Eddie Rodriguez, CEO of The Franchise Tailor, explores his roots of entrepreneurship and his journey to helping others discover their next career in franchise ownership.

https://youtu.be/gpd1znQiSM4



Eddie Rodriguez linkedin: https://www.linkedin.com/in/eddierodrigueztft/

Eddie Rodriguez website: https://www.thefranchisetailor.com/

Hi everyone, Shelby Jo long here with the strategic advisor board. And I have the opportunity to work in this podcast to talk to genius entrepreneurs that have transformed their expertise into an income stream. And today is no exception. Eddie Rodriguez who is at the franchise Taylor group, is one of those serial entrepreneurs interesting battles that he can help inspire you to start thinking about your entrepreneurial journey a little bit differently, and maybe how you can use your Genius to craft that journey. So Eddie, welcome to the podcast. I'm really happy that you're here today.

Thank you, Shelby. Happy to be here.

Yeah, can you start by just telling us a little bit about your business?

Sure. My business currently is called the franchise Tailor. I'm partnered and affiliated with a very large group in America called Hi FPG International Franchise professionals group. In a nutshell, what I do as a certified Franchise expert consultant is a a help educate people that want to consider business ownership and perhaps franchise ownership as their next step in their professional life. Or maybe they're sick of being in corporate America. They want to be the boss now and they want to explore options. Franchise ownership is a great option. I have created and built multiple businesses in my lifetime. I started my career in the apparel and fashion industry, and built my own menswear brand that was sold globally for many years. And then I learned a lot about the franchise industry, quite honestly serving at a non compete and resulting business. Sure, and simultaneously a lot of dear friends of mine that were senior executive C level executives, very successful, but you know what, either they had gotten let go or the company had merged and downsize so they were out there thinking I have the best resume on Earth I'm gonna get a job tomorrow multiple offers wasn't happening because little thing called age discrimination started to rear its ugly head at around age 45. But they weren't the natural entrepreneurs, they might have dreamed about owning their own business, but they didn't know what that looked like, what do I do? They're used to working in a corporate entity with support. So I found franchise ownership to be compelling because a they're already established businesses, they're validated. There's other owners. There are people doing well in the system. And so when you invest in a franchise business, you don't reinvent the wheel. It's already been created and perfected. So what ends up happening is you invest in a partnership, and that comes with intellectual property, support technology, marketing operations, and otherwise, you go back to your home, and you have a business that's yours in your market. So I also like to say you're in business for yourself but not by yourself. But it's become a as hokey as this may sound. At this stage of my life. I really enjoy people finding their best next life. And franchise ownership is a viable option for people that just want to build equity want financial independence and freedom want to take off on Friday afternoons to go see their daughter play lacrosse and then their son play soccer and or want to take a long weekend vacation with their spouse and not have to worry that the boss is going to say no, we're too busy. So so that's what I do now after a long career in the fashion industry.

Well, I want to hear more about the fashion industry that sounds very, very entertaining to me. But the thing about the franchise ownership that I I would guess is so appealing is that as a serial entrepreneur, you understand how the challenges of being an entrepreneur and how how challenging that is for someone that has been in corporate America or been in you know, in my case, I've been in academia for 17 years and it's very safe. It's very comfortable. Constant paycheck but then you walk into this very fearful market economy that might buy your product or might not and the security of the franchise ownership is is pretty attractive. So it's a it is a step in entrepreneurship, about the fears that might be associated with it.

So yeah, I mean, most compelling is, this is pre pandemic numbers. Only 17 One 7% of startup businesses, let's say you and I come up with some great new idea to open up a new business in our market, only about 17% of those who are still open two years later, franchise businesses that opened today, over 80% of them are still in business 10 years plus, it's not rocket science. It's because those businesses have already been created and perfected. Establishing comes with a template for success.

If people follow their systems and protocols, their chances of succeeding are far greater. So and then, because it's not a job. People that apply for a job in job, whether it's in academia or otherwise, is available in Bozeman, Montana, where I live in Miami, Florida, but maybe not available to someone in Atlanta, or someone that wants to move somewhere. If you're interested in exploring franchise ownership, there's territory all over the country. You can open up that franchise wherever you choose to. So there are a lot of nuances to the franchise industry. And the funny thing I bring an authentic voice to it, because I have been an entrepreneur for years. I know what it's like to build a business. I've built three very successful ones, including the one that I currently own. And one of the things that I do as a coach, is to try to get people to stay focused on why why are you doing this? You'd be surprised how many people start exploring business ownership without asking themselves why am I doing this and and for what reason what is my energy? So it's, it's it's a wonderfully rewarding business that I'm in right now because I get lots of handwritten notes. No one does handwritten notes anymore from people that I place in new opportunities where they channel their passion, not necessarily their resume into a new business. And and you know, at the end of the day, all of us just want to be happy and make a few bucks.

So it's true and support support the life that we that we want and being your own boss is is pretty attractive.

Yeah, I like to say, living life on your own terms in i i started my first business and I was 31. That was a long time ago as you can see from the gray hairs on my head. It really was. I never looked back. You know, I like being in charge of my own destiny. I like you know, if I work hard I want to keep all the money not share. It, you know, with other people. And so, it's been an exciting transition from my life in the fashion arena to to, to what I do now. I've helped people in the fashion business that want to explore other options and what I do now so it's been it's been a lot of fun.

Were you ready to step into entrepreneurship builders? Take those risks. It's risky, as you just pointed out 17% of businesses that started post pandemic are still alive today. So it's a it's a there's a risk to that. Did you have some influence? Are you surrounded by entrepreneurs in your family? Was there something that just inspired you to step into the unknown world of entrepreneurship?

Well, I'm gonna say my dad who passed away a couple of years ago, my dad was a immigrant story came here from Cuba and the first wave when Castro took power in Cuba, worked three jobs when he got here, fell madly in love with America. And he was as American as apple pie and not too long and would not allow anyone who criticized America for any reason. And eventually he got tired of it and and literally did anything and everything to start his own little autoparts store with a partner. So he was a brave entrepreneur and we didn't have money. So he was really risking at all. And what I learned from him is it's not just the idea that you put behind a new startup business. It's the passion and commitment that you bring to it. So when I talk to young entrepreneurs or people that are considering franchises, for example, that want to stay in their own lane or have a perception of what they want to do. I always tell them, slow down, look hard in the mirror. What do you think is going to make you happy? Because at the end of the day, no matter what you do, you can do all your numbers crunching and, and ROI analysis. What truly matters is when you go to bed at night and close your eyes. If you're really excited about waking up to go build your business, then about nine tenths of the game. So so what I learned from my dad is he loved his little our auto parts business that then became bigger and bigger and he worked 12 to 14 hours a days but he loved it. He taught me a lot about integrity and customer service. And and and and perseverance more than anything else. You know, you hit a wall just stand right back up and keep at it, learn from your mistakes. Failure is really a funny word. And he used to have a lot of little sayings about failure. But the one I love the most is he used to say hey, fail FAI l it means first attempt in learning. That's what it stands for. So don't allow yourself to think that you're failing you're just learning. So my dad was probably my biggest inspiration when I started my first fashion business and I did not have any money. So I applied for every credit card on earth that would give me one and I borrowed money and I did whatever and built a successful first business. It turned into a bigger successful second business. And I surrounded myself with a lot of people that were smarter than me. I always tell people surround yourself with smarter than you people. Don't let your ego get in the way and try to pick up nuggets of wisdom from all of them. That you can, you know, bring to whatever endeavor you do. So I bring that advice to people that are starting franchises too because some of them get a little too comfortable while the franchise will support me. All I have to do is go home and flip the light switch and boom, I'm going to make a million dollars year one. Ah, not the case. Right? Not at all. So no long winded answer to your question but my dad gets the biggest kudos on who was my inspiration?

What an amazing story. I love that story. And I love I love so many pieces of that just embracing the American dream. So happy to be here. creating his own life creating his own freedom. All those things are so fun and I love the the fail. The first attempt at learning, I might have to steal that I love that.

You can have advice that all entrepreneurs need to hear. That's really I love all that That's so incredible and it's you had a very powerful, powerful role model in entrepreneurship. I think that's amazing. The other thing that sticks out to me about what you were talking about was the surrounding yourself by surrounding yourself by mentors that are that are where you want to be or people that are smarter than you right that know all these things and then that is such a such an amazing influence on I, I have a say a similar feeling and entrepreneurship. I transitioned from teaching at the college into entrepreneurship, where I didn't really know what I was doing. But then when I surrounded myself with some successful business owners and I learned from them, and I could take my expertise and put it into a to a business model that made sense, but I needed that surrounding of those entrepreneur those successful entrepreneurs to be able to do that. Like that's such both of those things are so important for entrepreneurship.

I think oftentimes people allow their egos to get into the way and it's foolish, and I often tell people to when you start a business, absorb like a sponge, as much information as you possibly can from people more experienced than you are smarter than you are and and apply all those learnings. To your attendance by come across, you know, at this stage of my life, many people that just their egos get in the way. They want to be the smartest, you know, and

I'm not smart. Yeah, not smart to do that. To be had to be humble. And always learning because our the world, just the pandemic, if that taught us and taught us many lessons, but if that taught us anything, it's that you can the world can throw you a curveball, and you have to figure out how to adjust to it otherwise you're gonna shut down. Yeah, I think that is I think then that can happen at any time. So yeah. Fun. Well, I am really have really enjoyed hearing your story today and where can we find where can our audience find information about the franchise system that you're in and the bid and the trip will be? The show notes?

Yeah, the best way is my website. But the website would be the best people can find me on LinkedIn. You know, under Eddie Rodriguez, the franchise tailor and that's that's really the best place to find me.

Well, that's great. You have inspired me and I am also inspired how you've stepped into this. This coaching service to help others discover their next dream. I think that's a that's it's part of the giving back. To the whole idea of entrepreneurship. And I, I respect that so well.

You've done the same you went from academia to entrepreneurship, and I think I always commend people that are unafraid to reinvent themselves and to really understand okay, well what's next in my life? And for me, I did an old school legal pad and wrote down what I wanted, what I didn't want, and really helping people as hokey as that sounds kept resonating to me. How can I help people by bringing my experience in entrepreneurship? And and then that transitioned eventually to you know, really the franchise industry which I find to be a very compelling industry and, and one that continues to grow exponentially. So been a lot of fun.

Well, that's awesome. I have very much enjoyed our conversation today. Like to have it I think you should write a book about it. That's what I think it's pretty inspiring that you move through all these different industries and now you're helping others discover their dreams. It's pretty amazing. So and there have been to our listeners out there. There have been so many inspiring pieces of information in this interview today. I hope that inspires you to think about what's next in your life, and how you can use your Genius to inspire the audience around you. We'll see you next time