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EP 380: She Makes $500k On Lice Treatments Franchise

EP 380: She Makes $500k On Lice Treatments Franchise

FromSaaS Interviews with CEOs, Startups, Founders


EP 380: She Makes $500k On Lice Treatments Franchise

FromSaaS Interviews with CEOs, Startups, Founders

ratings:
Length:
17 minutes
Released:
Aug 8, 2016
Format:
Podcast episode

Description

Cody Bradstreet. Cody has a background in accounting and was working for Dell when she realized she needed a backup plan for work. She opened up her own franchise of The Lice Place, where people can have lice manually moved without harsh chemicals. Find out how an accountant got her hands into the lice industry. Famous Five: Favorite Book? – Her own future book What CEO do you follow? — No Favorite online tool? — Quickbooks Do you get 8 hours of sleep?—Yes If you could let your 20 year old self know one thing, what would it be? — Love yourself. Forward fixes everything. Time Stamped Show Notes: 01:00 – Nathan introduces Cody 01:20 – Started in accounting 01:40 – Worked at Dell 02:10 – She left Dell to “chase my dreams in the lice industry.” 02:30 – Started as a backup plan for possible layoffs 03:20 – She approached a small business, The Lice Place 03:50 – The transition 04:25 – Franchising 04:40 – Total revenue for the year before she bought it was under $50k 05:10 – Service to manually remove lice 05:50 – She did her own valuation 06:50 – Royalties 07:10 – A standard franchise model 08:00 – A goal to buy the whole business 08:50 – Why to buy instead of build 09:10 – Revenue for the last year was $250k 09:50 – Employees are the biggest expenses 10:10 – Advice for future franchisers 10:40 – “Get a good lawyer.” 10:55 – Connect with Cody on LinkedIn 12:45 -- The Famous Five 3 Key Points: Put yourself out there to get into a certain industry or business. Consider buying a business instead of building a new one. Make sure you read the fine print before you start your own franchise. Resources Mentioned: Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible. Freshbooks - The site Nathan uses to manage his invoices and accounts. Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+ Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books. Quickbooks – Cody’s accounting tool Evernote – Nathan’s favorite online tool Show Notes provided by Mallard Creatives
Released:
Aug 8, 2016
Format:
Podcast episode

Titles in the series (100)

Over 10M founders, CEO's, and investors have downloaded this 15 minute daily podcast from Nathan Latka. Each day Latka interviews a software (SaaS) CEO and gets them to share how they've grown (or not) so fast all backed by hard data points. To date, over 1000 CEO's have been interviewed that together do over $6b in revenue, have raised over $5b, and employ more than 180,000 employees. The magazine for CEO's: http://nathanlatka.com/magazine The Book for CEO's: http://nathanlatka.com/bookamazon