How I Built This with Guy Raz Advice Line with Pete Maldonado of Chomps (April 2024)
Jul 18, 2024
Pete Maldonado, co-founder of Chomps, shares invaluable insights on scaling businesses with early-stage entrepreneurs. Jennifer Ballin seeks advice on expanding her sourdough bagel business while considering franchising. Brandi Shelton discusses entering big-box retail without losing her brand's essence. The conversation highlights partnership strategies, the intricacies of retail pricing, and the importance of storytelling for brand growth. It's a treasure trove of practical tips for aspiring food entrepreneurs on navigating the competitive landscape.
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Post-Retail Challenges
- Getting your product on shelves is just the beginning.
- Prepare for increased work, including quality control, trade spend management, and chargebacks.
Franchisee Selection
- Choose franchisees who will fully dedicate themselves to your brand.
- Ensure your special sauce is teachable and replicable without your direct oversight.
Partner Due Diligence
- Research and interview potential partners thoroughly.
- Understand their experience and dedication to ensure a successful collaboration.