The casual leader announced Friday it's agreed to acquire 33-unit Maple Street Biscuit Company in an all-cash transaction for $36 million. And so I read the stories of people who had been there and theyd done it and the experiences they went through and the things that they got wrong. She was living out of her car and she has a screenshot of her checking account where she had four dollars and fifty three cents to her name. And ask them if theyd put it in the dirty dishpan. Level two is ask what to do. It also plans to fold its 3-year-old Holler & Dash brand into the newly acquired fast-casual chain. They type that up and they can put it online. Yeah, we were open a few days and I realized we need a whole lot more. I said, Ill work with you for six months. Or were they kind of locked into the Cracker Barrel conversation? I just, I wasnt ready to coast into glory. And we have this community question that we ask. They like what weve done. So anything that I had was mine. And so there was this modern twist that would make us a destination. The goal is how can we go change peoples lives. Okay, so they saw in you, theyd seen the biscuit business and they saw what you were doing and thought well wow, you guys are doing something pretty unique. And it just told me the brand was building the same way. Scott started the Maple Street Biscuit Company and sold it to Cracker Barrel for a cool $36 million. But she was able to, with her belief that I wouldnt quit until we get it right, allow me to go sign up and do this and take that step. You are going to downgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. The restaurant is hosting a grand opening celebration from 7. I didnt have restaurant background but experiences that God took me through for those 30 years in the grocery business prepared me for the day when I had to go do something on my own. creamy wild rice mushroom soup In this episode, Stephan Spencer details three strategies he pursued to withdraw from his businesss day-to-day operations. They got their MBAs and so I got to work with all kinds of those in this turnaround process. To her, a house is a home is a big deal. There had been no announcements of new stores up. And as I built that model I said, Thats the P&L were going to go manage ourself against. If were going to build a model that if we only do half of what we think well do, we still at least wont lose money. And so the ambassadors are supposed to explain to you, you come in and you hear the word Squawking Goat, or Five and Dime, Hashbrown Cake, our three layer cake and what do those mean? But its our fresh made biscuit. I found we had to start communicating immediately, much more often and trying to get more detail. One way to build the value of your brand and your business is to own the vocabulary used to describe it: Maple Street had an entire dictionary of words they used, which collectively rolled up into a brand and ultimately a culture which is what Cracker Barrel found hard to compete against. And this is whats crazy too. And I understand what those looked like. They were in turnaround situations and struggling. It was a great Yelp review. 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. In this industry, people many times live week to week. And that we had the potential to really be that growth story for them. Maple Streets built in an unusual way. And so when we talk about gracious service, that includes our team members, our family members, that we treat each other with grace. Its Im living out a mission. And a good go to market strategy I told Piper would be, Hey, if we have the chance to acquire those units and could convert those, we can increase the size of the company by 25%. And so we just asked our community to help and they did. But the journey hasn't been as simple as the. It started with one pizzeria still located in Whitehall, Ohio and has expanded to 14 stores located in. Maple Street Biscuit Company is one of the fastest-growing breakfast concepts in the country. He was working at the Volkswagen plant and didnt have restaurant experience but our model is designed that we go teach them. How did you finance the growth? No, thats where people misunderstand grace sometimes, John. This mission and its principles are the key to the brand's success. Yeah, yeah, yeah. We had a significant change that happened afterwards. And he hears that all the time. So youre into this conversation. I dont know that. They were the ones who were going to make this happen, if it was going to happen. A lot of franchise's don't deliver, but this newly opened restaurant definitely does. Maple Street Biscuits was founded in 2012 by Scott Moore and Gus Evans. And so we tried it, put it together, it was like perfect. I filter everything through those lessons of initiative and freedom. But then I did a third P&L which was half of what the average was. One of those principles, comfort food with a modern twist, weve had made consistently. Inside Uptimes 7-Figure Acquisition of JurisPage. We have not arrived. And I think if supported by your actions, they have impact in peoples lives. You had this entrepreneurial experience. I never look at it, I dont review it. Its been, in Atlanta, Georgia, its The Varsity. I am not perfect. And they brought in their own executive team, which they should do. That nobody will be cussing at them. We brought her on. And level zero is wait until forced. Scott, I am so grateful for you doing this. Theyll be certain places, cities you go to. Cracker Barrel, by the way, is if youve ever gone down the interstate in the United States, youve probably seen those restaurants. Every year its been a different community store with a different community leader. Thats why we have ambassadors and not cashiers. In 2006 Kelby Zorgdrager started DevelopIntelligence, an outsourced training provider that helps programmers develop new skills and adapt to ever-changing technologies. Words mean something. And what they came back with was amazing how everybody understood who Maple Street was. I teach a class called Managing Levels of Initial Freedom. Thats all we were going to hire was three people. And I had a restaurateur come into our store and say, You know you cant do that. He said, If you did paper and plastic, yes you could do that. And theyre not near as interested in signing the lease. Every month it changes. We had grown really fast, very quickly. If you want to see the stories of people who are part of Maple Street and what theyre doing, go to the website and youll hear where theyve told their stories. At the same time, you have to pay for it. And added the sales in City Center, Chattanooga, for the first 100 days theyd been open. The Squawking Goat Maple Tap Coffee Fried Green Tomatoes The Farmer 5 And Dime Bam YoYo! 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. So its not all bad to have somebody who can have a conversation with you which can challenge your thoughts. In 2002 Chuck Crumpton started Medpoint to help businesses bring medical devices and pharmaceuticals to market. Then on the third store, I took an investor in with us, which funded stores three and four and five, to get us there. And I confuse people with that sometimes, John. And it was going to be originally just Gus and I and three people. I want to get-, Community stores. 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. Myself, bringing in an individual investor, doing the joint venture partnerships, then we proved the concept and the model to the point where we had credibility, we could go to the bank and then fund our growth until of course, we were acquired by Cracker Barrel. Theres challenges, struggles from in their life. Scott Moore, welcome to Built To Sell Radio. And I did offer, when the team and I said were going to go do this and the way we did it, everybody got to participate in some way. Maple Street Biscuit Company was founded by Scott Moore and Gus Evans in Jacksonville, FL in 2012. And that is part of the risk that comes in being an entrepreneur and growing your business. So we think it was at community stores that were making food for our friends and our neighbors. And so theres at this point, a whole Maple Street dictionary of words that help us communicate what were trying to do. I always worked for these companies who were not the market leaders. Adam Glickman started hawking Jumbo Brand Condoms from his dorm room in 1989 under the moniker a safe jumbo is a happy jumbo. His brand grew and upon graduation, hestarted Americas first retail condom shop in New York City. And so we had made that decision but we didnt move on it because that takes significant resources, to hire, train and implement those leaders. We use a winter wheat artisan flour. Then on top of the chicken. Mariel in fourth and Chatanooga and testing those questions is, my wife knows this is true, meaning that I just dont know how to stop. Who would we might lose in this change process? I was very cautious of going with an investment bank, a big investment bank like that. They provide Comfort Food with a Modern Twist, and Gracious Service through Immaculately Clean Stores. And its good to have accountability. I think weve earned the right to think in an expansive way. I said, Do you know anybody that can help me with it? And he said, Yeah, me.. Welcome our guest into your community store, romance our food, help new guests through the Maple Street experience, and take guest orders. If you came to my house youd be seeing it made. I mean again, forgive me for saying this but Ill say it. And maybe we can use the diligence which weve done in going through this process. But we never got to that point. And its romancing the food. So we had at Maple Street, Ill call it family support team, its our corporate headquarters. But they said, hey I explained to them we were going to market and what our strategy was and they said, Hey, but wed like to talk to you. And we spent 10 months really getting to know each other. But gracious service is something more. What Do You Need From The Sale Of Your Business? Yeah, what impact has that had, or did that have on your decision making to sell? Its got a little sweet, a little bit of heat and its almost like a sweet and sour chicken biscuit. Well go through this process. Are we committed to it? I might would have to go hire a CEO to run my company. And pride is something I think a lot of people struggle with. Whats on your bookshelf right now? The executive team got part of the transaction. Not only that, my names no longer on the piece of paper and so is no longer at risk. And Im going to make you give me an answer. Be quick and accurate plating our comfort food with a modern twist that guests will be sure to Instagram! what was their reaction when you told them? I think she saw how I grew in the role, which was really critical as well. The Hidden Cost of Being a Hands-on Boss With the Founder of Create & Cultivate, Jaclyn Johnson. And they were pretty comfortable with weve been doing it on our own for years. Now that said, that means my wife was in the boat with me too. But make it easy to do right, hard to do wrong. Ive got time, Ill go figure it out. And it was just going to be helping somebody in their life. And so we interviewed several. They moved the headquarters last year from co-work space Downtown to Orange Park. So yeah, we dont have store managers. Well hold each other to a high standard and accountable. It sounds amazing but the skeptic in me is also saying, But what happens when you have an employee who drops the ball, whatever? 15/12/2022 . Yeah, internally we actually call it family members. And Scott, give me a sense of whats going on for you personally at the time. This is not about Scott. Thats not what I wanted to do. You get to your outside voice to call out the answers to our monthly question to let guests know that their food is ready. The community leader and assistant community leader. It was about a year ago. So youre going to need a knife and fork to eat it. I was an elder in the church. And we were taking out these assistant community leaders. Maple Street grew to 28 stores and five franchises. Maple Street, youre a company to communicate with. So the community has helped us name the company and even helped us name the food as we went along. Those things cant go away. And he talks about how you go from being the manager to managing managers and what that looks like. Now, why would Cracker Barrel want to buy the Maple Street Biscuit Company? Somebody was going to own the brand identity and the first to get to critical mass of course, is typically the one that does. We talk about gracious eyes. And that whole MBA process prepared me for the time. Well, they realized that what Maple Street had done was built a culture and a brand defined by a vocabulary that they used internally and externally that would be so hard to compete with that it made it worth it to them to acquire Maple Street rather than simply compete with them. And I came back and told her, Thank you but I want the last half of my life to have more impact than the first half. I didnt even know what that meant at the time, John. When bonuses go up, its like okay, now I get it. I mean some of the slowest pace weve ever had. You have to have a focus on running the business day to day. Its not all bad. And I tell people this, If I can trust you but youre not very teachable, we can do a few things. You take out the loan when you building it out and you start paying right away, while that stores ramping up and starting to earn, cash flow positive. What I can say now is, like Steve Jobs said in his very last public speech, it was college commencement before he passed away. And if our actions that we show grace to other people, if our actions match up to that, people start to connect those dots. Cracker Barrel didnt just buy a biscuit company. Masseys Pizza, Columbus' oldest pizzeria has been making the perfect pizza taste since 1949. In fact, after the transactions done, [inaudible 01:09:57] had the market research team go across on multiple markets we were in and talk about the top district stakeholders, internally and externally. And then came the Squawking Goat. And we wanted to do it. How big a financial impact would that have been for you personally? Them looking at potentially acquiring you guys? We dont have managers, we have community leaders. Theyre going to ask themselves, is it easier and cheaper for us to simply compete with your business? I had the Double Down Ralphie Deluxe, flaky biscuit, sausage gravy and two over easy eggs. This is drinking out of a fire hose. Because being sustainable is from an environment perspective certainly. Which was a biscuit with that fried chicken and the pepper jelly on it. But it just never came up. Love it. And I currently had had 175 people on my team throughout the distributed organization. And so, yeah, is it perfect every time, all the time? We make that as a very attractive schedule for somebody in this industry. And our guests were telling us, Cant you open on Sunday? And I think rightfully so, in challenging me is, people keep telling you really good things about yourself, sometimes you start to believe them. And so we built the kitchen as a flex for the very first one, we built is so if the sales were so low, we could only have one person would do the whole thing. Yeah, the other entities they were talking to was part of the process. Ive gone back and Im in a big company again. And so many accolades came out there at ten. And that has become one of our best performing stores now. And even if were half of average, at least not lose money. And then I had individual calls with every single community leader, after the Zoom video call. For these folks, life can be tough. And so you come to there, its approachable. Sure. something else. The business snowballed as Zorgdrager onboarded most Fortune 500 giants in his space. So I had built it on, then we went through the proof of concept as well, those first two stores. We taught her how to run a community store. I mean if we get out 90 minutes after we close, so at 3:30, theyre going home. Join the Team - Maple Street Biscuit Company Pave Your Path With Maple Street Check Out Our Unique Positions Below Welcome our guest into your community store, romance our food, help new guests through the Maple Street experience, and take guest orders. How do you come up with names for your dishes? 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