Ladies and gentlemen, welcome to a special edition of the Money Mondays podcast. Normally, we're inside of an RV motorhome, but instead today, we are inside this $100 million mansion in Beverly Hills that Tai Lopez is hosting his event set as we speak. Some of his guests happened to be the people I was going to interview. So by the being by the boom, we decided to take over his library to make this podcast episode. So we covered three core topics, how to make money, how to invest money, how to give away to charity. We're talking about all those topics and keep in mind when you listen to this podcast, it's not always just for you. It might be for someone from your past, present, future, meaning I might interview someone about real estate, owning nightclubs, a rapper, an athlete, a celebrity, and the topic that they're talking about may not pertain to you, but it might be for someone in your life from your past, present, future. So listen to these episodes. We keep them under 40 minutes because the average workout is 45 minutes. The average commute to work is 45 minutes. So this episode will be under 40 minutes for your listening pleasure. So without further ado, I'm going to have two guests at the same time give you a quick two minute buy of each so we can get straight to the money. Hey, Chris Wright, co-founder of the company Franzy. My background is in software and product and we're building a product called Franzy. Think the Zillow for franchising. So we help people get paired with franchise brands that are a good fit for them and help them become entrepreneurs. Very cool. And I'm Alex Merznak, originally from Minnesota, based in Charlotte, North Carolina now. The other co-founder of Franzy and a Sierra entrepreneur. This is my third company. The last one we raised 35 million in venture capital for it was a laundry and dry cleaning pick up and delivery business. Eventually started franchising part of that business, which is how I got into the world of franchising and saw, you know, just how broken and misaligned the franchise buying processes. You were hoping to disrupt the traditional broker model and democratize access to buying small businesses and franchise businesses. So the company you raised at 35 million for, did you stop, you get bored, did you sell it? A mixture of all the above actually. So I was nine years into it. Whoa. Yeah, long, long, long journey. And we started at the advent of all the like Uber for X businesses. So you saw like shipped an Instacart and wag and Rover. I was like, someone's going to do this for laundry and dry cleaning. I'm going to be pissed if it's not me and someone else does it. So we started up in 2016. And the reason I think I eventually started to move on from it last year was we had pivoted into a business that had trucks and washers and dryers and eventually vertically integrated the business. And I was like, I don't know if I'm the guy that takes us from 30 laundry mats open now to 300 or 3000. So hired a CEO last year to go work on Francie with Chris full time. Very cool. What about you? But of me? Yeah. Last company. What did you say? What happened there? Yeah. So before Francie, I was with a company called HR Logix. We helped provide tax credit software and HR compliance software to businesses. We grew that business from I think seven people when I joined in a couple million revenue to close to 90 million revenue by the time I left. I had just had my first kid and we had been growing this business for about three years and it got pretty intense. And I really enjoyed the people I was working with in the business I was building, but I wanted to take a step back and spend a little time with my family and really be present for the first six months of my son's life. Around that time as I was kind of getting decompressed, I was called me about this idea of Francie. Send the bat signal. Send the bat signal. We've been wanting to work together for a long time and I was ready to jump in and start building Francie alongside him. Did you guys happen to live in the same city or conversion? So he was in Charlotte originally when we met, but then he had moved to Birmingham for the HRLogix business. I was like, all right, come on back home. Very cool. All right. So let's talk about the make money side. When you're first getting into an entrepreneurial career, someone out there listening, they dig right into entrepreneurship. So they go take a job, you know, work at a company first, like talk to yourself about your thoughts about the beginning of an entrepreneur or journey when they're like 21, 22, 23 years old. Yeah. So for me, like I grew up, my dad was a financial advisor. I think I got to see a little bit of that, like eat what you kill mentality. And he'd always told me, like there's three types of careers or, you know, paths you can take. You can either work for someone else. You can have the ability to work for yourself, which is what he was doing. We're going to have people working for you. And like that, that just always resonated and stuck with me. And I knew I needed to be in bucket two or three. And he's like, you'll live a prime or fulfilled, you'll have your life doing that. And so I took that advice wholeheartedly and started a business in college. Love entrepreneurship was addicted to it. And through that kind of course, like seeing my peers, I think, you know, realized we're pushed frequently, you know, to get good grades in high school, to then get into the good college, to get good grades again, to then go work at the Fortune, you know, 100 company. And I just didn't want to do that. I knew that wasn't for me. And so my advice is, especially to people of that age or that juncture in life is to take the risk then, you know, that's probably one of the best times in your life to do it because you don't have a ton of responsibility, probably don't have kids at that point, a ton of, you know, debt or bills or anything. And so I always say, buck the norm and try that, try that business and take that risk at that age. What do you think? Yeah, I had to add two role models in my life. Earlier when we were talking about kind of business and what I should do with my life and kind of how to get started. And I don't think that a lot of people really know who they want to be when they grow up. I'm still kind of learning who that is for me. But that might. That's right. That's right. My father-in-law is a serial entrepreneur, and he encouraged me to kind of just explore entrepreneurship. And so I started my first business in college was that Amazon FBA business. I know a lot of people explore those at one point. And we had gotten pretty big at the time. And then took my dad's advice and went down the kind of corporate route and went to go work for Deloitte and consulting really enjoyed that as well. But determined that I really kind of want to be the owner of my own destiny a little bit. And so much of my wife's, your grand-in-law, and started a cleaning company was on demand. Uber for cleaning similar to Laundry. I got out sooner than he did. But I think that you really have to figure out what you want to build and how you want to build it. But more than anything, it's a really great time. Like Alex said, to take risks when you have less responsibilities. I know that it was easier for me taking this risk, having a kid already because I had done it in the past. But if I was just starting from scratch at 31 years old and deciding to be an entrepreneur, I don't know that it would be nearly as easy as it was back then. So quick question on the laundromat side. Every article study I see, because I talked to Cody Sanchez a lot, showcases that laundromats are actually the lowest failure rate of any business to acquire. You guys know anything about that? Yes, we still have 30 plus of them open and going. I think it's because it's such an essential need. People have to have clean clothes. And so if you're in a lower income community or an area where there isn't access to a washer and dryer, you have guaranteed customers. And they're fairly simple businesses to run. There's no employees if you don't want to. They can be an unattended laundromat. And so I think that's why there's a lot of success in the model. Now, the size of that success varies. You could have a business that only picks off 30 grand in cashflow a year. If it's a bad area or bad equipment. I've seen laundromats do six, seven, eight hundred K in cashflow with very, very few employees. Very cool. So the 30 laundromats, you guys are running those? How does that work? So some of them are corporately owned and some are franchise. So we started franchising the laundromats in 2021 under a brand called Laundromat. We sold 118 locations in 14 months. And that's the beauty of the franchise model is it can scale and just blow up. You have other partners with you that have the capital that are building and developing a series of locations with you. And so we could grow the business pretty rapidly. The first six years we started, we had two corporate stores. In the following two years, we started franchising at 30. Whoa, that's a huge job. It speeds everything up when you bring those partners in. So I invested in EverBowl 2018. There was 13 locations, linked our eyes to 2019. There was 21 locations. I raised $5,000 for the company to help scale it. Seven seconds later, it was COVID. So we had the furlough of the staff. We had at that point 25 locations open right around March when the closing day was March 2020. And then Jeff Ensar went on the full attack, signed like over 300 leases. So franchise all over the country. Drew Brees invested, Jason Tatum, all these things like, come on, everybody started jumping in. And now, a few years later, there's 103 locations. One new one every six days. We're building for everybody else. We're building for Shack, Mark Wahlberg, EOS. We're building other people's locations. And I think about that shutdown period of like most people shut down. That's why it was called the shutdown. Especially franchises that were freaking out. They weren't willing to go sell franchises. And so it leads me to, tell me about Fransy. Like, what is this? Why is this? Like, why did you decide to go down the franchise model? Yeah. So when we started franchising the longer guys, we knew nothing about franchising. It was this crash course like entrepreneurs do. It's a problem. Let's just go figure it out. And so we started franchising. We realized, right, how do we sell a franchise? It's a, you know, do sales and run ads and go on podcasts. And we worked with what's called an FSO, a franchise sales organization that essentially acts as your internal sales team. And so that was effective. They, they, they helped a lot. They stood up our sales process with us. So we were so, you know, we were so focused on operating the stores and getting our new franchisees open. But we eventually crossed paths with business brokers, franchise brokers. And what a lot of people don't realize is those franchise brokers take a 60% commission, six, six zero on the franchise fee. Wait, what? People don't know this. And like, you'll get reached out, you know, on LinkedIn by these individuals. You know, this is a free, free service for me. They tell you they make money from the brand, which they do, but they don't, they leave out how much it is that's leaving the system. That franchise fee should be reinvested in training and site selection and marketing 60. And so I would go to these conferences with these franchise brokers, and I saw just how much money they were all making and how, kind of like fat and happy they all were. And all the brands were like, I hate having to do this, but I don't know what else to do. I'm so focused on scaling the business that this is just, this is the way it is. And as an entrepreneur, you hear that a bunch of upset people, one side that's very fat and happy. There's a problem here that could be solved with technology using AI, better sales process. And so our goal is to democratize the process around franchise discovery, franchise buying and selling. So what stage of the company in now? So Chris and I started working full time on it last summer. And the better half of last year was compiling the largest, most robust dataset in franchising. We have over 25,000 FTDs, franchise disclosure documents across 3,600 brands. We've trained the LLM, we've trained the model to be very, very accurate at recommending the best brands for you as you come through. We soft launched in November, hard launched January of this year. We've raised about 3.3 million adventure capital. We've started closing deals like crazy and helping people find the best fit franchise for them. So how do you make money? So similar to a broker that we get paid based on success. So around 59%. No, it's a much lower reduced flat fee. And so we tell our clients upfront, we make money from the brand, here's how much, and it's a flat dollar amount. So that we have no incentive to push one brand over in front of you. It can be objective. Yes. So whether I want to get a gym or an Everable, it doesn't matter to you. Yeah. Versus a broker, they might only show you the analogy I use is brokers today will only have an inventory of like 30 to 50 brands. You again, as their client, don't realize that you think, oh, this person's going to bat for me, they're going to look at the thousands of brands. They're only showing the brands that have paid the play in the background, not 30 to 40 K just to get into the group. And so it's like a real estate agent showing you houses that they're also the listing. The fuck those things on here. It's crazy. No, you would never buy a house like that. So why would you buy a business that way? Okay. So I go to the website. Where's an app? That's a website. website. I go to the website. I say, I'm Dan. This is how much am I telling you my budget or inside my area? What am I telling you? Yeah, you're answering around 10 questions, giving us interests, what industries you're interested in, your budget, kind of where you want to put the franchise. Interest, do some piece of information that feeds into our AI, which looks at everything we know about every single brand, which the mall is trained on, and then pulls back with nine or so recommendations. Then you're going to see a screen that'll have kind of Tinder style thumbs up, thumbs down as you like different brands that then feeds in the algorithm again. On the end of that, that journey, you kind of get connected with one of our team members, one of our coaches is going to help narrow that list down. And we spent a lot of time with prospects on the front end to make sure that there is educated as possible, but also to make sure that they're getting matched with the right brands. We're not just rushing them towards a decision or rushing them to talk to brands, we want to make sure they understand franchising and understand what they're getting themselves into before they actually get to that stage. And so are there experienced brands that are going to come there or experienced investors or do you think it's going to be someone that's just starting with one to three locations that wants to, Kevin? We have three main ICPs, ideal customer profiles. It's the corporate grinder. They've been working nine to five. They want to do something entrepreneurial, but they don't know where to start. They got 600K saved up. Yeah. So there's that group, then there's like the side hustler, you kind of hacker type that does short terminals and they've got crypto. Cody Sennacher, my london man. Exactly. Yeah. And then the third group is your sophisticated, you know, opera. They own five units, 10 units, 20 units of a concept, and they're looking to add to that portfolio and find the next Dave's hot chicken or hot concept that they're discovering on Francie. So I go there, I discover it and you guys recommend fit body boot camp. Okay. Now what? Yep. So we, you have a coach that you can use as much as little as you want. So you know, franchise advisor, they can help you with finding the right lending or capital structure. They help you with finding a franchise CPA, a franchise attorney, the right commercial real estate agent to help you find the site of it's a retail business. And then if there is ability to negotiate with the brand, they'll help you be in your corner through that process as well. So they walk you through the whole franchise buying process to the day that you sign and then we're not done at that point either. We help you with all the things that the brand isn't already doing. The brand's going to do training and marketing and some of the site selection. We're all the business in a box type of stuff. Get your entity formed. We'll help you set that up. We'll help you with all those other things that every business has to do, regardless of whether it's a franchise or not. And then what about the building? Like, have you talked to Jeff Henson about we build to actually go build the locations? Yeah. So I was on Jeff's show probably a month or two ago and met Justin Sloan, who's your big operator in Texas. You know, we'll eventually pull we build in for offering to do that. Yeah. Interesting. OK, so I go there. You tell me if you buy the bootcamp. I talk to my coach. I've got 350 K saved up ready to go. Did I talk to you again? Don't you do anymore? Yeah, the idea is that every step of the buying process, even if you hit a hiccup along the way in a brand conversation, we're having conversations with you, your coaches, every single time you have one of those, there's debrief calls. If you want to have them, right? Depends on how much the prospect wants to engage, but has debrief calls at the end of each of your meetings with the brand helps you understand what came out of that meeting. You have new questions to ask at that meeting and then watch with you all the way to Discovery Day, which is that kind of final step before you sign or don't sign and then helps you make that decision at the end of the day. So they're there as much or as little as you want, but really throughout the whole process and then thereafter. All right. How do people find you guys? Where's your clients coming from? Yeah, so it's three main channels right now. It's programmatic SEO that we're using. So we have all these very data rich articles on top 10 ice cream franchise of 2025 that have investment costs and revenue and Google my business reviews. So SEO we're dominating in paid ads, podcasts, and we're starting to put a ton of our own content out. We launched a show recently called how I franchise this, which is a complaint on the NPR podcast. We're telling the story of like the normal dude, right? It's not Colonel Sanders or Ray Croft. So we want to talk to Susan and Tim who left their jobs at Bank of America. Now they run three, you know, fitness concepts and they love it. They've been more fulfilled doing that than anything else they've done. We want to tell the story of that average person, that average operator that went and did it. So someone saved up this money. They're working their core job. Maybe they sold some real estate on the investment side of this podcast. I like to ask like, how do people make decisions like that? Because they can invest in the stock market, cryptocurrency, more real estate. There's so many different things. S&P 500, why franchises? Yeah, so I think franchising is one of the most underestimated wealth plays of of all time. It's 10% of our country's GDP and no one's talking about it. It's always like us McDonald's and Subway and that's what it is. They don't realize it's hospitality and home services and fitness and health and wellness. So it really spans all these different categories. And then the success rate, which I think is important for people that are being entrepreneurs for the first time or the 20th time, is the five year success rate on a franchise business is 85% compared to half of independent businesses. Failing after five years. Yeah. And so that's the reason we're preaching about it is entrepreneurship has changed both of our lives in a very positive, incredible way. But not everyone wants to go be a tech entrepreneur or a real estate entrepreneur. And this is a really good, but diverse set of options to become an entrepreneur in a more de-risk way. Interesting. What about for you guys personally, as you guys are making capital, what do you like to invest into? I mean, we're both looking at more ways to invest in franchising as much as possible. Alex is investing in a couple of franchises and me personally, I'm trying to build out a franchise portfolio as well. We haven't. We're just kind of getting it off the ground. But I think that we want to put our money where our mouth is and invest in franchises because we do believe it is a very de-risk way to build out your own personal wealth, wealth for your family and generational wealth. It scales. It's got a playbook that's built in and it gives you the opportunity to build on a system and platform that's got support built in that you wouldn't necessarily otherwise have if you're building something from scratch or buying an existing business. I'm doing five indoor golf simulators in Minnesota called it's called another nine. I like it because there's no employees. There's no food and bed. It's like any time fitness you fob in or use the app to get in. It's private based. So it'll be like a room like this where you can go with your family or buddies three in the afternoon or three in the morning. There's no employees there. It's fob access. And I really like this one bagel concept called pop up bagels. Oh yeah, it falls okay. Blowing the average unit volumes are crazy. It's like $2 million in revenue off of bagels. Really? And it's like one of the simplest thing. One of the genius things they did is they forced you to buy three. You can't buy one. Can't buy one bagel. You can only get three groups of three. And that's the thing. And the cost to get in is like 450 to 650. They've sold all of Maine to Florida, all of Texas, all of California. Blowing up. It's like the next I'd say crumble cookies go through bagels. Interesting. Yeah, I was wondering why I followed that guy. There was something about it that made me compelled by it. They're doing new flavors every week and cream cheese, crazy, you know, spiced flavors and cookies and cream. And that's why I think people are getting hyped up about us. The crumble playbook, but for bagels. Yeah. I mean, crumbles got multi-billion dollar valuation now. It's just staggering to watch what they're doing. Okay. So also on the investing side, how can people invest into learning? The kind of they learn about franchise they can figure out. Do I want to pop up bagel? Do I want an Everbold? Do I want to fit buddy boot camp? Do I want a laundromat? Like where do they study? How do they invest in themselves? So there's a lot of good, you know, podcasters out there, Brian beers, there's Fran dogs and the wolf of franchising are good, like newsletter resources. We have our podcast where we tell stories of people getting into it, how they got into it, how they financed it, how they identified. What's your podcast called? How it franchises. And then on Franzy as well, we have all sorts of franchising 101 guides. So, but as an FDD in the first place and what section should I look for? And then a lot of our, you know, software, our process is to help with that education to get over that first step of fear. Cause that's where most people get hung up is I don't even know where to start. So I'm not going to, we want to make it as easy as looking for a house on Zill. Make it fun, honestly, where you can go look and see, like I could see my self doing this. It fits me. It's a 97% match, et cetera. So we have tons of educational content on the, on the site as well. And then our coaches as well, right? There's no obligation if you start talking on one of our team members, there's no obligation to move forward, even if it's just to understand that franchising is a good fit for you. We sometimes sell people franchising might not be a good fit for them, which is part of what we believe in is transparency and objectivity. Right. We don't want to recommend one brand of the other because one brand pays us more and we also want to make sure that we're transparent with people on how the whole process works and can educate them whether they become a client or not. So as you're considering investing to the business, raise 3.3 million and growing, why does the company go raise $3 million? Why is that part of the process? Yeah. So we, we bootstrapped initially and we're like, oh, this takes a little money from previous businesses. And then we just, you know, we see this wave happening right now, AI starting to displace more and more white collar jobs. It's people that would go buy and run a franchise and we want to capitalize on the way that's happening. There's also the silver tsunami happening with the boomers transferring 15 trillion over the next decade. It's our thought is we get our bootstrap and go a little slow or we can raise money, accelerate product development, accelerate, go to market and be more aggressive on, on marketing and driving awareness for what we're doing. Cause there's a lot of things out there that you could do. You can go to a biz buy, sell, you can go, uh, you know, consume Cody Sanchez's content. There's all these other ways to buy a business and we want to grab our piece of that mind share of pay franchising is a very viable way to get into ownership and raising capital helps do that better and faster. On the Alex's point earlier about, uh, franchising, making up 10% of the USGP, but no one seems to really talk about it. Um, you can either buy a business, you can start a business and scratch and then you maybe have a friend or a cousin or somebody who does franchising or isn't in franchising somehow. We want to make franchising as mainstream as possible. And one of the best quickest ways to get there is to invest more capital and making that story told kind of more broader scale. It's talking about investing in people. Let's say I am the doctor or accountant lawyer that did say about Path of Mellon, I can put into it for decay into this thing. One of these franchises, I don't want to run it or I don't know how to run it. How do I invest in people? How do I go find some button to run this thing or program this thing? So not yet, but at some point in france, he's going to pair capital with the operating. So part of that survey was not seen that up. Not there yet, but that's one of the product iterations we want to make is cause I ran into it all the time. You get these really, really good operators that ran five McDonald's for, you know, wealthy family or individual who just doesn't have enough money saved up to go buy their own restaurants. They would be a great candidate to go pair with Dan, who's maybe saying, Hey, I've got a capital. I want to run six Dave's hop chickens. So let's find the operator and give him some sweat. I don't know if I don't want to run them. I want to eat at them and own them, but not run them. I want to post about it. Definitely don't want to run it. So my life is designed where I will not do a project without a quarterback. Okay. How much money you tell me? I don't care who this that I don't, I don't care about any other stuff. If I don't have a quarterback, which is a CEO to run that company, I will not do the project, even if someone offers a boatload of capital. There's a war chest. Here's $12 million. Dan, do this to kill the brand with me. No, I'm not going to run it. You're not going to run it. Who's going to run it? I don't want to find out later. I don't want to go just hire someone off of LinkedIn or master.com or hot jobs. We'll go to run it. I need to know who the quarterback is or I am not in ever under any circumstance. It comes up every week. I'm pitched why every day I'm pitched, but every week I'm pitched like that, that time, like something that's fully capitalized. Just be my partner. Just be the advisor. Nice to say no. Yeah. I leave a lot of free money on the table, but I know the long-term effect of it is, and the short-term, if there's not a CEO, if there's not a quarterback to run this thing, there is no chance at all. At all. Can it get off the ground? Maybe. Can it get to XYZ? Probably. But like without someone running the day to day to day, not possible. You need someone who's like blood, sweat and tears and time like the man in the arena. Yes. Constantly obsessing over it, thinking about it. The way I describe it is called ride or die. So I'll give you a quick example. Let's say there's two girls that are pitching right now to invest in their companies. One girl, she went to Harvard. She got summa cum laude, blah, blah, fanciest degrees you can imagine. And she's selling red cups. And these red cups are going to be $2.99, very comparable to the other price point of other, the solo red cups that everyone knows at every grocery store. But she's got the pedigree. She's got a business plan all set. This girl over here is selling green cups. These green cups are biodegradable. She donated to percentage to saving the elephants and the manatees. And they're a little bit more expensive to $3.99 because it is more expensive to make these green cups. But this is her passion. She's been studying everything. She knows that they're combustible, compatible, whatever you the heck you call it. And they can be replanted and she does it. She has all the things. Every time you buy one of her packs of green cups, a tree is planted. She got it all. Who do I want to invest into? Green cup. Every single time. You know why? Because the red solo cup girl gets an offer from Gary B or Microsoft to come work for her. She's out there. Oh yeah, we'll give you 800K salary plus equity. You can see how much smoke she'd go work for them. Because she doesn't care about the red cups. It's just a business. I could interchange red cups with flowers, cans, books. She doesn't care. It's just, it's a widget to her. She just knows she can run a business because she has the pedigree. This girl with the green cups, you can offer her a million dollars to go leave or 800K to go leave. This is her life. She wants to save the elephants and the mantis and plant seeds and plant trees. Like she cares deep in her soul about this thing. And the money is a default byproduct of it. She might not even care about. She might. I hope she has some. I do want her to care about it from that revenue perspective. But I want to know that she cares about the thing. And I will pick her every single day and she might not have any college degree. She might have left high school as a sophomore. And I don't care about that part. So I can build a team around her. I can go get the Harvard girl to go work for her. That I would love. I would love for that girl to be the president. But I want the green cup girl's passion to be the owner. I want her to be the right, what I call a rider guy. I remember when we were talking about Pop earlier, invested in our first company. He was like, you're not going to leave in like six months and go backpack across Patagonia. Are you? I was like, what are you talking about? He's like, I've had a bunch of investments where the founder just, you know, didn't have that hard and didn't have the passion into it. And I get why he was asking that now. But at the time I was like, what do you mean? No, this is like, this is it. This is all I do. And think about it. I work most weekends and you have to have, I think, that desire to win and be competitive and pour everything you have into it. That's my biggest fear is the founder of Loops. When they leave for personal reasons, they leave because they were lured away. They leave because they got hard. That is my fear in investing in a company because I'm betting on them, not the product. The products are all interchangeable. I always joke about Jeff Ensor from Everville. If he was selling pillows, I would invest the same amount of money. I say that same sentence all the time. He's rider guy. Morning, noon and night is on airplanes, trains and automobiles figuring out to scale this business over and over and over, no matter what. The good stuff, the hard stuff, the whole world shuts down when the freaking world shut down in 2020. He went on KBC and started doing a hundred dollars. That was crazy. He was selling a hundred and fifty grand every 11 minutes of frozen off site. All right, let's talk about the charity side of things. Why do you think it's important for companies, whether it's for their employees, their investors, their partners, their clients or front facing to have some type of charity component to their business? I've always been a huge believer in like, do good while doing well. And I think without getting on the soapbox too much, if you think of like, whether the center of like power used to sit in society at one point, it was very much religion. Like the church had a lot of influence and control over society. And then I think it shifted to government for a long period of time. We very much operate in a society now where that power and that influence sits within businesses. But yeah, we have the government still, but all the businesses are in the pockets of politicians and have a lot of influence on what we all consume and do. And so I think businesses have a huge responsibility to have that element as part of their culture and their mission of doing good while doing well. And part of the reason our mission at Franzie is to help the next million entrepreneurs is they have that influence and the biggest propensity to positively impact society and the communities that they operate in. So I think it's wildly important. And I think there's good ways to do it through entrepreneurship, whether it's job creation or you're creating a ton of revenue to pay a ton of taxes on it. Those taxes hopefully get used appropriately to get back to that community that you're in, but then beyond that, whether things can you do? So at our laundromats, for example, we put Read Play Learn centers in each location or it's free books and a kids play area for families to come in. Because it's a lot of single mothers and dads going into laundromats. We get new books every month and you could, you know, the kids could take them home and we just restock them every month. But it's things like that that don't cost the business a whole lot, but could drastically change the life of an individual or a customer experiencing that. What are your thoughts? Yeah, I agree wholeheartedly that to Alex's point about where the power lies, I think at the end of the day, right? Money can do a lot of good and it can also provide for a lot of people. Right. I think the more that businesses can give back, the more that especially in a space like franchising where one owner can own 15 units, 15 units could be 15 communities that are being built around that unit and the ability that they have on a scale is much larger than most individual business owners. So they have the opportunity to give back. And I think that in all rights, we all should give back as much as we possibly can to help those less fortunate in ourselves. We share a lot of the same philosophy on that topic. So there's one main question I ask and every single episode and I've never asked this question to two people at the same time. And I've never gotten the same answer once. Out of 200-ish episodes. All right. So you build this company up, you accident four years from now, hundreds of millions of dollars into your next company, building up hundreds of millions of dollars. But at the end of the time, let's say hopefully God willing, a hundred years from now, it's finally time to pass away. But you've accumulated hundreds of millions of dollars of net worth and you both have these brand new children. What percentage of your net worth do you leave to those kids? That's a really good question. That's a really good question. The only question I ask and every episode. I don't know the exact dollar amount or percentages, but one thing my dad, my dad grew up really poor and I think he did a good job instilling these kind of values of my brothers and I, where it was like when we got a car, for example, he's like, I'm not buying you a car. Like whatever you save up on your own by the time you're 16 years old, I'll match. So if you got 200 bucks or getting a $400 car, go figure it out. If you got two grand, I'll give you another $2,000 car now. And so I think about things like that a lot of like, could be worth a billion dollars. I wouldn't want to have my children be super entitled or everything's just kind of handed and you don't understand some of the sacrifices that you have to make and the work ethic you have to develop and build on. And so I think my number of my percentage would be centered and focused around that. It's like, what do they need to survive and have a happy life? But without it, I think not setting them up for success as an individual on their own. And so it's very small. I'm not playing a give whatever money I make away for the most part. Damn, that was a good answer. I was like very similar to where my head was going. Yeah. So both my father and father-in-law similarly, I grew up relatively poor. And one thing that my father instilled in me in my younger years and my father on later on is the ability to hard work and basically being the one who always shows up to get the money. And basically being the one who always shows up, who gets in early, who leaves late can provide for you and your family. One thing they both believe in is making sure that the next generation doesn't have to struggle as much as your generation did. However, making sure that those values are working hard and what showing up and leaving late can build in yourself and your family and build those ethics. Similarly, I don't know the exact percentage. I do want to give away a lot. I literally was thinking about this as you're giving this answer, but my goal would be to make sure that my kids have to work hard for everything. Because I don't think that handing them things is going to be a good value for them in the later parts of their life. I think we're built in the hard moments, not in the easy ones. I think character comes from the hard moments. So if you're giving too much to your kids and I don't want to get too much, then I don't want to make sure he works hard for things, but it's safe, right? Yeah. So I don't know what's your answer. So it evolves over time. In my dream world, I'd give her all of it to utilize while still giving a big portion of charity, but she leads it. Right. You know, I'll be adopting a boy at some point, so there will be two kids, but right now there's just one. But in my dream world, I'm building her up to be the steward of capital that I trust in her, not for her to have a zillion dollars, you know, because that would steal her chance of greatness. But if I teach her enough and she's in the 30s or 40s when I passed away, then I don't mind. If I give it to her when she's 19, it's different. I give it to her when she's 44, you know, not saying I was to be live then, hopefully I will. And so I think it's a much different when we think about when you hand the child, because when she's a 44 year old child, right? By that time, she's probably had her third exit for all I know, you know, like, and married with two kids. So I think I wouldn't be stealing anything from her if I almost gave her some hundred million dollars. Like, I think that'd be fine. It's 44 years old, for example. So I think there's, for me, one, it would be in a trust format. So she's not just getting handed an X time. And I also think no matter what, I would never give it to her all on one lump sum because there's no need for that. She's not going to go deploy it all. If I hand her 700 million, for example, I'm going to go deploy it all in one shot. Anyways, I'd rather give it to her at 10, 20, 30, 40 million a year, whatever the number is, probably a course of time, and have her deploy percentages to charity, percentages to our family members. And hopefully she's the leader of that. Because I built her up that way. And my unborn adopted son, same similar fashion, right? Let them split it up. Assuming that they're both good kids and good stewards of capital. But it's an interesting, because we didn't have money when I grew up. It built me to who I am. And so I definitely want to take that from her. But hopefully I'm still alive at that point. And so I'm not trying to, like, you know, but for some reason I pass and she's like 11, then yeah, it's going to be in a trust. She'll get it when she's, you know, 18, 21, 25, 30, et cetera, in tranches so that she's not getting. I don't want her to be a zillionaire at 18 years old. That's not, I know too many trust fund kids. And no matter how much training you give them, you know, we watch NBA athletes, we watch rappers, we watch people grow up and they get handed a zillion dollars. It's, you know, it's very difficult to explain this to the human psychology. What happens? A lot of their learnings go out the window or their non learnings don't, you know, aren't relevant at that point if they get handed this much money. So especially now with NIL deals, you've got 17, 18 year olds getting $11 million and they're, they don't have a driver's license. It is crazy. So yeah, so the knowledge is a big thing, the age is a big thing for me, but I would be comfortable with her having a huge amount of capital to deploy not for her to go buy title as a mention, right? That's not the point. All right. Working people find you guys, working to find your socials, working to find the company and tell us everything. Yep. So if you're interested or just wanting to explore buying a franchise, it's franzi.com, F R A N Z Y.com. You can also follow me on Instagram, TikTok, X, et cetera, Alex from Franzy. I have tons of business tear downs breakdowns and interesting business content that we put out on a daily basis. I'd say honestly, follow Alex. My socials are not that one. We have a follow Alex. Um, yeah, find us on franzi. And honestly, we're big fans of product feedback. So tell us our babies ugly. The only way that we get better is by feedback from people like you. So please visit franzi. If you want to buy a business or if you just want to rip it apart and give us feedback, I'm giving it for that too. All right guys, we're listening to the money, Mondays podcast where we cover those three core topics, how to make money and invest money, how to give it away to charity with these gentlemen. It's very interesting. Cause again, you may not want to buy a franchise, but your mom might, your uncle might, your friends might, someone at a dinner or lunch, six months from now, might want to get into the franchise game. And you could be like, Oh, you should listen to this episode. The money Mondays with the guys from franzi or some of the website, et cetera. So it's not always about you. Think about the people in your world that you might not even met yet that might want to listen to episode like this. We grew up thinking it's rude to talk about money. I think it's ridiculous. We have to have discussion about money, about loans, accounts, taxes. Should I borrow? Should I lease? Should I buy? So many questions about your normal daily life. Money is not the word of all evil. It's so much power and money and it goes for your bills, your health and everything involved in your life. So check us out here on the money Mondays.com and we'll see you guys next Monday.
