franchise

also referred to as: franchises

6 statements across 2 episodes · 0 bullish · 3 bearish · 2 people on the record · first statement Apr 10, 2024 by Tom Rutledge · across every show →

Everything said about franchise, oldest first

Apr 10, 2024 negative
Insight
Rutledge: High California labor costs break fixed pricing models of national franchises
“In California, that same exact model that that franchise built, you need six people to do this volume in this place would lose money due to our cost of labor. So I'd have to figure out the franchise or model, but with maybe four people where they say I need si…”
Tom Rutledge Apr 10, 2024 ▶ 23:12 Accounting Is Not a Numbers Game - Tom Rutledge on Why
Apr 10, 2024 negative
Insight
Rutledge: Franchisor fees often slash expected 30% bottom-line margins down to 10%
“Your bottom line isn't nearly what you thought it would be. You were expecting 30% and it's 10, for example, because of all the various ways you have to pay the franchisor.”
Tom Rutledge Apr 10, 2024 ▶ 17:19 Accounting Is Not a Numbers Game - Tom Rutledge on Why
Apr 10, 2024 negative
Insight
Rutledge: Franchises are best owned by lawyers because they are purely contracts
“Franchises are best owned by lawyers because it's all contract.”
Tom Rutledge Apr 10, 2024 ▶ 15:08 Accounting Is Not a Numbers Game - Tom Rutledge on Why
Apr 10, 2024
Insight
Rutledge: Passive franchise ownership by hiring a manager is a total myth
“The reality of a franchise that I think is a massive misconception is that it's so well put together that you just buy it and place it someplace and hire a manager and walk away. That's never the reality of these things.”
Tom Rutledge Apr 10, 2024 ▶ 21:24 Accounting Is Not a Numbers Game - Tom Rutledge on Why
Jun 25, 2024
Insight
Myers: Franchisees Must Imitate the System Before Innovating
“We have a phrase in, in the companies that I've been in part of is that we need you to imitate before you innovate. And all that means is, is follow the system. Work that system and then innovate and say, Hey, we tried this at our store.”
Lyle Myers Jun 25, 2024 ▶ 5:30 Imitate Before You Innovate: The Phrase Behind a 950-Store Empire
Jun 25, 2024
Insight
Myers: Select Franchises Based on Experienced Leadership Over Product Preference
“When you're looking for a franchise, you're not necessarily working just for a product that you like, but you're kind of looking at the people that are behind the brand. And so you have to find that group of people that's done that before.”
Lyle Myers Jun 25, 2024 ▶ 6:19 Imitate Before You Innovate: The Phrase Behind a 950-Store Empire
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