How to Become a Successful Franchise Owner: Subway Franchisee Chairman Bill Mathis

Thinking about becoming a franchise owner? Bill Mathis, chairman of the National Association of Subway Franchisees and multi-unit operator, knows the recipe for success and he’s sharing it on this episode of THRIVE. Learn why interviewing your franchisor is just as important as being interviewed, how to avoid common pitfalls that sink new franchisees, and Bill's proven strategies for hiring and retaining good employees. From real-time AI tracking systems to building the right partnership with your franchisor, discover what it really takes to succeed in the franchise world.

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Topics include: 00:00 – Episode preview and introduction 01:59 – Bill’s franchisee journey 02:58 – Growing revenue through multiple locations 04:18 – Managing multiple franchise locations 05:41 – Engaging employees during visits 06:23 – Mainting operational skills 08:52 – Hiring and retaining high-performing staff 12:33 – Using AI to incentivize employees 14:54 – Becoming an advocate for franchisees 17:05 – Advice for prospective franchisees 19:25 – Understanding and learning from failures in franchising 21:01 – Diversifying with Caribou Coffee 23:11 – The future of franchising and private equity 24:49 – Wrap up and thank you

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.