Episode 5: Adam Bumpus- Franchise Owner, That1Painter

1:00 Mike introduces Adam Bumpus, Franchise Owner with That1Painter2:04 Adam discusses his background before investing in T1P3:47 Adam discusses why he went back to school to earn his MBA and how it helps with his new business5:55 Adam explains his path to entrepreneurship7:39 Adam talks about why he selected That1Painter9:40 Adam discusses the thought process behind securing 6 territories in 3 cities with 2 partners13:48 Adam talks about launching his first T1P territory15:35 Adam explains how having a peer network helped them get through initial challenges16:53 Adam says they are doing well, but haven’t yet met their aggressive forecasts17:40 Adam talks about the decision to invest in additional territory which ate up some of their working capital19:00 Adam reflects on what he would have done differently if he were to launch now20:00 Adam had to let his first employee go and describes the emotional toll it took on him21:35 Adam talks about his ambitions to achieve a “million dollar month” in Chattanooga and reached $80k in August 2023, month #522:40 Knoxville hits $100k in sales in a month.  Adam discussed their ambitions to reach $1 Million in sales per year per territory23:30 Adam says that one well-trained employee at corporate can achieve $150k in sales per month23:55 Adam talks about the support he has received from Franchisor, ResiBrands 24:48 Adam describes ResiBrands leadership as exceptional business people and exceptional salespeople25:00 Adam describes the rapid growth of ResiBrands support system27:07 Adam discusses T1P’s software platform28:10 After training, Adam said he was armed to the teeth with tools to be successful in a business he previously knew nothing about28:22 Adam discusses the advantages he enjoys with T1P’s new technology when his competition has outdated legacy systems that can’t keep up with T1PFree Resource for Franchise QB Listeners:The Franchise QB Playbook will guide you through the process of finding your perfect franchise fit.  Free Franchise Doc:  👉https://www.franchiseqb.com/playbook#franchiseownership  #FranchiseOpportunities #OwnABusiness #FranchiseSuccess #FranchiseQBContact me and my team with any questions along the way.  www.calendly.com/franchiseguyMike Halpern, [email protected]