Andy Wiederhorn made his first restaurant acquisition in 2003 with Fatburger when the brand had only 40 restaurants. Since then, FAT Brands Inc acquired brands you know and love like Johnny Rockets, Fazoli’s, Round Table Pizza and Great American Cookies, and after the largest restaurant acquisition of 2021, they now have 17 brands across 40 countries with 2,300 restaurants.
How could they manage such exponential growth? According to FAT Brands President and CEO, you cannot expect to hit a grand slam without first mastering the basics of getting on base. “My view of being successful is always to try to hit singles and doubles,” explained Andy. “Don’t try to hit home runs. They will come your way when the time is right.”
As a franchisor, Wiederhorn says that he views his customer as the franchisee. “Yes, we want the person eating to have a good time, but I really want to make sure that our franchisee is making money, and to make money they understand how to run their business and we need to coach them properly.”
When you’re taking on customers by the hundreds and their customers by the thousands, you have to develop a way to learn what they need from you quickly and accurately. He has found that the good old-fashioned “suggestion box” works wonders. “But only if you actually follow up on the suggestions he adds.” In the podcast, listeners will learn business lessons pertinent to corporate leaders and franchisors, alike, including:
• 5:30 How to use clear objectives to create a unified brand.
• 10:00 How to recognize your teammates’ accomplishments.
• 12:00 How to make a “suggestion box” work.
• 19:00 How to identify “the right way” to grow.
• 20:00 Why the best deals could be the ones you don’t do.
• 24:30 The importance of feedback.
“A mom and pop business with one or two stores probably doesn’t need the same kinds of services and coaching from you that a business with 50 locations needs,” Wiederhorn pointed out. “My team tries to put ourselves in our franchisee’s shoes to see how we can help their particular organization succeed.”
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.