Orfalea: Local store equity motivates operators better than minimum-wage employee pay
Paul Orfalea · Kinko’s: Paul Orfalea · Aug 21, 2023 · at 24:46
Paul Orfalea, founder of Kinko's, explains why he chose an equity partnership model over traditional employee management when expanding store locations.
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“You can't rely on minimum wage people to have motivation, and so I always figured if I take in a partner, the fact that they have equity in that individual location would make a big difference in the outcome, which is true.”
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“If you go 24 hours a day, your daytime business doubles, which is absolutely correct.”
Orfalea: Franchisors and franchisees are just people flipping each other off
“Franchisees and franchisors are two people flipping each other off all the time. In other words, if I told the franchisee to do something, they would say, well, he's not, his motivation isn't cure. He just wants more six percent from the top.”
Orfalea: True hard work is late-night worrying, not long hours
“Most people will brag about how hard they work, this, that, and the other. What I think hard work is what keeps you up all night long when you're worrying. That's hard work.”