Joanna Danielle Olsen is the proprietor of multiple Coyote Ugly Saloons. She has thrived in a male-dominated profession, shattered the glass ceiling, and achieved huge milestones throughout her career. She and Moshe discuss entrepreneurship, running a prolific business, and why she loves the real estate industry.
Why Coyote Ugly’s been so successful for so long:
“I think it’s successful because it’s a mix of everyone who just wants to go out and have fun and forget their problems. It’s choreographed dances on the bar, and it’s a very fun atmosphere where we encourage people to let loose, drink, and the women are invited to dance on the bar and just have a really good time.”
Why it’s so critical to treat your staff like family:
“One hundred percent. That’s so important. And I’ve had that ethic since day one and (my staff) is like a family to me. From the cleaning person to the bathroom valet, most of them have been with me since day one. And when we go through times, whether it’s COVID or a hurricane or all these unknown things – as you know when you’re an entrepreneur those things come out of nowhere –you have to be the main leader and get your whole entire crew through those difficult times.”
The autonomy she was given when she launched her “Coyote Ugly” franchises:
“I had the opportunity to make Coyote Ugly the way I wanted. It’s not like a McDonalds where they’re like, ‘This is how you’re going to do it.’ And you adjust each one to a different city. If you go to Coyote Ugly each city is very different. And location is key. So, when I look at buying real estate it has to be in the best location and that is the number one thing. I think (for the success) of nightclubs, bars, and restaurants you have to have a great location, great parking, all those other things that are super important.”
Why you should definitely buy the land your business sits on:
“I’ve always believed in owning the dirt. I bought my first condo when I was 22 years old and have grown that, and grown a real estate business from that. … My experience was, when I was in Atlanta and had Coyote Ugly a big lesson learned was that we had a five-year-lease and the lease was up and my landlord came to me and said, ‘You’ve been great. The business was booming, but I’m putting a parking garage here. So, you’re done.’ I remember that being one of the most heartbreaking times because it was my first one, and it really broke my heart for my staff. So, I said, ‘I will never let this happen again and I will make sure I only buy my buildings from now on.”
What the name Coyote Ugly means:
“It comes from when you have a nice fun night out and you go home with someone, and you wake up and you don’t really know where you are, and you look over, and you’re like, ‘Oh, my God what’s happening?’ So, coyotes bite their arm off out of a trap in order to escape. So, coyote ugly means you’d rather bite your arm off than wake that person up and sneak out.”
Going all in on her first investment:
“I put all my skin in the game. I maxed out every credit card I had. I put in equally as much as the (other investors) did into the business. So, they saw that I was like, ‘This is not going to fail. I have everything on the line.’”
On being a business owner in her early twenties:
“My biggest challenge was getting people to believe in me at age 24 and being a female. There were a lot of haters and doubters out there. … I think one percent of all people are females in this business. To me, I just felt like you work hard, and you make it happen and I’ve always wanted that idea. I’ve never wanted anything because I am a female or a male or I’m a certain color. If you have a hard work ethic, we live in America and you can make anything happen. We have every opportunity to be as successful as we want to be in any realm.”