Episode 578: Building a Franchise Empire: Premium Loaves' Marc Largent and Jerome Hranka Aim for 300 Jimmy John's Locations by 2030

Summary

In this episode of the Restaurant Owners Uncorked podcast, Wil interviews Jerome and Marc, the owners of Premium Loavess, the second largest Jimmy John's franchisee. They discuss their early experiences in hospitality, the unique culture of Jimmy John's, the challenges of scaling a business while maintaining that culture, and their journey to ownership. The conversation also covers acquisition strategies, financing transactions, and the importance of training and execution in the restaurant industry. In this conversation, the speakers discuss their ambitious growth plans for their franchise business, aiming for 300 locations by 2030. They emphasize the importance of aligning new brand opportunities with their core values and the challenges of maintaining work-life balance while managing rapid growth. The discussion also touches on the need for strategic planning, learning from past experiences, and adapting to changing consumer habits, particularly with the introduction of new menu items like toasted sandwiches.

Takeaways

• Mark started working at Jimmy John's at 16 years old.
• Jerome's first job was as a dishwasher in a local restaurant.
• The culture at Jimmy John's emphasizes fun and customer service.
• Maintaining company culture is challenging during growth.
• Marc became an operating partner at 22 years old.
• The group has grown from 20 to 89 locations in three years.
• They focus on acquiring stores from retiring franchisees.
• Financing includes bank loans and seller notes.
• Training is a key focus for their business success.
• The restaurant industry is evolving and requires adaptability. Setting clear, ambitious goals is crucial for growth.
• Aligning new brands with core values is essential.
• Learning from past experiences helps in future planning.
• Work-life balance is challenging in fast-paced environments.
• Adapting to consumer trends is vital for success.
• Strategic expansion requires careful market analysis.
• Maintaining a startup culture can motivate teams.
• Innovations in the menu can attract new customers.
• Leadership involves navigating chaos effectively.
• Building a strong team is key to sustainable growth.