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Buying a Franchise that Suits Your Lifestyle with Rick Day

Franchise Euphoria Podcast

Rick Day is an entrepreneur from San Diego, CA. After getting out of the NAVY in 1985, he put himself through college at San Diego State University and soon thereafter founded a telecom firm which he grew over 17 years. After selling his company in 2009, Rick has invested and has an active management hand in a boat dealership, a finance brokerage company, and with two other partners. Furthermore, he owns five Phenix Salon Suites franchise locations.

 

Key Takeaways:

[0:22] Today’s episode of Franchise Euphoria is brought to you by The Franchise 5 package. Head over to franchiseeuphoria.com/franchise5 to learn more!

[1:01] Rick Day is a coach and operational executive who strives to turn entrepreneurs into CEOs. Additionally, he is a multi-unit franchisee for Phoenix Salon Suites.

[2:25] Josh welcomes Rick back to the show. Click here to listen to Rick’s first appearance on Franchise Euphoria.

[4:07] Rick’s first venture into entrepreneurialism was at an auto business to help him work his way through college.

[6:04] The Phenix Salon Suites is a concept that was developed in Colorado Springs that revolves around giving salon professionals their own space where they get to set their own hours, keep all their revenue, and maintain their environment.

[7:49] Rick’s role within this system is more on the backend of the business with cash-flow management, book keeping, and operational arrangements.

[10:13] The renovations for a Phenix Salon Suite are quite extensive and require a specific buildout to make the most out of a space while also making it a unique and individualized spot.

[15:30] While Rick never saw himself as a salon guru, he began looking into the opportunity with Phenix and he saw opportunity to apply his entrepreneurial spirit from previous experiences to this niche franchise system.

[18:13] At each site, they have a manager to help with the onsite help and managing the tenants of each suite so that Rick doesn’t have to maintain presence at each of his five locations.

[21:07] The great thing about this business model is that even if the economy does slow down, people still will need to get their hair done, nails done, and other assorted body treatments. The industry is very elastic in that sense.

[24:31] Rick didn’t go through an extensive process before buying into Phenix; he did a few site inspections at other locations to be sure the quality was up to par and talked with some of the tenants to be sure this was a concept they loved. He eventually saw the unique opportunity it presented and decided to take the plunge.

[26:18] Rick enjoys the aspect of franchising where if your build your business enough, eventually it will start to run on its own.

[29:41] If you want to learn more about the Phenix Salon Suites franchise system, www.phenixsalonsuites.com.

[30:52] Thanks for listening, and please, reach out to Josh anytime through email at josh@franchiseeuphoria.com. If you enjoyed this interview, please leave us a review on iTunes.

 

Mentioned in This Episode:

josh@franchiseeuphoria.com

www.franchiseeuphoria.com

www.franchiseeuphoria.com/franchise5

www.businessbyday.com

https://www.facebook.com/businessbyday/

www.scyachts.com

www.phenixsalonsuites.com

www.franchiseeuphoria.com/systems-with-rick-day/

Josh Brown

Josh Brown

Hi! I’m Josh Brown, franchise attorney and creator of the Franchise Euphoria podcast. I’m just your average guy who loves to golf, eat hibachi, and immerse myself in the ever-expanding franchise world.

My goal is to navigate entrepreneurs and all people interested in the current events of franchises through all the hottest topics and most popular tools for success. Going on four years now, Franchise Euphoria is hotter than ever and ready to help you plan and execute a pathway to success.

Josh Brown

Josh Brown

Hi! I’m Josh Brown, franchise attorney and creator of the Franchise Euphoria podcast. I’m just your average guy who loves to golf, eat hibachi, and immerse myself in the ever-expanding franchise world.

My goal is to navigate entrepreneurs and all people interested in the current events of franchises through all the hottest topics and most popular tools for success. Going on four years now, Franchise Euphoria is hotter than ever and ready to help you plan and execute a pathway to success.

pardee2003 from United States
11/16/2019
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Great and applicable information from professionals in the franchise world that are doing it every day. I’ve listened to 3 episodes: Gutter Brothers, Woofies, and Cycle Bar. Enjoyed all and looking forward to hearing more.
WTutor311 from United States
8/30/2019
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Highly recommend. Great guests. Filled with tons of helpful information.
Katie Joy B. from United States
7/16/2019
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Josh and his wide variety of knowledgeable guests are truly rockstars! They deliver quality (and free!) franchise knowledge and advice in each and every episode. The great advice they provide, combined with the engaging way they deliver it had me hooked from the very first listen. Thanks for putting out such a stellar show Josh - keep up the great work!
Jordan gross from United States
07/15/2019
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This podcast provides the advice necessary to start building, growing, and scaling your business TODAY! The host asks probing questions of his guests that add value to the listeners in an immediately implementable way!
VPugliese from United States
07/15/2019
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What do you get when you combine business savvy, legal expertice and a great personality? You get the ultimate podcast for franchise owners. Josh Brown brings it all togehter perfectly with Franchise Euphoria. Not only does he possess all of the skills and abiliites above, but he has great guests, asks awesome questions and created the ideal podcast for this niche. If you have a franchise, or are considering it, subscibe to this show and consume all of the content!
Mick James from United States
06/05/2019
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Started listening to Josh's podcast after the wife and I decided to buy a franchise and I quickly went through about 200 episodes on 1.5x & 2x, before signing on to purchase a franchise. Josh's info was an invaluable part of our decision to buy, and after listening to so many episodes, I felt like I knew and trusted him on a personal level, so it was a no-brainer to enlist his services when it came time to review the franchise agreement. Josh was super easy to talk to and very empathetic to our needs, and being first time business owners, we needed all the empathy we could get. Josh helped us negotiate a great deal with the franchisor and we were very happy with his services. Great podcast, great guy, great service to anyone involved in the franchise world!
Dean575 from United States
06/04/2019
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Very interesting discussion. I found the information valuable.
Summieysum from United States
05/06/2019
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I've just completed the legal process of franchising my business and have now begun selling franchises. Just found this podcast and it's an incredible resource! Great content and Josh is a very engaging host. Highly recommend for franchisors and franchisees.
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