CATEGORIES: Business, Franchising
CATEGORIES: Business, Franchising
What do Burger King, KFC, and Jimmy John’s have in common? These brands are known for their tasty meals and quick service. They are quick service restaurants (QSR), commonly known as fast food restaurants. The QSR setup has also become the most popular choice of food business among restaurateurs and franchise owners.
Why would you want to invest in a QSR? How do you choose which brand to franchise? Where do you get the funds to start? What skills do you need? How do you choose your business partners? These are some of the questions Erik and Wyatt Batchelor will answer in today's episode.
Wyatt has a B.S. in Economics from West Point and an MBA from Columbia Business School. He began his career in the military as an officer in the US Army Special Operations Ranger Regiment. Following three combat deployments to Afghanistan, he worked as a financial analyst at Goldman Sachs before beginning a career with Restaurant Brands International (RBI).
At RBI, Wyatt worked in several roles, culminating in running a division for the company. Capitalizing on his experience, he later co-founded MBN Brands and began acquiring various QSR concepts nationwide. He currently owns over 150 fast food restaurants between Burger King, KFC, and Jimmy John’s.
“At the end of the day, the successful people, in my mind, are the ones that can take a problem, create a solution, and then go to the next thing.” - Wyatt Batchelor
In This Episode:
- Who is Wyatt Batchelor, and how did he get involved in the fast food business?
- What is the purpose of a Ranger? Wyatt talks about military life and leadership
- Wyatt shares his experience working for Goldman Sachs after his stint in the military
- Why veterans are good business partners
- Wyatt talks about his partners, how they came together, why they work well together, and the speed, size, and scale of their operations
- What are the similarities and differences between the QSR brands, and how do you choose which brand to franchise?
- How to start, grow, and scale a QSR business
- Lessons learned from structuring a business partnership and managing cash flow
- What's interesting about the food industry, and how do you find success in the industry?
- Learn more about Erik’s franchisee mastermind here - www.franchisetribe.com
- Learn more about Erik’s franchisor mastermind here - www.franchisortribe.com
- Learn more about Erik’s passive investing mastermind here - www.tribeofinvestors.com
- Want to buy a franchise? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617
- Want to franchise your business? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617
- DoD SkillBridge Program - https://www.doi.gov/veterans/skillbridge
Connect with Wyatt Batchelor:
- Website - https://www.mbnbrands.com/
- LinkedIn - https://www.linkedin.com/in/wyattbatchelor/
Connect with Erik Van Horn:
Erik Van Horn is a franchising specialist, and expert in multi-unit, semi-absentee franchise business ownership. From entrepreneur to regional developer, and investor to consultant, Erik has worn many hats over the last two decades, which has provided him unique insight into complex aspects of the industry. If you're a franchisee, a franchisor, or one aspiring to be, subscribe to the Franchise Secrets channel and visit www.FranchiseSecrets.com for even more tactical and practical tools to help you buy, grow, and sell franchises like an expert.