Find out how Erik Van Horn went from running a business for only two hours a week to making an eight-figure exit.
To read a transcript of this episode, click here.
Can you actually thrive in an industry you don’t know much about?
According to Erik Van Horn, former franchise owner of Sola Salon Studios, you sure can.
Achieving his success as a franchise owner always looking for the next deal, Van Horn stumbled across the salon industry in 2014. Though a new-found territory, Van Horn and his business partners invested in Sola Salon Studios and grew to own 12 locations in Orange County, California by 2018.
All the while, Van Horn remained a ‘non-expert’ in the industry and only dedicated a couple of hours each week to the business he was able to evolve into a multi-million-dollar enterprise.
So, how did he reach an eight-figure exit?
In this episode, you’ll learn:
- The ‘Bad Boy Clause’ and why Van Horn recommends it for partnerships
- How to calculate your ‘Dream Number’
- How to protect yourself from landlord and lease delays
- “TI” dollars and what they could mean for your business.
- The idiosyncrasies and nuances of selling a franchise
One of the keys to Van Horn’s success is identifying business breaks where he can be a ‘semi-absentee’ owner. Finding ways to make your business’s operations less dependent on you is explored in Module 7 of The Value Builder System™. Get started for free right now by completing Module 1.
About Erik Van Horn
Erik Van Horn is an entrepreneur and franchise consultant who has worn just about every hat in the franchise industry over the last two decades. He is a practice what you preach kind of guy, who speaks from his success, both as a franchisee and a regional developer. Van Horn is an expert in multi-brand, multi-unit franchising, and semi-absentee business ownership. He’s owned and expanded 6 different brands in 8 states, mostly from the comfort of his home!
Van Horn also helps people find great franchise opportunities for themselves, so they can find the same freedom through franchising that he found for himself.
Van Horn currently lives in the Black Hills of South Dakota, where he enjoys a variety of outdoor adventure and spending time with his wife and three daughters.
Do You Know An Entrepreneur With A Story To Tell?
We’re constantly on the prowl for interesting stories from owners who have sold their businesses. We look for owners who have sold a business that was generating $1 million or more in revenue and who are willing to share their story candidly with our community. Forbes ranked Built to Sell Radio one of their top 10 podcasts for entrepreneurs and we have more than 400,000 downloads, so your story will get shared with a great community of like-minded owners. Nominate yourself or someone you know today.
At Built to Sell we’re all about shifting the balance of power from the buyer to the seller. If you support our mission, please write a review on iTunes—and if you have any comments or questions you can find us on Twitter and Facebook. Tune in every Wednesday for another episode of #BuiltToSell Radio with John Warrillow.
Entrepreneurs: Do You Have A Dream Number? Write It Down.
Have you ever daydreamed about what your business could be worth one day?
Kenan Hopkins spent 7 years paying what he calls “the idiot tax”, until he learned the more efficient way to run a business.
What’s Your Business Worth?
Take the 13-minute survey and get your Value Builder Score
The Value Builder Score was inspired by the book, Built to Sell. It was created to help business owners like you build more valuable companies. Join more than 30,000 entrepreneurs by getting your free Value Builder Score, and find out how valuable your company really is.Get Your Score
It’s free and 100% confidential