How to Sell 93 Franchise to a PE Firm and then Do it Again.

Top M&A Entrepreneurs

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Ron Holt Former CEO & Founder of Two Maids & A Mop. Current Founder of Pink Zebra Moving.
SHOW NOTES:
00:00 Intro to Ron Holt
01:20 Where did he get the inspiration?
03:48 How he launched Two Maids and a Mop
04:47 How much did you save up?
06:33 Why go after a fragmented industry?
08:02 Did you create a formal business plan?
12:45 How long did you go without paycheck?
15:12 Who was your Darth Vader?
16:10 How did you turn it around - figure out product market fit?
19:24 How did you pay your people?
20:40 Did you terminate the bottom 10%?
21:19 What were the economics of your franchise?
22:24 You got it figured out, what did that do your revenue?
23:34 Where did the franchise idea come from?
26:04 You met a Subway billionaire on accident?
28:13 What was the conversation like?
30:43 Did you keep in touch with him?
32:43 How did you go from 11 to 93 locations?
33:15 How much did you sell a franchise for?
37:29 Why were people attracted to the opportunity?
39:12 Fast forward, 93 locations, why did you sell to PE?
40:58 The new idea...when did that start?
43:22 There is not repeat revenue in moving business - or is there?
44:54 Pink Zebra, is that from Purple Cow, #sethgodin
45:39 Did you hire an investment banker to help you sell?
49:02 What kind of multiples did you get on a 93 location franchise?
50:16 You have a boat load of money now, did you apply same boot strap ideas?
53:02 How many franchises do you have now?
53:50 What was a big mistake you made in that first business?
55:50 Do you feel like you are following in Fred DeLucas shoes?
56:35 What is a win for you?
58:48 Revenue for the moving company now?
59:22 How many are you going to add per year?
LINKS to Ron Holt
https://www.linkedin.com/in/ronholtfranchise/
https://pinkzebramoving.com/