What You Can Learn From Subway and Other Fallen Titans - 040

Bedros Keuilian Podcast Show

Bedros Keuilian

Self-improvement, Education

5 • 2.2K Ratings

🗓️ 29 March 2018

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Once the most popular, innovative, and profitable sandwich franchise in the world, Subway is now rapidly shrinking. In this episode, Bedros Keuilian and Craig Ballantyne dig deep into Subway and other crumbling business empires to tease out the warnings and lessons that you need to keep your empire prosperous for the long haul.

“We evolve or perish.” - Bedros Keuilian

Here’s what you’ll discover:

1:55 - Why Subway has lost over 900 stores in the last 12 months—the largest loss in company history!
3:19 - Why you should pay attention to your local Taco Bell and McDonald’s.
5:30 - Why a public scandal won’t destroy your business, but poor leadership will.
8:33 - How American Airlines is “screwing over” their best customers by removing a single olive from each on-flight salad.
16:12 - How to rapidly scale without creating infighting between your many locations.

“Good can go to great, and great can go to very bad when you don’t continue with the right decisions.” - Craig Ballantyne

Transcript

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0:00.0	We evolve or perish.
0:01.8	All businesses must evolve with the times,
0:03.9	with the technology.
0:05.0	But at the end of the day, you can only hang your hat
0:06.6	on the $5 foot-long sub for so long. So, Now imagine that you built a massive successful business and then all of a sudden
0:30.8	it starts to implode and crumble upon itself.
0:33.4	Well, on this episode of the Empire Podcast show, we're going to talk about Subway franchises,
0:39.2	the sandwich franchises and how they have lost over 900 stores in the last 12 months.
0:46.0	I'm Beidros Kooyan and this is Craig Ballantine.
0:48.0	Welcome to the Empire Podcast.
0:50.0	So Craig, Boy, Subway has over 23,000 stores just in the United States and in the last 12
0:56.3	months they've experienced the most loss in stores ever, in over 900 stores.
1:01.2	And let's deconstruct why this happened so that anyone building an
1:04.5	empire or running an empire will make sure never to experience this.
1:08.3	Yeah you know I don't really feel that bad because I would hate going into subway and you'd walk out and you'd smell like that bread for like nine days in a row even though it was totally worth it for the meatball sub that I used to live on back in my 20s
1:21.2	but they have had problems because they are not keeping up.
1:25.8	And that's one of the main reasons.
1:28.0	They have store traffic is down 25%.
1:31.4	A third of the stores are unprofitable and I actually have a friend from high school who owns two subways and I mean
1:37.6	He was telling me how much he was making per month even when it was successful and it wasn't that much money. So I read an article recently, talked about five big mistakes that they were making and
1:47.9	what I want to do is ask you your opinion on because you have built a massively successful
1:52.2	franchise and it's continuing to grow and keep up.
	...

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