1 00:00:00,120 --> 00:00:03,680 Speaker 1: And this is a huge issue in franchises that people go. 2 00:00:03,720 --> 00:00:06,599 They sell like great businesses and they're making great money, 3 00:00:06,799 --> 00:00:10,000 like like the I have a custom closet. Franchise does 4 00:00:10,119 --> 00:00:14,039 nine million a year. Wow, No, no one knows this. 5 00:00:14,400 --> 00:00:17,320 They all think the money's in food or fitness. No, 6 00:00:17,920 --> 00:00:20,000 nine million doing custom closets. 7 00:00:20,239 --> 00:00:24,039 Speaker 2: You are listening to Carrie Lutz's Financial Survival Network, where 8 00:00:24,079 --> 00:00:27,480 you get valuable information you just can't find anywhere else 9 00:00:28,039 --> 00:00:31,640 to thrive in today's trying times. You need the Financial 10 00:00:31,719 --> 00:00:36,799 Survival Network now more than ever. Go to Financial Survivalnetwork 11 00:00:36,840 --> 00:00:40,600 dot com and get your free newsletter and gift. Financial 12 00:00:40,719 --> 00:00:44,159 Survival Network now more than ever. 13 00:00:47,560 --> 00:00:50,799 Speaker 3: And welcome you are listening to and watching the Financial 14 00:00:50,840 --> 00:00:54,200 Survival Network. I'm your host, Carrie Letz. Well, if you're 15 00:00:54,240 --> 00:00:59,200 thinking of a franchise, think, think hard. Things are changing. 16 00:00:59,399 --> 00:01:01,920 You need to be up on the trends. But one thing, 17 00:01:02,399 --> 00:01:06,719 maybe there's a hope make America healthy again. How's that 18 00:01:06,799 --> 00:01:12,400 going to work on the franchise food sector. And well, 19 00:01:12,760 --> 00:01:18,239 we have with us today returning guests and a literal 20 00:01:18,439 --> 00:01:24,799 franchise guru. He's doing what he loves and we're thrilled 21 00:01:24,840 --> 00:01:26,319 to have him it's. 22 00:01:26,200 --> 00:01:30,239 Speaker 4: Cliff, not a mocker. And but we got your name right, 23 00:01:30,439 --> 00:01:31,920 Cliff always, Yes, you did. 24 00:01:32,079 --> 00:01:35,599 Speaker 1: Many free, Thank you, good to see you, too, good 25 00:01:35,640 --> 00:01:36,159 to be back. 26 00:01:36,719 --> 00:01:41,120 Speaker 5: So make America healthy again? Maha. So do I sell. 27 00:01:41,000 --> 00:01:45,560 Speaker 4: McDonald short and buy Chipotle? What do I do here? 28 00:01:46,000 --> 00:01:48,239 Speaker 1: That's a that's a great statement, you know, you know, 29 00:01:48,280 --> 00:01:50,680 it's funny about these things. When you talk about food 30 00:01:51,200 --> 00:01:54,560 and you talk about Maha and you talk about virtue signaling, 31 00:01:55,040 --> 00:01:58,439 what we're seeing is a bunch of people saying, I 32 00:01:58,560 --> 00:02:00,959 want to eat clean, I want to do this, I 33 00:02:01,040 --> 00:02:04,719 want non genetically modify food. And then where do they 34 00:02:04,760 --> 00:02:07,280 go to? The drive through at McDonald's or a quick 35 00:02:07,319 --> 00:02:11,479 service restaurant. I mean, we all have opinions, right, but 36 00:02:11,520 --> 00:02:13,680 you can look at the earnings of McDonald's and it'll 37 00:02:13,800 --> 00:02:17,919 it'll prove that that business is not necessarily slowing down. 38 00:02:18,319 --> 00:02:21,479 While we all say I'm going to eat clean, I'm 39 00:02:21,520 --> 00:02:23,800 not going to eat that shit anymore. I'm going to 40 00:02:23,879 --> 00:02:25,800 do this, I'm going to do that, the reality is, 41 00:02:26,840 --> 00:02:30,479 you know, Carrie, when I'm inside of a asa ebowl 42 00:02:30,879 --> 00:02:35,639 brand or a juicing smoothie, cold pressed, clean, non GMO, 43 00:02:35,879 --> 00:02:39,800 no artificial or anything. So yeah, but I'm usually alone. 44 00:02:40,159 --> 00:02:43,159 I'm usually into one or two other people. Unfortunately, every 45 00:02:43,199 --> 00:02:45,560 time I travel and every time I go into a 46 00:02:45,639 --> 00:02:48,639 healthy eatery, I look around and say to myself, the 47 00:02:48,680 --> 00:02:52,439 world keeps telling me that they want these food categories, 48 00:02:52,800 --> 00:02:56,159 but I'm just not seeing it in terms of, you know, 49 00:02:56,319 --> 00:02:59,680 the revenue, the volume, and the acceptance of that. I 50 00:03:00,439 --> 00:03:04,719 see people going to the cheap quick service restaurant space 51 00:03:05,439 --> 00:03:08,840 and eating that genetically modified garbage is what it really is. 52 00:03:08,879 --> 00:03:09,639 It's fake food. 53 00:03:10,159 --> 00:03:14,360 Speaker 3: Yeah, it's not so cheap anymore, and it's but definitely convenient. 54 00:03:15,360 --> 00:03:19,439 I remember I traveled from New York to Florida, drove 55 00:03:20,080 --> 00:03:25,199 along I ninety five, and I couldn't find any healthy alternatives. 56 00:03:25,280 --> 00:03:28,120 I had to go like fifteen miles off at one 57 00:03:28,199 --> 00:03:32,840 point to find like an organic barbecue place that was delicious. 58 00:03:33,120 --> 00:03:36,879 But you know, when you're driving down the highway trying 59 00:03:36,919 --> 00:03:39,599 to get somewhere, you don't necessarily want to get off 60 00:03:39,639 --> 00:03:44,159 the beaten path. And hey, our president, for all of 61 00:03:44,199 --> 00:03:49,520 his pluses and minuses when it comes to dietary habits, 62 00:03:50,639 --> 00:03:51,520 he's not really the. 63 00:03:51,439 --> 00:03:53,199 Speaker 5: One you want to be emulating, is he. 64 00:03:54,080 --> 00:03:57,039 Speaker 1: I know, did you see like RFK you know, he's 65 00:03:57,080 --> 00:04:00,960 going through his whole inquiry whatever is going on there, right, 66 00:04:01,319 --> 00:04:06,439 And that's right, That's that's right. And it's like, hey, 67 00:04:06,599 --> 00:04:10,759 my boss likes that kind of food. He likes a 68 00:04:10,800 --> 00:04:13,840 fast food cheeseburger with a diet coke, you know. So 69 00:04:13,960 --> 00:04:17,879 he actually brought that up today during all the questioning 70 00:04:17,959 --> 00:04:21,519 from senators and whatnot. So yeah, I mean, look, there's 71 00:04:21,560 --> 00:04:24,680 a there's a place for everyone, and everyone wants to 72 00:04:24,680 --> 00:04:27,480 eat clean. The reality is is an economic structure to 73 00:04:27,519 --> 00:04:30,240 eat and clean. Everyone knows this. There's a camp of 74 00:04:30,279 --> 00:04:32,560 people who go to Whole Foods, and there's a camp 75 00:04:32,560 --> 00:04:36,360 of people who can't afford it at all. Organic eating 76 00:04:36,480 --> 00:04:39,879 clean is a lifestyle and you really can't put a 77 00:04:39,879 --> 00:04:42,240 price tag on it because it is. It's actually an 78 00:04:42,279 --> 00:04:45,240 expensive lifestyle and you just have to say, look, I'm 79 00:04:45,240 --> 00:04:48,240 disciplined and this is what I'm going to eat. There 80 00:04:48,240 --> 00:04:51,639 are brands for everyone. What we're seeing though in the 81 00:04:51,680 --> 00:04:57,680 food space post COVID is that inflation has really taken 82 00:04:57,720 --> 00:05:01,399 a huge bite out of restaurants tour profitability. And I 83 00:05:01,439 --> 00:05:04,639 don't care if your white tablecloth or quick service, it 84 00:05:04,639 --> 00:05:08,399 doesn't matter to me. You're feeling the pain post COVID 85 00:05:08,560 --> 00:05:14,720 of increased labor expenses, increased cost of goods, supply chain disruption. 86 00:05:15,040 --> 00:05:18,079 There are restaurants who actually ran promotions and ran out 87 00:05:18,079 --> 00:05:20,600 of the product, Like you don't want to run out 88 00:05:20,639 --> 00:05:22,800 of a product when you're doing a promo. I mean, 89 00:05:22,879 --> 00:05:26,439 that's it's not a bragging right exactly. I mean you 90 00:05:26,480 --> 00:05:28,600 could say it was so popular, ran out right, but 91 00:05:28,680 --> 00:05:31,879 you're losing money. So there's been a lot of issues 92 00:05:31,920 --> 00:05:35,360 post COVID in the food space. And I also believe 93 00:05:35,399 --> 00:05:40,240 that food is a very expensive endeavor with a very 94 00:05:40,279 --> 00:05:42,800 low return. And I'm talking about what I believe is 95 00:05:42,879 --> 00:05:45,839 single digit net and I have really no interest in 96 00:05:45,879 --> 00:05:48,839 businesses of the single digit net. Yeah, I mean they 97 00:05:48,959 --> 00:05:49,360 killed it. 98 00:05:49,639 --> 00:05:52,199 Speaker 5: They killed it, uh. 99 00:05:51,879 --> 00:05:55,120 Speaker 1: I mean inflation has absolutely killed it. I think if 100 00:05:55,160 --> 00:05:57,279 you look at inflation, if you look at supply chain, 101 00:05:57,279 --> 00:05:59,199 if you look at cost of goods, if you look 102 00:05:59,199 --> 00:06:02,079 at increased their rent, if you look at their increase 103 00:06:02,120 --> 00:06:06,920 in their insurance, everything in that world has gone up exponentially. 104 00:06:08,079 --> 00:06:10,600 And yeah, well that's the issue, and that's why AI. 105 00:06:11,120 --> 00:06:14,839 The only the talk now in our industry is the 106 00:06:14,879 --> 00:06:18,000 future of a QSR will have no seating. There is 107 00:06:18,079 --> 00:06:21,639 no value proposition to seating, there will be no seating. 108 00:06:22,040 --> 00:06:25,160 It will be an inline space or drive through, and 109 00:06:25,199 --> 00:06:28,439 it's grab and go. That's it. Grab and go, order 110 00:06:28,519 --> 00:06:31,480 on the app, come in, grab your food and leave 111 00:06:31,560 --> 00:06:34,199 and eat it elsewhere. And it's going to be all 112 00:06:34,240 --> 00:06:37,240 AI driven. So either app where you ordered it. If 113 00:06:37,240 --> 00:06:40,399 you do walk into the brick and mortar location, you'll 114 00:06:40,399 --> 00:06:43,079 probably end up facing a kiosk and place your own 115 00:06:43,199 --> 00:06:45,600 order and someone will either yell your name or just 116 00:06:45,639 --> 00:06:48,079 your bag will just appear in a window. I'm seeing 117 00:06:48,120 --> 00:06:51,759 it now. Already in Florida and Western Popeyes, inline space 118 00:06:52,160 --> 00:06:55,680 didn't speak to a soul. There were flat screen tea monitors. 119 00:06:55,720 --> 00:06:57,040 You place your own order and leave. 120 00:06:57,560 --> 00:06:59,879 Speaker 4: No, it's around the app, or you order on the app. 121 00:07:00,000 --> 00:07:01,759 Speaker 1: That's right, that's where we're headed. 122 00:07:02,000 --> 00:07:04,639 Speaker 3: You order on the app and they say hello, and 123 00:07:04,680 --> 00:07:09,120 you're like, somebody talking to me. But you know, Starbucks 124 00:07:09,120 --> 00:07:11,319 trying to pull this, or they tried to pull it, 125 00:07:11,680 --> 00:07:15,199 but they misread their place in the community, you know, 126 00:07:15,240 --> 00:07:19,480 because you go into a Starbucks now they're brightly lit, nos, 127 00:07:19,480 --> 00:07:23,800 the's no warmth. They're trying to discourage people from hanging 128 00:07:23,839 --> 00:07:28,600 out there socializing, and I think it's been to their detriment, 129 00:07:28,759 --> 00:07:32,079 not to mention the fact they got this rewards program, 130 00:07:32,319 --> 00:07:35,879 which I call it the customer disloyalty program, because they 131 00:07:35,920 --> 00:07:39,920 keep cutting it back and cutting it back. And I 132 00:07:40,000 --> 00:07:44,079 call it the inflation Cafe because their prices have increased 133 00:07:44,079 --> 00:07:49,399 way beyond the stated rate of inflation and they're failing 134 00:07:49,439 --> 00:07:49,959 at it right. 135 00:07:50,079 --> 00:07:51,160 Speaker 5: Business is going down. 136 00:07:51,240 --> 00:07:56,439 Speaker 3: It's not just inflation, it's lack of warmth and their locations. 137 00:07:57,399 --> 00:07:59,800 Speaker 1: I hear you, and I get all that with not 138 00:07:59,839 --> 00:08:01,879 a fan of the brand. Quite frankly, I don't even 139 00:08:01,920 --> 00:08:03,720 think they really have that great of a product and 140 00:08:03,720 --> 00:08:07,560 they charge a premium for it. They have lipped the 141 00:08:07,639 --> 00:08:10,120 script on what made them successful. And I think a 142 00:08:10,160 --> 00:08:12,759 lot of brands forget where they came from, and they 143 00:08:12,759 --> 00:08:16,360 forget how they became so successful. You know, this is 144 00:08:16,399 --> 00:08:19,439 a brand that I felt like they were America's you know, restroom. 145 00:08:19,720 --> 00:08:22,079 Now they want to charge you know all these things. Well, yeah, yeah, 146 00:08:22,120 --> 00:08:24,560 you had locations on every street corner and people would 147 00:08:24,600 --> 00:08:27,639 come in, pop in, use the restroom, buy a cup 148 00:08:27,680 --> 00:08:30,759 of coffee, tea, or a little snack, and leave. So 149 00:08:30,920 --> 00:08:34,960 I agree with you. The experiential part of business. Brick 150 00:08:35,000 --> 00:08:38,320 and mortar is in question. It really is. And then 151 00:08:38,360 --> 00:08:40,600 look at Dutch Brothers, look at Ziggy's, look at all 152 00:08:40,639 --> 00:08:43,480 these other brands in the coffee space. They're just sitting 153 00:08:43,519 --> 00:08:45,480 in the middle of a parking lot and it's drived 154 00:08:45,519 --> 00:08:49,759 through only zero experience. It's all about rice, right, and 155 00:08:49,799 --> 00:08:54,000 it's all about a good product. And there's nothing with 156 00:08:54,159 --> 00:08:58,039 leather back chairs, there's no Wi Fi like they reversed 157 00:08:58,080 --> 00:09:00,960 all that. So if you look at Scooters, if you 158 00:09:01,000 --> 00:09:04,240 look at Dutch Bros. If you look at Ziggy's, you know, 159 00:09:04,360 --> 00:09:08,360 these brands scattered across the country, totally different business model, 160 00:09:08,399 --> 00:09:12,399 and their unit economics are enviable and the price is right, 161 00:09:12,480 --> 00:09:14,600 and that's what people want right now. People have price 162 00:09:14,679 --> 00:09:18,399 increase fatigue, they really do. They're done with the price increases. 163 00:09:18,440 --> 00:09:21,320 They're just they're voting, as they say, with their feet 164 00:09:21,320 --> 00:09:23,480 and they're voting with their wallet and they're saying absolutely not, 165 00:09:24,320 --> 00:09:29,559 I'm moving on. So the restaurant space is somewhat in trouble, 166 00:09:29,600 --> 00:09:35,279 if you will, white tablecloth, definitely fast casual. Different story. 167 00:09:36,759 --> 00:09:41,159 Speaker 3: So yeah, and then it's this thing called the third place, 168 00:09:41,399 --> 00:09:45,039 which refers to a physical location outside of your home, 169 00:09:45,360 --> 00:09:48,919 which is first place office and still go to one 170 00:09:48,960 --> 00:09:52,080 which is second and it's like a place where people 171 00:09:52,159 --> 00:09:56,799 go to socialize and connect with others. And you know, 172 00:09:56,919 --> 00:10:01,639 after COVID you would think, Wow, everybody wants to do that, 173 00:10:01,840 --> 00:10:06,159 but diminishing. So getting away from food, we talked about 174 00:10:06,200 --> 00:10:08,279 top trends last time you were on. 175 00:10:09,440 --> 00:10:13,039 Speaker 5: What has changed, if anything? They are We talked about. 176 00:10:13,159 --> 00:10:20,360 Speaker 3: Healthcare, pet care, handyman, home services. We're still looking there 177 00:10:20,440 --> 00:10:22,360 is there more entrance into that area. 178 00:10:22,879 --> 00:10:26,320 Speaker 1: We yeah, are top. Just as a quick recap on 179 00:10:26,720 --> 00:10:29,399 the categories that we tend to focus on, You and 180 00:10:29,480 --> 00:10:33,159 I spent some time on AI and Amazon and Amazon 181 00:10:33,240 --> 00:10:37,840 and AI proofing your business. We talked about anything evolving tools. 182 00:10:37,879 --> 00:10:40,799 We refer to it as a category. The feminization of 183 00:10:40,840 --> 00:10:44,720 men in America right where sperm count has dropped, testosterone 184 00:10:44,759 --> 00:10:47,159 levels have dropped, that a lot of these people, young 185 00:10:47,200 --> 00:10:51,799 people can't have babies, many have ed because of these issues. 186 00:10:51,879 --> 00:10:54,720 It's a war on men. And we talk about why food. 187 00:10:55,200 --> 00:10:57,240 I think food has a lot to do with why 188 00:10:57,639 --> 00:11:01,000 there's a war on men and elly boys. Yeah, and 189 00:11:01,559 --> 00:11:04,320 that's actually what you said. Yeah, and it's like, okay, 190 00:11:04,399 --> 00:11:08,080 how did we get here? Franchises are now backfilling and saying, hey, 191 00:11:08,120 --> 00:11:12,080 we have solutions to some of these societal problems. We 192 00:11:12,159 --> 00:11:16,240 have testosteronotherapy. Most men can't use tools any longer. The 193 00:11:16,320 --> 00:11:21,720 tool category or the service industry is a massive market 194 00:11:21,759 --> 00:11:24,919 to be in. I argue that if anyone got involved 195 00:11:24,960 --> 00:11:30,000 in HVAC, plumbing, electrical, anything evolving the home structure, you're 196 00:11:30,000 --> 00:11:33,320 going to win. That's just my attitude. We have shit 197 00:11:33,360 --> 00:11:37,039 on the trades far too long, and there's now a 198 00:11:37,240 --> 00:11:42,039 huge gap missing with people who can. Actually there's no 199 00:11:42,120 --> 00:11:44,600 craftsmen anymore. I mean, please that those days are over 200 00:11:45,120 --> 00:11:46,759 and we need to get back to that where we 201 00:11:46,919 --> 00:11:50,000 start to embrace the trades, encourage our kids that don't 202 00:11:50,000 --> 00:11:51,559 want to go to college, go to a trade, go 203 00:11:51,600 --> 00:11:54,240 to a vocational school, become a welder, be you know, 204 00:11:54,320 --> 00:11:57,480 fix the infrastructure, all these things that think are huge. 205 00:11:57,799 --> 00:12:00,559 Next is, as I said, pats and animals, huge category, 206 00:12:00,799 --> 00:12:03,879 one hundred plus billion dollar market cap, whether you're training dogs, 207 00:12:03,919 --> 00:12:08,120 grooming dogs, boarding them, daycare, retail, ton of money to 208 00:12:08,120 --> 00:12:12,759 be made in that. We talked about the graying aging 209 00:12:12,759 --> 00:12:16,159 of America and people could capitalize off of this massive 210 00:12:16,600 --> 00:12:19,919 baby boomer population that is turning seventy to eighty every 211 00:12:19,960 --> 00:12:23,759 single day in the thousands in this country, whether it 212 00:12:23,759 --> 00:12:28,120 be mobility, or whether it be just transportation, or whether 213 00:12:28,159 --> 00:12:32,240 it be assistant living through residential real estate. We didn't 214 00:12:32,279 --> 00:12:36,320 speak much about another huge trend, which is child enrichment. 215 00:12:36,919 --> 00:12:41,879 Anything involving services removed from public schools. The public schools 216 00:12:41,879 --> 00:12:45,279 have failed miserably, and I think that art is missing, 217 00:12:45,360 --> 00:12:49,159 and the stems are the science technology engineering at math, 218 00:12:49,720 --> 00:12:53,879 and I think music is missing. And again, franchises are 219 00:12:53,919 --> 00:12:58,639 backfilling and providing these services inside the public school. It's 220 00:12:58,639 --> 00:13:00,480 not like you're creating a brand, you're down the street. 221 00:13:00,799 --> 00:13:04,279 These services operate inside the public school system. The reason 222 00:13:04,679 --> 00:13:07,440 that the schools are killing it but yet embracing it 223 00:13:07,639 --> 00:13:10,639 from a third party is there's no tenure, there's no pension, 224 00:13:10,879 --> 00:13:13,759 there's no medical benefits, there's no HR none of that. 225 00:13:13,960 --> 00:13:16,120 So they're like, Okay, you want to operate a franchise 226 00:13:16,159 --> 00:13:18,559 in the school for music and art, no problem, but 227 00:13:18,639 --> 00:13:21,639 we are not going to provide it through you know, 228 00:13:22,240 --> 00:13:25,879 through the city or through the local municipality. So I 229 00:13:25,919 --> 00:13:29,000 also see a huge move. You know, I've been in 230 00:13:29,039 --> 00:13:31,440 the gym business for years. Of my business partner, Justin 231 00:13:31,919 --> 00:13:34,639 and we've all often said what the client really wants 232 00:13:34,720 --> 00:13:36,639 is just a pill. Nobody really wants to be there. 233 00:13:36,639 --> 00:13:38,399 They just want to pill. They want to lose weight, 234 00:13:38,480 --> 00:13:41,320 be done with it. Well, that that time has come, 235 00:13:41,879 --> 00:13:45,960 with semi glue tides, we're starting to see money moving 236 00:13:46,720 --> 00:13:49,600 away from traditional When I say traditional gyms, I'm talking 237 00:13:49,679 --> 00:13:54,440 about treadmills, strength training equipment, just what we call me 238 00:13:54,559 --> 00:13:57,000 too products. Every gym has that. It's like me too, 239 00:13:57,120 --> 00:13:59,480 Hey does your gym have treadmills? Me too, Like we 240 00:13:59,519 --> 00:14:02,919 all have millsen strength training equipment. Those gyms, in my opinion, 241 00:14:03,000 --> 00:14:06,879 are are going to grossly underperform in an era of 242 00:14:06,960 --> 00:14:15,200 all these scientific achievements with weight loss like ozepic, wagovi right, 243 00:14:15,240 --> 00:14:18,720 the semiglue tides that GLP disruptors, people are losing weight 244 00:14:18,759 --> 00:14:22,960 for doing nothing, like literally doing nothing. So we also 245 00:14:23,080 --> 00:14:25,519 live in a time where we have a tea and 246 00:14:26,120 --> 00:14:33,559 osprey and you have Huberman teaching people how anti aging, biohacking, right, 247 00:14:33,679 --> 00:14:38,720 your sicania rhythm, just all these different things that people 248 00:14:38,799 --> 00:14:42,679 can do to get centered, to get balanced, to increase 249 00:14:42,720 --> 00:14:45,279 their tests that we just talked about testosterone to increase it, 250 00:14:45,840 --> 00:14:47,840 you know, natural lights so there's so much going on 251 00:14:47,840 --> 00:14:50,080 in the biohacking space, and I think it would become 252 00:14:50,080 --> 00:14:56,000 even more popular in this administration if RFK gets you know, 253 00:14:56,279 --> 00:14:57,440 gets the top job. 254 00:14:58,120 --> 00:15:00,519 Speaker 3: You know, my prediction is if he doesn' get it, 255 00:15:00,919 --> 00:15:03,320 someone else will get it, who they hate worse, who 256 00:15:03,360 --> 00:15:06,279 will actually have more impact because they'll be a scientist. 257 00:15:06,759 --> 00:15:09,679 But hey, what about if we come up with a 258 00:15:09,799 --> 00:15:14,600 franchise here, Cliff, where we call it a remasculization, where 259 00:15:14,639 --> 00:15:18,200 we teach guys how to change tires, how to change 260 00:15:18,200 --> 00:15:22,000 the oil on their car, how to do you know, 261 00:15:22,759 --> 00:15:28,519 minor household repairs like changing a lamp or putting in 262 00:15:28,519 --> 00:15:32,600 a switch, or you know, changing light bulbs. 263 00:15:32,919 --> 00:15:38,320 Speaker 1: Isn't it scary like we've gone so backwards with these topics. 264 00:15:38,639 --> 00:15:41,399 When you and I were growing up and went through school, 265 00:15:41,960 --> 00:15:46,279 I was in welding wood shop, I was in home economics. 266 00:15:46,320 --> 00:15:48,799 I made breakfast, I learned how to break an egg, 267 00:15:48,840 --> 00:15:52,120 I learned how to sew, I made pillows. I mean, 268 00:15:52,360 --> 00:15:54,720 we did all this stuff that just killed all of it, 269 00:15:55,240 --> 00:15:59,799 anything that made a student a productive human being and 270 00:15:59,840 --> 00:16:03,039 a good member of society. They eliminated all those things. 271 00:16:04,360 --> 00:16:08,000 It's really frightening. So what you're talking about is like 272 00:16:08,600 --> 00:16:11,399 getting back to the basics. Listen, we just needed an 273 00:16:11,440 --> 00:16:15,200 executive order to restate that there are only two genders. 274 00:16:15,759 --> 00:16:18,759 So when you're talking this kind of nonsense, we're going back. 275 00:16:18,799 --> 00:16:22,639 Speaker 3: Wait wait, there's only two. I thought that Biden said 276 00:16:22,679 --> 00:16:23,600 they were at least two. 277 00:16:24,080 --> 00:16:28,000 Speaker 1: Yeah. Yeah, I mean, come on, we're going We're going 278 00:16:28,039 --> 00:16:30,159 in the wrong direction. We've got to get back to again. 279 00:16:30,279 --> 00:16:32,840 Common sense isn't so common. You've got to get back 280 00:16:32,840 --> 00:16:36,879 to the basics. And again, we have these cooking classes, 281 00:16:36,919 --> 00:16:40,440 the cooking academies for the kids to give them life skills. 282 00:16:40,440 --> 00:16:42,919 So I agree with everything you just said. There needs 283 00:16:42,960 --> 00:16:45,279 to be first of all, we have to acknowledge the 284 00:16:45,279 --> 00:16:47,519 fact that our kids are not prepared for life. All right. 285 00:16:47,559 --> 00:16:50,320 So once we get there, then the parents can start 286 00:16:50,360 --> 00:16:52,559 to say, all right, I need I need to help 287 00:16:52,600 --> 00:16:54,559 this child. I need to give them the skill sets 288 00:16:54,600 --> 00:16:55,960 to be able to go to college, I live on 289 00:16:56,000 --> 00:16:59,360 their own and do laundry. I'm amazed at the stories 290 00:16:59,399 --> 00:17:02,840 and my goals, my friends, my family of how ill 291 00:17:02,879 --> 00:17:05,599 prepared the generation is to deal with life. 292 00:17:07,759 --> 00:17:10,200 Speaker 5: Yeah, well that's a whole nother story. 293 00:17:10,240 --> 00:17:13,599 Speaker 3: And I was guilty not showing my kids, my son 294 00:17:13,680 --> 00:17:16,960 in particular, how to do this stuff. I mean, you 295 00:17:17,039 --> 00:17:20,200 come into my house and I've got like, you know, 296 00:17:20,480 --> 00:17:25,359 closets that's like loaded with tools, and you know, there 297 00:17:25,400 --> 00:17:28,920 are things that I can't do or that I won't do, 298 00:17:29,079 --> 00:17:31,880 like I'm not going to do plumbing, although I did 299 00:17:31,960 --> 00:17:38,759 change a flapper on my toilet and that was a disaster, 300 00:17:38,920 --> 00:17:42,720 but eventually I got it. Now, I say, when I 301 00:17:42,759 --> 00:17:46,400 can actually change a toilet, then I'll know that my 302 00:17:46,880 --> 00:17:49,920 handyman skills are there. 303 00:17:50,599 --> 00:17:55,720 Speaker 1: Right, I feel blessed. I happen to be extremely handy woodworking. 304 00:17:55,880 --> 00:17:58,680 I've done some electrical, I've done a little bit of everything. 305 00:17:59,799 --> 00:18:03,920 I actually enjoy and I find it therapeutic and rewarding 306 00:18:04,359 --> 00:18:06,480 to not have to call anyone, you know, to do 307 00:18:06,519 --> 00:18:10,119 the work. So I think it's great. And again, franchising 308 00:18:10,559 --> 00:18:14,920 provides a place for everyone. There is an asset class 309 00:18:15,200 --> 00:18:18,599 for everyone, and you know, listeners should say, hey, whether 310 00:18:18,640 --> 00:18:21,599 you put in your child or grandchild or yourself in business, 311 00:18:22,039 --> 00:18:23,640 we provide all these different services. 312 00:18:23,839 --> 00:18:26,240 Speaker 5: So let's put on your hat. 313 00:18:26,319 --> 00:18:30,440 Speaker 3: If you were looking to buy a franchise now and 314 00:18:30,519 --> 00:18:32,559 you can get as specific as you want. 315 00:18:32,799 --> 00:18:34,119 Speaker 5: What area would it be in? 316 00:18:34,480 --> 00:18:37,480 Speaker 4: Is there a particular company and how much would you 317 00:18:37,480 --> 00:18:38,119 put into it? 318 00:18:38,960 --> 00:18:40,039 Speaker 1: Interesting? Great question? 319 00:18:40,079 --> 00:18:40,599 Speaker 5: All right, So. 320 00:18:42,160 --> 00:18:45,799 Speaker 1: I view myself as a very disciplined investor, and what 321 00:18:45,920 --> 00:18:51,079 I look for are asymmetrical investments, meaning I look for 322 00:18:51,200 --> 00:18:54,720 a really low investment. Really low. To me, enfranchising is 323 00:18:54,839 --> 00:18:58,039 sub two hundred thousand. So if I could find a 324 00:18:58,079 --> 00:19:01,720 business that is under two hundred thousand, again, we're back 325 00:19:01,759 --> 00:19:05,799 to that asymmetrical comment. I want a very short ramp 326 00:19:05,839 --> 00:19:08,359 to break even. Short ramp for me is three to 327 00:19:08,440 --> 00:19:12,799 six months maximum maximum three to six months to break even. 328 00:19:12,839 --> 00:19:14,720 And when I say break even, I don't mean getting 329 00:19:14,880 --> 00:19:17,480 my two hundred grand back. I mean stop the bleeding 330 00:19:17,759 --> 00:19:20,440 of my current burn rate to own the business. 331 00:19:20,799 --> 00:19:20,920 Speaker 5: Right. 332 00:19:20,960 --> 00:19:24,920 Speaker 1: Everyone always views break even as ROI versus breaking even 333 00:19:25,319 --> 00:19:29,799 on your burn rate nextll, So you're that's right, that's right. 334 00:19:30,000 --> 00:19:32,319 The business needs to cash flow enough money to cover 335 00:19:32,440 --> 00:19:35,000 my current burn rate of the business. If I'm spending 336 00:19:35,000 --> 00:19:38,000 five thousand dollars a month to keep this business operating, 337 00:19:38,079 --> 00:19:39,720 it needs to be making five thousand of me to 338 00:19:39,759 --> 00:19:43,640 break even. My ROI is my two hundred grand. I'll 339 00:19:43,640 --> 00:19:47,240 deal with that under a separate KPI, a different, whole, 340 00:19:47,440 --> 00:19:51,680 different metric. Next, I want as few employees as possible. 341 00:19:52,200 --> 00:19:55,200 Love people, but employees are a problem, and they're one 342 00:19:55,200 --> 00:19:59,680 of the thousinesses their liability. We have a lazy workforce, 343 00:20:00,119 --> 00:20:02,720 have a culture now that just doesn't really want to hustle, 344 00:20:03,400 --> 00:20:06,839 and we have the kind of a I would say, 345 00:20:07,240 --> 00:20:10,000 the worst labor market in the history of the country 346 00:20:10,200 --> 00:20:13,000 at the current moment. So I like businesses that don't 347 00:20:13,000 --> 00:20:14,799 require a lot of employees, and if they do that, 348 00:20:14,920 --> 00:20:18,200 it needs to be unskilled labor that I could quickly replace 349 00:20:18,240 --> 00:20:20,400 and train and put into the field and do their thing. 350 00:20:21,079 --> 00:20:23,039 Next is I do not like inventory. I don't like 351 00:20:23,079 --> 00:20:26,359 my money sitting on shelves. I do not like account receivables. 352 00:20:26,359 --> 00:20:29,440 I want cash paid to demand on service. I do 353 00:20:29,599 --> 00:20:35,880 like either contractual recurrence or built in recurrence. Meeting a 354 00:20:36,000 --> 00:20:40,039 gym is a contractual recurring fee. Hey sign here, La Fitness, 355 00:20:40,079 --> 00:20:42,720 pay me thirty dollars a month for as long as 356 00:20:42,759 --> 00:20:45,160 you're here. Great, it's a contract. I pay you monthly. 357 00:20:45,720 --> 00:20:49,319 Hair nails, makeup, write other things. It's a built in 358 00:20:49,400 --> 00:20:52,839 recurring revenue stream. Right, hair grows, it gets cut, grows again, 359 00:20:52,880 --> 00:20:55,720 it gets cut. There's things like lawn tree. The things 360 00:20:55,759 --> 00:20:58,880 like that are built in recurring revenue models. So I 361 00:20:58,920 --> 00:21:02,680 do like recurring revenue, whether it's contractual or if it's 362 00:21:02,720 --> 00:21:05,880 just built in inherently to the business model. I like 363 00:21:06,000 --> 00:21:10,079 highly scalable, and everyone loves to say highly scalable, like 364 00:21:10,440 --> 00:21:14,759 six hundred thousand dollars. Franchises are not highly scalable. You 365 00:21:14,799 --> 00:21:17,960 need six hundred grand every time you scale the business. 366 00:21:18,119 --> 00:21:21,920 That isn't highly scalable, especially if it needs thirty employees 367 00:21:22,279 --> 00:21:23,880 as well. That's not highly scalable. 368 00:21:23,880 --> 00:21:26,519 Speaker 5: We got to go into debt every time you that's. 369 00:21:26,319 --> 00:21:30,160 Speaker 1: Right, expensive debt. So I like highly scalable business, and 370 00:21:30,240 --> 00:21:34,240 I put emphasis on highly scalable, meaning I could just 371 00:21:34,319 --> 00:21:37,079 maybe buy another van. I could buy a vehicle. I 372 00:21:37,079 --> 00:21:39,880 could hire a tech I could hire maybe two employees 373 00:21:39,920 --> 00:21:43,200 in a vehicle. That's my definition of scaling the business. 374 00:21:43,480 --> 00:21:47,279 Keep the marketing machine on, hire two employees, get another vehicle, 375 00:21:47,359 --> 00:21:50,920 and send them out to perform a sell a product, 376 00:21:51,000 --> 00:21:54,200 or provide a service. So I do and I have 377 00:21:54,400 --> 00:21:57,480 no interest. This is important. I have no interest in 378 00:21:57,519 --> 00:22:01,519 businesses with single digit razor. Then march none. If I 379 00:22:01,599 --> 00:22:05,160 can't net fifteen to twenty plus percent to the bottom line, 380 00:22:05,480 --> 00:22:08,880 I'm out. So when I talk about waiting, if you said, okay, 381 00:22:08,920 --> 00:22:12,400 that was a lot, I need you to wait them, 382 00:22:12,640 --> 00:22:15,119 the margin is going to be heavily weighted above everything. 383 00:22:15,400 --> 00:22:17,640 If you said, if you checked every box right now 384 00:22:17,640 --> 00:22:20,119 and said, oh I've got everything you just said with 385 00:22:20,240 --> 00:22:22,880 an eight percent net, I'm probably out. I just don't 386 00:22:22,920 --> 00:22:25,680 see myself doing it. I mean, it's it's just there 387 00:22:25,759 --> 00:22:27,799 is no room for error in eight percent. And that's 388 00:22:28,000 --> 00:22:31,039 and that circling back, and that is where the food 389 00:22:31,039 --> 00:22:34,799 industry finds themselves. They find themselves spending a million dollars 390 00:22:34,799 --> 00:22:37,400 to get a food concept open with a five to 391 00:22:37,440 --> 00:22:40,039 eight percent net. It's just not worth it to me. 392 00:22:40,799 --> 00:22:43,920 Speaker 5: Yeah, and you want to avoid rent right. 393 00:22:44,880 --> 00:22:48,279 Speaker 1: In this example, yeah, under two If that's thank you 394 00:22:48,359 --> 00:22:51,799 for saying that, Carrie, Because when you're sub two hundred grand, 395 00:22:52,119 --> 00:22:56,960 you're absolutely not brick and mortar franchising. You're not paying rent, 396 00:22:56,960 --> 00:23:00,000 You're not in class a space next to whole food 397 00:23:00,240 --> 00:23:02,799 or next to a large grocery chain. You're not in 398 00:23:02,880 --> 00:23:05,559 a strip mall. You're operating out of a office, which 399 00:23:05,599 --> 00:23:09,319 is cheap because nobody works in a storage unit, bengo 400 00:23:09,599 --> 00:23:14,079 or mixed multi use industrial park exactly, a flex space exactly. 401 00:23:14,279 --> 00:23:19,160 Speaker 3: Yeah, yeah, cheapest rent. You don't want location the centric business. 402 00:23:19,200 --> 00:23:20,759 So what does that leave us with here? 403 00:23:21,200 --> 00:23:22,920 Speaker 1: It leaves us with a ton of business is the 404 00:23:22,960 --> 00:23:25,640 problem with most of the audience. They go, Oh, I 405 00:23:25,680 --> 00:23:28,119 was always told it takes money to make money. That's 406 00:23:28,200 --> 00:23:31,519 just not necessarily true. Non brick and mortar brand sub 407 00:23:31,599 --> 00:23:35,440 two hundred grand can change your life, and you can 408 00:23:35,480 --> 00:23:39,079 scale them into the millions, so you don't have to 409 00:23:39,119 --> 00:23:41,359 spend a half a million dollars to make a living. 410 00:23:41,480 --> 00:23:44,559 You could spend under two hundred thousand and make an 411 00:23:44,680 --> 00:23:47,960 enviable living and one that you've never had before, you know. 412 00:23:47,880 --> 00:23:51,640 Speaker 3: So one I always thought about and I haven't really 413 00:23:51,880 --> 00:23:54,759 thought of doing it. But you know, you got all 414 00:23:54,799 --> 00:24:00,720 these airbnbs here, and you know, generally the owner, especially 415 00:24:00,720 --> 00:24:05,759 if they're remote, cannot manage it effectively. The biggest, the 416 00:24:05,920 --> 00:24:09,400 biggest problem, and I know a bunch of Airbnb people, 417 00:24:09,799 --> 00:24:17,160 the biggest problem that they encounter is actually cleaning, getting 418 00:24:17,279 --> 00:24:21,240 high equality cleaning service like you would get at a 419 00:24:21,279 --> 00:24:23,079 top notch hotel, and. 420 00:24:23,319 --> 00:24:27,559 Speaker 5: One little specadert will ruin your rating as an Airbnb host. 421 00:24:28,119 --> 00:24:31,480 Speaker 1: So true, it's the truth. It's a tough space residential cleaning. 422 00:24:31,559 --> 00:24:34,920 No one's ever happy. The client is always in play. 423 00:24:35,039 --> 00:24:38,920 They're never happy, Like, there's always movement in that space. 424 00:24:39,240 --> 00:24:40,559 And it's like you go to a bank. You go 425 00:24:40,640 --> 00:24:42,720 to a bank, all the bank like's just say old 426 00:24:42,759 --> 00:24:45,880 banks sock right, Like they're all basically the same. These 427 00:24:45,960 --> 00:24:49,119 large banks they do all their crazy things. Once you 428 00:24:49,160 --> 00:24:51,799 start setting up all your bill pay they have created 429 00:24:52,000 --> 00:24:56,440 very sticky relationships. Are you happy at your local bank? No, 430 00:24:56,640 --> 00:24:58,799 I know you're not happy because you're getting paid nothing. 431 00:24:59,160 --> 00:25:02,279 There's really no value proposition at a local bank. They 432 00:25:02,319 --> 00:25:04,440 really never know what they're doing behind the counter. They 433 00:25:04,480 --> 00:25:06,960 can't get you what you need. A lot of times 434 00:25:07,000 --> 00:25:10,759 I walk into a local bank, it's just fifteen offices empty. Yeah, Like, 435 00:25:10,799 --> 00:25:12,480 I don't even know what they're there for. I guess 436 00:25:12,480 --> 00:25:13,960 it's the vault and the tellers. 437 00:25:14,319 --> 00:25:18,400 Speaker 5: They don't do cash anymore, right, what do they gass? 438 00:25:18,519 --> 00:25:22,640 Speaker 3: You go to the ATM and yeah, I don't quite 439 00:25:22,799 --> 00:25:24,559 get the whole concept of banking. 440 00:25:24,640 --> 00:25:26,039 Speaker 5: It's exactly dated. 441 00:25:26,359 --> 00:25:29,079 Speaker 1: But nobody leaves. But no one leaves them where In 442 00:25:29,160 --> 00:25:34,519 residential cleaning, there is no sticky relationship. There's no client retention. Strategy. 443 00:25:34,839 --> 00:25:37,799 The client is never happy. There's always dust in the corner. 444 00:25:38,079 --> 00:25:41,160 They never wipe something down, they always break something. They 445 00:25:41,240 --> 00:25:45,000 always come late or don't show up at all. That customer, 446 00:25:45,079 --> 00:25:49,279 to your point, is always moving. They're always ready to 447 00:25:49,279 --> 00:25:53,519 be acquired by the new cleaning company. That is a 448 00:25:53,680 --> 00:25:56,240 very My business partner and I owned a high end 449 00:25:56,720 --> 00:26:01,279 residential cleaning company and Palm Beach. We were classified as 450 00:26:01,359 --> 00:26:06,119 master franchise oors for this brand and it was probably 451 00:26:06,240 --> 00:26:10,160 the worst business that we ever invested in, and could 452 00:26:10,160 --> 00:26:11,680 not wait to get that people. 453 00:26:12,000 --> 00:26:13,440 Speaker 5: It's all people. You don't have. 454 00:26:13,559 --> 00:26:17,480 Speaker 3: It was measure and you leave one speck of dust 455 00:26:18,039 --> 00:26:22,279 and you got a picky customer and you're dead man walking. 456 00:26:22,359 --> 00:26:25,400 Speaker 5: You're done. They're finished with you. I know myself. 457 00:26:25,480 --> 00:26:28,759 Speaker 3: You know I had the same cleaning person for years already. 458 00:26:29,400 --> 00:26:34,160 But you know so many times I said, man, the 459 00:26:34,200 --> 00:26:35,920 only good thing I could say about her is she 460 00:26:35,960 --> 00:26:37,240 doesn't steal that. 461 00:26:37,759 --> 00:26:40,000 Speaker 1: You know, for everyone listening is saying, wow, I really 462 00:26:40,079 --> 00:26:43,359 like that space. I would challenge you with this thought, 463 00:26:43,480 --> 00:26:46,759 if you really wanted to do residential cleaning that has 464 00:26:46,799 --> 00:26:50,960 a very challenging retention rate and an unreasonable homeowner as 465 00:26:51,000 --> 00:26:55,920 your customer consider commercial cleaning. You could scale commercial cleaning 466 00:26:56,359 --> 00:27:00,240 way faster. Name one time, Carrie, you were upset at 467 00:27:00,279 --> 00:27:03,920 your corporate office because the cleaning company didn't do No 468 00:27:03,960 --> 00:27:07,160 one seems to care in the commercial environment. 469 00:27:07,480 --> 00:27:11,319 Speaker 3: Really, offices are filthy as a rule. I mean, if 470 00:27:11,359 --> 00:27:14,000 you tried to clean an office the way you'd clean 471 00:27:14,039 --> 00:27:18,920 your house, like moving stuff around and vacuuming under there, you'd. 472 00:27:18,720 --> 00:27:20,480 Speaker 5: Be totally disgusted, you know. 473 00:27:20,720 --> 00:27:23,519 Speaker 3: But you know, as long as it appears to be 474 00:27:23,599 --> 00:27:27,240 clean on the it's just surface cleaning. So all right, 475 00:27:27,519 --> 00:27:30,680 So what's your top pick after all that criteria tell us? 476 00:27:31,079 --> 00:27:33,839 Speaker 1: Yeah, well, I mean my top pick in that category, 477 00:27:33,880 --> 00:27:35,400 which I just said, if you said right now you 478 00:27:35,480 --> 00:27:38,119 got to pick an industry, it would be home services. 479 00:27:38,359 --> 00:27:41,000 I think home services has a ten twenty year runway 480 00:27:41,039 --> 00:27:44,160 before it's disrupted by optimists and you know what I'm 481 00:27:44,200 --> 00:27:48,559 talking about the AI bots at Tesla, and I think 482 00:27:48,599 --> 00:27:52,519 you have ten twenty year runway before home services, which 483 00:27:52,599 --> 00:27:56,920 means feet on the street, you know, fixing your HVC system, 484 00:27:57,400 --> 00:28:00,920 fixing something whether it's a roof or whether it's striywall repair, 485 00:28:01,079 --> 00:28:04,759 whether it's plumbing or flooring. I think that the home 486 00:28:04,799 --> 00:28:08,200 services category is huge. I think it's also important to 487 00:28:08,279 --> 00:28:11,920 mention to the audience that no one expects you to 488 00:28:12,000 --> 00:28:15,359 do the work. And this is a huge issue in 489 00:28:15,480 --> 00:28:18,480 franchises that people go they sound like great businesses and 490 00:28:18,519 --> 00:28:21,759 they're making great money, like the I have a custom 491 00:28:21,799 --> 00:28:26,640 closet franchise does nine million a year. Wow, No one 492 00:28:26,720 --> 00:28:30,440 knows this. They all think the money's in food or fitness. No, 493 00:28:31,200 --> 00:28:35,240 nine million doing custom closets, right, So that people go, man, 494 00:28:35,279 --> 00:28:38,079 it sounds sounds like a great Probably that's probably going 495 00:28:38,160 --> 00:28:40,119 to be like ten. I'd say it's going to be 496 00:28:40,119 --> 00:28:41,759 by ten. So it's very labor intensive. 497 00:28:41,799 --> 00:28:42,240 Speaker 5: You have a. 498 00:28:42,160 --> 00:28:48,319 Speaker 1: Massive you're doing custom woodworking in a large warehouse facility, 499 00:28:48,799 --> 00:28:50,559 a lot of it's prefab a lot of it could 500 00:28:50,559 --> 00:28:52,720 be ordered through third party, and you still have your 501 00:28:52,720 --> 00:28:55,480 installation crew to come into your home, which you know, 502 00:28:55,559 --> 00:28:58,440 once you enter someone's home, right, the hair in the 503 00:28:58,480 --> 00:29:00,440 back of their neck stands up and it's like watch that. 504 00:29:00,519 --> 00:29:03,079 Take your shoes off, do this rust the rugs don't 505 00:29:03,119 --> 00:29:06,000 scratch the walls, So you have all that to deal with. 506 00:29:06,079 --> 00:29:10,759 But again, nine million a year as an average, not 507 00:29:10,880 --> 00:29:13,880 the top twenty five percent your average, So it's really 508 00:29:13,920 --> 00:29:17,599 an incredible revenue number. I do. I love home services 509 00:29:17,599 --> 00:29:20,519 for those reasons. And it's not just me. Private equity 510 00:29:20,559 --> 00:29:24,480 firms are gobbling up all home services brands that they 511 00:29:24,519 --> 00:29:27,000 could get their hands on because they see what's happening 512 00:29:27,319 --> 00:29:30,160 not only in society, but they see what's happening with 513 00:29:30,240 --> 00:29:34,240 AI and the disruption it will bring to white collar jobs. Like, 514 00:29:34,599 --> 00:29:36,799 what do you want to invest in a graphic design company? 515 00:29:37,160 --> 00:29:40,440 You're dead. You just don't know it yet. AI is gee. 516 00:29:40,759 --> 00:29:41,920 I think I may have shown to me you. I 517 00:29:41,960 --> 00:29:43,559 don't know if it did. We're working with Forbes right 518 00:29:43,599 --> 00:29:46,279 now in a book called Beyond the Brand, and of 519 00:29:46,279 --> 00:29:49,279 course this is Forbes. They have teams of people doing 520 00:29:49,440 --> 00:29:52,880 artwork and graphic design, all this stuff. So they produce 521 00:29:53,000 --> 00:29:55,240 some artwork for the cover of our book and we 522 00:29:55,319 --> 00:29:58,920 were like okay. It was just okay, we want to 523 00:29:59,000 --> 00:30:02,400 chatch EPD paid a premium for their service. We told 524 00:30:02,440 --> 00:30:05,119 them we're in the franchise industry. We're writing a book. 525 00:30:05,160 --> 00:30:09,480 This is the title, Unbelievable Unbelievable Results. So it's like 526 00:30:09,519 --> 00:30:12,720 we're going with our We're going with our you know whatever. 527 00:30:12,720 --> 00:30:15,519 One hundred and fifty dollars a month subscription with an 528 00:30:15,519 --> 00:30:20,720 AI model versus hiring a quarter million dollar firm Forbes 529 00:30:21,200 --> 00:30:25,119 to do this stuff. Listen, if you're writing code, if 530 00:30:25,160 --> 00:30:29,319 you're a wordsmith, if you're doing copyright work, and man 531 00:30:29,759 --> 00:30:32,119 like you're I think you're out of business. You just 532 00:30:32,119 --> 00:30:34,519 don't know it yet. It's time to reinvent yourself. 533 00:30:34,759 --> 00:30:36,960 Speaker 5: Yeah, so the AI is really going to have an impact. 534 00:30:37,039 --> 00:30:38,720 You know. When we have you on next time. 535 00:30:38,599 --> 00:30:43,039 Speaker 3: Cliff, we're going to talk about AI more and how 536 00:30:43,079 --> 00:30:46,960 you AI proof or how you benefit from AI in 537 00:30:47,000 --> 00:30:47,759 your franchise. 538 00:30:47,920 --> 00:30:50,079 Speaker 5: Just tell us where we find you. How do we 539 00:30:50,119 --> 00:30:51,319 connect with you on the web. 540 00:30:51,480 --> 00:30:55,920 Speaker 1: Thank you phrenocity dot com, f r A no ci 541 00:30:56,200 --> 00:30:58,839 t y dot com. They can reach me direct at 542 00:30:58,880 --> 00:31:01,839 Cliff n at brnosity dot com. 543 00:31:01,880 --> 00:31:04,279 Speaker 3: All right, links in the show notes this interview on 544 00:31:04,480 --> 00:31:07,920 Financial Survival Network dot com. We just asked when you 545 00:31:08,000 --> 00:31:10,240 go there, you please sign up for your free newsletter 546 00:31:10,680 --> 00:31:14,920 always like share, subscribe and all that good stuff. And 547 00:31:15,039 --> 00:31:17,920 maybe this will be the year with the new administration 548 00:31:18,039 --> 00:31:22,000 that we're no longer throttled or censored on a certain 549 00:31:22,799 --> 00:31:26,799 platform that everybody watches. We can only cross our fingers 550 00:31:26,799 --> 00:31:30,200 and hope. Cliff, we'll talk to you again soon. Any question, thanks, comments, 551 00:31:30,559 --> 00:31:34,319 question for Cliff myself kl at Carrie LUTs dot com. 552 00:31:34,359 --> 00:31:35,720 Speaker 5: Cliff, we'll talk to you again soon. 553 00:31:35,759 --> 00:31:38,640 Speaker 2: All right, Well, thanks Kerrey, thanks for listening to Carrie 554 00:31:38,680 --> 00:31:44,000 Letz's Financial Survival Network, your solution to today's trying times. 555 00:31:44,240 --> 00:31:48,359 For the latest, go to Financial Survivalnetwork dot com. Financial 556 00:31:48,480 --> 00:31:49,839 Survival Network 557 00:31:50,119 --> 00:31:51,799 Speaker 4: Now more than ever,