Episode Transcript
WEBVTT
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It's time for another episode of Franchise
Business Radio Show Broadcasting live their probos is
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channel studios in Atlanta, sponsored by
franchise intellect. Knowledge of the franchise community
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for franchise selection. More Info at
franchise intellectcom, also made possible in part
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by franchise dot city, a better
way to buy a franchise. More Info
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00:00:21.190 --> 00:00:26.219
at franchise dot city. And France
serve the world's largest franchise consulting and expansion
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00:00:26.219 --> 00:00:31.500
organization. More Info at Frand servecom. Now here's your host, certified franchise
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consultant, Pamela Curry. Welcome to
another great episode of Franchise Business Radio.
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This is your host, Pamela Curry. Along with me I we have two
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guests on the show today. Very
excited about that. We Have Jeff Cona
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pack with Deck Medic which is a
unique home improvement franchise and a business that
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someone can actually get into under a
hundred thousand and we're going to dive into
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that and learn a little bit more
about it. And when we think about
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investing in a business, we have
to think about what is going to be
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our investment strategy. How are we
going to go about funding it and I'm
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excited to say we have a return
gast Larry car now with Ben at trends,
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and Larry's going to educate us on
the different ways and funding programs that
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Ben a trends offers. With that
being said, I do want to share
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with our listeners what is the mission
of the Franchise Business Radio Show. It
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is to have a platform to bring
business professionals together to connect, educate and
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collaborate to serve the franchise community and
those considering franchise ownership. Let's go ahead
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and welcome our first GAFTS, Jeff
Cona Pack. Jeff, welcome to the
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franchise business radio show. Thank you, Pam. It's good to have you.
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Like to tell our gets a little
bit about you and your background.
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Jeff is the VP franchise development for
deck metic and it's my understanding that you
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had some great influence on them actually
franchising their business. If you want in
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mind, just share a little bit
about your background and how you got involved
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with Dack metic. I'd actually start
off while in college working for one of
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the Howex Pam, kind of a
studio franchise. When I graduate, I
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didn't like it. I like dealing
with customers. I like the customer service
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side of it. So I opened
up my own company and I did that
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for almost twenty years. Got The
point where we had our second child and
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you don't own a business, it
owns you, and my wife said,
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you know, we need some more
time here with me and a new baby.
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So I had known the guy that
owned the step back and one that
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owned both my secorating and they all
gown collect right at the time and we
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would be talking. Will you know
people at the paint store. So we
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send some time together and he decides
to buying my business by me out.
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I went to go work with him, but I quickly found out that I
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don't like working for the so so
that after I don't like Mike. It
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just it don't pay a prefer being
my own boss. So well, we
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end up doing was going through and
in the time I was there for the
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painting, I was, you know, nosing around. I saw that he
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had a deck. Same companies are
looking at those numbers over the winner and
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I point out some things we could
do to change it makes better. So
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you let me take get run with
it. As we were, try and
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grow. We, you know,
try and grow and add people in different
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officers in Chravel and area. For
the problem with employees is that they're really
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focused on their check in two weeks, whereas with the deck restoration business just
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we want to have customers come back
in two years, and so we just
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felt that the best way for us
really grow was with owers, people who
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had, you know, skin in
the game, people who were focused on
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a long term both of their particular
business, not employees who are just worried
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about not getting in trouble and getting
paid every Popley. The big difference between
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doing a job good enough to get
paid on a job another bit of concentration
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where you focus on the homework,
with the customer service and make sure they're
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happy enough not only pay now but
to actually pay us again in two years
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and two years later to you after
that. So we started to go this
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route. It did take some time, longer than we thought. We did
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have doing the thing we weren't happy
about at the time, going from death
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rights to deck metic, but as
it turned out we spent two years fighting
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it for no reasons to everybody like
SEC metic better kind of says, what
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if you do better than that?
Light is so well, since finally,
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two thousand and sixteen, we have
the opportunity to, you know, offer
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our first FDD and start franchising.
It's just for or that we think,
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but you know, we really like
it. We're happy with the guys we
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have. You know, they're all
people and their ten people and we're just
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work with them closely on their businesses. Were small with fourteen franchises in now,
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but we've already got three more set
up for next year and then hopefully
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we're having in a few more.
They coming on board next year. I
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like to get at least twenty next
year. But you know, I like
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it. You know I mean I
like the fact that I owe my own
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panthers, get to be at and
I'm good at it, and I used
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to think that experience and all that
knowledge and share it well all the other
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arms and they all are really good
about hearing with one another and helping each
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other out. If we have protected
territory, there's no over you know,
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competition within an area. You guys
are fighting for a CONDO. Associates are
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management company or an insurance company,
you know everything. Everybody just works within
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their own little borders and then help
each other outd we're more for family and
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planchise and I like that. So, Jeff, you're really hitting on some
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really, I think, interesting points, for for any business that starts off
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are you start off as as a
founder. You're refining those proven methods of
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operation and then you determine, hey, let's go ahead and we want to
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grow our concept and we want to
do it through a franchising strategy, which
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obviously you started back in two thousand
and sixteen to make that happen, and
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only a couple of years ago.
So you are what I would classify,
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as you know, an emerging franchise
opportunity and definitely fulfilling sort of unique niche
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in that space. Would you go
ahead and tell our listeners what exactly does
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DECK MEDIC DO? I don't want
to just depend it on the name.
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I think it's a great brand name, but what is it that you offer?
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Well, any kind of outdoor wood
restoration. I'll see, deck their
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main focus, especially in most of
the markets were in. You know what
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we do. Senti late said Bergliz
Z bones, wood, furniture, log
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cabin would sighting. If you got
an oil be saying on there. We're
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at pains, but anything that's kind
of a scene on it. We be
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clean it and we say it for
you. With outside, you don't do
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inside forward and like that, we
focus only on the exterior product m when
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then, in addition to that,
I'll see where there we have all the
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equipment, we are all the chemicals. So we offer a lot of car
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walking services as kind of an ant
on where will do a quote and then
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I'll say, you know what,
we can wash your house for another three
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hundred so and they're like pointer purchase
bale is else requis day or the concrete
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clean or favorite patio cleaning. So
we offered those services as well. Tak
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Care of hardscapes as well as the
softer would tape that are out there.
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But obviously the main focus what we
do will specialize and we really suff for
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separate customer rails. Is only our
process for deck resuation, but also the
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products that we use, which are, we feel, a superior to everything
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else is out there. That's great, and I just kind of tourist because
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I know you do have a focus
more, like you said, on the
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exterior, is does this business then
lend itself to certain geographical markets or seasonalities?
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You know, we're like I'm here
in the Skyland market and where we've
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got maybe a seven month of your
season. We do have guys that can
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Christmas flights over the wintertime and as
we be struck shocked you what we would
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pay to have the Christmas lights put
on in a coal weather climate up Noor
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and then have a come back and
think him down in January. We have
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a one of our franchise owners over
in northwest Indiana originally started getting into cristic
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size to keep his deck, saying
guys busy over the holidays. Well,
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now we make so much money doing
Christmas flight and now he says he keeps
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the deck business to keep this Christa
size guys busy for seven month a year
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in the summer. So it's just
you know, I like the season alley
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of it. I like having that
I work really hard for even the nine
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months a year and make a really
good living doing it, and then I've
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got your full months a year that
I can take off. Now we have
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franchised down in North Carolina. They're
working eleven months a year and so they've
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get they still take off of like
mid December off for the holidays, come
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back with the first home shows that
January and then go at it again.
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They have a longer season. They
can get more work done with your guys
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if your vehicle. But you know, again, I've always been here in
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Illinois and so I kind of like
the fact that, you know, we've
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got this window to really push it
hard. Worse, we're more of a
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sprint, must of a marathon down
in sound stop with thin work here around.
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That's be more of a marathon for
a whole year. We've got to
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get it done while we have the
sunny days. We have maybe a hundred
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sunny dry days a year here.
So we get we really rock and when
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we can, and I like that. Push. Push, Push, and
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then we're off. You know,
I usually go, you know, the
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guys will go from east to Thanksgiving. Usually I'm trying to be done by
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thanksgiving. Sometimes weather laws go past
that, but we're just finishing things up
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that I'm off for the holiday.
We have a place down at fifty floor
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where I get to go and I
don't do the Christmas lights. Me Personally,
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I'd rather hang out at the beach
in Florida on January rather than hang
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off a ladder pulling frozen lights out
of a mother gutter, what is a
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fifty degrees out and startle it.
But that's just me, a little crazy,
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you know. But you we have
open for what what people can do.
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So, yeah, basically they can
do other things where they still piling
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or Christmas light or what I do. I mean our franchise do very well.
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I mean you'RE A to go a
millionaire, but they make a good,
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good living doing what we do and
you do work a years our worth
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of hours in those that much we're
kind of like teachers, but just kind
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of a little bit of a reverse
schedule. That's funnish should say that and
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then, yeah, I was just
I was just thinking that that was sort
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of fun. You said that.
I was that kind of kind of kind
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of thought me to myself. It's
kind of like a teacher schedule. Let's
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talk about the UNCUSTOMER, will quick
now. I know most of your customers
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are home owners, but do you
have some franchisees that not only do be
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to see, meaning business to consumer
or homeowners, but what about be to
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be business to business? Do you
have any customers that are actually businesses?
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Yeah, it'cus you a lot of
restaurant that have would deck that are out
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there were a certain complies with a
lot of times we're out there doing it
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at night or on holidays in the
clothes of actually kind of take advantage of
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it. Has covid experience with we
were busier than ever with every by the
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kind of se question at home looking
at the decks, our phones are ringing
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out the hook. Clearly didn't affect
our business other than in a positive way
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where we super business, but it
did give us the opportunity now with a
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lot of businesses were shut down and
what a lot of customers. So we
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went through and we're doing quite a
few restaurants where they got that out there
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of oar and they weren't worried about
having it cod that area closed off for
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certain amount of time. The other
thing we do a lot of, and
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that we're real popy this, is
the Condo Association. Just because there they
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want somebody that knows what there doing
and we've we known it for thirty years.
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They want to company that's legitimate and
ensured. All of our are workers
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are pay rolled employs. We don't
stubb. Then neither workout. And you
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know, when we offer great services, when we go to a Condo Association
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we're not a company that only does
big count associations where we don't treat everybody's
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individuals. Our main focuses to the
residential homeworker. So when we go there
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we may be dealing with a management
company and handling ninety eight units that time
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through in a Condo Association. We
still like to go through and we'll treat
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each every each of those ninety unit
owners as end of the your homeworks and
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be nice and polite in that and
move through furniture, the need to help
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them out, you know, clean
your window. You know, one thing
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I like about my employees is that
I focus and make sure of Nice Times,
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because we're in somebody's home. We're
not in their home, but we're
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after all, we're in their back
yard. You know, I want people
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with work for me that I would
feel comfortable having around my wife and my
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children. Sure, and so they're
nice guy. So they come out there,
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they're happy to do it or they
like dealing with the customers and mean
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even though they're out they have a
job to do. It my job to
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do the quotes and deal with the
deal with the customers and the scheduling,
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communication the customs. There a lot
of times talking to them. Want to
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see the process, what's going on. We're big in the repeat business,
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so I go lot of my way
to time make sure I send the same
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team back to read that back in
two or three years when it's time.
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Amazing, coach. No, most
of my team Mus have been here several
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years and so they've seen the same
job and they go back and the customers
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know them. They always will call
request them, and so it says.
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You know, it's almost like a
route, and that really like a you
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know where they're going every day to
think door for dropping off ponents, but
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it's where they get to know that
customer, to know that where the house
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is, they know where the water
is, you know that the gate is.
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So you know it's can be for
them and homework. You appreciate it.
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So will we do cut alsociations?
People like the fact that our guys
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who are all you know, there
and they're more used to the customer service
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that required of a service company of
the House makes sense. So No,
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I can definitely see the appeal and
I hear the excitement in your voice around,
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you know, around the business itself. I mean there are a lot
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of great value points that you've already
mentioned the B Toc, as well as
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to be to be not only recession
proof but also pandemic prove, the repeat
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business, and you know all of
those. I guess all of those items
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are very, very appealing to many, many different business owners. I do
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want to talk about what does it
mean to be an operator, because you
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kind of were hitting on that.
Is this when you classify as an executive
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model, where you are working on
the business and not in the business?
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Talk to us a little bit about
the day in the life of a franchise.
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We prefer, and again we're open
to all times. You know,
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we've got some guys that are we
clactified man in the band where they like
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going out, they like doing the
work, or they're in a market where
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it's just not that many people and
so they're in the van doing quotes in
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the afternoons or these are weekends and
actually producing the work and stuff. I
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have five tea I don't have time
to do ways. I don't really do
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my own deck. My guys who
go wh it because my wife is like
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to wash it and then we're so
busy and make first thing because we just
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don't have a time. You know, we're always so busy from spring.
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Most of the owners are more like
me where they're owner off where they're the
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one who will go out and,
you know, make sure the marketings being
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done again for corporate coup to all
that stuff. But they do the marketing,
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they go out and Speedu the appointment
they want to do the quote.
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We have software that they use for
yes, many process we in a normal
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year we always prints both right there
in the trucks and the driveway and then
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walk quite back up to the front
door with a quote and more than half
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time will walk out with an obviously
this year's been a little difference because of
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everything going on early on with the
covid stuff. So you know we were
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doing more email quotes than we would
normally do. I've heard a come out
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meeting. You take a look at
the back, right up the quote and
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the driveway, Walk Right back up. Here's your proposal. But this year
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we did do a lot more email
folks. But then the owner is doing
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the quote. Yes, the sales, he does the scheduling, he does
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interviewing, the hiring, the schedule
of the work and the workers. He
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makes sure that you know he knows
the people. You get. You got
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a guy to stray to heights,
you not going to send him to a
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Belty, you know, or to
a curve of around and said when of
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the other guys that are better at
those kind of jobs? You know,
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you have a job that's got favorite
Patios all around it. That's got to
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be neat. We send your neater
team there, maybe one of the other
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teams so somewhere else. So that's
part of what the job isn't you're doing
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pay roll and the WES ATP but
you still that a processes the hours and
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yearning right. You know, do
payables and billables and kind of wearing all
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the ants and you see boma watcher
as well as the chief executive, you
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know, and so you've got to
be able to handle all that's going to
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be good communicating. Got To be
good with talking to the whole order and
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explaining our process. I mean,
we have too much work. We never
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have to really work hard to sell
it. We don't. We always believe
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it's underselling and older delivering, but
it's educating them what it is that we
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do. Are Five supposes were known
for. Why we feel these steps are
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important. lets the homeworn to make
that decisions from the self if they want
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to pay the extra premium and have
us do the work. And then you've
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got to also still be able to
deal with all of our blue color work,
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you know, and deal with the
usues that they're dealing with and you
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know the different models. You're trying
to make sure in Tyson to come in
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and make you they're working every day
and you know, you get that text.
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You know, I can't come in
today. I mean my mom reminded
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the court. You have to say, well, you're thirty five, living
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at home. Why are your mom
telling you? You that court, this
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one that's to deal with your roll, you know. Yeah, just make
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sure that you know you've got that
ability and you have enoughing to where the
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vehicles leave the park and let every
day and they go out and they get
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jobs for you, rightly and you
hit. You cannot be type A personality
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with the schedule set because, against
God, a Mother Nature will laugh at
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your schedule in own way. But
yeah, you got to be a little
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roll with that. So that's that's
really what the role is. Your kind
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of complus you're doing. You're touching
at all aspects of the business. Sounds
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like no thank you for that.
That really gives some great inside and a
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snapshot of what it would be like
to be a franchise of deck metic and
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and with that being said, I
think one of the other value points that
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I made on the front end of
the show is that it's no affordable business
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to get into for a single unit. What is your estimated initial investment for
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a perspective franchise? A me brandnew. It doesn't have a trucker van already.
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You know in a lot of people
already have a pickup that they can
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use, but it's supposed to be
don't usually we tell everybody all in bide
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about only five Tho. That'll still
leave you with plenty of money left over
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to cover the initial build. You
can get buy with a real asifty because
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you've already got a pickup truck or
something you use for business that you would
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turn around and put our logos and
get the wrapping done and go from there.
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That's some that the territory see.
Is Thirty seven five, but beyond
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that you just need, you know, equipment inside the van. We have
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package this set up with Herm we
ams and with our own equipment to go
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with everything going and then you got
have a vehicle and get a wrapped and
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the money for initial marking cost to
get up and going. You really just
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need to get, you know,
kind of started. Each one of our
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jobs tends to replace itself. Everybody's
looking for a good contract, everything,
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for a good deck guy, and
they see it's the neighborhood. We'll have
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very visual with our logos and our
our vehicles and a long times and every
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job. So people see us and
they always come it over asking how a
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how they do and all they're great. You need to give a call and
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each one of our jobs tend to
replace itself. We just really need that
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initial push every spring to get out
there in the out on the road work.
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Ye, now, thank you.
Thank you very much sharing that.
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And just to kind of wrap up, I I do want to tell our
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listeners that you also have a proprietary
product. I know that you make your
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own hundred percent oil based stain.
So obviously that is a unique differentiator for
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00:20:49.200 --> 00:20:53.400
tech meatic and if anyone is actually
interested in learning more about dechmatic, obviously
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they can contact me and I will
get them in touch with you if they're
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interested in learning about what it would
be like to become a perspective franchise z
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thank you so much for sharing,
Jeff, what a great affordable heart improvement
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concept. And just kind of talking
about an investment budget. You know,
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whenever anybody is considering a franchise or
becoming a business owner, one of the
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number one things that they need to
take into consideration is is how am I
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going to go about funding it?
What aligns for me, what is going
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to be a wise investment strategy for
me if I want to become a franchise
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owner? With that being said,
I'm in a segue in tour expert that's
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going to talk to us a little
bit about that. Larry Carnew, with
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Ben a trance. Larry is actually
returning guests. Hey, Larry, last
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time you're in the studio, yes, but what times have changed and now
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we have you as a virtual guest. But it's great to hear your voice
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and I'm really excited for our listeners
to get educated by you because because you
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are just a wealth of knowledge when
it comes to funding and what is a
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wise investment strategy. Just to give
everybody a little bit of a backdrop on
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Larry, he was a former N
AE entrepreneur of the year recipient and International
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National Award winning franchise expert and speaker. He Has Been Fortune magazine top one
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hundred most admired company award winning advisors
and national trainer. And he we like
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to call him Mr Robs and,
and we're going to get into that and
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why. He's the person who helped
first introduce retirement asset funding to the business
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and franchise community decades ago. Don't
date yourself there, Larry, but definitely
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definitely nationally recognized as a subject,
madge, subject matter expert, lecture and
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Speaker, and I know you have
helped thousands and thousands of people by selling
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design exit strategies for their business,
and that's what we're going to dive into
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today. So listeners, tune in
if you're trying to think about what would
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be a wise investment strategy. Larry, can you kick us off and tell
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us a little bit about Ben and
trends the company are with? Yeah,
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Ben Frames has become the nation number
one one stop funding resource in the country
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for the franchise and business community.
We're actually the only funding resource ever endorsed
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by the International Franchise Association. That's
somewhat unusual because the IFA is always taking
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the position to be neutral. But
when the funding community collapsed a decade ago
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and on top of that with what's
happened with Covid, they realize without reliable
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funding that they cannot advance the business
or franchise community. And in a national
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survey they found that we had extremely
high setisfaction rates from more importantly, we
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had an extremely high approval. Right
now, when you go to local lenders,
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local lenders are denying as much as
sunded eighty percent of startup loan and
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it's taken as much as twice as
long as get alone approved is want to
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get even six months ago. Having
a reliable resource that will maximize your potential
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to obtain capital and, more importantly, provides you multiple options. Rising one
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option say thank on. Having multiple
options to provide a combination of funding resources
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to help you get approved maximizes your
potential to obtain the necessary capital to acquire
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the business you're looking at. Then
a trends provides all kinds of something SBA,
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micro loans, unsecured SCREWTYBAC when being
leasing. We also Pi and pioneered
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00:24:52.789 --> 00:25:00.069
the program that allows you to use
or time funds packed penalty debt free called
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rainmaker plan, that forces the government
to assume the fifty percent of the financial
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risk of starting a business, and
a new program called the rainmaker's band plan
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that allows you to buy a business
and never pay taxes. Ever, on
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the game, as an Award Winning
Entreprenur, entrepreneur and background counting and finance,
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it's my belief it's not how much
wealth accumulate, why, it's how
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much you keep. This is the
primary mistake that I see from people started
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businesses years ago when they go to
sell the business, because I didn't think
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about their exostrands either, only focused
on funding, they end up giving hundreds
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of thousands of dollars away to the
government that they could have avoided if they
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had had a conversation with us on
the prom wow, yeah, great.
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So, Mr Robs, I don't
I don't want to throw around the rob's
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acronym too loosely. Can we,
for for our listeners, explain what we
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mean by robs and then I'd like
to dive into, like you said,
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the ringmaker program as well as the
ringmaker advantage plan. But First, what
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is ROB's mean? Robs or rollover
for business start up it's the ability to
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use pretax retirement pack penalty debt free
to start a business. The very first
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business that ever started using that program, the very first franchise business acquisition,
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was actually one of my plan I
was not an employee of Demos. I've
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been an award winning entrepreneur franchise expert
when I learned about this program and I
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felt it would revolutionize the way the
program would help people get into business from
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more importantly, helped him keep the
wealth that they accumulated. In my opinion,
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right now, because of what's happening, it's not how much wealth you
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accumulate again time much to keep them. Some things happening that could adversely affect
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your ability to protect yourself, your
family and your children down the road.
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So this is a program design to
help you not only fund the business.
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This program can also be used in
combination with a funding ups and such as
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unsecured funding or the small business administration
loan, to help you leverage a larger
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business, business acquisition and forever protect
that well beyond the grave and Menicke.
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MM So, I know. Thank
you for that, by the way,
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very, very helpful and I want
out just also let our listeners know that
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the world over program is only if
it is retirement funds from a previous employer,
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not a current employer. Is that
correct? Generally that's correct and less
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you have an issue where you work
for the past employer and you roll funds
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into the current employer's planning. Any
money you've made from a pass employer you
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can still use and be aware with
the Care Act covid situation. There are
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ways to access those. The time
funds if there's been some adverse effecting the
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family because of COVID. Either you've
had a spouse and it's been laid off
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and be the wanted you have physically
gotten the covid virus. There are ways
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of activity, even funds with current
employers and not to go into all those
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details. You have questions. Pus
to leave it out to me and I
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can tell you how to do that. Excellent. No, thank you for
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that. I know things are always
shifting, especially in our environment today.
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Tell us a little bit about the
rain maker advantage plan. The rainmaker advantage
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program is a program I helped introduce
that has some very significant advantages over the
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traditional labs program or will we commonly
refer to as our basic rain maker plan.
390
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This program is literally preferred as much
as four times more than the basic
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00:29:15.690 --> 00:29:21.250
labs program and the law program has
become one of the fastest run form of
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funding in the tentry first of all, the robs program has several advantages.
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Both of these programs have several advantages. First of all, that are totally
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get free funding. There's no loan
payment, no interest payments. A twenty
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year stayed by the Department label found
people use strictly bank financing through out of
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business in five years, but people
using the wild program or the new rainmak
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00:29:48.029 --> 00:29:55.700
advantage program they're still in business five
years later. Literally there's because there's less
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00:29:55.819 --> 00:30:00.859
dead there's a shorter time to fossibility
and instead of a fifty percent, say
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00:30:00.900 --> 00:30:03.420
your right, ninety percent of those
people are still in business five years label.
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That's pretty significant. The biggest event
both of these programs is a creed
401
00:30:10.529 --> 00:30:17.250
of vehicle where the entire business is
ask that income in future appreciation becomes of
402
00:30:17.329 --> 00:30:21.720
retiment plan asset. This is extremely
important in a lot of things that have
403
00:30:21.880 --> 00:30:26.599
happened since the turn of the century. The fastest growing elosion of wealth and
404
00:30:26.759 --> 00:30:33.960
projected to accelerate in the future or
healthcare related issues, bankruptcy due to healthcare
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00:30:34.039 --> 00:30:37.069
related issues. That this triple since
the one thousand nine hundred and ninety.
406
00:30:38.269 --> 00:30:44.309
If you structure a business strictly with
cash or a bank loan, the entire
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00:30:44.509 --> 00:30:48.710
business, its assets, income in
future appreciation can be seized by credits.
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00:30:49.180 --> 00:30:53.539
But we can show you how to
use a minimum of tenzero dollars create a
409
00:30:53.619 --> 00:31:00.259
vehicle where a hundred percent of the
business and appreciation, even after the businesses
410
00:31:00.420 --> 00:31:06.170
so, is protected for the surviving
battles and children. The rainmaker advantage program
411
00:31:06.369 --> 00:31:11.009
is quite different from the rainmaker of
basic labs program in that the WOB program
412
00:31:11.170 --> 00:31:18.119
uses pre tax dollars. The rainmaker
advantage programs converts part or all of your
413
00:31:18.160 --> 00:31:23.480
retirement funds to a wall retirement plan. Let's say, for simplicity safe you're
414
00:31:23.519 --> 00:31:30.799
buying a hundredzero dollar business. You
can take, with Nettles, tenzero dollars,
415
00:31:30.440 --> 00:31:37.509
combined with cash and a bank loan, convert the TENZERO dollars to a
416
00:31:37.630 --> 00:31:44.430
walk vehicle, combine that with tenzero
dollars in cash and buy a business financing
417
00:31:44.589 --> 00:31:48.140
rest to a bank one. We
take the cash, by all the common
418
00:31:48.220 --> 00:31:52.700
style. I'm sorry, we take
the retirement from by all the common stole
419
00:31:52.460 --> 00:31:56.980
any cash we put in the business. We buy preferred style. Now we
420
00:31:57.140 --> 00:32:02.049
fast forward sell that business down the
road from me and dollars this program,
421
00:32:02.210 --> 00:32:07.769
because of business, is now owned
by a walk retirement plan. It has
422
00:32:07.930 --> 00:32:13.849
several distinct major advantage. Number One, a hundred percent of the game of
423
00:32:13.930 --> 00:32:19.240
that business is now considered tax free. What would normally cost you hundreds of
424
00:32:19.319 --> 00:32:24.039
thousands of followers and taxes. You, your spouse, your children will never
425
00:32:24.160 --> 00:32:32.549
pay tax. More importantly, creates
the vehicle where the wealth is protected for
426
00:32:32.670 --> 00:32:37.950
the rest of your life. Money
when the traditional IRA is only protected to
427
00:32:37.069 --> 00:32:42.910
your seventy two years of age,
then the government forces you to take the
428
00:32:43.029 --> 00:32:47.420
quid minimum distribution at seventy two years
of age, forces of money. How
429
00:32:47.660 --> 00:32:53.420
the protection of the retirement plan into
an unprotected checking are saving account at a
430
00:32:53.539 --> 00:32:59.369
point in your life where you're at
the highest rift of having these major personal
431
00:32:59.529 --> 00:33:05.009
ibility issues. Fact, experts have
shown we will spend more money the last
432
00:33:05.049 --> 00:33:08.490
two years of our aliance at seventy
eight hundred, seventy eight, seventy seven,
433
00:33:08.609 --> 00:33:15.200
seventy eight years age of our ages
in auto pocket expenses and we will
434
00:33:15.400 --> 00:33:20.359
spend the entire previous seventy five to
seventy six years of the life. So
435
00:33:20.519 --> 00:33:28.029
it becomes very important to have lifelong
wealth protection with this program through all the
436
00:33:28.190 --> 00:33:32.829
time plans are never said to require
minimum distribution. If you live to be
437
00:33:32.910 --> 00:33:37.630
a hundred years of age, this
wealth is forever protected for you, your
438
00:33:37.710 --> 00:33:43.099
spouse and, more importantly, for
the children. If the money was in
439
00:33:43.180 --> 00:33:49.180
a traditional Iray, children are often
in they're late s when their parents passed
440
00:33:49.259 --> 00:33:53.339
away. When that happens, according
to pay scalecom, the children aren't their
441
00:33:53.420 --> 00:33:58.769
peak income peak tax rate. If
they were inherit a million dollars from the
442
00:33:58.970 --> 00:34:02.490
time plan, you push them into
the highest tax bracket, they have literally
443
00:34:02.650 --> 00:34:08.010
lost potentially half of their inheritance.
But with this program a hundred person of
444
00:34:08.090 --> 00:34:14.480
that inherent more than twice inheres and
goes directly to the children. The other
445
00:34:14.760 --> 00:34:20.039
major advantage is that right now we
have the lowest tax rates that we've had
446
00:34:20.280 --> 00:34:23.630
in the probably the past forty to
fifty years. Now is the best time
447
00:34:23.710 --> 00:34:28.869
to convert retirement funds to a wall
theater. Now. When you do that
448
00:34:29.269 --> 00:34:32.269
you avoid the ten percent early withdraw
all penalty. If you have to pay
449
00:34:32.309 --> 00:34:37.829
the taxes on that conversion. So
if you convert tenzero dollars and have a
450
00:34:37.949 --> 00:34:42.659
two thousand, all of a tax
fill from afable next year, but a
451
00:34:42.699 --> 00:34:47.380
hundred percent of the game will be
forever tax free. So it creates a
452
00:34:47.460 --> 00:34:52.130
very strong incent of. Most people
would prefer to pay the taxes now,
453
00:34:52.210 --> 00:34:57.329
at the lowest tax rates we've had
in decade. Most people believe, with
454
00:34:57.449 --> 00:35:00.329
the tidal waves of people moving into
retirement, that we're going to have to
455
00:35:00.489 --> 00:35:06.329
increase taxes. The taste of the
tidal wave of baby boomers that are now
456
00:35:06.449 --> 00:35:12.760
moving into the Social Security and Medicare
trust system and because of that, they
457
00:35:12.880 --> 00:35:17.679
expectations are that we're going to dramatically
increase past with both of these programs we
458
00:35:17.800 --> 00:35:22.789
also create an incredible vehicle, unlike
a polar one cave. Most people are
459
00:35:22.829 --> 00:35:25.869
not aware of this, but whenever
you put money into a one K,
460
00:35:27.869 --> 00:35:31.989
while you're able to defer fetal and
state taxes, you instantly have to pay
461
00:35:32.150 --> 00:35:38.179
fifteen point three percent payroll taxes as
an employer. So you're losing thousands of
462
00:35:38.300 --> 00:35:45.539
balls with benefriends. Were not just
a financial resource with industries, only full
463
00:35:45.659 --> 00:35:51.449
servicelign firm. They guarantees our prost
against potential clients and Panties, but we
464
00:35:51.650 --> 00:35:58.010
create customized plan that ninety eight percent
of Americans do not have. Our contributions
465
00:35:58.050 --> 00:36:02.050
to our plans are going to be
exempt from payroll tastes. These are programs
466
00:36:02.170 --> 00:36:07.599
are cricket politicians that put together and, be quite direct, they're all corpeted
467
00:36:07.639 --> 00:36:12.159
and men are with your Democratic Republicans. They're doing things that pad their Wallat's,
468
00:36:12.239 --> 00:36:15.880
protect their families, reward their campaign
downers that not the eight percent of
469
00:36:15.960 --> 00:36:22.909
Americans do not have. But with
benefrings you'll have that those benefits. And
470
00:36:23.070 --> 00:36:27.590
when you think about who, by
the way, wealth of knowledge, information
471
00:36:27.710 --> 00:36:30.869
and that is a lot taken and
a lot to digest, and that's why
472
00:36:30.949 --> 00:36:37.539
it is so important to work with
someone like yourself who understands all of these
473
00:36:37.619 --> 00:36:43.780
nuances and you know how to bring
it all together. When you are working
474
00:36:43.940 --> 00:36:47.769
with someone, are you primarily working
with someone that is looking for franchise,
475
00:36:47.849 --> 00:36:54.409
business ownership are do you ever go
outside of that box? Well, Ninety
476
00:36:54.449 --> 00:37:00.599
eight percent of the time we're helping
people that are looking to acquire a business
477
00:37:01.360 --> 00:37:07.400
or by a franchise. We occasionally
work with people that are looking to expand
478
00:37:08.559 --> 00:37:14.400
their businesses to ninety or some of
the time, the majority of our clients
479
00:37:14.480 --> 00:37:17.389
with people that are, you know, that have been downsize or they're looking
480
00:37:17.550 --> 00:37:22.190
to the far and new business,
or they maybe in one business, but
481
00:37:22.309 --> 00:37:29.710
the thing without starting another bustance makes
sense. And if you know someone wanted
482
00:37:29.789 --> 00:37:37.539
to learn more about the rain specifically
the rainmaker advantage program, where and how
483
00:37:37.619 --> 00:37:40.019
would they go about doing that?
Obviously we're putting this podcast out there.
484
00:37:40.579 --> 00:37:46.690
What are some other resources for them? Well, the easiest thing to do.
485
00:37:47.250 --> 00:37:52.610
You know, I believe in partnering
with Experts, Partner with people that
486
00:37:52.769 --> 00:37:58.250
have experienced to help you avoid what's
now referred to as before when came MOUSETRAPP
487
00:37:58.289 --> 00:38:02.679
and tax fret. Work with somebody
that has decades of experiences. That are
488
00:38:02.719 --> 00:38:09.480
simply not selling funding. The unique
situation with myself is I approach things from
489
00:38:09.519 --> 00:38:15.510
a business owner background, again,
creating a structure that is not simply providing
490
00:38:15.590 --> 00:38:21.670
you funding but, more importantly,
thinking about an next of strategy, structuring
491
00:38:21.710 --> 00:38:27.380
a business with a goal in mine
to help you accumulate, accelerate, protect
492
00:38:27.420 --> 00:38:30.579
you, help and mitigate task.
The easiest way to do that is simply
493
00:38:30.820 --> 00:38:37.619
to send me an email. Larry. Is that a trendscom and is Bene
494
00:38:37.219 --> 00:38:44.409
Pryndscom? Or you can call me
directed seven, seven, zero, six,
495
00:38:44.570 --> 00:38:49.090
five two, five, three nine
and I'll send you a packet of
496
00:38:49.170 --> 00:38:54.050
information that will help you understand what
options are available. I recommend early in
497
00:38:54.130 --> 00:39:00.559
the process to have an assess the
help you understand what your options are,
498
00:39:00.280 --> 00:39:04.199
whether you're going to do a whole
equity line of credit, whether you're going
499
00:39:04.199 --> 00:39:08.840
to do an SBA loan and seceres
for time and asset funding, how the
500
00:39:08.960 --> 00:39:13.349
structure of the business, whether or
an LLC and school, to see for
501
00:39:14.150 --> 00:39:21.030
help you understand what the different options
are so that you're not making mistakes you
502
00:39:21.190 --> 00:39:24.539
don't know what you don't want.
And working with people that have been where
503
00:39:24.539 --> 00:39:29.579
you're about to go. There's its
own several businesses. I have personally helped
504
00:39:29.659 --> 00:39:34.900
over tenzero people. Buys, sell, Fund exit businesses. A train accountants
505
00:39:34.900 --> 00:39:39.769
and attorneys on pack strategy, Excess
Ategy. Partner with experts that can help
506
00:39:39.889 --> 00:39:45.010
you of what costing the state and
to that stent were. That's what we've
507
00:39:45.010 --> 00:39:50.730
done for decades. We have made
plus five star service rating and an incredible
508
00:39:50.929 --> 00:39:53.880
four point eight out of five point. Oh Google Review. Writing. Not
509
00:39:54.079 --> 00:39:59.119
Too bad for coming. It's been
around forty years. We also, because
510
00:39:59.159 --> 00:40:05.119
of our size, we have a
national network of Commercial Insurance, liability insurance,
511
00:40:05.239 --> 00:40:10.829
COP saving savings for pay row HR. We even were in the franchise
512
00:40:10.949 --> 00:40:16.030
community. We have we have we
provide three three months of employment services to
513
00:40:16.150 --> 00:40:21.900
help you recruit your team and show
you how to recruit and retain employee.
514
00:40:22.619 --> 00:40:27.460
If we get back to the three
point something for Sund unemployment rate, keeping
515
00:40:27.619 --> 00:40:32.619
good employees is incredibly important. Having
a resource that will help you across the
516
00:40:32.780 --> 00:40:38.610
board with a variety of issues as
a business owner becomes extremely valuable. Our
517
00:40:38.769 --> 00:40:44.889
goal is not to get you into
business. That's help you become access launchperneur
518
00:40:45.369 --> 00:40:49.969
and when you eventually acit, you
will all exit out of our businesses,
519
00:40:50.079 --> 00:40:57.760
either voluntarily or unvoluntarily, and in
keeping as much of that well for your
520
00:40:57.840 --> 00:41:02.840
spouse, your children and other family
members becomes very important. That is one
521
00:41:02.840 --> 00:41:08.550
of the biggest mistakes I find people
and making, having thousands of people go
522
00:41:08.829 --> 00:41:14.949
in and out of the business over
the Pastel well said, well said.
523
00:41:15.030 --> 00:41:16.869
Thank you for that and I do
want to share with our listeners. You
524
00:41:16.949 --> 00:41:21.500
know, naturally, if anyone is
looking at franchise business ownership. There is
525
00:41:21.579 --> 00:41:25.860
sort of a unique order that happens
here. And first thank you to Larry,
526
00:41:25.900 --> 00:41:30.300
not only for sharing all of this
great knowledge but also offering up his
527
00:41:30.659 --> 00:41:36.489
email and if you do reach out
to them, simply let him know that
528
00:41:36.690 --> 00:41:42.130
you found out about him through the
franchise business radio show. Funding is one
529
00:41:43.010 --> 00:41:47.519
key component and investment strategy when you're
looking at business ownership and, as Larry
530
00:41:47.559 --> 00:41:52.199
already alluded to, it's very important
to surround yourself with experts, get the
531
00:41:52.239 --> 00:42:00.119
right team in place to help you
find the right franchise, as well as
532
00:42:00.639 --> 00:42:07.710
put you in touch with people like
Larry who are funding experts. So I'm
533
00:42:07.789 --> 00:42:10.670
very, very happy to say that
Larry is one of our partners, are
534
00:42:10.789 --> 00:42:15.900
funding partners, and pleasure to work
with him. If you're considering franchise business
535
00:42:15.900 --> 00:42:21.019
ownership, feel free to reach out
to me. We will start the process
536
00:42:21.099 --> 00:42:24.940
of assessing what are we looking for
it in business, really bringing that criteria
537
00:42:25.059 --> 00:42:31.050
into scope so we can start thinking
about different businesses for consideration. In addition
538
00:42:31.170 --> 00:42:35.570
that, we're going to get you
in touch with the Mr Robs and the
539
00:42:35.650 --> 00:42:40.650
larries of the world so you can
actually determine what would be a wise investment
540
00:42:40.969 --> 00:42:45.960
strategy for you and we're going to
walk you through that entire process with the
541
00:42:46.039 --> 00:42:52.719
right team in place, so you
can be wise in making an educated and
542
00:42:52.840 --> 00:42:57.480
informed decision if business ownership is right
for you and if you have the right
543
00:42:57.559 --> 00:43:02.869
investment plan in place for you.
With that being settler, any anything else
544
00:43:04.070 --> 00:43:09.190
that you would like to add for
our listeners? Well, just a comment.
545
00:43:10.429 --> 00:43:16.739
In an environment where they're lily thousands
of business and franchise opportunities. He
546
00:43:16.860 --> 00:43:25.099
goes directly back to working with expert
and and my work together probably approaching a
547
00:43:25.179 --> 00:43:29.730
couple of decades now, but we've
been around the block. Yes, we
548
00:43:29.809 --> 00:43:34.969
have. There's something that there's something
to be said about experience and if you
549
00:43:35.130 --> 00:43:39.250
think about business ownership, work with
people that are experts to help you filter
550
00:43:39.449 --> 00:43:45.519
the good from the bad. And
works with one than the wall's most respected
551
00:43:45.679 --> 00:43:51.320
franchise search firms. There are thousands
of franchise opportunities up there. To be
552
00:43:51.360 --> 00:43:54.320
quite direct, I believe there's a
few hundred that are really all for the
553
00:43:54.440 --> 00:43:59.949
best return on the investment. They
work with companies to like Pam and her
554
00:44:00.110 --> 00:44:07.269
company, to help them on good
qualified candidates. That's an important first step
555
00:44:07.949 --> 00:44:13.139
to work with someone that will filter
the best from the rest and past can
556
00:44:13.219 --> 00:44:17.940
go through assessments to help determine what
is the best business for your personality.
557
00:44:20.739 --> 00:44:24.489
Your personality, your skill set and
your investment land. Together, we work
558
00:44:24.610 --> 00:44:30.769
together to help you not just get
into a business, so to get into
559
00:44:30.929 --> 00:44:35.130
a business that you enjoy doing.
When you do that, it's no longer
560
00:44:35.250 --> 00:44:39.159
a job, it's a hobby that
you get paid for, and that's if
561
00:44:39.239 --> 00:44:45.000
you get something that you enjoy doing. My experience is that your excel at.
562
00:44:45.000 --> 00:44:49.800
You know, aunt there's a lot
of businesses that can make you a
563
00:44:49.880 --> 00:44:53.150
decent income, but if it's like
getting up and doing the domnant and you
564
00:44:53.230 --> 00:44:58.150
don't like doing that, it's going
to be a hard way to make money.
565
00:44:58.190 --> 00:45:04.269
And Pam is the next when I
talk to her clients and I'm very
566
00:45:04.309 --> 00:45:07.980
impressed with the types of businesses as
she shows the person on a very good,
567
00:45:08.260 --> 00:45:13.619
very quick read on personality, the
skill set, investment, reach of
568
00:45:13.739 --> 00:45:19.019
the candidates and together we try to
make sure that the combination of those things
569
00:45:19.059 --> 00:45:22.889
are being met, and that's my
comment. Again, work with experts like
570
00:45:23.090 --> 00:45:29.250
Pam on myself to help you get
to the wife destination with the wife,
571
00:45:29.329 --> 00:45:36.960
capital resource maximize your potential for success. And that's my final come. Thank
572
00:45:37.039 --> 00:45:40.159
you for that and well said at
and definitely a grant. Just just to
573
00:45:40.199 --> 00:45:44.239
kind of additionally add to that.
It is amazing when you come a business
574
00:45:44.239 --> 00:45:46.639
owner. It is a lot of
work. I've quires a lot of time,
575
00:45:49.000 --> 00:45:52.429
but to Larry to your point,
it's very rewarding because you don't mind
576
00:45:52.590 --> 00:45:59.110
investing the time, the energy or
even the money. When you're building something
577
00:45:59.190 --> 00:46:05.340
for yourself it's a completely different mindset. So it's been a plan quite directly.
578
00:46:06.420 --> 00:46:09.059
Be Quite direct, there is no
job security in the jail be I'm
579
00:46:09.099 --> 00:46:14.460
a national lecturer for lfe management.
Ten years ago forty percent of my audience
580
00:46:14.539 --> 00:46:19.130
where in the mid bodies are older. Now Eighty five or my audiences in
581
00:46:19.210 --> 00:46:23.409
the mid Potis Oder. The reason
is health care cost have gotten so expensive
582
00:46:23.489 --> 00:46:29.969
to business owners. They're targeting people
as they progressinate. Now is the time
583
00:46:30.849 --> 00:46:35.320
to get into business for yourself,
but the key is finding the white business.
584
00:46:35.880 --> 00:46:37.880
Pam will have to find the right
business. I'll have you get the
585
00:46:38.000 --> 00:46:44.320
castle instructured in such a way that
will make it rewarding for you and your
586
00:46:44.400 --> 00:46:49.909
family. Excellent. Thank you for
that well. I do want to say
587
00:46:50.070 --> 00:46:54.429
thank you to both Larry as well
as Jeff for being guessed on the franchise
588
00:46:54.510 --> 00:47:00.630
business radio show. This is a
something that's also going to be represented in
589
00:47:00.349 --> 00:47:06.780
a franchise publication called Franchise, a
Dictionary magazine. I also want to go
590
00:47:06.900 --> 00:47:10.860
ahead and thank our sponsors of the
franchise business radio show. Thank you to
591
00:47:12.059 --> 00:47:17.650
France, serve the world's largest franchise
consulting and expansion organization, and also thank
592
00:47:17.690 --> 00:47:22.090
you to franchise dot city, a
better way to buy a franchise. And
593
00:47:22.369 --> 00:47:27.650
please feel free to also take a
look at my company, franchise intellect.
594
00:47:27.809 --> 00:47:32.400
That's www franchise intellectcom. Again,
this is Pamela Curry, host of the
595
00:47:32.519 --> 00:47:38.519
Franchise Business Radio Show, a platform
to bring together franchise professionals to connect,
596
00:47:38.519 --> 00:47:45.469
educate and collaborate to serve the franchise
community and those considering franchise ownership. Thank
597
00:47:45.510 --> 00:47:52.309
you for tuning in. Thank you
again for joining Pamela Curry and her guest
598
00:47:52.389 --> 00:47:55.789
for the Franchise Business Radio Show sponsored
by franchise intellect. Knowledge of the franchise
599
00:47:55.869 --> 00:48:01.260
community, for franchise selection. More
Info at franchise intellectcom. Also made possible
600
00:48:01.300 --> 00:48:05.579
in part by franchise dot city,
a better way to buy a franchise.
601
00:48:05.780 --> 00:48:09.699
More Info at franchise dot city and
friends serve the world's largest franchise consulting and
602
00:48:09.860 --> 00:48:15.769
expansion organization. More Info at Frand
servecom. Use the social media links here
603
00:48:15.849 --> 00:48:20.369
to share today's show and check out
more episodes at Franchise Business Radiocom
