Growth Club
1851 Growth Club
FranX | Winning doesn’t have to be 1,000 units
We are taught, from a very young age, that if you aren’t growing, then you’re dying – and, the great Ricky Bobby said, “If you ain’t first, you’re last”. But is that true?
News You Can (Actually) Use
Franchisees Kicking Ass: The Franchisee is King
Kazakhstan Immigrant Opens New 360 Painting Franchise in the US
In post-Soviet Kazakhstan, where Andrey Shelokovskiy grew up, it’s not easy to become a successful entrepreneur. That is why Shelokovskiy decided to move his family to Dallas and begin a new chapter by opening a franchise with 360° Painting*, the 120-plus-unit backed by multi-brand home-services franchisor Premium Service Brands.
We spoke to Shelokovskiy to learn more about his journey to franchising and his experience with 360° Painting. Watch the full interview above or on YouTube.
Yo Broker, Sell My Franchise
Why Now is the Time to Invest in a Famous Toastery Franchise
The better breakfast, brunch and lunch concept offers franchisees the opportunity to leverage a fan-favorite brand, winning service model, and scratch-kitchen menu to establish a beloved neighborhood restaurant in their community.
Famous Toastery, the 25-plus-unit, North Carolina-based franchise, has made a name for itself by offering the freshest breakfast, brunch and lunch offerings in its segment. This year, the Famous Toastery franchise is well on its way to reaching its goal of 50 units by 2024. The brand’s CEO and Founder Robert Maynard says the brand is on track to close eight to 10 new franchise deals in 2022. Now, community-driven entrepreneurs have a prime opportunity to leverage a pandemic-resistant business model and open a beloved neighborhood establishment in their local market.
How Famous Toastery Stands Out as a Franchise Opportunity
Since starting the brand in 2005, Maynard says the company has been a labor of love with a focus on amazing customer service and made-to-order food. “We've stayed true to our mission, guaranteeing that our food is fresh and made in-house every single day,” he said. “We don't just use the word ‘fresh’ and have frozen tomato soup come in, or have nitrate-filled turkey come in. We roast our own turkey. We make our own soup. We make our own salad dressings. We make every omelet in a pan. We get top-of-the-line items. We don't cut corners on food. That's the big differentiator between us and our competitors.”
But that focus on quality doesn’t just apply to the food. “When we use the word ‘quality,’ we are really talking about a premier product,” said Famous Toastery President Michael Mabry. “That can mean having quality franchisees and operations. In order for us to live up to our brand promise, which is to ‘Be Famous,’ we have to be able to put our quality first, which translates throughout the entire brand.”
The brand’s franchisees, who have grown throughout North Carolina since opening in 2005 and franchising is 2013, have become locally famous as pillars in their communities, providing not only uncompromisingly fresh and decadent meals, but a hub for friends, families and neighbors to get together. With this approach in place, the Famous Toastery team is looking to further emphasize a business model and support infrastructure that encourages franchisees to “Be Famous.”
“There is an exciting opportunity to become a part of a premier breakfast and lunch brand, and who doesn’t want to be famous? The franchisees are the ones who put famous in Famous Toastery,” said Mabry. “They offer an amazing service and friendly atmosphere, which translates to a famous brand name with our guests.”
The Bottom Thoughts
What is winning?
It is such an important question that is often quite difficult to answer. Is it selling one more franchise? It is selling 1,000? Is it hitting a sales volume, as a franchisee? Is it scaling your business?
We are taught, from a very young age, that if you aren’t growing, then you’re dying – and, the great Ricky Bobby said, “If you ain’t first, you’re last”. But is that true?
Sometimes, it’s difficult to take a step back and find the pinch me moments – the little wins. Sometimes it’s difficult to look at the bigger picture. Sometimes it’s hard to look at deal value, and enterprise values, and long-term investment that equals greater return.
This is life.
Many franchisors think winning is immediate sales. It’s not. It’s sustainability – meaning, wouldn’t you rather have a franchisee who is capable of operating 10 units than 10 franchisees who can’t scale and only own one? As a franchisee, aren’t you taking this giant risk for the opportunity to build more wealth (over time not tomorrow) for your family?
We have talked about thinking about the exit, and working backwards. There may be value in backcasting and forward casting as we turn past a third of the year.
