About this episode
Thinking about becoming a franchise owner? Bill Mathis, chairman of the National Association of Subway Franchisees and multi-unit operator, knows the recipe for success and he’s sharing it on this episode of THRIVE. Learn why interviewing your franchisor is just as important as being interviewed, how to avoid common pitfalls that sink new franchisees, and Bill's proven strategies for hiring and retaining good employees. From real-time AI tracking systems to building the right partnership with your franchisor, discover what it really takes to succeed in the franchise world.
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Topics include:
00:00 – Episode preview and introduction
01:59 – Bill’s franchisee journey
02:58 – Growing revenue through multiple locations
04:18 – Managing multiple franchise locations
05:41 – Engaging employees during visits
06:23 – Mainting operational skills
08:52 – Hiring and retaining high-performing staff
12:33 – Using AI to incentivize employees
14:54 – Becoming an advocate for franchisees
17:05 – Advice for prospective franchisees
19:25 – Understanding and learning from failures in franchising
21:01 – Diversifying with Caribou Coffee
23:11 – The future of franchising and private equity
24:49 – Wrap up and thank you
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
