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Kathy Terry

Co-Founder of P. Terry's Operating, LLC

Sep 24, 2026

4:25
What were your thoughts? Did you believe
4:28
him or were you like, ah, he's just talking? That's such a great question.
4:33
When we were dating, he would talk about opening this, you know, fast food burger stand.
4:38
And he, you know, he was a serial entrepreneur when we were dating.
4:41
And so he always had business ideas.
4:45
And I thought, oh, that's just another cute little idea.
4:48
But he would never do it, right? Like who's going to open up a burger stand? So I just kind of like was really flippant about it.
5:59
Why is that important to you? And have y'all ever
2:58
Kathy, could you kind of walk me through what it was like growing up in your household and what money was like, but also the entrepreneurial spirit, kind of what prompted you to want to be an entrepreneur with Patrick later in life?
3:12
Oh, gosh.
3:12
Okay.
3:13
I hope I can condense this down.
3:15
So I grew up in West Texas in a small town, Midland.
3:18
Both my parents, I guess what you would call entrepreneurs, but I didn't even know what that word was back then.
3:23
But working class, my dad started industrial laundry on his own when I was around seven.

41 MINS LATER

44:27
This is much different than ESOP, and I'm curious why this instead of an ESOP.
49:39
But n- now that we understand what ESOP is and like what partnerships could look like, why is a employee stock, sorry, an employee ownership trust the way you went? How is that different?
49:52
Yes.
49:53
So the employee ownership trust is the only tool I've been able to find that will protect the culture of our business for perpetuity.
50:01
So long after Patrick and I are gone, the whole purpose of the trust is to maintain the culture.
50:09
And, um, and so it's a tool that started in the UK.
50:13
It's been a tool that they've used for a really long time, and I was introduced to it from a friend who kind of knew I was looking at different options.
50:21
She actually ended up being our consultant.

36 MINS LATER

86:12
No.

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