And they saw in Maple Street a similar environment. Hear his story on this weeks episode. And that was always Sandys posture about it as well. They moved the headquarters last year from co-work space Downtown to Orange Park. Nobodys allowed to stay at level one, which is wait until told. Secondly, theyre paid a percentage of EBIDTA, thats profit every period. I guess I always assumed that would be the way it was. And so we just asked our community to help and they did. I said we talked to multiple entities who would reach out to us individually along the way. And Im like, okay. Got it. The question, how good can we be, I can tell you, we can be a lot better. Today I ordered one of my favorite sandwiches.The Squa Not only was it a personal guarantee on the loan, it was a personal guarantee on So when you first went out, those first sites, landlords dont know who you are. HAVE YOU EVER WANTED TO RUN YOUR OWN RESTAURANT? And they were pretty comfortable with weve been doing it on our own for years. In this industry, people many times live week to week. Then I did a second P&L that said, hey if this thing really took off, would it even be worth it? They already had one of those. eagle lock company trunk value; oak island cancelled brothers receiving backlash Acesse o canal do YouTube. Them looking at potentially acquiring you guys? I knew a gentleman there who was looking for an opportunity. And that whole MBA process prepared me for the time. Id lived there for seven years. We taught her how to run a community store. It was never been my goal as how do we get there. Wife had the Sticky Maple, flaky biscuit, all natural fried chicken breast, pecan wood smoked bacon and the house signature maple syrup. Yeah, the other entities they were talking to was part of the process. creamy wild rice mushroom soup And we needed more depth and breadth. First, he was one of those individuals in my life who could look at me and challenge me, which I wanted. Find out how youre doing on all eight factors acquirers evaluate by getting your value builder score. And again, we went from the eight stores to 25 stores in 18 months, thats a lot of ramping up. What is your background? And he had earned the right, to really make me think about what drives me and what are the qualities that could put me at risk in life? And it just told me the brand was building the same way. So people have had biscuits and fried chicken. And prides one of those. They would have a joint venture with us and we would split the profits, 51% for the company, 49% for them. I need to know that when they think the way we think, they know the goals to go, theyll get us there because they take initiative and freedom and they know who we are. And its romancing the food. We have had 25 plus entities reach out to us over the years, who wanted to invest in Maple Street, buy Maple Street, partner with them. And our analysis after we did it is that we can go serve in a lot more communities but were going to need help to go do this. And were here for a reason and its been a learning. But gracious service is something more. We had a, I guess, a pretty good reputation in this race. Its not my story, its theirs. And we were taking out these assistant community leaders. Its a standalone brand. Now that said, that means my wife was in the boat with me too. And that were doing life together and helping each other along. Its got a little sweet, a little bit of heat and its almost like a sweet and sour chicken biscuit. To ensure the business could succeed without him, Zorgdrager implemented a four-step system to replace himself as the rainmaker of his company. I mean it cant all be rainbows and unicorns. It was at that moment I knew that there was probably something more. And how do you reconcile in your own mind, the trade offs of continuing to run as an entrepreneurial leader in a bigger company. Then on top of the chicken. And if our actions that we show grace to other people, if our actions match up to that, people start to connect those dots. With Crackers Barrels resources, Holler & Dash could have invested more money at the biscuit business, but they realized what Maple Street had created was more than just hawking biscuits and building an equal brand would take longer than if they just bought the company. Because we were only talking about one store at that time. He was actually younger than me but he had great credibility and he had invested in me in a way and hopefully I in him, that he had credibility and authority in my life. Absolutely. The company quickly took off after Crumpton landed a prominent blue-chip client. So we want people to say this, John. A lot of guys that age would be like, Perfect. Grace has its limit. When the acquirer discovered her hands-on management style, they pulled out. So youre going to need a knife and fork to eat it. I would have lost everything. And so when it came time to even name Maple Street as a company, I sent out to all those 40 people a bunch of different names. Andy Cabasso co-founded JurisPage, a marketing agency specializing in helping law firms in 2013. Thats why we keep moving forward. And they do a very detailed, thorough review of who we were, from the brand to the financials, the store economics, the opportunities and we both came to them and said, This is the right partnership.. But you think words are important. And Id say that she trusted me to go get it right. I said, Man, I have to go to some other church. But he had heard that for years, these accolades. Youre having your customers bus their own tables. And we have some promises that we make and one of these is, its a safe place. And so I reached out to a guy who worked with me in the grocery business and said, I need to put this five year plan together. Maple Street Biscuit Co., which opened its first location in Jacksonville in September 2012, has continued to grow since being acquired by Cracker Barrel in 2019 for $36 million. It currently has 28 company-owned and five franchised fast casual locations across seven states. We dont have store directors because what does a director do? Fantastic. The world's third largest burger chain, trumped only by McDonald's and Burger King, Wendy's has been doling out delicious square hamburgers since 1969. That the experiences he had prepared him to go do what they did at Apple. So if somebodys at level one, wait till told, either move up to level two And I tell people, nobodys allowed to be at level three but at least this. And this is whats crazy too. I dont know what theyre doing every day, every week. And our guests were telling us, Cant you open on Sunday? And then I would look at what they ordered and I would calculate based on the menu I had, how much they spent. But some people looked at it and said, Hey, we could go sell a lot of franchises. So thats why some were interested in that idea. Yeah. We were doing the six days a week, it was fine. I didnt know this industry and so, every chance I can get to learn a lot to always getting insight, gaining insight. I remember the range that what we came to the deal with, Cracker Barrel was right in the middle of the dollar amount range. maple street biscuit franchise cost near missouri. But make it easy to do right, hard to do wrong. Cracker Barrel didn't just buy a biscuit company. They liked what we had done. I tell people, if youre going to build a restaurant, John, you would not build it the way we built it. Because initially they were like, You just messed up my life. And I actually bring to the community leaders by level of risk. And we did that strategically, as that there are other people who kind of want to play in this space. Were we just a regional hit? Thats what we do. Thats why you have an open kitchen. And one of the lessons I learned through that growth process, John, was you always have to focus on the business. Tell me about Maple Street. We talked to Piper, Jeffrey and partnered with them to help us to start the conversations. Because being sustainable is from an environment perspective certainly. So when I say that its our mission to go help people, the first store was a gentleman I was going to church with and I was just going to set him up. Those had good economics and so we had a couple of different individuals who did multiple sites like that, through this process. I think she saw how I grew in the role, which was really critical as well. And Im not saying thats bad for people who call their leaders store managers. What Im excited to say is, we only lost one community leader out of that whole change process. And so we executed that plan. Maple Street Biscuit Company was founded by Scott Moore and Gus Evans in Jacksonville, FL in 2012. And it came with when we opened up the first location, they should have failed. So they let you use the resources that they bring to the table. Theyre in there and theyre run by community leader. Well go through this process. Or the second write up I guess because you had the second one there. It was a great Yelp review. Theres challenges, struggles from in their life. About a year ago though, our lead ambassador, chief people officer and I realized we needed a more sustainable leadership model. I went home and I thought about it. Yeah. Did you have to personally guarantee the bank debt? And we are not perfect. How to Sell a Consulting Business for 12 X EBITDA (Without an Earn-Out). Whats on your bookshelf right now? The second store, I put up the dollars for it as well. Went from our eight to our 25 in 18 months. Well, the answer comes down to how well you branded and differentiated your business. So we went to Chattanooga, Tennessee. And as we took a look at that five year plan, we put two models for us to manage our growth and to fund it. So wed walk over, thered be people. And I said, Youre a CFO in another company. And he goes, No, I can go help you. And he had been watching our story all along. Are they looking for other potential suitors as well as Cracker Barrel? And we should be clear, Cracker Barrel, for folks who may be outside the United States. But I dont want to have to worry when they come here. But when I first started out with this, that was my fourth principle because they said this, Sustainable for us means at least this, dont lose money. We had grown really fast, very quickly. And so to get some of those locations required that I had to put my name to the line. 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