Learn more about the outstanding
opportunity with 5th Avenue Acquisitions & Venture Capitalists through
this interview with Reagan Rodruiguez, CEO/ Managing Partner.
What makes your industry attractive?
You will act as a legacy planner for your clients and in the
business community. Your work will matter. It will leave a legacy. You’ll have
the opportunity to build your own M&A organization. This will allow you to
develop your own style and method of developing your business. As your practice
continues to grow, you will be exposed to many additional business
opportunities that you can choose to participate in either actively or
passively.
What types of qualities do you look
for in potential franchisees?
- Current/past ownership experience or responsibility at the
President/GM or C-level - A "builder" mentality; not happy simply making a stable income
- Connections with other key leaders – business owners, CPA’s,
bank presidents, economic development directors, etc. – or the desire and
ability to quickly establish those relationships - A good reputation in the local community and well respected with
people you’ve done business with in the past - Board member experience – community, not-for-profit or other
for-profit
What do your franchise fees and
royalties cover?
Certification
to do Valuations for the Dental and Medical profession.
How do territories work for your franchisees?
They
acquire the city that they want and if they have friends or family that is in
the medical profession in other states we can add that to their territory.
Why has your business model been successful?
Our
recipe is our Valuations and the relationship we have with a Private Equity
Group that will do 100% financing
Where do you see5th Avenue
Acquisitions & Venture Capitalists in 5 years and 10 years?
Publicly
traded with stock options to all Partners at 5th Avenue Acquisitions
& Venture Capitalists.
What is your favorite advice for new
franchisees to help them succeed?
Put
together a Board of Advisors that will help you grow your Firm and help with
accountability.
What would you tell potential
franchisees that may be nervous about the financial burdens of starting a
franchise?
With
this business model focus on making just one sale because just one acquisition
can bring you $100,000 to $300,000 per sale. Take things one step at a time.
What was your background and experience before
founding this franchise?
Private
Equity and Business Brokering
Can you tell
us more about your industry and what makes it so attractive?
We take a situation that has promise and connect the right
relationships to turn it into a dream come true. The interests and passions of
the seller & buyer drive us.
Now we don’t do this for just anyone or for any type of business.
We are specialists. We focus on the Dental, Veterinary, Medical/Surgery,
Ophthalmologist, and Optometry practices who need to grow or need to change.
Here’s a great profile to start with: an existing dentist or veterinarian that
is wanting to retire, has a health challenge, going through a transition, or is
looking to add on a partner and sell off part of his practice. We simply call
them sellers. They have an asset of value and are ready to make a change.
Of course there can be no sale until there is a qualified buyer.
The buyers we serve best have been an associate at a practice for at least 2
years and may not happy with the amount of hours he/she has to work. On top of
that, they are probably not happy with the pay. This is an individual who is
motivated to be in business for themselves. They are itching to do things
better and make their mark.
The reason it is a great industry to start a business in today is
because Healthcare is needed regardless of the economy and the baby boomers are
the largest block of people in America and now is the time that they are
wanting to retire and if they are Dentists, or Physicians then they are wanting
an exit strategy so that they can retire.
How has your industry changed in the last 10
years? 20 years?
Most
Doctors are not aware that they can sell their patients and that they can walk
away with enough to retire on.
What makes the 5th Avenue Acquisitions &
Venture Capitalists’ business
opportunity more attractive than your competitor’s?
We
are able to get 100% financing and our average commission is from 100,000 to
300,000 and most business brokers sell 200,000 dollar businesses that will only
make them 20,000
Describe the ideal candidate. Do you think your requirements are any
different than your competitor’s?
Our job is to ensure ‘the right people get on the bus’ in our
territory, and we are blessed to have a great foundation of fabulous people to
build from. The people on our team are easily some of the best people we’ve
ever had the privilege to work within our lives. 5th Avenue Acquisitions
provides a phenomenal ‘bus’ with the best tools and methodologies and resources
in the industry. Coupled with the right people, the ‘bus’ will get to the right
place. In fact, we’re so serious about this that our Board of Advisors helps us
formally decide who will be awarded the chance to join our team.
The support, training, intellectual property and sheer opportunity
5th Avenue Acquisitions & Venture Capitalists provides is world-class. Our
future is limitless, so long as we continue to add the right people – people
with the passion to help others, the passion to be a change agent, the
leadership skills to work with Doctors and Hospitals, the guts and determination
to succeed at the highest levels and the commitment to learn, master and apply
the business development processes and framework in the 5th Avenue tool-kit. In
addition, Partners & Associates that join our team will be excited to do
business within our 14 Points of Culture, will be great team players and will
be great representatives of our brand.
My objective for every 5th Avenue Acquisition & Venture
Capitalist partner of ours, as they move forward, they will feel called to
leverage the systems, strategies, methodologies and opportunities 5th Avenue
has provided to buy, build and grow a portfolio of businesses in other industries over time. These businesses will have strong principal-based
cultures similar to 5th Avenue and be a vehicle to not only help create more
wealth, but to also provide a place for exceptional people at all levels (from
shop floor to the C-level) to be able to contribute and reap the rewards of
hard work and a great culture and all be treated with the same level of dignity
and respect as human beings. That provides us a platform to help many more
people than we can today (only a small % of people are a great fit for 5th
Avenue Acquisitions) and be able to fulfill our passions, while having a whole
lot of fun growing more businesses. Eventually you will get into larger
acquisitions like Reagan Rodriguez is involved with currently.
Chemistry is important, therefore they have to fit into our culture. Our
culture means that every member of the team is committed to their own success
and personal development. In other words, we are all committed to our own
learning.
What’s the strongest skill you require in a
candidate?
Patience
between all parties is important. In this generation of instant food, instant
information and instant messaging we must not forget the great virtue of
patience. Patience is not procrastination or delaying an obligation; it is
waiting for the right time. In the appropriate moment we will achieve better
results and avoid many difficulties throughout the acquisition.
Describe the working environment of your
franchisees (indoors, home office, mobile, etc). Is your environment typical of other
companies in your industry?
Working
from home, setting your own timetable, spending time with family and friends,
knowing that the hard work you do is for your own company and, not having to
climb a so-called corporate ladder. This is what lifestyle is all
about -remember, business is supposed to give you a life, not take it away
Why has 5th
Avenue Acquisitions & Venture Capitalists been successful?
Going into business for yourself does not create wealth and
freedom – a proper Exit Strategy with proprietary methodologies on acquisitions
create wealth and freedom!
Being in business for yourself does not have to mean being in business by yourself.
Working with 5thAvenue Acquisitions can be the key to overcoming those
weaknesses that threaten to cause business failure. 5th Avenue Acqusitions – Partners use our proven Business Performance Review and Mentoring System to
rapidly identify performance gaps and then provide the support and
accountability to achieve winning results.
Use the proprietary methodologies
of 5th Avenue Acquisitions
There is a vast difference between working "IN" your business and
working "ON" your business. By
acquiring into a partnership/firm with 5th Avenue Acquisitions we will show you
how to create the time you need so you can build a business that works harder
than you do, even when you’re not there. Learn how to create a lifestyle rather
than a life sentence.
Do you want to wait and see what the economy does, hoping it gets
better. Fortunes are always being made, regardless of the economy. There is no better
time to take charge of your business future than right NOW! Sitting on the
sidelines waiting for something to happen is the surest way to miss out.
Learning to master your "Attitude & Mindset" is one of the most important
skills that you can develop during a rough economy. While others panic or
freeze in their uncertainty, those who keep their wits and take action are the
ones who will win big.
As a 5th Avenue Acquisition Partner we will teach you how to
become an equity partner as a Venture Capitalist which will help you take your
net worth exactly where you want it to go!
What advice would you give someone interested
in buying a franchise in your industry?
We
are conscious of our time, and responsible for our abilities and ideas. Our
attitude is one of earning our way through life. Life is a gift and what we do
with it is in our hands. Things don’t just happen, we must make them happen. We
are not born with wealth, but have been given the ability to create it. And for
us, creating wealth is the marker of success – financial and relational. The
key to wealthy living is a productive life. The only thing we leave is our
character and reputation. Our character is developed by how productive we have
been in our work and in our lives.