In this exciting episode of Common Cents The Podcast, Garrett Reed welcomes the Frakes brothers—Brandon, Andrew, and Nathan—essential members of the Frakes family, who own the renowned Industrial Cigar Company and several other businesses. The brothers share their fascinating journey from sports to entrepreneurship, emphasizing the importance of family, core values, and personal growth. Dive into discussions on the evolving cigar industry, the significance of maintaining a consistent and welcoming culture, and the challenges and rewards of running a family business. This episode is packed with valuable insights and entertaining stories that you won't want to miss.
Highlights:
1.
Nathan's Determination:
• Despite initial academic challenges, Nathan's hard work and determination led to success in college, defying expectations.
2.
Family and Business Dynamics:
• The brothers emphasize the importance of having a strong relationship with family members, both in and out of business.
3.
Cigar Industry Insights:
• The evolution of the cigar industry, with a focus on craft and boutique cigars, and the potential rise of rye as the next big thing in spirits.
4.
Creating a Welcoming Culture:
• Building a consistent and welcoming culture is key to the success of their cigar lounge, ensuring a positive experience for all.
5.
Personal Responsibility and Growth:
• The importance of personal responsibility and self-realization, highlighting discipline and perseverance as keys to achieving goals.
Timestamped Summary:
• 00:00 - The Frakes Brothers discuss their journey from athletics to entrepreneurship, touching on controversial comments, family lineage, and charity bets.
• 16:10 - Bonding over cigars, prioritizing family and business, and emphasizing core values within their company.
• 28:40 - Consistent pressure, instilling values through the EOS program, and addressing challenges such as racial disputes.
• 40:08 - Creating an inclusive environment in their cigar lounge, overcoming industry challenges, and emphasizing mutual respect.
• 54:44 - The evolving cigar industry, including the rise of craft cigars and potential trends in spirits.
• 01:12:49 - The importance of family relationships, open communication, discipline, perseverance, and personal growth in a family business.
• 01:30:03 - Discussing heart health, challenging personal growth, and sharing funny family stories and memorable experiences.
• 01:43:19 - Recounting past violent altercations, discussing the role of physical challenges in personal growth, and sharing future plans at Industrial Cigar Company.
