Robert Johnson, the President of Transworld Business Advisors in Chicago Downtown, is joining in as a host of this episode. He is the creator of a new economic model called Social Determinants of Wealth, the purpose of which is to reach out to communities where their members do not own the jobs they work in, and subsequently, all the gains tend to leave the community. Robert Johnson along with a great guest, Lester Adams from Choice Hotels, will dive deep into how socially-conscious lower-cost franchises are making this transformation in these areas possible. Listing of the week: Elbert Hatley (Chicago downtown). Two units of a Natural Facial Day Spa, low maintenance, only one employee required per store, only by appointment. Asking price: $300,000. Rapidly growing! Financing available. Contact Elbert firstname.lastname@example.org or call 773-234-1495.
[1:55] Robert Johnson, president of Transworld Business Advisors, talks about his career.
[6:35] Buying a franchise and offering franchise consulting.
[8:15] Working with IFA (International Franchise Association)
[9:27] Advice for the first-time buyer: First, follow your passion.
[10:12] Second: Buy an existing business.
[11:22] Third: Find a trusted advisor.
[11:54] Getting the message out into the community.
[12:05] Economic model: Social Determinants of Wealth.
[14:02] When the community doesn't own the businesses operating in their area.
[15:10] Offering socially-conscious lower-cost franchises.
[15:59] Access to capital.
[16:50] A job only creates income, not wealth.
[18:27] Partnering with developers.
[20:25] Lester Adams from Choice Hotels.
[22:06] Focusing on minorities.
[23:49] Promoting businesses owned by the people who live in the community.
[24:12] Different business brands.
[26:13] Reasons for a minority investor to chose Choice Hotels.
[28:31] Choice Hotels as a franchise brand.
[30:25] We only do well when you do well.
[30:55] Opportunity zones for hotel ownership.
[32:50] Dual income coming from hotel ownership: land and business.
[34:48] Success path during the past year for Choice Hotels.
[38:40] Deal of the week: Steven Hanson (San Diego North). Machine shop, 10 employees, in business for 20 years. Owners dressed the business for success and got it sold! A strategic buyer that wanted to get in the area. Picked the lease and kept employees. STE $575,000 per year. Cash deal on over two and a half times of the STE.
[44:15] Listing of the week: Elbert Hatley (Chicago downtown). Two units of a Natural Facial Day Spa, low maintenance, only one employee required per store, only by appointment. Asking price: $300,000. Rapidly growing! Financing available.
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