Profiles in Franchising

by Toni Jakovec

Although the corporate structure at vomFASS has seen a shift back to German leadership, we’re excited to announce it was overwhelmingly agreed to keep the US Franchise Development Team together.

vomFASS US Franchise Development Team

vomFASS US Franchise Development Team


This talented and resourceful team has been together for several years growing vomFASS to over 30 stores in America.  It seemed like a good time to catch up with the team members.  This week we’ll focus on the important categories of Funding and Banking.  Next week we will highlight Real Estate and Design.



Toni Jakovec:  So let’s talk about funding.  How do you help a potential franchisee realize their dreams of owning their own vomFASS shop?


Dave Woggon:   I am the consultant that helps the candidate define the different kind of funding options available to them and then determining what options they should explore.


TJ:  So you identify the funding options available to a potential franchisee?


DW:  Yes.  For example, there is a program that we have where a candidate can use retirement funds to invest in their business without tax or penalty from the IRS.


TJ:  Are there other options available?


DW:  Yes.  The SBA option, for one.  There’s also the unsecured line of credit approach.  Asset based lending is yet another avenue.


Dave Woggon, Phoenix Funding Source (left) with Lance Paulson, Wells Fargo (right)

Dave Woggon, Phoenix Funding Source (left) with Lance Paulson, Wells Fargo (right)


TJ:  Okay, why don’t you take us through one of these options… about the 401K roll-over approach?


DW:  The first step is we create a “C” corporation, then Lance Paulson (see below) will work with the candidate to open their 401K.  Lance will then help them move the money over to fund the business.  Now those funds can be used to pay the franchise fee and for business expenses.  Most importantly, if they are looking to do an SBA loan, the bank, Wells Fargo in this case, may require that the new company have 30% liquid cash, based on the loan amount.  Normally you cannot use retirement dollars as collateral on an SBA loan, however, when you use this roll-over plan, the money buys stock in your new company.  That money then gets moved over to the business checking account.  Wells Fargo Bank then looks at that company cash as liquid cash, thus meeting the requirement that the SBA lender has on that 30% benchmark.


TJ:   You and Lance coordinate very closely to accomplish the funding of a new franchise.


DW:  Indeed.  Look at it this way.  Phoenix Funding Source has a team of independent specialists who are experts in their field including 401K rollovers; SBA loans; unsecured lines of credit and asset based lending.  These independent experts then help the franchisees navigate the entire financial landscape, removing uncertainty from the equation and relieving the anxiety of the new business owner.


TJ:  From your perspective, how do you think the restructuring of vomFASS will impact the funding process?


DW:  As I see it, there will be no impact on the funding side.  Quite honestly, when I walked out of the meeting with Thomas Kiderlen and the current vomFASS Franchise Development Team, I was very pleased.  Thomas said there was no reason to dismantle the current Team.  That was great to hear because it validated the work we have done and the work we hope to do in the future.  This team has been together for several years now and has worked very successfully.  With the master franchise now back in Germany, it will give the franchisees more earning potential and improve their margins, all because of lower costs and with a more efficient supply chain.  This all points to franchisees having a better opportunity to succeed.



Toni Jakovec:  Hello Lance.  I understand that you attended a meeting with Thomas Kiderlen, CEO of vomFASS AG and new head of vomFASS USA.  What impressions did you come away with regarding the new company structure?

wells-fargo-logoLance Paulson:  It was nice to get to meet the originator of the franchise.  It was so interesting to get his perspective from operating in a global environment. 

TJ:  How long have you been working with vomFASS?


LP:  I have been assisting with the financing for vomFASS for approximately 3 years.


TJ:  What does a vomFASS franchise have that attracts a prestigious lender like Wells Fargo?


LP:  Well, I’m not exactly a lender.  I’m a financial advisor who guides prospects through the use of their retirement funds as an investment opportunity in a franchise such as vomFASS.  The vomFASS concept is very unique and fresh.  vomFASS lends itself to eating a healthier diet.  The oils, the vinegars, the spices all promote a healthy lifestyle.  And, of course, the spirits are terrific.  This concept has introduced me to such a wide range of interesting people who have all decided to enter the vomFASS franchise program.


TJ:  Do you also help with SBA loans?


LP:  I have a strategic partner, Paula Cook, who I call in from the Wells Fargo SBA lending department to assist.


TJ:  What advantage does a large financial institution like Wells Fargo bring our franchisees?


LP: At Wells Fargo we try to provide the consistency to the franchisees.  Primarily through working with Dave Woggon on some of the funding opportunities and contacts.  Dave then introduces me as the primary Wells Fargo contact.  I become the consistent point of contact whether considering the use of retirement assets or introducing them to Paula Cook.  There have been instances where I have brought in a third member of our Wells Fargo team, Rebecca Herring, who is with Business Banking.  As we are all regionally located in Wisconsin, it is easy for us to bring coordinated and consistent guidance to any franchisee and to attend experience days in Madison.


TJ:  What do you think about the new structure of vomFASS?


LP:  After the meeting with Thomas I was so impressed with his passion for the business.  Because of his unique involvement as a member of the founding family, Thomas is like the global quarterback.  I think this will definitely benefit vomFASS USA.  The roots are there and with a newly defined regional structural support, I think this will be helpful to all vomFASS franchisees.


TJ:  It sounds like you are a vomFASS product enthusiast.  What products do you use?


LP:  I just love the Pumpkin Seed Oil on my ice cream.


pumpkin-seed-oil-ice-creamToni’s Kitchen

Pumpkin Seed Oil on Ice Cream 


Place a couple of scoops of your favorite vanilla ice cream in a bowl, drizzle with vomFASS Styrian Pumpkin Seed Oil Top with a few pumpkin seeds, a sprinkle of sea salt and enjoy!

Disclaimer: This information is not intended as an offer to sell, or the solicitation of an offer to buy, a franchise. It is for information purposes only. Currently, the following states in the United States regulate the offer and sale of franchises: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. If you are a resident of one of these states, we will not offer you a franchise unless and until we have complied with applicable pre-sale registration and disclosure requirements in your jurisdiction.