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

So I thought it was less risk for us to do the master license.

And so I ended up selling my individual locations to some other franchises in the market and I moved to New York to start to develop the business in New York.

At the time there was one or two loc existing locations that I had to support and then uh

I had put a plan together to to open up thirty or forty locations.

Fast forward three years we we opened up thirty five locations.

We were doing great, good passive income.

The business was up and to the right.

And then, you know, the these the stock market and everything started to the financial crisis happened and could see the writing on the wall.

And Rick Sakorski had sold back to private equity, I think in two thousand six.

Seven, late 2007 and 2008 and 2009, we started to see the writing on the wall.

Franchises were struggling, they had to renegotiate leases, do some royalty reduction, and certain help people put the capital back into the marketing.

And you know, I think at that point, one-on-one training was a is a luxury that folks were kind of turning, not turning away from more looking for alternatives.

And so uh I decided to sell back.

back to enhance capital.

And then I did that.

And then we ended up I ended up working with them as a director of franchise development.

And then from there they

Six months later they weren't growing and they kinda laid a bunch of us off and it was time to move on.

So that was a ten year career there and kinda like, Well, what do I do?

And I've definitely earned learned a lot of skills along the way.

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