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The Pharmacy Business and People’s Access to Prescriptions During COVD-19 [Podcast]



Peachtree Pharm

How did one pharmacy owner navigate COVID-19 and still provide access to medicine for their clients? Dr. April Hang, owner of Peachtree Pharmacy joins Karl Barham and Rico Figliolini on the Capitalist Sage.

Phone Number: (678) 691-9079
Address: 5270 Peachtree Parkway, Peachtree Corners, GA 30092
Website: https://www.peachtreerx.com/
Social Media: @PeachtreePharmacy

Timestamp, where is the podcast to find these topics:
[00:00:30] – Intro
[00:02:33] – About Dr. April Hang
[00:04:21] – What Makes Peachtree Pharmacy Different
[00:06:09] – Business Impact of COVID
[00:11:52] – Getting into the Pharmacy Business
[00:16:02] – Dealing with Insurance
[00:17:01] – The Future of Pharmacy
[00:27:53] – Balancing Business and Home Life
[00:28:37] – Closing

We (work) for local patients and that way, you know, we can manage and keep that close
relationship as if they’re a family. Make sure everything’s okay.”

April Hang

Podcast transcript:

Karl: [00:00:30] Welcome to the Capitalist Sage Podcast. We’re here to bring you advice and
tips from seasoned pros and experts to help you improve your business. I’m Karl Barham with
Transworld Business Advisors and my cohost is Rico Figliolini with Mighty Rockets Digital
Marketing and he is the publisher of Peachtree Corners Magazine. Hey Rico.

Rico: [00:00:47] Hey Karl, great to be here. We might as well jump right into it and I’ll tell you
about our lead sponsor for the show, for the family of podcasts. And that lead sponsor is
Hargray Fiber. They are a large Southeast company involved in fiber optic cable, internet
connectivity. Don’t think of the cable guy because they’re not that. They’re a company that’s
right in the communities that they serve and providing variety of services, including that
connectivity to your team that’s out in the field teleworking. They provide it whether you’re a
small business or you’re an enterprise sized business. And they provide tools like smart office
that can keep your team working, both whether they’re in office or they’re out there at home,
wherever they are working for you and getting sales done and getting work done. So check
them out HargrayFiber.com or Hargray.com/Business, and find out how you can get your
thousand dollar gift card, visa gift card from them once you get involved with the company. So
we want to thank them for being our sponsor.

Karl: [00:01:51] It’s funny how so many people are operating from home, learning from home.
And so having great internet and fiber optics is super critical. So thank you for Hargray Fiber for
supporting us. Today I am honored to have Dr. April Hang who is the owner of Peachtree
Pharmacy right here in Peachtree Corners and Gwinnett County, Georgia. We’re gonna
continue on our series, talking with small business owners about navigating through 2020, the
pandemic and all the things that have been happening in our community. Dr. Hang, how are you
doing today?

Dr. Hang: [00:02:27] I’m good. Thank you for having me on the show. I appreciate and feel
honored to be here.

Karl: [00:02:33] Well, I’m just happy to have you. And the fact that you’re in the medical health
field of operating a business here is really important considering what this year has been like.
Why don’t you start off by introducing, tell us a little bit about yourself and why you got into
pharmacy career.

Dr. Hang: [00:02:52] Well, I worked at CVS as a high school student. And I saw the pharmacist
and you know, it intrigued me to see these crazy names and what they treat. So I just kept
wanting to learn more. Then I got into pharmacy school at Virginia Commonwealth University
and graduated in 2002. We moved to Atlanta in 2009, when my second child was born and I
continued working for CVS and when I was pregnant with my third child in 2011, that’s when I
said, okay, I’m just going to open my own business because I’m just tired of all the red tape.

Karl: [00:03:37] I could imagine so many people go through that same journey in opening their
business. What made you choose this area to open it and what do you find, what do you find
that you like most about being your own business owner?

Dr. Hang: [00:03:50] I actually got into business so I can have more time for the kids and more
flexibility. So I wanted to be able to have a stable income and have the flexibility to be there for
the kids. So it’s, you know, I knew initially it was going to be more time consuming, but then, you
know, as time passes it’s, you know, it’s a lot better now.

Karl: [00:04:12] Yeah, no, I appreciate that. Are your kids here locally? How many kids do you

Dr. Hang: [00:04:18] I have three children.

Karl: [00:04:21] Very good. Well, it’s so cool to be part of the community that you’re in. So you’re
operating you live in the community as part of that. Often people aren’t as familiar with some of
the independent pharmacy. I wonder if you could share with us some of the things that make
your pharmacies different than some of the chains like CVS, Walgreens and others.

Dr. Hang: [00:04:42] We compound at Peachtree Pharmacy, which is the biggest difference,
which is making customized medications for you or your pets or animals that you have. A lot of
the compounding we do right now is hormone replacement therapy and vet meds. So that’s one
main difference. We also do blister packaging, which I’m sure you guys have heard that Pillpack
was bought by Amazon and they’re trying to do blister packaging. We do that for local patients
and that way, you know, we can manage and keep that close relationship as if they’re a family.
Make sure everything’s okay, put in the right time position of their blister packs. So I don’t know
if you’re familiar with what I’m talking about.

Karl: [00:05:30] No, I am a little bit, but it’d be interesting. Have you seen more need recently for
being able to provide that more customized service to your customers?

Dr. Hang: [00:05:45] It really depends on where they’re living. If they’re in a personal care home,
then they, it’s mandatory that they get blister packaging. If you’re still living at home, it’s a
personal choice to have that convenience. So you’re not filling your medicine tray yourself. So
that’s an advantage that we have.

Karl: [00:06:09] Excellent. Well, I’m curious to ask you a little bit about this year and when the
news of the pandemic started coming out. When did you first hear about it? And did you think it
was going to have an impact on your business initially?

Dr. Hang: [00:06:27] I actually did have an impact as far as PPP goes at the beginning. We had
a program where it would upload things onto Google saying we had certain things like M95
masks. So we had a lot of questions about M95 masks and, you know, hand sanitizers and
things like that initially. We also have increased deliveries now since the COVID and then
patients are asking me to go outside and give them their flu shots in their cars so they don’t
have to come in and interact.

Karl: [00:07:07] So, since this all started, where did your, probably your physical center in the
central service, did you close down at any point during?

Dr. Hang: [00:07:17] We did not. We just put procedures in place. Started requiring masks, just
following the CDC guidelines. There were people that, you know, embraced it and there are, of
course, people that are not embracing it or they’re against wearing masks.

Karl: [00:07:33] So now that it’s kind of normalized to some degree, if you want to call it that, are
there changes you’ve made in your business that because of this, that you’ve implemented,
that’s had an impact either on your employees or your customers?

Dr. Hang: [00:07:51] I don’t really feel like that it’s been impacted much. I mean, we did, like I
said, put up the plexiglass and made social distancing and one entrance and one exit. But as far
as the business goes, it’s been pretty stable. You know, depending on what’s coming out in the
news about COVID, sometimes they would say something about azithromycin so then all of a
sudden there’ll be a back order of that because it gets in the news or Plaquenil. You know, just
certain things, whatever the news says and all the physicians, they try to write for themselves,
you know, write for their families.

Rico: [00:08:40] As far as supply chain goes, were you finding yourself in need of certain
medicines or in short supply of certain things besides the masks and stuff like that.

Dr. Hang: [00:08:51] I know there was a shortage on Plaquenil for a while and azithromycin
because that’s the main two things they’re using to treat in the hospitals. But I think it’s
normalized now so we can compound it. I do have the powder where we can actually make the
Plaquenil in capsules.

Karl: [00:09:13] It’s going to ask for those, what are those used for? What are the treatments

Dr. Hang: [00:09:18] Azithromycin is an antibiotic. And then the Plaquenil is for like auto immune
usually like lupus. And this type of inflammation, auto immune diseases.

Rico: [00:09:33] So most medications, most prescriptions that have been coming to you, though,
you’ve been able to fill and all that? Pain medications, other things along those lines.

Dr. Hang: [00:09:43] Right, right. Yes.

Karl: [00:09:46] So I’m curious as you follow what’s happening with vaccines and some of the
treatments and therapies coming out, how do you prepare your pharmacy for an anticipated
demand when different drugs are, you know, getting approved or being, how do you manage
that process? What information and sources do you use to know what you need to have in

Dr. Hang: [00:10:12] We just follow the CDC guidelines. So whatever comes out, we try to follow
that. As far as like sources of medications or vaccines, everything is pending, so there’s no
nothing really credible out there. So I can’t really comment on it.

Karl: [00:10:30] It got it. Testing. Do you get involved with the testing that they’ve been talking

Dr. Hang: [00:10:36] We do not test at the pharmacy. There’s a little bit of fear with the staff, so
we don’t test. You know, they have small babies and families or their parents live with them. So,
you know, they have their, their personal consent, so I don’t enforce it. But I just make sure they
let the patients know where they can go and get access. I know that, you know, I have a contact
that can come out. They have a mobile bus and they’ll do both the nasal swab and the serology
test. And the difference is one tells you, you have it. And one tells you, if you had it.

Rico: [00:11:17] So antibodies you’re talking about or is that something else?

Dr. Hang: [00:11:19] Right. Correct.

Rico: [00:11:21] And there’s a place that does that here in Peachtree Corners even?

Dr. Hang: [00:11:25] Well, I can, I mean, I’m trying to get them to come out on, the mobile bus.
It’s actually with Dr. Heavenly Kimes and her husband, Dr. Damon Kimes. So, and yeah, they
are local and they’re reality TV people as well.

Rico: [00:11:44] We are in the reality show ourselves, right.

Karl: [00:11:52] This whole year feels like it’s been part of a reality show. For young people out
there that are thinking about businesses and careers to go with, what are some of the reasons
people might go into pharmacy, either owning or becoming a pharmacist?

Dr. Hang: [00:12:10] There’s so many different parts to the industry that people don’t know
about. There’s working for pharmacy manufacturers and you can be a medical science liaison
between, you know, the public or the hospitals and the pharmaceutical company. There’s PBMs,
pharmacy benefit management organizations that handle your insurance and tell you what
you’re going to pay for or not pay for. You can work for those companies. You can work for
wholesalers as pharmacists. The hospital, obviously, different areas of the hospital. And then
there’s something called closed door pharmacy, where they deam a list of packaging just for
senior facilities. There’s a lot of different avenues.

Karl: [00:12:56] What’s a good way for folks to get started if they wanted. If I was a young
person or if you were advising younger folks, high school, college, what are some things they
can do to start getting experience, to see if it’s a right fit for them?

Dr. Hang: [00:13:09] I know personally for me, we have students come in and ask to volunteer,
but there are some state regulations where you have to be minimum age 18 to actually be in the
pharmacy. You have to register with the state just to be a pharmacy technician. And once
you’re registered, then you can come behind the counter and kind of shadow and learn. You
know, I would just recommend finding a local independent pharmacy that would take, you know,
take you as a student or as a shadow.

Karl: [00:13:44] How was the prospect in the industry? Is there a shortage? Is there excess?
Trying to find people, has it been difficult?

Dr. Hang: [00:13:54] It’s actually excess in pharmacists at this time. So, you know, jobs are a
little bit harder to find. You know, people are graduating and then the salaries are going down
because of the abundance of pharmacies schools letting out students.

Karl: [00:14:11] What do you think drove that? Is driving that?

Dr. Hang: [00:14:15] When I went to pharmacy school, there was a shortage. So as time went
on, more schools opened up and you know, they started producing more students. And now it’s
just an overabundance of pharmacists.

Rico: [00:14:31] Do you think that, if someone wants to get into the business, right? The
pharmacy business, it’s intensive, I’m sure, investment to get into it. Besides you need someone
that’s licensed to do it.

Dr. Hang: [00:14:43] Right.

Rico: [00:14:44] Does it have to be owner licensed to be able to get into this business?

Dr. Hang: [00:14:48] No. You don’t have to be a pharmacist to be an owner of a pharmacy.
Rico: [00:14:54] Okay. And you’ve bee, I mean, Peachtree Pharmacy has been around for how
long has it been now?

Dr. Hang: [00:15:00] Six years now, since I opened the store.

Rico: [00:15:03] Remember we used to go to CVS and there was some issues about getting
how CVS handles certain types of medications and inventory. Unlike retail, they do not track
their inventory and they can’t even let you know they have certain things unless you come into
the store to ask them. So this is one reason we decided to come to Peachtree Pharmacy
because, it’s just we felt that we were talking to someone closer. More assistant. And it was just
a better experience. No drive-through, but that’s okay. You have to be aggravated with…

Dr. Hang: [00:15:40] Well, we come outside. Even though we don’t have a drive through, I’ve
been outside to bring people their prescriptions.

Rico: [00:15:49] And you guys deliver too.

Dr. Hang: [00:15:50] Yes. If it’s a parent and your child is sleeping in the back they’ll say, bring
my medicine outside. Like of course, no problem. So yeah.

Karl: [00:16:02] Well, what’s something about the business of pharmacy, that most people
wouldn’t know, realize about it. Is there anything that could make it surprising to folks?

Dr. Hang: [00:16:13] I think that the amount of time we actually spend on the phone with the
insurances, trying to get you your medicine is the most challenging thing. Just because a
physician writes for something doesn’t mean your insurance is going to pay for it. So then that
becomes an issue. It could be two, three days before you get your meditation. You’re just
coming out of the hospital and you might rebound and go back into the hospital so you had your
medication? So there’s, it’s just insurance is making everybody’s life hell.

Rico: [00:16:45] Yeah, and some of them will cover the generic, but not the brand right? And
some people want the brand versus the generic because they feel maybe the brand works
better, right?

Dr. Hang: [00:16:56] Right. But you’re not allowed to have that choice with insurances.

Karl: [00:17:01] So you managed to keep track. So now that 2020 is kind of continuing, I’m
curious about looking forward to the future. Do you see things that you can do differently or, as
you go into the future with your business?

Dr. Hang: [00:17:19] I think I learned, since a couple of years ago, I had a senior coming in my
store, this is somebody’s grandmother, somebody’s aunt, sister, cousin, you know. And she
handed me a prescription for marijuana. And it said a ratio of 1 to 30. And it’s one dropper at
that time for dementia. And I didn’t know how to help her. And I felt so bad when I can’t help
someone, I feel really awful. So, I got on the phone. Put her son on the phone who was in
California and he was really upset and he’s like, where can I send her to get this? She really
needs, it helps her stay at home by herself, it helps her with her daily activities or activities of
daily living and things like that. And I was like, all I could do was apologize and say I don’t have
an answer for you because we’re in the Bible belt. You’re out in California. It’s different.
Karl: [00:18:27] So, what is, are you able to, provide CBD or medical marijuana here in
Dr. Hang: [00:18:35] Medical marijuana is not accessible. CBD is very accessible anywhere and
you can get it from gas stations, to the smoke shops and, Peachtree pharmacy. You have to
educate yourself. You have to understand what the effects are. It can interact with your
medications, you know. Depending on how much you use, there’s the risk of having a positive
drug test. So it’s just, you have to be able to educate your patients on the proper use.
Karl: [00:19:14] Where would folks would go to learn more about that? Like, let’s get educated
on some of the benefits. What treatments for that? Is that a conversation with the physician?
Are there online sources for information?
Dr. Hang: [00:19:28] Honestly, I am on this thing right now where I want to educate other health
care professionals about it. Because most of them don’t really know. I mean, there’s so much
out there. There’s a DNA test you can do to let you know what ratio is best for what condition.
So they have that for, you know, general, big pharma medications, but they also have it for the
CBD and PAC as well.
Karl: [00:19:55] So does the doctor have to write a script for that or is that something people can
come in and get without a prescription from a doctor?
Dr. Hang: [00:20:05] They can come in and get it at Peachtree pharmacy. It’s just a, it’s actually
a cheek swab and it’s from a company called Endocanna out in California, Los Angeles. And so,
kind of met them at a conference and kind of partnered up. Because I wanted to be able to offer
a kind of service for all the patients not just big pharma meds. But offer, you know, all the
benefits of CBD that’s emerging on market right now.
Rico: [00:20:36] And April, you’ve been involved with some of the politicians in the area too,
right. Lobbying, but so bunch of legislative work. So who have you been working with and how
is that going?
Dr. Hang: [00:20:49] I actually am not officially a lobbyist. I’m officially a constituent. So when I
go there, I’m going for me personally, as a pharmacist and not representing any company. But
you know, the intentions I have to help people. So when they were talking about access to
medical marijuana, I did speak and say, you know, you have to have pharmacists involved,
make sure that they review everybody’s meds because there are drug interactions. And, you
know, they don’t teach you that in pharmacy school. All the knowledge I have, it’s stuff I’ve read
or just learned about.
Rico: [00:21:28] Really? They don’t teach you about it?
Dr. Hang: [00:21:31] They don’t teach you about Marijuana in pharmacy school.
Karl: [00:21:37] Not in the classroom. So what types of treatments or things that people are
coming in for CBD and similar?
Dr. Hang: [00:21:53] We have like this CBD oil. I don’t know if you can see.
Rico: [00:21:59] Is that peach?
Dr. Hang: [00:22:01] Yes. It’s peach relief CBD oil that we sell. We have capsules, we have
topicals. We have dog treats, you know. And soon to come we’ll have get goodies products in
the store.
Karl: [00:22:15] What types of conditions does it help with? What types of patients would find
this helpful?
Dr. Hang: [00:22:22] Honestly, any patient. With headaches, depression, anxiety, sleep
deprivation, you know, anything.
Rico: [00:22:33] And you said you do that, you say you do that DNA swab, and that’s supposed
to help with that ratio of medicine that you’re able to apply right?
Dr. Hang: [00:22:46] Right. So in a perfect world where I see the future going is that, you’ll have
this DNA tests and then you have to have more customized medication that works for you
based of your genetics. So you know what your body can process and not process. Because if
you don’t have the enzymes to get rid of the drug in your body, it is the beneficial test. But this
DNA tests are very expensive.
Rico: [00:23:17] Yeah. I don’t think most people realize that. Yeah, most people, if I’m not
incorrect, don’t realize that medicine even antibiotics or mainstream medicine that people hear
about only work on a percentage of people. They’re not, you know, people assume that they’re a
hundred percent effective, but no medicine is that way. And they’re usually, probably only 80%
Dr. Hang: [00:23:38] Right, right. And your body can only absorb so much. So like on CBD oil, if
you take or consume any kind of CBD product, you only absorb 6%. And I don’t know where I
read that, but that number is in my head.
Karl: [00:23:56] Does it matter, like, you know, proportionate to the size of the person or is it just
their genetics in there.
Dr. Hang: [00:24:02] It’s their genetics, like you have in your body, what they call the
endocannabinoid system. And so that’s CB1 receptors and CB2 receptors. So CB1 receptors is
your central nervous system. And that’s where THC, that’s where the THC usually binds. And
that’s why you have the psychoactive effects. However, with the CB2 receptors, that’s more on
the peripheral, the body and the organs. So if you have some kind of inflammation, they’ll help
you and kind of get back to normal and get to homeostasis.
Karl: [00:24:38] Wow. Well I know there’s been a lot of different folks that are providing that. You
mentioned gas stations and so on and…
Dr. Hang: [00:24:47] Right.
Karl: [00:24:48] Do you know if they’re doing anything to kind of gain greater control because
there could be contamination. There could be, you don’t know what the source is, is some of the
risk that I’ve heard about. Can you tell me a little bit about some of the risk factors of procuring it
in the wrong place?
Dr. Hang: [00:25:06] Well, there’s a lot of mislabeling. I know like if you have a CBD product and
you’re not sure that it says what it says on the bottle, you can actually send it to Georgia
extracts and they’ll test it at UGA and Athens and let you know what’s inside.
Rico: [00:25:27] Because this is not prescribed or anything. There’s no FDA approvals, there’s
no Georgia State quality control of it?
Dr. Hang: [00:25:37] There is the farm bill and that’s just with the hemp flour. But I honestly
haven’t read the entire farm bill, so I couldn’t comment too much on. But I know it’s to help
regulate the actual growing agriculture, like keeping pesticides out of it.
Rico: [00:25:53] Right. Do you see, April, do you see whether, if marijuana becomes legal in the
state of Georgia, at least medicinally legal, if not recreationally legal, do you see that as
something that Peachtree Pharm would be selling? That, you know, alongside the CBD oil and
Dr. Hang: [00:26:17] It’s actually in the bill HV324, and you know, when, when the state gets the
infrastructure set up, there’ll be sold at certain specific pharmacies and how they decide that will
happen after they set up the infrastructure for access.
Rico: [00:26:37] Well, so every pharmacy or just certain pharmacies?
Dr. Hang: [00:26:41] My understanding, it’s going to be certain pharmacies. They’re right now,
they just hired an executive director to create the infrastructure for oil. And so once that gets set
up and people start applying and they start growing, while they’re doing the cultivating, they’re
going to decide or the pharmacy is going to decide. Okay who, which pharmacies?
Karl: [00:27:10] I mean, if you look into the future, how big can that industry you think get? I see,
I hear a lot of different, you know, ideas around a widespread, people might use it for all
different applications. Have you thought about how big that could be and how it might impact
your business?
Dr. Hang: [00:27:33] Honestly, it would help people get off their medications. So I mean, if
people would learn a little more about it, they can probably reduce their medications. But they
have to make sure, you know, the doctor knows. The doctor is educated or the pharmacist is
educated or the nurse.
Karl: [00:27:53] Well, I know as we look into the near future, people are being impacted because
kids being home and everything else. How are you balancing all of the demands on you?
Business, your family, have you figured out things to help you manage through this strange
Dr. Hang: [00:28:13] I mean, I, you know, I’m lucky and I have a supportive family. I have my
parents living with me and then my husband is very supportive. So, you know, I’ve been lucky.
I’ve been able to, you know, go back and forth and stay home if I need to. So I’m just home
more. I miss going to the movies.
Karl: [00:28:37] Yeah, I think we all do, but when I hear that they’re starting to open up in some
locations and getting back. But between that, sports being thrown off schedule, I don’t know
what part of the year we’re in sometimes based on all of that. Well, I want to thank you so much
for joining and talking a little bit about, you know, the impacts of the pandemic on your business.
Help educate us a little bit about CBD oil and the alternatives that are available. More than
anything, I consider you and your staff are frontline, first responders. People needed help and
through this year, they needed to get their medications and it’s small business owners like
yourself that I’ve done just a great job of keeping people well as best they can. So if you haven’t
been thought, thank you from one of your clients. I like to do that for that. Well, how would folks
reach out? Why don’t you tell us your address and how they can find you social media phone
number? Just if you want to reach out and learn more.
Dr. Hang: [00:29:55] Our phone number is (678) 691-9079. Our website is
www.PeachTreeRX.com. We’re also on Facebook, under @PeachtreePharmacy, and also
Karl: [00:30:13] And what’s your address and where would we find you here in Peachtree
Dr. Hang: [00:30:18] It’s 5270 Peachtree Parkway where the new Lidl that just opened up in that
shopping center.
Karl: [00:30:26] Well, absolutely while we definitely encourage folks to take a visit to Dr. Hang
and her staff, and, you know, just want to thank you again for being on our show today.
Dr. Hang: [00:30:36] Thank you, I appreciate it.
Karl: [00:30:38] You’re welcome and stay safe please. Well, I’d like to just segue into what we
have coming up. We’ve got more of discussions as we talk about the end of 2020. We’re going
to have some podcasts talking about, you know, what do you do now as you’re getting to the
end of the year to grow your business. And so stay tuned, follow us on all of our different
channels. I’m Karl Barham with Transworld Business Advisors of Atlanta Peachtree. Both myself
and the rest of the folks on my team, we help talk to business owners, help them figure out how
to improve and grow their business, whether it’s through acquisition or for those that are ready
to do something else, how to exit their business. Feel free to reach out to us online
www.TWorld.com/AtlantaPeachtree, or you can email me at KBarham@TWorld.com. Rico, why
don’t you tell us about what you have coming up?
Rico: [00:31:41] Sure. We’re working on the next issue of Peachtree Corners magazine. And
we’ve got a strong set of stories, hopefully coming in there. We’re actually doing a pet and their
people issue as well. So we have a giveaway that just started running today and 3 winners,
$700 in prizes. Submit a picture of yourself and your pet, and you’ll probably get into the
Peachtree Corners Magazines next pull out in the next issue. Plus, we’re doing the story about
backyard retreats, you know, everyone’s home there during COVID-19. So if you have a fire pit,
you have a beautiful backyard, we’re checking out five of them in Peachtree Corners and we’ll
share where those are and what they look like. And we’re asking 50 people almost, we’re
asking everyone actually and hopefully we’ll get 50 of them, about what they’re thankful for this
year. Besides, you know, we’re thankful for family and friends, for sure. But what also are we
thankful for during these times. So we want to find that out. Remember, this is the October,
November issue. So we’re doing Halloween and Thanksgiving. Yeah, so that’ll be fun. So we’re
working on that. So if you guys want to check out the last issue, which April was part of that last
issue, she was one of several people we profiled when it came to diversity in our community.
You can find that online at LivingInPeachtreeCorners.com. Follow us on
@PeachtreeCornersLife, the Facebook page, where we’re doing these podcasts from. Our
YouTube channel you should subscribe to that as well, because this way you can get alerts
when we go live there and when there’s more videos posted there as well. And you know, I do
work with a lot of different companies handling their social media, video production, whether it’s
product videos or other types of production work, and obviously producing podcasts as well. So
you can check me out at MightyRockets.com for that, or find me on LinkedIn or Google my
name because there aren’t that many people called Rico Figliolini. You can find me anywhere.
Karl: [00:33:39] Well, thank you for all that you do. And please do check out the magazine
online. There might be some still out there to pickup if you haven’t and just keep up with what’s
going on in the community and get to meet and learn the folks that make up your community.
Thank you again, Dr. Hang for joining us today. Everyone have a great day.
Rico: [00:34:01] Thank you.

Continue Reading


Pets & Their People: Giveaway results



Pets. They are the members of the family that love the deepest, smile the brightest and enjoy life to the fullest. One positive side effect to the call the stay close to home has been spending more time with our furry loved ones, or those with tails, scales and other fun features.

So now seems as good a time as any to celebrate the pets of Peachtree Corners. We had an open call for our Pets & Their People giveaway, in which local people sent in photos with their pets having family time and adventures. We’ve included a select number of the submitted photos on our pages. Three submissions were chosen at random to receive prizes.

The Pets & Their People giveaway was a great success, and we heartily thank everyone who sent in photos. We especially want to thank our wonderful sponsors, Pet Suites of America Norcross, and The Ark Pet Spa & Hotel Doraville who provided gift cards. Peachtree Corners Magazine supplied Visa gift cards.

To see the full submission gallery, visit livinginpeachtreecorners.com/petsandtheirpeoplegiveaway2020/

Winners of our Giveaway

Laura Lucas received the Grand Prize, a $150 gift card for Pet Suites of America and $125 Visa gift card (pictured the Purdins with Kodiak (Kodi))
Michelle Wilson got the Second Prize, a $150 gift card for The Ark Pet Spa & Hotel and a $100 Visa gift card (pictured Michelle & Bear, a 5 year old rescue from Angels Among Us Pet Rescue)
Andrea Z. Dubsky took the Third Prize, a $100 gift card for Pet Suites of America and a $75 Visa gift card (pictured Andrea and Aubryn)

This year’s Giveaway Sponsors

Continue Reading


How to increase the value of your business, grow it and sell it, with Andrew Cagnetta



Transworld Business Advisors - Andrew Cagnetta

Andrew R. Cagnetta Jr., CEO of Transworld Business Advisors shares his insights on how to increase the value of your business, fatal mistakes sellers make, expansion through acquisition and franchising – and why it’s important to do charity work. Cagnetta joins Karl Barham and Rico Figliolini on the Capitalist Sage podcast. Recorded socially safe from City of Peachtree Corners, Georgia

Related links:

Finding the topic in the show via Timestamp:
[00:00:30] – Intro
[00:02:43] – About Andy and Transworld
[00:04:21] – Challenges of DIY
[00:05:27] – Impacts in the Value of Businesses
[00:10:07] – Growing through Acquisition
[00:13:11] – Buying Businesses
[00:16:54] – Funding Acquisitions
[00:20:02] – Supporting the Community
[00:21:57] – Diversity in Business
[00:34:41] – Predictions for 2021
[00:36:51] – Recommended Media
[00:38:42] – Closing

“I mean the perfect way to describe business brokerage is like a realtor. You hire someone to
help market and sell your house and deal with the buyers and take the whole process from start
to finish. We’re a lot like that. We come into a business owners world. When they think about
selling their business, we help them understand what they have to offer the marketplace and
what they might get in the marketplace.”

Andrew Cagnetta

Podcast Transcript:

Karl: [00:00:30] Welcome to the Capitalist Sage Podcast. We’re here to bring you advice and

tips from seasoned pros and experts and help you improve your business. I’m Karl Barham with

Transworld Business Advisors. My cohost is Rico Figliolini with Mighty Rockets, Digital

marketing and the publisher of the Peachtree Corners Magazine. Hey Rico, how’re you doing?

Rico: [00:00:47] Hey, Karl. Good, thanks. Hope you’re well.

Karl: [00:00:51] Well, why don’t you introduce our sponsor before we get started?

Rico: [00:00:55] Sure. Our lead sponsor is Hargray Fiber. They’re a major Southeast company

that is involved in fiber optics and IT. They’re involved in the communities that they are in

completely. Like in Peachtree Corners, for example, they’ve been involved with Curiosity Lab at

Peachtree Corners, the Smart City activity that we do, and the work that people need to be able

to keep working. Whether you’re distance working like teleworking, or you’re bringing your team

together at your office and such. So anytime you need IT work, fiber optics, smart tools to be

able to do your work, fiber optics and all that, that should come from Hargray Fiber. They’re not

your typical cable company. You can find them at HargrayFiber.com/Business. Check them out,

they have a promo going on. It’s a thousand dollar gift card for those companies that qualify and

become clients of theirs. So great people. We appreciate them sponsoring us.

Karl: [00:01:51] Thank you very much for introducing Hargray Fiber. As we’ve all gone digital

this year, schools, work from home, having high speed internet at home is really super critical.

And we’re just glad we have great partners in the community that can help with that. Today’s

guest, welcome to the bring in Andy Cagnetta who’s the CEO of Transworld Business Advisors.

One of the world’s largest business brokerage firms and has been around for over 40 years and

built a great fabulous business. But the treat of today is, he’s here to help talk about how

COVID-19 and how small business owners can think about the value of their business, their

options on when they’re ready to exit for the business going into the future. Hey, Andy, how are

you doing?

Andrew: [00:02:40] I’m doing great. How are you both doing? Thanks for having me.

Karl: [00:02:43] Thank you so much for joining us today. I want to start off, why don’t you tell us

a little bit about yourself and how you got to be in this business brokerage industry?

Andrew: [00:02:53] I got to be in this business brokerage industry a lot the way other people

have gotten involved is they were in business for themselves. So I’ve had several businesses

and I’ve started a couple. I bought one and I sold one. And so when I decided to move to

Florida, my wife wanted to raise her family where she grew up, we decided to buy a business.

And through that process, I met Transworld and was asked to be on the staff and kind of the

rest is history. I bought the company two years later.

Karl: [00:03:22] Well, this, you’ve been doing this for quite a long time, and you’ve seen several

ups and downs in the industry in general. Why don’t we start off by talking about what is

business brokerage and what types of people benefit from their service. And we can talk about

how the economic impacts like we’re having in 2020 impacts those business owners.

Andrew: [00:03:46] Yeah. I mean the perfect way to describe business brokerage is like a

realtor. You hire someone to help market and sell your house and deal with the buyers and take

the whole process from start to finish. We’re a lot like that. We come into a business owners

world. When they think about selling their business, we help them understand what they have to

offer the marketplace and what they might get in the marketplace, as far as value is concerned.

We package up that business. We advertise it. We deal with the inquiries, we put meetings

together, and eventually we get a deal done and we earn a commission from that.

Karl: [00:04:21] Fabulous. So historically, if somebody were trying to sell the business

themselves, there’s some challenges to do that. What would be some of the typical challenges

people do when you’ve seen them try to do it themselves?

Andrew: [00:04:33] They don’t have the capabilities to do it in knowledge, right? So they really

don’t know what they’re doing. And it’s certainly not a time when you have your, maybe your

biggest financial transaction of your life at stake to experiment on yourself. You know, it’s kind of

like doing heart surgery on yourself. You really don’t want to do that. You know, one wrong step

with the right buyer. You’re not going to get a deal done. The second thing, the big thing that

business owners need to focus on, and we talked a lot about this in, you know, valuing your

business. They don’t have the time to do this. And if they take time away from their business

and focus on trying to get a deal done. The value of their business decreases very, very quickly

and they won’t get a deal done or, you know, they won’t get as much as they could have if they

would have focused on their business.

Karl: [00:05:27] Got it, got it. So this year, a lot of business owners have gone under, have

been under a lot of stress. COVID-19 hit, and the year 2019 was a great year for selling

businesses, for doing businesses. People were generating record revenues, profit, and then a

year like this happens. To the average business owner that took, you know, has been impacted

in this and is starting to come out, how does a year like this impact the value of their business?

Andrew: [00:05:59] So the, you know, the horrible news is right, this crisis has really hurt a lot of

businesses. And the only thing that I can urge business owners out there to do is try to survive.

Because if we get to the other side of this, if we get to a point where there is no COVID around

and business returns to somewhat normal. But let’s say it turns to 2018, 2019 levels, or even

less than that. You know, a little bit less than that. The values of our businesses will immediately

return. Because a business is worth what a buyer will make in the future. And if we could point

to the first three months of 2020, or even now, you know, like some restaurants are now

opening for the first time in a hundred percent capacity. So if they recover now, their business

will immediately be worth as much or even more. You know, I could see that the restaurants that

are better survive this and everybody starts to go back out once the vaccine comes along, I

think it will be, you’ll have a hard time getting a table at a restaurant. And they might even be

worth more. So, you know, the number one thing is you got to hang in there, right? And if you

hang in there, you know, the COVID crisis is like a lot of it. It’s a blip, you know, it’s a quick

downturn there will be recovery, or at least somewhat of a w. But, if they can hang in there, the

business value should return.

Karl: [00:07:30] That that’s a good point you’re making around hanging in there. But when

businesses have this lower period of demand, like over the month, if they’re not, what are some

things that business owners can do to make their business more valued when the clients and

the customers come back? What are things that they may not have had time to work on in the

past, but now they may have time to do? What would be some things that would help that


Andrew: [00:07:55] Well, you know, we always say, I have this talk and we don’t have time for it

today, but the 12 ways to increase the value of your business. And three of them is to keep

better books and records. So if you did not, before this COVID crisis hit. This is a great time to

get your inventory into an inventory system, to get a point of sale system implemented. I was

just talking to a listing that I have now, for a restaurant that didn’t have a point of sale system.

And he’s like, maybe it’s time I do it. Yeah, maybe while it’s slow and you get all your menu

items onto a point of sales system, then you’re going to have great books and records. And

great books and records will help your business sell much easier. So it is a time to kind of

structure your business and get that inventory system or that project management system or

that POS going right now.

Karl: [00:08:53] One of the other things I think is often a chance is when people stay really busy,

they don’t focus on the people in their business, their managers, supervisors, and so on. Can

you comment on the value of having a really good Lieutenant or someone that can continue to

drive the business once you exit it from the perspective of a buyer?

Andrew: [00:09:14] Yeah. I mean, you certainly don’t want to be the chief cook and bottle

washer because if you’ve ever read the E-Myth book, what you want to do is you want to have

that systems in place that is going to continue to bring in that money and those earnings.

Businesses are based on value of earnings. And the buyer is only going to pay a multiple of the

earnings if they think it’s you gonna stick around. Well if you’re the whole reason why the

business goes. And you’re the, you know, you’re the marketing officer and you’re the person

who’s the sales person and you’re the operations person. Then buyers are going to be very

hesitant to take over that job. If you have good people in place where all a buyer has to do is

come in and basically be a management person and oversee a system that is, you know,

running like clockwork. That’s going to increase the value of your business immensely.

Karl: [00:10:07] I’ve been talking to a couple of business owners that’s doing something

counterintuitive. During this year they’re actually growing and they’re growing through

acquisition. We see a lot of businesses that are consolidating and struggling. What are some of

your thoughts of those that are able to grow through acquiring other businesses during this time

or be beginning to scale? How does that impact the value in the future of the business?

Andrew: [00:10:32] Well, listen, you know and I know that businesses are valued based on their

quality and quantity of their earnings. So as a business earns more money, it’s worth a higher

multiple. So if a business earns a hundred thousand dollars, it may be worth two or three times.

If a business earns a million dollars, it could be worth three, four, five, maybe even six times. So

as the business grows, if you start acquiring people, and you get a hundred thousand dollars

here and $200,000 of earnings here. And you get those economies of scale and you get a

business that’s earning a million dollars, you’re going to make four or five times more. So this is

a great time to go around. And even, you know, I though that would be much more opportunity

for buyers, because I thought there would be a bigger COVID discount out there. I’m not seeing

it yet. I mean, you know, obviously earnings are down and prices may be down. But if the

business is currently making even 80% of what they used to do, or even, you know, 70%, those

businesses were still selling for, you know, good price.

Rico: [00:11:45] Let me ask you something. As you were talking about multiples and

acquisitions, what hit me was, does it, is it more, is it easier? Is it a better investment to

purchase multiple franchises let’s say if the, obviously of the same business in a variety of areas

than it is for a company that’s a sole owner looking out for similar types of companies to bring

them in under their fold. So, you know, if you’re a franchise owner buying more or if you’re a

single, you know, dry cleaners looking for other neighborhood dry cleaners. I mean, where

would the best investment be?

Andrew: [00:12:22] Well I, you know, listen I, the franchise system usually is a good system

because you know, what we try to do at Transworld is we’re building out infrastructure so people

don’t have to build it out themselves. So if you could buy a multi franchise units, you know, that’s

a great investment, right? So, you know, you always want to spread out your risk. So if you have

one unit that makes a lot of money, you know, it could be inherently risky. I mean, something

could go wrong in that town. Something could go wrong on that road. I mean, I’ve seen

businesses being on a road and they’d decide to redo the road and it’s you know, it’s closed or

almost closed for six months and it just ruins the business. So, multiple locations in any

business might be a better risk, so you can spread out that risk.

Karl: [00:13:11] I want to flip over to the buyer side. If you’re a person out there, maybe you

were in corporate America, maybe you’ve got an entrepreneurial itch that you want to scratch.

What would be some advice you’d give to folks when they’re looking for business so that they

actually get to the closing table and get the deal done?

Andrew: [00:13:29] You know, don’t have paralysis by analysis. And it’s, you know, you could

dive into these things, try to set up eight billion spreadsheets, and you could try to figure out

what the exact value of a business is. But I always laugh. The value of the business is going to

be determined by the sellers you know, factor of how bad they want to get out, right? I, you

know, I spoke to a seller yesterday. They had a business that’s earning $350,000 and we told

them, our franchisee told them that it was worth 700 and he says, get 450 and get me out quick.

Some buyer is going to get a great deal on that business. And so it’s always a factor of what the

seller will take to leave. But you know, if you’re going out there to buy a business, I would just

say, you’ve got to go do it. And number two is you’re not going to find the perfect business. If

you’re looking for that perfect business, that dots all the I’s and crosses all the T’s, you’re not

going to. As I say, it gets an ‘A’ on it’s report card in every single subject. That’s not going to

happen. There’s no perfect business out there. So, you know, what you want to do is you want

to buy a good business at a great price and make it great by bringing your talent to it.

Karl: [00:14:44] I’m talking to a lot of private equity and family and all these different types of

investor groups that are looking at business. And one of the things that’s always a challenge, I

could literally guess what they’re going to ask for in their business. They send the sheet in and

they’re looking for something with X amount of cashflow. They want it to be pretty much

absency run. There’s this laundry list of stuff, but they’re industry agnostic and they don’t have

an industry that they care about. What advice would you give to those types of folks to be more

successful in their search? Often they’re searching for three, four years and no deals have been


Andrew: [00:15:25] Yeah. I mean, you know, I’ve talked to some private equity groups and they

told me they look at it, and I think it was on our podcast they were talking about, they look at, it

was something ridiculous, like 1,200 deals a year or two thousands of deals a year. And they

transact on two. You know, they’re very picky. I would tell them that they need to be less picky.

We had a, you know, there’s these guys who come out of very smart business schools, Ivy

league and things, and they start these pledge funds where they get their friends, families, and

people they’ve met along the way. And even bankers that like these MBAs coming out of these

high end schools and say, if you find a deal, we’ll back you. Well, we did a deal with these guys

who they bought a painting company that was earning over a million dollars a year, almost $2

million a year. But what private equity group do you know, would buy a painting contractor? Not

many. So these two young kids, one of them, Harvard grad, I forget where the other one

graduated. Bought a painting contractor almost $2 million. And I think they bought it for like less

than 6 million. So here’s a great deal, but it’s going to be a little bit. You know, it’s not going to

be the easiest business to run. And that’s be their first deal. You’re know, then they’ll go into

something else I’m sure. So if you’re a family office that just got their money because you’re

patriarch or matriarch of your family died, you’re not going to be able to be that picky.

Karl: [00:16:54] I’m curious this year, there’s been a lot of stress on the lending and banking

with SBA between the CARES act, PPP, EIDL Loan, they got backed up. How are you seeing it

now for acquiring funding to purchase business and what should business owners now start

thinking about as options to fund acquisitions if lending isn’t as readily available?

Andrew: [00:17:19] Yeah. We saw this in 2009, in 2010, when we’re in Florida, we did, you

know, we were doing about 20% of our deals with SBA lending and then the next year, which

equated to about 50 deals, 40 deals. The next year we did two deals with SBA lending out of

hundreds. So the problem with that is the banks get scared of course. They’re not going to fund

the business that has falling revenues and profits. They’re going to want to see it be able to turn

around. I think it’s a little different this time. In the fact that we really didn’t know when the 2009,

2010 economic downturn would end. This one there’s a little bit more certainty. I know there’s

uncertainty, but we all believe that this is going to go away by mid next year or even 2022. So I

think if a business can show and everybody’s asking for the latest financials, don’t talk to me

about March and April. Show me you’ve done this summer. Show me what you did this last

quarter through September 30th. If they can show that they’ve somehow pivoted, recovered,

you know, right-sized the ship so they have earnings, I think you could get financing. But if you

can’t, which is going to be the majority of the businesses, you’re going to have to have seller

financing and earn outs. And you know, that’s a bad word to sellers, but it’s just the reality.

Karl: [00:18:46] For those that may not know the difference between a seller finance or an

earnout, can you share what that is for business owners that may not?

Andrew: [00:18:55] Sure. A promissory note or, you know, seller financing is a certain amount of

money. Say I got, you know, I got $500,000 or a million dollars for my business with half down,

or half and the rest of it in promissory note. The promissory note would say, when you get your

payments, how much the payments are, and you know how long the note is. If you get an

earnout, the earnout it’s going to be contingent upon the business metric. Whether it be sales,

earnings, gross profit, we like gross profit. And we can talk about that someday. But so, but it

can be variable. And a lot of times this works for sellers and buyers, because if there’s this

inherent risk in the marketplace and the seller’s like, listen, if I just had more cash then I could

get to 2022, this business is going to take off again. I really deserve more value. Well, okay.

Well, if you’re right in 2022, it’s 2023 and even 2021, if it’s going to go up, I’ll tell you what, I’ll

give you 25% of the profits, you know, based on this. So it’s variable and it can not happen at


Karl: [00:20:02] There’s so many creative ways to construct a deal that could work for both

buyer and seller. If I could ask you a little bit, one of the things that you shared with, with Ann

and I is, as a small business owner in the business, you’re in being involved in the community

and getting involved with different organizations and that. Can you talk a little bit around some of

the things that business owners can do to help support their community, especially in a year like


Andrew: [00:20:33] Yeah, I mean, listen, the great, one of the greatest things I ever did was sign

up to join the board of the local soup kitchen called LifeNet for families. And it’s literally changed

my life. And what people want to see in a person to do business with, people want to do

business with people they can trust and that they like. And to show that you’re trustworthy and

show that you’re a good person and become a trusted advisor in your community on anything,

people are gonna do business with people that do good. And I think that joining a board or

volunteering for a board or getting involved in whatever, you know, whatever cause you want to

get involved, it can really show the community that you’re willing to be a good partner. And I’ve

certainly chosen who I’ve done business with based on their nonprofit activities and them

helping, you know, be a good part of the community. So, yes, I’ve been involved with the junior

achievement and the United Way most recently, I was just rolled off as the chair of the United

Way. And it’s been an honor and I’ve learned so much from it. I have so many great friends and

I’ve gotten really good business and I didn’t start by saying, Hey, I need to give back to my

community because I want to do more business. That wasn’t the start, but it certainly has been

very valuable to us.

Karl: [00:21:57] This year I know, there’s a lot going on when it comes to diversity and social

justice issues out there in the community. I’m curious from your vantage point of looking at

business brokerage and so on, I’ve noticed that there’s a lot of brokerage firms that don’t have a

lot of diversity, a lot of women in it and so on. What are some of the things that are, that

might’ve been driving that and what are things that can be done to help improve that going into

the future?

Andrew: [00:22:27] It comes down to education and opportunity and giving people opportunity. I

have a great partnership with a friend. He’s the president of Broward college here, which is one

of the top community colleges. And he has a thing called Broward up and he realizes that, you

know, as a young man and he grew up in New York, he didn’t hear about college until he was

like in high school. And you know, other kids grow up knowing about college and other kids

grow up knowing about entrepreneurship and investing. And I think the big thing that we can do

is try to, you know, encourage those communities, give those, encouraging those communities,

exposure to our you know, exposure to our marketplace and opportunities out there and show

them out to do it and encourage them to do it. And there are going to be, I think, opportunities

moving forward for people. I think this is a great awakening of our society to say that, you know,

not everybody had an equal leg up. Part of why I’m involved in charity is because I do believe I

had privilege. My college was paid for, I was, you know, I was never discriminated against really

in my life. I mean, and so I want to be able to give those opportunities other. And I think that

Transworld, you know, we already have models of it, right? Just think about the immigrant

populations and what they do. They’re buying the convenience stores, they’re buying the hair

salons, they’re buying these small mom and pop businesses. Maybe, what we need to do is go

in show others that they can do that, even people who aren’t immigrants, and teach them how to

grow and multiply those businesses. Perhaps like we were talking about earlier franchising.

Karl: [00:24:17] Absolutely. I think that’s a great point. I think giving access to opportunity and

knowledge about the option is a great point to start at. But then even continuing that further. You

described several things people need to know to acquire a business, how to get a loan, what

comes first in your search, what you can look for. Outreach to different groups of people with

that knowledge could self close the gap. But I think we’ve got 20 years in which people have

gotten more education, people of color, women, graduating with degrees, graduating from the

Harvards and the Yales of the world. They’ve worked in corporate America for 20, 25 years.

They’ve accumulated some capital, but that last leap of jumping into entrepreneurship might be

the next step. And sometimes it may take mentorship or sponsorship or just someone that can

guide them down the path a little bit further if we could do it. If there was one thing you can

magically do to help really drive that change in society. What would it be? Where would you


Andrew: [00:25:19] You know, think about all the things that have been successful. Like pell

grants and getting people small business loans and minority statuses for businesses. I think we

need to take all those things and we’ve got to multiply them by 10, right? I mean, and you just

said it, you know, there’s been opportunities over the last 20 years for some people to break

through that we have to take those examples and we have to multiply by 10 and we have to give

awareness. You know, I’ve been on, one of the things that I want to do moving forward for

Transworld is be a part of that. Be a part of that, you know, fight against structural racism and

understand how do we beat that? How do we help those communities, you know, become

entrepreneurs? You know, there’s all these things, you know, that your success has a lot to do

with what your zip code is. I mean, just crazy things, and your color, as far as opportunities,

what your name is when you put your resume in. All these things we have to battle. And I think

at Transworld, we can be a part of showing people how to take opportunity. Educate them.

Because I think still, as we talked about earlier, growing your business through acquisition or

becoming an entrepreneur is still one of the best kept secrets. And one of the best investments

you can make, that’s really, people don’t even understand.

Karl: [00:26:45] I was on a conference call, go ahead Rico.

Rico: [00:26:47] I was going to say, I wanted to build a little bit about what your, what you were

saying before too about immigrant population buying into small businesses, about teaching and

mentoring. You know, my father came from Italy and he bought his own business. He worked

hard. But he worked hard before he bought that business, right? And I’m thinking, what people

need maybe is a little bit more, not just education, but that mentoring part, almost that

handholding, if you will. Because you find that in a variety of ethnic communities, right? I know

several friends in the Asian community where they help others within their community, actually

walk them through buying or setting up their own business, getting their finance for that

business and actually walking them through the whole process. And then bang, they open the

door. I mean…

Andrew: [00:27:38] You think about some of the ethnic communities that have come into certain

businesses and done well and you see that. And sometimes it’s a lot of businesses that people

don’t want to be in. The carwash, and sometimes it’s out of necessity. There’s you know, there’s

all kinds of studies about food deserts and things like that. But you think about those under

served communities, right? And you think about people like Magic Johnson going into those and

opening Starbucks and opening movie theaters and giving opportunities. But you think those

places needed small markets. So you know, out of necessity people can’t get jobs. People can’t

get food. They’re starting these small little businesses and we need to give them power. We

need to give them the ability to go to a better neighborhood and open up another business like it

and do well. You know, just think of all the, you know, the food and the service businesses and

you know, that they can do well. And you see pockets of that and we need to multiply those

efforts. And you’re right, Rico, my you know, my grandfather came from Italy as well, was an ice

and pole man. He had his own truck. And they worked really hard, but you know, I do think that

there was a difference. You know, we’ve been able to blend into the community and I, you

know, sometimes black and brown people do not have that opportunity, as we did.

Rico: [00:29:05] For sure. And I think also when you’re facing discrimination. It’s easier, I think if

you had your own business and empowered that way. Because you’re already past that point,

right? You don’t have to worry about discrimination and someone’s going to promote you or give

you more money for your job. Maybe you’re being paid less than the guy or girl next to you, for

whatever reason. But you’re making it on your own, right? You’re empowered to be able to,

based on the hard work you do and how smart you are.

Andrew: [00:29:36] I mean, here’s the really good news. I think, the really good news. I think it’s

easier to become an entrepreneur than ever. Just think of all the gig economy jobs that are out

there. And I just saw an article that somebody emailed me because of one of my, I had 20

predictions for the 2020, the next decade. I did not predict the CoronaVirus, but one of the

things I did predict is that the gig economy would eventually start selling their businesses. That

you know, that an influencer on Instagram could eventually sell her business or, you know,

somebody on tik tok will be able to sell their business. And, you know, I think that we have to,

we have to embrace that too. Right? And it has to start in elementary school and colleges. We

have to embrace, we have to teach people how to become entrepreneurs.

Rico: [00:30:36] For sure.

Karl: [00:30:38] I think you’re raising a good point. One of the things that I’d add to that, a

mentorship helps. The other thing is eliminating barriers. There are so many things structurally

in place that prevents people, whether it’s lending and getting SBA loans, whether it’s finding

and sourcing deals. When a good deal comes up, you have to know someone that knows about

the deals, make friends with a broker. So he’s going to follow him near his good deal. There’s

people that have that access to talent. Good employees. Good systems. And then there’s also,

there’s community too, sometime it’s the business associations, chambers of commerce, where

they network and a lot of information is shared. And access is given. And opening that up so

more people are welcomed or brought into those things so those opportunities are shared

among a lot more. So there’s definitely a lot of work to do, but I love that I’m starting to see

people become awakened to that. I see leaders like yourself, Rico. We’ve done several

podcasts about justice in the community and you did a fabulous job with the Peachtree Corners

magazine talking about diversity in Peachtree Corners. And we’re starting to talk about it.

People are starting to behave differently and reach out and start understanding people

differently. And I’d share with you an interesting opportunity that came through. And a business

owner came into my office. And didn’t know if his business had any value. And we did an

analysis and I said, you know what? He was contemplating shutting it down and retiring. 66

years old, ready to retire. He’s going to send out a letter to his customers and say that he’s

going to head out, you know, retire. But instead we said, you know, this business has value, it

generates a cashflow. And it’s a good, it’s a gig business, a gig economy business that he built.

And he only worked maybe four to five hours a week in the business. It sounded pretty good.

We helped him put it on the market and guess what? We got a couple of offers on it, but the

person that purchased it was a person of color. In the corporate, works for a corporation, but is

starting to think about that entrepreneurship. And helping navigate him through the path. We

ended up closing on that he’s able to own the business. But the interesting thing when they

came back, the two of them, one gentleman was black and they became good friends talking

afterward during the transition. And this is the first business this gentleman’s going to buy. He’s

going to buy others over time. And that’s sometime, it’s getting that first one under your belt.

Learning from the process and then being able to replicate that. And the best part is at the

closing, I got a picture of the buyer and seller, the buyers kids were there. So he’s setting the

example for his kids about entrepreneurship. And more of that needs to happen. We just need it

to happen faster.

Andrew: [00:33:31] Yeah. I mean, I think that’s exactly it. We have to multiply that by thousands.

And so I, you know, and so I think it’s kind of like what Broward college is doing instead of

expecting people to come to college, they need to go into the communities and bring the college

to them. And I think we as business brokerage community and as entrepreneurs need to bring

those opportunities to those neighborhoods. I mean, whether it’s talking at high schools,

whether it’s having buyer seminars, seller seminars. I mean, but just giving people those

opportunities, you know, right where they live. So…

Karl: [00:34:10] Well, I know in our community, both Transworld and business brokerage in

general, we have a lot of people out there that have the knowledge and skill. It’d be great to see

as more get involved in their community organizations. How can we help bring more people to

the table as part of that? So that’s going to be an interesting challenge that we could take on

and help this bigger picture as a country. So thank you for that.

Andrew: [00:34:39] Yeah, no, I agree.

Karl: [00:34:41] So predictions for 2021, Andy. If you were a business owner right now, when do

you start planning on selling your business and what are the things you should be doing fourth

quarter of this year, assuming that this will, this period of the world’s history will pass and we get

a vaccine and businesses start opening up. What are some of the things you think folks should

do this quarter to be ready for 2021?

Andrew: [00:35:11] You know, if I was wanting to sell my business in 2021, I would do

everything I could to acquire new customers. And you know, it is an opportune time. Just think,

you know, say again in the restaurant business, I would do anything I could to acquire new

customers. And I think you can, because if 20 or 30% of the restaurants that are closed right

now are never going to reopen, that means that there’s people out there and they’re finally

coming out of their houses. So I would immediately do anything I could to get those people and

get those revenues and earnings up. I mean, we have a restaurant for sale right now that’s

doing better than before the COVID crisis, because he has been marketing and doing a lot of

takeout and did the right thing. So I think there’s opportunities for any business owner to

continue to get more business. So number one, get more business and number two, have the

capacity to bring on more business in 2021. Because again, we’ll want to buy on the upswing

and no better time to have an upswing than when you had it. Well, you know, the chart can look

good over the next. I mean, if March and April were disaster for you, the rest of the year could

look good. And then into 2021 could look great. And that’s what I highly urge people to do. Like

Rico was saying earlier, you know, it might be a time to hire. It might be a time to hire that new

person that’s going to put you on social media for the first time ever. You know, it’s time to have

growth strategies. Certainly not to put the brakes on and put your head in the sand.

Karl: [00:36:51] You mentioned earlier the book, ‘The E-Myth’. Are there any other books you’d

recommend for business owners as they’re going through the journey? Especially if they’re

thinking about exiting in the next three to five years.

Andrew: [00:37:03] You know, I have my favorite negotiating book, which is ‘Never Split the

Difference’ by Chris Voss. And I like his style because if you think about selling your business

and you think it’s this high powered, ridiculous back and forth, you know, bloody negotiation, it

can’t be. I mean, it takes a long time to sell your business. It’s your baby. You’re selling it to

somebody else who wants it to be their baby. You can’t beat each other up through the process.

And we’re there to kind of referee that. So that’s one book I would suggest that they read. So

they don’t have that mindset that it needs to be this hard fought. It needs to be a good deal for


Karl: [00:37:43] Oh, fabulous. If you wanted to learn more online, is there, how can folks learn

more about this process and just, you know, buying and selling businesses in general for folks

on either side of that equation?

Andrew: [00:37:58] Yeah, sure. There’s a lot of stuff out there. I mean, you know, I know we’d

like to plug our podcast too, The Deal Board. We have almost a hundred episodes now and, you

know, it’s a great place to learn the ins and outs of buying a business. Obviously our website as

well, and you know, I’ll just throw it out there that we’re willing to sit down with people. We,

again, we want to be trusted. We’re here for the long term in your communities. We’re not here

just for transactions. We’re here to watch people be successful and help them be successful. So

just include us in your plans. Let us sit down with your investment advisor and your accountant

and your attorney and let’s plan out how we’re going to exit you over the next two, three years.

Karl: [00:38:42] Excellent. Well, Andy, I want to thank you so much for sharing a lot of great

wisdom. We covered a lot of terrain in this conversation today and, just really good to have

someone like you give your perspective and insight into what’s happening this year. And if I take

anything away, I think people should be optimistic about it. I think we’ve navigated the toughest

part of this, as a country, as a world. And if you own a business, it’s about putting your head

down, grinding, getting customers back, building your business into the future. And for those

that may, you know, be struggling or may not be able to open up. It’s a great time to find a new

business to buy or to invest in if they could. So I want to thank you for that. What do you have

going on? Do you have anything going on in this fourth quarter as we’re rounding out the year?

What’s keeping you busy?

Andrew: [00:39:35] Well, I, you know, I do have our big charity events, so my wife does one

called Peace Rocks. And so we have a kickoff for that. And again, we’re, I think this year we

usually have wide bands. So I think we’re doing a drive in theater this week. And tonight at the

same time, as that kicks off, I have my pasta dinner meeting, which usually happens in the first

quarter. We had a thousand people last year, we raised $268,000 for the soup kitchen. And

we’re just trying to decide how we’re going to do it next year. But you know, we’re going to do it

and we’ll figure out a way. And looking forward to that night. I just want to give you kudos, Karl. I

mean, the amazing thing that I had through my business journey is for great people to partner

with us. And I’m honored to have you and join in our franchise and, you know, amazing and take

what we believe is, you know, doing good deals for good people to other communities. So thank

you Karl, for being a great part of that and Rico, thanks for having me on. I appreciate it.

Karl: [00:40:36] If folks wanted to reach you Andy, what’s the best way to reach you?

Andrew: [00:40:41] Just at TWorld.com or AC@TWorld.com. It’s that simple. I’m all over the

place. So I’m sure you could find me. But, happy to talk to anybody.

Karl: [00:40:51] Well thank you again for joining us today. So that’s Andy Cagnetta. He’s the

CEO of Transworld Business Advisors, one of the world’s largest business brokerage firms, and

for over 40 years been doing good deals for good people. And just wanted to share insight on

what business owners can start thinking about as they’re going into 2021. Positioning

themselves for a successful exit, if they’re ready or even if they’re ready, acquire more and

become bigger and get that multiple up on their business. So thank you for that. I’m Karl

Barham with Transworld Business Advisors of Atlanta Peachtree. Our business is here to help

people, consult with them, help them figure out how to exit the business when the time is right.

And if you’re looking to improve or grow or through acquisition, feel free to reach out to myself or

anyone on my team. KBarham@TWorld.com is the best email, but also find us

www.TWorld.com/AtlantaPeachtree. And Rico, why don’t you tell us a little bit about what you’ve

got coming up?

Rico: [00:41:54] Sure. First I want to say thank you for bringing on Andy because dealing with,

you know, talking with you as a cohost on the show for what 50, almost 50 episodes. About 47,

48. I’ve learned a lot. So, and I’ve even adjusted my business a little bit because of what we talk

about on a weekly basis. So all good stuff. As far as what’s going on with Peachtree Corners

Magazine, we’re at deadline. We’re working through this deadline this week. It goes to the

printer on Monday. So we have quite a few articles and there’s some major stuff on backyard,

great backyard retreats, pets and their people. We just finished the giveaway we just had. So

we were going to be announcing the three winners on that. And we have a feature in there

about, thankful things. Things, people are thankful for. Messages from a lot of students, a lot of

parents in Peachtree Corners, that’s going to be a cool thing. Then, you know, we’re planning

the next few podcasts, certainly with Capitalist Sage and, city manager, and Peachtree Corners

Life. So there’s that. And of course, if anyone needs marketing, digital marketing, online content,

videos, you know, product videos, podcast production. Feel free to reach out to me. You can

reach me at Rico@MightyRockets.com or check out Rico figliolini if you could spell that on

LinkedIn. I’m sure you’ll, if you search it on Google, you can’t miss me. It’ll pop up somewhere

I’m sure. But LivinginPeachtreeCorners.com is the magazine website. You can find all the

podcasts there as well and everything about Peachtree Corners. So this is the place to go. And I

want to thank you again, Hargray Fiber for being a lead sponsor with us.

Karl: [00:43:32] Thank you everybody for tuning in. We got more great episodes coming up. Be

safe out there and get ready for the fall. It’s here. Take care everyone.

Rico: [00:43:42] Bye everyone

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First Package Store in Peachtree Corners Officially Opens



The Corners Fine Wines & Spirits celebrates with ribbon-cutting. Some things are worth waiting for, even if they do require jumping through multiple hoops. That surely was the case for the three business partners of Corners Fine Wine and Spirits. Sept. 16 was the day they finally cut the ribbon to celebrate the official opening of their long-awaited new retail package store.

The occasion also marked the very first such store to open in Peachtree Corners. The new city was just getting settled in as Gwinnett County’s newest city in 2012 when Gerald Davidson and his partners Stuart Cross and John Curry began formulating their plans. The first order of business was to secure enough signatures from residents so that a referendum allowing a package store could be presented to voters. The referendum vote in 2014 easily passed 1,394 to 492 in favor of allowing the city to issue permits for retail package stores in its city limits.

Then came scouting for a location. The first choice on Peachtree Parkway near what would become the Town Center wasn’t viable. Their second choice, located about 2 miles south was doable, but developing the site would take time. A new road had to be cut into a hill and the building site prepared.

On that September day, their patience and perseverance paid off as they celebrated the official opening of the 12,000 square-foot Corners Fine Wines & Spirits store surrounded by friends, family and supporters.

The celebration also included remembering business partner John Curry, who passed away earlier this year. The remaining owners, along with John’s widow, Libby, installed a plaque near the entrance to ensure he would always be remembered “as the heart and soul of this establishment.”

“These three businessmen are to be commended for their persistence,” said Mayor Mike Mason. “We applaud their efforts in following through the process. It’s taken a few years, but looking around the store, it was well worth the wait. We wish them great success.”

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