching. So it was
• 55:55
  Speaker 8: me or another company, and so met with the guy.
• 55:59
  Speaker 7: He was like, oh, blowing away. Of course, we signed
• 56:01
  Speaker 7: an NDA non.
• 56:03
  Speaker 8: Disclosure agreement, but I was I was able to chat
• 56:09
  Speaker 8: with him and get in his mind about what they
• 56:11
  Speaker 8: were looking for as far as like acquiring a company.
• 56:14
  Speaker 8: So basically, the buyout was really low and they would
• 56:19
  Speaker 8: give you they called it an owner's salary or founding
• 56:24
  Speaker 8: member's salary, and that's all you would get. You would
• 56:27
  Speaker 8: not own the franchise company they would So of course
• 56:31
  Speaker 8: I declined and they went with my competitor, so we
• 56:35
  Speaker 8: both started scaling at the same time. And actually that's
• 56:38
  Speaker 8: the I just remember. That's one of the reasons I
• 56:41
  Speaker 8: did decide to franchise, because I saw they were about
• 56:44
  Speaker 8: to franchise.
• 56:45
  Speaker 7: So I was like, I have to.
• 56:47
  Speaker 6: Do you think that the offer was low due to
• 56:49
  Speaker 6: the fact that you're an African woman.
• 56:53
  Speaker 8: I was gonna say, I hope so because it was
• 56:57
  Speaker 8: so low like that, I can't imagine, but I have
• 57:00
  Speaker 8: no idea. But the fact that I would not own
• 57:02
  Speaker 8: the franchise is what it was like. Hmmm, nah, I
• 57:06
  Speaker 8: can't just receive a check.
• 57:07
  Speaker 5: So okay, how much was.
• 57:09
  Speaker 7: It two hundred and fifty a year?
• 57:13
  Speaker 5: That was a buyout?
• 57:14
  Speaker 7: Yeah?
• 57:16
  Speaker 5: Okay, so all right, so this is very interesting before
• 57:19
  Speaker 5: taxes because all right, so.
• 57:21
  Speaker 3: You're doing one on one, right, I've never I've never
• 57:23
  Speaker 3: heard of a gym that does that before. But does
• 57:25
  Speaker 3: that limit you as far as the grow because how
• 57:28
  Speaker 3: many people can you?
• 57:29
  Speaker 5: Actually? How mean? Like how many rooms are?
• 57:32
  Speaker 7: So each location has like three to four rooms?
• 57:36
  Speaker 3: Okay, so yeah, do you think that? Have you ever
• 57:40
  Speaker 3: thought about opening it up? Because like yoga, right, and
• 57:42
  Speaker 3: when I go to yoga, it's like twenty people forty
• 57:45
  Speaker 3: people sometimes like huge, and obviously the more money and
• 57:48
  Speaker 3: more people more people, but obviously it's better to get
• 57:51
  Speaker 3: one on one.
• 57:52
  Speaker 5: That's great.
• 57:53
  Speaker 3: So have you ever thought about expanding and having more
• 57:57
  Speaker 3: people in classes? Like actual classes?
• 58:00
  Speaker 7: So we, yeah, we tried.
• 58:01
  Speaker 8: We did the classes and then we would pitch like, oh,
• 58:04
  Speaker 8: try one on one session, and so people from the
• 58:07
  Speaker 8: class would try the one on one and never go
• 58:09
  Speaker 8: back to the class. It was a different experience. So
• 58:13
  Speaker 8: if we have four rooms that are fully booked, it's more,
• 58:18
  Speaker 8: if not the same amount of money.
• 58:20
  Speaker 7: A huge class would take in.
• 58:22
  Speaker 5: Because it's.
• 58:25
  Speaker 7: Higher price Yeah.
• 58:26
  Speaker 3: All right, well that's important for people to understand because
• 58:28
  Speaker 3: you gotta know your price points. You got to know
• 58:30
  Speaker 3: it's you know, it's different ways to make money, right,
• 58:33
  Speaker 3: It's like it's like clothes. Right, you can make money
• 58:36
  Speaker 3: if your Target and you're selling genes for five dollars,
• 58:40
  Speaker 3: or you can make money if your sex fifth and
• 58:42
  Speaker 3: you're selling five hundred. Exactly, you're gonna sell less pair
• 58:46
  Speaker 3: of genes at SAX fifth, but it's higher price points. Exactly,
• 58:48
  Speaker 3: You're gonna sell more pair of jeans at Target, but
• 58:51
  Speaker 3: it's a lower price point.
• 58:52
  Speaker 8: We also we let our clients share their packages with
• 58:55
  Speaker 8: friends and family, so the packages run out faster.
• 59:00
  Speaker 3: Who's the target customers? It like wealthy people hire income
• 59:05
  Speaker 3: probably hire income people.
• 59:06
  Speaker 8: Right, So we have young athletes whose parents are like
• 59:09
  Speaker 8: a type personalities who want their kids to be the best,
• 59:12
  Speaker 8: the best, the best of the best. So we have
• 59:14
  Speaker 8: eight year olds that come. We have busy professionals, millennials
• 59:19
  Speaker 8: who have great jobs, but their bodies are shutting down,
• 59:24
  Speaker 8: so they come to us.
• 59:24
  Speaker 7: And we have baby boomers.
• 59:26
  Speaker 8: So right now, all all the companies are focusing on millennials.
• 59:30
  Speaker 7: How can we engage millennials? Millennials?
• 59:32
  Speaker 8: I don't know why people are so obsessed with millennials.
• 59:35
  Speaker 7: I'm a millennial.
• 59:36
  Speaker 8: We're not We're cool, But I'm just saying, like, but
• 59:39
  Speaker 8: people have forgotten baby boomers. So we've captured that audience
• 59:43
  Speaker 8: with our business and now they're all, what we sell
• 59:46
  Speaker 8: is youth.
• 59:47
  Speaker 6: We sell youth, and you have something that's measurable, So
• 59:51
  Speaker 6: that's that's important.
• 59:52
  Speaker 7: So they like that, right, Well, that's dope.
• 59:55
  Speaker 5: That's dope. So all right, so what's next?
• 59:58
  Speaker 3: How can the people contact you if they want to
• 1:00:00
  Speaker 3: open up a franchise, they want to partner with you?
• 1:00:02
  Speaker 5: Added, what's the deal with all your information?
• 1:00:04
  Speaker 8: So what's next? So we're working on expanding into other states.
• 1:00:10
  Speaker 8: We're just trying to have a local Kika stretch and
• 1:00:12
  Speaker 8: major communities as a center for people to just feel good.
• 1:00:16
  Speaker 7: I wish I brought my Matt You're gonna have to
• 1:00:21
  Speaker 7: come after this.
• 1:00:22
  Speaker 8: But just basically helping to improve people's quality of life.
• 1:00:26
  Speaker 8: So being that everything is about machinery and technology, we've
• 1:00:30
  Speaker 8: forgotten the importance of human touch and humans. So we're
• 1:00:35
  Speaker 8: going to constantly provide a human experience no matter what
• 1:00:38
  Speaker 8: throughout the time of technology. You can contact me on Instagram.
• 1:00:44
  Speaker 8: Let me say it real slow. So it's Kika I am,
• 1:00:47
  Speaker 8: so k I k A I am. You can email
• 1:00:51
  Speaker 8: franchise at Kika stretch Studios dot com for more information.
• 1:00:56
  Speaker 8: And we're just looking to change lives, really closing the
• 1:01:01
  Speaker 8: gap and just helping people gain generational wealth starting with
• 1:01:07
  Speaker 8: us today.
• 1:01:10
  Speaker 5: Thank you, thank you for coming housekeeping.
• 1:01:13
  Speaker 6: Yeah yeah, I wanted to give a big shoutut to
• 1:01:15
  Speaker 6: everybody on Patreon. Y'all know that that's our proud to
• 1:01:17
  Speaker 6: pay program. We had some new members. Shout out to
• 1:01:20
  Speaker 6: Patrick Chad, Shout out to the Marcus. He joined in
• 1:01:23
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• 1:01:26
  Speaker 6: him a few times this mom. Shout out to David
• 1:01:27
  Speaker 6: and Kimberly and Sheffield out in DC Chef. We let
• 1:01:31
  Speaker 6: you in on a on a few secrets of things
• 1:01:33
  Speaker 6: that we got coming up. So shout out to you.
• 1:01:35
  Speaker 6: So Patreon dot com Backslasharial Leisure. You can join at
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  Speaker 6: any tid you'd like. It's five different tiers and like
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• 1:01:47
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