Vince Nardo

Is it a $12 million branch or is it a 24 or $25 million branch?

If you take a branch in an Orange County, California, the home density is so tight, you can do 25 million in a 50-mile radius.

You take a branch in...

You know, maybe I'll just throw a state out there, El Paso, Texas.

You know, it's going to be hard to probably do 25 million in a 50 mile radius, but you could probably do 12.

So that's kind of how we said, we said, okay, here's all the branches at a very high level to $12 million branch, $24 million branch.

Now let's build the staffing and the lead gen models around that.

So each branch will get you anywhere between 1.8 to 3.6 million of EBITDA in a perfect world.

Correct.

And how many branches are you shooting for?

Well, it's grown because we were able to bring in a lot of talent.

So the original model, like you said earlier, was 50 and 30 states.

Now we're close to 60 branches.

Now, the reality is some of these branches won't make it, right?

So in order to counteract that,

We went with what you might call a hub and spoke model as far as the way the business operates, whereas much of the back office business is at corporate, and the branches are very low overhead.

Essentially, you could think of a branch as an operations and a sales branch and not any of the other infrastructure.

That's exactly how I run mine.

In fact, the future of this business is very, very light.

You've got a warehouse guy.