DESCRIPTION:
Jonathan Lippincott, a franchisee of 7 Brew Coffee, shares his journey from owning a Planet Fitness franchise to his current role. Initially, he pursued a degree in exercise science with plans to apply to the Air Force, inspired by his father, a fighter pilot and later a Delta Airlines pilot. However, he realized he was competing against highly accomplished individuals for Air Force pilot slots. While working at a hospital and managing a fitness center, he connected with a group of men at a church in Conway, Arkansas. They worked out together at a new gym, 10 Fitness. Intrigued by the business model, Lippincott asked the owner numerous questions about the gym’s operations, sparking his interest in franchising. He then contacted Planet Fitness corporate, filled out a form to assess his net worth, and despite knowing little about franchising, signed an agreement with the brand. However, finding a suitable location for his gym proved challenging, taking about 24 months. The head of real estate at Planet Fitness supported him during this time. Finally, he leased a vacant building in Jefferson City, Missouri, once occupied by a national retailer. The credibility and brand recognition of Planet Fitness played a key role in securing the lease. Despite facing challenges and fear, Lippincott was determined to succeed and opened his Planet Fitness gym for presale in November 2013.

With Jonathan Lippincott


TIMESTAMPS (Use ChatGPT on Transcript):
0:00 - Introduction
0:25 -Background: From Air Force Aspirations to Fitness
1:00 - Inspiration from Father’s Career
1:45 - Challenges and Realization in Air Force
2:30 - Discovery of Planet Fitness and Fitness Career
3:15 - Curiosity about 10 Fitness Business Model
4:00 - Life-Changing Encounter with 10 Fitness Owner
5:00 - Realizing Potential of Fitness Business
5:30 - Introduction to Franchising
6:00 - Reaching Out to Planet Fitness Corporate
7:00 - Discovering the Franchise System
8:00 - The Process of Signing the Franchise Agreement
9:00 - Facing Challenges and Failures
10:00 - The Struggles of Finding Suitable Locations
11:00 - 24 Months of Struggle and Setbacks
12:00 - The Help and Support from Planet Fitness
13:00 - The Miracle Location in Jefferson City
14:00 - The Power of a Franchise in Securing a Lease



LINKS:

WEBSITE: http://franchisehotseats.com/
LinkedIn: https://www.linkedin.com/in/drjohnhayes/
Twitter: https://twitter.com/drjohnhayes
YouTube: https://www.youtube.com/c/Howtobuyafranchise
Instagram: https://www.instagram.com/hayesjph/
TikTok: https://www.tiktok.com/@johnphayesfranchise
Pinterest: https://www.pinterest.com/DrJohnHayes/
Facebook: https://www.facebook.com/franchisehotseatpodcast

DESCRIPTION:
John Hayes hosts another episode of The Franchise Hot Seat with guests Kristi Mailloux and Todd Recknagel, members of the Titus Center Advisory Board. The couple has 30 years of experience in franchising and private equity and have been involved in numerous businesses.

Mailloux shares her journey into franchising, starting with an entry-level role at Molly Maid, a maid service franchise, after graduating from the University of Michigan with a psychology degree. She spent 20 years at Molly Maid, working in multiple roles and eventually becoming the president.

Recknagel, on the other hand, started as a banker and investment banker before co-founding a mezzanine fund. He later bought a group of Blimpie stores and became the largest franchisee.

The couple's company, 320 Capital Group, named after Ephesians 3:20, invests in equity and debt and lends to companies. They prefer businesses with a repeat recurring revenue model and the potential for scaling.

They have impacted at least 15 companies as managers, partners, or investors, including Blimpie, Molly Maid, Mr. Handyman, 800 Dry Clean, Pyro Clean, Ducks, Massage Envy Group, Sola Salons, and Office Pride. They have completed ten investments in the last five years, including two big platform deals in 2022 and 20 transactions within Massage Envy to grow from 28 units to 131.

With Todd Recknagel and Kristi Mailloux

TIMESTAMPS (Use ChatGPT on Transcript):
00:00 - Introduction
01:57 - Kristi's Journey into Franchising
03:25 - Todd's Path to Franchising
05:15 - 320 Capital Group and Private Equity
08:45 - Impact and Success in Franchising
24:41 - Balancing Marriage and Business
37:22 - Faith and Franchising
38:59 - Future Plans



LINKS:

WEBSITE: http://franchisehotseats.com/
LinkedIn: https://www.linkedin.com/in/drjohnhayes/
Twitter: https://twitter.com/drjohnhayes
YouTube: https://www.youtube.com/c/Howtobuyafranchise
Instagram: https://www.instagram.com/hayesjph/
TikTok: https://www.tiktok.com/@johnphayesfranchise
Pinterest: https://www.pinterest.com/DrJohnHayes/
Facebook: https://www.facebook.com/franchisehotseatpodcast

DESCRIPTION:
Andrija Čolak, a Croatian entrepreneur and franchisor, is the guest on the Franchise Hot Seat podcast. Known as the new hope of Croatian entrepreneurship, Čolak has been in the franchising business for 15 years. His brand, Surf'n'Fries, which sells French fries, became popular quickly, leading to the decision to franchise the business. Čolak's entrepreneurial journey began when he was 22 years old, after studying marketing in Canada. He started a real estate guide company in Croatia, which was successful and eventually sold in 2008. Despite initial success, Čolak experienced failures and near bankruptcy due to market changes and competition. Surf and Fries started in Rijeka, Croatia, and quickly impacted McDonald's fries sales, leading to a 50% loss. The brand's unique packaging and the concept of walk and eat, repeat led to its popularity. Currently, Surf and Fries has more than 40 locations, with 80% being mobile units. Čolak won the International Franchise Association's next-gen franchisors award in 2015. Despite interest from the US, Čolak explains the challenges of bringing a Croatian based franchise to the US, including heavy regulations and costs. He suggests that international brands looking to enter the US market should first establish directly owned units in the US before franchising.

- With Andrija Čolak


TIMESTAMPS (Use ChatGPT on Transcript):

00:00 - The New Hope of Croatian Entrepreneurship
03:10 - Pioneering Franchising in Croatia
06:20 - From Real Estate to Franchise Success
10:05 - The Birth of Surf’n’Fries
13:40 - An Unexpected Demand for Franchising
17:30 - Entrepreneurial Lessons Learned Along the Way
22:00 - The Rise and Struggles of Surf’n’Fries
25:15 - Unique Packaging: A Marketing Win
28:50 - Going Mobile with the Brand
32:10 - Mobile Units vs. Brick and Mortar
36:00 - International Recognition with Next Gen Franchising
39:20 - Expanding Surf’n’Fries Globally
42:45 - Challenges of Entering the U.S. Market

LINKS:

WEBSITE: http://franchisehotseats.com/
LinkedIn: https://www.linkedin.com/in/drjohnhayes/
Twitter: https://twitter.com/drjohnhayes
YouTube: https://www.youtube.com/c/Howtobuyafranchise
Instagram: https://www.instagram.com/hayesjph/
TikTok: https://www.tiktok.com/@johnphayesfranchise
Pinterest: https://www.pinterest.com/DrJohnHayes/
Facebook: https://www.facebook.com/franchisehotseatpodcast

In this video, you will learn:

1. What are the common pitfalls that can derail a franchise's real estate strategy? John Hayes and Jonathan Hill delve into the top issues that franchises face, including the dangers of overselling territories and the importance of tracking sold territories' behavior.

2. How can too many cooks spoil the broth in the decision-making process? Jonathan Hill highlights the confusion that can arise when too many people are involved in decision-making, and how this can negatively impact franchisees.

3. Why is aligning with the market crucial for franchises? Discover the potential problems that can arise when franchises do not align with the markets in which they are selling territories, and the importance of having a contingency plan in place.

4. What is the risk of putting all your eggs in one basket in real estate? Jonathan Hill warns against falling in love with one space, as competition for that space might be fierce.

5. How can franchisees prepare for the real estate selection process? Learn about the importance of being ready to present oneself effectively, and the key documents that franchisees should have at their disposal.

6. How does Morrow Hill assist franchisees in navigating the real estate selection process? Get an inside look at how Morrow Hill helps franchisees present themselves effectively and navigate the real estate selection process successfully.

- With Jonathan Hill

◽️◽️◽️◽️◽️◽️
Get access access to my free DISC assessment to help you improve communication, collaboration, and self-awareness: https://form.jotform.com/221653801409149

Check out the FREE Franchising Skool community: https://www.skool.com/johnhayes/about

◽️◽️◽️◽️◽️◽️
Find me at

WEBSITE: http://franchisehotseats.com/
LinkedIn: https://www.linkedin.com/in/drjohnhayes/
Twitter: https://twitter.com/drjohnhayes
YouTube: https://www.youtube.com/c/Howtobuyafranchise
Instagram: https://www.instagram.com/hayesjph/
TikTok: https://www.tiktok.com/@johnphayesfranchise
Pinterest: https://www.pinterest.com/DrJohnHayes/
Facebook: https://www.facebook.com/franchisehotseatpodcast

Where to find Jonathan Hill & Morrow Hill:

Instagram: @morrowhillcre
Facebook: @MorrowHillCRE
Linkdin: https://www.linkedin.com/in/jonathanhillmorrowhill/
https://www.linkedin.com/company/morrow-hill-cre/

#FranchiseRealEstate #CommercialLeaseNegotiations #RealEstateStrategies

DESCRIPTION:

John Hayes, host of the Franchise Hot Seat Podcast, interviews Jeremy Pourbaix from Franchise Flippers. They discuss the challenges and rewards of franchising, with Pourbaix stating that while many people have the desire to own their own business, it is not the right path for everyone. He identifies a lack of education as a key issue in franchising, as many people do not fully understand what it entails. Hayes agrees, noting that he spends a lot of his time educating people about franchising, both at the Titus Center for Franchising at Palm Beach Atlantic University and through an online community.

They discuss the importance of understanding whether you are suited to franchising before buying a franchise, and the potential problems that can arise if you do not. Pourbaix shares his own experience as a franchisee, having bought his first franchise territory at the age of 22 with his father. They grew their business to between five and seven locations over the course of 15 years, before selling for over a million dollars. Pourbaix describes his franchising journey as a success, but not an ""off the charts"" success.

Pourbaix's experience selling his franchises led him to create Franchise Flippers, a platform for buying and selling franchises. He emphasizes the importance of having a supportive franchisor, citing his own positive experience with John Hewitt from Liberty Tax Service. Hewitt will be the keynote speaker at the upcoming Selling Franchises Summit at the Titus Center. Pourbaix concludes by saying that every franchise owner will eventually reach a point where they want to move on, and that it is important to be prepared for this.

-With Jeremy Pourbaix.

TIMESTAMPS:
00:00 - Introduction
02:30 - Is Franchising for Everyone?
05:00 - Challenges in Franchising
07:30 - Educating about Franchising
10:00 - Pressure and Misconceptions
12:30 - Problems with Franchise Purchases
15:00 - Transition to Franchise Flippers
17:30 - Jeremy's Franchise Journey
20:00 - Growth and Development
22:30 - Liberty Tax Service
25:00 - Mentorship from John Hewitt
27:30 - Selling Franchises Summit
30:00 - Importance of Franchisee Support
32:30 - Awareness of Franchise Success Rates
35:00 - Franchisor Involvement
37:30 - Selling Your Franchise Business
40:00 - Financial Outcome
43:00 - Final Thoughts


LINKS:

WEBSITE: http://franchisehotseats.com/
LinkedIn: https://www.linkedin.com/in/drjohnhayes/
Twitter: https://twitter.com/drjohnhayes
YouTube: https://www.youtube.com/c/Howtobuyafranchise
Instagram: https://www.instagram.com/hayesjph/
TikTok: https://www.tiktok.com/@johnphayesfranchise
Pinterest: https://www.pinterest.com/DrJohnHayes/
Facebook: https://www.facebook.com/franchisehotseatpodcast

DESCRIPTION:

Pat Rossi, a franchisee of ImageOne and member of the Titus Center Advisory Board, was interviewed on Franchise Hot Seat. Rossi, originally from Montreal, Canada, moved to the United States on an E2 investor visa. He was introduced to the idea of investing in a franchise by broker Daniel Purim at a conference in Orlando. Rossi already owned a commercial cleaning business in Canada and was looking to expand into the United States, particularly Florida. He connected with Daniel Purim from Franchise Wizards who recommended the E2 visa, which allows him to invest in a company and live and work in the United States. Rossi chose to invest in a franchise rather than start his own business due to the lower startup costs, proven business model, and ability to hit the ground running. He invested close to $100,000, which included the franchise purchase, hiring an employee, purchasing materials, and putting money in the bank for cash flow and capital. He chose Florida due to his love for the state from childhood vacations and the pro-business environment. Despite challenges such as establishing a credit score, Rossi found it relatively easy to launch his business in the United States.

- With Pat Rossi.


TIMESTAMPS:

Introduction and Welcome (0:00)
Pat Rossi joins Franchise Hot Seat
Brief introduction of Pat Rossi's background and his connection to the Titus Center Advisory Board
Initial Meeting and Background (1:10)
Mention of the conference in Orlando
Introduction of broker Daniel Purim and his role
Decision to Invest in a Franchise (3:00)
Pat's decision to pursue the American dream
Background on Pat’s commercial cleaning business in Montreal
Why Not Expand in Canada? (5:00)
Pat’s rationale for investing in a franchise rather than starting from scratch in the U.S.
Franchise vs. Starting a Business Independently (8:00)
Comparison of costs and benefits between franchising and starting a new business
Choosing ImageOne (10:30)
Pat’s process in selecting a franchise
Interaction with Daniel Purim and the selection of Image One
E2 Investor Visa Insights (12:30)
Overview of the E2 investor visa and its requirements
The role of legal advisors in the visa process
Investment Details (15:00)
Breakdown of Pat’s investment amount and use of funds
Attraction to Florida (17:00)
Reasons for choosing Florida for business
Pat’s personal connection to the state
Challenges of Starting a Business in a New Country (20:00)
Difficulties encountered when starting a business in the U.S. from Canada
Closing Thoughts and Thanks (22:00)
Final thoughts on the franchise experience and acknowledgments



LINKS:

WEBSITE: http://franchisehotseats.com/
LinkedIn: https://www.linkedin.com/in/drjohnhayes/
Twitter: https://twitter.com/drjohnhayes
YouTube: https://www.youtube.com/c/Howtobuyafranchise
Instagram: https://www.instagram.com/hayesjph/
TikTok: https://www.tiktok.com/@johnphayesfranchise
Pinterest: https://www.pinterest.com/DrJohnHayes/
Facebook: https://www.facebook.com/franchisehotseatpodcast

[SHOWNOTES]

TITLE: New Franchise Broker Laws - With Sarah Davies

DESCRIPTION:

Sarah Davies, General Counsel of the International Franchise Association (IFA), discusses the proposed Model Franchise Broker Registration Act by the North American Securities Administrators Association (NASAA) and the California Senate Bill 919. Both pieces of legislation cover the same territory, focusing on registration and disclosure requirements for third-party franchise sellers. The IFA worked with the California legislator to introduce Senate Bill 919 in January, proposing registration and disclosure requirements for third-party franchise sellers. Meanwhile, NASAA has been working on its Model Broker Registration Act for several years.

Davies explains that the term "third-party franchise sellers" encompasses franchise brokers, franchise sales organizations, and franchise consultants. Currently, there are no educational or registration requirements for franchise brokers. The IFA supports education for franchisors and has resources and tools available for this purpose.

The IFA is supportive of increased transparency in the franchise sales process as part of its overall initiative around responsible franchising. Senate Bill 919, which requires franchise brokers to provide disclosure information, has passed the Senate and is currently before the California Assembly. If passed, it will require the governor's signature to become law, with a proposed effective date of January 1, 2026. The disclosure required for franchise brokers is straightforward and basic, including contact information, professional experience for the last five years, litigation history, services performed for clients, a general description of the compensation structure, and franchises sold in the last year.

NASAA, while not a rulemaking body, has issued statements of policy or commentary to clarify disclosure obligations under the franchise rule. These guidelines are then adopted by states, either formally or informally. Franchisors, for the sake of having a single Franchise Disclosure Document (FDD), generally comply with NASAA's commentary. - With Sarah Davies.

TIMESTAMPS:

00:00 Introduction: "Sarah Davies is the General Counsel of the International Franchise Association..."

01:05 Discussion on Senate Bill 919 and NASAA Model Franchise Broker Registration Act.

03:08 Overview of Senate Bill 919 and NASAA's initiatives.

05:18 Definition and role clarification of franchise brokers.

07:10 Requirements to become a franchise broker.

09:00 Lack of current regulations for franchise brokers.

10:20 Support for increased transparency in franchise sales.

12:15 Status of Senate Bill 919 in California.

14:30 Effective date and preparation time for Senate Bill 919.

15:55 Extensiveness of disclosure requirements for franchise brokers.

17:40 Submission process and potential fees for registration.

19:05 Responsibilities of franchisors under Senate Bill 919.

20:20 Role and function of NASAA in franchise regulation.

22:00 Relationship between NASAA and the FTC.

LINKS:

WEBSITE: http://franchisehotseats.com/

LinkedIn: https://www.linkedin.com/in/drjohnhayes/

Twitter: https://twitter.com/drjohnhayes

YouTube: https://www.youtube.com/c/Howtobuyafranchise

Instagram: https://www.instagram.com/hayesjph/

TikTok: https://www.tiktok.com/@johnphayesfranchise

Pinterest: https://www.pinterest.com/DrJohnHayes/

Facebook: https://www.facebook.com/franchisehotseatpodcast

Where to find Sarah Davies:

DESCRIPTION:

Alicia Miller, founder and managing director of Emergent Growth Advisors, discusses her book, Big Money in Franchising, and the role of private equity in the franchising industry. She highlights the success story of Tropical Smoothie, which grew from 315 to 1400 units through private equity partnerships. She also discusses the Dwyer Group, a home services giant, which transitioned from being publicly traded to partnering with private equity.

Miller points out that 700 franchise brands have partnered with private equity companies, with at least 2 trillion dollars available for investment in franchising. She explains that private equity in franchising began in the 1990s, with significant growth after the 2009 financial crisis. She emphasizes that successful private equity partnerships in franchising focus on franchisee satisfaction and investment.

There are 5,000 registered private equity firms in the United States, with 1,400 having invested in franchising. These firms often specialize in certain sectors or stages of brand development. Miller advises emerging brands to be prepared before engaging with private equity firms and to consider the implications of losing decision-making authority. She reassures franchisees that initial private equity transactions usually align with their growth goals.

-With Alicia Miller

TIMESTAMPS:

00:00 - Introduction of Alicia Miller and her background in franchising and private equity.

01:15 - Example of Tropical Smoothie's success with private equity, including recent transactions.

02:00 - Discussion on the Dwyer Group and its transition due to private equity involvement.

03:00 - Acceleration of private equity interest in franchising post-financial crisis starting around 2009.

04:30 - Challenges faced by publicly owned franchise companies with shareholder interests.

06:00 - Overview of the number of private equity firms and family offices in the United States.

08:00 - Potential conflicts between franchise operations and private equity decisions.

09:15 - Specialization of private equity firms in franchising and specific investment criteria.

10:30 - Exploration of how private equity firms actively seek out emerging franchise brands.

12:00 - Dynamics between franchisors and private equity firms in brand acquisition and growth strategies.

LINKS:

WEBSITE: http://franchisehotseats.com/

LinkedIn: https://www.linkedin.com/in/drjohnhayes/

Twitter: https://twitter.com/drjohnhayes

YouTube: https://www.youtube.com/c/Howtobuyafranchise

Instagram: https://www.instagram.com/hayesjph/

TikTok: https://www.tiktok.com/@johnphayesfranchise

Pinterest: https://www.pinterest.com/DrJohnHayes/

Facebook: https://www.facebook.com/franchisehotseatpodcast