She Makes $500k On Lice Treatments Franchise

Cody Bradstreet

In Episode #380, Nathan interviews Cody Bradstreet. Cody has a background in accounting and was working for Dell when she realized she needed a backup plan for work. She opened up her own franchise of The Lice Place, where people can have lice manually moved without harsh chemicals. Find out how an accountant got her hands into the lice industry.

Subscribe_Buttons_iPhone

Subscribe_Button_Android

iTunes, Google Play, Stitcher, Soundcloud, How to Subscribe

Famous 5:

  • Favorite Book? – Her own future book
  • What CEO do you follow? — No
  • Favorite online tool? — Quickbooks
  • Do you get 8 hours of sleep?—Yes
  • If you could let your 20 year old self know one thing, what would it be? — Love yourself. Forward fixes everything.

Time Stamped Show Notes:

  • 01:00 – Nathan introduces Cody
  • 01:20 – Started in accounting
  • 01:40 – Worked at Dell
  • 02:10 – She left Dell to “chase my dreams in the lice industry.”
  • 02:30 – Started as a backup plan for possible layoffs
  • 03:20 – She approached a small business, The Lice Place
  • 03:50 – The transition
  • 04:25 – Franchising
  • 04:40 – Total revenue for the year before she bought it was under $50k
  • 05:10 – Service to manually remove lice
  • 05:50 – She did her own valuation
  • 06:50 – Royalties
    • 07:10 – A standard franchise model
  • 08:00 – A goal to buy the whole business
  • 08:50 – Why to buy instead of build
  • 09:10 – Revenue for the last year was $250k
  • 09:50 – Employees are the biggest expenses
  • 10:10 – Advice for future franchisers
    • 10:40 – “Get a good lawyer.”
  • 10:55 – Connect with Cody on LinkedIn
  • 12:45 — The Famous Five

3 Key Points:

  1. Put yourself out there to get into a certain industry or business.
  2. Consider buying a business instead of building a new one.
  3. Make sure you read the fine print before you start your own franchise.

Resources Mentioned:

  • Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
  • Freshbooks – The site Nathan uses to manage his invoices and accounts.
  • Leadpages  – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
  • Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.