Everything you never asked to know about the franchise business is covered in this conversation between Ray Gillenwater and our franchise attorney, Tim Pickwell. If business legal minutia gets your engines revving, we feel sorry for you, but the good news is you may enjoy this podcast episode. And for those of you that say we're boring...this episode is evidence that you are indeed correct. 01:02 Franchise attorney 02:54 How SS Gyms operates vs others 05:42 Cash flow positive 06:49 Franchisee success and treatment compared to others 09:36 Majority of revenue from royalties 12:16 Maintaining quality and growing as slowly as we need to grow 20:30 Relevant regulations and why they were created 27:11 Federal Trade Commission 31:34 North American Securities Administrators Association 36:56 Are the FDD and laws obsolete? 39:49 No SS Gyms in California and New York 44:50 Thank you to our members 46:11 How many franchise companies are self funded? 48:21 40 gyms is the magic number 48:51 What could we do better? 51:19 Ray Kroc 51:58 Good things to come 57:35 We love transparency