"I want to be the BEST in the World” Greg Flynn, Founder & CEO of the Biggest Franchisee in the World

From Doubt to Drive – Entrepreneurs Only

Today’s episode features an exciting conversation with Greg Flynn, the Founder, Chairman, and CEO of the Flynn Group, the world’s largest franchisee. With over 2.900 restaurants across three countries — the USA, Australia, and New Zealand — Greg operates well-known brands such as Applebee’s, Panera Bread, Taco Bell, Arby’s, Wendy’s, and Pizza Hut, in addition to 40 fitness clubs and 120 hotels. Since its founding in 1999, the Flynn Group has maintained an impressive 30% annual growth rate, generating $5 billion in sales, $450 million in profits, and employing over 75,000 people.

In this episode, Greg shares insights into what it takes to manage such a complex organization. He discusses how focusing on running restaurants well and having a solid structure to manage thousands of locations are key to his success as a franchisee. Greg also touches on how he’s created wealth for his employees, with more than 100 of them becoming millionaires through their work with the Flynn Group.

Greg also reflects on the challenges of financing a startup. He recounts how, at the beginning of his career, he struggled to secure funding and how franchising of bigger, more known brands helped him bridge that gap by lowering the financial risks. He’s become a strong advocate for franchising, explaining why he chose not to start his own brand but instead focused on acquiring and operating well-established brands as a franchisee.

The conversation then moves to the impact of COVID-19 on the Flynn Group. Greg shares how the pandemic affected his group of mostly full-service restaurants and how key decisions — like whether to close restaurants or keep them open, and whether to lay off staff or retain them — were critical to the company’s ability to recover faster than its competitors.

Looking ahead, Greg discusses the future of casual dining. He mentions the importance of staying relevant with comfort food and human interaction, noting that 2021 was the best year in the casual dining segment for his business. He also discusses his preference for acquisitions over building new restaurants from the ground up, with his largest acquisition in 2021, when he successfully integrated over 1,000 restaurants at once.

We also explore Greg’s international expansion strategy and when we might see the Flynn Group enter Europe.

This episode is full of valuable insights for anyone interested in the franchise industry, entrepreneurship, and the future of dining. Greg’s story is one of perseverance, smart decision-making, and visionary leadership, and he offers practical lessons on how to grow and sustain a successful business over time.

Our Key Takeaways from Our Interview

1. The most important success factor is running restaurants well.
2. You can be decentralized and disciplined at the same time.
3. The restaurant industry is highly cash-flow dependent.
4. If you manage well, every crisis is an opportunity.
5. Always be open to change and opportunities you don’t expect.
6. Be nimble and agile, adapting to ever-changing circumstances.
7. You can make money in a shrinking segment.
8. Make educated bets and isolate the risk involved. Don’t bet the farm.
9. If you are good at something, don’t believe you are good at everything.
10. You are in business for yourself, but not in business by yourself.
11. Local operators know better how to run a restaurant, which is why you need to push authority there.
12. Do it better and at a lower cost.
13. Human relationships in big structures are crucial.
14. Culture is built on empowerment, trust, and a drive to win.
15. Build a business you are proud of.
16. Be mindful about the risk adjustment for opportunities.

Here more Information about Flynn Group: https://flynn.com/ Here you can find the White Paper we reference throughout the recording: https://docsend.com/view/k39mnmkghc9irid4+

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Recorded on 27th September 2024 via Zoom in San Francisco, US (Greg Flynn) – Sri Lanka (Mario C. Bauer) – Hamburg, Germany (Florian Schneider).