That nobody will be cussing at them. So different people were looking at us for different reasons. And its my job to protect the team. About a year ago though, our lead ambassador, chief people officer and I realized we needed a more sustainable leadership model. And ask them if theyd put it in the dirty dishpan. And that means grace has its limits. Absolutely. And so theres at this point, a whole Maple Street dictionary of words that help us communicate what were trying to do. That the experiences he had prepared him to go do what they did at Apple. And how we show grace to our guests. Top three books? what was their reaction when you told them? Please renew to keep using our services. The executive team got part of the transaction. The Hidden Cost of Being a Hands-on Boss With the Founder of Create & Cultivate, Jaclyn Johnson. Cracker Barrel, by the way, is if youve ever gone down the interstate in the United States, youve probably seen those restaurants. So yeah, its been interesting because money is important at the end of the day but these folks get the mission so much, that if I dont start every conversation with these community leaders around our mission, theyre immediately like, Where you going?. Two that had been part of it and I wanted to talk to ahead of time, to get them up to speed. Im worried for you, man. Is that chef Amanda Freitag, whos on Chopped Food Networks show, came into our store and tried it and actually called and they put us on TV about Squawking Goat. You have a Family Support Team that will guide you in the way to do things, but the store is YOUR responsibility. I might would have to go hire a CEO to run my company. Ive got to figure out whats going on. I do it because its always a learning thing. So you get up to that level, you know what your boss wants you to do. 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. There had been no announcements of new stores up. They have to explain to you why were doing it. No. And why not stop there? Ill get the sausage and cheese omelet, like potatoes, cup of coffee and Im good to go. And thats why we use the best quality of pod products. To me, for them its just a transaction, right? No cussing at anybody, that includes me. And I offered, say, Hey, if private equity group comes up and says hey, we like it and its the right offer but they want their own leader, Im willing to step aside. Be a part of the community. Those words mean things. And we have this community question that we ask. 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. I want five years from now, for Cracker Barrel to look back and say, This was the best decision we ever made. And I want that to be earning us the right to go serve in more communities. When the acquirer discovered her hands-on management style, they pulled out. What would have happened if the business had failed? It was never been my goal as how do we get there. Its like three letters for every two syllable word. And level zero is wait until forced. Youre having your customers bus their own tables. You are going to downgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. But we had to answer this question. Restaurant groups, private equity firms, investment banks. 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. But she had grown in her belief that I could go do this. If people are coming to ask you what to do, after theyve been with you a while, they know whats supposed to be done, thats at least passive rebellion. And they thought that we had made a really good deal. Wow. Our SVP of HR had called me in and she had the conversation with me that the role I was doing was going away. Maple Street Biscuit Companywas founded by Scott Mooreand Gus Evansin Jacksonville, FLin 2012. So what was the secret sauce that made you guys so much more profitable? And if I was going to be the CEO, I had to get myself ready. And Id grab Zeke and Id say, Lets go to Paneras. And I just wanted to know if there were people there. Thats the ultimate endorsement. And then we take a goat-. Maple Streets built in an unusual way. Theyll be certain places, cities you go to. We were doing the six days a week, it was fine. And so I sat there in these restaurants and I would count how many people came in every hour. Because being sustainable is from an environment perspective certainly. Were we just a regional hit? Im writing this down on a little piece of paper. And John, I dont remember. Analysis of what other transactions that happened in the last few years in similar spaces we are in. And our guests were telling us, Cant you open on Sunday? With our growth, we really needed I mean we were doubling the size of the company in when 12 months. And it was going to be originally just Gus and I and three people. And so when we talk about gracious service, that includes our team members, our family members, that we treat each other with grace. And then its all on the biscuit. This is where Piper said, You get the best prices when you get a strategic partner. That somebodys not looking to buy you as a risk asset. And we have some promises that we make and one of these is, its a safe place. I read a lot but I read more in the next six months than Id read in a long time. But that was a growing process for her too. Theres two things I talk to the team about all the time is, what can go wrong, how good can we be? 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. Its amazing when you ask that question and then you just get quiet and listen to people, how much theyll tell you. And I report to the CEO, to Sandy. 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. We have not arrived. Were basically open seven in the morning until two in the afternoon. But now were operating as a free business. How This Service Business Sold for Around 4-Times Revenue. They already had one of those. I filter everything through those lessons of initiative and freedom. Every month it changes. If people around there, maybe we can win them over? Its just my experiences again, taught me some things I wanted to do, some things I didnt want to do. 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. And so they understand what the comparables are out there, the strength of the brand, what value net brought to it and the good will. So if not, you move down the scale. And they actually convinced me, the restaurant division, that they got who we were. As it turns out, the gamble paid off when the restaurant chain Cracker Barrel acquired Maple Street in November 2019 for $36 million in an all-cash transaction. Maybe they be interested in divesting those stores? But they always go do them and make them happen. And it just told me the brand was building the same way. Well hold each other to a high standard and accountable. And when we opened the first store, I said the only thing Ive got is Sundays I have to be there. Scott and Tara figured this out a year ago, thats what were going to need to do. Theyre calling out things back to this open kitchen and youre seeing all that happen in the kitchen. And that whole MBA process prepared me for the time. What Do You Need From The Sale Of Your Business? So its not all bad to have somebody who can have a conversation with you which can challenge your thoughts. 10 X Earnings By Future Proofing Your Buyer. When Scott Moores job as a VP at Winn-Dixie was eliminated in 2012, he decided to start a restaurant with his friend Gus Evans in Jacksonville, Florida. It was called Holler and Dash. By 2018, Johnson had grown Create & Cultivate to eight employees when an acquirer offered her a staggering $40 million. Yeah. What is your background? I dont think he had an opinion based on what hed seen in me either way. I did a Zoom video call that was my communication to them. Did it keep me from sleeping at times? And thats kind of what happened. It was in turnaround all the time and we kept bringing in these consultants. I teach a class called Managing Levels of Initial Freedom. We only had two leaders in the store because thats what we could pay for. And thats why Yelp has, every year ranks the top 100 restaurants to eat at in the United States, based on guest reviews. I mean so they did some analysis and gave us a range, it was a pretty big range. And I was in operations and then human resources. They were the ones who were going to make this happen, if it was going to happen. I have a very simple leadership philosophy. To her, a house is a home is a big deal. So I was making sure we stayed the course. The second store, I put up the dollars for it as well. And so because now we went to seven days, that EBIDTA number went up. 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. Hear his story on this weeks episode. And so the Squawking Goat ended up, but it was originally was whats called The Squawk On The Street. And how do you reconcile in your own mind, the trade offs of continuing to run as an entrepreneurial leader in a bigger company. Life can be really tough. I tell people, if youre going to build a restaurant, John, you would not build it the way we built it. And he knew that I am not a perfect person and that I have struggles. If we had to only have one, itd be there. Whats the process look like? Youre investing in that. At that. 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. 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. They manage stuff. For these folks, life can be tough. Even talking to guests about Maple Street. But you got no time and so it was finally around 1:30, you got a little bit of a break. Lebanon, Tennessee-based Cracker Barrel is publicly traded and operates 660 restaurants in 45 states. Looks like your subscription is due. maple street biscuit franchise cost near missouri. Sandy, the CEO, is very committed to the mature brand, not putting their influence and fingerprint on this startup growth story brand. What I had to be clear with them is, this is not telling Scott what you need to go do. Any restaurant will serve you, John. And did you tell her, did you tell your wife the risk that she was signing up for when you went from whatever it was, eight to 25 stores? 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