The Power of Franchise Consulting: Making Smart Decisions with Erik Van Horn

July 10, 2024 00:36:09
The Power of Franchise Consulting: Making Smart Decisions with Erik Van Horn
Create Wealth Through Franchising
The Power of Franchise Consulting: Making Smart Decisions with Erik Van Horn

Jul 10 2024 | 00:36:09

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Hosted By

Kim Daly

Show Notes

In this episode of Create Wealth Through Franchising, Kim Daly and Erik Van Horn, an established figure in the franchising world, delve into the realm of franchise consulting. Erik shares his extensive journey, from his beginnings as a tax franchisee to becoming a leader in assisting emerging franchisors to scale their businesses. He discusses his strategic philosophy of semi-absentee ownership, highlighting the effectiveness of managing franchises remotely.

Together, they explore the critical role of franchise consultants in steering potential franchisees towards well-informed decisions. Erik emphasizes the importance of selecting the right franchisor, focusing on essential qualities such as leadership, robust support systems, and the potential for profitability. 

 

Also in this episode: 

 

About the Guest:

Erik Van Horn is a distinguished franchising expert with a diverse background spanning over two decades in the industry. Starting his career in his mid-twenties with a tax business, Erik rapidly ascended from managing individual stores to overseeing expansive networks. His roles have included franchisee, regional developer, franchise consultant, and franchisor representative, providing him with a comprehensive view of the industry. Currently, Erik is a partner at Front Street Equity, where he specializes in mentoring young and emerging franchisors to scale their operations and enhance enterprise value.

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Episode Transcript

[00:00:00] Speaker A: Welcome to american wealth enfranchising and Kim Daly TV. I am your host, Kim Daly. I want to educate, motivate and inspire your business ownership journey by interviewing business leaders, coaches and exceptional franchisees to learn their valuable insights and strategies that we can apply to our own business ownership dreams. Now onto the show. Welcome back to american wealth and franchise and Kim Daly TV. I am your host, Kim Daly, and I'm excited to have my longtime friend, Eric Van Horn, who is back, we believe, for a daily triple. Eric, welcome to the studio of Kim Daly TV. [00:00:47] Speaker B: Kim, so good to be back with you on the three. Pete here. Hopefully, hopefully it's not two. So good to be here with you again. [00:00:55] Speaker A: Eric is a rock star in franchising. If you don't know Mister Van Horn, I'm going to let him introduce you a little bit about his background and about what he's up to today. But he's going to share just golden nuggets of information because he has represented all sides of franchising from franchisee level to RD level. He's been a franchise consultant at one little moment in his life. He's now representing franchisors at the franchisor level. So this guy has seen it all, done it all, knows it all, and I think he's going to be a wealth of resource for us today. So, Eric, with that introduction, why don't you tell my listeners a little bit about your journey in franchising and what you're doing today. [00:01:40] Speaker B: All right, I'll keep it pretty short. In my mid twenties, I started my first franchise. I was in the tax business. I was living in Virginia Beach. I started in Kansas City, had some success there, bought the regional development rights or the master rights to Austin, Texas for that brand. And we took that from four stores to 42 stores when about ten years later when we sold that. So the first ten years of my life was with one brand, both as a franchisee and as a master or regional developer. And then right after I sold it, I got involved with franchise because I was looking for my next brand that I wanted to buy as a franchisee. And so over the next probably five years, I got started in probably five or six different franchise brands as a regional developer or a franchisee. And I did all of this semi absentee. I always had operating partners in all of my businesses. So the next five years, I accelerated a lot, had some really good exits, had some challenging times in there, too. So not everything was turning to gold. So I learned a lot. I was also the consultant at that time, helping friends of mine look at franchises, to buy franchises. And I really dove deep into that world. I loved it. Also in that time, in the very beginning, I had sold franchises. I was on the franchise sales team, the what we call the franchise development representatives. A lot of my career in franchising has been selling franchises. So I know a lot about that. I did that as a consultant, I did it as an employee. And then I started a franchisor with two guys did that, sold that to them. They're still running with that. And then right now, with my three other business partners over at Front Street Equity, we help franchisors who are young emerging brands under 100 locations open. We help them grow and scale, create enterprise value in a compressed timeframe. So that's the quick version. Kim, how'd I do? [00:03:37] Speaker A: That's amazing. And I'm going all the way back. So I met Eric when he was Liberty tax Austin, Texas. Like, we've been together. You were in your twenties back then. Both of us started when we were very young, little children. [00:03:51] Speaker B: Yeah. [00:03:51] Speaker A: It's so fun. Yeah. So I love it. So do you see why this guy is, like, on my show? Because I know, you know, that I bring you the best people in franchising. And when I say franchising is about who, not what. It's people like Eric Van Horn that make franchising who not what. You can't just go find any brand because you're passionate about the yogurt or you love the service. You have to find people that have depth of knowledge and experience, like Mister Van Horn, because the failure rate on the franchisor side people is very high, especially before 100 units. I just saw on a video last night on Instagram, is this a true fact, Eric van horn, that only 3% of all franchisors get to 100 units? [00:04:44] Speaker B: It's something like that. It's a number that's a little scary out there. So many. Yeah, because it's easy to make it sound like you have something great. And so franchise. And then there's people that tell a small business owner, small medium sized business owner, that they have this amazing concept and you should franchise it. So they franchise it, and then they realize what franchising actually is. They sell five or ten or 20 franchisees, and then they don't know what they're doing. And then. So they never make it to 100. They go bankrupt, they fail, or they just never really support their franchisees in a meaningful way. So there's a lot that should be avoided out there in franchising. And then there's just a lot of pots that gold out there as well. [00:05:27] Speaker A: That's awesome. It's why we're, we've both been in it for so long. And a couple of things Eric didn't say is, well, he sort of said it. I love Eric because he's always been, like, the investor model, the leader, the CEO, not the hands on Doer, unlike Kim Daley. So I love that. And he always invests in businesses. Like, he lives in the middle of nowhere, right, in South Dakota, and he's like, owns businesses in Orange county and Austin, Texas. And so for those listeners who are like, I want to be semi absent, or can I own a business in a state I don't live in? I think Eric, like, let's start right there with just a little bit of, like, what have you learned about opening businesses and markets you don't live in? And even in partnerships? Let's just talk about those two little doozies. And then we're going to get to. We said we would talk about today. [00:06:14] Speaker B: So part of the reason that I've done that and I've invested out of state and have business partners and, like, that semi absentee model is because I do live in the middle of nowhere. We have, like, an 80 acre hobby ranch out here in a town of 10,000 people on a gravel road. And I have friends coming over this Saturday to have picnic and paintball. I got a bunch of paintball guns and I got a perfect place for it. So I'm like, my friends come over with their kids and we just have a blast. That's my life. I cannot grow large businesses here in franchising. So that's why I've always chosen, like, Austin, Texas, or Orange county or La county. Not a huge fan of California anymore. But there's. I like to go where the business has the best chance for success and I can expand that business. So that's why I've gone out of state. And looking back, that was the best thing I've ever done accidentally because I live here and it allowed for a life, more of a lifestyle. And now I'm so grateful that I did that. But there's certain brands that you can do that with, and there's certain industries that kind of lend itself to it. And I've always looked at franchise Ors. Is somebody actually doing what I want to do in that business? Are they owning it semi absentee? Cause there's a lot of brands out there that say they're semi absentee and they don't even know what it means. They just know that it helps sell more franchises. They'll have consultants that are new consultants out there. They've never been through a recession. They've never had feedback five or ten years later from their franchisees. They just like the franchise or tells me it's semi absentee. They tell me I can run this 5 hours a week and they tell me it only costs this minimal amount of money. So I'm going to go all in. And then two years later they're like, I was sold a dream and it was never reality. So it's important for me when I look at a franchise, if I want to invest as a franchisee, that people are actually doing it and there's longevity, longevity there to the brand. And the founders are amazing. I always look at founders and I want amazing founders, both as a franchisee and as an investor in franchisors brands that we want to take to market. The founders have to be amazing. So I've always had business partners and some of them have been great and some of them have not been the best. And so you learn with everything. But I think to kind of sum all of that up, Kim, I went to California in a business called Solar Salon Studios. It's in the salon suite concept and there's multiple good salon suite brands out there. And it's not just one. I want to make that clear. Then there's some that aren't so great as well. But I chose Orange County, California because I knew we could grow and expand in that particular market. I knew I could do a couple on my own, but I also knew I could do a dozen if I had some more business partners. So I knew some people that had been in franchise systems with me in the past and I said, hey, why don't we do this together? So tip number one, they lived in market. I like it when my partners live in market or they're able to travel to that market with, you know, in just one flight and they know that market. So that was important for me in that business. I had two business partners that lived in market. One was fairly close. So we went in there and we did really well. The first location was average. The second location was a dog. Like we were losing money. And if I had stopped with that second location because it was losing money, I would have never had a large exit to private equity like I did. So im so grateful that I already had location number three in construction. It was the most expensive location that we ever did. It was the largest location, but we opened up like at capacity, and it was making money from the day that we opened, and it never stopped making money. With that, we just learned a few things and we ended up going to twelve locations and sold that as a partnership. Another quick thing with partnerships, and then I'll let you pipe in here, is operating agreements are extremely important. They're always going to be things that you wish you would have done differently. But one of the partners almost stopped us from selling to private equity because he didn't want to for reasons that were not the best reason. He was a good partner, and said, well, the three of you really want to do it, then I will vote to do it. But he could have stopped the wholesale from going through. So you've got to pick the right partners. Like I said, I've had some amazing partnerships and I could talk for hours on partnerships. [00:10:45] Speaker A: That was awesome. We could do a whole episode on partnerships. I mean, literally, I could pick 1 minute subject with this man and he could go on for a whole hour. Like, that is the depth of resource I have for you here today on this show. But I just want to go back. Eric and I recorded his story with Sola salons because my followers know that I am the queen of the salon suite. I'm very partial to image studios, but back in the day, before we had image studios, we all had a giant run with solar salons. They are the McDonald's of the space. Yeah. So Eric has shared the full story on his ramp up and sell with Sola. You can certainly find that episode if you start scrolling backwards on american wealth and franchising was formerly called create wealth and franchising, but it's all right here on your stream. Okay, Eric, so what I wanted to do for this episode really is my listeners are people who are on the sidelines, right? Who are thinking about owning a business. But I'm scared, right? And so they listen to me until they just can't handle it anymore, and then they reach out. And then of course, you know, over the 20 years plus that I've been a consultant, I've created nearly 1000 franchisees out there, right? So, like, all of those people are tuning in and following me as well. So it's part people who want to be franchisees and part people who are franchisees. And I always, you know, want to speak to the person who is the franchisee who isn't yet realizing the dream. So I love that you said I opened two units, and if I had stopped there, I wouldn't have seen the fullness of what I realized. Like, that alone is like, oh, that's a short. That's golden. So let's speak to that listener as a franchisee, as a candidate on the sideline, what advice, if you could give one golden nugget of advice to that person who's sitting on the sideline thinking, should I invest in a franchise? Go, Eric Van Horn, go. [00:12:45] Speaker B: Oh, I thought you were going to go a different direction on. Let me give a quick tip to the franchisee right there. You started to go, like, with a franchisee that isn't maybe realizing the dream yet, and this might be the reason that people are not taking that step that you were just talking about. They're sitting on the sideline because of fear, because of the fear that the dream might turn into a nightmare. So that franchisee out there, if you are not realizing the dream. At Sola, I knew the franchisees were making money. I knew it wasn't immediate, but I knew that they were making money. And so I knew that the responsibility was on me to be successful and not just the franchisor. We weren't going to rely on the franchisor to handhold me all the way. So we, when we had that one that was not doing very well, and even the first one, that was average, because we didn't want to be average. Like none of us, the four partners, wanted to be average, and then we definitely didn't want a loser. So then we started to talk to all the franchisees that were making money. So franchisor helped, but we reached out to franchisees, and I think that's advice for any franchisee. If you are not doing what you want to do in the business, don't talk to people that are not doing what they want to do in the business that aren't successful, that are complaining, just reach out to the ones that are making money. Doesn't matter. There's always going to be something different. Oh, they've been in it longer. They have a better market. They're this, they're that. They have the right manager. There's always reasons and excuses why they are doing better than you. Drop all that, go in there with an open mind, go visit a handful of them and see what they're doing that's different than you, because they are doing something that is different than you are doing. And so many people will go into a meeting like that or a phone conversation like that, and they use it as a checklist validating everything that they're doing. Oh, I have an open sign on. Oh, I have my hours the same. Don't look at the things that you're doing right, look at the things that you're doing wrong and dive into those and change those things. So that's what we've always done in any business that I've been a part of. If I'm not as successful as I want to be, that's step number one, is find out what I am not doing that the other successful franchisees are doing. [00:15:06] Speaker A: It's amazing. And it speaks right to the heart of the value of a franchise, is that you were in business for yourself, but not by yourself. So, summarizing what he said, he said, accountability. And use the system. Use what you're paying for, which is the collective consciousness. Like, there are people there who want to help you. And franchisees who are successful are happy to share. We're not competitors when we're together. Except for Eric Van Horn and Kim Daley when we were both franchise consultants. [00:15:34] Speaker B: I'm just kidding. [00:15:35] Speaker A: I'm just kidding. [00:15:36] Speaker B: You are always better than me. [00:15:38] Speaker A: No, I was always better than you were. Yeah, whatever. [00:15:41] Speaker B: Maybe that one time you weren't, but you were my mentor. You're my hero. You still are. [00:15:46] Speaker A: Right back at you. No, no, no. We came at our business from different angles, so. But that's just the thing. So. Okay, that was awesome. And we're going to come back. Actually, the question I asked you for, the person on the sideline, let's save that for the doozy at the end because I love where you took that. So since we're talking about being a franchise consultant, so many people out there who are looking at franchising are using a consultant. I hope they're using a consultant. If not Kim Daley, a good franchise consultant. [00:16:15] Speaker B: No, no, no. One of the best. [00:16:17] Speaker A: Thank you. Therein lies the question. Like, I have a candidate right now who. And, you know, this is kind of common sometimes. He went out and then he emailed me and he was like, oh, I'm looking at all these companies. I could tell by the companies, he was working with another consultant. So I said, hey, are you working with another consultant? And he was like, yeah, he didn't do it maliciously. He just didn't understand that. Like, that's basically stealing from Kim Daley. I mean, that's how I make a living. So once he realized it, he retracted it all, and he was like, no, no, because I was like, look, I'm stepping out. I don't want to step on another consultant's toes. And then he was like, no, no, no, you're the consultant we want to work with. I said, well, then let's corral this, you know, so when you're a candidate out there, give the people some advice on how to select a good consultant and first the value, and then how do you find a good one? [00:17:12] Speaker B: The value is incredible. So anytime I say consultant in this conversation, it is a top ten consultant, a good consultant, because there are hundreds of bad ones. So I just want to make sure that that's clear. So the value in a consultant is they know things about brands that you will never know. They don't know everything, but they know things about brands that you'll never know. They don't need the commission. Like, that's not going to change their lifestyle. It's not going to be meaningful to them if you buy or don't buy because they don't need that money. That's one point. They love to help people, and you are that person that they love. For the time that you're working with them and they care about you, they will steer you away from brands that are not going to be beneficial to you. In addition to learning about good brands, staying away from bad brands is probably even more important. There are some great salespeople out there, franchise development people that work for some of the brands that are not the greatest brands. They'll be the nightmare for you, but they know how to sell, they know how to put things out there on social, they know how to talk to you, and that dream could turn into a nightmare real fast. Good consultants know those brands. All these good consultants talk to each other. They trade notes on brands that are starting to struggle. They know all the stuff that you don't know. They now, they might not tell you all this, like, hey, that brand struggling, and this is why, or blah, blah, they're just going to probably not show you that brand because you shouldn't waste your time with that. So a good consultant will save you a ton of time and help you with due diligence and help you get out of your own way. Everybody gets into their own way, whether you think you do or you don't. I know I do. Whenever I'd look at different brands at different times, I would get in my own way. And good consultants help you with that. And a lot of that's just called fear. And if you've ever worked with Kim, I'm sure you've talked a lot about fear, but that will stop a lot of people from living that dream. Having that lifestyle that they want that franchise to give them. So it's invaluable working with an amazing consultant. They don't work with every brand, though. So the fear is, oh, I have fomo with all of these other brands out there because somebody says they work with 10,000 franchise brands and I want to have access to 10,000 franchise brands. No, you don't. Or worst case scenario, let's say there was a great brand that you didn't get shown, because the truth is you don't work with every single brand out there, and there's some good brands that you don't work with. That's okay. Like, don't worry about fomo. Fear of missing out. Worry about getting a handful of brands in front of you with someone that can guide you along the way and help you with thorough due diligence. [00:20:19] Speaker A: Hey, daily coach fans, if you're ready to begin your own journey to find the perfect franchise, please email me right now at inquireimdaily TV. My services are totally free for you. That's inquiremdaily TV. Now back to the show. Amazing answer. So how does one find a good franchise? How do you know the difference between a good franchise consultant and a not so good franchise consultant? Eric, not to put you on the spot. [00:20:52] Speaker B: Well, my litmus passed. When I would work with anybody, it was for me. Do you have $100,000 liquid? If you don't, might be able to work and find you something, but 100,000 liquid capital, you put it into it. Are you ready to buy in the next three months? If you find the right one. And then are you working with another consultant? Are you working with somebody already? If it's a yes to any of those, they're not working with me. That was just super clear. So I think good consultants kind of find out if you're working with another consultant and if you are, like, I would say, you just keep working with them. I'm not going to get involved because then some of these not so great consultants will just try to sell you and they will show you more concepts, clog your head up, because they're just hungry for the commission and they're just casting a wide net and hoping something sticks and hoping that you buy that thing that they threw out there, what you're dealing with, you're probably not working with a great consultant. So that's how you understand if you're working with a great consultant. They say, I only want to work with you. You say, I only want you to work with me. People get like, oh, it's like getting married. I don't even know you. You want to see what else is out there. But I would have that conversation with that consultant, and they should have stuff out there on social media. I think they should have stuff out there like you do. And you're able to talk about things, and not just in writing, putting things out there in writing, but you're able to talk about things on the fly and add a lot of value. And you have a history of franchisees going full cycle. I think one of the best questions somebody could ask a consultant is how many people have purchased a franchise from you or not purchased franchise for me. Have you helped find a franchise? And how many people have come back and bought a second one? Or those come back and bought a second or third territory? Like, I would just have a number on that. If nobody's coming back, if people are coming back to buy more, that's amazing. You know, the other thing that you might want to do, Kim, is have your own net promoter score. Like, if you had your own net promoter score, then you could say, here's my net promoter score. Who else has a net promoter score out there and what is it? So I think that would be interesting because we love it when we talk to brands that become portfolio brands at Front street when they have high net promoter scores. [00:23:19] Speaker A: I don't have a net promoter score, but I have over 1005 star reviews on my website. So how does that account for a net promoter score? [00:23:28] Speaker B: Eric, that's awesome. Yeah, I mean, the point of it is you've been with someone that has been in the game for a while. It's like real estate, that mortgage brokers or agents were a dime a dozen during COVID Now they're nowhere to be found that the strong ones are still there working. Same with real estate agents, same with franchise consultants. When there's a boom, you got mortgage guys and the real estate guys and gals, and they become franchise broker guys and gals, and then, you know, then they realize, well, you know, I'm not going to be in it for the long haul. You want somebody that's been in it for a while and is going to stay in it for a while, and they have a list of clients and customers and people that they've worked with that love them. That's how you find a good consultant. Not because someone tells you they're a good consultant. You want other people to tell you that they're an amazing consultant. Very, very good. [00:24:23] Speaker A: Very well stated. I love that. Okay, well, I have two more questions, so let's flip over to you as franchisor now. So now that you are in the game looking for good franchiseors to bring to market, it's the same question. How does a candidate in process looking at a franchise know this is a good franchise? Or. [00:24:44] Speaker B: Yeah, this is the same thing. Like, you know, I look at brands now much more like I would as a franchisee wanting to get into it versus just like, can this thing sell a bunch of franchises? Because there's brands out there that could sell a bunch of franchises, but they are probably going to sell to private equity pretty quickly and nothing. Have a really strong franchisee base. And when I say strong franchisee based, I mean franchisees that are making money year over year, increasing their business. So when I talk to franchisors, I want an amazing founder because they're the leader, they're the leader for the next five years, and then they can choose to sell or not sell. So I want an amazing leader, someone that's dynamic, someone that it's their life. Like, they love the brand that they created, they're passionate about their brand and they're building something special and they believe in it. And they've opened up locations and continue to open up locations. And maybe they pull back because they're focused more on the franchisor versus open up corporate locations. But the passion is like, they want to open up more locations. Same thing as a franchisee. Franchisees are open up more locations. That's healthy. So amazing founder. And then I think something that's unique about it and that's really hard in franchising to find something unique. It might be unique lead generation, it might be unique product or some type of moat around it. So not every brand's going to have that. There's some, they're me too brands, and that's okay. That in the salon industry, there are me too brands in the salon suite industry that are great brands. Sola was an amazing brand. I loved Sola. You talk about Image studios, great founders, great brand. So like, that's a me too solo was probably a me too to something else. So they didn't have, you know, some emote around them, but they had great founders, great leadership, and same thing with image right now. So I look for that and I look for founders that are franchisee focused. Not in words, because every franchise founders franchisee focus when it comes to, you know, video clips and all of these other things, internal conversations that franchise wars have with their team or advisors like us or an FSO. I want those conversations to be focused, like, how do we increase franchisee revenue and increase their net profit? Those are conversations that we have with our brands every week. How do we increase franchisee revenue and how do we help them become more profitable franchisees? Because if you do those two things, they're going to open up more locations, which increases enterprise value. And you don't have to train and find more franchisees because you're expanding from within. So I love franchisees that are continuing to expand because franchise, or is probably doing something right, or they just found lightning in a bottle. I don't know. [00:27:33] Speaker A: That's awesome. Oh, my gosh, it is so good. You are so raw. I'm like, over here, if you're not watching the video, I'm smiling from ear to ear, shaking my head the entire time, going, go, Eric, go, Eric. I'm spurring them on. So good. It's so good. All right, so ultimately, my podcast, all the content that I produce, is to inspire the person on the sideline. Eric, look, I'm a franchise consultant. I want to help as many people as I can. Come to the reality of business ownership. I firmly believe business ownership is the only way to true freedom, personal, professional and financial freedom. You're not going to find freedom like that in a nine to five. You're not going to find it even in passive investments long term. But oftentimes when we're first starting and we're making that transition, we need business cash flowing returns from active investing that then we use the cash flow to then put into passive. It doesn't always have to go that way, but that's the fastest way, in my experience, to get there in the business of a franchise buys down the learning curve of owning that business. Right. Rather than being an entrepreneur. So I can greatly shrink the amount of time it takes a to get to scale, which is, of course, where the wealth is created. That is the topic always. And so, Eric, your last piece of advice for this amazing interview with you today is the person on the sideline who's sitting there, who's goes back toggles, back and forth, well, what if it doesn't work? And then they get excited because they get pain in their job, and then they go, well, what if it doesn't work? What advice do you have for this person today? [00:29:11] Speaker B: What's the worst case scenario? What if it doesn't work? Don't bankrupt yourself. Find something that if it doesn't work, you are not bankrupt. But you took a chance. And like Kim, I just came back from two weeks in DC and New York City with my family, and we decided to go kind of spur of the moment. And I'm around in DC, we're around a group of other business owners. It's such a different conversation that we get to have as successful business owners. Like, everybody's making seven figures a year there in net profit. We have different sets of problems. But that sounds exciting to you? That sounds like I want freedom and money and leverage my time because I still kept getting money. No matter what I'm doing, that just continues to come in because I have franchises right now. Kim, I was getting messages from a franchise that I and start that is opening in Baltimore. When I was in DC, my operating partner was there working. I never went to see him because I was busy doing family stuff. And that's the way the relationship set up. He's working, I'm an investor, and he's like, this thing's going amazing. He's like, we have x amount of new customers. Oh, we just had this grand opening or this thing just, we had a problem over here. But this is what I told my manager to do, and this is how many new customers we got because we had to pivot on something like, that's awesome. I love being away wherever I am and having these businesses continuing to crank out money. I say all that to be like, if you're on the sidelines today, you're going to be on the sidelines five years from now, ten years from now, and looking at your vacation time. I don't even know what vacation time is like. If I have certain allotted days that someone tells me that I could take vacation, like, that's insane. To, I would be at the point right now, Kim, if it was me risking everything, going back to zero, I would risk it today to have the life that I have today on business ownership. Like, that would not even be a question for me. I would risk it all to better myself and do it again versus going to work for somebody else, having to have this consistent paycheck or, you know, salary with bonuses and have limitations on me. That sounds horrible. Like, I could never, ever do that. I would go back to zero today and betting myself again in a heartbeat. So, like, if you're okay being on the sidelines ten years from now, nothing changes, then just stay there, don't do anything. But if that's not okay with you, then bet on yourself. Find the good brand, go all in enough where it doesn't bankrupt you, and, you know, your family's left with nothing. That's my advice. I don't know if that's advice that you would give, but that's my advice. [00:32:03] Speaker A: It's awesome advice. I mean, look, both of us have built our lives in franchising multiple businesses. Both of us have had successes. Both of us have had some not so good successes. I'm not going to call them failures because the failure is when you quit. Right. Just because it's hard. Just because his first two solas weren't as successful as he thought they were going to be. He didn't quit. That's why he got the big exit, because he kept going. So when you sit on the sideline and you toggle with yourself about the what ifs, that's all you can do. But even as a business owner, you're in here and you can say what if? But I'm not going to dwell on the how it's going to go wrong. I'm going to sit here and put my time and energy into how do I make it go right. You get on the phone and you start validating with other franchisees who have figured out how to make it go right. That's the greatest thing. You're in this for yourself, but not by yourself. You're surrounded by amazing people. And every single listener out there, let's be real, including Kim Daley, wants to be like Eric Van Horn. This guy has got it mastered. He's got it figured out. I'm so glad that and honored that he gave us, you know, over 30 minutes of his time today to share just amazing, amazing wisdom. Thank you, Eric, so much from the bottom of my heart for all of your time and all of your wisdom and your just your, your great ambassadorship in franchising, the role model that you are for all of us, the freedom that you preach, I mean, it's just inspiring in so many different ways. Like, you're amazing. I've known it from day one. I hated you when you were at franchise. I'm just kidding. I loved you and hated you all at the same time because he's so good. He's so naturally gifted at business. You're like, but you got to have friends like this. Who are your friends and your frenemies, right? Because they make you better. He makes me better just by being his friend, because I want to be like Eric Van Horn. So for those of you who are inspired, as I am inspired, and you are ready to stop toggling, stop fighting yourself, just get in the process. Let's learn, let's get educated and let's find out if franchising could be a place for you. Please reach directly out to inquire at Kim Daily TV. That's inquire at Kim Daley TV. Eric, I don't know if I said bye to you, but thank you again so much for being our special guest here today. [00:34:25] Speaker B: Kim, you are amazing at what you do. You always have been. Like, I didn't think you could get any better at what you do. But the value that you give your audience, people that you work with, like, that's what makes you special. You truly care about the people that you work with. That is very rare out there in the consulting world. Today, you are one of the most knowledgeable franchise consultants in the world. And I think anybody that has the opportunity to work with you and you don't even charge them because consultants don't charge. Like, they should consider that a gift and they should be honored to work with you. And so, like anybody that is out there on the sideline, Kim, from the bottom of my heart, is like one of the top consultants out there. You need to be working with her. [00:35:20] Speaker A: Hey, everybody, until next time, my name is Kim Daley and I want to be your daily coach. You can find more content just like this on my YouTube channel at KimDaily TV. And if you're inspired to take the next step to explore franchises matched to you, please email me right now at enquireimDaily TV. That's enquireimdaily TV.

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