My background is in finance and technology, and I most recently left a long term role as the CFO of a publicly traded company and am now heavily involved in another early stage company. I am definitely an entrepreneur, but also very data driven and focused on building businesses that can scale.
I was introduced to Lice Clinics of America through a favorite podcast of mine that focuses on financial investments for those interested in a supplemental income. A Lice Clinics of America franchisee was featured – and her remarks really spoke to me. I quickly followed up with investigating the franchise and validating the business model.
I was then, and still am, very attracted to:
- the high average per ticket sale and low transaction volume
- the variable cost structure nature of the model
- by appointment customers
- not a fad
- utilizes proprietary technology
- asset light
- low initial capital investment
- high ROI
- an exclusive territory
It is also important to me that my time and my capital are invested in doing good in addition to doing well financially. Lice Clinics of America fits that requirement as it clearly does good for kids, parents and caregivers, schools and the community.
My next step after deciding it was a good financial and personal fit was to find the right manager to run my clinics. I was able to find her, and she has been a critical part of my (and our) success. My manager started with me with one unit and we quickly grew to three and we continue to be on an acquisition and growth trajectory.
In addition to the financial rewards, I am particularly happy to be creating wealth for my manager with an ownership share, creating jobs in my community and changing many lives for the better.
Because I am data driven I also particularly like the direction Lice Clinics of America has continued to emphasize to all franchisees in the network – how to use data to support the daily operations, KPI’s for benchmarking, best practices to follow, shared financial information between the franchisees and analytics to support territory selection.
Last but not least, as we potentially head into a recession, I am not worried about my ability to navigate those waters. Lice have been around for thousands of years and they are not going anywhere. Kids will continue to contract head lice and as parents and caregivers become aware of the superior – and truly most cost effective method to cure the problem – essentially a recession proof business. The demand will be there in good times and in bad.
