Nikonomics - The Economics of Small Business
My mom always told me "There's no such thing as a dumb question... Only dumb people!"
What she meant was that those who DON'T ask questions are the dumb ones! At least, that's what makes me feel better about asking so many questions :)
I've bought, run & sold dozens of companies in the SMB space, with multiple 7-figure exits. Over the past 5 years my companies have generated over $100M of revenue and Millions of dollars of shareholder value.
Now I let my curiosity drive as I interview Entrepreneurs and ask them to walk me through how their businesses work.
Nikonomics is a place for curious Entrepreneurs and Wantraprenuers hungry to learn. So come join our big group of DUMB people, ask some questions and maybe we will learn a thing or two together.
Follow me on Twitter here: https://twitter.com/CoFoundersNik or @CoFoundersNik
Nikonomics - The Economics of Small Business
33 - The Scoop! Growing From 18 to 111 Locations in 5 Years with Cliff Kennedy
In this episode, Cliff Kennedy (https://x.com/CliffKennedy_3) shares his journey of transforming Frios Gourmet Pops into a thriving franchise that delivers happiness through popsicles.
You will learn how he expanded the business from 18 to 111 territories in just five years, highlighting the strategic decisions and community engagement that fueled this growth.
Additionally, Cliff's personal stories, including how he was inspired to buy the business and the impact of bringing joy to his customers, add a heartfelt dimension to the conversation. This episode is packed with practical tips and inspirational anecdotes, making it a must-listen for anyone interested in franchising, business growth, and the power of a simple, joyful product.
Here are some questions this episode answers:
- How can a unique idea and a strong sense of purpose transform a small business into a 111-territory franchise in five years?
- What are the key steps to expanding a small business from 18 to 111 territories in five years?
- How can an unexpected inspiration lead to generating $200k+ in annual revenue from a single franchise territory?
- What are the benefits and challenges of transitioning from 20 brick-and-mortar locations to a mobile, event-based business model with over 70 franchisees?
- How does maintaining a strong company culture contribute to selling 20 new franchises year-to-date?
https://friospops.com/
00:54 Introduction to Nikonomics and Cliff Kennedy
01:39 The Birth and Growth of Frios Gourmet Pops
02:35 The Franchise Model and Business Operations
04:47 Cliff's Personal Journey and Family Business
08:11 The Emotional Impact of Frios Pops
11:55 Franchisee Profiles and Business Potential
19:20 Fixed Royalty Model
19:47 Franchisee Income Insights
20:41 Expanding Franchise Opportunities
21:58 Franchise Ownership and Support
25:19 Customer Acquisition Strategies
26:53 Marketing and Lead Generation
28:38 Shipping Challenges
29:39 Future Growth Plans
30:41 Rapid Fire Questions
36:05 Final Thoughts and Advice
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