Franchise Euphoria

KC Cohen is a 35-year veteran of the corporate restructuring practice which includes workouts, turnarounds, structured liquidations, sponsor guarantee defense, receiverships and chapter 11 cases, primarily representing debtors. He has a strong dedication to the integration of technology in the practice as a solo attorney who has operated for over a quarter century without staff.   Key Takeaways: [0:18] Today’s episode of Franchise Euphoria is brought to you by IndyFranchiseLaw.com, a leading resource in the franchise space. Head over to IndyFranchiseLaw.com learn more! [0:59] Josh introduces today’s guest, KC Cohen, an Indiana-based bankruptcy attorney. [1:55] Josh welcomes KC to Franchise Euphoria. [2:55] KC shares about his background and what led him to specializing in bankruptcies and restructuring businesses. [6:47] In KC’s opinion, the first thing you need to consider as a business right now, is whether your business is part of the future or the past. [8:12] Josh and KC consider what the future of offices look like now that so many businesses have figured out how to run their businesses remotely. [11:42] Going forward, businesses will need to adapt to what the future looks like in order to flourish. [13:43] KC provides an allegory about the dependency businesses have on each other. [14:55] KC sees the situation with coronavirus as an opportunity for debtors and creditors to collaborate. [17:30] In this unique situation, KC believes that debtors shouldn’t hesitate to call their creditors to discuss their situation because they will be flexible at this time. [20:23] Josh and KC weigh the pros and cons of abatement vs. deferment. [23:35] When you begin talking about bankruptcy, the first thing to do is make sure your own house is in order. [28:15] Under Chapter 11, debtors can take advantage of a secured creditor not being established correctly, which happens more often than you would think. [33:29] In KC’s opinion, you don’t want to file bankruptcy if you can avoid it and you don’t file the day your business closes. [34:40] It is never too early to talk to a bankruptcy attorney about your situation, and KC recommends doing it before your situation goes from bad to worse. [35:22] If you want to get in touch with about KC, visit www.smallbusinesseleven.com. [36:58] Thanks for listening, and please, reach out to Josh anytime through email at josh@franchiseeuphoria.com. If you enjoyed this interview, please leave us a review on iTunes.   Mentioned in This Episode: josh@franchiseeuphoria.com www.franchiseeuphoria.com www.indyfranchiselaw.com www.smallbusinesseleven.com  

After 17 years in corporate sales Christy Wilson Delk decided to risk it all. In 1996, she sold her house and cashed out her 401(k) plan for the down payment on a $1.7 million-dollar loan she needed to buy and build a Kids ‘R’ Kids Academy franchise in Orlando, Florida. Over the next 15 years, Christy expanded twice and grew her business into one of the largest franchises in her industry before her multi-million dollar exit in 2012. Now, as a college professor and a franchise industry expert, Christy, has turned her focus to helping franchisees realize greater professional rewards by complimenting existing franchisor systems and processes with her 4 Pillars Approach. Her book, Adventures in Franchise Ownership is based on her experience and includes advice from 18 other top performers representing 12 different segments.   Key Takeaways: [0:18] Today’s episode of Franchise Euphoria is brought to you by IndyFranchiseLaw.com, a leading resource in the franchise space. Head over to IndyFranchiseLaw.com learn more! [0:59] Josh introduces today’s guest, Christy Wilson Delk, an author, speaker, and educator in the realm of franchising. [2:08] Josh welcomes Christy to Franchise Euphoria. [2:55] Christy introduces herself and sheds light on her background in the franchising industry. [6:54] For anyone who is considering “pulling the trigger” on franchising, Christy would encourage them to maximize their use of resources to determine which franchise is the best fit. [9:34] While Christy didn’t have experience in the franchising industry before buying a franchise, she discusses why that isn’t essential. [12:51] In Christy’s opinion, it is easy to get caught up in the numbers as the franchisee, but returning to your underlying passion helps revitalize your business. [15:05] One thing that gave Christy confidence in buying a franchise was making sure she had enough time and money to hire professionals such as an attorney and a CPA to assist with this venture. [16:58] Christy shares about how her experiences led her to write her book, Adventures in Franchise Ownership. [22:11] The “Four Pillar Approach” is a framework to strengthen, protect, and grow a business. [29:28] In regard to the coronavirus situation, Christy encourages everyone to think about the things you can control to keep moving your business forward. [33:44] Josh encourages everyone listening to be putting together action steps for your business to put into place when things do get back to normal. [35:47] If you want to learn more about Christy, visit her website listed below. [36:24] Thanks for listening, and please, reach out to Josh anytime through email at josh@franchiseeuphoria.com. If you enjoyed this interview, please leave us a review on iTunes.   Mentioned in This Episode: josh@franchiseeuphoria.com www.franchiseeuphoria.com www.indyfranchiselaw.com www.ChristyWilsonDelk/listeners (Download complementary worksheets and exercises) Adventures in Franchising Ownership https://www.linkedin.com/in/christywilsondelk https://twitter.com/WilsonDelk https://www.facebook.com/ChristyWilsonDelk https://www.instagram.com/ChristyWilsonDelk

Key Takeaways: [0:18] Today’s episode of Franchise Euphoria is brought to you by IndyFranchiseLaw.com, a leading resource in the franchise space. Head over to IndyFranchiseLaw.com learn more! [0:59] Josh is back with another bonus episode regarding the $2 trillion bill passed by congress last week that aims to aid individuals, public health organizations, state and local governments, big corporations, small businesses, and some educational institutions. [1:46] For this episode, Josh is going to focus on the impact of this piece of legislation on individuals and small businesses. [2:29] Josh provides a breakdown of the benefits to be provided to individuals and married couples based on their income. [5:57] If you qualify for the government payout, Josh recommends touching base with your accountant to get their advice and input on what you can expect. [6:20] For small businesses, there are two parts to this program: the SBA Disaster Loan and the Paycheck Protection Program. [7:44] Josh recommends that the first step you should take as a small business owner during this time is to visit www.SBA.gov. [8:49] The Paycheck Protection Program aims to keep small businesses (500 employees and under) open during this time where the economy has been forced shut due to COVID-19. [9:42] One of the highlights of the Paycheck Protection Program includes being able to qualify up to $10 million through an application process. The purpose being to allow business owners to be able to continue paying their employees (including yourself) and other business expenses throughout this health crisis. [12:19] If you use the money you receive for things outlined within the very broad circumstances in the terms of the program, then you get 100% forgiveness on that loan. [15:02] If you do not use the money for its intended purposes, you will pay that amount back with a maximum of 4% interest. [16:08] Additionally, if you take the money and you still end up closing your business or have employees terminated during that time period, you will not be held liable for paying the money back. [17:04] When comparing the Paycheck Protection Program to the SBA Disaster Loans, the latter of which requires collateral and does not have fixed interest capping at 4%. [18:03] If you are a business who has already had to take an SBA Disaster Loan in this situation, you can roll your loan into the Paycheck Protection Program. Josh recommends contacting your accountant if this is something you want to pursue. [19:36] Nothing mentioned in this episode was intended to be taken as legal advice, and Josh recommends getting in touch with your own lawyer to discuss your options regarding this program. [20:21] Thanks for listening, and please, reach out to Josh anytime through email at josh@indyfranchiselaw.com. If you enjoyed this interview, please leave us a review on iTunes.   Mentioned in This Episode: josh@indyfranchiselaw.com www.franchiseeuphoria.com www.indyfranchiselaw.com www.SBA.gov

Bryan Klein is the founder and CEO of THE MAX Challenge. Bryan opened the doors to his first business at just 18 years old and quickly rose to the top of his industry, receiving accolades and awards for his success. Bryan opened THE MAX Challenge’s first location in Manalapan, New Jersey, with just 32 members. Within six months he grew his member base to 500 members, and to date, THE MAX Challenge has inspired more than 100,000 transformations by way of a network of more than 80 operating centers throughout the United States and nearly 20 locations in development.   Key Takeaways: [0:18] Today’s episode of Franchise Euphoria is brought to you by IndyFranchiseLaw.com, a leading resource in the franchise space. Head over to IndyFranchiseLaw.com learn more! [0:59] Josh introduces today’s guest, Bryan Klein, the founder and CEO of THE MAX Challenge. [2:49] Josh welcomes Bryan to Franchise Euphoria. [3:47] Bryan covers the basics on what THE MAX Challenge is and the emotional story that led him to found the concept. [5:28] Prior to starting THE MAX, Bryan was a serial entrepreneur and piloted several business concepts. [7:33] Bryan considers the criteria that makes a business idea or opportunity worth pursuing. [11:41] Even as a young entrepreneur, Bryan was infatuated with the idea of franchising, and decades later when he built up his concept enough, he launched his own franchising efforts. [16:36] Josh sheds light on what makes an operations manual a living and breathing document. [18:12] Bryan views running a franchise system very similarly to how they run their individual business locations – they emphasize the quality of service given. [21:19] Bryan paints the picture of what the look and feel of walking into a location for THE MAX Challenge. [25:14] Prior to the situation with COVID-19, THE MAX Challenge had been exploring online service options, so when the government shutdown came around, they were already primed to supply online services. [31:24] If you want to learn more about THE MAX Challenge, visit their websites listed below. [32:05] Thanks for listening, and please, reach out to Josh anytime through email at josh@franchiseeuphoria.com. If you enjoyed this interview, please leave us a review on iTunes.   Mentioned in This Episode: josh@franchiseeuphoria.com www.franchiseeuphoria.com www.indyfranchiselaw.com https://themaxfranchising.com/ https://www.themaxchallenge.com/ https://www.facebook.com/THEMAXChallenge/ https://twitter.com/THEMAXChallenge https://www.instagram.com/themaxchallenge/?hl=en https://www.youtube.com/channel/UC5PhYgf-056VILaHb27DunA https://themaxfranchising.com/blog/ https://www.linkedin.com/company/max-fitness-10-week-challenge/

Key Takeaways: [0:18] Today’s episode of Franchise Euphoria is brought to you by IndyFranchiseLaw.com, a leading resource in the franchise space. Head over to IndyFranchiseLaw.com learn more! [0:59] Today is the first of a new weekly recurring mini-series Josh is starting for every Thursday. In this series, Josh will do solo episodes where he discusses the happenings of the day in franchising, particularly how they pertain to COVID-19. [2:59] On today’s episode, Josh will be focusing on how to develop a strategy to get through this uncertain time, the first step in which is assessing the situation. [4:27] For Josh in his business, this means taking a look at the clients or customers you’re serving. How are you serving them? Is it efficient or practical? [7:52] It is important to set in place a plan of attack for when reality goes back to normal, and Josh believes the opportunities for attack will be plentiful when we reach that point. [9:10] In the next couple of days, carve out the time in your day to take a hard look at your business and get an idea of where you want your business to go. Only then can you build a strategy for how to move forward after quarantines have ended. [11:05] In the meantime, get innovative with how you can conduct your business. Josh shares an example of a title company that conducts “drive by” closings. [12:18] Thanks for listening, and please, reach out to Josh anytime through email at josh@franchiseeuphoria.com. If you enjoyed this interview, please leave us a review on iTunes.   Mentioned in This Episode: josh@franchiseeuphoria.com www.franchiseeuphoria.com www.indyfranchiselaw.com

William Edmundson has launched, scaled and led brands with top-line revenue ranging from $12M to $3.3B including Hampton Inns, Cambria Suites, Embassy Suites, and Abby Executives Suites. William is currently the COO of Office Evolution and currently serves as the Treasurer of the Global Workspace Association Board and has held board positions in hospitality travel and community organizations. Key Takeaways: [0:18] Today’s episode of Franchise Euphoria is brought to you by IndyFranchiseLaw.com, a leading resource in the franchise space. Head over to IndyFranchiseLaw.com learn more! [0:59] Josh makes a quick announcement before today’s episode to share that for the time being with the coronavirus situation, Josh will be posting an additional episode on Thursdays to talk about things business owners can think about and do in these uncertain times. [2:33] Josh introduces today’s guest, William Edmundson, the COO of Office Evolution. [3:45] Josh welcomes William to Franchise Euphoria. [4:31] Williams shares his history in franchising starting from when he was in college through now with his role at Office Evolution. [6:44] There are a number of reasons why coworking spaces have become so popular with a variety of business professionals in recent years. [9:03] Office Evolution has partnered with Cushman Wakefield to assist their franchisees with selecting space to lease out and ultimately run their business. [9:58] The ultimate tenants of Office Evolution tend to be solopreneurs, such as an attorney, financial planner, therapist, etc. [13:01] There are a few items that help make the Office Evolution brand so that each location has a signature feel which is based on choices of paint colors, furnishings, décor, and more. [13:50] As an Office Evolution member, you have access to any Office Evolution location with a personal key fob, so if you are working in one city one day, but another the next, you can move around. [15:16] A key differentiator for Office Evolution as a franchise is their “suburban model.” [16:50] Every Office Evolution location has a single employee which is someone who sits at the reception desk at the front of the building. [19:26] One unique service Office Evolution offers to its tenants is a call center which is based in Salt Lake City but manages calls for all of their clients. [20:25] The typical Office Evolution franchisee is someone who has a day job looking for a side job that essentially runs itself once the business is up and running or an investor who is looking to set up multiple locations. [25:08] If you want to learn more about Office Evolution, visit their website listed below. [25:53] Thanks for listening, and please, reach out to Josh anytime through email at josh@franchiseeuphoria.com. If you enjoyed this interview, please leave us a review on iTunes.   Mentioned in This Episode: josh@franchiseeuphoria.com www.franchiseeuphoria.com www.indyfranchiselaw.com www.officeevolution.com www.officeevolutionfranchise.com www.facebook.com/OfficeEvolutionHQ

Key Takeaways: [0:18] Today’s episode of Franchise Euphoria is brought to you by IndyFranchiseLaw.com, a leading resource in the franchise space. Head over to IndyFranchiseLaw.com learn more! [0:59] On today’s episode of Franchise Euphoria, Josh is opening the discussion regarding coronavirus and what impact it will have on the franchising industry. [3:39] Josh presents four things that business and franchise owners should consider for the foreseeable future while we navigate the present situation with coronavirus. [4:14] The first idea Josh shares is the importance of practicing compassion for others during this time of uncertainty. [8:55] Secondly, Josh explains why this is a great time to reflect on ways in which you can convert your business to deal with the challenges of the present and the future. [10:57] Josh’s third point is why you should learn to be okay with and respond to the unknown and develop a level of trust in yourself as a leader. [13:10] Finally, the fourth point is that times like these present an opportunity to evaluate your priorities for both your life and your business to help remind yourself what is truly important in the grand scheme of life. [14:58] If anyone feels the need to talk through their situation, Josh would be glad to have a conversation by phone or email with anyone in need. [15:48] Thanks for listening, and please, reach out to Josh any time through email at josh@franchiseeuphoria.com. If you enjoyed this interview, please leave us a review on iTunes.   Mentioned in This Episode: josh@franchiseeuphoria.com www.franchiseeuphoria.com www.indyfranchiselaw.com www.48days.com/48-days-to-the-work-you-love/

Key Takeaways: [0:18] Today’s episode of Franchise Euphoria is brought to you by IndyFranchiseLaw.com, a leading resource in the franchise space. Head over to IndyFranchiseLaw.com learn more! [0:59] Josh introduces today’s guest, Jami Stigliano, who Josh had a chance to interview at the 2020 IFA Convention last month. [1:50] Josh welcomes Jami to Franchise Euphoria. [2:07] Jami is the founder and CEO of DivaDance, a dance choreography class franchise for adults. [3:15] DivaDance is in 18 cities total and they have two company-owned units. [3:26] In addition to doing classes, DivaDance offers party events that are popular for team building activities, bachelorette parties, etc. [4:40] While DivaDance started as Jami’s side hustle, hobby business, she recognized that the business was scalable and learned about how she could turn it into a franchise. [5:47] The first thing Jami decided to do when franchising was open another location so that she could better document the business. [7:22] Who is the ideal franchisee for DivaDance? [8:03] The foundation of DivaDance is a membership model. [10:37] Originally, Jami envisioned DivaDance as a side business, but with the success the business has had, she’s realized the opportunity is best suited for someone who can dedicate all of their time to growing their unit. [12:02] If you want to learn more about DivaDance, visit their website listed below. [12:40] Thanks for listening, and please, reach out to Josh anytime through email at josh@franchiseeuphoria.com. If you enjoyed this interview, please leave us a review on iTunes.   Mentioned in This Episode: josh@franchiseeuphoria.com www.franchiseeuphoria.com www.indyfranchiselaw.com www.divadancefranchise.com https://www.instagram.com/DivaDanceHQ/

Angela Cote is a Franchise Growth Catalyst, speaker and podcaster who helps franchisors with growth.  Her expertise comes from growing up in the family business which she helped grow to almost 500 franchised locations over the years. Angela uses her F3 approach, meaning her background on the FRANCHISOR side of the relationship, her perspective from having been a multi-unit FRANCHISEE for 18 years, and her experience in the FIELD supporting franchisees for many years.  Her main areas of focus include improving franchisors' efforts to attract qualified franchisees, improving franchisee engagement and performance, helping early franchisors navigate the steps to strategic franchise growth. Key Takeaways: [0:18] Today’s episode of Franchise Euphoria is brought to you by IndyFranchiseLaw.com, a leading resource in the franchise space. Head over to IndyFranchiseLaw.com learn more! [0:59] Josh introduces today’s guest, Angela Cote, who he had a chance to speak with while he was at the 2020 International Franchise Association Conference. Angela is a self-proclaimed Franchise Growth Catalyst and has experience as both a franchisee and franchisor. [1:59] Josh welcomes Angela to Franchise Euphoria and she opens with a brief overview of her experience with franchising. [4:06] Angela uses her F3 Advantage: a franchisee background, franchisor perspective, and field experience, and uses it to help early stage franchisors. [5:44] In Angela’s opinion, not enough people are aware of why franchising your business too quickly is a huge problem. [7:47] Angela has seen many people who are very good with their own business, but struggle with transitioning to the business of franchising. [9:46] Angela follows a very thorough checklist when assisting emerging franchisors which covers topics from unit economics to covering FDD basics. [12:13] The help doesn’t stop once Angela’s clients get their business franchised – she assists them getting started as well. [13:39] Angela shares a bit about her own podcast where she answers the most common questions she gets asked about franchising. [15:36] If you want to learn more about Angela Cote, visit her website listed below. [16:07] Thanks for listening, and please, reach out to Josh anytime through email at josh@franchiseeuphoria.com. If you enjoyed this interview, please leave us a review on iTunes.   Mentioned in This Episode: josh@franchiseeuphoria.com www.franchiseeuphoria.com www.indyfranchiselaw.com www.angelacote.com angela@angelacote.com

[0:18] Today’s episode of Franchise Euphoria is brought to you by IndyFranchiseLaw.com, a leading resource in the franchise space. Head over to IndyFranchiseLaw.com learn more! [0:59] Josh has just returned from the 2020 International Franchise Association Conference which took place in Orlando, FL last week. During his time at the conference, he had the opportunity to talk with several individuals within the franchising industry. This episode is a compilation of short interview with these people. [7:52] Josh interviews representatives from 1huddle, a competitive gaming platform for employee engagement. [11:56] Josh interviews Dan Cote from Xpressdocs, a marketing platform that helps corporations maintain their branding. [15:15] Josh interviews Tim Jaga, the VP of Business Development of Identifi, an enterprise-wide workflow software. [17:48] Josh interviews representatives from ITI Smart Solutions, a computer repair business for medium-sized businesses. [21:11] Josh interviews author, speaker, and fellow podcaster, Jay Baer, and discusses what the number one thing a franchise can do to differentiate themselves is. [24:19] Josh interviews representatives from Locate AI, a team of retail advisors focused on business growth. [35:51] Josh interviews representatives from LSM Digital Marketing Agency, a marketing business focused on helping specific business types, including franchises, grow through powerful marketing. [39:42] Josh interviews Chase Nichol from Lucid Press, a platform that allows brands to create easy, templated brands. [42:12] Josh interviews Michael Smith, the Director of Regional Sales for Scorpion, a marketing company that focuses on helping franchisors generate franchisee leads. [45:36] Josh interviews Scott McKinnonly the VP of Brand Success for World Manager, an all in one training platform for franchise brands. [48:11] Thanks for listening, and please, reach out to Josh anytime through email at josh@franchiseeuphoria.com. If you enjoyed this interview, please leave us a review on iTunes.   Mentioned in This Episode: josh@franchiseeuphoria.com www.franchiseeuphoria.com www.indyfranchiselaw.com https://1huddle.co/ https://www.xpressdocs.com/ https://identifi.net/ https://itismart.net/ https://www.jaybaer.com/ https://www.locate.ai/ https://lsm.works/ https://www.lucidpress.com/pages/ https://www.scorpion.co/franchises/#~u117r32 https://www.worldmanager.com/en-us/