Running one business is tough. Running several — and keeping them profitable — takes strategy, systems, and discipline.
In this episode of the DB Business Blueprint Podcast, Dearon Bethea, founder of Band of Brothers Investment Group, sits down with his CFO and long-time business partner Julian Simmons to share the financial blueprint behind scaling multiple businesses while maintaining control, compliance, and profitability.
1. From Military Life to Multi-Business Empire
Dearon Bethea built Band of Brothers Investment Group from the ground up — all while serving full-time in the military and raising a family.
Today, he oversees a portfolio worth over $100 million in assets, spanning fitness franchises, vacation rentals, marketing, and multifamily real estate.
Julian Simmons, an Army veteran and West Point graduate, joined as the group’s CFO after realizing his passion wasn’t just serving in the military — but building wealth and helping others do the same.
“I studied economics, and I learned early that there are three ways to build wealth:
Be born into it, own real estate, or own a business. I couldn’t change the first one, but I could control the last two.”
2. Building a Team That Wins
Before scaling to multiple locations and industries, Dearon and Julian both wore every hat — from operations and payroll to marketing and customer service. But as the company grew, they discovered the secret to scaling wasn’t doing more — it was delegating smarter.
“You can go fast alone,” Julian says, “but you go further with a team.”
Their team today is built on trust, clear roles, and systems:
- Jerome runs operations
- Brad leads marketing
- Julian manages finance and compliance
- And Dearon oversees overall vision and growth
This structure allows each branch of their empire to run efficiently — even across multiple states and industries.
3. The CFO’s Role: Money Is the Lifeblood
Dearon calls money “the blood of the business” — it keeps everything alive.
Julian’s financial strategy focuses on one principle: clarity through data.
Every month, he and Dearon meet to review:
- Profit & Loss statements (P&L)
- Cash flow trends
- Expense performance
- Projections vs. actual performance
“Data doesn’t lie,” Julian emphasizes. “If a $500 bill suddenly jumps to $2,000, something’s off. You need to know why — and fix it before it snowballs.”
Their rule? Always go back to the pro forma — the original performance projections.
Many new entrepreneurs use a pro forma just to get a loan, then forget about it once operations start. But Julian stresses it’s a living guide that should be reviewed and updated monthly.
4. Smart Outsourcing: Focus on Strategy, Not Spreadsheets
While Julian oversees high-level financial strategy, the Band of Brothers team outsources bookkeeping to a specialized firm called Ceris, which focuses on franchise accounting.
“No one will ever care about your company like you do,” Dearon says. “Outsource, but verify. Always stay on top of your books.”
Outsourcing bookkeeping gives their team more time to focus on:
- Strategic planning
- Financial forecasting
- Investment analysis
- Growth decisions
But it only works if you stay actively involved — reviewing reports, asking questions, and ensuring all transactions are coded correctly.
5. Compliance: Stay Ahead, Stay Legal
With businesses in Delaware, North Carolina, Texas, Hawaii, and Wyoming, compliance is no small task. Each state has unique filing requirements, taxes, and workforce regulations.
Julian manages this through a master compliance tracker that covers:
- State and federal tax filings
- Sales, use, and franchise taxes
- Unemployment and workforce reporting
- The new BOI (Beneficial Ownership Information) registration required by the U.S. Treasury
“You can’t wait for the IRS or the state to remind you,” Julian warns.
“Be proactive. Anticipate and stay compliant — or you’ll pay for it later.”
6. Tax Strategy: Grow, Scale, and Save
One of the biggest lessons Dearon shares is understanding how to use taxes as a growth tool.
“As you scale, your profits rise — and so do your taxes. The key is to buy more businesses, because every acquisition brings new depreciation and tax advantages.”
Their philosophy:
- Pay what you owe — not a penny more
- Reinvest profits into new businesses
- Use depreciation and deductions to legally reduce taxable income
This strategy keeps their money working inside the ecosystem, fueling continuous expansion.
7. Financial Planning: Protecting and Multiplying Wealth
Beyond day-to-day management, Julian also works as a Wealth and Financial Consultant at WestPac Wealth Partners. There, he helps entrepreneurs:
- Build financial structures around their businesses
- Implement tax-efficient investing
- Develop estate and succession plans
- Protect assets with insurance and key-person policies
“Making money is one thing,” he says. “Keeping it is another. You need structure — attorneys, CPAs, and advisors all aligned under one strategy.”
Their approach ensures that as the Band of Brothers empire grows, so does its longevity and protection — for the owners, employees, and families behind it.
8. The Entrepreneur’s Mindset: Scale with Purpose
Dearon closes with this truth:
“True entrepreneurs are forced to open more businesses. Growth creates opportunities — and responsibilities.”
From franchising to real estate to marketing, every new venture they launch is part of a strategic ecosystem designed to support the others.
Their next big step? Launching their own franchise brand out of North Dallas — built entirely from the systems and lessons shared in the DB Business Blueprint.
