Tony Lamb, founder of Kona Ice, discusses the rapid franchise expansion of his spinoff mobile coffee brand, Traveling Tom's Coffee.
Insight
Tony Lamb: Kona Ice franchisees reach a sweet spot with just a few units
“There is a sweet spot In Kona ice with a couple franchises and maybe an ancillary or two, and you can make plenty of money. You can really have a great life, but everyone kind of gets into this and they're like, Hey, how do I conquer the world?”
Insight
Lamb: Most People Make Great Small Business Owners Rather Than Entrepreneurs
“Not everybody's an entrepreneur and, but there's a lot of people that can be good small business owners, and that's what we try to curate, is, is follow the recipe, be a good small business owner, make a great living, enjoy your life.”
Insight
Lamb: A sales prospect's refusal changes only with new information, not pressure
“The answer is no based on the information that I have right now. So the no is not going to change by you pressuring me. The no only changes if you give me more information.”
What-if
Lamb: Traditional block ice shavers would have killed Kona Ice's scalability
“If I would have had to rely on, I think it's a swan that, that does the big block of vice that, like you're saying, a vice that forces it into an open razor blade that spins on an axis and shaves it off. It produces a very fluffy product. I don't think I would…”
Insight
Lamb: Flat franchise economics prevent top franchisees from controlling the company
“I was talking to an executive at a big franchise system, and you know, they've got probably 20 franchisees that pretty much run the company. You know, whatever those people say goes, because they're the ones generating a lion's share of the profits for the com…”
Opinion
Lamb: Traveling Tom's Coffee unit economics could soon surpass Kona Ice
“I don't think I would have said that a year ago, maybe not even six months ago, but some of the results that our coffee people are having are pretty spectacular.”