The Economics of Everyday Things

Bob Mellano, the VP of wholesale operations at Mellano & Company, shares insights from his family's multi-generational flower business. Jasmine Gomez-Gonzalez, COO of OC Wholesale Flowers, reveals the logistics behind sourcing imported blooms. They dive into the complexities of the global flower trade, examining labor issues and Rainforest Alliance certification. The duo also discusses how the cold chain preserves flowers during transit and the pricing challenges around peak holidays, like Valentine's Day.

Jim McFarland, a fourth-generation cobbler and owner of McFarland's Shoe Repair, shares his journey in the declining world of shoe repair. He highlights the surprising increase in demand for cobblers, despite the industry's challenges with fast fashion. McFarland discusses the intricate process of recrafting shoes and the appeal of high-end footwear. He also dives into his growing mail-in business and use of social media to teach the craft, aiming to inspire the next generation of cobblers.

Ed Currie, founder of PuckerButt Pepper Company, shares his spicy journey from battling addiction to breeding record-setting superhot peppers like the Carolina Reaper and Pepper X. He delves into the science behind capsaicin and why people chase extreme heat for the endorphin rush. Currie also discusses the competitive market for hot peppers, the challenges of commercializing his products, and the vibrant chili-head community. He reflects on the risks associated with superhot peppers, including safety controversies from viral challenges.

Guests Mike Mattsinger, owner of Surf's Up Mini Golf, and the Conaboy siblings, Sal and Katie, from Harris Miniature Golf, share their passion for the miniature golf industry. They delve into the intricacies of designing courses, discussing historical evolution and modern trends. Mike reveals the surprising costs of building a mini-golf course, while Sal and Katie explain the art of creating memorable holes. With a surge in demand post-COVID, they highlight how running these venues combines entrepreneurship with fun, making mini-golf an appealing investment.

Terry Miesle, a master flavorist at Sensient, shares his expertise on capturing the essence of flavors in food and beverages. He discusses the science behind distinguishing natural from artificial flavors and their practical benefits. Terry reveals how flavorists analyze aromas using gas chromatography to create complex flavor formulas. The conversation also touches on why many product flavors can seem similar and why candy flavors often differ from real fruits. Miesle debunks myths around food chemistry, emphasizing the shared molecular nature of both natural and synthetic flavors.

Jordan Berry, a savvy laundromat owner and founder of Laundromat Resource, shares his journey from career crossroads to laundromat expert. He discusses how the industry evolved from ancient methods to today's coin-operated setups. Discover how tech, apps, and delivery services are reshaping the market. Jordan also dives into what fuels predictable revenue, touching on demographics and commercial clients. Plus, hear wild stories about lost items, common machine mishaps, and the surprisingly strong community ties formed in laundromats.

Mark Lemoine, owner of Coloma/St. Joseph KOA Holiday and senior VP at Kampgrounds of America, shares insights on campground ownership. He reflects on his career shift from politics to managing a campground, highlighting the unique challenges of private ownership amid fragmented industry dynamics. Mark discusses the economic impact of campgrounds, the importance of general stores, and seasonal staffing. He also covers strategies for pricing, revenue generation, and the cathartic experience of building a community through camping.

J.P. Seti, a seasoned gas station owner, shares his journey from immigrant to entrepreneur in the convenience retail space. He and Garrett Golding from the Federal Reserve dissect the complexities of the gas supply chain and analyze how slim profit margins truly are for station owners. They discuss the competitive landscape at the pumps, the impact of electric vehicles, and how convenience store sales drive more revenue than fuel. Insights about rising gas prices and their effects on consumer behavior make for a compelling conversation.

Chris Harvey, Senior Vice President at Sedgwick, brings two decades of product recall expertise to the discussion. He reveals how recalls, ranging from food to automobiles, are driven by globalization and mass production. Listeners learn about the intricate logistics, from detecting problems to notifying consumers through various channels. Chris emphasizes the importance of swift action for safety and brand loyalty, and shares the hefty costs associated with recalls, often reaching tens of millions. Delve into how effective management can build trust while poor handling can lead to litigation.

In this discussion, Steve Cripps, Chief Financial Officer at Williams Racing, shares his 16 years of experience in Formula One. He dives into how teams like Williams navigate the $3.5 billion ecosystem of the sport. Topics include the intricate cost structures of F1 cars, the impact of the cost cap, and the intense physical demands on drivers. Steve explains the importance of sponsorship revenue and how small performance tweaks can dramatically influence outcomes. He also reveals the challenges of logistics and the upcoming 2026 regulation changes.