Rolling Up an Industry with 1.5x Multiples

So that's kind of how I think about the eventual structure of what I'm trying to build. Several location that can run by itself with enough profit margin that can sustain a regional management layer. Yeah. So that's kind of where my head is at.

Why I'm trying to spend a lot of my time building a strong enough operational structure so that I can walk away whenever I want.

It sounds like you're working toward that. It doesn't sound like you're necessari running hard toward an exit.

No, exit is not what I have in mind right now because I'm not there yet. Because I, I don't think I'm even at the scale where I can exit and sell this off as like what I want, what I picture it to be because I entered this journey with a roll up model in mind and I'm not there yet.

Yeah.

So I'm going to accomplish that roll up models first and then think about what's the next step. And for now it like you say, it's not Passive. It's not a passive income thing on the side because of how much involvement from like a unique personal involvement in this kind of business.

Because like customers actually will ask oh, where's Chuck? I haven't seen her lately. It's a very, very personal relationship too.

So want to make sure that we maintaining that because I think customer will not like it when they realize that the nail salon is now run like a PE backed venture.

So it's not just the technicians who want to see you putting in the work. It's the customers who want to see your involvement as well.

Yeah.

Which is, which is natural because as, as customers as a customer myself of local businesses. Yeah. I like to. The more independent the business is, the more I like it.