Joe Salsih
👤 SpeakerAppearances Over Time
Podcast Appearances
I don't love it.
So I decided to become a high school teacher and a track coach.
And so my franchise was... Exactly.
Yeah.
I sell it for about three quarters of a million dollars.
Okay.
And I managed about $60 million, which people out there know wasn't a huge firm, but wasn't a tiny firm either.
Good.
What you do is you take revenue and you multiply it.
And the whole game is the multiplier, right?
Whether it's two years, three years, whatever it's going to be.
And then you take it generally because a lot of people that are going to buy that type of a firm can't afford to pay you all at once.
It's a paid out.
So I'll get paid once a quarter for X number of years.
So there's two things.
Oh, so it's like an earn out.
Exactly.
How long are they going to pay me over so they may pay me more money if it takes longer?
In my case, it was five years.
And then the second piece is exactly how many years revenue are we going to take?