How a Beauty Professional Built a 7-Figure Painting Franchise in 3 Years | Rick Morgin

She goes to their discovery days, both of them. What made her decision was she flew out to Utah to the painting company called Painter Bros, and experienced the culture, kind of crashed the training program [laughs] of new franchisees, and completed her third year in business. Should top seven figures in revenue.

Wow.

I, in fact, I just spoke with a franchise developer last week, and she gave me her number, last year's numbers and, and this year's numbers. So she's growth. Now, her tagline or her statement about her is, "I was... I'm so used to painting faces, and now I'm painting buildings."

Welcome to The Real Estate Pros Show, where we interview real estate investing professionals from coast to coast, as well as the service providers that serve the real estate investing industry. Our goal is simple, share what's working now to help you improve and scale your business to the next level, and meet the pros that can help you get there. Real Estate Pros is powered by Investor Fuel, America's leader in helping real estate investors and professionals build the business you need to live the life you've always dreamed of. Let's start today's show. [upbeat music] Hey, folks. Welcome back to the show. Today, we're joined by Rick Morgin, a California-based franchise consultant who brings more than three decades of experience across franchising, finance, and business development, and helps entrepreneurs evaluate franchise ownership opportunities. Rick, thanks for joining us here today.

Oh, you're welcome. It, it's a privilege to be on your show, Dylan. I appreciate it.

What types of deals and conversations are coming across your desk, so to speak, these days?

I've had conversations with tech executives who have run their... They're at the end of their rope as far as their corporate career. And I have talked to a lot of independent business owners who are looking to expand, suggested to what's your exit strategy, and then when they... If they say they don't have one, then I say, "Well, you can create value by expanding through developing a franchise system." And we have... We talk about that.

I've had franchise, franchisees and a couple of people who started franchises, and one that comes to mind actually is College Hunks Hauling Junk. It's a, a moving company, and it's funny because it's this, like, red car theory. As soon as you hear it once, then you see it everywhere. I started to see all these vans with their logos. And I think there's so many franchise opportunities that it can be a little bit o- of overwhelm, maybe analysis paralysis. I know a- as an outsider looking in, I wouldn't even know where to start. Where do folks typically start when they're thinking of, "Well, what do I choose to be my franchise?"

In a typical conversation, maybe just like we're having, I'll ask them, "What got you here? What are we trying to do?" And that'll lead into all their explanation of their motivation for looking at, at a franchise. And then I like to describe as briefly as I can how we're gonna work together, what this journey's gonna be, and how we narrow down the wide offerings into one or two that we wanna dig deeper, and we do that together. So y- yes, I,