Cody Bradstreet. Cody has a background in accounting and was working for Dell when she realized she needed a backup plan for work. She opened up her own franchise of The Lice Place, where people can have lice manually moved without harsh chemicals. Find out how an accountant got her hands into the lice industry.
Famous Five:
Favorite Book? – Her own future book
What CEO do you follow? — No
Favorite online tool? — Quickbooks
Do you get 8 hours of sleep?—Yes
If you could let your 20 year old self know one thing, what would it be? — Love yourself. Forward fixes everything.
Time Stamped Show Notes:
01:00 – Nathan introduces Cody
01:20 – Started in accounting
01:40 – Worked at Dell
02:10 – She left Dell to “chase my dreams in the lice industry.”
02:30 – Started as a backup plan for possible layoffs
03:20 – She approached a small business, The Lice Place
03:50 – The transition
04:25 – Franchising
04:40 – Total revenue for the year before she bought it was under $50k
05:10 – Service to manually remove lice
05:50 – She did her own valuation
06:50 – Royalties
07:10 – A standard franchise model
08:00 – A goal to buy the whole business
08:50 – Why to buy instead of build
09:10 – Revenue for the last year was $250k
09:50 – Employees are the biggest expenses
10:10 – Advice for future franchisers
10:40 – “Get a good lawyer.”
10:55 – Connect with Cody on LinkedIn
12:45 -- The Famous Five
3 Key Points:
Put yourself out there to get into a certain industry or business.
Consider buying a business instead of building a new one.
Make sure you read the fine print before you start your own franchise.
Resources Mentioned:
Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
Freshbooks - The site Nathan uses to manage his invoices and accounts.
Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
Quickbooks – Cody’s accounting tool
Evernote – Nathan’s favorite online tool
Show Notes provided by Mallard Creatives