White Coat Investor Podcast MtoM #135: Opening a Franchise and Finance 101: Tilting Your Portfolio
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Sep 11, 2023 A doctor facing burnout decided to open an indoor golf franchise while working part-time in podiatry. They found dividing their time between medicine and golf beneficial. After getting the franchise running, they plan to open their own practice. The podcast also discusses the advantages of indoor golf, finding work-life balance, tilting a portfolio towards smaller stocks, and a lease-to-own partnership offer for physicians and practice owners.
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Burnout Sparked A New Business
- Dr. Raquel Patel experienced severe burnout from excessive hours and decided to start an indoor golf simulator franchise with a friend.
- The franchise let her pursue a passion while creating an alternate revenue stream during career transition.
What The Indoor Golf Franchise Does
- The indoor golf business offers simulator bays, food and drink, and 18-hole play in about an hour.
- Dr. Patel positioned it as a weatherproof, time-efficient alternative to outdoor golf.
Franchise Funding And Revenue Plan
- Dr. Patel and her partner paid a $30,000 franchise fee and injected about $150,000 cash between them.
- They financed roughly $1,000,000 with an SBA loan and expect about $1,000,000 gross revenue the first years.