Liautaud Claims IRS Audits Began After Supporting Mitt Romney in 2012
Jimmy John Liautaud · Turning $25K Into $3 Billion: The Hard Truths Of Jimmy John's Success · Joe Lonsdale · Oct 3, 2024 · at 10:56
Jimmy John Liautaud, founder of Jimmy John's, discusses facing IRS scrutiny after getting involved in politics and supporting Mitt Romney's presidential campaign.
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“The IRS audit started to happen at that time.”
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More from Jimmy John Liautaud
Liautaud: 100% of Political Attacks Originated From Democratic-Aligned Groups
“I learned that every attack and every, every single one came from democratic supported parties, different, different, different, different groups. But it was a hundred percent. Liberal and Democrat people, Soros type stuff.”
Liautaud: Chick-fil-A managers make upwards of $500,000 per year
“Chick-fil-A managers make upwards of 500,000 dollars a year.”
Liautaud: Sandwiches cost four or five dollars, not twelve
“And I mean, sandwiches don't cost 12 dollars. I mean, sandwiches are four or five bucks. They're not 12 bucks. And eggs don't cost eight bucks. I mean, they just don't cost that much.”
Liautaud Used a Written Test to Screen Applicants for Stealing
“I had a written test. That would, that was a that you would fill out, and I would grade the test, and if they scored a certain way, it said the chances of this person stealing from you know, is pretty good or not, and it was like a Myers-Briggs, but it was for…”
Liautaud: Jimmy John's stores cost $350K to open, averaged $200K profit
“It was 350,000 open a store. The stores did about 900,000 in sales and the average store made about 200,000 dollars of profit.”
Liautaud: Jimmy John's managers made $80K-$120K with 25% profit share
“We paid the managers a base pay of like, 36 to 42 grand base pay salary, depending on where they were, and we gave them 25% of the profit of the store, so the managers made a lot of money, and they made 80 to 120,000 bucks a year”