Mike Minutes Mastermind 10/09/2023

Hey everyone. Hope you're doing well. Happy Monday. Let's go ahead and get started. A couple announcements after I get this into Facebook. One second here. Sorry.

All right. Announcements are revolving around, ah, the wrong one sec.

Conference. Conference is one week away from today and so I want to do over a couple things.

Tuesday evening dinner, we're able to move it back to 6:30 so give it a little more time after the public conference. So if you want to talk to other people and all the rest of it, you can feel welcome to do so. So 6:30 is the Tuesday evening dinner. I can actually make a note to make that change on our on the dashboard change. Dinner time.

On Tuesday evening. Monday morning registration, it's going to start 6am.

And I would highly recommend getting there early. Although the schedule says starting at 8:00'. Clock. That is when I will be on stage. You start prior to that. Liz and Lee will be going up at 7:45. So I would really recommend being you know, grab some food downstairs, there's like a whole restaurant slash grocery store in the hotel and then you know be up there by 7, 7:30 for registration. Feel free to go through some of the booths etc if you like but make sure you're in the hall by 7:30 would be my recommendation that is Monday morning.

In terms of you are there Sunday evening. I appreciate everyone wanting to help but if we have 100 people trying to help us, not much will get done. So everyone here that's coming from the team has a pretty defined role of what we're doing and then there are a few franchisees have reached out and they have assigned.

A task to do. So if you would like to help you can stay stick around in the waiting area outside of registration but please don't go into where the booths are being set up inside the conference hall where we'll be setting up AV stuff.

As much as I appreciate wanting to help people standing around will actually just slow everything down. So everyone has a pretty clear defined role and a to do list exactly what they should be doing and those that have been contacted already for help know what they need to be doing and if you would like to be there and offer help, please just be available outside of registration and if they need help with anything they'll let you know. We have pretty much everything covered. A lot of the setup rules are actually required by the union inside their housing authority. So we can't do a lot of like the AV setup for example, like all that has to be done and like the tables and chairs and all that has to be done by the hotel. So it's actually not too bad. But everyone here, about 15 of us that are coming, have pretty clear defined roles. And then there's about three or four franchisees that are also helping us and they have clear directions on what they should be doing Sunday evening. If you want to help again, you're more than welcome just to stay outside of registration. So we're not all milling around in the booth area where they're setting up stuff and the conference hall. So that's all I got. Just make sure you're there early Monday. That is the number one thing to remember.

All right, let's go ahead and jump in.

Devin from Red Deer. Hey Mike, Andy's do you guys do P4P for snow removal? If so, say you have two trucks each, do 30 driveways at $220 a month, $6,600 each. How would you give per snowfall? And what if a light fall versus a heavy fall? Should I give them a guarantee of three or four hours or $100 minimum for jumping in the truck? Because If I have two trucks both doing 30 in Red Deer, the route to be pretty tight. A guy could do a light fall in two to four hours. Let us know. I wouldn't worry about the minimum side of things too much. I just try to get as many more driveways, honestly. So I it becomes at least four hours. Ideally, PvP for snow removal isn't great if you only have a few snowfalls once. And now and then I think PPP is where I've seen several companies implement it that do 12, 14, 15 snowfalls a year. In Alberta, you might have enough to be able to do P4P. The reason is if you're only doing one or two or three snow pushes a year, your guys are not going to be safe enough to be having the the ability to go fast, which is without breaking stuff. And the breaking something with snow is a big deal. Typically you're talking about like a garage door, a backing into a vehicle, taking out a curb. So I would probably more likely give them, you know, hey, if you do all these jobs and you do them without any damage cases, there's a bonus. That's what we did back when we did snow removal. We don't do snow removal anymore. But if we were to do snow removal in our market where maybe once or twice a year we need to do removal.

We would just do a hourly rate, which is usually time and a half, and then.

A bonus if they don't have any mistakes. Any yellow slips?

Ken from F Michigan this is a suggestion for the stock photos for the small, medium and large size properties on the website. If the media team can find a simple stock photo or make their own then then I'll just choose from that. If not, then I'll just make my own like it shows here. I think this way will be easier for everyone and the customer. They won't be looking at the front of the house but a top down view to better get understanding of their yard. Yeah so there will be options of each size for small, medium, large. I think we have three or four different pictures for each. You'll see that on the form and that includes aerial images and so it's completely up to you. If you want more aerial, we have those. If you want more.

Front view like I've shown on the forms that we're using for our corporate locations, that's also fine as well.

So there'll be options Kyle Tarpon from Moore, Oklahoma let's say you owned multiple companies in different sectors of home service. Would you want to set up a holding company to each of those LLCs or would it be better for you just to personally own the LLCs and forego the holding company? If I understand it right, you would only have to do one tax return for all the businesses owned inside the holding company versus multiple returns if you own the LLCs under your name. What about loss suit liability if one corporation owns the LLC versus you personally? Good question. The thing is this holding company is a real term. It's not just Saying Corporation over LLCs. A Holdco or holding company only governs financing behavior and distribution of capital when it comes to.

Their interaction with the business. So actual holding company is really just having to do with equity and distributions and so keep that in mind. Otherwise you will have you will pierce the corporate veil very easily between all your LLCs. You're going to still want to have different insurance for all of them and then you're going to umbrella insurance for a Holdco. But I think the vast majority of us don't need to worry about this. I do have a hold code for all my corporate locations so that way I just run one tax return for all my corporate locations and they all individually have different insurances, different entities, structures, etc and the Holdco is simply there to move money around.

But I would only probably do that in the event of doing cross state like interstate locations like I have. Otherwise you don't even need to do that. So just my two cents. Talk to an attorney. That's who you really need to talk to here. This isn't even so much about an accountant as much as an attorney. There's a good video.

Look up on YouTube. The financial verdict is the name of the channel. It's a small, tiny channel like a thousand subscribers and just Search Lawyer Explains Wealth Building Strategy the Ultimate Guide to Holding Company for Small Business Feel free to look at that. The video quality isn't great and the music a little annoying, but it's pretty good information from a lawyer's perspective if you're interested in holdco stuff. But just be clear, a whole actual holding company only works with equity and distributions and capital. If you're actually getting involved in the operations of the business from the whole company, you can consider a quote unquote holding company by putting a corporation with LLCs inside of it, but it's no longer an actual holding company. And there are certain tax ramifications of actually having a holding company versus.

Like Alphabet for example, the holding company for Google and YouTube and all the other stuff that they do. So. Oh.

Cool. Well, we got all we got for today. End of Q3. Typically we would have a round table, but we're just going to consider the roundtable to be a conference Wednesday. At conference I will have lots of time for Q A on Wednesday, so.

Feel free to obviously ask questions then if you want. There's not anything crazy new or doing a conference for us on Wednesday that's like brands making new. There's a few new changes and stuff that's coming up in the future, but nothing like radically different. But if you have questions about it, there will be time on Wednesday to ask Q A at the church cathedral.

Tuesday night. There's no speaking, it's just dinner. So like don't feel like you're gonna have to be sitting and taking notes or anything. It is completely just to talk with each other. I'd really recommend like mingling and like not just sitting at your table but like walking around. I just wanted to get us all in one room and having dinner together. Um, but I'll just be mingling throughout the whole event. Um, there will be no speaking. There's not any organized keynotes on Tuesday and evening. So I just recommend getting to know as many people inside of Augusta as possible. And that might mean eating your food and then just walking around from table to table and talking to people. Um, just don't stay inside your five or ten people you know from training at Augusta Nation. I highly recommend the value you will get in just meeting every person In a gustination that you don't know their face is highly valuable. Extremely valuable. So in my opinion, that's why you come to conferences as a part of Augusta Nation is to meet everyone else. There's been 35, 40 people, new locations added this past year. Some locations are already up against a million in revenue. Highly recommend you talk to these people. Highly talk. If you do not know their face, you should go talk to them. There's probably about 15 or 20 of our owners that constantly are active in Facebook and the mastermind questionnaires, etc. And so you might know their name, get the face to them, talk to them as well as all the other people you've never heard of, you should just go talk to them. And so highly recommend that that Tuesday evening dinner. If you have not met someone in Augusta Nation in the past two days or Sunday, Monday, Tuesday, you should be talking to every single person. And then Wednesday we get meet up everyone again, same thing. We'll be in a church, like a cathedral thing. So you'll know everyone's there is just the Gusta Nation and you'll be able to talk to everybody.

So please, please, please take advantage of it. Is the reason I would show up if I was a franchisee is to make all those connections because you meet 10 different people that you never know before and like, oh, man, they're the Christmas lights guy. If I have a question, I know who go to. Oh, they talked about like a strategy. They used to explain P4P to their crew. It really helped them. Oh, I should talk to them. Like, these are the connections you need to make.

And that is where the value lays. So we're going to be emphasizing that a little bit on Wednesday and we're having a program kind of like solidifying this a little bit more, which I think will be really helpful for all of us. But yeah, looking forward to it. Got some cool stuff and can't wait to see you all there. But until then, I'll see you tomorrow. So take care, guys. Have a good one.