Wealthy Woman Lawyer Podcast, Helping you create a profitable, sustainable law firm you love

Davina Frederick: Hi everyone,
and welcome to the wealthy woman

lawyer Podcast. I'm Vita
Frederick. And today I'm super

excited because I have a client
of mine who's on Stacy curve.

And Stacy and I have known each
other for probably about three

years now. And I'm so glad that
I got to know her, she is an

attorney, she helps us our law
firm out in Wyoming Sheridan,

Wyoming to be specific, home of
the world's largest rodeo, I

think, and, and she, she has a
number of different practice

areas, we're going to let her go
into a little more detail about

how she serves her clients. But
I'm glad Stacy's here today

because she's not only going to
talk about her law firm and our

law firm growth, but we're going
to talk about a new venture that

she has been able to participate
in, and a path that she's

embarked on that I'm really
excited to share with you guys.

So welcome, Stacey.

Unknown: Thank you.

Davina Frederick: So why don't
you start out by just telling us

a little bit about your law firm
who you serve, how you serve

them? That kind of thing?

Unknown: Sure. Um, so we are
basically a general practice

firm, but we primarily help
people with criminal defense and

family law. I also practice
immigration and worker's

compensation, and then my
associate practices in

bankruptcy, as well as criminal
defense and family law. And then

we're in the process of hiring
another associate. And I don't

know what they're going to do.
But I guess we'll find out. And

so we're pretty small here. And
we stay really, really busy. So

Davina Frederick: we do, I think
to give people some context,

because I know it took, you
know, like you and I've had many

conversations about what it's
like to work in Wyoming, and

particularly where you are, and
it's very sort of rural and not

as populated, and legal
community is pretty small. So

give us a little bit of an idea
kind of what I think for people

in bigger communities there,
they have a tendency more to

specialize, but where you are,
you almost need to be a little

bit of a generalist, because the
population is so underserved

when it comes to legal services.
Right?

Unknown: Right. Um, so just for
an idea of size, Sheridan has a

little less than 20,000 people
total. So at least that's the

last time I drove by the
population size. So it is very

small. I mean, we do have a lot
of attorneys here and I buy a

lot, I mean, just for our size.
But in the surrounding areas, a

lot of people have been retiring
and kind of getting out of

family law specifically. So
there's really been a need for

that. And working here as an
attorney you you have to travel.

So I work all around the state.
I'm also licensed in Montana. So

I go to Montana a lot. Billings
Montana is only about an hour

and 45 minutes away from here.
So I go there regularly. And we

have to travel to Casper, which
is two hours away, Cheyenne,

just four hours away. Buffalo is
only 40 minutes away. Gillette

is about an hour and a half
away. And so those are the

places we regularly travel to.
And so the areas around here are

underserved. And so we have to
go we have to be willing to

travel. So as an attorney in
Wyoming that's just regular, use

half in the car and you go and
you travel, but we are able to

appear remotely for a lot of
things. So traveling is really

just for those important
hearings. But yeah, we do have

people call in for random
contract review, putting liens

on things, stuff like that, that
we just have to research and do

if we want right now we're kind
of busy. So we don't have to

take those cases and we can
refer them out. But yeah, we

really have to be able to take
on all areas.

Davina Frederick: Right? Right.
Right. And that for you that

really kind of suits you too,
because you also love the

variety of that from what you've
you and I've discussed to be

able to do, you know different
things and and, you know, break

it up a little bit so you're not
doing the same thing all the

time. You're, let's talk about
kind of where where you started

in your firm, how long you've
been practicing how long you've

had your own practice and and
some of your some of the things

that have led to your growth and
some of the things you've done

as you've grown. So let's start
is a lot of questions at once.

Let's just start with your how
long you practice and when you

started your What led you to
start your own practice?

Unknown: Sure. So I've been
practicing for We're about seven

and a half years now. And I
started out with a firm here in

Sheridan, I was there for about
four and a half years. And then

I decided to leave and open my
firm. So I was in January 2019.

So about three and a half years,
I think that is, um, and I, it

was just me for, I think, four
months or so then I was too

busy. And I couldn't handle that
myself. So I hired a part time

paralegal. And she kind of grew
into full time, because I was

expecting my third child. And so
by the time I had the child, I

wanted my paralegal to be full
time. And so she was kind of

coming back from maternity
leave. So that worked out well.

So she came on full time. And
then I don't know, I started

talking to you, cuz I didn't
know what to do anymore. Because

I became too busy. And so I
moved into having my paralegal

and a receptionist. I'm not sure
when that was, I think it was

before I was talking to you. But
I think it was about a year and

a half in. And so I had them.
And then I moved into a new

building, which is where I'm at
now. And I decided that I needed

when you told me I needed
another associate it and talked

me into that. So my associate
Jenna came on board a year ago

today, actually, I've been
trying to remind myself that to

tell her thank you for staying
for a year.

Davina Frederick: Well,
actually, actually, I think you

had. So first of all, just to
clarify, I did not talk to you

in anything. by you, I love you.

Unknown: I encourage you
understand that I needed that

help

Davina Frederick: you do that,
right? Because of one of the

things about Stacy is she has an
incredible work ethic. And she

loves to work. And so she will
work around the clock. And she

also has three little kids at
home. How old are kids?

Unknown: Um, my oldest is six,
my middle is four and my

youngest is two and a half

Davina Frederick: or half. Yeah.
So. So all of that was going on.

And I think when we met, you
only had really, I think you

have one person helping you. And
then you start adding staff and

stuff like that. It was a big
help. But I think one of the

challenges one of things I
didn't want to talk about was

you hiring an attorney because
one of the big challenges where

you live and I know this is the
case with some other clients of

mine who are in rural areas. And
probably some of the people

listening to this is that it's a
small legal community, and you

kind of already know everybody.
And a lot of people already

settled in where they are. And
so there was there was a lot of

discussion around where am I
going to get this lawyer, I

think you had had an associate
that didn't work out too, right.

And so you were a little gun shy
at that point, and also didn't

really know where to hire and
you wound up doing some

recruiting actually outside of
your state. So what was that?

First of all, what was that
experience like and hiring your

first associate and not having
that worked out? Okay, go

through with that.

Unknown: My first associate it
she was a legal assistant at my

old firm with me, but she was
going to law school online at

Mitchell Hanlon. It was like
when it was pre COVID. And it

was one of the first ABA
accredited programs. So she was

going there. And then when I
realized I was going to leave,

she was also having some
difficulty, so she wanted to

leave as well. And so we kind of
decided that, you know, she'd

helped me out and do some
externship stuff and whatever.

And then she'd worked with me
when she was a lawyer. I kind of

realized during that process
that it was probably not going

to work because she didn't
really seem like she had the

work ethic I was looking for.
But I kind of tried to be like,

Well, maybe it's because she's
in school. We'll kind of power

through see how it works once
she's licensed. So I did that,

but I changed the pay structure
that I had initially planned to

do. Because I was worried about
that. So I changed it to

basically all commission so that
it would hopefully motivate her

to work. But it didn't. Um, and
so she just basically was coming

to my office every day asking me
for stuff to do and she wouldn't

go out and network or or really
do anything. And so basically I

tried to change up ways that I
paid her it I had to do a whole

bunch of different stuff to
motivate her and it just didn't

work out. So I basically just
told her like, I'm sorry, like

this isn't working, you're gonna
need to leave. She clear out her

office, it really just kind of
ended poorly. And she and I have

not spoken really since then. I
also realized after that point

that I needed somebody
experienced right now, for my

first hire, because I just did
not have the time to teach

someone how to be a lawyer. I
needed someone who knew how to

be a lawyer, and who could come
in, and I maybe needed to teach

family law, or Wyoming law. But
I could not help somebody learn

how to be a lawyer. So I did
start posting on our Wyoming Bar

Association, job board. Things
like that. I helped you helped

me use a recruiter. But she
after a few weeks said, I don't

know how to help you. I'm like,
I can't help you find somebody

there. She I don't think she
didn't really help someone this

rural. So I reached out to the
University of Wyoming law

school. And they posted and they
also spoke to some people. So

that's how I found my current
person. And basically, she

reached out to my paralegal
because she knew her and asked

her some questions. And so she
then sent me her resume and an

email. And basically, I was
like, you're good. Like, when

can you start? She was
approached, she's

Davina Frederick: from she was
from Colorado.

Unknown: She had gone to U DUB,
University of Wyoming law

school, and then she had gone
and been a prosecutor for two

years in Colorado. And so I knew
that she would work out well by

her resume and everything. And I
apparently he told me about her

too. And she seemed like she'd
be a great fit. We scheduled an

interview, basically just as a
formality. And at the end of the

interview, I'm like, so when can
you start?

Davina Frederick: We had to wait
a few

Unknown: months. I think I
interviewed her in like, May,

and she couldn't start until
August. And so it was pretty

rough. Because, I mean, I was
busy. Like, I was really like,

it was hard. So

Davina Frederick: yeah, yeah. I
and I mean, to me, like, like,

the reason I wanted you to share
that story is because I think so

many people listening to this
podcast will have experienced

similar things where they may
have tried to hire an associate,

and it didn't work out. And
sometimes people get so

discouraged, and they kind of
just think, well, this, I just

need to, you know, I'm just
gonna figure out something else,

because I'm not gonna be able to
hire anybody. And I know that

there was a lot of that when you
when I first you know, began

talking about it. And it takes
and then it takes sort of

letting go of some of that and
saying, Okay, well, if I were to

hire an associate, what would
that look like? And maybe I can,

we really brainstorm, we are
constantly sort of brainstorming

on connections and people you
could talk with and looking

outside the state and all that
and it and it all worked out

really well, because this
particular person was able to

move back had a spouse who was
willing to move, move back here

and everything. So, you know,
yay. Now you're on the search

again, which is wonderful. And I
just, you know, all of this so

that people have a context to is
that your revenue has been

doubling and doubling and
doubling

Unknown: it. Yeah, it's been
doubling I think, almost every

year since I opened and
obviously, I got to the point

before pre Jenner, where I you
had informed me that like, once

I hit that number, I'm really
can't do it alone anymore, which

was apparent. And this year,
we're, I think we're on track

right now to be right at
probably a million.

Davina Frederick: Yeah,
crossover that million.

Unknown: That's why we need to
person and we're also I also in

buying a building, so we close
in, in about four weeks. So

Davina Frederick: that's
wonderful. That's wonderful.

Yeah, I think when we started
you were probably around a

quarter million to 300 are kind
of in that range. And so it's

been a lot of very rapid growth.
And it's one of the things that

you know, we did we have talks
about a lot is that you, there's

you there's only so far you can
get yourself even with a really

good team, depending on your
practice areas, because there

are only so many hours in a day
and eventually you really need

somebody else. And especially if
you want I think one of the big

wins for me I know was when you
plan the vacation, and you

actually left your firm and took
your kids and your hubby and

went to Cancun I think it was
was Cancun or Tulum. Oh, yeah,

we

Unknown: went to Cancun in
March. And then we actually just

went to Denver for just a school
shopping trip last week. And

then my husband and I are going
to Cancun again alone. Right

around when we close on the new
building, because that's when I

like to leave town is when I
close or move offices.

Davina Frederick: So yeah, so
and I hadn't gotten the hadn't

gotten the update on the
building. So you know, I

Unknown: was, like, I hadn't
been able to update you on that

yet. But yeah, we were looking
around, and we had something

else in mind, but it wasn't
going to work out. Because I

need to move in order to hire
another associate, I need to

move. And so that's what's been
holding me back because I do not

have anywhere to put another
associate here. I had an intern

this summer. That was it was
really nice to have an intern

and he worked in the kitchen. I
had to find a kitchen table for

him.

Davina Frederick: I remember
being an intern and working in

like a supply closet. So you
know. Now, a lot of what I

wanted to the reason I kind of
wanted to interview at this

particular time is because I've
been discussing with a lot of

you know, when I talk about
wealthy woman lawyer, it doesn't

just begin and end with your law
firm. Because the idea is to get

your law firm to a point where
it is generating enough wealth

for you to you to be able to
have to also diversify your

investments. So you're not just
having this wealth generating

law firm and this asset but
you're also buying a building

and having that asset and there
are a lot of different things

that people are doing to invest
their wealth and you did

something that was really kind
of fun. And I think a lot of

people enjoy hearing about it
because you follow it you didn't

do something else that was sort
of the goal or a go vest you

know you may have stuff in the
stock market but what you did is

you followed another passion and
I took advantage of an

opportunity came up so why don't
you tell us about that business

that you decide to invest in and
why

Unknown: I'm so in May ish. I my
husband I bought a tanning

salon. And actually it is the
only tanning salon in Sheridan.

So Wow. Yeah, so it's a little
bit different because we don't

have a million tanning salons
here. We have one

Davina Frederick: we bought it
we got them everywhere. Plus

we've got the beach in the
sunshine and which

Unknown: is ironic since you
have the sun all the time.

Davina Frederick: Yeah, right
and you say I am and if you for

those watching the video you'll
see how pale I actually am as a

native Floridian and you see
that? Stacy's lovely tan because

Right?

Unknown: Right? I'm not normally
this tan. But yeah, so I'm

people think it's really weird
at first, but um, I actually

have always enjoyed tanning and
it's like a stress reliever for

me. And I have always kind of
wanted to own a tanning salon.

And I've always told my husband
we should open a competing one

here. And I had actually been
looking at like places where we

could do that or like chains
that we could open things like

that. And then all of a sudden I
got information that the owners

of this one were wanting to
sell. So I got involved in that

and we bought it

Davina Frederick: so so what was
that? So here you are busy law

firm, your you know, you need
another attorney? What was that

like to decide? I'm gonna go
ahead and buy another business.

What kind of things did you feel
like you need to have in place

to be able to do that?

Unknown: Well, um, they already
had one employee who I knew from

tanning there was there actually
only employee other than

themselves. They were there all
the time they worked it. And so

I knew she was very
knowledgeable. Because I

wouldn't be sitting waiting for
the you know, bed that I wanted

to use or whatever. And I would
hear her talking to other

customers about the tanning
lotion. So different tanning

beds, the spray tans because
they do we do spray tans by

hand. She does them. And so I
knew she was an asset to the

company and to the salon. And so
we wanted her and she would be

the person who would run it. And
so we knew that that would be

important because we obviously
weren't going to be there all

day every day. So we made that
clear to her that she was going

to be an asset to us and we were
going to give her a raise

because the old owners There, we
had a lot of problems in the

sale, it was very difficult
things I don't understand. Were

done by the old owners. As an
attorney, I had to make some

threats and do some things that
I didn't want to do but had to

do. And they were being
difficult to our manager,

because she was obviously
staying with us. And so it was

kind of like, behind the scenes
discussions with her that like,

just hang on, you know, you'll
be taken care of, we'll give you

a proper pay. And, you know, you
won't be treated poorly anymore.

So that has panned out to be a
good thing. And she's here, and

she can do literally anything we
need her to do. She can like,

you wire the beds, she it's
insane.

Davina Frederick: She's dying.
Wow. Yeah, I think it's a, I

think let's delve into that a
little bit of what, because if

people are thinking about buying
a business, there are some

things to think about. I know.
When my husband and I, we sold a

business, we sold a gym. And the
people we sold the gym to we,

they came from another country,
and they were Australia, and

they were kind of coming in on a
visa, you know, buying a

business and investing in a US
company. And so they, you know,

want to our business for that
purpose. And we I think we

didn't do enough due diligence
when we were selling, because we

were just ready to get rid of it
and, you know, move on to other

things. And it turned out to be
a complicated, you know, that

wound up with doing, you know,
we're heading to litigation, and

we wound up settling and all of
that. And it wasn't anything

that, of course, they accused us
of everything they were every

week, we would get some new
accusation. And it got really

nasty. But it was, you know,
simply that they started, when

they came here, they started
unwinding the it was a married

couple and one of the partners
and the couple was not we found

out she had some mental
challenges and personality

issues and stuff. And so a lot
of stuff started getting kind of

unraveling. And it's it's things
that I do think if you are going

to invest in buying a business,
I do think you have to prepare

yourself for other people not
being who you think they are not

having the same level of ethics
that you have. And I would

advise do a little bit more. I
wish we had done more due

diligence and got to know more
about them. It's a little

difficult because they were
coming in from another country.

But we probably could have done
a little bit more. In your case,

you actually knew these people
ahead of time, but you probably

didn't know some of the behind
the scenes. You probably didn't

know them that well. It's kind
of like carrying somebody like,

yeah,

Unknown: yeah, I didn't know
them, like well, but I knew

about them. And I knew they
weren't great people. And so I

knew going in that they were
probably going to try to do some

things. I knew that we were
paying too much. And um, it was

just I by the end, I knew that
they were going to take things

out of the salon that they
shouldn't. And I thought about a

lot of things that I could do. I
thought about not paying the

full amount owed. Because we
paid some earnest money

essentially. The process took a
lot longer than we anticipated.

And they were kind of pushy
about it. So we paid money up

front a couple of times, and it
was in the car, I drafted the

contract. So are the purchase
agreement. So I added that to it

and we would sign it. But I
thought about a lot of things.

And then in the end I just
thought I'm basically paying

them to go away at this point,
because they were moving and I

just I didn't want to deal with
it anymore. And I just wanted

them to leave and I just wanted
them gone and I didn't want to

fight I didn't want I mean I I
had threatened them a couple

times. And I just didn't want to
deal with that anymore. So

Davina Frederick: just the value
of your time. You know what I

mean? Your time is worth in your
law firm business. You're busy

You've got things going on, and
you got your kids and the

husband and your husband and his
new business venture. And so you

kind of have to make choices at
that point, is it worth it to

the detriment of these other
things? Great. That's kind of

what we wound up deciding as
well, which was interesting. I

always find it interesting,
because oftentimes, lawyers in

our own handling of our own
business, we tend to be more apt

to sort of let some things go or
whatever, because we sort of do

the evaluation. And we know what
it is like, if you actually get

into a litigious situation, how
how, you know, stressful, like,

there's an emotional cost and a
physical cost, and all of those

things that go on when you get
there. And so I find it's

interesting, because I often
find lawyers tend to be like,

you know, I'll just write this
off, right? And let this go. So

looking back on that now, would
you say, is there anything that

you think you would do
differently? Sort of going into

it? Or do you feel like it sort
of had to happen the way that

all sort of happened,

Unknown: you know, I think it's
fine the way it happened, I

maybe could have negotiated a
lower price. But I think in the

end, it's okay, we've really
gone forward with we don't talk

negatively about the old owners,
they have a very negative

reputation. We've gotten a lot
of clients back who stopped

coming because of the old
owners. And they weren't

comfortable there, particularly
because of the the male owner,

he made females very
uncomfortable. So a lot of

people have come back. And we've
changed a whole lot of things.

It's just a better feel, and
better environment. And so, you

know, we don't allow anyone to
talk negatively, if people talk

negatively about them to us, we
don't engage in that kind of

behavior. So I think if I had
done something, I'm not paying

them the full amount, um, really
started more of an issue with

them. I think it would have just
fueled that negative and

negativity, I guess, because
they would have spread things

about us. However, I've kind of
kept a positive relationship, in

their opinion. Um, I allow the
female owner to tn for free. I

told her she can I don't really
care, whatever.

Davina Frederick: Are they
moving? I thought they were

moving away did move.

Unknown: But she comes back. She
has a daycare in town still. And

so she comes back occasionally.
So it's rare that she's even

here. She came in and bought a
ton of our old inventory. That

was like their inventory, but we
discounted it because we wanted

it out. And she bought like
$1,200 worth of it. So I just

I'm trying to keep things
positive. And I think that's

probably for the best because
they're not probably maybe they

are I don't know, I haven't
heard anything about them, like

trashing us or our salon. So
that's probably it was probably

a better choice.

Davina Frederick: Yeah, yeah.
Yeah. So how Now what kind of

improvements have you made in
the business because you've done

I know, you've changed the name,
you have a cute slogan, you've

done all that you've kept this
good employee, I saw where you

were sort of looking for another
employee, it looks like what

other kinds of investments or
kind of plans do you have for

this business?

Unknown: We completely repainted
the entire inside. So we have

like a front area that's like a
little boutique area. And then

we have 10 rooms. We have nine
beds and one spray tan room. So

we were painting for forever.
Like ever. We were there all

day, on an on Saturdays and
Sundays for like four weeks, and

we would take our kids and they
would just wash their iPads. We

pawn them off on their
grandparents couple times. Um,

yeah, it was a big thing. And we
had some of our employees help

and our manager helped a lot. We
would be there late at night, I

would go or my husband would go
so we would just trade off. And

I am

Davina Frederick: very much
yeah, I'm very much like let's

see who we can pay to come paint
those for me because I, my

husband and I we will we bought
our first house we were newly

together, moving in together. We
bought our first house and we

start painting and it led to
like a big argument over like

our baby, like painting styles
and getting upset and then he's

like, let's just call somebody
and have them come paint. And

that always tends to work out
for us. We've painted many, many

things together since then.
senses, houses. And we're a

little bit more selective about
what we paint and what we call

other people debate for us,
because that's a sure way to

start trouble is, it's much
harder than people think it is.

Unknown: It's a big thing. Um,
it was a lot. It took a lot of

time, but it's done, um, looks
better. It looks way better.

We've just kind of changed some
of the decor we've, like,

recycled and redone some of the
decor that was in there just to

make it look better. We've
changed it more to like a

nautical theme. So it's more
like the the walls are like a

beige color, like, well, it's
called perfect grade. It's what

my house is. And then we have
like white furniture with some

Navy and things like that. I
bought new tables for each of

the rooms. Were buying new
chairs, I bought new chairs for

the boutique, because there was
a couple real trashy ones,

Davina Frederick: too, it sounds
like you really are creating a

little haven. You know, being in
Wyoming. It's not, you're not

close to the ocean. And so
you're creating a little piece

of the beach for those beach
lovers in Wyoming who can't get

away to the beach. But you can
come here and feel like you're

at the beach and yeah, get a tan
and all of that.

Unknown: Try. We also bought a
new tanning bed. Oh, wow. So

because one of our our most
popular one, which is our

there's different levels, and
it's our highest level that we

have right now. People were
waiting, like 30 minutes for it.

So we bought another one of
those. And so we just finished

getting it all set up and
everything last week. So people

are pretty excited about that.
And then we have two more new

beds on order that are higher
quality, like higher level beds.

They are not going to get here
till about February though.

Davina Frederick: Yeah, supply
chain issues. I have no doubt.

Yeah,

Unknown: they're in German, they
come from Germany. So it just

Davina Frederick: let's talk
numbers. And let's talk about

the business aspect of this.
Because I think, because I

really want to focus on the and
I know you don't hold your

numbers, right, because we're
going to talk about the business

aspects. Because I know that
that's, you know, that's kind of

what I'm wanting to highlight
for people is about sort of, you

know, making investments and
other things. So how much do you

anticipate this will generate
for you in revenue? In gross

revenue? every year or every
month? How are you going to do

the numbers? Like how much do
you? Do you have an idea of what

what your expectation is for
that?

Unknown: The first couple of
years, it's probably not going

to generate anything, because
we're having to pour so much

money into it to redo it. And we
had to take out a large loan. We

had to take out extra to buy all
the new bed or tanning beds.

Because they're very expensive.

Davina Frederick: Yeah, I
imagine. Um,

Unknown: so we, yeah, for the
first couple years, it's

probably not gonna make us
anything. And that's fine.

Because honestly, we needed to
probably lose a little money,

because of our situation with a
law firm is

Davina Frederick: making, right
because you're making too much

of a law firm. Yeah.

Unknown: So we're, it's really
fine. Honestly, if it makes, how

we kind of went into it is like,
if it makes us anything, it's

like we're already making so
much personally, that it's just

like, extra that we're going to
put into retirement or our kids

college accounts or whatever,
it's really not that big of a

deal. But on our profit
generators and things that we

had to do for our business plans
for our loan and everything. It

was very difficult to figure out
because the old owners lied on

the numbers they gave us. Um,
and we know that and our banker

knew that. And he was honest, he
told us that when we came in,

and we're like, yeah, we know.
Because it didn't make any

sense. Their books didn't make
any sense. So we're, we're

unsure because of that. But
based on what we think by the

numbers that we've done with our
accountant, and my mom who's an

accountant. We think after the
first couple of years, it'll

probably be generating like, up
to like 70,000 a year maybe even

more, but that's honestly a
total guess we're not really

sure.

Davina Frederick: I'm not really
sure because you don't have any

data to go by and you haven't
started tracking your own. Do

you need Did they have a like a
POS system? Do they have some

sort of system for Tani like
software specifically for

tanning that hell Yes, yes? Did
they already have something? Or

did you have to get something
that are new?

Unknown: So they had something,
but the owner would delete

everything out of it, because
that's what they were lying

about. Because he was pocketing
cash and things like that.

That's why the numbers are not
correct. Because the year before

we bought it, he had pocketed
$70,000 of cash. And so it was

not reported correctly. So

Davina Frederick: he had sort of
a I, he had sort of a tech

strategy there some way say.

Unknown: So yeah, the, the
numbers aren't correct at all.

It just doesn't make any sense.
And also, they didn't run the

salon efficiently. They were
only using three of their 10, or

their nine rooms. And they also
didn't keep their beds up to

date. Like the lamps in the beds
had not been changed for the

whole three years. They hit on
the salon. It was pretty. Yeah,

they weren't they were rolling
back hours on the beds and

things like that. It was not.
Yeah, it was wow, they were

lying a lot. So.

Davina Frederick: But when you
do it all over again, if you if

you knowing all of this, knowing
you, if I knew was

Unknown: the manager told me
those things. Because we've

gotten it all up to speed and
like the clients know those

things, because we had to say we
had to change all the bulbs and

people were like, I just don't
feel like I'm getting tan. And

that's because the bolts haven't
been changed in three years.

Just wait. I mean, really, if
it's, if it's running properly,

and everything's been
maintained. It's really just

like a cash cow. Because people
I mean, even all summer, when

we've been, you know, 100 plus
degrees, we've still had at

least 15 to 18 clients training
a day. And summers the slow

time, in the winter, we'll have
like 40 to 60 people a day. So

imagine,

Davina Frederick: I would
imagine that also helped, like,

when you live in a colder
climate where it's snows,

shorter days, and all the dark,
you know, that there's probably

a lot of people who tan there
for the vitamin D, or like,

yeah, the vitamin D for the
lights to help with depression

and things like that. So it goes
beyond sort of, you know, just

how you you like the look of a
tan or how you're going to look

at the beach, when you go and
goes, it's really more of that

as well. So

Unknown: have a red light bed,
which people are loving. So, um,

it's, you know, rehabilitative.
And since my husband's a

physical therapist, he's also
pushing it with his people, too.

So that's pretty popular, also,
that it's the only red light but

in Sheridan,

Davina Frederick: wow, we have
we actually have our own red

light. Here, my husband does
that all the time. Because it

really helps with it doesn't
have harmful rays, but it really

helps with the, you know,
mental, your mental state. And

all of that does many other
things for you. So very

interesting. So what I

Unknown: do it all again. Yeah,
yet to be seen. One of the

challenges is the employees
because I went from my three

employees here to also having
one at one point earlier this

summer. I had six employees
there. So it's a lot. And my

manager is a difficult person
for people to get along with. So

I've been working with her on
that. She gets along with me.

Okay, I can talk to her.

Davina Frederick: He's the one
who's so great at doing

everything. Yeah. She's not a
people person.

Unknown: And it's because she
has been by herself for years

and years and years. She hasn't
had to work with anyone. Um,

Davina Frederick: so that's one
of the things you did was hire a

number of employees you staffed
up.

Unknown: I hired. I mean, we had
to because she was working like

104 hours a week. I mean, it was
nuts. Um, but I hired

Davina Frederick: like five

Unknown: additional people, five
or Yeah, five additional people

at one point, and a few of them
left for college. One quit

because of working with my
manager. But she wasn't a

stellar employee anyways. So
yeah, right now I have four

employees and I'm hiring for one
employee.

Davina Frederick: So that really
also thrust him you've been

managing people with a law firm,
but you've had kind of a small

team at the law firm, and you've
known them really well, and that

kind of thing. And so did this
has this really challenged you

from a management standpoint?
And really learning how to be a

better manager and a good
manager? And all of that?

Because I don't, you haven't had
that you've had some challenges

in the law firm. But was there a
difference?

Unknown: Hmm, I mean, I used to
be when I was younger, like, in

college, I used to be a manager
of a restaurant. Um, so I'm kind

of used to it. It's been a
while. Um, but I would say that

back then I wasn't as mature as
I am now. So it was more. Now

I'm just better at dealing with
people. And so I'm trying to

teach that to my manager. Um,
and so, and like, in my

husband's I can't, he can't
deal, she doesn't get along with

him well, which is funny,
because he gets along with

everybody. He's super passive,
and like, doesn't ever have any

issues with anyone. And I don't
know if it's because she didn't

get along with the male owner
previously, because he was very

mean to her. And so I don't know
if that's just like sticking

with that. And so I have to deal
with everything. But I also

create the schedules, and I post
them on an app. So like, I have

to remember to do that. And,
yeah, and I do the payroll, and

all of those things. So I'm
really

Davina Frederick: adding all of
these things to your plate. And

on top of all you're doing with
your law firm. And of course,

you know, what I'm going to say
to you is maybe getting some of

those things off our plate.

Unknown: Yeah, I'm just trying
to get my manager kind of under

control. And we've had to be
dealing with so many other

things like getting the, you
know, new bed installed and

getting another one working and
then getting something else

done. And I kind of want her
dealing with that, rather than

worrying about something else.
Because I can't do those things.

And we don't have anybody here
close enough to fix those kinds

of things, we have to fly
someone in. And so you know, I

just usually post the schedule,
like four weeks at a time, I

found a really awesome app for
it. And so I love that. And

then, you know, the I do payroll
for the firm anyways. So it's

not a big deal to do payroll for
them. Because the software that

we do use for the tanning
program and everything. That's

where they clock in and out. And
it gives me all of that. But

yeah, I mean, it's a lot. And,
you know, we haven't mentioned,

I also have another full time
law job as well. So yeah, that

is a lot. But yeah, that's why
I'm hiring another associate so

that maybe I don't have to do as
much

Davina Frederick: stuff. Yeah, I
do think that is the I do think

that is one of the challenges of
entrepreneur or, you know,

people who are very
entrepreneurial, is that we, we

love the idea of having multiple
businesses and doing because we

have visions, and you know, the
passions for different things.

And But oftentimes, especially
when you're starting out, it can

be really time intensive for
you, when you're starting out,

even if your vision is one day
for it to sort of run by itself

or run pretty much hands off.
Initially. And also in this

case, when you've got an
existing staff and you have to

turn, you know, turnover and
change the way you're doing

things and stuff like that there
is some transition period. So

what advice would you have for
somebody who's considering, you

know, they're running their law
firm, they're making enough

money now and they want to buy
another business? What advice

would you have for them?

Unknown: Um, well, when you said
that, it is a lot of time

involved. Do you think it's not
going to be but it is. Um, I

mean, everybody told me that,
like, I was talking with my CPA

before we bought it and he's
like, Well, if you think it's

gonna be X amount of hours, it's
gonna be like five times that

and I was like, yeah, no, that's
fine. And I mean, I it has been

fine. We do spend a lot of time
there. Um, but you know, I don't

mind because I like to be busy
and I like to work and it's

okay.

Davina Frederick: Do you think
that is one of the things for

anybody who knows, you know,
that you really love to work

almost to the point of maybe
workaholic a little bit. But you

really love you really love to
work and and, you know, not

everybody does a lot of other Do
people have a vision for, I want

to step away from this and work
as little as possible and travel

a whole lot. But I think where
you are right now you really

enjoy it, which is why you're
still so active in your practice

as well, because you could turn
away work, you could work less

you have an attorney to take
things, you know, there are

those kind of, you can choose
not to do this other law job

that you do. But I think
everything that you do is

because you really enjoy it. And
like doing the work. And with

this particular thing, I think,
again, it's a passion. It's a

little bit of a passion project
for you, because you love to tan

and you love everything around
the tanning business. And it's

something it's sort of been a
dream of yours for a while,

which probably makes it easier
in the beginning sort of put in

that extra. Okay, we're gonna be
up till midnight painting,

because there's a lot of
enthusiasm and excitement around

it. Whereas five years from now,
you may look at that

differently. You may be like,
No, we have to, like, have

people keep us up, right?

Unknown: Yeah. And I think I
mean, I like to travel too. But

you know, I'm, I'm just 32. So I
guess I just feel like right

now, that's not really what I'm
supposed to be doing. I'm not

supposed to be just off
gallivanting around, you know,

this is kind of how I'm supposed
to work right now. Because I'm

32. And that's what I'm supposed
to be doing. And so I'm like

building all of these things
right now to generate enough to

have put away and in proper
places or, you know, invest in

and whatnot. So that whenever I
am a bit older, and my kids

aren't little than I can do that
I can travel and I can do

whatever I need to. Because I
don't know, I'm just young at

this point. And my kids are so
little, you know, I'm one not

going to travel a lot without
them. Because I just won't

because they miss us. And I got
a week, five days about it. Cuz

then they're sad. And I'm sad,
because I miss them, too, you

know, it's difficult to take
them places because there's so

little, you know, about four
hours on the plane with Max.

Davina Frederick: Yeah.

Unknown: Yeah, we're not going
to be doing a lot of traveling.

So, you know, I just think that
I'm pretty much just building to

the point where that's going to
be what we do. And we can go on

trips and things. So, you know,
I've talked to you about it,

too, that it we're just kind of
getting that point where we're

like, wow, that's a lot in our
bank account. Mmm, hmm. Okay, so

what do we do with that? Like
the building that I'm buying? I

am putting, you know, over
100,000 down on it. And that's

fine. I am just going to pay
cash. And that's great.

Davina Frederick: Wow, wow, how
fantastic that is? Yes, it is.

But it's also like rethinking if
you if you didn't have money

before, and then you're doing
these things and you're getting

money. There is that feeling of
okay, what do I Okay, what do I

do now, because then you have to
figure out the best thing to do

with that money and also have
tax strategy and all of that as

well. So there's a learning
curve to all of that. And, you

know, to your point about being
30, you know, in your 30s, I

remember when I was in my 30s, I
worked seven days a week. I

mean, I loved it, but I also and
I, all my friends were at work,

and we hung out together, and we
hung out together after work.

And there was a lot of that.
That was my life. Of course, I

still work a lot now. But it's
also because I love and enjoy

work. But I do have a lot more I
do take a lot more time off now

than I used to when I was at
that age, because that was sort

of the foundation, you know, of
your future and all of that. And

you having kids, I'm sure that
figures a lot into your thinking

is also, you know, creating that
generational wealth and

preparing them for their future
and all those advantages you

want them to have. And that kind
of thing goes into it. As long

as you get the energy and the
stamina and you love doing it.

Hey, go for it. Get to be 57
Have as much stamina as you used

to.

Unknown: Yeah, no, no, I'm not
doing this whenever I'm not.

Davina Frederick: You say that?
Oh, let me we'll see how that

is.

Unknown: I'm not going to be one
of those attorneys that I have

to force her entire that's not
me.

Davina Frederick: No, good,
good. Well, Stacey, I'm enjoying

this conversation and it's great
to catch up with you because you

and I are overdue for a catch up
which we're on the books soon

for so, um, but I'm really
excited that you shared your

experience of buying a business
because I know a lot of people

have these sort of ideas in
their mind and I'm you know,

it'll Be not only I think
there'll be an encouragement

factor for people, but also, you
know, some things to think about

before they go into buying
another business. And also, just

what life has been like for you
over the last couple of years

with going, you know, from a
quarter million to a million,

you know, that's huge. That's
huge. And what a life changing

sort of thing, it gives you a
lot more options, and let you go

down some more exciting kind of
paths, adventures, you know,

right. So, thanks so much. Why
don't you tell us where we can

connect with you, if anybody
wants to reach out to you and,

you know, just connect with you.
Maybe somebody wants to apply

for that job. And sort of
Wyoming is gorgeous, as somebody

who just went out, I was just
out in that in that area, and

it's so beautiful out there. So
um, information? Yeah,

Unknown: well, I'm on Facebook,
just my name, Stacy. Qurban, no

E in the first name, and then K
I R, V as in Victor, E. N. And

then my email is just Stacy,
Kern, Kervin. Law wipo.com.

Those are the best ways to reach
me.

Davina Frederick: And that's
your web address, then.

Unknown: That's my email. And
then my website, your

Davina Frederick: web address is
the extension of your email. My

website? Yeah, your website.

Unknown: My website is just www
dot Qurban. Law. who.com.

Davina Frederick: Right. That's
I'm saying if they wrote your

email to that, it's probably
your website URL on the

extension of that. So yeah.
Although some people do things

differently, you know, Gmail
still, which just makes my skin

crawl. But anyway,

Unknown: that's my tanning
salons email. Oh, you

Davina Frederick: know, you need
to change it. You need to change

it again. All right, my friend.
I will talk to you soon. Thanks

so much for being here. Yep.

Unknown: Thank you.