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Corner Bakery Café CEO Mike Hislop explains how he separates his brand from all the others.
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Problems.
What started as a small bakery in downtown Chicago has grown to over a 130 locations across the country now the company is looking to double its size over the next three years -- me now for this week's.
Small business ideas.
Plot is CEO.
Corner bakery.
Cafe and you brought a lot of great -- -- -- -- wonderful but you've got a real competitive space you're going after the narrower measure going after Dunkin' Donuts.
You make the brand.
Different competitive that's a great question and has been asked the number of times I think we're very unique I think we have the right brand.
Today with the right -- -- -- model in the right segment the way we're really differentiate ourselves from those competitors.
Is that we big.
We drilled and we -- today.
All day long you're going in the morning you see a fire -- in -- -- something different than the other.
Cafes on the scrambles to being made at night we're -- -- We also do 20% of our business is catering very different than the other.
Cafes that are out -- you can see somewhat baskets here today but that really helps our overall economic model with a four day parts and we have a corner bakery.
We're capital has bought you and they found some of the other bigger change -- an Arby's for instance right in -- and no.
How to do the franchise business maybe get the name into the mall space right this pattern we're going here -- I know you wanna expand into -- well.
Rourke is there's been in franchising for fifteen years we've been in it for the last five years we've signed up seventeen franchisees.
-- it.
Gonna be building 250 locations.
We have a lot of space throughout the country the eastern seaboard the midwest the West Coast a lot of room for growth.
They absolutely will help us what they within the knowledge that they have in the franchise space.
-- -- that's already with -- and franchise financing have been able bring us a couple lenders to really help our franchisees grow specially coming out of the recession so that's and really welcome when it comes to purchasing.
The synergies with.
You know eight build an eight billion in holdings that they have -- really been able help us.
You know franchising is a fastening business -- because unemployment so high right now we have a lot of Americans that are interest in an opening up.
A franchise opportunity of a name why -- they open up a franchise.
There's a lot of metal -- there's a lot of people interest and we're in that perfect space right now we're in the sweet spot.
Bakery cafe is the fastest growing segment in the restaurant industry when they look at corner bakery you can come -- we're with a neighborhood cafe you can command.
In the morning and lunch we have the best he.
You've ever had a you can command is -- -- like ensure they aren't look at Ellis -- eight -- and I don't I was pretty good but.
But they love -- they love that economic model we average about 2.2 million cost a million to build that's about a two to one investment ratio which works for.
Anybody looking to get into the same thing they're definitely that in the name overall whether its -- -- was going to be hiring how many people do you think you're gonna hire and that's great question.
We we are going to open up.
In one -- -- franchisees love is we are gonna open up eight to ten cafes ourselves.
Fifteen to twenty the franchisees and that'll open up so we have skin.
In the game today they love -- -- where they're not out there alone.
Like I said we will be double in the size in the next three to four years half -- bar locations will be franchised -- Sandwiches salads this is a crown yes and chronic and what's -- and then of course bakery items you -- that is -- -- up.
Well it's a fastening opportunity good luck on -- and Richard thank you very much I can Bobby -- the CEO of the corner bakery -- and.
