Ricardo Matos was born and raised on the island of Puerto Rico and to an entrepreneur father working in the furniture wholesale business. He was destined for greatness as a child at a young age, he learned the importance of establishing a foundation of success. Successful business in the tools and attitude necessary to help any business succeed is entrepreneur spirit was passed down from generation to generation to become the impulse which drove him. He created his first business at the age of 12. A paper route that quickly grew from 25 subscribers to 535 in less than eight months, and no doubt became the newspaper reporter of the year. He offers a host of wealth to all of his clients he serves. He’s the founder of Saiter Real Solutions Franchise.
Ricardo Matos’ background is in business development, do a lot of statistical quantification analysis, reverse accounting engineer for the oil and gas industry in many other different business entities, he started at a very young age and intrapreneurial mind helping people expand their knowledge and wisdom due to the fact that his dad was with an intrapreneur as a business go-getter. His dad always encouraged him to move forward in life by thinking outside the box and not within the box. Before even the box terminology even existed. He basically followed his dad’s path.
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Determine if Franchising your Business Makes Sense with Ricardo Matos
Brett:
I am ecstatic about our next guest. He was born and raised on the island of Puerto Rico and to an entrepreneur father working in the furniture wholesale business. He was destined for greatness as a child at a young age, he learned the importance of establishing a foundation of success. Successful business in the tools and attitude necessary to help any business succeed is entrepreneur spirit was passed down from generation to become the impulse which drove him. He created his first business at the age of 12. A paper route that quickly grew from 25 subscribers to 535 in less than eight months, and no doubt became the newspaper reporter of the year. From that driving determination and the insight he has executed develop many emerging businesses and strategies not only in the oil and gas world but also in the expanding and developing landscape of French cheese or and franchise eat, now offering tools, classes, and motivational resources to bring any potential client to his or her best in the franchising world. He offers a host of wealth to all of his clients he serves. He’s the founder of Saiter Real Solutions Franchise and he’s gonna give us a lot of wisdom here today. Please welcome the show with me, Ricardo Matos. Hey, Ricardo, how are you doing today?
Ricardo:
Good. Hi, I’m doing great, Brett, how are you?
Brett:
A better than I deserve. I’m excited to have you on the show and to share your story and to get to know you a little bit here with my audience along the way. First question, would you give our listeners a little bit more about your background and your current focus?
Ricardo:
So basically, my background is in business development, do a lot of statistical quantification analysis, reverse accounting engineer for the oil and gas industry in many other different business entities, I started at a very young age and intrapreneurial mind helping people expand their knowledge and wisdom due to the fact that my dad was with an intrapreneur as a business go-getter. A person who is the drive for success no matter what. And he always encouraged me to move forward in life by thinking outside the box and not within the box. Before even the box terminology even existed. That’s basically I followed my dad’s path. And when I created the state a real solution, I did it in memory of my grandfather’s family. Name, which comes all the way from Germany, back in the days and gives a tribute to my mother for the name of my company, say their real solution. And my background is more of an idea of helping people to strive forward, helping people to understand the methodology of what it takes to own a business, and finding out understanding and making the right decision when you get to own a franchise. And then we do all the backtracking on all the reverse accounting engineering or the study of the numbers from one franchise to another. I have always said that no one franchise is created equal and not all equal franchises are equally profitable. And what do I mean by that? I give a good example of blockbuster, a great friend of mine who created this particular franchise, you can have three blockbusters in one particular area in a city and one can be very powerful and the other one not. So what do you keep running it until you go into the ground, or you close it? So all those things were some of the things that we emphasize while awaiting the numbers for any of our clients before they jump into owning a particular franchise.
Brett:
Amazing. Yeah, sorry, good.
Ricardo:
So just not used to make the long story short, it is all about analyzing and making sure that isn’t the way your client can actually have the right information to make the decision when acquiring or attaining a particular franchise. Due to the fact that narrow franchises are bought, they’re actually awarded. The meaning that you want to own a franchise does not necessarily mean that you’re going to be able to own it unless otherwise is awarded to you. That is a misconception of people that you can buy. Let’s say you want to buy a chick fil, you can get 1000 people to apply it to chick fil every year. How did they get awarded probably three or four a year? That’s the body. Right? They’re awarded, they’re not bought. So we want to make sure that you get qualified for that.
Brett:
Excellent. Yeah, we’ll dive into that here a little bit, a little bit more. And that’s a really amazing story. And I love the background of the journey here and your passion for helping people To determine if franchising their business makes sense or going into a franchise makes sense for which we’re going to dive in. But before we go there, I want to take one step back, and I want to go back to even they didn’t even have the 12-year-old days when you start the paper out, or maybe it was the university days, or maybe it was when you were a younger, a younger version, a younger self. Right? And this is the question, um, you know, I believe we’ve all been given certain gifts. And these gifts were given to us to be a blessing for others. Some people call them superpowers, some people call them strengths, I believe their God-given gifts, and I believe these gifts were given to us to be a blessing and a help to others. So I’m curious, Ricardo, what is that one or two gifts that you maybe you believe you are given? And how do those help how you help and bless people today.
Ricardo:
So I believe I am a positive, motivated, enthusiastic individual who likes to enjoy the ability to help others, right. And I think my gift is to help people understand and be transparent that all the information given is accurate. And that is actually a real fact. And people can actually check upon it. And the good thing is that when I speak to people who want to give that I actually do, I’m fully transparent. And it’s so hard these days that we are living in it with so many nontransparent individuals or entities or companies or, or information. I know how to disseminate the information to accurately figure out transparency, from numbers from people’s hide, you call it the introduction of things, right. So I believe that’s one of my years.
Brett:
That’s a great gift. And was it a gift of numbers and at a young age that you just kind of saw them and understood them? And it worked? Well, walk us through that?
Ricardo:
Yeah. Well, I think numbers for me was an easy path. I enjoy numbers from the get-go. And then very young age, just because I was always dealing with money, right? I when I started my paper route, the way I looked at it was there, the newspaper sold for 25 cents, right? But I got paid 11 cents. So I would do the math, right? Okay, wait a minute, 11 cents for every newspaper I’m delivering. I started in the round with 25. We didn’t what happened if I increase it? Let me increase the numbers, right? So I grew with that stimulus of those numbers and looking at the numbers that are going to make profitability out of it, right. And it got to a point where he said, Wait a minute, I asked my manager that time, either What do I need to do to increase the size of my route? Can I have pain with a route? He said, Well, you got to find some script subscribers. He says, How do you get subscribers? Well, they usually our company does all the marketing and the people who attain or they don’t do that, well, guess what I reinvented that wheel, I went from door to door, asked if he wanted to join my route. Because back in the day, they were it was not in person to person door to door, it was where a person will actually be called in the newspaper, and they will request to be delivered up to their house. And they will attach that to a particular route in the area where it was delivering those papers, right? So I needed to be simplified. Because I had 25 newspapers, they were all over the place within my neighborhood. And it was a pain. So I created my own route and a path and a methodology in a way mathematically that if I can streamline the delivery of the newspaper from house to house, it would have been more efficient for me to do this way. I created such a methodology that when I got it to 565 newspaper, and after nine months of doing that, versus they could not have one person doing the route they were I was doing it. So that route ended up being broken out in like 15 different people to deliver young kids to do so. So yes, I have always found ways of how to streamline methodology because it comes naturally to me, by using numbers, right? numbers are the key for any business to strive forward. For any entity that you want to create, even from spending from buying and for maintaining, right, the cost of acquisition of a client that cost of acquisition or business. Do you see what I’m saying? They the entity or the profitability of a business to take place, those numbers come naturally to me. What do you need to do in order for that business to strive that you’ve got to be proper for you that the number is going to make sense? I have had people tell me Oh, yeah, my business makes money. He says, Oh, really how much money how much money you make for global acquisition. And as I look at the expenses, they’re spending $20 to make five bucks. Is that making money? No, that’s basically one-quarter of what they’re actually spending on the right, or I should say 1/3. Because if you’re spending $75 on 100 bucks, and you’re only making 25, it’s covering the three to one, whereas it should be the 123 for example, that means you’re spending $3 for every dollar you make. So that aspect of those numbers is crucial in any business evaluation, from the beginning to the end.
Brett:
Beautiful well, so much there. And amazing. So we’re gonna dive into that exactly and apply that to determine if franchising your business makes sense. And it sounds like the first thing, the most important thing is obviously, knowing your numbers and understanding your numbers and looking for those ratios. And if I heard you correctly, you’re saying for every dollar, you’re spinning an expense, right? Each hopefully should be as much or more than $3. In return, is that a fair summary?
Ricardo:
So for every dollar, you spend, you want to get over 100%. So that means if I get $1, on my investment back, that’s 100%. But if I get two, it’s 200%. probability, the idea is to be 23456 700% profitability and your total expenditure, right? Most people don’t know this, but I’m originally became profitable due to the pandemic, right, that did not have to get paid. Why did they mean by originally became profitable, because they always had more expensive than the money they’re selling, right? They were striving forward, they were invested. Were relieving the business entity. So it just it is what it is, right? It just has to make it possible where your money’s always working for you. You’re not working for your money.
Brett:
Yeah, it makes perfect sense. So let’s dive right into that. So then what’s maybe the three secrets to determining if your franchise if franchising your business makes sense, it’d be those ratios when you’re looking at those numbers, and you’re seeing it you know, what those are? That would be the first step right, but maybe there’s a step prior to that. What’s the step prior to that? To understand if it makes sense?
Ricardo:
Yeah, the first step evaluating the existing business model if it isn’t working existing model if the business and it working as you’re improving model that it makes profitability over a period of time we look at the numbers and the, By the way, the number how the money is being evaluated, how many streams of income they’re getting from that business that allows it to create a well to be able to see how you can create a world it’s fun, right? Why because not all businesses can be considered to be franchise or franchisee model due to the fact that depending upon how many streams of income they currently have within that particular business. So that analyte analysis is crucial and important to understand that that that business can be a franchise, if we cannot franchise that business, what good is it to spend the money and bribe the franchisor? Basically, they cannot be models.
Determine if franchising your business makes sense: “The secret of getting ahead is getting started.” Mark Twain
Brett:
I’m hearing you correctly. You’re saying hey, how many streams of income is business produce? Oh, excuse a blockbuster model, right? Of course, they’re renting the movies. But then they have the popcorn there. Right? And then they have maybe the merchandise.
Ricardo:
So much merchandising? Yes.
Brett:
And then or even what they say like What is it? What is it? It’s a McDonald’s right they’re really making the money on the fries and the coke their lot they’re losing on the burger. Right? But then maybe they have other revenue streams. So maybe give us I mean that the restaurant wants me the easiest one. But let’s focus on maybe real estate businesses that are franchise or even real estate brokerages that are franchised or financial advising companies that are franchises for the professional business service, Ricardo, what would be the multiple streams of income that you’d be looking for?
Ricardo:
So it all depends on the type of business that exists, right? So if you tell me that you are a dentist and you only have the dental cleaning, and that’s one stream of income, right but let’s say, for example, you do dental bleach as a second stream of income, but let’s say the on that now you have to do crown right installations in all dentists may not necessarily be qualified to be four crowns, or even to manufacture the crown to be installed they have to suck the system how to someone else so they can make some profitability from that right? It’s just a matter of the business entity that we can only emphasize what they’re actually creating within their business model they can create multiple streams of income to create royalties from it.
Brett:
That makes perfect sense. Okay, so that’s step one, determining you know, the multiple streams of income and then as well determining the expense that you’re spending versus the return on your investment right your business what would be the next step?
Ricardo:
So many pieces, you’re creating multiple streams, is analyzing those streams and how royalties are going to be brown between those streams of income for the benefit of the franchise owner franchisee and a lot of times people want to do it on the growth and not in the net. Right? Why do I mean by the growth on the net? I love that franchise so they want to benefit from the growth and I don’t find it fair to benefit from the growth due to the fact that that franchise model they do have expenses across the board from the day-by-day operation. So if you are the franchise or benefiting from the growth of each franchisee instead of the net after taxes and total expenses that will levy your entity I think is even more beneficial not only for the franchisee but also for the franchise owner. Right. That is one of the crucial problems that I come We see in a lot of huge, big franchises that they have done so big, it’s because they’re benefiting from the franchise ORS growth of business because they have built that brand, right? Which, yes, the franchisee still making money, but they’re not making it at a higher rate of return. That’s why the franchise stores growing so much faster, right? Because they’re benefiting from the growth of these individual franchisee sales.
Brett:
Tax. Okay, so now let’s get real practical. So I want to talk about actual people that you’ve had maybe a success story, let’s do one success story. And then let’s do one train wreck, right? And walk us through kind of this case study of why it was successful, right? And why it worked out what the individual did to make it a success to follow the things that you would probably layout for them, right? And then let’s do the train wreck or somebody just went off on their own and didn’t do that. Do you want to share a few case studies if that’s okay?
Ricardo:
Yeah, sure. Um, okay. Let’s give you a good example. I haven’t gotten people that have come to me who wants to own a franchise? And they say, Okay, great. Oh, yeah. But I don’t want to use a broker. Oh, no, I don’t want to use a third-party individual. You’re welcome to contact the franchise war and do all the negotiation. And if anything, you do it at your own risk. But since you are a so-called expert at analyzing all the numbers, go for it. I have no problem with that. So a lot of times, then they come back to us and they say, Oh, yeah, we should contact you before because we bought into this franchisee-franchisor. And now we find out the franchisor is not giving us any of their information, we analyze the financial disclosure documents, and now we realize that those numbers are not as accurate as they said they were they said they have 100 members for their franchise or the franchisee just put your document only stay five that as a rock star, what about the other ones? So all that stuff, and now is going to place right. So what happened is that they think people are invincible, and they people think that they know everything about everything in business. But then probably the biggest they probably own at one point or another one franchise, franchise change in the models change over time. And one of the downfalls of people is they think they can do it all themselves. And this is where we come in, to help them to walk them from A to C in the process that will allow them to understand that every single methodology in this process of step, has an order for a reason. It’s because we want to make sure that you are fully aware that when you make the decision on buying a business, you are doing the right choice and decision on how to acquire that business. Because he from A to Z, when you hit the DA, does not match what your requirements and needs are, is the perfect time for you to move on to evaluate some other business entities that because it may not necessarily be tailored for you, you got to understand most people who want to buy a franchise, a lot of times they come directly from the background of that business entity they have established in their life. They say you’re a hairstylist, look for a particular hairstyle, a salon, now you’ve got a business, the owner, the hairstylist, you will know what to look for in the business model. But let’s say, for example, you get into the business that is not necessarily related to hairstylist, but you jump in another completely different flipping burgers, running a restaurant, but you don’t know anything about that business and you jump in that bag when thinking there’s gonna be very profitable because you heard somebody tell you that this isn’t going to be very profitable. Guess what, if you don’t have the training, the expertise on the go how you know what to do next, that happens more often than not.
Brett:
Yes, so much there to unpack, but the heart of what I heard here was higher the who don’t be the how. And this is something I struggle with all the time, right. And I imagine all of our listeners who are very successful and have done really well and may have owned a business or a franchise or piece of real estate and they’ve done very well and financially and now they’re looking to do something and they’re like I can tackle that I can figure that out. I can negotiate on my behalf but there are so many nuances to every single deal that are different even business models. So you want someone like Ricardo, who’s I don’t know probably analyze 1000s of deals and help hundreds and hundreds and hundreds of people do it correctly. So hire the who don’t be the how and then really come at it with humility, right? Is that a fair summary?
Ricardo:
That is exactly one of the things that I emphasize. And people ask me about who’s in the house all the time and you don’t know how to do about something just fine because your house finally who would you does and how it will tell you how to go about doing so.
Brett:
Beautiful. All right. So you gave us kind of the big picture there. So are there any maybe a recent case study cuz I know sometimes this case studies can be there are so many deals but is there something where like this person did it right? They give us your success. One of the best deals you’ve had for transformation for somebody when they work with you?
Ricardo:
Ricardo Well, when people work with us, and one of the ends of the deal is that they streamline their process and the methodology, they will take him by the hand. We’re now or every single burden in between that are coming from the generation of the art of business is that there we try to tell them to invest in a downtrend, right because business cycle that is two or three months, two or three months, right. And when you’re establishing your vision is bouncing between when the economy’s going chaotic aspect, right now, they say right now, pandemic. People need to jump in on the downswing because everything is uncertain, right? This is the time you invest, right, there’s a woman in Hollywood, her band is now free because it’s cyclical every three or four months with this change in gradual growth. So if you invest now, when if the downswing you’re going to be pair your business model to be in place, and everything needed to get placed ABCDE to connect it, because there are charges and costs on investment that you need to put in. So when you start going to the absolute because now your business is ready to kick off and moving. Guess what, now you’re in the upswing. Now you’re making money from the upswing change of the economy. That’s one of the key success for any people in jumping in the business. Do not jump in business when you are on the plane. Because by the time you set it up two to three months, you’re going to be in the downswing. But you’re going to lose money, because I’m not making any money, but all this money, and I’m not making the money. Well listen, it’s about a structure of time, and time will actually tell you when the probabilities want to take place. That’s why we analyze the market. This is how we allow eyes the industry, this is where we have analyzed the type of business and in place delays when they’re taking into effect. If you want to buy not one territory, but 610 territories, you’re making that wise decision to make those activities of business growth, we have one particular client who wants to open X, Y, and Z particular franchise in the Dallas area, but you want to open 10 units. But instead, there was only availability for 502 want to jump into the bandwagon and do that five because she wanted 10 guess what, you don’t have to do all 10 entities at one time, you got to dramatically grow, gradually increased them over time. And because they follow our process, they were able to integrate those entities according to the very profitable path that we not only we found all the locations that she wanted within that particular area for this five in that one to get territory, but then we were able to find the other five appear of time that we were able to grow dramatically increase gradually within that particular brand.
Brett:
I do see what you’re saying and I think one of the things I catch there is don’t let the emotions drown out the numbers. Don’t let your site ration, I don’t think excitement or instead again, hire the who don’t be the how right get with somebody who can actually help you understand those numbers understand the macroeconomics of that industry, of the microeconomics of those exact locations and where they’re at right and what to open instead of doing that. 10 do five and don’t let your emotions get in the way. That being said, Ricardo, if someone wants to take a couple of steps to work with you, what’s the what’s the first question that you would want to ask potential clients of yours?
Ricardo:
You know, the first question they always ask to ask is what industry they want to be involved with? Right? Do they read something related to their niche of industry where they have expertise? Or is it a niche or industry that is completely away from the entity of the business, they know how to go about doing, right, why there’s a learning curve, and that we actually do and there’s a learning curve or anything that you actually do as business progress or you want to interview emphasize your knowledge and wisdom and ability on another business. So I think training takes time it takes patience, you know, people think they’re going to make it rich. overnight. It does not work that way. business entities gradually increase people. One of the biggest questions people ask me is when would I get a return on my investment? Listen, if I had a magic wand to tell you how fast you’re going to get your money, guess what? It’s all about you as an individual, how you’re going to run your business and your business to be profitable. Why do I say that? Like I said earlier, not all businesses are created equal. And not all franchises are created equal and not all equal franchises are equally profitable, right? You may have to location, one great location in one particular place with a very crappy manager who does not know how to run the business. But he’s making they’ve been successful. And then you have another one where it’s a particular franchise in a very bad location but a great manager who’s making it in that particular business. A rock star Yes. Always digging the more emphasis to create more wealth. But because he’s a great manager, he’s making it to become very effective. That’s all it takes. It takes training and takes time to guide you into that path of perfection to make sure you’re making the right decision that makes sure that your business is striving for success. By connecting with us, we’re helping you along the way. And every aspect, whatever they franchise or do not give you, we assist you. And the good thing is that all of our consultants are complimentary. In addition to that, I give to all my members or become part of our network. Give them free tools, and how the marketing and how to emphasize different methodologies, how to connect with LinkedIn and take LinkedIn to your next level, and so on.
Brett:
Excellent, thank you for sharing that. And one last question before we go to the lightning round. And that’s really the episode title, which is determining if your business is worth franchising and rotating to the next level. So speak now not so much for the person just starting out. But the person maybe has an established real estate company, or a real estate brokerage or a car dealership business, or a dental practice, right? A veterinarian practice, like, what would be the first question to ask that you would want to know if it’s worth franchises in taking to take it to the next level here?
Ricardo:
Well, then they have a business model, and they want to grow their business model to a franchise model. franchise models and no this tragedy of growing your business and your practice or your entity or your business entity, like right, one of the clear meaning of expectation is that they need to have, this does not happen overnight. Okay, turning a business model into a franchise model of dates from five to eight months, depending upon the areas and location that they want to grow. Right, I can tell you this, we can start with one state, making profitability and building that existing model within that state, creating territory creating a brand within that territory three to five entity, the beauty that takes from three to five monsters data establishing that methodology, if you think about turning a business into a franchise model is that you don’t have to spend 1000s and 1000s and 1000s of dollars right off the bat, you dramatically increased your expenditure within that business model. Along the way, there are certain minimum requirements amount of money that it costs to establish a particular franchise business model or franchise business model. Why because we have to get registration, we have to get financial disclosure documents, we have to start entity investigating the numbers and thinking it in the doing the analysis of your business entities and going from there forward. So all I got to tell you is in relation to that business creation is Time, time, and patience to turn your business that is a proven model into a profitable model. So the other entities we jump along the way your business can actually be equally or otherwise your business model is for you. But for other people too, right? Because if you’re going to charge 234 or 5% royalty, every month for them, are you going to get the first year free royalty, because you’re proving their model if your model is that proves that good have a benefit that is an entity that is going to benefit you for them. Due to the pandemic, a lot of companies who had certain royalties entities gave so many royalty-free for three or four or five months. This is why a lot of the franchise ORS was able to grow so fast because they were dreaming not one, not two, not three, but six, seven months, free of royalty-free so they can build that entity. When you start a new business. You don’t want to get into too many recurring charges of business entities or services that you need to integrate within your business. Because otherwise you are spending money on money out and no money’s coming in, in in. The goal here is to make sure that you spend the necessary amount of money for the basics you’re going to establish and not doing sure certain charges or expenses along the way. They don’t want to be bringing you any benefit or value to your business right off the beginning of the start. So the idea is to get money in before money started going out. Yeah, there’s going to be an initial amount of money that you expend on any business at the beginning. But the idea is to stay within that bracket they actually want to start coming in they’re going to start going down there now your expenses your profitability over here is increasing higher than you actually expenses which goes like this.
Brett:
And we’re running out of time now. So you ready for the lightning round?
Ricardo:
Sure. Let’s do it.
Brett:
Alright, so knowing what you know now if you go back to your 25-year-old self Ricardo, what’s the one Golden Nugget they would make sure you would tell yourself?
Ricardo:
Not to sell some of the business that I sold.
Brett:
Maybe just keep growing.
Ricardo
Some business that I created. I mean, I got rid of them too soon. And I should have not. But I build those models. And you know, they’re still in this day, they’re still in place. One is called timeout is an archaic company that is late today.
Brett:
Excellent. Second question, what project are you working on? What is the most important project that you’re working on at the moment right now?
Ricardo:
Well, I’m able to do this where my Inside Story podcast is moving along the way, quite dramatically, I was surprised how good it is. We already got it shows running, we got about two more comings along the way. Our book, one of our books for The Inside Story of the Franchise and How To Create Multiple Streams of income is coming. We’re in that production right now, I think it’s completed, we just need to start doing the editing here before it goes live in our book. Our next project will be some seminar project training that we’re going to live for people that are going to be completely free in virtual training, we’re trying to emphasize or in training for other people. We’re trying to integrate all the methodologies and marketing strategies and leads for people to be more attainable, on connecting directly through any source of income across the board in any entity or business. So trying to agree that whole network and me my brain, if I tell you all the ideas that come in my head, I got a book that, I don’t know, where’s my book, there’s a book that I have with all my ideas. And every day, those ideas are going crazy. It’s just insane.
Brett:
I can relate and I got five kids and to podcast and to two companies. And yeah, so it’s pretty incredible. The question, next question, what are you curious about right now?
Ricardo:
What?
Brett:
What are you curious about right now?
Ricardo:
What I’m curious, what am I curious about? I’ll be honest with you. I’m trying to stay away from the political aspect. I am trying to stay away from media news. I’m trying to stay away from all the negative is that are happening in the world. I am very optimistic. Instead of pessimistic, I see the glass always half full. I spoke to a young lady yesterday who asked me what did I do? What did I do? And I was like, going detail. And he was like in prayer. Oh, wow. That’s interesting. I never knew the kind of visit existed, you know, and I’m talking to people who are left to right, they’re still consuming negative things in the world. And when you tell them something that exists that is positively curious me that. People are not more aware of the positive things that happen in life, and they’re more focused on the negative things. Then we get bombarded with so much negativity, day by day, and fear and fear factors that people don’t understand. There’s always the possibility to strive forward, I spoke to a young lady and I know we’re going to get out of time. Here. Then she told me she was doing something dramatic and radical, which I know humans are doing. The women and men are starting to do this. They’re living in their cars because they have free membership, that image for a lifetime or some kind of gym, they take showers at the gym, and they live in their car, and they rent storage, and they get rid of their rent because their rent is so expensive. It’s cheaper for them to pay 100 bucks to air storage, paid $79 at a gym, they 24 hours and living there. I was like, people are doing dramatic things just drive forward to save enough money to own businesses. If you’re not owning a business, if you’re not gonna drove your life, and you don’t know where your money’s coming and go, where your wealth is coming are gone. You’re out of the loop, you’re in the rat race working for someone else, you can brag all you want about working for someone else and be successful and obtaining money. But in the long run, you’re still working for one stream of income, that one salary, yes, you can have two-stream of income when you work for someone else. Because if you have a 401 K and they contribute, you do your 401 K, let’s say two, three or four or five or 7% that is like a stream of income but not for today for the future.
Brett:
It ran out of time Ricardo, he has so much wisdom and to come back on the show again to get Part Two here. And I saw I love the energy. I love the content. So we’re gonna have a one-word answer. Are you ready? Here’s the one word. What is the best 2021 franchise either industry or opportunity that you see given what’s happened with COVID? Knight teen right. So what is it? What is it? What is that? Okay?
Ricardo:
So there’s not just one franchise is one particular company that is in the fitness world almost. We call boutique they call boutique entities of the business. The company is called exponential. There’s a group of the old, not one, not two, but 10 different franchise models in the exercise fitness world and believe it or not, if you want to reach out to me they’re very profitable. They’re going from stress laugh from Pilates you name
Brett:
There it is and there’s this website of the srsfranchise.com, Ricardo Matos. Hey Ricardo it’s been a pleasure having you on the show. I want to encourage you to keep using the gifts and talents even given to bless others and help them you know, create and preserve more wealth in their business and or franchising or buying businesses selling businesses all the above reach out to Ricardo Matos at srsfranchise.com and of course if you have any challenges with the capital gains tax, and you’re looking for ways to exit a business or real estate, high-end primary home, private stock, public stock, and cryptocurrency anything that has capital gains tax, you can use the deferred sales trust and 1000s of closes 25-year track record and go to capitalgainstaxsolutions.com to learn about that schedule your free one on one consultation. If you’re a business broker, listen to this podcast or a financial advisor or commercial real estate agent. You go to expertcresecrets.com to learn more about how the deferred sales trust can grow your business. With that everybody, we’re out of time. Thank you so much for being a part of the show and listening. We will talk to you again real soon.
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About Ricardo Matos
Born and raised on the island of Puerto Rico to an entrepreneurial father working in the furniture wholesale business, Ricardo Matos was destined for greatness as a child. At a young age, Ricardo learned the importance of establishing a foundation for a successful business and the tools and attitude necessary to help any business succeed. His entrepreneurial spirit was passed down from generation to generation and became the impulse that drove him. He created his first business at age 12 — a paper route which he quickly grew from 25 subscribers to 535 in less than eight months, and he no doubt became the newspaper porter of the year.
From that drive, determination, and insight Ricardo has executed and developed many emerging businesses and strategies not only in the oil and gas world but also in the expanding and developing landscape of the franchisor and franchisee. Now offering tools, classes (‘know-how’), and motivational resources to bring any potential client to his/her best in the franchising world, Ricardo offers a host of wealth to all clients he services.
In 2019 Ricardo started Saiter Real Solutions Franchise to provide free franchise consulting services to assist individuals in making the best decision when buying a franchise, business, or business opportunity. SRS represents more than 500 of today’s leading franchise opportunities and is well known in the industry for its professional approach by its franchise partners. SRS’s primary goal is to help navigate through the entire process and build a successful business for you and your family.
