1 00:00:00,010 --> 00:00:03,100 Are you looking for an investor or VC to create a successful Padel club? 2 00:00:03,390 --> 00:00:06,200 Join me, Julian and Magnus, and we'll show you how. 3 00:00:12,560 --> 00:00:13,370 Welcome Magnus. 4 00:00:13,390 --> 00:00:14,680 Thank you for coming on the show. 5 00:00:15,240 --> 00:00:18,009 Uh, why don't you tell us a little bit about how you got into Padel? 6 00:00:19,610 --> 00:00:20,570 Thank you for having me. 7 00:00:20,669 --> 00:00:26,670 Um, so I um got involved in Padel just recently actually about a year and a half 8 00:00:26,670 --> 00:00:34,675 ago through my co founder and agent lombus who Got some interesting contacts in 9 00:00:34,675 --> 00:00:40,565 New Mexico that were looking to create a whole new concept Um in Padel as everyone 10 00:00:40,565 --> 00:00:46,124 knows Padel was is the the home of Padel is in Mexico So it seemed quite fitting 11 00:00:46,124 --> 00:00:47,975 for us to uh to get involved there. 12 00:00:47,975 --> 00:00:53,105 So um, we um had a meeting and found that there was some very 13 00:00:53,105 --> 00:00:57,915 nice, um synergy between our Uh, to companies and, uh, decided to 14 00:00:57,964 --> 00:01:00,745 go forward with the project myself. 15 00:01:00,745 --> 00:01:04,504 I've played Padel badly for, uh, for a period of time. 16 00:01:05,034 --> 00:01:06,834 I'm more of a. 17 00:01:08,335 --> 00:01:10,085 I'm more of a tennis guy originally. 18 00:01:10,095 --> 00:01:14,115 So, um, uh, the, the crossover has been frustrating for the first couple 19 00:01:14,115 --> 00:01:17,085 of months, so I'm starting to learn the tactic a little bit better now. 20 00:01:17,134 --> 00:01:19,245 So it's, uh, it's, it's work in progress. 21 00:01:19,255 --> 00:01:20,035 Let's just leave it at that. 22 00:01:20,964 --> 00:01:25,455 So now in your company, what other sports did you work with prior to, to, to battle? 23 00:01:26,374 --> 00:01:30,685 So originally, um, I'm, my background is from, uh, football, soccer in 24 00:01:30,685 --> 00:01:32,375 America and, uh, Olympic handball. 25 00:01:32,825 --> 00:01:36,255 And my, my, um, co founder is also a. 26 00:01:36,640 --> 00:01:38,190 Current handball professional. 27 00:01:38,910 --> 00:01:44,229 And just recently, you know, we've, um, um, Patrick has joined us, uh, 28 00:01:44,229 --> 00:01:50,280 who is, uh, uh, quite a prominent, um, handball, um, executive from a 29 00:01:50,300 --> 00:01:54,139 professional handball as well, so he's led clubs and, and, uh, done quite a lot 30 00:01:54,139 --> 00:01:56,489 in Padel as well on the various tours. 31 00:01:56,489 --> 00:01:58,550 So, um, we're, we're an eclectic bunch. 32 00:01:59,340 --> 00:01:59,960 Great, great. 33 00:02:00,220 --> 00:02:02,770 So why don't you talk to us a little bit about your company and what 34 00:02:02,770 --> 00:02:04,120 you, what services you guys provide. 35 00:02:05,190 --> 00:02:08,270 So we're as a 9 1 o'clock is pretty new. 36 00:02:08,280 --> 00:02:11,500 We've, we've focused on sports and investment in sports. 37 00:02:11,930 --> 00:02:17,740 And, um, for the last two or three years, we've been working on, we're helping 38 00:02:17,740 --> 00:02:22,169 players find new clubs, especially in handball and, uh, venture done over 39 00:02:22,169 --> 00:02:26,660 into football as well, but now in the recent years, our main, primary, 40 00:02:26,910 --> 00:02:31,900 primary focus is going into Padel, um, Padelrs is as exploded as you guys know. 41 00:02:32,155 --> 00:02:36,474 perfectly well across the world and it's, uh, it's not very often you get the 42 00:02:36,474 --> 00:02:40,515 chance to participate in growing a sport. 43 00:02:40,755 --> 00:02:43,545 Um, I think it's pretty much a once in a lifetime opportunity 44 00:02:43,744 --> 00:02:48,054 and especially such a great sport with so many, um, aspects to it. 45 00:02:48,084 --> 00:02:52,194 So it just felt like a very natural transition for us to get involved 46 00:02:52,194 --> 00:02:54,174 and the opportunities are there. 47 00:02:54,660 --> 00:02:57,100 Both from a business perspective, but also from a sporting and 48 00:02:57,100 --> 00:02:59,700 community As perspective as well. 49 00:02:59,970 --> 00:03:04,870 We think that community is the vital Component for the success of Padel. 50 00:03:05,290 --> 00:03:11,370 So, uh, we want to bring that community feeling to every Arena that we we set up. 51 00:03:11,880 --> 00:03:14,790 Um, but not to forget it's a business as well. 52 00:03:14,800 --> 00:03:16,220 So it's it's a tricky. 53 00:03:16,220 --> 00:03:19,565 Uh, It's a tricky combination The balance, right? 54 00:03:19,565 --> 00:03:22,925 So can you elaborate on that when it comes to community and what are your 55 00:03:22,945 --> 00:03:27,525 tactics or models, you know, when you're consulting or putting together a club? 56 00:03:28,705 --> 00:03:35,374 So for us, it's very, very important that we have a economic 57 00:03:35,374 --> 00:03:39,479 sustainability model, but also an environmental and sports model. 58 00:03:39,830 --> 00:03:40,870 Um, model. 59 00:03:41,350 --> 00:03:47,440 So while that we mean that, uh, for a arena and for a sport to succeed, you 60 00:03:47,450 --> 00:03:48,990 need participation from the community. 61 00:03:50,060 --> 00:03:55,699 If the community are involved, they will help drive the sport forward. 62 00:03:56,040 --> 00:03:57,440 Grassroots is where it is at. 63 00:03:57,510 --> 00:03:59,700 Professional sports is, is, is fantastic. 64 00:04:00,020 --> 00:04:03,290 It's a great sticker, but if you don't have the grassroots, the 65 00:04:03,290 --> 00:04:05,090 sports will fail pretty quickly. 66 00:04:05,510 --> 00:04:08,659 So, um, coming from living in Sweden, we we've seen. 67 00:04:09,029 --> 00:04:12,130 The, the, the quote unquote rise and fall of, of Padel. 68 00:04:12,130 --> 00:04:16,949 Padel, what we have, um, seen is that the amount of players has 69 00:04:16,949 --> 00:04:22,269 been quite, um, increasing quite significantly, even though the 70 00:04:22,340 --> 00:04:24,189 amount of arenas have decreased. 71 00:04:24,940 --> 00:04:28,129 So what we've done is we've taken a lot of, uh, knowledge from that, 72 00:04:28,599 --> 00:04:34,045 transferred that over into our, uh, And the focus there is that it's gone 73 00:04:34,055 --> 00:04:37,075 from local to corporate back to local. 74 00:04:37,455 --> 00:04:40,954 So we want to focus on the local, incorporate the business side 75 00:04:40,954 --> 00:04:45,365 of it and create a model that is sustainable outside of sports as well. 76 00:04:45,704 --> 00:04:50,454 So our model involves restaurants, it involves, uh, physiotherapy, 77 00:04:50,915 --> 00:04:57,960 coaching, bars, um, and, and these, The leasing of these venues then 78 00:04:57,969 --> 00:05:00,430 generates income to the, to the venue. 79 00:05:00,430 --> 00:05:04,559 So then we're not completely dependent on bringing money and 80 00:05:04,559 --> 00:05:06,689 bookings for the, for the arena. 81 00:05:07,100 --> 00:05:11,580 And then the final piece of assistance is my, my co founder who's French would say. 82 00:05:11,860 --> 00:05:16,369 Is that we're also installing spots as well. 83 00:05:16,450 --> 00:05:21,330 So that's the, the money generated from that also comes back into the business. 84 00:05:22,290 --> 00:05:23,890 Let's talk a little bit more about that. 85 00:05:23,899 --> 00:05:24,610 Those verticals. 86 00:05:24,620 --> 00:05:24,920 Right? 87 00:05:24,989 --> 00:05:27,280 Um, so how many verticals are there? 88 00:05:27,340 --> 00:05:29,200 And and how many of them will. 89 00:05:29,619 --> 00:05:32,229 In a pie will produce money and what are what? 90 00:05:32,659 --> 00:05:34,880 Which other ones are investment in time? 91 00:05:34,880 --> 00:05:39,549 Let's just say to bring the community together Well, so for us the the the 92 00:05:39,549 --> 00:05:45,070 restaurant and the container area are the two main community ones for us 93 00:05:45,759 --> 00:05:49,359 they're going to be open completely open to the public and and anyone 94 00:05:49,379 --> 00:05:53,379 from uh, From outside can come in watch a game while they eat or drink 95 00:05:53,830 --> 00:06:01,834 and then Hopefully begin to play puddle as well because that's right. 96 00:06:02,015 --> 00:06:04,505 So that's really important because the restaurant industry 97 00:06:04,505 --> 00:06:06,625 is a difficult industry, right? 98 00:06:06,925 --> 00:06:08,895 Managing that is a whole nother business. 99 00:06:08,895 --> 00:06:09,185 Right? 100 00:06:09,185 --> 00:06:13,084 So your best route based on your experience is just sub leasing that out 101 00:06:13,094 --> 00:06:14,485 and having a professional to correct. 102 00:06:15,245 --> 00:06:15,665 Correct. 103 00:06:15,685 --> 00:06:18,555 And I think if you do it yourself and you have a background in 104 00:06:18,555 --> 00:06:20,395 restaurant airing, that's fantastic. 105 00:06:20,645 --> 00:06:24,505 If you don't, I think the safest model is just to lease it out and 106 00:06:24,505 --> 00:06:25,904 then set the ground rules for that. 107 00:06:25,964 --> 00:06:27,895 And the same applies for the containers as well. 108 00:06:28,085 --> 00:06:32,115 If you're going to do that, rent out, excuse me, how about beers and wine? 109 00:06:32,454 --> 00:06:34,385 How about beers and wine and spirits? 110 00:06:34,435 --> 00:06:37,655 Is that something you leave to the restaurant or is that something you. 111 00:06:38,370 --> 00:06:41,000 You hold on to them, because I know the profit margins are pretty high. 112 00:06:41,020 --> 00:06:42,419 And do you usually do that? 113 00:06:42,469 --> 00:06:46,979 Because mixing, you know, that with sports sometimes is not the best thing. 114 00:06:47,739 --> 00:06:48,689 Agreed, agreed. 115 00:06:48,760 --> 00:06:51,960 And I think that's a bit of a balancing act to be had. 116 00:06:52,260 --> 00:06:57,429 And I think that's pretty much down to each individual, um, Arena to decide which 117 00:06:57,429 --> 00:07:02,299 ones they want to go for um in in the one that we're building in MetaPack Mexico 118 00:07:02,299 --> 00:07:06,950 at the moment we will have a bar area in addition to the restaurant which will 119 00:07:06,950 --> 00:07:09,380 be run by the arena and not leased out. 120 00:07:09,870 --> 00:07:12,700 There is going to be restrictions in what's available there. 121 00:07:13,095 --> 00:07:17,175 But we also are very keen to be able to bring in outside 122 00:07:17,175 --> 00:07:19,455 people to participate as well. 123 00:07:19,675 --> 00:07:22,645 So it's, it is a balancing act and it is a complex place. 124 00:07:22,995 --> 00:07:28,395 You VC investor, angel investor, um, obviously you're not seeing money, right? 125 00:07:28,435 --> 00:07:34,545 Um, at what point, you know, you want to look at, at companies already come proven 126 00:07:34,645 --> 00:07:39,105 to what they can do or the potential that they can do, like how far off does. 127 00:07:39,175 --> 00:07:44,665 A, a business, uh, need to be for you guys to invest into. 128 00:07:45,765 --> 00:07:48,875 So, um, I'll give you the example of the Mexico project that we have there. 129 00:07:48,875 --> 00:07:53,115 They, they came with a concept and, uh, we facilitated the finance there, 130 00:07:53,415 --> 00:07:56,994 and then we developed a concept further on from that as a consulting partner. 131 00:07:57,935 --> 00:08:02,325 So, um, we found a angel investor who was very interested in going into the 132 00:08:02,325 --> 00:08:07,325 Miami district actually, but, um, to, to be part of the Miami expansion, 133 00:08:07,595 --> 00:08:09,045 you would have to then invest in. 134 00:08:09,180 --> 00:08:11,210 Uh, facilities. 135 00:08:11,729 --> 00:08:16,640 So that's in this instance, there's a, there's an angel, um, investor from that. 136 00:08:16,650 --> 00:08:20,200 We are pretty open in, in talking to both venture capitalists 137 00:08:20,229 --> 00:08:23,729 and, um, angel investors going forward in our other sites. 138 00:08:24,080 --> 00:08:27,330 So in, we're looking both in, in America and the UK as our 139 00:08:27,339 --> 00:08:29,729 primary to, um, expansion areas. 140 00:08:30,090 --> 00:08:36,460 Obviously the U S, um, land becomes a huge issue and, and finding an investor 141 00:08:37,190 --> 00:08:42,310 Land already is is ideal for us either through that we can lease it from them. 142 00:08:42,550 --> 00:08:47,120 We can purchase Or they can use the land as they see fit and then we can build 143 00:08:47,650 --> 00:08:52,629 But the added advantage of our concept is we can also retrofit buildings so 144 00:08:52,630 --> 00:08:58,035 if you have a Um, an old building that you can just be renovated our, um, 145 00:08:58,175 --> 00:09:01,415 architect from, uh, from Barcelona. 146 00:09:01,795 --> 00:09:07,174 He is very on board in, in, in retrofitting a whole, um, 147 00:09:07,515 --> 00:09:10,205 factory, for example, an old factory, which can be repurposed. 148 00:09:10,405 --> 00:09:15,905 Um, so again, the, Let's just say you have a partner in a business and they have 149 00:09:15,905 --> 00:09:17,385 an idea and have a good business plan. 150 00:09:17,875 --> 00:09:20,525 How far did they have to get before you guys consider them? 151 00:09:20,585 --> 00:09:24,845 Uh, consider some best and then do they have to have a piece of property 1st? 152 00:09:25,164 --> 00:09:28,234 Um, you know, how far do they have to get or is it pretty much 153 00:09:28,254 --> 00:09:31,444 the idea of the business plan and you're buying into the people? 154 00:09:31,540 --> 00:09:35,350 We buy into the people. 155 00:09:35,390 --> 00:09:38,920 I think that's the best way to do it because property can be purchased. 156 00:09:38,920 --> 00:09:39,740 It can be leased. 157 00:09:40,130 --> 00:09:41,960 Uh, that's becomes a secondary problem. 158 00:09:42,280 --> 00:09:46,040 However, if, if a person isn't dedicated and driven enough to, 159 00:09:46,630 --> 00:09:50,599 to run that business, we're not interested in cooperating with 160 00:09:50,609 --> 00:09:53,920 these people because it'll end up to be a failure, unfortunately, 161 00:09:54,510 --> 00:09:55,910 or less successful at least. 162 00:09:56,160 --> 00:09:57,910 So for us, it's the person number one. 163 00:09:58,329 --> 00:10:02,650 And then after the initial conversation that we have with the potential business 164 00:10:02,650 --> 00:10:06,400 owner or investor, then we move forward a stage where we say, okay, where 165 00:10:06,410 --> 00:10:08,300 are you thinking of expanding to? 166 00:10:08,409 --> 00:10:09,800 So it could be anywhere in the world. 167 00:10:09,800 --> 00:10:14,519 We've got contacts and, and, uh, ability to, to, to go anywhere in the world. 168 00:10:15,079 --> 00:10:17,970 And then we find out, okay, do we work well together? 169 00:10:18,275 --> 00:10:21,365 If that happens to be a yes, then we move forward and then we 170 00:10:21,365 --> 00:10:23,935 start the planning phase of how a center wants to be looked at. 171 00:10:24,905 --> 00:10:28,494 So is it shared the responsibility of acquiring a piece of land or is it 172 00:10:28,494 --> 00:10:31,435 based mostly on the that small business? 173 00:10:31,435 --> 00:10:35,504 It's a it it really does depend on the location. 174 00:10:35,545 --> 00:10:40,205 Um us as a company We we're more than willing to invest in in the project 175 00:10:40,275 --> 00:10:44,625 ourselves as well If it seems to if it's a project that we are passionate about 176 00:10:45,075 --> 00:10:46,765 and the location really makes sense. 177 00:10:47,095 --> 00:10:52,425 Otherwise we can find, um, investors to invest in the land and purchase that 178 00:10:52,425 --> 00:10:56,165 and have a loan agreement based on that. 179 00:10:56,394 --> 00:10:59,114 And then you can expand, uh, using that facility. 180 00:10:59,840 --> 00:11:01,690 I got, I got a tough question for you, Magnus. 181 00:11:02,360 --> 00:11:05,860 So what, what are the terms, what, what are the basic terms in, in this 182 00:11:05,940 --> 00:11:09,609 Padel thing, going in from business, getting investors or VC or angel, 183 00:11:09,890 --> 00:11:11,340 what are the typical terms here? 184 00:11:12,650 --> 00:11:15,900 So I can only speak, uh, very broadly, obviously. 185 00:11:15,964 --> 00:11:21,115 Um, so with the two models that we have, the loan and the investment model. 186 00:11:21,115 --> 00:11:25,834 So we typically find businesses and match them with investors that we have. 187 00:11:26,615 --> 00:11:29,905 Um, then we negotiate a loan, um, percentage. 188 00:11:29,915 --> 00:11:33,055 So an interest rates that that goes through and the, and the time of period 189 00:11:33,055 --> 00:11:37,015 that that is going to be run on, which is what we are currently doing in Mexico. 190 00:11:37,214 --> 00:11:39,214 Our other version is that we. 191 00:11:39,910 --> 00:11:45,130 Um, either as a business investor in the project or the project is invested, 192 00:11:45,260 --> 00:11:50,120 uh, through several different investors so that that can be, uh, expanded 193 00:11:50,120 --> 00:11:57,019 upon and then it becomes an equity model where we early on decide who is 194 00:11:57,030 --> 00:11:59,330 the primary driver of this business. 195 00:11:59,420 --> 00:12:01,320 And then we execute accordingly. 196 00:12:01,420 --> 00:12:05,400 So if somebody is good at, um, the property part of it, obviously that 197 00:12:05,410 --> 00:12:07,960 has a huge impact on, on the project. 198 00:12:07,960 --> 00:12:08,244 Okay. 199 00:12:08,905 --> 00:12:12,835 So determining on what, what their value is or what they're putting into the 200 00:12:12,835 --> 00:12:16,315 business is going to determine the equity split or the way you're saying, yeah, 201 00:12:16,365 --> 00:12:18,425 it's a, it's a Scandinavian company. 202 00:12:18,454 --> 00:12:21,494 I mean, we're very transparent and very honest about how we want to do things. 203 00:12:21,504 --> 00:12:23,555 So we try to keep it transparent. 204 00:12:24,104 --> 00:12:24,304 Right. 205 00:12:24,304 --> 00:12:26,235 And how do you determine if you're going with a loan? 206 00:12:26,655 --> 00:12:30,745 Uh, you know, a model or an investment model, location, 207 00:12:30,745 --> 00:12:33,225 location, location, I guess, I suppose is the, is the main thing. 208 00:12:33,235 --> 00:12:38,135 I mean, if we're going to build in, in downtown London or downtown Tokyo, but 209 00:12:38,135 --> 00:12:42,085 obviously a property prices becomes, uh, an, an interesting concept. 210 00:12:42,535 --> 00:12:47,555 Um, but, um, it really does just depends on the, uh, the location, really. 211 00:12:48,615 --> 00:12:52,814 And the equity part, it's, it's variable too, or you always have a 212 00:12:52,845 --> 00:12:54,765 set equity that you want to go into. 213 00:12:54,765 --> 00:12:54,825 Thank you. 214 00:12:55,490 --> 00:12:57,230 It's always based on project by project. 215 00:12:57,270 --> 00:12:58,640 We don't want to exclude anyone. 216 00:12:58,640 --> 00:13:00,730 So if somebody wants to have a hundred percent equity on that, 217 00:13:00,760 --> 00:13:04,110 we'll obviously facilitate that and take a consulting role. 218 00:13:04,499 --> 00:13:09,149 Um, but in, in most cases we will end up with a 10 percent equity stake in 219 00:13:09,150 --> 00:13:13,259 the company just to make sure that we're part of the project going forward, 220 00:13:13,709 --> 00:13:17,730 mainly because we've got the experience from Europe, um, to drive this kind of 221 00:13:17,730 --> 00:13:21,890 business, both from a sporting aspect, but also from a business aspect as well. 222 00:13:22,670 --> 00:13:26,119 So, and how do you adapt, um, you know, one thing is to do business 223 00:13:26,119 --> 00:13:28,280 in Sweden or Spain or France. 224 00:13:28,569 --> 00:13:32,039 And then when you jump into this side of the, you know, the world, it's, 225 00:13:32,060 --> 00:13:35,199 it's a complete different thing, you know, Mexico and the United States. 226 00:13:35,199 --> 00:13:40,729 So, how do you learn that locally that the permits and the whole process, 227 00:13:40,730 --> 00:13:44,530 how it goes, you know, Miami with the hurricanes, Mexico with the earthquakes, 228 00:13:45,010 --> 00:13:49,430 um, or the different, you know, loss and permits, how, how do you deal with that? 229 00:13:50,480 --> 00:13:51,920 Um, we cry a lot. 230 00:13:52,100 --> 00:13:54,860 Um, we not sleepless night nights. 231 00:13:55,970 --> 00:13:56,330 ? No. 232 00:13:56,330 --> 00:14:00,110 We, we, we, as, as a company, we've done business pretty much 233 00:14:00,110 --> 00:14:01,370 across the world, across the globe. 234 00:14:01,400 --> 00:14:06,740 So we have an idea of the cultural differences between say, America 235 00:14:06,740 --> 00:14:10,100 and, and Mexico or even the West Coast and East coast, uh, of America. 236 00:14:10,100 --> 00:14:11,420 There are differences there as well. 237 00:14:11,810 --> 00:14:14,870 So I think for us it's, it's important just to understand that. 238 00:14:14,900 --> 00:14:15,230 Okay. 239 00:14:15,755 --> 00:14:19,045 As foreigners, we're going into a new market in terms of Mexico. 240 00:14:19,045 --> 00:14:20,325 We've learned so much. 241 00:14:20,375 --> 00:14:24,084 I mean, probably Mexico as a market is completely different to most 242 00:14:24,084 --> 00:14:27,335 other markets across the globe in, on an investment point of view. 243 00:14:27,955 --> 00:14:32,644 So I think from, from that point of view, if we were able to do well in 244 00:14:32,645 --> 00:14:36,394 Mexico, then we can do well pretty much anywhere I firmly believe. 245 00:14:36,994 --> 00:14:40,624 But the fact that we are Scandinavian and you've seen lots of projects across 246 00:14:40,624 --> 00:14:45,784 the world that have been driven by, by Swedes, especially, um, the, the business. 247 00:14:45,959 --> 00:14:48,680 Model fits very nicely to the culture as well. 248 00:14:48,949 --> 00:14:52,459 So as, as the people were very open, we're very straightforward and we're very 249 00:14:52,459 --> 00:14:54,189 direct in the way we approach business. 250 00:14:54,670 --> 00:14:57,510 And I think that is pretty much transferable to any culture. 251 00:14:58,589 --> 00:14:59,379 That's fantastic. 252 00:14:59,599 --> 00:15:04,319 So let's, now let's go back to the projects where, how many current projects 253 00:15:04,319 --> 00:15:07,979 you have, how many projects that you have done already, give us a little bit of 254 00:15:07,979 --> 00:15:10,469 feedback to our listeners and viewers. 255 00:15:10,905 --> 00:15:11,285 Sure. 256 00:15:11,325 --> 00:15:12,925 So Mexico is our first one. 257 00:15:12,945 --> 00:15:14,265 So that's our proof of concept. 258 00:15:14,805 --> 00:15:21,184 Um, we're in discussions at the moment for three locations in the U S and 259 00:15:21,265 --> 00:15:23,715 two in the UK and one in Australia. 260 00:15:24,535 --> 00:15:30,305 We've got a, quite a firm option in the mid, uh, in the middle of the States, 261 00:15:30,334 --> 00:15:34,025 but that that's going to be coming in at the end of next year probably. 262 00:15:34,475 --> 00:15:37,844 But, um, our focus at the moment is the U S and the UK. 263 00:15:37,845 --> 00:15:38,155 Okay. 264 00:15:38,935 --> 00:15:40,265 And the U S are you East coast? 265 00:15:41,165 --> 00:15:43,555 You know, West Coast where the projects come in. 266 00:15:44,055 --> 00:15:48,075 So 2 of them are on the, um, in the California district 267 00:15:48,105 --> 00:15:50,575 and 1, sorry, there's 4. 268 00:15:50,655 --> 00:15:54,400 So there's 1 in Miami, 1 in Texas and 2 in California. 269 00:15:54,400 --> 00:15:56,165 We're in Miami. 270 00:15:57,115 --> 00:15:58,005 We haven't decided. 271 00:15:58,064 --> 00:16:00,525 We're looking for some, we're looking for a sugar daddy with a bit of land. 272 00:16:02,725 --> 00:16:05,735 We'll have to have a 2nd, uh, you know, interview there and talk about that. 273 00:16:06,775 --> 00:16:06,944 That's exciting. 274 00:16:08,204 --> 00:16:09,525 No, I think it's great. 275 00:16:09,574 --> 00:16:13,305 Uh, uh, the West coast really need some, some more Padel. 276 00:16:13,395 --> 00:16:15,575 Uh, and there's so many projects. 277 00:16:15,665 --> 00:16:17,605 So how is this sweet experience right now? 278 00:16:17,724 --> 00:16:22,694 You know, you guys reach that peak you bottom down now where you guys that. 279 00:16:23,094 --> 00:16:25,605 And then compared to the United States, where do you see it? 280 00:16:26,385 --> 00:16:30,365 So I think, um, obviously Sweden is very much more mature than, uh, than 281 00:16:30,365 --> 00:16:34,405 most mosques, Spain and Sweden are probably the most advanced markets, 282 00:16:34,434 --> 00:16:36,334 uh, in the world at the moment. 283 00:16:36,915 --> 00:16:40,925 So at the moment in Sweden, there's about 450, 000 huddle 284 00:16:40,925 --> 00:16:42,964 players, which is the same as golf. 285 00:16:43,749 --> 00:16:47,670 Um, so I think, yeah, and, and it's, it's quite an impressive number as well. 286 00:16:47,699 --> 00:16:50,829 So, but the, what we've, the interesting part is that we've 287 00:16:50,829 --> 00:16:52,060 seen the amount of clubs go down. 288 00:16:53,439 --> 00:16:57,220 So the concentration of clubs has gone down and they become better clubs 289 00:16:57,249 --> 00:16:59,130 that become better, uh, run clubs. 290 00:16:59,519 --> 00:17:02,310 So what happened at the beginning, everyone had a puddle called 291 00:17:02,459 --> 00:17:04,810 everyone, especially during COVID. 292 00:17:05,690 --> 00:17:09,430 And that was one of the oddly strange, uh, one of the biggest, 293 00:17:09,490 --> 00:17:12,099 um, explosion sports in Sweden. 294 00:17:12,530 --> 00:17:15,569 Obviously, you know, that we didn't have a full lockdown like the rest of the world. 295 00:17:15,970 --> 00:17:18,139 We, we, we did things a little bit differently. 296 00:17:18,510 --> 00:17:20,410 Um, but the sport just exploded. 297 00:17:20,410 --> 00:17:21,489 So everyone had a court. 298 00:17:22,464 --> 00:17:24,785 What happened then was that a big corporation came in, bought 299 00:17:24,785 --> 00:17:29,005 them and they weren't, uh, there was no sense of community. 300 00:17:29,285 --> 00:17:31,305 There was no sense of pride in the clubs. 301 00:17:31,525 --> 00:17:35,325 So what ended up happening there that they got given back to the original owners 302 00:17:35,545 --> 00:17:38,795 and are now driven very successfully because they have that passion. 303 00:17:39,025 --> 00:17:44,154 They have that connection to the community and that connection is priceless. 304 00:17:44,224 --> 00:17:47,564 And I think a lot of the time it gets ignored or. 305 00:17:47,830 --> 00:17:51,730 Um, it doesn't get taken seriously, which is what we want 306 00:17:51,730 --> 00:17:54,360 to avoid with our, uh, arenas. 307 00:17:54,780 --> 00:17:56,540 So what are your tactics to do that? 308 00:17:57,629 --> 00:17:59,379 I mean, it's easier said than done, right? 309 00:17:59,530 --> 00:18:01,560 So do you get into politically? 310 00:18:01,590 --> 00:18:04,099 Do you talk with businesses, corporations? 311 00:18:04,099 --> 00:18:07,399 Why don't you talk to reviewers, uh, how they can, they can start doing that. 312 00:18:08,050 --> 00:18:09,790 So the foundation is all about money. 313 00:18:09,790 --> 00:18:14,969 Unfortunately, any sport is, is, uh, driven by the economic benefits, 314 00:18:15,280 --> 00:18:16,729 but the health benefits as well. 315 00:18:16,959 --> 00:18:20,929 So a healthy, um, a healthy people and the better it is 316 00:18:20,929 --> 00:18:22,520 for, for, for local government. 317 00:18:22,900 --> 00:18:25,649 So what we've started to do now is we've started to have conversations 318 00:18:25,650 --> 00:18:30,439 with local government to see if we can play into their, um, agendas. 319 00:18:30,920 --> 00:18:31,440 locally. 320 00:18:31,790 --> 00:18:34,710 We talk to local community leaders, we talk to local businesses to find 321 00:18:34,710 --> 00:18:40,860 out, engage with them to see, so how can they get involved in the sport 322 00:18:41,039 --> 00:18:46,450 in terms of advertising, in terms of events at the venue, and what's missing 323 00:18:46,450 --> 00:18:50,940 in the local community, is there a specific kind of school that is, that 324 00:18:50,940 --> 00:18:52,810 needs help getting more interested? 325 00:18:53,170 --> 00:18:56,620 Kids more into sports, uh, the elderly, the disabled. 326 00:18:56,780 --> 00:19:00,820 So we'd like to talk to as many people as we possibly can to form that 327 00:19:00,820 --> 00:19:05,730 specific venue, according to the local community, then with the containers and 328 00:19:05,730 --> 00:19:07,470 the restaurant, we don't want chains. 329 00:19:07,470 --> 00:19:08,979 We don't want these big McDonald's. 330 00:19:08,980 --> 00:19:14,409 We don't want to have any, um, uh, big, two big corporations for this because we. 331 00:19:14,580 --> 00:19:16,549 It is a community based sport. 332 00:19:16,860 --> 00:19:21,149 So we want local artists, we want local, um, companies to 333 00:19:21,149 --> 00:19:22,769 have the the coffee shop there. 334 00:19:22,769 --> 00:19:27,840 We want, um, whoever is in the local community and has the ability to to run a 335 00:19:27,840 --> 00:19:30,969 shop there, help them get in, get into it. 336 00:19:31,889 --> 00:19:33,999 Uh, so maybe even after school programs. 337 00:19:34,580 --> 00:19:34,610 Okay. 338 00:19:34,629 --> 00:19:35,800 And that exactly. 339 00:19:35,810 --> 00:19:39,510 So we're working quite a lot with a few charities in Mexico as well. 340 00:19:39,510 --> 00:19:44,460 And we're going to be giving away quite a few, um, scholarships to 341 00:19:44,460 --> 00:19:49,679 local talents and, and through bull puddle and a few other, and Novato 342 00:19:50,709 --> 00:19:52,840 is also pitching in here as well. 343 00:19:55,530 --> 00:20:01,100 Definitely a focus on, on giving young talent the chance to actually do well. 344 00:20:01,939 --> 00:20:02,279 Okay. 345 00:20:02,279 --> 00:20:07,270 So let's talk to a future, you know, Padel club owners or inspiring ones. 346 00:20:07,730 --> 00:20:11,929 What, what boxes do, do they need to have to check check mark off 347 00:20:12,230 --> 00:20:15,740 for you guys to be like, Hey, this is a good candidate to invest in. 348 00:20:16,850 --> 00:20:21,099 So first passion, you have to have a passion, um, and you have 349 00:20:21,099 --> 00:20:23,830 to have the drive and willingness to put in the long hours. 350 00:20:23,860 --> 00:20:29,900 It's been, it's been at times painful, um, to, to do the Mexican thing. 351 00:20:30,295 --> 00:20:31,765 It's been frustrating. 352 00:20:31,845 --> 00:20:33,115 Uh, there have been tears. 353 00:20:33,115 --> 00:20:34,395 There's been quite a lot of drama. 354 00:20:34,845 --> 00:20:38,705 Um, but um, If you don't have that drive, you're not going to succeed So 355 00:20:38,705 --> 00:20:43,454 what we'll do as as a as a consultancy, we'll we'll sit with with the potential 356 00:20:43,855 --> 00:20:47,754 Owners or investors and understand so from an investor point of view. 357 00:20:47,755 --> 00:20:50,909 This is what's required and from a An owner point of view, 358 00:20:50,909 --> 00:20:51,929 this is what is required. 359 00:20:51,960 --> 00:20:54,750 And then we try and match the people that work together that well. 360 00:20:55,230 --> 00:20:59,429 So if somebody's really experienced in business, but no sports, we try to pair 361 00:20:59,429 --> 00:21:02,610 them with somebody who has a background in sports and vice versa, obviously, 362 00:21:02,615 --> 00:21:07,080 because, uh, it, it'll only benefit whoever is running the, the place to 363 00:21:07,080 --> 00:21:09,300 have the opposite counterpart running it. 364 00:21:09,980 --> 00:21:12,500 And then we also obviously pitch in with the marketing. 365 00:21:12,500 --> 00:21:16,180 We pitch in with, um, anything that we can do as a company. 366 00:21:16,470 --> 00:21:17,470 To make them succeed. 367 00:21:17,680 --> 00:21:21,200 And this is why we try and retain a 10 percent ownership in that because it 368 00:21:21,200 --> 00:21:23,480 gives us the motivation to also do that. 369 00:21:23,929 --> 00:21:27,280 And we don't want to take away the money from the, the venue and the 370 00:21:27,280 --> 00:21:31,240 owner either, because that money can go back into community programs. 371 00:21:31,640 --> 00:21:35,290 So we'll go, we'll sit with the community, help them build community programs, 372 00:21:35,570 --> 00:21:39,830 outreach programs, um, training programs, school programs, whatever's required. 373 00:21:40,510 --> 00:21:42,190 But we mustn't forget this is. 374 00:21:42,565 --> 00:21:43,415 It's a money game. 375 00:21:43,415 --> 00:21:44,535 They have to make a profit. 376 00:21:45,245 --> 00:21:47,465 So in terms of Sorry, go ahead. 377 00:21:48,055 --> 00:21:49,015 No, not finish. 378 00:21:49,055 --> 00:21:49,385 I'm sorry. 379 00:21:49,475 --> 00:21:53,455 So in terms of an angel investor, for example, our investor There is a return 380 00:21:53,455 --> 00:21:57,775 on investment within three to five years and that is with very very realistic 381 00:21:57,775 --> 00:22:03,575 booking numbers at about 40 to 50 Uh, sorry 30 to 40 Looking and the rest of the 382 00:22:03,575 --> 00:22:08,235 money comes from all of the other streams in business like sponsorship rentals 383 00:22:08,695 --> 00:22:13,975 restaurants Everything so, um, you said 10 percent agrees that to the agency. 384 00:22:14,055 --> 00:22:14,575 I'm assuming. 385 00:22:14,760 --> 00:22:18,410 No, that's their company. 386 00:22:18,420 --> 00:22:18,730 Yes. 387 00:22:19,150 --> 00:22:19,480 Okay. 388 00:22:19,490 --> 00:22:22,889 So what, what services do you provide for that 10 percent equity? 389 00:22:23,870 --> 00:22:27,170 So we'll, we'll, um, put, um, obviously we'll help them with 390 00:22:27,290 --> 00:22:28,539 negotiations with sponsors. 391 00:22:28,540 --> 00:22:32,569 We'll help them negotiation with finding, um, what kind of courts they want. 392 00:22:32,579 --> 00:22:36,779 So we were in initial conversations with quite a few of the major court 393 00:22:36,819 --> 00:22:40,359 manufacturers to, to be, to choose one that will go into all of our 394 00:22:40,359 --> 00:22:45,079 centers that will then obviously, um, equate into a cheaper courts. 395 00:22:45,525 --> 00:22:46,685 Uh, and lower prices. 396 00:22:46,685 --> 00:22:48,475 So the investment becomes lower. 397 00:22:48,475 --> 00:22:53,905 We try and keep, um, sponsors on boards that are big enough. 398 00:22:53,905 --> 00:22:58,454 So if we had a, um, Coca Cola, for example, we would approach them and 399 00:22:58,454 --> 00:23:02,694 say, listen, we've got centers in America, Mexico, UK, we would like for 400 00:23:02,694 --> 00:23:06,295 you to sponsor all of these venues and we will, then we would distribute that 401 00:23:06,295 --> 00:23:07,985 sponsorship money to all the centers. 402 00:23:08,435 --> 00:23:11,435 And then obviously have an agreement in place so that they can 403 00:23:11,435 --> 00:23:13,085 generate extra revenue from that. 404 00:23:13,615 --> 00:23:15,705 So we're basically facilitating them. 405 00:23:15,965 --> 00:23:17,365 We'll, we'll help them with coaching. 406 00:23:17,365 --> 00:23:19,474 We'll help them finding professionals. 407 00:23:19,845 --> 00:23:23,255 We'll do anything that's required effectively to make them a success. 408 00:23:24,435 --> 00:23:28,494 So compare the, the, tell us how far you're in advance with the Mexican. 409 00:23:28,494 --> 00:23:30,504 Is the Mexican club already operational? 410 00:23:31,674 --> 00:23:34,925 We're in the final stages of, uh, Lawyers are involved. 411 00:23:34,935 --> 00:23:37,684 Let's just put it that way. 412 00:23:37,685 --> 00:23:40,205 So are you guys in Mexico City or where are you? 413 00:23:40,274 --> 00:23:40,864 Where are you looking? 414 00:23:40,985 --> 00:23:41,534 Metapec. 415 00:23:41,544 --> 00:23:42,564 So about an hour outside. 416 00:23:42,574 --> 00:23:44,675 Toluca is the closest city. 417 00:23:45,495 --> 00:23:46,774 And how many courts do you have there? 418 00:23:47,464 --> 00:23:50,995 We will have nine standard, standard courts and two championship courts 419 00:23:50,995 --> 00:23:55,094 with an arena so that people can watch the tournaments, et cetera. 420 00:23:55,785 --> 00:23:56,705 Indoors or outdoors? 421 00:23:57,775 --> 00:23:58,935 Uh, that is optional. 422 00:23:58,935 --> 00:24:02,635 So at the moment we'll, we're going to have a form of roof, but it's not 423 00:24:02,695 --> 00:24:06,335 really closed because of obviously the, the temperatures in Mexico 424 00:24:06,335 --> 00:24:09,115 are very beneficial compared to, you have to have a roof in Sweden. 425 00:24:09,144 --> 00:24:09,634 Otherwise. 426 00:24:10,179 --> 00:24:12,770 It's not an option, but in Mexico, you have the option of not doing that. 427 00:24:13,129 --> 00:24:15,229 And that's the benefit of our model as well. 428 00:24:15,239 --> 00:24:17,050 And you can choose without Ruth, you can choose with Ruth. 429 00:24:17,070 --> 00:24:21,439 You can basically mix and match according to the requirements of the local venue. 430 00:24:22,450 --> 00:24:26,269 And then here in the United States, are you trying to do something similar? 431 00:24:27,154 --> 00:24:31,004 We are, we want to take the concept and move it to, to, to the United States. 432 00:24:31,084 --> 00:24:35,675 Uh, and ideally we would, uh, then look to, to go for areas 433 00:24:35,715 --> 00:24:37,054 that are not fully developed yet. 434 00:24:37,715 --> 00:24:40,705 Um, California, as you said, there, there is a lot of things going on 435 00:24:40,705 --> 00:24:45,404 there, but there's nothing community based in the same way we are doing. 436 00:24:45,705 --> 00:24:48,685 And I also think actually Miami is, is a fantastic location for 437 00:24:48,685 --> 00:24:50,175 that ability in a community. 438 00:24:50,605 --> 00:24:54,124 There is such a passion for the sport there, but, and again, most 439 00:24:54,125 --> 00:24:56,465 of the venues there are prime. 440 00:24:57,100 --> 00:25:01,690 Um, pricing wise and also, uh, it's a very high end establishment. 441 00:25:02,020 --> 00:25:06,210 We're looking for the mid markets to to to really capture the imagination. 442 00:25:07,839 --> 00:25:12,600 Now, um, in your model, is there an exit plan at certain point or not? 443 00:25:13,599 --> 00:25:15,700 No, we have no plans of exiting. 444 00:25:15,740 --> 00:25:16,644 Um, so. 445 00:25:16,835 --> 00:25:19,955 I'm not naive enough to think that somebody's not gonna try and buy 446 00:25:19,955 --> 00:25:24,524 us, uh, at some point if there is a success and we'll cross that, uh, 447 00:25:24,535 --> 00:25:28,524 bridge when we get to it, but we have no plans of, of, uh, a jumping ship. 448 00:25:28,575 --> 00:25:29,644 This is, this is our passion. 449 00:25:29,655 --> 00:25:30,705 This is what we love to do. 450 00:25:30,985 --> 00:25:32,715 We love sports and we love puddle. 451 00:25:33,024 --> 00:25:35,084 So for us, it's, it's, we're in the long haul. 452 00:25:35,595 --> 00:25:37,915 I'm not necessarily in your agency, but I mean in the clubs 453 00:25:37,915 --> 00:25:38,955 that you're putting together. 454 00:25:40,605 --> 00:25:42,495 So that, again, I think that depends. 455 00:25:42,535 --> 00:25:48,085 I mean, if, for any club that we have an ownership on, we would prefer that the 456 00:25:48,085 --> 00:25:50,195 same owner sticks with it for a while. 457 00:25:50,765 --> 00:25:55,084 However, considering they have a 90 percent stake in it, then we will support 458 00:25:55,095 --> 00:25:58,675 a sale should that happen down the line. 459 00:26:00,665 --> 00:26:00,975 That's it. 460 00:26:00,995 --> 00:26:01,574 That's interesting. 461 00:26:01,574 --> 00:26:02,865 So let me ask one thing. 462 00:26:02,895 --> 00:26:04,705 Uh, you're originally from Sweden, correct? 463 00:26:05,415 --> 00:26:09,415 I'm actually half English, half Norwegian, and I temporarily live in Sweden. 464 00:26:10,995 --> 00:26:11,854 So you live in Sweden? 465 00:26:12,325 --> 00:26:12,945 I do, yes. 466 00:26:13,844 --> 00:26:16,264 So let me ask you something very interesting that happened. 467 00:26:16,314 --> 00:26:22,165 Um, Sweden was not, not even closing the map in the world championships of battle. 468 00:26:22,165 --> 00:26:25,995 You know, the seniors, they opened on the, the juniors. 469 00:26:26,545 --> 00:26:30,315 The, you guys ended up, Third or the Swedes ended up third 470 00:26:30,335 --> 00:26:31,715 on the last junior world cup. 471 00:26:32,555 --> 00:26:35,485 Do you think what what do you think happened there? 472 00:26:35,645 --> 00:26:40,265 From being nowhere in the top 20 to ended up, you know, the on the 473 00:26:40,265 --> 00:26:43,795 best top three on in the world We're trying to make friends here, man. 474 00:26:43,805 --> 00:26:44,315 Not enemies. 475 00:26:44,345 --> 00:26:44,604 Come on. 476 00:26:44,605 --> 00:26:49,575 Yeah So my norwegian part wants to uh, really say something bad about sweden, 477 00:26:49,625 --> 00:26:50,845 but my english part is stopping me. 478 00:26:50,845 --> 00:26:55,535 So No, I'm going back to what you were saying that. 479 00:26:55,645 --> 00:26:59,645 Uh You You know, you guys have the peak on the bottoms and then the clubs 480 00:26:59,645 --> 00:27:03,755 that survive focus really in community and programming and things like that. 481 00:27:03,755 --> 00:27:07,195 And I believe that 1 of the things that the suites really focus 482 00:27:07,195 --> 00:27:08,595 on is in junior development. 483 00:27:09,365 --> 00:27:13,995 And that was the result of, you know, that junior development the last, 484 00:27:14,045 --> 00:27:19,665 you know, 4 or 5 years that you guys created a top notch junior teams. 485 00:27:20,125 --> 00:27:21,155 That that's my belief. 486 00:27:22,325 --> 00:27:23,825 No, I would have to agree with you there. 487 00:27:23,825 --> 00:27:29,915 I think the grassroots as we've spoken about is the key to success in any sport. 488 00:27:30,344 --> 00:27:34,464 So if you have a strong grassroots movement, then you 489 00:27:34,464 --> 00:27:36,534 will see progress down the line. 490 00:27:36,784 --> 00:27:41,880 I think what happened in Sweden was that because there were so many Padel arenas. 491 00:27:42,350 --> 00:27:46,710 Um, it wasn't developing in the way that they wanted to. 492 00:27:46,710 --> 00:27:50,349 And it was primarily focused on the money side of it. 493 00:27:51,119 --> 00:27:58,399 When COVID ended and the sport really, uh, took its, um, um, place in, in the market. 494 00:27:58,589 --> 00:28:03,300 I think that's when you started to see the youth really getting involved in this. 495 00:28:03,629 --> 00:28:07,199 Um, and because it's, it's a smaller court, it's more explosive. 496 00:28:07,199 --> 00:28:10,564 It's more, um, It's more complex. 497 00:28:10,784 --> 00:28:15,395 I think that pretty much, um, sold it to the Swedes, um, from that perspective. 498 00:28:16,925 --> 00:28:20,024 You talked a little bit about business, uh, and, and sports. 499 00:28:20,075 --> 00:28:22,785 How do you relate both of them together and how do you create a balance? 500 00:28:24,094 --> 00:28:28,654 So Deloitte came out with a, uh, uh, a survey and they found that 501 00:28:28,834 --> 00:28:33,585 the Padel market by 2028 is going to be worth approximately 4. 502 00:28:33,635 --> 00:28:35,175 3 billion US dollars. 503 00:28:35,604 --> 00:28:38,644 While the meetings and facilities industry. 504 00:28:38,845 --> 00:28:39,435 Is valued at 1. 505 00:28:39,435 --> 00:28:42,514 2 trillion by that same year. 506 00:28:43,175 --> 00:28:47,365 So for us, it seemed like a very logical, um, connection to put the 507 00:28:47,365 --> 00:28:52,135 two together because what we've seen from the explosion in golf is that 508 00:28:52,165 --> 00:28:54,534 golf and business go hand in hand. 509 00:28:55,225 --> 00:28:57,945 We want to steal from golf effectively. 510 00:28:58,185 --> 00:29:04,195 We want to recreate that model and, and make it a business friendly, 511 00:29:04,375 --> 00:29:10,355 but also a competitive environment so that, um, it can, it can, it can 512 00:29:10,355 --> 00:29:13,645 flourish in both the corporate world, but also in the professional world. 513 00:29:15,084 --> 00:29:15,314 Wow. 514 00:29:15,314 --> 00:29:15,854 That's genius. 515 00:29:15,854 --> 00:29:16,124 Yeah. 516 00:29:16,135 --> 00:29:18,504 I mean, focus on something that already works, you know? 517 00:29:18,905 --> 00:29:19,135 Yeah. 518 00:29:19,415 --> 00:29:24,315 Going back to the business world, I live that every day that, uh, uh, at our club 519 00:29:24,325 --> 00:29:30,185 ultra where People are telling me that, you know, they come to the club, not only 520 00:29:30,185 --> 00:29:34,895 just to play Padel, but they have nice local rooms where they can shower and 521 00:29:34,895 --> 00:29:37,015 then they can spend time a couple hours. 522 00:29:37,015 --> 00:29:40,545 They're doing some work, you know, you know, sitting on the tables 523 00:29:40,545 --> 00:29:43,705 and having a cup of coffee and all that and creating that community. 524 00:29:44,105 --> 00:29:45,915 It goes with your. 525 00:29:46,345 --> 00:29:50,105 Your vision as, as you know, as an investor, I mean, I think that's the 526 00:29:50,125 --> 00:29:53,065 key creating the whole 360 synergy. 527 00:29:53,075 --> 00:29:55,015 It's crucial for the success of the club. 528 00:29:55,235 --> 00:30:00,195 Is that also part of your model, creating like a business, um, location where 529 00:30:00,195 --> 00:30:04,105 people could do their work and stay there, do their work and play Padel 530 00:30:04,105 --> 00:30:07,135 and so forth, or even rent spaces out. 531 00:30:07,165 --> 00:30:10,465 Um, is that also an option or something you guys focus on? 532 00:30:11,055 --> 00:30:12,295 So we have a business center. 533 00:30:12,655 --> 00:30:15,215 Um, that will be available to members as well. 534 00:30:15,285 --> 00:30:18,555 Uh, we're, we're debating a little bit, depending on location, whether it won't, 535 00:30:18,605 --> 00:30:23,215 we could at least that out to it, kind of a, we work version, um, just, uh, 536 00:30:23,365 --> 00:30:28,985 uh, a successful one and, or that, that we're good to rent it out by the hour, 537 00:30:29,025 --> 00:30:33,475 either way, members of the club and even non members, cause we don't want. 538 00:30:33,830 --> 00:30:35,310 We don't want to lock it to members. 539 00:30:35,310 --> 00:30:38,830 We want the community, everyone to get involved in, in the sport. 540 00:30:39,280 --> 00:30:42,280 So if you, if you start off in the business center and you watch it, 541 00:30:42,280 --> 00:30:44,000 you might get involved or vice versa. 542 00:30:44,020 --> 00:30:46,250 You'll see that when you're playing, you'll see people 543 00:30:46,250 --> 00:30:47,230 going into a meeting room. 544 00:30:47,230 --> 00:30:50,090 You'll inquire about that and you can say, okay, well, I can do a 545 00:30:50,090 --> 00:30:53,280 little bit of business here either before or after I've played a game. 546 00:30:53,920 --> 00:30:56,670 And then you can enjoy the bar and then you keep them. 547 00:30:56,990 --> 00:31:00,900 On the venue and and that's I think is how you how you develop that 548 00:31:00,900 --> 00:31:04,100 community and how you get people involved in the sport As well. 549 00:31:04,420 --> 00:31:07,550 It doesn't have to be sports only it could be business And then we 550 00:31:07,550 --> 00:31:10,570 see intra entrepreneurs that will be setting up there as well and I 551 00:31:10,610 --> 00:31:14,290 think business meetings and bringing external people in So for us it kind 552 00:31:14,290 --> 00:31:15,980 of made sense to try and marry the two. 553 00:31:16,890 --> 00:31:20,530 Yeah That I truly believe that the secret of success, you 554 00:31:20,530 --> 00:31:22,360 know, and to invest in a club. 555 00:31:22,430 --> 00:31:25,055 Um How many courts do they have to be? 556 00:31:25,245 --> 00:31:26,495 Do they have to be indoor? 557 00:31:26,755 --> 00:31:28,435 Can some of it be outdoor? 558 00:31:28,575 --> 00:31:31,934 Um, what are you guys really looking for? 559 00:31:31,935 --> 00:31:34,635 So, for the, for the courts, I think it's very important. 560 00:31:34,655 --> 00:31:36,275 Again, it depends on where it's located. 561 00:31:36,285 --> 00:31:38,825 So, if it's in Toronto, outside courts is not going to work, right? 562 00:31:39,255 --> 00:31:43,565 So, if it's in Miami, Probably more likely to have outdoor courts, majority and the 563 00:31:43,565 --> 00:31:47,895 majority outside courts, but also have indoor courts for schools, especially, 564 00:31:47,945 --> 00:31:52,475 and for that security aspect of for kids to come into the venue and feel 565 00:31:52,475 --> 00:31:54,065 safe in, in, in, in that environment. 566 00:31:54,805 --> 00:31:58,035 Um, if it's raining, you can still play if it's, if you have a few 567 00:31:58,035 --> 00:32:01,445 indoor courts so that you'll, you'll always have that revenue flow in 568 00:32:01,445 --> 00:32:05,305 Mexico, even though it is an extremely warm country, we've, we've put a. 569 00:32:05,920 --> 00:32:07,100 semi roof on. 570 00:32:07,330 --> 00:32:12,180 So as I said, it'll cover everything and stop the sun, but the wind flow and 571 00:32:12,190 --> 00:32:14,190 the air flow will be constant there. 572 00:32:14,190 --> 00:32:17,250 So there, you will have an outdoor feel to it. 573 00:32:17,800 --> 00:32:20,500 Um, and again, it depends on the location. 574 00:32:20,510 --> 00:32:24,820 If you're on the coast, on the cliffs, obviously having some sort of wind 575 00:32:24,920 --> 00:32:28,990 deterrent would make sense, but if you're inland, you might have some other issues. 576 00:32:29,705 --> 00:32:33,055 So, what's the minimum core and minimum, like, uh, square footage 577 00:32:33,065 --> 00:32:36,495 or acreage of the property has to be for you guys to invest in the club. 578 00:32:37,765 --> 00:32:42,865 So, in terms of size, I think what we've recommended is 579 00:32:42,865 --> 00:32:44,945 that we have a minimum of 989. 580 00:32:46,390 --> 00:32:50,590 Seven courts as a bare minimum, because otherwise from a financial sustainability 581 00:32:50,670 --> 00:32:52,930 model, it becomes a bit complicated. 582 00:32:53,520 --> 00:32:57,830 Um, you need that many to drive the restaurant, uh, and you need that 583 00:32:57,830 --> 00:33:02,030 many to drive people in engagement into the container shops as well, 584 00:33:02,370 --> 00:33:03,640 and also to the business center. 585 00:33:04,060 --> 00:33:07,810 Too small, people won't look at it as a serious venture. 586 00:33:08,235 --> 00:33:12,925 But if you have a decent size of seven, eight, nine, then people will come up. 587 00:33:13,025 --> 00:33:14,965 I don't think it should be too big either. 588 00:33:15,245 --> 00:33:19,525 So you need to have a cap and we haven't quite worked out the best 589 00:33:19,945 --> 00:33:23,255 cap for that yet, but it's something that will be coming pretty soon. 590 00:33:23,255 --> 00:33:23,465 I think. 591 00:33:23,465 --> 00:33:28,475 How about in areas that people want to build clubs, but, uh, you know, there's 592 00:33:28,475 --> 00:33:30,735 no exposure there yet and you get time. 593 00:33:30,980 --> 00:33:32,200 You have to educate people. 594 00:33:32,200 --> 00:33:37,020 Are you still looking for that many courts or, uh, you're, you're going to 595 00:33:37,020 --> 00:33:41,620 invest in a company and maybe that puts up four courts with a option of potential 596 00:33:41,620 --> 00:33:44,510 putting in another four or, or, or six. 597 00:33:45,610 --> 00:33:50,860 I think, um, we would probably not go into the areas where anything 598 00:33:50,860 --> 00:33:52,690 less than seven or eight would go in. 599 00:33:52,720 --> 00:33:56,930 I think it would be unfair for us to go in there and unfair for the 600 00:33:56,930 --> 00:33:58,210 investor to go in there as well. 601 00:33:58,650 --> 00:34:01,800 So we wouldn't be able to support them at the same level. 602 00:34:02,030 --> 00:34:04,220 So we would probably, uh, advise them. 603 00:34:04,230 --> 00:34:08,340 We can easily advise them from a consultancy point of view, but from, 604 00:34:08,360 --> 00:34:12,640 from our investors, I don't think it's, it's, uh, the best way to, to go forward. 605 00:34:13,340 --> 00:34:16,290 Even in an area that there's no exposure, you need to educate people about. 606 00:34:16,680 --> 00:34:22,350 Uh, uh, Padel or you won't, you won't really, you'll, you'll avoid those areas. 607 00:34:23,280 --> 00:34:28,190 Um, we won't avoid them, but we, we would, we would prefer to attack that 608 00:34:28,190 --> 00:34:30,450 from a consultancy point of view. 609 00:34:30,630 --> 00:34:35,160 However, we have investors that also are from home, have hometowns 610 00:34:35,190 --> 00:34:38,230 in, in small areas that want to get, um, really go for it. 611 00:34:38,500 --> 00:34:40,750 Obviously we're not going to say no to them either. 612 00:34:41,370 --> 00:34:43,990 So let's talk a little bit, something very, very interesting that you 613 00:34:43,990 --> 00:34:45,830 mentioned before, sustainability. 614 00:34:46,060 --> 00:34:50,540 Um, how's the whole process works and what is exactly so for our viewers 615 00:34:50,590 --> 00:34:52,180 and listeners to, to learn more. 616 00:34:53,020 --> 00:34:55,690 So we have three sustainability models, which is based on 617 00:34:55,690 --> 00:34:58,060 economics, sport and environmental. 618 00:34:58,510 --> 00:35:02,390 So for us, that is the, the, the pillar to success as well 619 00:35:02,390 --> 00:35:04,320 as the, uh, as everything else. 620 00:35:04,590 --> 00:35:08,130 So from a environmental point of view, we install sun cells on top 621 00:35:08,130 --> 00:35:10,030 of, uh, the, all of our venues. 622 00:35:10,565 --> 00:35:16,085 So that's the place is then self sufficient and they can then obviously 623 00:35:16,085 --> 00:35:21,065 sell then any access energy to the grid back in various countries. 624 00:35:21,395 --> 00:35:25,385 So I know here in Sweden, for example, that is a very successful model because 625 00:35:25,385 --> 00:35:30,305 we generate, even though the two months that we do get sun, um, it's a lot of sun. 626 00:35:30,325 --> 00:35:31,105 So we, they. 627 00:35:31,350 --> 00:35:37,140 That energy can get sold back to the grid and then, um, they, they can get 628 00:35:37,140 --> 00:35:38,800 a decent income from that as well. 629 00:35:39,050 --> 00:35:43,260 So that filters back in then to the economic sustainability. 630 00:35:43,530 --> 00:35:48,130 We want the, the venue to be sustainable, not only based on sport, but also 631 00:35:48,130 --> 00:35:49,640 from business and local community. 632 00:35:49,990 --> 00:35:54,310 If you can get everyone involved, um, you, we, we estimate that 633 00:35:54,310 --> 00:35:59,120 70 percent of the income of the center could be non sports related. 634 00:36:00,225 --> 00:36:04,905 And I think from that point of view, the stress of running a club becomes a 635 00:36:04,905 --> 00:36:09,465 lot less, you can focus on the sports instead of focusing on the money part. 636 00:36:09,965 --> 00:36:14,915 And then you can really, really drive, uh, the game home with, 637 00:36:15,035 --> 00:36:16,885 with every aspect of the community. 638 00:36:18,120 --> 00:36:18,720 That's amazing. 639 00:36:18,900 --> 00:36:20,570 That's genius, to be honest with you. 640 00:36:21,010 --> 00:36:22,640 Let's talk about something exciting. 641 00:36:22,690 --> 00:36:23,920 Paquito Navarro. 642 00:36:23,920 --> 00:36:29,110 What is the link between you, the company, and the super mega 643 00:36:29,140 --> 00:36:31,449 Padel star, Paquito Navarro? 644 00:36:31,530 --> 00:36:36,899 Yes, we're lucky enough for Patrick, our co partner, to 645 00:36:36,900 --> 00:36:38,480 know a few people in Padel. 646 00:36:38,940 --> 00:36:41,830 And we reached out to him, and he loved our idea. 647 00:36:42,390 --> 00:36:46,970 He thought it was a really good way for him to get involved into Mexico as well. 648 00:36:47,240 --> 00:36:50,710 So we're, we're currently talking to him about, uh, having an exclusive 649 00:36:50,710 --> 00:36:55,950 deal with his platform on, uh, at our venues so that people can 650 00:36:55,960 --> 00:36:58,070 then learn the sport a lot better. 651 00:36:58,410 --> 00:37:00,380 And then the, his program could then. 652 00:37:00,805 --> 00:37:04,505 help develop the next generation of Mexican stars into battle. 653 00:37:04,805 --> 00:37:06,465 So it's a great marriage for us. 654 00:37:06,465 --> 00:37:10,285 We're incredibly lucky to even be considered by him. 655 00:37:10,585 --> 00:37:12,145 We're very eternally grateful for that. 656 00:37:12,205 --> 00:37:15,225 But I think I think it's a testament to the project. 657 00:37:16,915 --> 00:37:19,685 All right, Magnus, let's talk about the North American expansion. 658 00:37:19,695 --> 00:37:20,755 And what are your goals there? 659 00:37:22,120 --> 00:37:27,260 Well, we want, uh, our biggest goal is to ensure that Padel is 660 00:37:27,270 --> 00:37:29,530 entered into the Olympics in 2032. 661 00:37:30,110 --> 00:37:34,110 For us, I think that's the, that's, uh, the lofty goal that we have. 662 00:37:34,450 --> 00:37:37,470 And to do that, you need a considerable amount of players. 663 00:37:38,370 --> 00:37:41,540 Any sport to get into the Olympics, that is the holy grail, I think. 664 00:37:42,080 --> 00:37:46,150 And if we can do it through America, and I think, considering that, what's 665 00:37:46,150 --> 00:37:50,570 it, 90 percent of all sponsorships into the Olympics are American or Chinese, I 666 00:37:51,120 --> 00:37:53,640 It is a market that needs to be strong. 667 00:37:54,270 --> 00:37:57,910 Um, and with the financial muscle in the, in the U S as well, and the, 668 00:37:57,940 --> 00:38:02,750 uh, and the interest in sport in the sport, uh, in the U S it makes sense. 669 00:38:03,050 --> 00:38:06,470 So for us, the U S is our next frontier. 670 00:38:07,000 --> 00:38:11,110 We've proven the concept we've got interested, um, backers in Mexico. 671 00:38:11,110 --> 00:38:14,450 Now we want to bring, bring it over to America in all its 672 00:38:14,460 --> 00:38:16,460 glory and further develop. 673 00:38:16,760 --> 00:38:17,780 The concept there. 674 00:38:17,950 --> 00:38:19,710 Okay, Magnus, thank you for coming on the show. 675 00:38:19,720 --> 00:38:22,300 We want to welcome you, uh, wish you all the luck. 676 00:38:22,760 --> 00:38:23,749 All the luck. 677 00:38:23,750 --> 00:38:24,279 very much. 678 00:38:24,460 --> 00:38:26,500 We are All Things Battle.