Jeff Dudan

You made all these concessions, and it's just a mess. So, like, we did set the foundation of this business up with excellence. And, you know, we haven't been perfect in everything we've done. I mean, there's definitely some marketing things. Like, we got, you know, you launch five brands. You got to rebrand four of them. And all of a sudden franchise owners just start pouring in.

You're chasing your tail. And the interesting thing, one of the probably the biggest difference between a direct business like yours and a franchise business like ours is, you know, if you want to roll out Chirp, you just roll out Chirp. If I want to roll out Chirp, I need to have some sort of a consortium of franchise owners that are going to get on the program with that.

You're chasing your tail. And the interesting thing, one of the probably the biggest difference between a direct business like yours and a franchise business like ours is, you know, if you want to roll out Chirp, you just roll out Chirp. If I want to roll out Chirp, I need to have some sort of a consortium of franchise owners that are going to get on the program with that.

So if I'm willing to pay for it, then I can do it. But in our model, there's things that the franchise owners need to pay for. And again, you've got this wide distribution of people that have different outcomes. Some people are like, hey, I want to build a $500,000 or $1 million business, and I want to make a couple $300,000 a year and have a nice lifestyle and manage three or four people.

So if I'm willing to pay for it, then I can do it. But in our model, there's things that the franchise owners need to pay for. And again, you've got this wide distribution of people that have different outcomes. Some people are like, hey, I want to build a $500,000 or $1 million business, and I want to make a couple $300,000 a year and have a nice lifestyle and manage three or four people.

And then there's other people that just want to be monsters and want to build a $50 million business. So you have all of that, and they're all going to take a different approach when I say, we need to do this. So if I really want to do something, then I've got to shell it out. And then over time, you can make it mandatory, but it has to have proof.

And then there's other people that just want to be monsters and want to build a $50 million business. So you have all of that, and they're all going to take a different approach when I say, we need to do this. So if I really want to do something, then I've got to shell it out. And then over time, you can make it mandatory, but it has to have proof.

Well, we get paid at the closing table.

Well, we get paid at the closing table.

Yeah. You've got to be careful on your rollback. Like you have to know what you're rolling back into. There's things that I've learned.

Yeah. You've got to be careful on your rollback. Like you have to know what you're rolling back into. There's things that I've learned.

Yeah, so, you know, I had the top two people that were in my deal at the end. One was paying a little bit more. But what I didn't really fully appreciate that like we were a tuck-in. prior to them reselling. So my hold time on my rollback was short. Whereas the second place person, you know, I probably would have somebody else sold to them about the same time and they 5X their rollback.

Yeah, so, you know, I had the top two people that were in my deal at the end. One was paying a little bit more. But what I didn't really fully appreciate that like we were a tuck-in. prior to them reselling. So my hold time on my rollback was short. Whereas the second place person, you know, I probably would have somebody else sold to them about the same time and they 5X their rollback.

So, you know, like just that one little thing and I roll back eight figures, right? So, I mean, it was a big chunk of money and it would have, yeah, it would have sat in there for another three or four years, but like I would have 5X that money. Knowing, looking back at it, I don't, I probably could have – I don't think anybody could have known.

So, you know, like just that one little thing and I roll back eight figures, right? So, I mean, it was a big chunk of money and it would have, yeah, it would have sat in there for another three or four years, but like I would have 5X that money. Knowing, looking back at it, I don't, I probably could have – I don't think anybody could have known.

But what I – the fact that I did have is that this one was – I could have got the information that they were already in process and that we were a tuck-in and that we were – whatever I rolled in was going to roll back relatively quickly. And I could have acted on it and said, well, this $8 billion private equity firm is really growing this other thing. I would have been one of the first people.

But what I – the fact that I did have is that this one was – I could have got the information that they were already in process and that we were a tuck-in and that we were – whatever I rolled in was going to roll back relatively quickly. And I could have acted on it and said, well, this $8 billion private equity firm is really growing this other thing. I would have been one of the first people.

investments in there and now yeah you come in early yeah i mean i was i was relatively early and now you know they're a 2.2 billion dollar company they're the ones that own uh clockworks and everybody yeah so um yeah so like i would have been third company in at the beginning yep And so like that – the amount of economics that – so like know who you're selling to.

investments in there and now yeah you come in early yeah i mean i was i was relatively early and now you know they're a 2.2 billion dollar company they're the ones that own uh clockworks and everybody yeah so um yeah so like i would have been third company in at the beginning yep And so like that – the amount of economics that – so like know who you're selling to.

And there's another private equity company that I recently met. Now, there's probably one of the – like one of the more famous ones and – They do a lot in franchising, and they're huge and all of that. Now they want to fly in and meet with us. And we're not in the market or anything like that, but they just try to get to know you.