Zach Gordon

Co-CEO of Uptown Cheapskate & Kid to Kid (300 franchised thrift stores). ETA operator with my older & wiser brother

[Zach Gordon @zachdgordon]

Six years ago, my brother Tyler and I left our jobs and set out to buy a company together. For a couple of clueless MBAs, it’s a tale as old as time. Two years later, we acquired BaseCamp - a franchisor of thrift shops based in Salt Lake City that we’ve been running ever since.

Many words describe our search process. Intense, stressful, humbling (humiliating?), unpredictable. Unpredictable is the one I still chew on the most.

Over those two years, Tyler and I looked at a few hundred companies across the US. If you ran our search through a simulator 10 times, you’d get outcomes all over the board. Likely half would result in no deal at all.

A good example: in 2021, we came close to acquiring a different company that produced IT training content. With the advent of AI, there’s a legitimate chance it would have been a zero. And we tried hard for that one! I pity the version of myself living in that parallel universe.

Between the many zig and zags that got us here, we benefited from a ridiculous amount of help and of course luck. We’re big believers in karma, so we feel compelled to pay it forward and help others find their path.

We’ve spoken with a few dozen searchers over the years and honestly, it’s a lot of fun. I have something of a speciality in franchising (talk about something I wouldn’t have predicted) and always enjoy helping people think through different opportunities in the space. The hype can be out of control, but there are great systems out there.

Given that I have 19 followers, I’m dangerously close to talking to myself. But consider this an open invitation if there’s anyone out there who could use a sounding board. Tyler and I view helping as an end in itself, so please don’t hesitate to reach out!

[Zach Gordon @zachdgordon]

@AmcOnSolChain @AJA_Cortes It's now trading below $1...so the party's over.

The reasons $BYND finally declined in late 2021 were the same reasons I thought it would decline in 2019. The timing of a short is hugely important.

[Zach Gordon @zachdgordon]

@b_kochkodin Are you calling up landlords for off-market spaces as well? I'd say over half of the spaces we see go to lease weren't publicly listed.

[Zach Gordon @zachdgordon]

Store #300 opened today in Weatherford, TX!

Every store opening means another entrepreneur is off to the races. Today, it's Robin Lewis, a former public school teacher from Dallas.

Tyler and I were in very similar shoes not that long ago. It's such a privilege to help people on this path.

[Zach Gordon @zachdgordon]

@b_kochkodin Thanks a lot Brandon. We generally avoid cold shells and almost never have to go that route - although some markets are tighter than others.

Our concepts can fit into a lot of different centers, so we typically can cast a pretty wide net and find good options.

[Zach Gordon @zachdgordon]

@bn__n1c3 Very cool - hope you find it helpful!

[Zach Gordon @zachdgordon]

Six years ago, my brother Tyler and I left our jobs and set out to buy a company together. For a couple of clueless MBAs, it’s a tale as old as time. Two years later, we acquired BaseCamp - a franchisor of thrift shops based in Salt Lake City that we’ve been running ever since.

Many words describe our search process. Intense, stressful, humbling (humiliating?), unpredictable. Unpredictable is the one I still chew on the most.

Over those two years, Tyler and I looked at a few hundred companies across the US. If you ran our search through a simulator 10 times, you’d get outcomes all over the board. Likely half would result in no deal at all.

A good example: in 2021, we came close to acquiring a different company that produced IT training content. With the advent of AI, there’s a legitimate chance it would have been a zero. And we tried hard for that one! I pity the version of myself living in that parallel universe.

Between the many zig and zags that got us here, we benefited from a ridiculous amount of help and of course luck. We’re big believers in karma, so we feel compelled to pay it forward and help others find their path.

We’ve spoken with a few dozen searchers over the years and honestly, it’s a lot of fun. I have something of a speciality in franchising (talk about something I wouldn’t have predicted) and always enjoy helping people think through different opportunities in the space. The hype can be out of control, but there are great systems out there.

Given that I have 19 followers, I’m dangerously close to talking to myself. But consider this an open invitation if there’s anyone out there who could use a sounding board. Tyler and I view helping as an end in itself, so please don’t hesitate to reach out!

[Zach Gordon @zachdgordon]

@flexcapacitor @BoringBiz_ Thanks! Yep they’re one of our biggest competitors, along with their sister brand Plato’s Closet.

[Zach Gordon @zachdgordon]

@goodhandscap Thanks so much! You said it better than I could.

It’s the coolest thing ever to see people open their own businesses and for our team to play a part.

[Zach Gordon @zachdgordon]

@FranchiseMnA @jonathanmaze Ironically, it's probably a great time to be acquiring restaurants if you (1) have a long-term view and (2) have conviction in a concept that's in the dumps.

Earnings are depressed and competition is cash-starved.

[Zach Gordon @zachdgordon]

@MGuntherCE Interesting that entertainment/leisure are still the big winners.

You can definitely argue that thrift is at least partially entertainment.

[Zach Gordon @zachdgordon]

@bethanyjbabcock Glad to hear it and great to connect!

[Zach Gordon @zachdgordon]

Recently, a few close friends – even our own bro-in-law & sister – signed up to be Uptown franchisees. We tried to convince every one of them NOT to do it.

With all prospects, we paint as clear a picture as we can of life in a high-volume thrift store. The right people love this business, but the wrong people hate it.

“Are you sure you want to do this?” is a question we ask 20 different ways.

A pretty terrible sales pitch…but the one that optimizes for long-term fit.

[Zach Gordon @zachdgordon]

@Hogspluschill Amazing! They just opened their store to buy this week. We're so pumped for them.

[Zach Gordon @zachdgordon]

The ability to learn from other owners in the EXACT same business is one of the biggest structural advantages of a franchise.

Who do you call if you're struggling as an independent SMB? In many respects, you're wearing a blindfold.

HOWEVER - you only get this value as a franchisee if:

(1) the franchise has a healthy community & culture of reciprocity
(2) the other franchisees are good & competent people

In a very simple sense, is the franchise a club you want to join?

[The SEO Guy @theseoguy_]

if you are starting a brand new local service business

cold call owners on the other side of the country (so they aren’t competitors)

ask to pay them for their time

ask them what channels are working for them

invest in those channels

don’t over complicate things

[Zach Gordon @zachdgordon]

@phildstg Every customer I spoke to was loving it. Such a positive vibe!

[Zach Gordon @zachdgordon]

We’re live at the grand opening of Uptown Cheapskate St. George!

Community turnout is fantastic - hundreds of people showing up, many leaving with piles of clothes.

This is the 1st store for Phil, Des, Clark and Lisa Dana. Two brothers and sisters-in-law that make an incredible team.

Rare combo of easygoing and action-oriented. And so cool to see families working together.

Couldn’t be more excited for them!

[Zach Gordon @zachdgordon]

@RiderSS29er You all crushed it! Proud to work with you guys.

[Zach Gordon @zachdgordon]

@AdamMarkleySMB The way to be! We do the same with franchises - if people are considering our concepts vs others, we want them to have as much info as possible and find the best fit for them.