The community came around in such a way we didnt need to. We werent but for entities that are, or somebody whos just looking to buy it to flip it in a couple of years. But I want to have the right partner as well. You earn a percentage of the profits for doing this well. And we have some maple syrup in our biscuits and so some of the names had maple in there. And theyre not near as interested in signing the lease. I never look at it, I dont review it. And so I ended getting responsibilities for operations with HR. But then I had the Zoom video call where we could see everybody, make sure everybody was there. 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. Now that said, that means my wife was in the boat with me too. If I can trust you and youre teachable, we can do a lot of things. Then on top of the chicken. So did you actually receive letters of intent from some of the other buyers, the restaurant groups and so forth? What made you guys so much more profitable than a typical restaurant? Level negative one is wait until separated. 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. MAPLE STREET BISCUIT COMPANY - 68 Photos & 38 Reviews - 2061 Huguenot Rd, Richmond, VA - Yelp Restaurants Auto Services Maple Street Biscuit Company 38 reviews Claimed Breakfast & Brunch Edit Open 7:00 AM - 2:00 PM Hours updated 1 month ago See hours See all 68 photos Write a review Add photo Menu Popular dishes Sticky Maple 2 Photos 2 Reviews Here to tell you, Scott Moores story is Scott himself. Why would Cracker Barrel this NASDAQ traded hundreds and hundreds of stores be interested in little Maple Street? I would have lost everything. I might would have to go hire a CEO to run my company. So anything that I had was mine. Even talking to guests about Maple Street. But when I go to peoples houses and I have dinner, I pick up my plates and I take them to the kitchen. Yeah, internally we actually call it family members. We didnt do any press releases. And here's what's even more telling about the offer. Because at the end of the day, the acquirers going to make a very simple calculation. And so I would walk across around the block theres a Panera that was a block away. So we dont have cashiers. What I can say now is, like Steve Jobs said in his very last public speech, it was college commencement before he passed away. They want to be able to be across thousands of units that you go in and you get what you said but its not a bad experience. Its Im living out a mission. HAVE YOU EVER WANTED TO RUN YOUR OWN RESTAURANT? Cracker Barrel didnt just buy a biscuit company. scotland pa musical bootleg most accurate deep ball qb 2021 rebisco company mission and vision. And he asked me that because Maple Street had done so well. We call that having Monopoly Control, and it is one the things acquirers look for in a company to buy. In 2006 Kelby Zorgdrager started DevelopIntelligence, an outsourced training provider that helps programmers develop new skills and adapt to ever-changing technologies. Its got a little sweet, a little bit of heat and its almost like a sweet and sour chicken biscuit. Well the executive team had been working out for 10 months, so they all knew it and they all participated in there. So for me it was, Id like the last half of my life to have more impact than the first half. To fund the growth, he put his house up as collateral on a bank loan and personally signed a guarantee that, had Moore failed, would have left him penniless. It also plans to fold its 3-year-old Holler & Dash brand into the newly acquired fast-casual chain. This is what gets to, Hey I came to you before, I told you you cant wait until told, you at least come ask me what to do. Thats so important. We dont have store directors because what does a director do? Those words mean things. And so for where I live theres lots of different diners you can go to and I go to those. The company was too dependent on him. It currently has 28 company-owned and five franchised fast casual locations across seven states. They didnt know everything that I knew about, if were going to serve more communities, what that would look like. And I will say this, that the one thing I dont know is how to stop. So what was the secret sauce that made you guys so much more profitable? We only had two leaders in the store because thats what we could pay for. Yeah. And they said no, theyre not interested in divesting themselves. You are going to downgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. And now with our communities Ive had this conversation. So for me, our number one filter is trust. Were at 30 community stores at the time. Its a standalone brand. Or have you built such differentiated value propositions, such a well-branded company that competing with you would take longer or cost more money than simply buying you? 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. When we designed this, we wanted to have a concept that was a destination, not just an option. They have to explain to you why were doing it. And it came with when we opened up the first location, they should have failed. The Lebanon, Tenn.-based company on Friday said it has acquired 33-unit Maple Street Biscuit Co. for $36 million in an all-cash deal, its second major investment in a growth chain in just a few months. And the next one is, wait until separated. 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. The business snowballed as Zorgdrager onboarded most Fortune 500 giants in his space. The goal is how can we go change peoples lives. I said I wanted the last half of my like to have more impact. Maple Street Biscuit Company was launched in November of 2012 with a mission of helping people, serving others and being a part of the community. 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.. Or the second write up I guess because you had the second one there. And then it has a community leader still have half the day left to go enjoy the day. And then we take a goat-. They like what weve done. I mean it cant all be rainbows and unicorns. 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. When you come into a Maple Street, now it is an unusual way. So you get up to that level, you know what your boss wants you to do. She has her daughter living with her. Serve others. We use a winter wheat artisan flour. So its not all bad to have somebody who can have a conversation with you which can challenge your thoughts. Cracker Barrel, by the way, is if youve ever gone down the interstate in the United States, youve probably seen those restaurants. That was a critical piece. I can tell you, the way I did my analysis on how we could make this work was, I have spent months going to restaurants who are open the same hours we are. Youve been flirting with one another back and forth a little bit. Nobody else on the team, shareholders, executives, had ever signed for anything ever. Scott and Tara figured this out a year ago, thats what were going to need to do. In that process, we did a lot of things right, we did a lot of things wrong. And then, as were going to market, Hypers trying to help us figure that out. The Hidden Cost of Being a Hands-on Boss With the Founder of Create & Cultivate, Jaclyn Johnson. Its like three letters for every two syllable word. In 2012, Jaclyn Johnson founded Create & Cultivate, a media company that educates and inspires women to succeed in business. I guess what Im getting at is, is it a multiple of EBIDTA or a multiple of sales? So it was Jack Speak in St. Augustine and then downtown Greenville. And level zero is wait until forced. The stores report targeted average-unit volumes of $1 million and store . I sent it out to them and said, Hey, if were going to name the company, which of these resonates? Overwhelmingly, Maple Street Biscuit Company came back as the name for the company. And that was a crazy thing. Now I had talked to a few people ahead of time. 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. Maybe Im ready for a little golf. But youre betting the house. How do you come up with names for your dishes? Be A Part of the Community. Maple Street Biscuit Company is one of the fastest-growing breakfast concepts in the country. And I tell people this, If I can trust you but youre not very teachable, we can do a few things. Because to me, theres thousands of counselors out there waiting to give you counsel and theyre in books. A lot of franchise's don't deliver, but this newly opened restaurant definitely does. madden 23 franchise deep dive; Sign Up. It currently has 28 company-owned and five franchised fast casual locations across seven states. And in that, they are the purveyors of theater and romance. And so wed own those units together. I want to get into the lexicon a little bit because I know branding and the words that you use, like community leader, as opposed to store manager, was a big part of your business. We need to consider others, well come back and talk about that. So for those it was a had to take them through my change curve. And that whole MBA process prepared me for the time. And since it was a second gen site, it was a former Moes restaurant, and they had just left everything that was in there. 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. What I know is, as much as the dollars are important, they were not the all important choice for us. Because your people are not just driven by monetary benefits because you look at those change process, if you dont keep that mission core of who you are, its going to devalue the brand. I did have to personally guarantee it. And if our missions that important. And were going to open it and youll never know it was a Moes. The team now says that was my first of many unreasonable goals that Ive set for them. I dont need to know that. But now were operating as a free business. 30-year career in the grocery business. Are we committed to it? I was very cautious of going with an investment bank, a big investment bank like that. And so for the first time, we went to a bank and worked through our plan and that really funded the rapid growth for us, at that point. Toread a transcript of this episode,click here. And so theres really just four different stages. 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