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Last time in part 1 of “If We Had To Do It All Over Again”, it was a jam-packed episode. We focused on just one area that if we had to do it over again what we would've looked at, which was looking at the franchisor’s strengths and weaknesses. And we laid out a framework of some particular questions we would've asked. More things around product, competition, support and marketing. Now, if you missed that jam-packed episode, there is a link below where you can go back and listen.
We would highly encourage you to do so. Today we’re playing armchair quarterback and kind of looking back and asking the question, if we had to do it over again, would we? And what areas might we go a little bit deeper? At the end we will answer that question.
First, we're going to be looking at the leadership team. Dave, give me your insight on this because in our franchise, when we were looking at this subject, what was your initial impression of the leadership team?
So my opinion of the leadership team was that I didn't really have anything bad to say about the leadership team of the franchise that we purchased. On the other hand, that was probably more out of being naive than it was out of reality. What we found over time was that the leadership team, not that they were really a bad leadership team, but very unfocused. I believe that would be the word for it. And really trying to do too many things and not really doing any particular one of them extremely well.
I agree with you because at the time we were in what was considered a hot franchise, it was an emerging brand, and therefore the leadership team was growing and they had a lot of great people focused on marketing and things like that, but maybe not necessarily so much on support. At the time, like Dave said, we were a little naive. We didn't necessarily know what questions to ask. So we are going to give you those questions today. When you're looking at the leadership team is there high turnover? Are people coming and going? Because in our franchise, we learned very quickly that people were leaving or they were bringing in new people so quickly that they didn't really understand the brand well enough to even support us.
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