# HOW TO BUILD A MILLION-DOLLAR SALON SUITE BUSINESS

An episode of [Earn Your Leisure](https://invisiblenetwork.ai/podcast/1450211392), 9 Jul 2026, 59 min.

Audio: https://podtrac.com/pts/redirect.mp3/traffic.omny.fm/d/clips/e73c998e-6e60-432f-8610-ae210140c5b1/8dbc4f54-a337-4481-9ef2-b355012b0a3d/474301eb-6a69-45bd-bdb5-b48200e865bb/audio.mp3?utm_source=Podcast&in_playlist=eac4c628-29cb-469a-b5c8-b355012b0a48

In this episode of Earn Your Leisure, Sway The Pro breaks down the business behind the beauty industry and how salon suites have become one of the most profitable models for beauty professionals and entrepreneurs. She shares how she got started, the stress of securing her first building, the pros and cons of buying vs. leasing, how to find the right real estate, why doctor’s offices can be perfect conversion spaces, and the average cost to build out a salon suite. We also discuss client retention, revenue streams, management systems, ROI timelines, celebrity clientele, professionalism, punctuality, and the biggest mistakes beauty professionals make when trying to scale. TIMESTAMPS: 00:00 Lease Day Disaster 01:17 Meet Sway The Pro 03:05 From Hoops To Suites 06:09 Buildout Horror Stories 08:11 Salon Suites Explained 09:17 Design Tiers And Pricing 13:32 Lease Vs Own Expenses 17:58 Scaling And Franchising 20:06 Start Steps And TI Money 23:33 Retention Systems And Managers 27:41 Buildout Costs And Funding 29:25 Picking The Right Area 29:46 Picking The Right Location 30:30 Run The Numbers First 32:00 Wealth Mistakes And Service 33:50 Scaling With Systems 34:27 Franchise Costs And Support 35:25 Tenants Becoming Owners 37:27 ROI And Lease Negotiation 38:18 Selling And Diversifying 41:45 Salon Suite Vs Home 43:05 Pricing And Profitability 46:04 Stand Out With Punctuality 47:34 Apps Deposits And No Shows 48:38 Celebrity Clients Boundaries 50:20 Balance And Scheduling 51:03 Mentorship Program Breakdown 53:21 Invest Fest And Pivoting 57:06 Multiple Income Streams 58:29 Where To Follow Sway #EarnYourLeisure #SwayThePro #BeautyBusiness #SalonSuites #Entrepreneurship #BusinessModel #RealEstateInvesting #BeautyIndustry #SmallBusiness #WealthBuilding #EYL Subscribe and watch more videos here: https://www.youtube.com/@EarnYourLeisure Join the EYL community for deeper training and a more detailed approach: https://www.eyluniversity.com Join the number one stock club in the world: https://www.ianinvest.com Invest Fest | August 7-9, 2026 Grab early bird tickets now: https://www.investfest.com See omnystudio.com/listener for privacy information.

## Transcript

[0:00] Speaker 1: Day I was supposed to sign my leads and my
[0:01] Speaker 1: business partner that I had been meeting with for months
[0:03] Speaker 1: didn't show up to the architect paying.
[0:05] Speaker 2: Him up front running off with my money, and the.
[0:07] Speaker 1: Contractors paying them in advance, not knowing any better, they
[0:10] Speaker 1: running off with the money.
[0:11] Speaker 3: Explain exactly what a salon suite is and why it's
[0:14] Speaker 3: becoming so popular.
[0:15] Speaker 2: It's really like real estate in the hearing beauty industry.
[0:18] Speaker 3: For somebody else they realize that they want to have
[0:20] Speaker 3: a salon suite. What's the first thing that they have
[0:22] Speaker 3: to do.
[0:22] Speaker 1: You want to make sure it makes sense because in
[0:24] Speaker 1: this business model there is a cat. Once our suites
[0:26] Speaker 1: are full, they're full, So you want to make sure
[0:28] Speaker 1: it makes sense at a one hundred percent capacity, ninety percent,
[0:30] Speaker 1: eighty percent.
[0:31] Speaker 2: What does it look like if you have five sweets empty?
[0:33] Speaker 4: I'm wondering what are the expenses as the person who
[0:36] Speaker 4: owns the building or did you not own the building?
[0:38] Speaker 5: At first?
[0:38] Speaker 1: I say it's pros and constant both. When you hear
[0:40] Speaker 1: people say I would never put money into a building
[0:42] Speaker 1: I don't own, but I always look at what you
[0:44] Speaker 1: get out of it. So if I put one hundred
[0:45] Speaker 1: k into a building, but I'm making a quarter million
[0:47] Speaker 1: and I don't want to own.
[0:48] Speaker 2: I'm okay with that.
[0:48] Speaker 6: How much does it cost for the average build up.
[0:50] Speaker 2: A sweet spot to start? It's like eighty to one
[0:52] Speaker 2: hundred k.
[0:53] Speaker 3: Beauty professionals make money, but they don't really ever generate
[0:56] Speaker 3: like real wealth.
[0:57] Speaker 6: So what's the mistake.
[0:58] Speaker 1: These stylists are off the chain with their attitudes. It's
[1:00] Speaker 1: like they think we need them, when in reality they
[1:03] Speaker 1: need the clients.
[1:03] Speaker 4: You get people information, they execute on, information that changes
[1:07] Speaker 4: their life.
[1:07] Speaker 5: What's that like for you?
[1:08] Speaker 1: It's kind of dope to be able to be the
[1:09] Speaker 1: other people what I wish I had when I was
[1:11] Speaker 1: growing up, because man if I could have just had
[1:13] Speaker 1: one person to call to ask a question, I would
[1:14] Speaker 1: have paid anything.
[1:17] Speaker 3: All right, guys, welcome back. Yeah by special episode. Absolutely, Yes, yes, yes, we.
[1:22] Speaker 6: Got somebody that's on been making making a lot of waves.
[1:26] Speaker 4: You know, we've been run to this person a little bit,
[1:29] Speaker 4: uh in atlah and finally you're here with us.
[1:34] Speaker 2: Finally we did it.
[1:36] Speaker 6: Appreciate McKinney. Yes, they can a sway, they can a
[1:39] Speaker 6: sway to pro. That's right.
[1:41] Speaker 5: Don't forget the pro.
[1:42] Speaker 3: Don't forget the bro So Salon Sweet extraordinary owner, the
[1:47] Speaker 3: first black person to actually franchise a Salon Sweet business.
[1:52] Speaker 6: Yep.
[1:53] Speaker 3: And you teach people about salon sweets and I actually
[1:55] Speaker 3: know somebody that took your course really or they went
[1:58] Speaker 3: to one of your events, so yeah, yeah, yeah, so
[2:02] Speaker 3: they were like, nah, she's legit.
[2:05] Speaker 2: Definitely les.
[2:08] Speaker 3: So it's a last week the salon sweek conversation is interesting.
[2:12] Speaker 3: We've we've had this conversation before, but it's very interesting
[2:16] Speaker 3: model it is and everybody does it differently right like that.
[2:20] Speaker 6: I don't think that there's one.
[2:22] Speaker 3: Just set way, like a few people that we've talked to,
[2:26] Speaker 3: and they all have different models.
[2:28] Speaker 6: And there's different types of salons too.
[2:29] Speaker 3: There's the women here, there's the barbershop salon, is the manicure, pedicure,
[2:34] Speaker 3: there's a combination of all of those facial So this
[2:39] Speaker 3: is this is important conversation that you're going to be
[2:41] Speaker 3: at investments as well.
[2:43] Speaker 6: But first and foremost, thank you for joining us.
[2:45] Speaker 2: Absolutely I put it.
[2:46] Speaker 4: I'll say that every time we hear like the stories
[2:49] Speaker 4: around these businesses, we always leave the episode like, damn,
[2:52] Speaker 4: we should do that.
[2:53] Speaker 2: I bet, I bet you.
[2:54] Speaker 1: I come across a lot of myss Oh my god,
[2:56] Speaker 1: ideas opportunities, this is one of them.
[2:58] Speaker 3: It's like I said, the salon sweet, especially women. I
[3:00] Speaker 3: feel like this is something that's really really big. A
[3:03] Speaker 3: lot of women want to get in for sure. How
[3:06] Speaker 3: did you what's your journey into the salon sweet business?
[3:09] Speaker 6: Yees.
[3:10] Speaker 1: So, I actually grew up in a family of beauty
[3:12] Speaker 1: pro so my sister, my mom that actually worked in
[3:14] Speaker 1: the salon. So back in the day, actually here hair salon,
[3:16] Speaker 1: hair salon, traditional hair salon were re leasing out of chair.
[3:19] Speaker 1: My sister was and mother was both like top braiders
[3:22] Speaker 1: back at home. And so I used to dobrows. I'm
[3:25] Speaker 1: from Lands in Michigan. Yep, Lance in Michigan, which is
[3:28] Speaker 1: actually the capital of Michigan.
[3:31] Speaker 5: As the choice, I was going to say, that's the
[3:32] Speaker 5: capital of Michigan.
[3:33] Speaker 1: In respect on the real town. And so I used
[3:36] Speaker 1: to do eyebrows back in the day in high school.
[3:38] Speaker 1: I really loved the environment. I just loved the freedom
[3:41] Speaker 1: the beauty pros had. Every time I went in there,
[3:42] Speaker 1: I was like, man, this is something I want to do.
[3:44] Speaker 1: So at the time, I was a basketball star, had
[3:47] Speaker 1: the opportunity to go pro chose not to go pro.
[3:49] Speaker 2: I could actually dump back then as well. Yeah seriously.
[3:52] Speaker 2: School Yeah, went to school LANCEA. Everett Magic Johnson.
[3:55] Speaker 1: Yeah we are overall record for four years was one
[3:57] Speaker 1: hundred and four and three in college.
[4:00] Speaker 2: In high school. In college, I went to Eastern Michigan
[4:02] Speaker 2: and Michigan State.
[4:03] Speaker 1: Okay, yeah, and then I actually went to go work
[4:05] Speaker 1: on this coaching staff at Michigan State as well. Before
[4:08] Speaker 1: I moved to Atlanta. Packed up my family moved to Atlanta.
[4:10] Speaker 1: So at that time, I was doing a lot of
[4:12] Speaker 1: basketball and music. So me and my twin sister, we
[4:14] Speaker 1: had a group called Twin City, so we opened for
[4:16] Speaker 1: like Lil Wayne Rick Ross. We were models, we were
[4:19] Speaker 1: on a radio, all that big stuff. Moved to Atlanta
[4:22] Speaker 1: kind of focused on the music, but I was still
[4:25] Speaker 1: attracted to that barbershop salon type of feel. So I
[4:29] Speaker 1: went in initially to work at a barbershop. I went
[4:32] Speaker 1: and got my license, worked at a barbershop, and I
[4:34] Speaker 1: walked into this building and I saw the slan suite
[4:36] Speaker 1: concept and I was like, Okay, this is different, this
[4:38] Speaker 1: is like real estate.
[4:40] Speaker 2: I started counting the doors, you know.
[4:41] Speaker 1: After I made my couple payments, I said, well, hold on,
[4:43] Speaker 1: he getting payments from all these doors and his hands off,
[4:46] Speaker 1: So this is a different business structure. So I neither
[4:50] Speaker 1: got super excited about it and shifted from one to
[4:52] Speaker 1: open a barbershop to open the salon suite. And so
[4:54] Speaker 1: I initially partnered with somebody. We opened a location in
[4:57] Speaker 1: Atlanta that did pretty well. We both had two different visions,
[5:00] Speaker 1: so we parted ways, and then I started the Encore
[5:02] Speaker 1: brand in twenty seventeen, I believe it was, and open
[5:06] Speaker 1: five locations, first black owned franchise company or franchise, a
[5:11] Speaker 1: suite franchise or and been in the business ever since.
[5:14] Speaker 3: So and your salant suites are just here in Georgia,
[5:19] Speaker 3: yep here.
[5:19] Speaker 1: Oh no, no, so hair, I mean estheticians or lash
[5:23] Speaker 1: text pretty much anybody that hair, beauty, barber spot industries.
[5:25] Speaker 1: Even nowadays we're getting like therapists and people who do reiki,
[5:29] Speaker 1: so we cover everything, so body sculpting, teeth widening, all
[5:32] Speaker 1: of that stuff.
[5:33] Speaker 5: That is a I mean, just that part is the legendary. Yeah,
[5:36] Speaker 5: we got acknowledge it.
[5:37] Speaker 4: Thank you, right, Like I mean, you've been able to
[5:40] Speaker 4: adapt be flexible from athletics entrepreneurs mute entertainment with music entrepreneurship.
[5:46] Speaker 5: But the idea of getting your business off the ground
[5:48] Speaker 5: is tough enough.
[5:48] Speaker 4: Absolutely, how do you decide that this one's done such
[5:53] Speaker 4: a great job. Let me now go to the next right,
[5:56] Speaker 4: Because moving from location location is not easy. Some people
[5:59] Speaker 4: scale two correct. What were it like the challenges that
[6:03] Speaker 4: you were facing at that time or maybe not the
[6:05] Speaker 4: growth that you were seeing.
[6:06] Speaker 5: That say okay, I feel comfortable to expand this.
[6:09] Speaker 1: Yeah, so, like I said, originally my plan was to
[6:11] Speaker 1: open a barbershop, and once I was exposed to this industry,
[6:13] Speaker 1: I said, okay, let me shift that to salon suites.
[6:15] Speaker 1: And I always share the story of that journey because
[6:17] Speaker 1: it's quite a story, from just even the day I
[6:21] Speaker 1: was supposed to sign my lead and my business partner
[6:23] Speaker 1: that I had been meeting with for months didn't show
[6:24] Speaker 1: up and didn't even partner with me. But the landlord
[6:27] Speaker 1: luckily allowed me to sign the lease to the architect,
[6:30] Speaker 1: paying him up front, running off with my money. The
[6:33] Speaker 1: contractors paying them in advance, not knowing any better, trust
[6:37] Speaker 1: and they're gonna do good business.
[6:38] Speaker 2: They running off with the money.
[6:39] Speaker 1: So I always talk about those times and how I
[6:42] Speaker 1: just had developed such high anxiety because it was just
[6:44] Speaker 1: like stressful. I couldn't understand what was going on. I
[6:47] Speaker 1: was going back and forth to the city of Atlanta.
[6:49] Speaker 1: There was even a moment where I had to go
[6:50] Speaker 1: into the City of Atlanta and literally stand on the
[6:52] Speaker 1: table and cried tears, like what the heck because they
[6:55] Speaker 1: had been sending me back and forth only to find
[6:57] Speaker 1: out I wasn't even one that was supposed to be
[6:58] Speaker 1: doing a permity. So that's a whole other story. But
[7:01] Speaker 1: they had been sending me back and forth, and I
[7:03] Speaker 1: just didn't understand what was going on. There was no consultants,
[7:05] Speaker 1: I didn't have any mentors anything at that time, so
[7:08] Speaker 1: it was just so stressful. I'll never forget those days.
[7:10] Speaker 1: And that's why I'm so passionate now about teaching other people.
[7:13] Speaker 1: You know, I feel like we all out here trying
[7:14] Speaker 1: to get a second source or third another source of income.
[7:17] Speaker 1: And I wouldn't even wish that experience on my worst enemy.
[7:19] Speaker 1: That's just how tough it was. But it was a
[7:21] Speaker 1: lot of learning lessons that helped me today, you know
[7:24] Speaker 1: what I'm saying. So it was definitely an experience, but
[7:27] Speaker 1: I believed in it so bad.
[7:28] Speaker 2: You know. Even our move to Georgia was a crazy experience.
[7:31] Speaker 1: I crashed the U haul truck before we even left,
[7:35] Speaker 1: and you know, but I just believed in it that
[7:37] Speaker 1: much and I really wanted to.
[7:38] Speaker 5: Is it you?
[7:39] Speaker 4: Is it you as just you as a solo entity,
[7:41] Speaker 4: or is it you sist mom going into this venture right,
[7:45] Speaker 4: because sometimes when you're going through it as an entrepreneur,
[7:47] Speaker 4: it's just you and that burden feels on you, like
[7:51] Speaker 4: is there a support system or are they like your
[7:53] Speaker 4: partners in this at the time.
[7:54] Speaker 2: Nope, at the time, no partners. Definitely a support system.
[7:57] Speaker 1: My sister had moved to Dallas for a second, but
[7:58] Speaker 1: she always helped me with every thing that I do,
[8:00] Speaker 1: But she wasn't officially like a part of the team
[8:02] Speaker 1: until recently till a few years ago. But at that time,
[8:04] Speaker 1: it was just me, literally, just me, just trying to
[8:06] Speaker 1: figure it out by myself, jumping off the cliff and yeah,
[8:10] Speaker 1: it was worth it though.
[8:11] Speaker 3: So for people that may not be familiar, explain exactly
[8:14] Speaker 3: what a salon suite is absolutely and why it's becoming
[8:18] Speaker 3: so popular that model.
[8:20] Speaker 1: So salon suite is basically when you take a commercial
[8:22] Speaker 1: space and you're breaking into smaller rooms and you lease
[8:24] Speaker 1: it to beauty pros. Beauty pros, it's a hairstyle that's
[8:26] Speaker 1: barber lash, tach esthetician, like some of the names I
[8:28] Speaker 1: listed earlier. So it's really like a real estate in
[8:32] Speaker 1: the hair and beauty industry. So me as the owner,
[8:34] Speaker 1: I don't have to help them find clients. I don't
[8:36] Speaker 1: have to worry about their pricing, their scheduling, products, nothing.
[8:38] Speaker 1: I'm literally just providing the space, managing the space and
[8:41] Speaker 1: making sure it's great.
[8:44] Speaker 2: And so that's pretty much what it is.
[8:46] Speaker 1: And the thing that the reason why it's so common
[8:48] Speaker 1: is everybody wants to be their own boss nowadays, so
[8:50] Speaker 1: that allows them to be their own boss. They get
[8:52] Speaker 1: to come in, customize the sweet to reflect their style.
[8:54] Speaker 1: They don't work for me compared to a traditional salon
[8:56] Speaker 1: of barbershop, I have to help them find clients. They
[8:58] Speaker 1: technically do work for me. So this is the complete opposite.
[9:01] Speaker 1: And it's not only more lucrative, but it's more semi
[9:04] Speaker 1: passive and just less well sometimes it could be stressful,
[9:09] Speaker 1: but I think maybe less stressful compared to traditional salona barbershop.
[9:12] Speaker 4: So almost in a sense, you're like the landlord correct,
[9:14] Speaker 4: so that they literally literally the landlord collecting. We spoke about,
[9:20] Speaker 4: like I said, this industry before. Are you creating the
[9:24] Speaker 4: designs in the room or do they have the freedom
[9:26] Speaker 4: to create inside the room? Is it some of them
[9:28] Speaker 4: furnish or is there a scale that you have to say, hey,
[9:31] Speaker 4: if you want this space and its furnished, it is this.
[9:34] Speaker 4: Are there tears to rent in the space or how
[9:36] Speaker 4: does that work?
[9:36] Speaker 2: That's a great question.
[9:37] Speaker 1: So primarily I like to stick with the business model
[9:39] Speaker 1: where we do the share space. So we don't furnish
[9:41] Speaker 1: most of the suites. We keep them unfurnished, and the
[9:44] Speaker 1: reason being a lot of beauty pros they want to
[9:46] Speaker 1: bring their own chair. You know, they don't want our
[9:47] Speaker 1: standard black chair, they want a purple chair, they want
[9:49] Speaker 1: a green chair, and so they really like that business model.
[9:53] Speaker 1: So in regards to the tears, right, So we have
[9:55] Speaker 1: tested furnishing a couple suites. There are some people who
[9:58] Speaker 1: want to turn key salon suite, but for the most
[10:00] Speaker 1: part we do unfurnished and it saves money not only
[10:03] Speaker 1: for the owners because we don't have to run plumbing
[10:04] Speaker 1: through every single suite, but we also don't have to
[10:06] Speaker 1: furnish every single suite, and we don't have to inspect
[10:08] Speaker 1: the furniture, which is a lot and so we save
[10:10] Speaker 1: a lot of money. And then for the beauty pros,
[10:11] Speaker 1: it's a win for them because they don't have to
[10:13] Speaker 1: use our furniture, they get to great a rent for
[10:16] Speaker 1: a lower rate, and I just like the camaraderie that
[10:19] Speaker 1: it creates. Some salon suits are so private you don't
[10:20] Speaker 1: even know who you work next to. So with this
[10:22] Speaker 1: business model, they get their privacy, but they also get
[10:25] Speaker 1: to go to the share shampoo bo and dryers and
[10:27] Speaker 1: meet other people and become friends. So for example, my
[10:30] Speaker 1: first location, we're going on our sixth year. I want
[10:33] Speaker 1: to say eighty five percent of the beauty pros that
[10:35] Speaker 1: work there have been there since day one. But their
[10:37] Speaker 1: friends and they don't want to leave each other. So
[10:39] Speaker 1: that's the business model that I like to teach. But
[10:41] Speaker 1: some of my students they will do PARSI furnished, fully furnished,
[10:44] Speaker 1: So there is different tiers, but I primarily do the
[10:46] Speaker 1: share space model.
[10:47] Speaker 5: How many sweets and location.
[10:48] Speaker 1: One sixteen that's the first location sixteen suitets.
[10:52] Speaker 2: Our biggest location in Sandy Springs has twenty four.
[10:54] Speaker 6: Suitits and they get to they get to name their own.
[10:58] Speaker 1: They do they name it, They get their own business license,
[11:00] Speaker 1: their own LLC. Literally, they operated like it's their own
[11:03] Speaker 1: business without all the extra overhead that we take on.
[11:05] Speaker 3: So from a financial standpoint, for a regular hair Salona barbershop,
[11:11] Speaker 3: you have two thousand square feet and then you just
[11:14] Speaker 3: put ten barbers in there, correct, and they all work
[11:16] Speaker 3: for the same barbershop, right, Yeah, like half Moon barber
[11:21] Speaker 3: This one is you breaking it into little cubicles, correct,
[11:25] Speaker 3: with their own door. So from a health standpoint, because
[11:28] Speaker 3: that was big during COVID too, it's like you're separated
[11:31] Speaker 3: from a health standpoint yep. Also from an entrepreneurial standpoint,
[11:35] Speaker 3: they can have their own trademark, their own business, their
[11:38] Speaker 3: own color literally, as opposed to just being under one umbrella.
[11:42] Speaker 3: They might want to be independent. Financially, how does that work?
[11:46] Speaker 3: You charge them more money than it would be in
[11:48] Speaker 3: a traditional set.
[11:50] Speaker 2: For the most part.
[11:51] Speaker 1: I mean, I've been doing my research and it seems
[11:53] Speaker 1: like the traditional rent is kind of going up. But
[11:55] Speaker 1: just to give you an example, so the rooms are
[11:56] Speaker 1: about ninety five to one hundred and five square.
[11:58] Speaker 2: Feet a single suite.
[12:00] Speaker 1: I always say it's like the size of a master
[12:01] Speaker 1: bathroom and a residential home, and so that's that's the
[12:05] Speaker 1: average suite. We do lease them out to different hairstyle as,
[12:10] Speaker 1: beauty pros and everything like that. Ninety five to one
[12:12] Speaker 1: hundred five square feet. We charge about two to fifty
[12:14] Speaker 1: a week. That's unfurnished. Now, if we furnish it, we're
[12:16] Speaker 1: talking more like three twenty five. So two to fifty
[12:19] Speaker 1: a week is every week, every Friday. They pay rent automatic,
[12:22] Speaker 1: just like residential and so it's pretty lucrative. So I
[12:25] Speaker 1: would say a chair is more so like one fifty
[12:27] Speaker 1: one seventy five. And I always say salon sweets really
[12:29] Speaker 1: is for the next.
[12:30] Speaker 2: Level of beauty pro.
[12:31] Speaker 1: It's for the beauty pro that has established clientele because
[12:34] Speaker 1: again we're not really helping them with marketing. So you
[12:36] Speaker 1: want to make sure that they're established and they understand
[12:38] Speaker 1: that coming in, because there's a lot of talk about,
[12:40] Speaker 1: you know, salon suites have killed the culture, you know,
[12:42] Speaker 1: the barbershop talk, the salon talk, and I'm like, you know, well,
[12:45] Speaker 1: the beautiful thing is everybody has options.
[12:47] Speaker 2: If you want to go to a traditional salon which
[12:48] Speaker 2: I recommend.
[12:49] Speaker 1: I recommend coming out of school that you go to
[12:51] Speaker 1: a traditional salon, a barbershop to build your clientele. I
[12:53] Speaker 1: don't recommend you go straight to a salon suite because
[12:55] Speaker 1: you're not ready. So, you know, all money isn't good money.
[12:58] Speaker 1: When it comes to leasing out through suites, we like
[12:59] Speaker 1: to make sure or that they are established and that
[13:01] Speaker 1: they're just They understand that they're one hundred percent on
[13:04] Speaker 1: their own and I'm literally just the landlord collecting rent.
[13:07] Speaker 2: It's a plumbing or electrical issue.
[13:08] Speaker 1: We assist with that, but they are one hundred percent
[13:11] Speaker 1: on their own, so they can. We do have some
[13:12] Speaker 1: restrictions when it comes to decorating, but for the most part,
[13:16] Speaker 1: they are pretty flexible.
[13:17] Speaker 2: We do allow them to paint, you know, hang some shelbings,
[13:20] Speaker 2: some TV.
[13:20] Speaker 1: Stuff like that, and that's what they love because they
[13:23] Speaker 1: get to walk in and it's their own salon, their
[13:25] Speaker 1: own barbershop. And even if we furnish it, we still
[13:27] Speaker 1: allow them to paint, put up wall paper and stuff
[13:29] Speaker 1: like that. But there are some restrictions, but for the
[13:32] Speaker 1: most part.
[13:33] Speaker 5: Real estate is tricky.
[13:34] Speaker 4: Sit again, I said real estate is tricky, Yeah, it is,
[13:36] Speaker 4: and it can be very capital intensive. Absolutely, and so
[13:40] Speaker 4: I'm thinking, right, we got average three hundred and fifty
[13:43] Speaker 4: of room, we got sixteen rooms, Right, we're almost eight
[13:47] Speaker 4: thirty five hundred a week, maybe a little give or take. Right,
[13:52] Speaker 4: we do that by four weeks, pretty decent.
[13:55] Speaker 6: Uh huh.
[13:55] Speaker 4: Right, So I'm wondering what are the expenses as the
[13:59] Speaker 4: person who who owns the building?
[14:01] Speaker 5: Or did you not own the building at first?
[14:02] Speaker 4: Because that that you got to take that into account.
[14:06] Speaker 5: You're leasing and now it's a sublease.
[14:07] Speaker 2: Yeah, yep, I.
[14:08] Speaker 1: Lease, but I do teach some of my students to buy,
[14:10] Speaker 1: some some do lease. And people always ask me what's
[14:13] Speaker 1: the best raw. I'll say it's pros and constant both.
[14:15] Speaker 1: You know, I always tell people. You hear people say
[14:17] Speaker 1: I will never put money into a building I don't own,
[14:20] Speaker 1: and I understand it to a certain degree, but I
[14:21] Speaker 1: always look at what you get out of it. So
[14:22] Speaker 1: if I put one hundred k into a building, but
[14:24] Speaker 1: I'm making a quarter million and I don't want to own,
[14:26] Speaker 1: I'm okay with that.
[14:27] Speaker 2: You know, you got to.
[14:28] Speaker 1: It's a certain responsibility to own that some people aren't
[14:31] Speaker 1: willing to take on right now, So me primarily I lease.
[14:34] Speaker 1: The expenses are pretty standard commercial expenses. You know, you
[14:37] Speaker 1: got a CAM if they're an Appliaza cam fee, so
[14:40] Speaker 1: that's utilities, CAM covers common area maintenance, so that's water
[14:45] Speaker 1: and maintaining the building. Let me see Wi Fi security, insurance.
[14:52] Speaker 1: But your top two is going to be your rent,
[14:53] Speaker 1: your electricity.
[14:54] Speaker 2: Yeah, but the most.
[14:55] Speaker 5: Insurance for the building or does each sweetenat insurance?
[14:58] Speaker 1: Now, so that's a good question. I don't rea acquire
[15:00] Speaker 1: each sue. I do encourage them. I used to require it.
[15:03] Speaker 1: It was too much to manage. But I do encourage
[15:06] Speaker 1: that they do get insurance because it also protects their
[15:07] Speaker 1: equipment and stuff, even if they go do like a
[15:09] Speaker 1: house called or something like that. But yes, I do
[15:11] Speaker 1: pay insurance for my portion of the of the plaza.
[15:14] Speaker 2: For my building for my business.
[15:16] Speaker 6: So you said three two fifty a week.
[15:19] Speaker 1: That's an average rate because we had different sizes, so
[15:21] Speaker 1: we had some that were to set out.
[15:23] Speaker 2: Yeah, on average.
[15:25] Speaker 3: Are there other revenue opportunities from it too? Is like
[15:28] Speaker 3: we will rent you towels or we'll rent you oil.
[15:31] Speaker 3: It's just a two fifties, that's it. I do.
[15:33] Speaker 1: I do provide a washer and dryer. There are some
[15:36] Speaker 1: owners that find other ways to make income. I like
[15:38] Speaker 1: to really keep it as passive as possible. I try
[15:41] Speaker 1: like the vending machine, and I found myself going every
[15:43] Speaker 1: week filling the chips up more than I was actually
[15:45] Speaker 1: running a business. And I'm like, I'm only making two
[15:47] Speaker 1: hundred dollars a month from this, but I'm up here
[15:49] Speaker 1: every day putting in Fredo's and three thos episode.
[15:52] Speaker 2: Oh really, y'all said something like that.
[15:56] Speaker 1: So I was like, you know what, Well, what I'll
[15:57] Speaker 1: do is I rent out this space to another vendor
[15:59] Speaker 1: and they can do the bitter machine. Same thing with
[16:01] Speaker 1: the ATM. Just get a percentage of an ATM. So
[16:04] Speaker 1: I like to do it that way. But there are
[16:05] Speaker 1: bub pros or saliance we owners that sell products and
[16:09] Speaker 1: they get into it a lot more.
[16:10] Speaker 2: Than I would like to.
[16:11] Speaker 6: So your model is just just rent, Just rent.
[16:13] Speaker 2: That's how I like to do it. I don't have
[16:14] Speaker 2: to worry about nothing.
[16:15] Speaker 4: Being an athlete, and I wonder how a lot of
[16:18] Speaker 4: things can correlate to business discipline as an athlete, Yes,
[16:23] Speaker 4: also disciplined with money, because.
[16:25] Speaker 5: Now I mean you're making the money. Yeah, Well you
[16:27] Speaker 5: always did. You have to become disciplined, Like how did you?
[16:30] Speaker 2: I did have to become disciplined. I did learn a lot.
[16:32] Speaker 1: There were some mistakes that I made that I'm glad
[16:35] Speaker 1: that I made them early, to be honest with you. So, yeah,
[16:39] Speaker 1: but I do think sports help for sure. I always
[16:40] Speaker 1: say that sports help would discipline. I encourage everybody, even
[16:43] Speaker 1: if you don't plan to go pro, just play some
[16:44] Speaker 1: type of sports because I definitely think it helps just overall.
[16:48] Speaker 1: So I'm grateful for that. But yeah, I definitely learned
[16:51] Speaker 1: some financial lessons.
[16:53] Speaker 5: We bought some things that we bought.
[16:54] Speaker 1: Some things we weren't as organized, not having good accountant,
[16:58] Speaker 1: you know what I mean.
[16:59] Speaker 2: So but like I said, I'm glad I learned that
[17:01] Speaker 2: early on.
[17:03] Speaker 6: Who would you rather have in your salon suite?
[17:05] Speaker 3: So? Who makes the best clients? Is it Barbara? Is
[17:08] Speaker 3: is it here? Salon people? Is it eyebrow people, like.
[17:13] Speaker 1: I say, primarily as cosmetologists, But really it's more so
[17:16] Speaker 1: the person that's just established, honestly, So even if it's
[17:18] Speaker 1: a barber, if it's an esthetician, lash tech, makeup artists,
[17:22] Speaker 1: whoever is established, whoever looks established online. Because for the
[17:25] Speaker 1: most part, all I can do is look online, look
[17:27] Speaker 1: at their social media, check their book in site, make
[17:29] Speaker 1: sure they're legit.
[17:31] Speaker 2: So that's a good tenant.
[17:32] Speaker 1: Somebody who's established, you don't have to worry about if
[17:34] Speaker 1: they're going to pay rent because you can see that
[17:36] Speaker 1: they have clientele, they're going to make money. And also,
[17:38] Speaker 1: somebody has good energy. I'm big on energy. I don't
[17:40] Speaker 1: care how popular you are. If I feel like your
[17:42] Speaker 1: energy is off, I don't want you in the space.
[17:45] Speaker 1: And people who are professional understand customer service, because there's
[17:48] Speaker 1: a lot of beauty pros that just don't have that
[17:50] Speaker 1: business acumen. They don't understand basic business fundamentals, and so
[17:53] Speaker 1: that causes some issue some time.
[17:54] Speaker 2: So I try to just look at those things. When
[17:56] Speaker 2: she was in who's the least.
[17:58] Speaker 4: To How do we get fromation one to location two?
[18:01] Speaker 4: Was it by demand or did you just see that, Hey,
[18:06] Speaker 4: we've made this here, let's try to do this in
[18:09] Speaker 4: another location and see what we can replicate it.
[18:11] Speaker 2: Yeah.
[18:11] Speaker 1: So actually I wasn't even looking for a second location,
[18:14] Speaker 1: but a gentleman had called me and said, hey, sweet,
[18:15] Speaker 1: I know you do salon suites. We have this hair
[18:17] Speaker 1: store that's kind of built out like salon suite, you
[18:19] Speaker 1: want to take a look at it, and it was perfect.
[18:22] Speaker 1: So my first two locations were pretty much like my
[18:24] Speaker 1: first location was a doctor's office. So I always say,
[18:26] Speaker 1: look for a doctor or a dental office. Typically they
[18:29] Speaker 1: already have good sized rooms. I already have plumbing and
[18:31] Speaker 1: electrical you know, they do everything a one and so
[18:35] Speaker 1: that's basically what we look forward to. Second location, we
[18:38] Speaker 1: had to build out like maybe three suites.
[18:40] Speaker 2: So it wasn't planned. It was an opportunity that came
[18:42] Speaker 2: to me.
[18:42] Speaker 1: But it was perfect timing because I had learned a
[18:44] Speaker 1: lot throughout that first location, so we were able to,
[18:47] Speaker 1: you know, do the second location. It was a lot
[18:49] Speaker 1: easier in regards to the other locations enfranchising and so
[18:53] Speaker 1: this will I always say, exposure is so important and
[18:55] Speaker 1: you have the you know, proximity and you have the
[18:56] Speaker 1: right people around you. Because I wasn't thinking about franchise,
[18:59] Speaker 1: and I think it may have lost my mind, but
[19:00] Speaker 1: I was thinking that it just had more requirements than
[19:03] Speaker 1: I needed. I was just thinking maybe it's too big,
[19:05] Speaker 1: and it's why you never want to limit yourself. But
[19:07] Speaker 1: I had this gentleman and he was like, wait, why
[19:09] Speaker 1: aren't you franchise and I was like, man, I don't
[19:11] Speaker 1: think I can franchise.
[19:12] Speaker 2: And he was like, how do you even know.
[19:13] Speaker 1: You haven't even called and asked and inquired about it.
[19:15] Speaker 1: And so when I did, they were like, yeah, you
[19:17] Speaker 1: can franchise. It's just you know, you got to pay
[19:20] Speaker 1: and that's it. So you know, we was more to it.
[19:22] Speaker 1: You got to create the FDD and the one hundred
[19:24] Speaker 1: page document and all of that. But anyways, we did that.
[19:27] Speaker 1: My first deal ended up being a three unit deal.
[19:29] Speaker 1: So what we did was our model was we would
[19:32] Speaker 1: sell a turnkey ready salon suite to a franchise, so
[19:36] Speaker 1: then we franchise it. We still get the franchise feed,
[19:38] Speaker 1: we still get the royalties, but within that three unit deal,
[19:41] Speaker 1: they had to build two more units. In order to
[19:42] Speaker 1: get a turnkey location, you have to agree to open
[19:45] Speaker 1: two more locations. And so that's how we kind of
[19:47] Speaker 1: started out with that three unit deal.
[19:49] Speaker 5: Give them three and then they got a bill to.
[19:50] Speaker 2: Give them one. They got a bill to give them one,
[19:52] Speaker 2: they got a build too, and so that's what we did.
[19:54] Speaker 1: I actually sold that first location, it was sixteen sweets
[19:56] Speaker 1: for around like half a million dollars. Still was able
[19:59] Speaker 1: to get royalties from and then again they had to
[20:01] Speaker 1: build two more locations, which they did.
[20:03] Speaker 3: So for some way, we'll talk about the franchise model
[20:06] Speaker 3: for sure, and for somebody that's okay. They realize that
[20:09] Speaker 3: they want to have a salon suite. What's the first
[20:13] Speaker 3: thing that they have to do? Obviously, you know, you
[20:14] Speaker 3: got to find a location for sure, build it out.
[20:19] Speaker 3: Do you recommend that they try to get people that's
[20:22] Speaker 3: going to work in there before like, what's the steps for?
[20:25] Speaker 6: Yeah?
[20:26] Speaker 2: The steps first?
[20:26] Speaker 1: Of course, you got to, you know, make sure you
[20:28] Speaker 1: have the funny before you even look for a location.
[20:29] Speaker 2: So that's a big thing.
[20:30] Speaker 1: A lot of people out here just dream and looking
[20:32] Speaker 1: for locations and I'm like, landlord is not even gonna
[20:33] Speaker 1: entertain you because you don't have the money to pull
[20:35] Speaker 1: the trigger. But it's going to be finding the location,
[20:37] Speaker 1: which can be difficult sometimes because you want to make
[20:39] Speaker 1: sure you have ample parking and you want to make
[20:41] Speaker 1: sure it makes sense because in this business model there
[20:43] Speaker 1: is a cap. I know, we don't really like investments
[20:45] Speaker 1: where there's a cat, but once our suites are full,
[20:47] Speaker 1: they're full, So you want to make sure it makes
[20:49] Speaker 1: sense at one hundred percent capacity. I teach my students
[20:51] Speaker 1: to run the numbers at ninety eight percent. What does
[20:54] Speaker 1: it look like if you have five suits empty? And
[20:56] Speaker 1: you want to know those numbers before you sign the lease.
[20:57] Speaker 1: And that's just so important because people are so decided
[21:00] Speaker 1: to sign the least just to say they own a
[21:01] Speaker 1: business and always say it's a lot of broke business
[21:04] Speaker 1: owners out there, and it's a right and the wrong
[21:05] Speaker 1: way to do everything. So I'm really big on making
[21:07] Speaker 1: sure they do it so that's actually profitable.
[21:09] Speaker 2: But anyways, we're going to.
[21:10] Speaker 1: Find a location, then we're going to hire an architect
[21:13] Speaker 1: that's going to come in and make sure we maximize
[21:14] Speaker 1: the space, get as many sweets as possible. Then we're
[21:17] Speaker 1: going to be in the contractor in who's going to
[21:19] Speaker 1: build out the plan that the architect created. During that time,
[21:22] Speaker 1: we go through permitting. I'm sure you're all familiar with
[21:23] Speaker 1: the permitting process. It could be thirty days, the three years, no,
[21:28] Speaker 1: so you know, we're having patients during that timeframe building
[21:32] Speaker 1: up the salone suite. And then we like to prelease
[21:34] Speaker 1: just like a apartment complex. So we were about eighty
[21:37] Speaker 1: five percent done with the buildout. We like to prelease,
[21:40] Speaker 1: get them in early, and then of course you have
[21:42] Speaker 1: to do your final inspection, get your co do you
[21:44] Speaker 1: officially open. So those are pretty much just in a summary.
[21:48] Speaker 6: What type of buildings do you look for, because it's
[21:50] Speaker 6: like each suite you got to have like air conditioning
[21:52] Speaker 6: or is this you central air condition for the whole thing.
[21:54] Speaker 1: Hope, you do have to have unless it's like a
[21:55] Speaker 1: building that's grandfathered in and it's old. But for the
[21:57] Speaker 1: most part, yes, you need a sprinkler. You need age
[22:00] Speaker 1: back each in each one each week. So if that's
[22:03] Speaker 1: not there, you got to put that in.
[22:04] Speaker 2: Correct, you do have to put that in each one.
[22:06] Speaker 4: Which that's that's like why like the dentist's office exactly
[22:09] Speaker 4: what the doctor's exactly makes a lot of sense exactly.
[22:12] Speaker 1: Now, sometimes the rooms can be too big, but a
[22:14] Speaker 1: lot of times there are the perfect size.
[22:16] Speaker 5: For sweet and a lot of them have sinks.
[22:17] Speaker 2: A lot of them have sinks, plumbing and electrical.
[22:20] Speaker 6: So yeah, so what type of realitate are you looking for?
[22:22] Speaker 1: Yes, primarily that's what I'm looking for first, is a
[22:25] Speaker 1: deno or a doctor's office. You know, maybe sometimes the
[22:27] Speaker 1: office suites, but a lot of times they don't have
[22:29] Speaker 1: the plumbing and the electrical. But it's all good because
[22:32] Speaker 1: one thing I also teach is TI tendant improvement. That's
[22:34] Speaker 1: when the landlord gives you money towards the build out.
[22:36] Speaker 1: I mean I've had students get two hundred thousand, one
[22:38] Speaker 1: hundred and seventy thousand. I mean the landlord is paying
[22:40] Speaker 1: for their full buildout. So that's one thing. You know,
[22:43] Speaker 1: we go in there talk about that. Yep, so t
[22:46] Speaker 1: I and people people are like, why would the landlord
[22:48] Speaker 1: you know, people would be under my comments like she's
[22:50] Speaker 1: cat the landlord wouldn't pay it. I'm like, y'all, just
[22:52] Speaker 1: you don't know what you don't know. That landlord absolutely will.
[22:55] Speaker 1: And the reason they do that is because they want
[22:57] Speaker 1: you to be a long term tenant. They also see
[22:58] Speaker 1: it as an investment. They know that you're about to
[23:00] Speaker 1: pay them for the next seven ten years, so they
[23:02] Speaker 1: gonna get that money back on the back end. But
[23:04] Speaker 1: you want to go in there, I like to say,
[23:05] Speaker 1: take a GC in there before you even sign the agreement,
[23:08] Speaker 1: because they can spot off things that we can't spot out,
[23:10] Speaker 1: you know what I'm saying. And so we go in there,
[23:12] Speaker 1: we see what's right what's wrong, and we use that
[23:15] Speaker 1: to leverage our negotiating when it comes to the TI.
[23:17] Speaker 1: So we're always shooting for one hundred percent in TI.
[23:20] Speaker 1: Of course that's if you're leasing. You know, if you're buying,
[23:22] Speaker 1: you're not getting any TI. But sometimes we get fifty
[23:25] Speaker 1: percent towards the build out forty percent, but we try
[23:27] Speaker 1: to get something in TI from the landlord which goes
[23:30] Speaker 1: to towards the build out and you don't have to
[23:32] Speaker 1: pay that back.
[23:33] Speaker 5: How how's the retention with the people that you're leasing.
[23:36] Speaker 4: I know, sometimes people can start out in a room
[23:39] Speaker 4: and maybe it's we need a bigger suite, and then
[23:41] Speaker 4: the clientele becomes to bid that, Hey, maybe I gotta
[23:45] Speaker 4: go somewhere else, Like, how does that work for you?
[23:47] Speaker 6: Yeah?
[23:47] Speaker 1: I don't think that's really the problem because most people
[23:49] Speaker 1: who work in the slants we work off appointments only,
[23:51] Speaker 1: so they're usually only servicing one client at a time,
[23:53] Speaker 1: unless somebody's trying to run a whole salon.
[23:55] Speaker 2: Or something like that.
[23:56] Speaker 1: But the retention I think is one hundred percent up
[23:58] Speaker 1: to the owner, you know, even though we teach for
[24:00] Speaker 1: it to be somebody passed. If I think it's important
[24:02] Speaker 1: that your presence is still felt. So even though I'm
[24:04] Speaker 1: not there every weekend, every month, I still send out
[24:06] Speaker 1: email automations you know, happy holidays, and I just stay
[24:10] Speaker 1: in the loop ask them is there anything we could
[24:12] Speaker 1: do better? So I think that's important. Also goes back
[24:15] Speaker 1: to just you know who you lease to. You know,
[24:16] Speaker 1: like I said, all money isn't good money. So you
[24:18] Speaker 1: want to make sure that these people are established because
[24:20] Speaker 1: if not, they're going to be looking.
[24:21] Speaker 2: To leave soon. So I think it's just.
[24:24] Speaker 1: About you know, if there's an issue, you you know,
[24:26] Speaker 1: communicating that and taking care of a plumbing or electrical issue.
[24:29] Speaker 1: Those things really helped with retention and so I did it.
[24:32] Speaker 1: I was really big on that and so I was able.
[24:34] Speaker 1: Like I said, my first location, eighty five percent of
[24:37] Speaker 1: people are still there from day one.
[24:39] Speaker 2: But it can.
[24:40] Speaker 1: I mean, just like real estate. You know, you got
[24:42] Speaker 1: sweet squatters too, that's what we call them. That's a
[24:44] Speaker 1: real thing. Somebody who will not pay but stays there
[24:48] Speaker 1: and they treated just like an apartment complex if you go.
[24:50] Speaker 2: That actually happened to me. One time. I had to
[24:51] Speaker 2: call the police.
[24:52] Speaker 1: This lady wouldn't leave, and he was like, there's nothing
[24:54] Speaker 1: we could do and it was the worse feeling walking
[24:57] Speaker 1: through my salon suites looking at this person do hair.
[25:00] Speaker 1: They're not paying me, and it was nothing I could
[25:01] Speaker 1: do but wait for a court date so that lesson
[25:04] Speaker 1: what I learned With that, I met an attorney. He said, well,
[25:06] Speaker 1: you know, like we works in these office spaces, they
[25:09] Speaker 1: use a license agreement. He said, with the license agreement,
[25:12] Speaker 1: you don't got to deal with squatters. You can get
[25:13] Speaker 1: them right out of there because you're not leasing the
[25:14] Speaker 1: space to them. So once we made that change, which
[25:17] Speaker 1: is major, there's a lot of signs we own us
[25:18] Speaker 1: to this day that don't even know that. So now
[25:20] Speaker 1: we don't deal with sweet squatters with something.
[25:23] Speaker 4: It makes me think of like the systems that you
[25:26] Speaker 4: didn't have in location one, correct that you implemented in
[25:30] Speaker 4: location two, and likes that are there a bunch of
[25:33] Speaker 4: those that.
[25:34] Speaker 2: There is in each location. We learned something and we
[25:36] Speaker 2: just got better.
[25:37] Speaker 5: Yeah, what are some of those things? That's a good one.
[25:39] Speaker 2: Yeah, for sure.
[25:39] Speaker 1: Like even when we go back, so when I take
[25:41] Speaker 1: my students, I like to take them to the first
[25:42] Speaker 1: location in the last location because the first location it's
[25:44] Speaker 1: hard for me. Tomn walk through I'm like, dang, why
[25:46] Speaker 1: do I got regular door knobs?
[25:47] Speaker 2: Like oh that got keys?
[25:48] Speaker 1: Like you know what I'm saying, So stuff like that,
[25:50] Speaker 1: you know, keyless entry, just having true systems in place,
[25:54] Speaker 1: the email automations, like I said, just making my presence
[25:56] Speaker 1: be felt, trying to think what else.
[25:59] Speaker 2: Pay structure, the late fee structured.
[26:02] Speaker 1: Just learning that, and I think that was pretty much
[26:06] Speaker 1: off the top of my head what I can think
[26:08] Speaker 1: of as far as you know, I'm sure there's other
[26:09] Speaker 1: lessons and just how to deal with people again, how
[26:11] Speaker 1: to filter out the bad tenants and the good tenants.
[26:14] Speaker 1: So lots of little lessons like that that we just
[26:16] Speaker 1: continuously kept learning. And so I brought my sister on board,
[26:19] Speaker 1: I want to say, a couple of years ago. So
[26:20] Speaker 1: she worked for Samsung. She was like in charge of
[26:24] Speaker 1: approving like all the new devices and stuff. So she
[26:26] Speaker 1: was really big on systems. So she came in implemented
[26:29] Speaker 1: a lot of systems that really really helped us.
[26:31] Speaker 4: Yeah, for sure, are there property managers at each location
[26:33] Speaker 4: or is it you and like the families going around
[26:37] Speaker 4: making sure that you're seen.
[26:38] Speaker 1: Yep, So at first it was me, which was another
[26:42] Speaker 1: big lesson that I learned because I gave everybody my
[26:44] Speaker 1: phone number, and that was the worst decision ever, because
[26:46] Speaker 1: when there's a leak, all twenty people calling me and
[26:48] Speaker 1: I'm like, I just need to hear it from one person.
[26:50] Speaker 1: So what I like to do is a point one
[26:53] Speaker 1: person from each location is like the leason, so they're
[26:56] Speaker 1: like the salon manager, and that's the only person that
[26:58] Speaker 1: has my number. So if there's any issue that go on,
[27:00] Speaker 1: they understand to let this line manager know she's the
[27:02] Speaker 1: one that contacts me. I'll contact the team. And that's
[27:04] Speaker 1: when I was more involved. Now I'm not that involved
[27:06] Speaker 1: at all. And then to compensate her, I just discount
[27:10] Speaker 1: her like two, like fifty dollars a week, so about
[27:12] Speaker 1: two hundred dollars a month, and they appreciate that. And
[27:14] Speaker 1: so there's some weeks we talk, there's some weeks we
[27:16] Speaker 1: don't talk. But just having that liaison is extremely helpful.
[27:19] Speaker 1: The rest of the tenants can only contact me by email,
[27:23] Speaker 1: and that's a big lesson that I learned, because that
[27:24] Speaker 1: would drive you crazy. I remember just feeling overly, super
[27:28] Speaker 1: overwhelmed with everybody having my number. It was a point
[27:31] Speaker 1: of time where I hated my ring tone. It just
[27:33] Speaker 1: gave me instan anxiety, like now what you know what
[27:35] Speaker 1: I'm saying. So a lot of hard lessons, but you
[27:38] Speaker 1: know I don't regret any of them. They were lessons.
[27:41] Speaker 6: So how much does it cost for the average buildof So.
[27:44] Speaker 1: It really depends on the scope of work. If you
[27:46] Speaker 1: find a dental office, your build out, of course isn't
[27:48] Speaker 1: going to cost as much as a building that's empty.
[27:50] Speaker 1: But again that's when we're going to negotiate more TI
[27:52] Speaker 1: because we've got to put in more work. But I
[27:54] Speaker 1: like to say the sweet spot to start, it's like eighty.
[27:57] Speaker 2: Two one hundred K.
[27:58] Speaker 1: And then once you find your location and then you
[28:00] Speaker 1: get your quote, you'll know if it's more or less.
[28:02] Speaker 1: And I always tell people they say, well, what if
[28:04] Speaker 1: I don't have enough money? I later determine I need
[28:06] Speaker 1: more money for the build out. But we have a
[28:08] Speaker 1: funding team in place, so our program we do everything
[28:10] Speaker 1: from credit with payer to funding to help you find
[28:13] Speaker 1: a location. We bring in realtors, we bring in a
[28:14] Speaker 1: trademark attorney's therapists, funny, so we have an amazing funded team.
[28:20] Speaker 1: We have a credit team and a funding team that
[28:21] Speaker 1: works together and we encourage people to use opum other
[28:24] Speaker 1: people's money, and so when they get into our mastermine,
[28:27] Speaker 1: we actually go and use our resources to help them
[28:29] Speaker 1: get the funny, which is very helpful because a lot
[28:31] Speaker 1: of people don't know. They just go to their bank
[28:33] Speaker 1: and they just think that's the only place they can
[28:34] Speaker 1: get funding. So that's a big help. But the thing is,
[28:38] Speaker 1: if you get the funding, you find a location and
[28:40] Speaker 1: then you later determine, okay, I need an extra sixty K. Well,
[28:43] Speaker 1: then we'll go and do a second round of funny
[28:45] Speaker 1: while we're waiting for those permits. Won't really got much
[28:47] Speaker 1: to do anyway. So while we're waiting for those permits,
[28:49] Speaker 1: we can put our first payment down, we can pay
[28:51] Speaker 1: the architect to design it.
[28:53] Speaker 2: Then we're going to get a second round of funny.
[28:55] Speaker 1: So we support them in every single way when they
[28:57] Speaker 1: tap in, and like I said, just throw it in
[28:59] Speaker 1: there and have a therapist come in. Because I always
[29:02] Speaker 1: tell my students, you know, I want you all to
[29:03] Speaker 1: become successful. I want you got to be salon suite owners.
[29:06] Speaker 1: But at the end of the day, the ultimate success
[29:08] Speaker 1: in life, in my opinion, it's piece of happiness.
[29:10] Speaker 2: So it's a lot of miserable business owners.
[29:12] Speaker 1: So I like to just have that balance with my
[29:14] Speaker 1: am I teachings with just making sure you have the
[29:16] Speaker 1: right mindset to maneuver through this peacefully and still have
[29:20] Speaker 1: your sanity. Yeah, because you're dealing with a lot of
[29:22] Speaker 1: people that are their own boss too, so you know
[29:24] Speaker 1: how that goes.
[29:25] Speaker 4: You told us the type of locations you're looking for, doctors' offices,
[29:28] Speaker 4: dental offices. What about from a geographical location, right, Like,
[29:33] Speaker 4: are there certain things that you know need to be
[29:36] Speaker 4: in place, whether it be like eateries or you know,
[29:42] Speaker 4: office buildings, right, people like to go to get things,
[29:44] Speaker 4: things done on their lunch break. Like, are those things
[29:48] Speaker 4: going into your decision making when you're talking about location.
[29:50] Speaker 1: Yeah, but not like necessarily a deal breaker for not.
[29:53] Speaker 1: Of course, we want to go where there's high traffic,
[29:55] Speaker 1: just like any business will want to go where it's
[29:57] Speaker 1: high traffic. The biggest thing is having ample parking, you know,
[30:00] Speaker 1: unless you're in a city like New York where it's
[30:02] Speaker 1: just parking is just a struggle anyway, But we do
[30:06] Speaker 1: make sure we have ample parking. But for the most part,
[30:08] Speaker 1: because salon suites, you know, like I said, they're already established,
[30:11] Speaker 1: they bring their own clientele. We don't necessarily have to
[30:13] Speaker 1: be on the main corner like a traditional salam of
[30:16] Speaker 1: barber shop where they're trying to get walk in. You know,
[30:17] Speaker 1: we're not really focused on walking, so we don't have to.
[30:20] Speaker 1: But it's always a bonus if you can be next
[30:22] Speaker 1: to a Starbucks or a shopping center or something like that.
[30:25] Speaker 1: So we do aim for that, but we have locations
[30:28] Speaker 1: that aren't necessarily in high demand areas. But for the
[30:30] Speaker 1: most part, though people always ask me, you know what,
[30:33] Speaker 1: what's a good location, It's all about doing your research. Really,
[30:37] Speaker 1: you know, the numbers are going to tell you if
[30:38] Speaker 1: it's a good location. So doing your research on your area,
[30:41] Speaker 1: because every market area is different. A suite in Atlanta
[30:43] Speaker 1: it's not going to cost the same as a suite
[30:44] Speaker 1: in New York. So understanding what the average suite goes
[30:48] Speaker 1: for in your area, and then when you have a location,
[30:51] Speaker 1: we have an equation where we can kind of run
[30:52] Speaker 1: the numbers and project the income before we even as
[30:54] Speaker 1: sign the lease. Okay, the average suite in New York
[30:56] Speaker 1: is two seventy five. We have three thousand square feet.
[30:59] Speaker 1: We get about sixteen suits in there. We run the
[31:02] Speaker 1: number on that at one hundred percent capacity, at eighty
[31:05] Speaker 1: percent capacity. And so that's the main thing is just
[31:08] Speaker 1: making sure the numbers make sense the way I coach,
[31:11] Speaker 1: I make sure it's somebody passes. Because there are some
[31:13] Speaker 1: salon suite owners that work it like it's a full
[31:15] Speaker 1: time job. It blows my mind. So I'm big on
[31:18] Speaker 1: just making sure that they don't have to be there
[31:20] Speaker 1: every day, so it doesn't have to be around the
[31:22] Speaker 1: quarter from your house. It could be thirty miles out
[31:25] Speaker 1: and you can still manage it pretty pretty good.
[31:27] Speaker 5: Man.
[31:27] Speaker 4: I'm thinking you're already got the one stop shop. They're
[31:30] Speaker 4: gonna get their heir. Yep, eyebrows, eyelashes, nails, all done
[31:33] Speaker 4: in the same place.
[31:34] Speaker 2: All done.
[31:34] Speaker 5: Only thing missing is food. Yeah, that's right next door.
[31:38] Speaker 2: No, literally it is. It is helpful now.
[31:40] Speaker 1: The thing with salons, you know, the salion industry, you
[31:42] Speaker 1: got a lot of food people who pull up on you,
[31:44] Speaker 1: so you know, they come.
[31:44] Speaker 2: Sell you detergent, socks, food, all kinds of stuff. So
[31:47] Speaker 2: that's that's helpful.
[31:48] Speaker 1: Even the beauty supply that nowadays they have, like the
[31:50] Speaker 1: mobile supplies. They walk in they're the bands. Yeah, you
[31:53] Speaker 1: walk in the band. It's like a full supply store.
[31:56] Speaker 1: But yeah, it is always nice to be next to
[31:58] Speaker 1: food for sure, got to eat.
[32:00] Speaker 6: So where do you think the mistakes?
[32:02] Speaker 3: A lot of beauty salon or beauty professionals make money,
[32:06] Speaker 3: but they don't really ever generate like real wealth. So
[32:08] Speaker 3: what's the mistakes that?
[32:09] Speaker 1: Yeah, man, I think it's like I said, those basic
[32:12] Speaker 1: business fundamentals. First of all, they don't even really have
[32:15] Speaker 1: a clear understanding and ask to how much they make,
[32:16] Speaker 1: And I'm like, how can you set a goal where
[32:19] Speaker 1: you don't even know where you're actually at? You know,
[32:21] Speaker 1: I think reporting is really important when it comes to
[32:23] Speaker 1: money because, like I said, you got those vendors that
[32:25] Speaker 1: come in you spending all kinds of money. You don't
[32:27] Speaker 1: know where the money is going in and out. A
[32:29] Speaker 1: lot of people are taking cash apt caszal. It should
[32:32] Speaker 1: be one form of payment so that you have clear reporting,
[32:34] Speaker 1: so that you really understand your numbers, so that you
[32:36] Speaker 1: can set a goal, you know what I mean. But
[32:38] Speaker 1: I think also customer service is the biggest thing right now.
[32:41] Speaker 1: These stylists are off the chain with their attitudes and
[32:44] Speaker 1: it's like they think we need them, when in reality,
[32:46] Speaker 1: they need the clients.
[32:47] Speaker 2: But that's big, Like their attitude is terrible.
[32:50] Speaker 1: It's some very talented people out there that just don't
[32:53] Speaker 1: understand the basic business fundamentals like be on time. Like
[32:56] Speaker 1: you think because you're the stylist, you can be forty
[32:58] Speaker 1: five minutes late.
[32:59] Speaker 2: But if the client is it's late, you want to
[33:01] Speaker 2: enforce a lafe feed.
[33:01] Speaker 1: But you can be forty five minutes late and you
[33:03] Speaker 1: don't even give them a discount or anything like that.
[33:05] Speaker 2: So I think that their.
[33:06] Speaker 1: Their attitude about it is wrong, and I think that's
[33:09] Speaker 1: why a lot of people aren't growing because they look
[33:11] Speaker 1: at it like, well, it's okay, I'll get a new client,
[33:14] Speaker 1: and my thing is to grow. You want to retain
[33:16] Speaker 1: those clients so that you can create that demand and
[33:18] Speaker 1: then where you're overly packed and booked out, that's when
[33:20] Speaker 1: you can increase your price. That's when you can scale,
[33:22] Speaker 1: you know what I'm saying. But they don't care about that.
[33:24] Speaker 1: When you leave, they just feel like, hey, as long
[33:26] Speaker 1: as somebody is in my chair. So that's really big
[33:29] Speaker 1: in too hearing beauty industry to customer services, it's rough
[33:31] Speaker 1: out there.
[33:32] Speaker 2: I ain't gonna lie.
[33:32] Speaker 4: Yeah, I've watched my wife have some bad experience. It's
[33:35] Speaker 4: I know exactly what you're talking about.
[33:36] Speaker 2: It's bad.
[33:37] Speaker 4: I've heard this common theme that I don't do that anymore,
[33:40] Speaker 4: or it's not me that does that anymore, and it's just,
[33:43] Speaker 4: you know, the idea of your business and business function
[33:46] Speaker 4: without you is when you have a real business, sure
[33:49] Speaker 4: because you have systems.
[33:50] Speaker 5: When did you get to that point, man?
[33:52] Speaker 2: I want to say maybe about four years ago.
[33:57] Speaker 1: Yeah, about four years ago when I realized, okay, I
[33:59] Speaker 1: can't and then I started scaling so our franchise we
[34:01] Speaker 1: had two corporate locations, three franchise locations, and then I
[34:04] Speaker 1: want to do other things. I get into real estate
[34:06] Speaker 1: and stuff like that. So I want to say about
[34:08] Speaker 1: four years ago. But it took me a little longer
[34:09] Speaker 1: than it should have. I definitely should have got out
[34:11] Speaker 1: of my own way and replaced myself a lot sooner.
[34:14] Speaker 1: But that's, like you said, very important in order to
[34:17] Speaker 1: continue to grow, and that's something I'm still working on
[34:19] Speaker 1: a little bit now. It's just you know, hay sway,
[34:21] Speaker 1: you shouldn't be doing it like delegate delegate delegates.
[34:24] Speaker 2: So yeah, yeah, very important.
[34:27] Speaker 3: So the franchise model, right, how much is it to
[34:32] Speaker 3: buy your franchise. And what's the advantage of buying a
[34:34] Speaker 3: franchise like buying somebody buying into your franchise as opposed
[34:37] Speaker 3: to just starting their own philosophy.
[34:38] Speaker 1: Yep, because you get that support. Right, So we're already
[34:41] Speaker 1: established brand, We're already trademarked. They get the rights to
[34:43] Speaker 1: use all of our marketing, our name, and everything like that.
[34:46] Speaker 2: Plus they get the support.
[34:47] Speaker 1: So we typically meet with our franchisees like every month
[34:51] Speaker 1: just to make sure that they have everything that they need.
[34:54] Speaker 1: They contribute to the marketing fund. So the advantage is
[34:56] Speaker 1: that it's already an established brand. You don't have to
[34:59] Speaker 1: really figure everything on your own. You have some guidance
[35:01] Speaker 1: as opposed to you going and doing it by yourself.
[35:04] Speaker 1: Of course, you can still tap in with me and
[35:05] Speaker 1: I'll teach you how to start your own brand, but
[35:07] Speaker 1: you're starting a new brand. So you know, some people
[35:10] Speaker 1: just don't want to reinvent the wheel. They just you know,
[35:13] Speaker 1: they say, hey, if it's already established brand, let me
[35:15] Speaker 1: just buy into your brand. So our franchise fee is
[35:17] Speaker 1: thirty five thousand, and then it's five percent of royalties
[35:21] Speaker 1: off of your gross income.
[35:23] Speaker 2: So that's pretty much how it goes.
[35:25] Speaker 4: Are people that are leading from you. Obviously they can
[35:29] Speaker 4: look to you as the example of what success can
[35:32] Speaker 4: look like. Do you is there an education process as
[35:36] Speaker 4: they come into the suites and starting to see the
[35:38] Speaker 4: evolution of what you're doing, and are they trying to
[35:41] Speaker 4: model what you're doing or most people just focused on hey,
[35:44] Speaker 4: this is my client, let me just focus here and
[35:46] Speaker 4: missing the business of what you're actually building.
[35:48] Speaker 1: Yeah, I think something some people get in some people
[35:50] Speaker 1: do miss it because there are some people like Sweat.
[35:52] Speaker 2: I mean, I've had actually students.
[35:53] Speaker 1: One of my students was she actually leased the suite
[35:56] Speaker 1: and she was super, super shy. She's one of the
[35:58] Speaker 1: people that we got two hundre that in TI. So
[36:01] Speaker 1: some people see it, they see the bigger picture picture.
[36:03] Speaker 2: They like sway.
[36:03] Speaker 1: Eventually, I want to get from behind the chair because
[36:05] Speaker 1: I always say this industry is amazing, but you can
[36:07] Speaker 1: get stuck in this industry.
[36:08] Speaker 2: When people say I've been coming from forty years, I'm.
[36:10] Speaker 1: Like, that's not a flex you know, you need to
[36:12] Speaker 1: figure something out, you know what I'm saying, Because you
[36:13] Speaker 1: can't only it's so much wear and tear on your body.
[36:15] Speaker 2: So some students get in, and there's some students that.
[36:18] Speaker 1: Or should I say tenants tendants that don't get it,
[36:21] Speaker 1: and I mean it just is what it is. But
[36:23] Speaker 1: to the ones that get it anytime they ask me,
[36:25] Speaker 1: I'm not one of those people where I'm gonna take
[36:26] Speaker 1: a person. If you go start your own brand, I'm
[36:28] Speaker 1: gonna actually help you, especially if you're a good tenant.
[36:31] Speaker 4: So because it feels like some people will see it
[36:34] Speaker 4: as a path to I guess quote unquote freedom to
[36:37] Speaker 4: our entrepreneurs, Yes.
[36:38] Speaker 5: But it could be a path to financial freedom if
[36:40] Speaker 5: structured the right way.
[36:41] Speaker 2: Structured the right way.
[36:42] Speaker 4: I like that you said that having one form of
[36:44] Speaker 4: paying system right zelle, then having all that get and
[36:48] Speaker 4: then the other part is we're getting the money, but
[36:51] Speaker 4: are we understanding.
[36:52] Speaker 5: Of taxes exactly over all the things?
[36:56] Speaker 1: Right?
[36:56] Speaker 4: Like, are you seeing that as we started into that,
[37:00] Speaker 4: are you seeing that more of the tenants are becoming
[37:03] Speaker 4: more financially literate about that?
[37:05] Speaker 5: Or like from your from your perspective.
[37:08] Speaker 2: A little bit, I would like to see more.
[37:10] Speaker 1: I still think it's too many people that's tapped out
[37:12] Speaker 1: of that and don't understand the importance of that. But
[37:14] Speaker 1: I do think more people are trying to take a
[37:15] Speaker 1: little bit serif serious because they understand that's the only
[37:17] Speaker 1: way to get from behind the chair to a front
[37:20] Speaker 1: of the chair, is what I like to call it.
[37:22] Speaker 1: So yeah, it's a slight increase, but it would it
[37:24] Speaker 1: would be nice if more people really just understood the
[37:26] Speaker 1: importance to that.
[37:27] Speaker 3: So from a real estate standpoint, if you're if you're renting, right,
[37:30] Speaker 3: how long do you think it'll take before you get
[37:32] Speaker 3: your money back because you got to pay for the upfront,
[37:35] Speaker 3: that's build out, all of that stuff.
[37:37] Speaker 1: So yeah, and like I said, it depends on so
[37:39] Speaker 1: many different factors. You know, if you get TI and
[37:40] Speaker 1: then you kind of getting your money right back. But
[37:42] Speaker 1: I like to say you see a return of your
[37:44] Speaker 1: investment a little quicker in this industry, I will say
[37:46] Speaker 1: on average, you know, a year to two years yep,
[37:49] Speaker 1: just again depending on how much you actually put it
[37:51] Speaker 1: into the build out. So like with me, I was
[37:53] Speaker 1: able to see my return within that first year, but
[37:55] Speaker 1: I had twelve months free rent. I didn't get any
[37:58] Speaker 1: TI that first location. And that's another thing. They don't
[38:00] Speaker 1: give you TI because sometimes you can run into that
[38:02] Speaker 1: LANDA was like, look, I don't give out money, so
[38:04] Speaker 1: that's when you wanted negotiate more free rent. So in
[38:06] Speaker 1: that case, I said, okay, well you can't give me
[38:08] Speaker 1: TI towards the buildout, will give me a year.
[38:09] Speaker 2: Of free rent.
[38:10] Speaker 1: And he actually did that and that was actually pretty
[38:11] Speaker 1: dope because our build out took I think maybe like
[38:14] Speaker 1: four months, so the rest of the year we were
[38:16] Speaker 1: able to not have to pay any rent.
[38:18] Speaker 4: Is the focus now on more franchises or creating more
[38:23] Speaker 4: locations for yourself?
[38:25] Speaker 5: Yeah?
[38:25] Speaker 1: So I actually sold the Encore brand about three years ago,
[38:28] Speaker 1: and I still work with them and help them franchise,
[38:30] Speaker 1: which I love that because it was kind of a
[38:32] Speaker 1: conflict of interest with me pushing the franchise and then
[38:34] Speaker 1: trying to promote my students because my franchisees were like, well,
[38:37] Speaker 1: why are you pushing their brand? So I love that
[38:39] Speaker 1: because this is really and it was always my plan.
[38:41] Speaker 1: So I always had an exit plan to exit or
[38:43] Speaker 1: you started correct, now it was ten locations, even though
[38:46] Speaker 1: we only made it to five, But that was always
[38:49] Speaker 1: my plan, was to pivot. So now I get to
[38:51] Speaker 1: just focus more on my students and my mentees.
[38:54] Speaker 2: So for me, I'm not opening any more locations.
[38:57] Speaker 1: I don't think so, I don't see myself doing that,
[38:59] Speaker 1: especially with me is diversifying my portfolio now now I'm
[39:02] Speaker 1: really into real estate on the restaurant in Midtown Call
[39:04] Speaker 1: and Cheese, So not for me, but still here to
[39:07] Speaker 1: always help my students.
[39:08] Speaker 6: Grow and ex man, So what made youself?
[39:11] Speaker 1: Like I said, it was always my plan, and I
[39:14] Speaker 1: just kind of reached up a point I want to say,
[39:16] Speaker 1: like the Pinnacle, but I started to just feel very
[39:19] Speaker 1: overwhelmed and I was like, Okay, I'm kind of just
[39:21] Speaker 1: ready to get into something else because I'm one of
[39:23] Speaker 1: the people who actually worked in this industry.
[39:25] Speaker 2: So I didn't just start with salon sweets.
[39:26] Speaker 1: I worked in the industry, and I just felt like
[39:28] Speaker 1: it was perfect timing to kind of get out when
[39:31] Speaker 1: things were going good, you know.
[39:33] Speaker 2: And so it worked out perfectly though.
[39:35] Speaker 4: So we got athletics, entertainment yep, hair and beauty yes,
[39:41] Speaker 4: and now we've got hospitality yes, and real well yeah,
[39:48] Speaker 4: hospital You want to talk about a business that's stressful.
[39:51] Speaker 2: Now see, I'm still new to it.
[39:53] Speaker 1: You know. We I got in I want to say,
[39:54] Speaker 1: maybe like three months ago, so it was an established
[39:57] Speaker 1: brand already, so they did pretty good they're just looking
[40:00] Speaker 1: for They just needed that growth partner, somebody who understood
[40:03] Speaker 1: how to really scale, how to franchise, how to have
[40:05] Speaker 1: systems in place, and stuff like that. So I'm still
[40:08] Speaker 1: getting my feet wet. It's a small establishment, so nothing
[40:11] Speaker 1: too crazy. So yeah, I'm still learning. We got to
[40:14] Speaker 1: cut I know that this listen. I'm in Atlanta, so
[40:16] Speaker 1: I see them flip restaurants every year. They changed the
[40:19] Speaker 1: name and they're closing. So I understand it's a challenging industry.
[40:22] Speaker 1: But I think my partner is pretty knowledgeable. And like
[40:25] Speaker 1: I said, we're starting out small, so I'm still learning.
[40:27] Speaker 4: What did diversification look like? You said, it's real estate,
[40:30] Speaker 4: but what type of real estate? Like, how did you
[40:34] Speaker 4: come to that point where Okay, yes I sold.
[40:37] Speaker 5: Obviously you've done it in a sort.
[40:39] Speaker 4: Of a way, right, like you're the landlord, correct, And
[40:41] Speaker 4: so what has fueled the passion now?
[40:43] Speaker 1: Yeah, So again just understanding that I needed to diversify.
[40:47] Speaker 1: So there was a few years ago I lost a
[40:50] Speaker 1: lot of money and I felt like if I would
[40:52] Speaker 1: have diversified, maybe it wouldn't have been such a hard hit.
[40:55] Speaker 1: And so now I'm just trying to find other investments,
[40:58] Speaker 1: silent investments, you know, safe hedge funds and stuff like that.
[41:03] Speaker 1: And with real estate, my sister is a realtor, and
[41:06] Speaker 1: so when I was actually going to look for my
[41:07] Speaker 1: own personal home, she would always say.
[41:09] Speaker 2: You know, why don't you build? Why don't you build?
[41:11] Speaker 1: And at first I was just like, no, I don't
[41:12] Speaker 1: feel like going through all of that, and so she
[41:14] Speaker 1: always wanted to be a developer, and so we got
[41:16] Speaker 1: into it together, hired a mentor, and we're still going
[41:20] Speaker 1: through that process. We've built two so far, we have
[41:22] Speaker 1: two that are still being built. So I actually really
[41:25] Speaker 1: really liked that. So I'm gonna start putting a lot
[41:26] Speaker 1: of focus into that. But our whole business model is,
[41:30] Speaker 1: for the most part, is we're going to build them
[41:32] Speaker 1: up and then we were able to sell them before
[41:35] Speaker 1: we really before we even finished they going to contract.
[41:37] Speaker 5: You didn't even know you're talking to two developers right now.
[41:39] Speaker 2: No, I didn't know that. I didn't know. I see,
[41:43] Speaker 2: I'm seeing what y'all doing.
[41:45] Speaker 3: So going back to SILOSTI for a minute, if from
[41:49] Speaker 3: a worker standpoint, if somebody does nails or they cut
[41:53] Speaker 3: hair or eyebrows, whatever, what would you say to them
[41:57] Speaker 3: if they're deciding whether they should do it in a
[42:01] Speaker 3: traditional suite a salon, if they should do a salon suite,
[42:06] Speaker 3: or if they should just work out of their house
[42:10] Speaker 3: or if they're living room.
[42:11] Speaker 1: Yeah, I've never encourage people to work out of their
[42:13] Speaker 1: house because I think it's just it's unprofessional. You know,
[42:15] Speaker 1: if you want that high level clientele that's going to
[42:17] Speaker 1: come and pay you a high price and tip you, you
[42:19] Speaker 1: don't really want them come into your house. But I think,
[42:22] Speaker 1: like I mentioned earlier, if you don't have clientele, go
[42:25] Speaker 1: into a traditional salam of barbershop. You can also learn
[42:27] Speaker 1: from your peers. You can build your clientele up. Once
[42:29] Speaker 1: you're established, you have consistent clientele, your books are pretty
[42:33] Speaker 1: much seventy five percent full, then I will consider a
[42:36] Speaker 1: salon suite. So I want to be very clear with
[42:38] Speaker 1: that because a lot of people just jump into it
[42:39] Speaker 1: because it's the popular thing, and then they're like, oh, shoot,
[42:42] Speaker 1: I can't keep up with this rent and I don't really.
[42:43] Speaker 2: Have too much help.
[42:45] Speaker 1: Now, I will say, though I do, even though I'm
[42:47] Speaker 1: not obligated to give them help, I still try to
[42:50] Speaker 1: bring in wealth advisors marketing agencies to come and speak
[42:53] Speaker 1: to the tenants and they appreciate that, just to show
[42:56] Speaker 1: that I do care about their business.
[42:57] Speaker 2: I do want them to be successful.
[42:59] Speaker 1: But for the most part, like I said, it's going
[43:00] Speaker 1: to be just if you're established, if you know how
[43:02] Speaker 1: to really be on your own and run your business,
[43:04] Speaker 1: then you can go into someone.
[43:05] Speaker 6: What's the most profitable one?
[43:07] Speaker 3: Like obviously haircuts it probably the lowest on Atlanta. They
[43:10] Speaker 3: charge a lot of money, but man what because then
[43:14] Speaker 3: it also the women hit braiders.
[43:16] Speaker 6: They make money, but it takes a long time.
[43:18] Speaker 3: It does so from a time standpoint, out of nails, eyebrows, barber, braiders,
[43:25] Speaker 3: traditional women's hair, which one is the most profitable.
[43:28] Speaker 2: I would say a cosmetologist, a hairstylist.
[43:31] Speaker 6: I think a woman's a woman's hairstyle.
[43:33] Speaker 1: And I mean in Atlanta, it's a lot of males
[43:35] Speaker 1: that do women here too, so and they killing it.
[43:38] Speaker 1: But I would say I think hair stylists because yes,
[43:40] Speaker 1: it does take longer, but they're charging sometimes five, six,
[43:43] Speaker 1: seven hundred dollars depending on how how good they are,
[43:46] Speaker 1: and typically the style lasts a long time, So I
[43:48] Speaker 1: would think a stylist.
[43:49] Speaker 2: But barbers can make pretty good money. I made pretty
[43:51] Speaker 2: good money.
[43:52] Speaker 1: When I was behind the chair, I was one of
[43:54] Speaker 1: those that you know, I consider myself a groomer.
[43:56] Speaker 2: I think there's a difference.
[43:57] Speaker 1: And I had high pricing, but I gave them a
[43:59] Speaker 1: true VIP service because I think you have to justify
[44:02] Speaker 1: the price. And Atlanta a lot of people just jacking
[44:04] Speaker 1: up these prices just because everybody else is doing it.
[44:06] Speaker 1: And it's like, you can't have a high price and
[44:08] Speaker 1: think somebody's going to come and pay and you're not
[44:10] Speaker 1: even on time, or you're you're not even cleaning your
[44:13] Speaker 1: your equipment and stuff like that.
[44:14] Speaker 2: So you got to justify the price.
[44:17] Speaker 5: Shampoo service, hot towel, oh goodness, exactly.
[44:20] Speaker 3: Get the hair right because it's even different the wigs,
[44:23] Speaker 3: correct extensions for the audience. Explain the price points for
[44:28] Speaker 3: like the different tiers of women's hair.
[44:31] Speaker 1: Yeah, So, to be honest with you, I don't I
[44:33] Speaker 1: don't know that I know the up to date price,
[44:35] Speaker 1: you know, to be honest.
[44:36] Speaker 2: With you, but yeah, you tell me for it.
[44:38] Speaker 5: It's still.
[44:40] Speaker 2: One hundred for sure.
[44:41] Speaker 4: Easily we changed hair styles. So I have a wife
[44:44] Speaker 4: and her daughter. Okay, uh, she had a hairstyle last
[44:48] Speaker 4: year and she was the person charged her two hundred.
[44:51] Speaker 4: She wanted to redo it this year, and they charging
[44:53] Speaker 4: the six hundred style.
[44:55] Speaker 2: She went up four hundred.
[44:57] Speaker 5: I'm just trying to sing out, like what's going on?
[44:58] Speaker 4: So, like I mean, becomes tricky, right, braids Obviously a
[45:02] Speaker 4: lot of times Black women summertime, if they're going away vacations, beaches, pools,
[45:09] Speaker 4: usually they're going with braids.
[45:10] Speaker 5: So that's I mean.
[45:11] Speaker 4: As a dad, I'm like, damn, I got the kids
[45:13] Speaker 4: for the next twelve hours, you.
[45:15] Speaker 5: Know what I mean.
[45:15] Speaker 4: So that cause you know, whether it's so wins lace front,
[45:20] Speaker 4: there's just so much that goes into it, which is
[45:22] Speaker 4: why I think that that would probably be be the
[45:25] Speaker 4: profession or that's don't have them.
[45:27] Speaker 6: Like just when he said Atlanta Tay is the best.
[45:31] Speaker 3: He's so that guy does wigs right, Yes, he specialized
[45:35] Speaker 3: in with I think he lives in New York now,
[45:37] Speaker 3: So that's a whole specialty within itself.
[45:40] Speaker 6: Like just wigs.
[45:41] Speaker 1: Correct, It's all about how you lay it in and
[45:44] Speaker 1: make it not look like a wig.
[45:45] Speaker 2: That's the key.
[45:45] Speaker 4: You know, some people you got if they don't get
[45:47] Speaker 4: that making okay, if they don't.
[45:48] Speaker 2: Get the make up, because like hold on now.
[45:50] Speaker 5: They look like wig that middle part.
[45:52] Speaker 2: Oh yeah, it.
[45:53] Speaker 1: Has to transition real nice. And so that that's the
[45:55] Speaker 1: difference right there. If you know how to put that
[45:56] Speaker 1: lace on on, it doesn't it looks like your natural hair,
[45:59] Speaker 1: that blend, that blend, you know what I mean, then
[46:00] Speaker 1: you can charge those pricing. But a lot of people
[46:02] Speaker 1: aren't aren't so good at that.
[46:03] Speaker 4: So this is a I mean, I'm seeing a lot
[46:07] Speaker 4: of people going to the space, whether it's nail tax.
[46:10] Speaker 4: We just we just came from a school where a
[46:12] Speaker 4: young girl created an owned neil tech.
[46:13] Speaker 5: Business fifteen years old. Oh nice, which is incredible.
[46:17] Speaker 4: But it speaks to me of competitive business competition. How
[46:23] Speaker 4: or what are you seeing that separates people to grab
[46:28] Speaker 4: more attention because there's a lot of people it's a
[46:30] Speaker 4: mastheticians like hair nail tag.
[46:34] Speaker 1: That's why I'm so excited to be at investments because
[46:36] Speaker 1: I'm like, you know, this is a really big industry.
[46:38] Speaker 1: Got I mean millions of people that's in this industry.
[46:42] Speaker 2: But I think that.
[46:45] Speaker 1: I would say, I always say, if you can just
[46:48] Speaker 1: simply be on time, I think that's sets you apart
[46:50] Speaker 1: right there. Really, I'm just being honest. In Atlanta, just
[46:52] Speaker 1: as a barber. As a barber too, you don't even
[46:54] Speaker 1: have to be the greatest. If you have good customer service,
[46:57] Speaker 1: that sets you apart right there.
[46:58] Speaker 2: I mean they don't. That's terrible.
[47:00] Speaker 3: On time to come into work or on time as
[47:02] Speaker 3: far as you running over with your appointments, on.
[47:04] Speaker 2: Time for your appointment.
[47:05] Speaker 1: So if you have an eight o'clock at eight am appointment,
[47:07] Speaker 1: be there at seven fifty and be ready to.
[47:09] Speaker 6: Start, you know what I'm saying. Like, because that's another
[47:11] Speaker 6: thing too.
[47:11] Speaker 3: Though Barbara could set a time at one o'clock, he's
[47:14] Speaker 3: already there, but his client comes fifteen late, even it's late,
[47:19] Speaker 3: and then now and then he's so now that one
[47:21] Speaker 3: o'clock turned to a one forty five.
[47:22] Speaker 2: Right now, everybody else after that this late exactly.
[47:25] Speaker 1: So that's why I would say, I think it was
[47:26] Speaker 1: like a ten minutes, and then after that I just
[47:29] Speaker 1: can't do you because of that, everybody else now has
[47:31] Speaker 1: to be late because you were late.
[47:32] Speaker 6: And do you have the pre best practices? You prepay?
[47:36] Speaker 2: Yes, I try an app on the app?
[47:38] Speaker 6: What's the app? The cut? That's the cut.
[47:40] Speaker 1: I was using Southsea at the time. So they took
[47:42] Speaker 1: a deposit at first and then Squire is you know Squire, Yeah,
[47:45] Speaker 1: I'm familiar with Squire.
[47:47] Speaker 2: Yeah.
[47:47] Speaker 1: I would take the deposit at first and then the
[47:48] Speaker 1: balance would be charged. But if it was a no show,
[47:50] Speaker 1: I charged the full price.
[47:53] Speaker 3: But when you just stag good on their credit card
[47:54] Speaker 3: on their credit card and you only do you only
[47:57] Speaker 3: take appointments through the app, yes, somebody can't and just
[48:00] Speaker 3: text you on them.
[48:00] Speaker 1: Absolutely not absolutely Now I started out like that, but
[48:03] Speaker 1: again it's not it's not professional.
[48:06] Speaker 2: It's more professional.
[48:06] Speaker 1: Should I say, to actually use an app because the
[48:08] Speaker 1: app is going to help you with the reporting? The
[48:10] Speaker 1: apps most apps nowadays they said reminders. You know, I
[48:13] Speaker 1: think a follow up is so important to really retain
[48:15] Speaker 1: clients too. It's like after they leave, you should be
[48:17] Speaker 1: already trying to book their next appointment. And then with
[48:19] Speaker 1: these apps, you can set up a reminder and say, hey,
[48:21] Speaker 1: hey Troy, you haven't been in the barbershop in a
[48:23] Speaker 1: few weeks. You want to book an appointment. So it's
[48:24] Speaker 1: a lot of benefits to using the app. And then,
[48:27] Speaker 1: like I said, you got the pay that's going through
[48:28] Speaker 1: one avenue so you can see your clear reporting. But
[48:31] Speaker 1: I definitely recommend apps. I used to do texts and I.
[48:35] Speaker 2: Can't believe I was doing that, but you know, be
[48:37] Speaker 2: live and learn.
[48:38] Speaker 3: So what if you got a good client and they like,
[48:40] Speaker 3: I'm not, do you have a make exceptions?
[48:43] Speaker 2: Not really?
[48:44] Speaker 1: Well, te Pain, I did, just because he kind of
[48:46] Speaker 1: called me randomly and it was just if I was available.
[48:49] Speaker 1: I still set that tone that like, I'm not just
[48:51] Speaker 1: up jumping for you. You still have to respect my
[48:53] Speaker 1: time because there was a point of time where I
[48:54] Speaker 1: would go to him and he would have me waiting
[48:56] Speaker 1: like forty five minutes to an hour.
[48:57] Speaker 6: Yeah, what about that, that's big tool.
[48:59] Speaker 2: Yeah.
[48:59] Speaker 1: The first two times I was like, okay, hold on, like,
[49:01] Speaker 1: I'm not I could have been doing something else with
[49:03] Speaker 1: my time. And what I love about him, what I
[49:05] Speaker 1: respect about him is once I communicated that to him
[49:07] Speaker 1: and said, looks the pain when I come in, we
[49:08] Speaker 1: already only doing the size anyway, he had dreads, so
[49:12] Speaker 1: I'm like, when I come in, I need this just
[49:13] Speaker 1: to get straight to what I have other things going on.
[49:15] Speaker 2: And he respected that. So going forward, mind you, his stylist,
[49:18] Speaker 2: she was like, this is what he does.
[49:19] Speaker 1: I've been with him for years. He's always late. I said,
[49:21] Speaker 1: oh well, I can't do this, you know what I'm saying.
[49:23] Speaker 1: So he respected that and he was on time. But
[49:25] Speaker 1: when it comes to celebrity clientele, I think that's the
[49:28] Speaker 1: thing is set in the tone, letting them know that
[49:30] Speaker 1: your time is just as valuable. You know, I'm not
[49:31] Speaker 1: about to come sit on set for six hours and
[49:34] Speaker 1: you still paying me for this one service where I
[49:36] Speaker 1: could have.
[49:36] Speaker 2: Been with my consistent, loyal clients.
[49:39] Speaker 1: But people would jump for celebrities and abandon their clients,
[49:42] Speaker 1: and I don't think that that's a good decision at all.
[49:43] Speaker 2: So you gotta be real mind celebrity. I think sometimes
[49:47] Speaker 2: I think it can be.
[49:48] Speaker 1: You know, it looks cool. I guess it's cool to
[49:50] Speaker 1: say I cut tee pains here. Am I going to
[49:52] Speaker 1: get a ton of clients from it?
[49:54] Speaker 2: I don't think so. It more so just looks cool.
[49:56] Speaker 2: But I think it just has to make sense.
[49:57] Speaker 1: And I think you should prioritize you're a consistent clientele
[50:01] Speaker 1: one hundred pcent because they're the ones that's coming to
[50:02] Speaker 1: you every single week and just paying consistently, So it's
[50:05] Speaker 1: pros and cons to it.
[50:07] Speaker 4: I heard a discipline, yeah, go, I hear a structure.
[50:11] Speaker 4: I hit a system. We have this conversation all the
[50:15] Speaker 4: time as entrepreneur as men balance, Uh huh, what does
[50:21] Speaker 4: that even mean for you in this space?
[50:23] Speaker 2: Man? Just living life?
[50:25] Speaker 1: You know, sometimes we get caught up and just working
[50:27] Speaker 1: so much, and it's like, you know, you want to
[50:28] Speaker 1: actually enjoy the fruits of your labor. So I think
[50:30] Speaker 1: that that's important to have balance. So with me, I
[50:33] Speaker 1: had to learn that I needed more help and I'm
[50:35] Speaker 1: still learning that right now. Me and twin are actually
[50:36] Speaker 1: trying to hire somebody else right now because we just
[50:38] Speaker 1: continue to keep growing. But I think it's so important
[50:41] Speaker 1: to live life, you know what I mean, whatever that
[50:43] Speaker 1: looks like for you, if that's going on vacation, if
[50:45] Speaker 1: that's spending time with your family, if that's just you
[50:47] Speaker 1: sitting at home watching TV.
[50:48] Speaker 2: Finding that balance.
[50:49] Speaker 1: So I try to really work off of a schedule
[50:52] Speaker 1: that's really helpful for me, Like this is what time
[50:54] Speaker 1: I'm going to work at this time I'm going to
[50:56] Speaker 1: turn my brain off and relax. So I think just
[50:58] Speaker 1: you know, like I said, having a scale really helps
[51:00] Speaker 1: with that with that balance for sure, because you can
[51:02] Speaker 1: get caught up working too much.
[51:03] Speaker 3: So how'd you get into teaching about this? And explain
[51:07] Speaker 3: that side of what you're doing now as far as
[51:10] Speaker 3: like educating people.
[51:11] Speaker 2: Absolutely, so a couple of people would ask me to
[51:13] Speaker 2: help them.
[51:13] Speaker 1: So I did a little consulting before I actually had
[51:15] Speaker 1: my program, and I said, okay, that was kind of
[51:17] Speaker 1: the era of everybody was kind of dropping courses.
[51:19] Speaker 2: So I said, well, hell, let me go ahead and
[51:21] Speaker 2: drop my course as well.
[51:22] Speaker 1: And that was a whole process in itself, but we
[51:25] Speaker 1: were able to do that. We started off pretty slow,
[51:28] Speaker 1: once I understood like ads paying for ads and stuff.
[51:30] Speaker 1: We were able to scale pretty quickly with that, and
[51:33] Speaker 1: I really enjoyed that. I really enjoyed that because from
[51:35] Speaker 1: when we get real results. So I'm not one of
[51:37] Speaker 1: the courses that's just talking and you don't see real results.
[51:40] Speaker 1: I mean, my testimonials are crazy, I can't even post
[51:43] Speaker 1: them all online.
[51:44] Speaker 2: But we get real results. I'm really big on my reputation.
[51:47] Speaker 1: I'm really big on over delivering and making sure you
[51:49] Speaker 1: get what you pay for and some so with our mentorship,
[51:52] Speaker 1: you know, we have our course where it's more do
[51:53] Speaker 1: it yourself, So if you want to just get the information,
[51:55] Speaker 1: do it yourself. But then we have a higher tier,
[51:57] Speaker 1: which is the Ender Circle where like I said, we
[51:59] Speaker 1: do everything thing for you, so from credit repair to
[52:02] Speaker 1: funding to having a realtor come online helping you pick
[52:06] Speaker 1: a location. Like I said, Trademark Attorney. We have a
[52:11] Speaker 1: wealth of buyers that come in so just a full
[52:13] Speaker 1: package and it's a year program and like I said,
[52:16] Speaker 1: we can pretty much help anybody in any situation. So
[52:19] Speaker 1: I really really enjoy it. We have I've trained over
[52:21] Speaker 1: one hundred thousand people and we do free weekly trainings
[52:24] Speaker 1: every single week for people that want to get into
[52:26] Speaker 1: the industry.
[52:27] Speaker 2: But it's going great so far. I really really enjoy it.
[52:29] Speaker 5: What's that feeling like?
[52:30] Speaker 4: We've been on the other side of that where you
[52:32] Speaker 4: get people information, they execute on information. It changes their life, yes, right,
[52:37] Speaker 4: which changes their communities life, change their family life.
[52:39] Speaker 5: What's that like for you?
[52:40] Speaker 1: Man? It's really it's really amazing because I remember what
[52:43] Speaker 1: I went through and so it's kind of dope to
[52:46] Speaker 1: be able to be the other people what I wish
[52:47] Speaker 1: I had when I was growing up, because man, if
[52:49] Speaker 1: I could have just had one person to call to
[52:51] Speaker 1: ask a question, I would have paid anything. That's that's
[52:53] Speaker 1: how bad it was for me. So when I see
[52:55] Speaker 1: my students actually cut that red ribbon. It really genuinely
[52:58] Speaker 1: makes me proud, you know, because we're all out here
[52:59] Speaker 1: trying to just create more sources and inclement and reset
[53:02] Speaker 1: financial freedom. So I love it. I love the students
[53:07] Speaker 1: that actually come in and want it. You know, there's
[53:08] Speaker 1: a lot of people who tap in who just don't
[53:10] Speaker 1: have the work ethic, they don't understand what it takes.
[53:13] Speaker 1: But I love when I get those people that come in.
[53:14] Speaker 1: They're serious, they're coachable, they listen, and they execute. So
[53:19] Speaker 1: I love it.
[53:20] Speaker 2: I really really do.
[53:21] Speaker 6: So talk about invest has What do you have planning
[53:23] Speaker 6: for invests?
[53:24] Speaker 2: Yeah, invest fast. I'm bringing some heavy haaters.
[53:26] Speaker 1: Like I said, I'm really excited that we get to
[53:27] Speaker 1: bring this industry, you know, into investments because it's a
[53:31] Speaker 1: lot of people that attend that you know, we didn't
[53:33] Speaker 1: necessarily from what I recall, I have anything specifically targeting
[53:37] Speaker 1: this industry.
[53:37] Speaker 2: So I'm bringing in bb Judy.
[53:39] Speaker 1: You know, she owns Kaleidoscope, which is a very big
[53:41] Speaker 1: hair product, Sierra Glam Shop.
[53:43] Speaker 2: She also was an.
[53:44] Speaker 1: Esthetician turned salon owner and now she does a bunch
[53:47] Speaker 1: of other things as well. And then Portia Williams also
[53:50] Speaker 1: owns a hair brand, Go Naked. She's grossed over tillion
[53:53] Speaker 1: with her hair brand. So just trying to show people
[53:55] Speaker 1: how to pivot, you know, how to get from A
[53:57] Speaker 1: lot of us started actually in the same position that
[53:59] Speaker 1: most of them are in right now, behind the chair.
[54:01] Speaker 1: But how do you pivot because again, you can get
[54:03] Speaker 1: stuck in there. You know, there's this eighty year old
[54:05] Speaker 1: barber in Atlanta that still cuts here and I'm like, God, dang,
[54:08] Speaker 1: I can't imagine, you know, having to be eighty and
[54:10] Speaker 1: still having a cut.
[54:11] Speaker 2: And maybe he does it because he just loves it.
[54:12] Speaker 2: I hope that that's the case.
[54:14] Speaker 1: But I just think it's so important that you have
[54:15] Speaker 1: a plan on how to get from behind that chair because,
[54:17] Speaker 1: like I said, it's a lot of wear and tear.
[54:19] Speaker 1: I mean, people don't even understand the importance of a mat.
[54:21] Speaker 1: They think a matter is just for looks, and it's like, no,
[54:23] Speaker 1: that's the help with your back.
[54:25] Speaker 2: You know, your.
[54:25] Speaker 1: Posture needs to be good because people get all kind
[54:27] Speaker 1: of cramps in their hands and wrights, all kinds of
[54:30] Speaker 1: stuff you can get. So I'm excited to bring people
[54:33] Speaker 1: to invest fast that started where a lot of the
[54:35] Speaker 1: beauty pros are now and are going to teach them
[54:37] Speaker 1: and just show them and show them that it's possible
[54:39] Speaker 1: to create another source of income, whether it's in this
[54:42] Speaker 1: industry or not, whether it's a hair brand, a product,
[54:46] Speaker 1: a salon, a salon suite, but you got to have
[54:48] Speaker 1: some type of plan for that next level.
[54:50] Speaker 4: I'm super excited big business, Yes, big business. I'm happy
[54:53] Speaker 4: that that you're going to be there. I'm atually bringing
[54:55] Speaker 4: that and the community's going to be there excited for it.
[54:58] Speaker 5: I'll be there in the front row washing.
[55:00] Speaker 2: Yeah, I'm excited.
[55:00] Speaker 1: And then I got the workshop as well, so that'll
[55:02] Speaker 1: be more focused on salon suites.
[55:03] Speaker 2: But the panel is just overall here and beauty.
[55:06] Speaker 5: Yeah, I've been trying to get some.
[55:08] Speaker 4: The same woman that does my son's here his braids,
[55:11] Speaker 4: does my daughter's here, okay, And my wife always talks
[55:14] Speaker 4: about how when they get their head done there, she
[55:18] Speaker 4: must be using a product.
[55:19] Speaker 5: And I'm like, yo, you got to create a product
[55:21] Speaker 5: that scales. I need you. The same thing that you're
[55:23] Speaker 5: saying is what I'm saying.
[55:24] Speaker 4: You got to figure out the plan to not be
[55:26] Speaker 4: behind that chat and that product might be the thing.
[55:29] Speaker 2: Yeah, it might be the thing.
[55:30] Speaker 1: Yep, you just got to do it the right way
[55:31] Speaker 1: and do your research and just be willing to put
[55:33] Speaker 1: into work.
[55:33] Speaker 2: You know. They see all this stuff, they think it's
[55:34] Speaker 2: overnight success.
[55:36] Speaker 1: They don't understand it takes a lot to really set
[55:38] Speaker 1: it up so that you can actually retire. So that's
[55:40] Speaker 1: the thing too, is understanding. Look, it's going to require
[55:42] Speaker 1: some work. It may be some long days. You may
[55:44] Speaker 1: have to come home from doing six heads and then
[55:46] Speaker 1: have to tap into something.
[55:47] Speaker 2: But it's just what it takes.
[55:49] Speaker 1: You got to you know, like et says, always say,
[55:51] Speaker 1: you got to want to succeed as bad as you
[55:52] Speaker 1: want to breathe.
[55:53] Speaker 2: And I tell people, when you.
[55:54] Speaker 1: Put in that work, you know, it pays off you
[55:56] Speaker 1: put in the work either way you put it in.
[55:58] Speaker 1: You know, for people that work a nine to five,
[55:59] Speaker 1: You putting in to work for somebody that did believe.
[56:01] Speaker 1: So you might as well put in that same work
[56:04] Speaker 1: over here and eventually at a payoff and you will
[56:06] Speaker 1: have more control and just more financial stability, which.
[56:09] Speaker 2: Is what we're all.
[56:10] Speaker 5: She will be at an invest best.
[56:11] Speaker 1: Okay, cool bees, maya talking to you, Yes, maya come
[56:15] Speaker 1: check it out.
[56:15] Speaker 5: We're gonna make sure that you're right there listening to this.
[56:17] Speaker 1: Yeah, because it's a lot of opporunities where you can
[56:19] Speaker 1: even white label products exactly you can white label. A
[56:21] Speaker 1: lot of people actually do that, they don't know, but
[56:23] Speaker 1: it's a lot of opportunities within the industry as well.
[56:26] Speaker 1: You know, people always talk about all these sources and
[56:28] Speaker 1: income you need, but I think you should always squeeze
[56:30] Speaker 1: as much out the limen first. A lot of times
[56:32] Speaker 1: you can create a second and third third source within
[56:34] Speaker 1: that same industry if you understand it, and if you're
[56:37] Speaker 1: you know, if you're if you know, a lot of
[56:39] Speaker 1: people don't know stuff. You know, as y'all know, you
[56:41] Speaker 1: don't know what you don't know, you also can't do
[56:43] Speaker 1: what you don't know. So that's why it's so impoorant.
[56:45] Speaker 1: You know, proximity is so imporant coming to invest best.
[56:47] Speaker 1: I've been there every single year from the very beginning,
[56:50] Speaker 1: and every time we were there, me and my twin
[56:51] Speaker 1: would walk through and say, now, why we didn't get
[56:53] Speaker 1: a benner? Why didn't we always walk through and be like, man,
[56:56] Speaker 1: we should have really been a part of this. So
[56:58] Speaker 1: I'm just super excited. Were doing a real big bringing
[57:01] Speaker 1: a lot of heavy hitters, and I'm just excited to
[57:03] Speaker 1: just impact the people in this industry specifically, so.
[57:06] Speaker 3: And talking about like different income streams that people can
[57:11] Speaker 3: make for me, Like you said.
[57:12] Speaker 6: Like Gus, you can have a product, yep.
[57:14] Speaker 3: Product, you can teach, a course, yep, you can you know,
[57:19] Speaker 3: sell merch, like for a barbera, a hair salon person.
[57:26] Speaker 3: What how can they make different streams of income for themselves.
[57:29] Speaker 1: Yeah, Like you said, a product, it could be merch.
[57:32] Speaker 1: Like you said, it can be trainings, teaching other people
[57:35] Speaker 1: how to do what you're doing. It can be a salon,
[57:37] Speaker 1: a barbershop, a salon suite that you eventually own. It
[57:41] Speaker 1: can be events that you do that you're teaching, and
[57:43] Speaker 1: trade school. Yes, yep, teaching and trade school. I think
[57:48] Speaker 1: that's for the most unless I'm missing some you know,
[57:50] Speaker 1: a beauty supply store. Uh, I think for the most part,
[57:54] Speaker 1: that's pretty much it. Yeah, I think that's pretty much it. Yeah,
[57:58] Speaker 1: I could be missing a couple.
[57:59] Speaker 5: But but the project thing is so wide range it is.
[58:02] Speaker 4: It could be the shampoo, it could be a condition,
[58:05] Speaker 4: it could be a cone exactly.
[58:06] Speaker 5: There's so many different.
[58:07] Speaker 2: Things could beijing. It would be all kinds of different stuff.
[58:12] Speaker 1: So the key with that, as any business, it's just marketing,
[58:14] Speaker 1: you know what I mean, Because anybody I think it's
[58:16] Speaker 1: pretty easy to white label something, but people think, oh
[58:18] Speaker 1: I have a product, now it's just going to sell,
[58:19] Speaker 1: and it's like it's a whole another ballgame. You gotta
[58:21] Speaker 1: really understand that marketing and invest in that marketing because
[58:24] Speaker 1: people don't like to spend money, but got to spend
[58:27] Speaker 1: it to make it for sure.
[58:29] Speaker 3: All right, gosh, there you have it before we leave,
[58:32] Speaker 3: telling people how to.
[58:33] Speaker 6: Follow you absolutely on social media, website anything like that. Yep.
[58:36] Speaker 1: Also show social media platform sway underscore of the pro h.
[58:39] Speaker 1: The website for my free life training is the sln
[58:42] Speaker 1: swite model dot com. That's where you can see my course.
[58:44] Speaker 1: My training is my inner circle and then YouTube is
[58:46] Speaker 1: going to be sway to pro as well.
[58:48] Speaker 4: So it's a pleasure having you absolutely, thanks for having me,
[58:50] Speaker 4: thanks for joining us.
[58:51] Speaker 6: Thank you you guys. Next week

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