Welcome to the latest episode of Empire Builders! Today, Tommy Yionoulis is excited to welcome Marc Millet, the owner of Millet Desserts Inc., a Baskin Robbins franchisee. Marc shares insights from his journey in the dessert franchise industry, from joining the family business to expanding to multiple locations.

Key Points Discussed:

Introduction to Marc Millet:

• Owner of Millet Desserts Inc.., a Baskin Robbins franchisee
• Transitioned from a decade in law enforcement to entrepreneurship.
• Grew the business from one location to nine as of last month.

Challenges and Strategies in Franchise Operations:

• Discusses the financial and personal adjustments required to succeed.
• Highlights the grind of working long hours and gradual financial improvement.
• Emphasizes the independence and growth opportunities franchising offers.

Managing Multiple Locations:

• Importance of delegation and efficient solutions like smart safes for cash management.
• Benefits of franchising, particularly the simplicity of managing Baskin Robbins.
• Critical inflection points in business growth and establishment of efficient systems.

Acquisition Strategy:

• Focus on purchasing existing stores rather than building new ones.
• Evaluating store value and negotiating with owners, often utilizing owner-carry loans.
• Balancing acquisitions with occasional new builds to diversify and grow the portfolio.

Future Plans:

• Potential expansion into other brands within the Inspire Brands portfolio.
• Ambition to grow the Baskin-Robbins network and explore opportunities in other franchises like Jimmy John's and Buffalo Wild Wings.
• Insights on strategic growth, efficient management, and the entrepreneurial mindset needed to scale successfully.

Marc also discusses current business challenges and solutions:

• Financing: Difficulty in obtaining loans due to banks not understanding franchising.
• Hiring: The need for digital solutions for the current generation of applicants.
• Inflation: Significant cost increases post-COVID and the struggle to balance menu prices.

Local Store Marketing:

• Despite the digital age, traditional methods like coupon packs still yield good returns.
• Effectiveness of "buy one, get one" offers.

Story Time:

• A difficult winter faced with severe financial challenges due to inflation and bad weather.
• High-interest loans and tough decisions were made to recover.
• Emphasizes the importance of dedication and treating the business like a child.

Conclusion:

Tommy and Marc wrap up the discussion with reflections on the franchise industry, the importance of strategic investments, and the continuous need for operational excellence. Whether you’re an entrepreneur, a franchisee, or simply interested in the dynamics of the franchise business, this episode offers valuable insights into running successful multi-unit operations.

Tune in to this episode for an in-depth conversation on scaling success, operational strategies, and navigating challenges in the franchise industry with Marc Millet.

Links And Resources:

• Millet Desserts Inc.
• Marc Millet on LinkedIn

• Tommy Yionoulis on Linkedin