4.6 • 683 Ratings
🗓️ 1 April 2020
⏱️ 21 minutes
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As a serial entrepreneur, I live and breathe franchising. He has started several local and national successful businesses in the technology, rental, service, e-commerce and retail markets which have generated hundreds of millions in sales. Steve identifies the creation of Bpro as the main contributing factor to his success in franchising his businesses.
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0:00.0 | company is called, again, better software, really software to help you run your franchise more |
0:03.8 | effectively. Steve's been in the business for decades, built the software for himself to start. |
0:07.6 | Now, 4,000 locations using him paying 100 bucks a month, north of 400 grand per month in revenue, |
0:12.2 | up about 50% year over a year from 300 grand a month just about a year ago when he bought the company back. |
0:15.9 | 1.2 million raised. And in terms of churn in economics, 3.2% monthly churn expansion on the bigger |
0:21.9 | cohort, it's about 20% year every year. CAC has spent about 300 bucks to get a new location. |
0:26.1 | So a three-month payback period as they look to scale. |
0:30.2 | Hello, everybody. My guest today is Steve Cody. He is a serial entrepreneur. He lives and |
0:34.2 | breathes franchising. He started several local and national successful businesses in the technology, rental, service, e-commerce and retail markets, which have generated hundreds of millions in sales. He identifies the creation of B-Pro, which is, again, better software as the main contributing factor to his success in franchising his businesses. Steve, are you ready to take us to the top? |
0:52.5 | Absolutely. All right. When I hear franchises and I hear process, I think engineering. Do you have an engineering background? |
0:59.3 | No, no. Actually, uh, left school in, uh, in grade 10, uh, was very dyslexic. My grandfather |
1:06.0 | had saved $1,200. So I used that money and I bought a, uh, a ladder, a squeegee in a bucket and |
1:10.7 | started a window cleaning company. Interesting. And, uh that money and I bought a ladder, a squeegee in a bucket and started a window |
1:11.2 | cleaning company. Interesting. And how about I do? Oh, really well. So it's still around today. |
1:17.1 | It's been through two different owners. We ended up being the largest in our city. |
1:21.9 | Move from that, got into swing stage rentals. Then we opened up a scaffolding rental company. |
1:29.1 | Then we became a JLG dealer, a lift company, sold that to Hertz. What year was that? That had been 20 years ago. |
1:38.7 | Yeah, it had been a while ago. So that's kind of when the kind of, when all the different rental |
1:43.4 | companies started |
1:44.3 | merging. We sold our lift company and our Bobcat dealership to Hertz, took a year off, |
1:51.8 | got into the party rental business. My mom was getting married. Sorry, Steve. What was the sale price |
1:55.8 | on that? |
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