“ The economy is hot , which makes the labor market competitive .”
U N D E R
First job : Data entry clerk .
Formative influences / events : After college I went to work for Baker Hughes in Dubai . My boss Tamer M . Nassar was head of legal and compliance . I was there at ages 24 and 25 . Nassar taught me about good work ethic , organization , leadership , management , and negotiation skills I still use on the job today . I was there as Nassar empathized with employees at a facility in Egypt who were upset with upper management about alleged on-the-job injuries . Nassar managed to negotiate a reasonable compensation . He really listened to them and took the time to communicate with them . He also showed me how to negotiate without being aggressive . I learned the effectiveness of being brief , blunt with an open line of communication .
Key accomplishments : Starting two companies , Any Lab Test Now and Swimming D1 for one season . I opened my fi rst Any Lab Test Now franchise with my partner Omar Sharif in 2015 . We now own two locations with a third on the way . I also own and operate a diagnostic technology company , commercial construction business in Dallas , and a rental property business .
Biggest current challenge : Running multiple businesses .
Next big goal : Open a CLIA ( Clinical Laboratory Improvement Amendments of 1988 ) Complex Lab . I would broker for lab testing , like drug testing and toxicology testing .
First turning point in your career : Leaving the oil and gas industry .
Best business decision : Hire the right managers ( Bianca and Heather ) who really understand the importance of thorough communication .
Hardest lesson learned : Always get it in writing . About a year ago , I agreed to a construction contract on good faith with nothing in writing and it went south . I learned my lesson .
Work week : Monday through Saturday . I only go out on Saturday night . A typical day is to wake up about 6:30 or 7 a . m ., work out , then respond to emails , texts , communicate with employees , landlords , and monitor lab progress through merchant services and LivePOS . I do 90 percent of my work on my iPhone , including signing contracts . At the end of day I will go home , cook with Blue Apron with my girlfriend . I am on a meat-free diet , eating only fi sh and veggies because of my high cholesterol .
PERSONAL
Exercise / workout : 4 times a week , tennis or Life Time Fitness , maybe yoga .
Best advice you ever got : “ Nobody is going to build your empire for you .” That ’ s a quote from my father .
What ’ s your passion in business ? Strategy and fi nance . I am always looking to strategically fi nance a project . I will get bids from multiple contractors on a construction project to use during the negotiation process . I do the same to get lines of credit and bank loans ( go to one bank and shop around for another , always looking for the best deal ).
How do you balance life and work ? There is a difference between life and work ? You can ’ t leave things up to chance , you have to actively pursue your goals .
Guilty pleasure : Chocolate chip cookies .
Favorite book : Candide by Voltaire . Voltaire is a dark author , but the book goes back to the idea that no one is going to build your empire except for you .
Favorite movie : “ Shawshank Redemption .”
What do most people not know about you ? I have high cholesterol . I knew my family had a history of high cholesterol . When I turned 26 and didn ’ t have any more insurance , my deductible was something like fi ve or six grand . I searched lab services and found Any Lab Test Now . I got my exam and in 24 to 48 hours I had the results . I thought that was amazing . Then my friend Omar Sharif approached me about the idea of buying an Any Lab Test Now franchise . I remembered my experience and thought , Yes , for sure . Now because I am a franchisee , I am able to get tests done really cheaply . I ’ ve also adjusted my diet .
Pet peeve : Not washing your hands .
What did you want to be when you grew up ? Surgeon . At Boston University I started out as a pre-med , biochem major , but then started gravitating toward economics .
Last vacation : Keystone , Colorado .
Person I ’ d most like to have lunch with : Jimmy Carter . I think he was an underrated president , I think he had a good energy policy in place . The fact he was a peanut farmer said a lot about his character . He ’ s got great communication skills . He was heavily involved in the Middle East and energy .
“ The economy is hot , which makes the labor market competitive .”
BOTTOM LINE
Annual revenue : $ 200,000 ( approx .). 2017 goals : $ 250,000 .
Growth meter : How do you measure your growth ? Number of transactions .
Vision meter : Where do you want to be in 5 years ? 10 years ? Multiple franchises in different industries .
How is the economy in your region affecting you , your employees , your customers ? The economy is hot , which makes the labor market competitive .
Are you experiencing economic growth in your market ? Yes .
How do changes in the economy affect the way you do business ? It affects my cost benefi t analysis for my opportunity costs .
How do you forecast for your business ? Use comparable franchise locations to project growth .
What are the best sources for capital expansion ? Bank lines of credit .
Experience with private equity , local banks , national banks , other institutions ? Yes .
What are you doing to take care of your employees ? Listening to their concerns and providing them the tools to alleviate the concerns .
How are you handling rising employee costs ( payroll , minimum wage , healthcare , etc .)? Trying to stay informed on the labor market .
How do you reward / recognize topperforming employees ? Gift cards .
What kind of exit strategy do you have in place ? Currently none .
MULTI-UNIT FRANCHISEE ISSUE III , 2017 77