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Michael Girdley (@Girdley), and Mills Snell (@thegeneralmills) talk about a deal named 2 Smash my trash franchises from Hennepin County, Minnesota wherein we get to know what this is all about and whether we loved or smashed the description and financials.
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(00:00) - Introduction
(00:25) - Deal & financials: 2 Smash My Trash Franchises
(00:55) - So what kind of Deal is this?
(03:34) - The first Red Flag: What is suspicious about this Deal?
(04:56) - Why does the Smash Truck look so cool?
(06:36) - What does the operation look like for this business?
(07:12) - What are the inclusions on the Bonus Material?
(08:00) - Any first impressions on the deal?
(11:42) - What are the requirements for a franchisee?
(12:51) - Regulatory risks & understanding of a “CYA” document
(15:54) - Competition risks, lobbyists, and crossings you want to stay away from.
(17:37) - Our sponsor is Cloudbookkeeping.com
(19:11) - Second Red Flag in the listing: What is inconsistent with this story?
(20:12) - What are the dangers of having a big competitor ready to launch lawsuits?
(22:30) - Let’s discuss the unit economics of this business: Customer, value proposition & competition.
(26:42) - What is going to play a big role in the performance of a Franchise? What could the overhead structure look like?
(27:33) - What is the fundamental problem with franchise incentives?
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