Michael Girdley (@Girdley), and Mills Snell (@thegeneralmills) talk about a deal named 2 Smash my trash franchises from Hennepin County, Minnesota wherein we get to know what this is all about and whether we loved or smashed the description and financials.-----Thanks to our sponsors!* CloudBookkeeping offers adaptable solutions to businesses that want to focus on growth with a “client service first” approach. They offer a full suite of accounting services, including sophisticated reporting, QuickBooks software solutions, and full-service payroll options.-----Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.Do you enjoy our content? Rate our show!Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.-----Show Notes:(00:00) - Introduction(00:25) - Deal & financials: 2 Smash My Trash Franchises(00:55) - So what kind of Deal is this?(03:34) - The first Red Flag: What is suspicious about this Deal?(04:56) - Why does the Smash Truck look so cool?(06:36) - What does the operation look like for this business?(07:12) - What are the inclusions on the Bonus Material?(08:00) - Any first impressions on the deal?(11:42) - What are the requirements for a franchisee?(12:51) - Regulatory risks & understanding of a “CYA” document(15:54) - Competition risks, lobbyists, and crossings you want to stay away from.(17:37) - Our sponsor is Cloudbookkeeping.com(19:11) - Second Red Flag in the listing: What is inconsistent with this story?(20:12) - What are the dangers of having a big competitor ready to launch lawsuits?(22:30) - Let’s discuss the unit economics of this business: Customer, value proposition & competition.(26:42) - What is going to play a big role in the performance of a Franchise? What could the overhead structure look like?(27:33) - What is the fundamental problem with franchise incentives?-----Additional episodes you might enjoy:#118 Should we get wet with a water park?#117 A Neighborhood Coffee Shop: Good or Terrible?#105 How to Make Money in the E-Commerce Game - Bill D’Alessandro gives an e-Commerce masterclass - Part 1#79 What do Investors want? - Dig into an investor’s mind with Bradford Hardin#75 SBA Loan Secrets with Heather Endresen, expertise from a Billion-Dollar Loaner