Scott Thompson

speaker

314 appearances 1 recordings 1 series first heard Feb 2023 last heard Feb 2023

Scott Thompson’s voice in public audio — every appearance, attributed to the second.

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Franchise Today · Scott Thompson, Managing Director at Level Five Capital Partners · 1 Feb 2023 podcast

begg, borrowed, and stole, talked you know, had one uncle gave me ten grand, bank gave me ten grand and I had like ten grand.

So and then uh Rick Rick Sikorsky, who was the founder of Fitness Together uh out of Denver, Colorado, gave me sixty six thousand and you know, took took about I think a point and a half off the top and it was at fourteen percent interest rate.

And then I got an equipment lease for the rest and voila I opened up a store in

Dedham, Massachusetts, about a year later and that was my first store.

I had painted the walls myself.

I had done a bunch of things to save money.

Um I did not have a ton of work and capital to go out and market and I wasn't in the greatest location.

Uh I was kinda on Route One on in in Dedham, but off the beaten path a little bit.

So I had to do things that were unorthodox to get customers.

Um but I did a lot of networking in the market at the time.

I was a ambassador for the Neponset Valley Chamber of Commerce.

I met a whole bunch of small business owners in the community and that was a l a big re way that I was able to get clients in the door and and ultimately keep them long term.

I did that for gosh for probably three or four years and I had opened up two more facilities.

I had a couple of wealthy clients that wanted to put together a business plan to uh

uh open up up along the east coast about twenty five locations and um we did that business plan and then uh what ended up happening is Rick Sikorsky flew out and said, Hey, we um we want you to become a a master franchisee.

What does that mean?

Well Brian, who was the original

franchisee in in Boston who sold me my location, he was the master franchisee and at that time yeah.

Forty locations, probably somewhere on I don't know, had some good passive income, let's say.

And I said, Well, I I wanna do the same thing.

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