The Franchise Founders Podcast interview
Podcast Transcription
Introduction:
Dan Claps:
Welcome to the Franchise Founders podcast. We are on a mission to help aspiring entrepreneurs, just like you, take action through franchise ownership.
Christian Dadulak:
Allowing you to obtain more financial freedom, time with family, and ultimately, a business that can run on its own without you.
Dan Claps:
Hello and welcome to the Franchise Founders podcast. Dan Claps here with my co-host, Christian Dadulak. Christian, how are you?
Christian Dadulak:
Doing awesome today, man. I was having some internet connectivity issues earlier, so that was a little frustrating but we got it all worked out and we have an awesome guest on today. So I’m happy about that.
Dan Claps:
Excellent. Excellent. Yeah, I’m excited as well since we finally, after almost 30 episodes, have figured out our sound system and how to do these things right. Well, wanted to introduce our guest, Kenny Rose. Hey Kenny, how are you?
Kenny Rose:
I’m doing great, Dan, Christian. Good to be on here and see you guys again.
Dan Claps:
Absolutely. Very excited to be on this call with you, Kenny. Kenny is the founder and CEO of FranShares. And we’re going to let him explain the company, because it’s so different than so many different businesses in our space. But Kenny, would you like to take it away?
Kenny Rose:
Yeah, sure. FranShares is an investment company that lets anyone invest into franchise ownership. Just like you could buy shares and stocks of Apple, you could buy shares in a franchise down the street that produces income for you. It’s something I realize that most people don’t have the capital or the skillset or the time to run a franchise, yet they want to own the asset itself. So we basically do a mini IPO that lets anyone be able to invest into the actual franchise portfolio itself.
Christian Dadulak:
Well, that’s awesome, man. Well, what I find so interesting about FranShares is that it truly is unique. But what I’m curious to learn a little bit more about as well is obviously, I’m on the newsletter and all that, so I get all the information about… What is it, the first round that’s coming out?
Kenny Rose:
Yeah, yeah, we’re on our first portfolio right now. It’s a 25 million portfolio.
Christian Dadulak:
So what can you tell us about that? What kind of franchises are they investing in and why did you opt to go with those types of franchises as well?
Kenny Rose:
Yeah, definitely. This fund, it’s called the TNT franchise portfolio. And funny thing was I had come up with a name for it a while ago as a place-saver that the lawyers needed, and I forgot, I didn’t even tell my employees. I told a couple months after they came on. They’re like, “What’s TNT stand for anyway?” I’m like, “I never told you. It’s Takeout N Trash.” So I wanted to be really diversified in the different industries, so we’ve got quick service restaurants as well as the waste management space.
So the two different brands we have are Teriyaki Madness, which I’m sure you guys are very familiar with. Michael Haith’s been in the industry for a very long time. But for people listening that might not know, they are a quick service Asian concept. You think about who does almost like fast food in the Asian food space, they say Panda Express, they start drawing a blank. That was one of the immediate huge voids I saw. And then when you see Michael’s experience with Maui Wowi and Doc Popcorn, he’s just been an absolutely amazing operator.
And then for the other side of it, we wanted to show people like, “Hey, what are you not used to when you think about franchise?” Because they pretty much always think about food. So I brought in one of my favorite concepts, it’s called Smash My Trash. Smash My Trash really works like you think about anywhere that has a commercial dumpster, whether it’s construction, distribution, manufacturing, they’ve all got these giant commercial dumpsters out back, and costs a lot of money to get them hauled off every time. So Smash My Trash does exactly what the name says. They drive up, smash everything down in the dumpster so that you can just keep filling it back up again. So it’s a real need-based, B2B repeat service one.
The reason I picked these two, well, there were a couple factors in. For one, I know that people really want to get into something that’s got high growth potential, but very proven. So I wanted to say, “Okay, what’s between that hundred and a thousand location marks so they can show they’re really proven out, but also that there’s still really green territory available.”
So Teriyaki Madness has got 350 plus locations, open or in development. And then Smash My Trash is, I think, well past the 600 mark. So they both had that, yet we could still get into these major markets.
They also have amazing ROI when you’re digging into the numbers behind them. And then also, manageability was a big part of it too.
Teriyaki Madness has this great affiliate called Restaurant Sherpas that really, they’ll manage the day-to-day for you. They’ll help with site selection, build out, hiring, ongoing management.
And then the other side with Smash My Trash, most of these owners, they work a full-time job and they manage this on the side. So it’s really two to four employees an average location needs. So when you’re thinking about like, “What can I build infrastructure in?” Like putting a good GM in, building out the back office. If you don’t have to do a ton of employees on top of it, it makes it a lot more manageable. So those were the main reasons that we picked these, but there’s honestly a lot more method to the madness I can’t all throw out on podcasts.
Dan Claps:
So you got into franchising. We’d love to hear the story of how you got into franchising, because like most of us, it’s usually not on purpose. Maybe it is in your case. I don’t know when you had this idea. Would you want to walk us through franchising-
Kenny Rose:
Yeah, yeah, sure.
Dan Claps:
… and then how FranShares was born?
Kenny Rose:
Yeah. Well, originally, I was in finance out of school. I worked at Merrill Lynch as a financial advisor up in the San Francisco Bay Area. So I was already working with high net worth individuals, grow their wealth.
But at the same time, especially being based in San Francisco, I saw robo-advisors were coming up. I mean, this is way before Robinhood, obviously, but still, you saw the industry was taking a turn. And also, the people who were new there were really hating everything. And the people who were old there, they just kind of collected the books as people who were leaving the door. So I was like, “Okay, this doesn’t seem like a good long-term viable option.” So I wanted to see what else was out there.
So it was actually a family friend, CEO of a franchise that coaches CEOs, or as I knew him back then, he ran a company where he coached CEOs, and I thought that was a great business. I said, “I think I can help you with the next step in the career.” And then he threw me an absolute curveball when he’s like, “What do you know about franchising?” I’m like, “What do you know about franchise?” I’m thinking McDonald’s, Subway, those things. And he’s like, “Do you know my company’s a franchise?” I’m like, “There’s franchises for coaching CEOs?” He’s like, “There’s franchises for everything.”
And to me, that’s like, “Wow, that’s a very big industry for a fairly well educated person to not know that much about.” So I was like, “Well, let’s see how deep this goes.” So he introduced me to the franchise brokerage world, which I’m sure everyone on here knows is kind of like being a realtor or an investment advisor for finding the right franchise.
So he then introduced me to FranNet. So I worked for FranNet for four or five years and started off doing business development, eventually took over about half of LA County for him. It was about the time I left when I had the idea for FranShares. Are you guys familiar with Fundrise at all?
Christian Dadulak:
I am very familiar.
Kenny Rose:
Yeah. Basically, Fundrise allows anyone to invest into commercial real estate for… Now I think it’s as little as a hundred bucks. It might even be less than that. But they took advantage of this new legislature that happened about seven years ago as part of the JOBS Act, or Jumpstart Our Businesses Act.
What they did was they basically said… Kickstarter was really taking off and people were crowdfunding money to launch new products. But it wasn’t legal to give them a piece of equity, because then that is a security and it would be a breach of SEC guidelines. So what the JOBS Act did was created new ways where people could crowdfund money and own equity into something. So originally, it was meant to, “Hey, let’s fund businesses by crowdfunding money together.”
And then Fundrise was the first ones that ran with it and said, “Well, why don’t we crowdfund into an investment? It doesn’t have to be a business, but it can be real estate.” And now there’s like 30 different companies that do that. You’ve got Masterworks does this for fractional investing into artwork. You’ve got Here does fractional investing for Airbnb rentals. Vincent does it for wine and whiskey collections. So you can fractionally invest into anything now. But back then, Fundrise had done their series A fundraise. They just raised a ton of money. I heard about it, started looking. I’m like, “Wow, I’m going to do that for franchises.”
At the time, I was also like, “I’m not exactly a fundable founder right now.” I had good franchise experience, but I was like, “I shouldn’t do this until I’m the guy to do it.” So that’s when I left and started my own brokerage and partnered up with IFPG and really started to build my own both business and brand as a franchise professional.
So I started really guerilla marketing. When I started the business, I didn’t have a ton to my name. So I was like, “Cool, what’s free ways to get people or to educate people?” So for one, there was LinkedIn. I was always posting a lot on there. I started writing on Quora and posting answers on there. One of my answers was how much Chick-fil-A costs. Ended up sending out to like 40 or 50 million people. And then I also had a big emphasis on PR, so I’d reach out to journalists and all these things. So I got featured in Forbes, ABC, Business Insider. And eventually reached over 300 million people without any ad spend.
So I was having fun with my brokerage, and then the pandemic hit. And obviously, I kind of put the franchise idea on the back shelf for a bit because I was building this other company. Pandemic hits and I read an article that people are gambling on the stock market because sports aren’t on. And I’m like, “Oh gosh, now’s the time. Everyone’s looking for a new type of investment.” So I literally just, okay, shut that business down, go start FranShares. And then went out, got some venture funding, and then built a team and got it launched. So it’s been a journey, to say the least.
Dan Claps:
Some of the things you just said, you make it sound easy. Built this incredible following through your method of getting into the publications. But talk about… You mentioned that when you launched, you were able to get such an organic… Was that through the platforms that you were able to build that audience? How did you get such a large initial investment from candidates?
Kenny Rose:
Well, I guess there’s both the company side and then the portfolio side. Were you asking about both, or just one or the other?
Dan Claps:
Basically thinking about how you went out, formed this concept. Great concept. But I always say that when we’re talking to potential candidates, someone looking to buy a business or start any business, the question’s always, “How are you going to get customers? How are you going to get people to actually pay money?” You came up with this phenomenal concept, fractional investing, but then you actually got the funding.
Kenny Rose:
Yeah. So you guys probably can’t see it from here, but it’s probably that 37,000 on the waitlist there is probably what you’re referring to. We did it a bunch of different ways. The first 3,000 were purely organic, no paid anything. So yeah, it was part of my existing area I was talking to people. Facebook groups were actually an amazing thing. There’s very active groups and people are sharing ideas and they hear a good idea, they like it. So there were between like three different groups, I think, I got like a thousand or 1,500 signups from there. And then you really focus on referrals. So you ask people for referral, incentivize them that they could move up the waitlist by referring other people.
And then after we got funded as a company with our venture backing, I hired on this amazing head of growth. He grew a company called Gridwise, which was… They basically are like, “How do you maximize your Uber or Lyft or Uber Eats business?” So he grew them from a thousand users to about 400,000 users in two or three years. So the guy’s an absolute growth machine.
So we sat down, really thought about like, “Where do people hear about these different types of investments?” And whether it’s entrepreneurship or alternative investing, paid social marketing was a big part of it, as well as newsletters. Making partners with people who are writing them. We did some partnerships with them. Started working with influencers across different social media platforms. PR was also a great one that got a lot of great features about the company like when we got funded, when we launched, all these things. So honestly, it’s just somewhere people have really understood it and really taken to it.
Christian Dadulak:
Yeah, no doubt about that, man. I find the world of fraction investing so fascinating, because it really is somewhat of a newer concept. It hasn’t been here for quite that long. And when you mentioned Fundrise, I’m familiar with that. There’s others out there that do very similar things for commercial real estate. And you’re right, one has done that within franchising, and most people, like you said, don’t know anything about franchising. Again, they think food, maybe they think fitness, but they don’t realize that there’s this wealth, this whole industry that exists beyond that. So I think what you’re doing is absolutely incredible.
Something that I’m curious about is obviously as a young guy, as a young founder, and the concept itself is just amazing, of course, but can you walk us through what it was like to get that venture capital funding? I mean, what did that process look like?
Kenny Rose:
Yeah, it was a process for sure.
Dan Claps:
Another one that sounds easier than it is. If you’re enjoying this episode, please click the subscribe button.
Christian Dadulak:
And make sure to connect with the Franchise Founders podcast on LinkedIn.
Kenny Rose:
Yeah. Well, I mean, even before that, people don’t realize what goes into before you even start asking for money. Because yeah, you have to put investor docs together, get incorporated. And not just like how you slap together your own LLC, it’s like you’ve got to be really formed correctly.
So one of my advisors, Cody Barbo, he runs a company called Trust & Will, which is like TurboTax for trusts and wills. They’ve raised like 30 million bucks. He’s amazing founder and he’s a good friend from school. So I reached out to him and said, “Hey, it’s time to get going on this idea.” So he actually introduced me to the big law firm, DLA Piper. And I actually had to pitch them on, “Hey, I’ve got this idea. We’re going to get funded, but I don’t have the money to go put all the legal stuff together.” So they actually did it all for free and said, “We believe you’ll get funded. Pay us back when you do.” So that was already a huge win right there.
And then I’m running full steam ahead, super excited. I put together a massive list of just a bunch of VCs all over the country. I think it was like 350 or 400 of them, and crickets. I heard next to nothing back. I might have gotten three responses and maybe two phone calls. It was like, “Nice, interesting. Good luck.” And I was like, “You know what? All right, fine. They don’t get it yet, but I’ll go prove it.” I’m like, “Let me go sell it to angel investors first. If I can show that there’s buy-in from them, that there’s buy-in for this asset class as a whole.”
So I have a big thing, I don’t sell to friends or family. They have to be held accountable. So it was, “Okay, let me go start fresh and go reach out and find people who are angel investors and go after it.” And funny enough, one of these Facebook groups, that I had posted about the idea on, ended up being my first angel investor. And then all of a sudden, another person hears, people are word of mouth talking about it.
And also, again, I’ve been planning this for a while, so I think it was something like by now, like four years ago. I had started reaching out to people who had angel investor in their profile. I wasn’t seeking an investment. It was just very targeted too. It’s like, “Hey, I saw you’re in LA and you’re an angel investor. I’m in the franchise space. If you ever have any questions, I want to be a resource for you.” And then just stay in touch over the years. So then ended up being our largest angel investor came from one of those follow-ups years later.
So then yeah, I raised I think it was 570,000 in three weeks, and it was, “Okay, now it’s time to go get a venture capital company,” because you really need that credibility. And it’s amazing when you reach back out to everyone, you’ve got over half a million in the bank, everyone returns your calls. They’re all your best friends.
It was funny because I heard a lot of the same things over and over. It was, “This is an amazing idea. You’re clearly the guy to do it. I don’t know anything about franchising.” Now, I was like, “That’s fair.” And a lot of VCs, they like investing in what other VCs have invested in or something they understand. And just a lot of them… Again, it’s the F word of business ownership. A lot of them couldn’t really get past it or understand enough to make a big commitment. But still, everyone was like, “I still see a lot of potential for this. I want to refer you to this investor.” And they always want to refer to someone else because it’s good for the next round to be like, “Hey, I referred you to those guys.”
Eventually, I got referred to Chicago Ventures, which nice enough, they’re based in Chicago, where I am, and their office is literally down the street from me. So I was going, talk with their analyst a whole bunch back and forth. And then I was finally talking to Stuart Larkins, who’s founding partner of the fund. And right before he hops on, the lead analyst I was talking to says, “I just found out Stuart’s actually invested in franchising before.” I’m like, “Are you kidding me, you’ve never mentioned this before?”
So he hops on and I just kind of bulldozed my way through. I’m like, “Stuart, I just heard you invested in franchise before. Tell me all about it.” And turned out, he was part of a group that rolled out 500 KFCs to be their largest franchisee, and then sold it to private equity. I’m like, “So you get this.” He’s like, “Yeah, I get it.” And right then, I was like, “We’re good here.” That ended up being history from there, and they’ve just been amazing partners for us.
Christian Dadulak:
It’s fantastic, man. And now, all of a sudden, you have 37,000 people on your waitlist I see back there on the tickers. So that’s incredible, man.
Kenny Rose:
Thank you.
Christian Dadulak:
So can you touch on a little bit about who is FranShares for? Who is it not? Do people need to be accredited investors? Is there a non-accredited investor option? Can you walk us through that a bit?
Kenny Rose:
Yeah, so the current offering we have open is for accredited investors only, but the next one and all the subsequent ones will be open to everyone. We really want this to be an asset class that’s available to everyone, whether you are even a family office or institutional capital, all the way down to average Joe on the street who wants to invest 500 bucks and try something new with it. And I see it’s the combination of the two that really makes this the most successful over time. You’ve got larger checks that fill out the size and scale of the fund, and really, scale in franchising is where you make the most money.
But then also, we’re doing something very different that hasn’t been done in franchising before. When you think about what the typical franchisee is, besides local operations and capital, they’re the local evangelist. They’re telling people, “Come check out my location. Use my business or service.”
So with crowdfunding, what we’re able to do is change this from instead of one owner, to hundreds or thousands of local owners. So that’s why we also prioritize people who live in the areas where the investments are, because then you’ve got all these people who are then not only built-in customer base. Like if I own part of a Jimmy John’s, I’m going to Jimmy John’s all the time. But then also, they’re going to tell everyone else they know to go to Jimmy John’s, and it’s like, “Why Jimmy John’s?” “I’m a co-owner.” And now you’ve got the marketing for their investment, as well as for FranShares itself. So it really just snowballs the investments and the company too.
Dan Claps:
True network effect.
Kenny Rose:
Yeah.
Dan Claps:
Completely.
Kenny Rose:
It’s kind of like Reddit versus Wall Street, but to our advantage in local scale.
Dan Claps:
So the investor invests and you sent a portion of money into the fund, and then… I’m sorry for not maybe understanding this. They’re choosing to invest into FranShares, and then that money is then allocated to whichever franchise you choose? Or are they able to pick a brand that they like?
Kenny Rose:
So eventually when we have more of them, they’ll be able to pick specific brands. But to start off, it’s a predefined portfolio. So you’ll see like, “It’s these different brands and industries. Here’s where the locations are going to be.” It’s not a blind pool. I don’t think anyone would be that trusting with it. But being able to see like, “All right, here’s what the portfolio looks like.” Map of the country where the different territories are. Understand the unit economics of the franchises.
Yeah, so to start off, it’s a diversified portfolio approach. Eventually, you’ll pick specific brands. And then even more specifically, eventually, I want it to be like, “I’m just going to invest in that one down the street,” and you scan a QR code and invest the money in that location you’ve been going to for years.
Dan Claps:
And just to be clear, so think of a private equity fund. You invest into the fund, and then they deploy that capital. In this case, similar. They’re investing into an aggregate fund, and then it’s deployed.
Kenny Rose:
Yeah.
Dan Claps:
So they invest that money. And then my other question, sorry, is… So unique. Where does the operator come into play? You approach a brand, you say, “Hey, we’ve got this investment pooled from our team of investors.” How does the business get operated?
Kenny Rose:
Yeah, so there’s three different ways and it really depends on the type of portfolio that we’re doing. So for example, the current one that we do, we establish our own operations. So we look for more semi-absentee models that are easier to build infrastructure for, or outsource to other types of operators, like Restaurant Sherpas.
Another way that we’ll do it is funding existing operators. So maybe they already have anywhere from 10 to a couple hundred locations. They want to go acquire more. Then you can be the funding partner for their rollout strategy and to acquire other locations.
Eventually, we’ll have… I guess there’s four total, because there’s also working directly with the franchisors, where they’ve got these great operators, but they don’t have the money. Or maybe they had enough money for three, but really, they’re killing it with three, they should have 10. We can be that funding partner that helps connect them with capital. And it’s not at crazy high interest rates, but instead, having equity partners involved.
Then also ones that compared to just getting a loan, we’ve got money that’s from people in the community. They’re going to support your business.
And then finally, eventually we’ll have the individual, “I want to be a franchisee. I’ll put myself out there on the platform,” and then we connect you with investors.
Christian Dadulak:
That’s fantastic. So there’s a lot of different ways to secure funding. So it sounds like you can work directly with existing franchisees, and then sometimes you’ll partner with the franchises directly, assuming that it’s more of a semi-absentee model. Then you can build that infrastructure out. And then down the road, it sounds like the vision is, “We’d like to be able to help some of those would-be entrepreneurs secure funding so that they can open up their locations,” and like you said, be their funding partner, and then they’ll be the operating partner.
Kenny Rose:
Exactly. It’s the marketplace for being a franchisee. Really-
Christian Dadulak:
Man, I love that.
Kenny Rose:
… being an entrepreneur, a lot of people have these ideas of like, “I want to create a startup,” this, that and the other, but they don’t have that unique idea. Especially for people who’ve been investing in franchising with us over the years, they’ll be like, “Hey, well, do you want to leave your job? And we’ve literally got thousands of types of franchises we can connect you to and then fund with the crowd.”
And then there’s some where like, “Okay, now I get it more.” It’s like, “I can connect with something…” They’ve never heard that waste management was a franchise before. All of a sudden, it’s like, “I’m getting it a little more.” So keep doing that over the years, then they’ve got that chance to make the leap out of corporate and have all these resources available for them.
Christian Dadulak:
I love it, man. Couple of last quick questions then. So what type of investor is this for? Because obviously, with any investment, different investors have different goals, different objectives. So naturally, that comes with different types of things that they’re looking to invest in. And obviously, we’re not going to endorse anything, of course, but we want to make sure that there’s an opportunity for them to hear about this. Talk to your tax advisor, financial planner, all that sort of thing. But-
Kenny Rose:
There you go.
Christian Dadulak:
… having made that disclaimer, who would you say is the ideal investor for FranShares?
Kenny Rose:
I kind of connect this back to the Merrill Lynch days, where it’s people in the past who were accredited investors, the ultra high net worth, they had access to specific products that other people didn’t. So we would tell people like, “Hey, you should have like 20% to 30% of your portfolio in alternative investments.” But now with all the recent legislation changes, everyone can do that. So really, everyone should start doing this 20% or 30% into alternative investments.
So when you think about that, you can spread it across different ways from real estate, artwork, franchising. So honestly, I think it’s good for any type of investor who’s looking for a long-term investment. And especially when they see that business ownership is something that can really contribute, especially if they want passive income. The big things I know people have been loving out of this is they like diversification, they like passive income. They like hedging against inflation, especially. So that’s why it’s not good for your Davey Day Trader type, nor anyone who’s looking to flip a quick buck or they’re looking for the next crypto coin, going to the moon. It’s not that type of sky high, crazy thing. It’s a great investment, but it’s not lottery tickets here. We take method.
Dan Claps:
I use Titan. Titan Invest, which is a robo-advisor. I look at it as like they say that it’s crazy returns. I have some money in there and it’s a better return than a lot of other investments, but I’m not looking at it as my way to retire. Unless you put more money in. Maybe some of your clients are doing that, putting in more and more money. But if you want an insane return, go buy a lottery ticket or invest in a business fully.
Kenny Rose:
Yeah. Especially a lot of people have been saying, “Why don’t I just go into crypto?” I’m like, “That’s your choice.”
Dan Claps:
Yeah. Well, that must be great for you now.
Kenny Rose:
Yeah. Honestly, it is a great time to be launching this. Minus people are just scared of everything, but if you are looking to do anything, it’s like, “Great, the markets are screwed, crypto’s blown up. What actually just makes sense?” And it’s like, “Okay, those are quick service Asian places. That’s waste management. I get that.” I think people want something more tangible that just makes sense.
Christian Dadulak:
I agree a hundred percent. So it sounds like you’re locking up liquidity a little bit, of course. And it sounds like it’s a really big cashflow play. I’m sure there’s capital appreciation there. I mean, is there any intention at any point to sell any of these franchise locations, get a nice exit?
Kenny Rose:
Yeah, so each portfolio will obviously have very different circumstances to them. Some of them will be continuous income ones. Okay, we’re going to buy it and just keep it indefinitely. The one like we currently have is more of a growth and equity one. So we want a combination of you’re getting cashflow from it and eventually sell it off to a private equity group, for example.
If you’ve got 20 plus locations, they tend to snap that up immediately. And they can also pay more than your typical buyer. So yeah, we want people to have a combination of the both, but each fund’s going to be very different. We realize we kind of can create all sorts of different financial instruments out of this, so we want to be able to offer all those different ones.
Christian Dadulak:
It’s amazing. So the investor can tailor… Well, you’re tailoring the investments based off different types of investors and their needs. So the investor almost can a la carte say, “Okay, this really meets my objectives. Maybe this fund doesn’t or this portfolio doesn’t.” So they can almost choose from that menu of different items. So I think-
Kenny Rose:
Exactly.
Christian Dadulak:
… that’s awesome. That makes sense.
Kenny Rose:
Yeah, yeah. We want to have a lot of different options. Same thing like different risk levels. Are they a newer franchisor? Are they more well established? If they’re well established, there’s obviously going to be less returns, but less risk. So there’s a lot of ways to just have a whole balanced portfolio from the franchise market.
Christian Dadulak:
I love it, man. Last thing I wanted to ask was what kind of minimums? At least at this point. I’m sure down the road, it’ll be more democratized and open to more types of investors, but at this point.
Kenny Rose:
It’s already democratized. Honestly, I’ve been saying since put out the first landing page, that it was going to be a $500 minimum. And even for this one with the accredited investors, it’s a $500 minimum.
Christian Dadulak:
Wow.
Kenny Rose:
Someone actually took us up on that, which I was surprised. But now the range of investments of orders right now is like 500 bucks up to a million. So it’s all sorts of people across the spectrum.
Dan Claps:
Excellent. Well, how can people get in touch with you?
Kenny Rose:
Well, I’d say there’s two main ways. One, LinkedIn. I love being on there and definitely have a great following on there. I love to chat with people on there. So LinkedIn. Or if you also check out FranShares.com, you can always join our waitlist. Whether it’s you’re accredited and you want to check out the current offering or you want to be ready for the future one, there’s 37,000, but we’ll intend to get every one of them on board.
Christian Dadulak:
I love it, man. Well, thanks so much, Kenny, for coming on. What you’re doing with FranShares is obviously incredible, unique, very special within the industry, and really helping to elevate the industry as a whole. So thanks for what you do. Congrats on the success so far, and really excited to see what comes from it moving forward.
But having said that, thanks to everyone for hopping on to another episode of the Franchise Founders podcast. If you enjoyed this episode, like, subscribe, share, leave us an honest review, tell your friends about it. We appreciate it. We’ll see you on the next episode.
Kenny Rose:
Thanks for having me.
Dan Claps:
Thanks for listening to this episode of the Franchise Founders podcast.
Christian Dadulak:
If you want our help with anything from buying a franchise to franchising your business to anything in between, shoot us an email at franchisefounders@gmail.com.
