Built a Franchise Business Straight Out of College - With Mitchell Nolan

Описание: DESCRIPTION:
Mitchell Nolan, a graduate of Palm Beach Atlantic University with an MBA and a focus on franchising, is the founder of consulting firm DJM Nolan and co-founder of Vetted, a company he established with Steve Lieber. Vetted's mission is to assess both franchisors and franchisees using five key principles derived from Junior Bridgeman. These principles include exceptional food and guest experience, simplicity of systems, robust labor and inventory control, outstanding marketing and operational systems, and positive unit economics. Nolan recounts the process of responding to a 60-page restaurant Request for Proposal (RFP) for NEXCOM Navy-base with a detailed 200-300 page document. After submitting the proposal in May, they won the contract in October and subsequently formed a partnership to operate on military installations. The first Mediterranean concept restaurant under this partnership opened in Coronado in August. Nolan attributes his success to the coursework, directed studies, the advisory network of the Titus Center, and the franchising community at PBA. He also emphasizes the importance of assessing the value of royalties through franchisee validation. Besides his professional achievements, Nolan volunteers as an assistant coach for PBA golf and has established the Birdie Fund scholarship.

With Mitchell Nolan

TIMESTAMPS:

01:55 The five pillars Junior Bridgeman taught him about franchising.
04:25 How a 300-page government contract won on a Navy base.
09:00 The golf coach who accidentally launched a franchise career.
14:40 Why competing franchise brands actually help each other.
17:30 How Titus Center advisors invested in his business.
19:55 The five pillars every franchisee should use to evaluate a brand.
24:00 Why paying 8% royalties is worth it if you get 20% value.
26:40 Simplicity of systems means anyone can run it with a playbook.
29:55 Giving back to golf while building a franchise empire.






LINKS:

WEBSITE: http://franchisehotseats.com/
LinkedIn:   / drjohnhayes  
Twitter:   / drjohnhayes  
YouTube:    / howtobuyafranchise  
Instagram:   / hayesjph  
TikTok:   / johnphayesfranchise  
Pinterest:   / drjohnhayes  
Facebook:   / franchisehotseatpodcast