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Join me, Nik (https://x.com/CoFoundersNik), as I interview Kevin Moyer (https://x.com/kevinjm). Kevin left the tech world, including a job at Salesforce where he was making up to $250K, seeking a tighter connection between his hard work and the reward.
He swung to the other end of the spectrum and became a franchise owner of Smash My Trash. Starting with three territories and one truck, he now operates five territories and has built the business to about $1 million in top-line revenue annually.
Despite the seasonal nature of his California location driven by agriculture, the business is now mostly passive, taking up only about an hour of his day. We discuss why he chose a franchise over starting a tech company or buying an existing business, the risks he didn't fully appreciate like minimum royalties and personal guarantees in the franchise agreement, and how he built a passive asset generating significant cash flow.
Questions This Episode Answers:
How did a tech founder transition from Silicon Valley to operating a trash franchise?
What specific unexpected risks should potential franchise owners be aware of, like minimum royalties?
How can a $1 million revenue business like Smash My Trash be structured to be mostly passive?
How do you evaluate the viability and potential pitfalls of a franchise territory?
What is the typical annual cash flow or SDE for a successful Smash My Trash franchise operating at $1M in revenue?
Enjoy the conversation!
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This week we covered:
00:00 From Tech to Trash: The Entrepreneurial Leap
10:07 Navigating the Franchise Landscape
20:14 The Financials of Smash My Trash
30:06 Lessons Learned and Future Plans
