S1 E1: Why Catering is Your Next, Best Franchise with Nick Panos, Mellow Mushroom

It’s easier to sell 100 slices of pizza to one customer than one slice to 100 customers. This valuable lesson is just one element of Nick Panos’ highly successful franchise playbook. As Vice-President of Panos Restaurant Group, one of the company’s main focus points is operating its highly successful Mellow Mushroom restaurant chain. And if there’s one valuable lesson Nick is keen to share, it’s that catering is a game changer. It provides your business with a b2b revenue stream that, crucially, doesn’t cut into your peak operating hours but utilizes unused capacity. Nick joins The Wolf talking about pseudo recurring revenue streams you can effectively build into your restaurant business. He also shares how positioning your business as the restaurant of choice for annual conferences should be at the top of your to-do list. You’ll learn why playing long term games with long term people is the key to recurring revenue. And hear how to pick a franchise brand with longevity, plus why your long term success depends on you choosing great employees and taking care of them. Monetizing franchises is a passion Nick shares with our sponsor FranShares, who are making it easier to build, manage and grow your franchise empire from as little as $500. Find out more at: franshares.com Follow Nick on LinkedIn: linkedin.com/in/nicolaospanos Check out The Wolf’s newsletter: https://workweek.com/brand/the-wolf-of-franchises/ Stay up-to-date on all things Franchise Empires by following The Wolf on Twitter: https://twitter.com/franchisewolf

Om Podcasten

Most startups are doomed to fail. But there’s an alternative route to financial freedom for hungry entrepreneurs. One that involves far less risk, far more work-life balance, and just as much profit. Franchises. Franchise Empires gives aspiring franchise owners the playbook to build a multi-unit franchise empire of their own. Every episode we hear from guests who are building their franchise empire: Franchisees who started with one unit and aren’t stopping until they get to dozens, hundreds, or even thousands more locations. Hosted by The Wolf, you’ll hear exactly how to turn your ambition into tangible actions and take your first steps up the franchise ladder. We’ll break down the steps you need to take open your first franchise, your second location and beyond, along with the many pitfalls to avoid. Wolf answers all your questions about owning and running your franchise, and interviews guests with first hand experience like Greg Flynn, the multi-billion dollar restaurant franchisee, Jamie Weeks, the largest OrangeTheory franchisee in the world who’s launching his own fitness franchise SweatHouz, and Jason McGowan, Co-founder and CEO of Crumbl cookies. Want to get started on your franchise owning journey? Tune in every Tuesday for a new episode. Make sure to subscribe wherever you get your podcasts. Interested in participating as a guest at Franchise Empires? Submit your request here!