Jack, Kenny and Bill discussed on Up Or Out with Connie


Is. Nice. Favorite success quote is. I hope my biggest failure is yet to come because otherwise I am no longer trying. Wombat. Of that about my process for evaluating opportunities. People, first business opportunity. Second. Market receptively or market interests. Third, all finance, financial ability meaning is our enough money to give the business the time it needs to succeed because being underfunded is one of the number one failures of business all k- K symphony questions. I am sure I did. Got my minutes in terms of, you know, looking turning that offense around from being a franchise to franchise, or they're things from a franchise were perspective that when you look across the multiple franchise worries at your worth win. You know he key differences that you might see between them. There are franchise oars that are very focused on their success as a franchise or and then there are franchisers that recognize the key to success is franchisees and that if they make their franchisees successful, they will be successful. And it's an attitude and you can tell pretty easily when talking to people which people are thinking. And a lot of franchise orders don't even know how profitable their franchisees are, which is a telltale sign that they don't care because remember franchise or gets royalty check whether the franchisees making money or not. And they can do things to improve volume that don't necessarily improve profitability. And if they're not really hyper focused on the franchisees, profitable. Ability, they're not gonna in the long run, be successful in K in, you know, I've always believed from a management perspective have measurements, and I know you talked about franchise tools, but what sort of measures typically Aren franchise agreements that or data that the franchise or is looking to get their franchisee besides that check every month. Well, a good franchise of good franchise or is generally going to have somebody take a personality profile test. That's going to help them understand if they have if they match the top court tile of their franchisees in terms of the right personality. It's tough for certain people to be good, franchisees it. You've got to be a team player, and if you're more of an individual player than you're not gonna succeed as as a franchisee in the franchisor needs to find that out. A good franchise or is, you know, it's interesting. They really can't help the franchisee build a budget because making a representation. But they can't see or know if the franchisee did Bill the budget and that that will tell you a lot. They need to also make sure that they properly represent the amount of capital it's necessary. Sometimes they try to make it look smaller than it really is. And then the person buys based on that, and then they don't have the capital to really run that business. And not all businesses. In fact, most businesses don't start off profitable day one. It takes them six months to a year or more and they need to, in fact factor that in. So you have to have the right NAFTA have the, they have to have not been able to just write the check. They have to have enough money to get the profitability. I, I like to call the today's to first dollar a prophet. And then then they have to have the right. They have to have the right personality to be a team player. Being a team player doesn't mean you have no ideas. It just means you know how to properly share them in a positive way or. Right. Absolutely. Yeah. Yeah. So and questions, you're good. You're good. Okay. Well, Evan, the final question I have for the hot seat is one. Will you ever be satisfied. That's a tough question. Done. Jack, you stopped me. That's a, that's a good hot seat. Question. I'm going to answer this, oddly. Okay. I'm already satisfied or Kenny. And I, I believe that there are people that say, when I get to hear when I get to this financial security when I get, I get to this when I when this I can finally be happy. Right? And I believe in enjoying the journey and I'm very impassioned by what I do because I help small businesses be successful, and I love doing that and I love the impact that I have on people, and I enjoy that every day. So I'm already happy already satisfied. I mean, I love that. I mean, you could definitely definitely tell that it is. So what is your truth that that that north star that keeps you going.

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