It was called Holler & Dash but when executives at Cracker Barrel saw the Strength of the Maple Street brand, they knew they could be better together. Or the second write up I guess because you had the second one there. Maybe Im ready for a little golf. But youre betting the house. Im just in awe and so grateful for you doing this. Is going to execute our model. The average price of all items on the menu is currently $6.68. And I was in operations and then human resources. The question, how good can we be, I can tell you, we can be a lot better. But she was able to, with her belief that I wouldnt quit until we get it right, allow me to go sign up and do this and take that step. Love it. It currently has 28 company-owned and five franchised fast casual locations across seven states. And he hears that all the time. But then I had the Zoom video call where we could see everybody, make sure everybody was there. So we fold that in, into layers. And pride is something I think a lot of people struggle with. Now I had talked to a few people ahead of time. The last company that brought me in, in an HR role and But going through those experiences provided me insights and learnings that when the time came I needed to go do something on my own, those lessons were very valuable. Well hold each other to a high standard and accountable. And so I ended getting responsibilities for operations with HR. And I said, Youre a CFO in another company. And he goes, No, I can go help you. And he had been watching our story all along. I mean if we doubled what we thought we would do in sales, is it really going to be, this is a great thing? And the reason that was, when we first started out, that church or that pastor I said challenged me didnt have a lead teaching pastor. So we talk about grace and how we show grace to each other as team members. I have a video that every new team member watches, where I make a promise that this will be a safe place. That kind of melts the goat cheese but then also gets some crisp on that breading that we put on top of it. Even talking to guests about Maple Street. Do you ever feel that way? What is your background? And I think if supported by your actions, they have impact in peoples lives. keyboard_arrow_leftPrevious. Andy Cabasso co-founded JurisPage, a marketing agency specializing in helping law firms in 2013. But they always go do them and make them happen. We had a significant change that happened afterwards. We did it because there are people who part Maple Street, community leaders, who had the potential to bring in more capital and wanted to do a chance to get more return. So yeah, its been interesting because money is important at the end of the day but these folks get the mission so much, that if I dont start every conversation with these community leaders around our mission, theyre immediately like, Where you going?. On the personal? Thats what we wanted to do. One way to build the value of your brand and your business is to own the vocabulary used to describe it: Maple Street had an entire dictionary of words they used, which collectively rolled up into a brand and ultimately a culture which is what Cracker Barrel found hard to compete against. And they thought that we had made a really good deal. In this industry, people many times live week to week. And then there was the Loaded Goat, which had the biscuit with the fried chicken and the goat cheese. Ive got to ask. By 2010, he was able to take a six-month sabbatical which ultimately lead to a salein 2010 with onlya six-month earnout. And whats interesting is Cracker Barrel owned a biscuit company that sold for intents and purposes, a similar product. I always worked for these companies who were not the market leaders. I think we still can do that better and were trying to find more and more vehicles which communicate to people and keep them connected. I talked to all of them and weve had them come to the office and spend time and tour our stores. And they have a little spreadsheet where they would rate and rank the food. You get to make our house-made biscuits just like grandma did, but better! And so wed own those units together. Youve worked in a big company for 30 years. Some of them certainly saw us as a growth story and a growth opportunity. The restaurant is hosting a grand opening celebration from 7. something else. It was 2012? Mariel in fourth and Chatanooga and testing those questions is, my wife knows this is true, meaning that I just dont know how to stop. And Im going to make you give me an answer. Nashville, TN 37204 (615) 678-8359 But they hadnt really moved on them in the last year. And that was always Sandys posture about it as well. Now, why would Cracker Barrel want to buy the Maple Street Biscuit Company? In 2012, Jaclyn Johnson founded Create & Cultivate, a media company that educates and inspires women to succeed in business. A lot of franchise's don't deliver, but this newly opened restaurant definitely does. So they let you use the resources that they bring to the table. When you come into a Maple Street, now it is an unusual way. Find the right partner to help us fund it. How many people did you have when Cracker Barrel bought the business? I mean some of the slowest pace weve ever had. So their ambassadors, their job is to introduce the Maple Street way to the world, this weird way we do community. It was about a year ago. Yum! I said, Ill work with you for six months. So we have ambassadors that talk about Because we cant have a real wow experience but its going to be an uncomfortable experience if we dont explain it to you. Maple Street grew to 28 stores and five franchises. Maple Street Biscuit Company was founded by Scott Moore and Gus Evans in Jacksonville, FL in 2012. Any restaurant will take your order. Im the one person that can. So the Squawking Goat is one of our favorite ones that people ask-, Then this will be a favorite. Because being sustainable is from an environment perspective certainly. Now that said, that means my wife was in the boat with me too. And so, he rightfully asked the questions to challenge me. And prides one of those. And so theres really just four different stages. What was the way you kind of funded the business? We have our own breading which has a good crunch and a little bit of spice to it. But you think words are important. So its interesting, my pastor had asked me a few years ago, do you struggle with pride? And Id say that she trusted me to go get it right. The Squawking Goat Maple Tap Coffee Fried Green Tomatoes The Farmer 5 And Dime Bam YoYo! What makes them unique and what drives us from people, from community leaders down to our elite team members, to even guests, all understood all that. What he had was, a responsibility to challenge me. And how do you kind of reconcile that in your mind? Just because I was in human resources, I ended up working with the operations team and the marketing team and the real estate team. We have some frozen butter that we shred and drop in there. And what they came back with was amazing how everybody understood who Maple Street was. Thats awesome. As it turns out, the gamble paid off when the restaurant chain Cracker Barrel acquired Maple Street in November 2019 for $36 million in an all-cash transaction. Are they looking for other potential suitors as well as Cracker Barrel? And then we started looking ourself, whats the best plan to move forward? This is drinking out of a fire hose. And the conversations turns to them looking at potentially acquiring you. But we ended up really being that wow P&L and earning the right to go do more. One, they have more leaders they can depend on in their store. In that process, we did a lot of things right, we did a lot of things wrong. Level three is recommend and take resulting action. I am not perfect. locations alabama florida georgia kentucky north carolina south carolina tennessee texas virginia new community stores 2022 bee cave bee cave, tx officially open to the community bulverde san antonio, tx officially open to the community Here to tell you, Scott Moores story is Scott himself. And every one of these stories with a community store has been about how do we get to be a part of somebodys lives in serving those communities? So the reason that my grocery career ended is they got bought out by a private equity group. Any retail shop you go to will serve you. Because businesses that lose money dont hang around very long. Because initially they were like, You just messed up my life. And I actually bring to the community leaders by level of risk. And on there, so I said that were a part of peoples lives. Maple Street Biscuit Company is a community store that serves breakfast, brunch, and lunch style. What Im excited to say is, we only lost one community leader out of that whole change process. And I mean there was a point when we did that fast growth process that I realized that this job could outgrow me. And then secondly is, because it had been such core that we were, I had to take them through the process to help them understand how this actually was going to make their life better. And that were doing life together and helping each other along. To fund the growth, he put his house up as collateral on a bank loan and personally signed a guarantee that, had Moore failed, would have left him penniless. The menu features items such as biscuits and gravy, fried chicken, and shrimp and grits. But a bank wasnt going to do it unless I did. And so I wanted everybody to get rewarded. But they basically have the same menu. So the best way to do is firewall it, just dont open. Safe place, nobodys allowed to holler at anybody, that includes me. And we had 13 total people, salary, hourly, complete. So youre building a new community store. victor harbor hospital. But its our fresh made biscuit. And that added stress to the whole change process. And so when it came time to even name Maple Street as a company, I sent out to all those 40 people a bunch of different names. Maple Street Biscuit Company FIND A LOCATION FIND A LOCATION FIND A LOCATION We're More Than A Biscuit CHECK OUT OUR MENU Locations Order Online Our Menu Help People. In 2006 Kelby Zorgdrager started DevelopIntelligence, an outsourced training provider that helps programmers develop new skills and adapt to ever-changing technologies. And if enough people like our opinion, we have a compelling concept. So from this little scrappy startup that was every nickel, dime and dollar just to earn the right to go do some more, to be in a position where we have no debt is such a freeing thing. 30-year career in the grocery business. Did you have a sense before that conversation started, how a company like yours would be valued? Okay, thats fine. You get freedom My team, my executive team, they go do good. There had been no announcements of new stores up. Maple Street Biscuit is a restaurant chain that specializes in Southern comfort food. creamy wild rice mushroom soup Why would Cracker Barrel this NASDAQ traded hundreds and hundreds of stores be interested in little Maple Street? Theyre going to ask themselves, is it easier and cheaper for us to simply compete with your business? What impact did getting rid of the loan have on your own personal psyche? Yeah. And the question is okay, whats our growth story? They could be the ambassador, they could go put stuff on the grill, they could go to the deli and make the stuff and bring it on the counter and call it. Maybe I want a little lifestyle business. What I know is, as much as the dollars are important, they were not the all important choice for us. Wait, wait, yes. Im like, We just have to stick with our model and execute it. Make all our comfort food with a modern twist from scratch! Theres a lot of places between here and there. Maple Street had created a durable competitive advantage because of its brand, which was defined by Moores careful choice of words. Then I did a second P&L that said, hey if this thing really took off, would it even be worth it? Thats the ultimate endorsement. There are hundreds of people on the Maple Street team where we get to be part of their story. The Lebanon, Tenn.-based company on Friday said it has acquired 33-unit Maple Street Biscuit Co. for $36 million in an all-cash deal, its second major investment in a growth chain in just a few months. But we werent telling anybody. Its a standalone brand. I need to know that when they think the way we think, they know the goals to go, theyll get us there because they take initiative and freedom and they know who we are. May, her attitude over the last couple of years, versus when we started out, shed grown in her belief in Maple Street and what it could do. And I currently had had 175 people on my team throughout the distributed organization. And then it has a community leader still have half the day left to go enjoy the day. And I came back and told her, Thank you but I want the last half of my life to have more impact than the first half. I didnt even know what that meant at the time, John. Some of them got 80% of their annual salary. As it turned out, his timing was perfect as his site helped underwater homeowners unload their real estate. So we dont have cashiers. How many employees did you have? They moved the headquarters last year from co-work space Downtown to Orange Park. Restaurant groups, private equity firms, investment banks. Not only was it a personal guarantee on the loan, it was a personal guarantee on So when you first went out, those first sites, landlords dont know who you are. Myself, bringing in an individual investor, doing the joint venture partnerships, then we proved the concept and the model to the point where we had credibility, we could go to the bank and then fund our growth until of course, we were acquired by Cracker Barrel. Fantastic. And so thats our responsibility, was to go find a way to serve in more communities. First, he was one of those individuals in my life who could look at me and challenge me, which I wanted. The world's third largest burger chain, trumped only by McDonald's and Burger King, Wendy's has been doling out delicious square hamburgers since 1969. And so the Squawking Goat ended up, but it was originally was whats called The Squawk On The Street. But we had to answer this question. When we call out the answer to the community question, you come and you pick up your food. Ti trovi qui: Studio Associato Ingeo - Ing. The concept is based on delivering a unique guest experience involving comfort food with a modern twist and gracious service. I might would have to go hire a CEO to run my company. We were closed on Sundays. And I sent it back to them and said, Well, overwhelmingly this is what everybody says but Im not sure I can find a location on Maple Street for our location.. As a community leader, you get to run your own Maple Street. Franchise Disclosure Document (FDD) Database. 2407 8th Ave. S. Suite 105. He has in there five levels of initiative and freedoms. Id lived there for seven years. This business itself doesnt run it on autopilot. We were doing the six days a week, it was fine. And then I would look at what they ordered and I would calculate based on the menu I had, how much they spent. The stores report targeted average-unit volumes of $1 million and store . And he knew that I am not a perfect person and that I have struggles. To in your own admission, most restaurants go bust in a few years. And she has been true to her word on that, for the four months weve been doing this together. I didnt have restaurant background but experiences that God took me through for those 30 years in the grocery business prepared me for the day when I had to go do something on my own. Two that had been part of it and I wanted to talk to ahead of time, to get them up to speed. And if our missions that important. Lets get into the Cracker Barrel negotiations. So we came up with a four leadership model that gave us depth and breadth to support a large, a fast growth pattern. And I dont want this to sound arrogant because I dont always have everything figured out, John. They manage stuff. You had this entrepreneurial experience. No. And so when this became the viable option, we asked Piper, Hold on those. It currently has 28 company-owned and five franchised fast casual locations across seven. And shed actually eaten in a Maple Street three years earlier and wrote a Yelp review. We call them community stores and theyre all called by community. One was, we did what we call these joint venture partnerships is that for individuals would bring capital to the table, basically 150 thousand dollars. I dont know what theyre doing every day, every week. I remember the range that what we came to the deal with, Cracker Barrel was right in the middle of the dollar amount range. And restaurants fail even at a faster pace. Inside Uptimes 7-Figure Acquisition of JurisPage. And then we have a house made pepper jelly that we take and we pour all over that. Well, the answer comes down to how well you branded and differentiated your business. Ill get the sausage and cheese omelet, like potatoes, cup of coffee and Im good to go. Did you go into the negotiation with that as a stipulation? And ask them if theyd put it in the dirty dishpan. And maybe we can use the diligence which weve done in going through this process. But we never got to that point. Thats what they do. Thats all we were going to hire was three people. I knew a gentleman there who was looking for an opportunity. But I also thought if were a community store, we could go one step further and asked our guests to help us clean up after were done. We did not, because we put When this became serious conversation and we all agreed that they could be a really good strategic partner, we asked Piper, just table those for now. 4906 FM1463 Suite 700, Katy, TX 77494 Its amazing when you ask that question and then you just get quiet and listen to people, how much theyll tell you. We dont have store directors because what does a director do? Thats why you have an open kitchen. And for me, it was my whole MBA. Pour maple syrup mixture into pie pan and place biscuits into pan in tortoise shell pattern. Absolutely. Because when did you start Maple Street? Every month it changes. Hear his story on this weeks episode. Thats your 20% of your hours for breakfast, brunch lunch that youre going to get your business. They at least have to come and recommend and maybe talk about act and advise. He was working at the Volkswagen plant and didnt have restaurant experience but our model is designed that we go teach them. They want to be able to be across thousands of units that you go in and you get what you said but its not a bad experience. So I started out with the first store, I paid for it myself. Have fun making things like Iced Americanos and Caramel Toffee Crunch Lattes! And so you come to there, its approachable. And he asked me that because Maple Street had done so well. And how we show grace to our guests. This is what gets to, Hey I came to you before, I told you you cant wait until told, you at least come ask me what to do. Thats so important. Did you buy your wife anything when the transaction went through for all of her was there a trophy involved? And you have to listen to it and consider it. Were basically open seven in the morning until two in the afternoon. The goal is how can we go change peoples lives. Masseys Pizza, Columbus' oldest pizzeria has been making the perfect pizza taste since 1949. Unfortunately, the deal was too good to be true. Serve others. How big did you get the business before you decided it was time to sell? Scott Moore, welcome to Built To Sell Radio. I had the Double Down Ralphie Deluxe, flaky biscuit, sausage gravy and two over easy eggs. And we needed more depth and breadth. It was never been my goal as how do we get there. A lot of guys that age would be like, Perfect. I mean, with all the resources in the world, why wouldnt they just compete with you? November, 2012, yeah. Thats a great story to go tell. You take out the loan when you building it out and you start paying right away, while that stores ramping up and starting to earn, cash flow positive. Wed immediately have a growth story. Scott started the Maple Street Biscuit Company and sold it to Cracker Barrel for a cool $36 million. Words mean something. What I can say now is, like Steve Jobs said in his very last public speech, it was college commencement before he passed away. I guess what Im getting at is, is it a multiple of EBIDTA or a multiple of sales? Opened in 2012, it was the first of 33 locations. As a percentage of an annual compensation, what would it have been? But they said, hey I explained to them we were going to market and what our strategy was and they said, Hey, but wed like to talk to you. And we spent 10 months really getting to know each other. They didnt know everything that I knew about, if were going to serve more communities, what that would look like. We make that as a very attractive schedule for somebody in this industry. So is there potential for a wow here? We talk about gracious eyes. And if I was going to be the CEO, I had to get myself ready. At the same time, they wanted us to be reminded of this. And level zero is wait until forced. Youre investing in that. And in that, they are the purveyors of theater and romance. And we did 10 months in the first store. I say this to the team repeatedly, I say, If I knew five months ago what I know now, wed still do the transaction.. I did spend 30 years in the retail grocery business. Fresh Squeezed OJ NEW COMMUNITY STORES 2023 Does it ever feel like, oh my gosh, Ive gone back, its Groundhog Day. A second store worked well too. Community leader is somebody who gets our heart and our mission. That Ive had it but Ive never had it that way before. It currently has 28 company-owned and five franchised fast casual locations across seven states. But whats really most exciting about that is, its not like we just had one community leader doing well. So for me it was, Id like the last half of my life to have more impact than the first half. And so there was this modern twist that would make us a destination. The casual leader announced Friday it's agreed to acquire 33-unit Maple Street Biscuit Company in an all-cash transaction for $36 million. No, thats where people misunderstand grace sometimes, John. And in this course, I teach my team, youre either moving up the levels or youre moving down the levels. It started with one pizzeria still located in Whitehall, Ohio and has expanded to 14 stores located in. And see for us, its a little bit of a challenge because those things are important. We invited my friends and neighbors over to my house and we would make food for them. And so this is probably the biggest change for them but also their also on just seeing that it is a huge personal benefit for them. Yeah. And Scott, give me a sense of whats going on for you personally at the time. This could be a sort of like rocket fuel underneath our business. Emboldened by their early results, Moore wrote a business plan for a massive expansion, which called for building 25 locations across the southeastern United States in just 18 months. To me, for them its just a transaction, right? However, Zorgdrager had a problem. So for me, our number one filter is trust. They know the experience. Nobodys allowed to stay at level one, which is wait until told. Those had good economics and so we had a couple of different individuals who did multiple sites like that, through this process. And when you go there, you have to go to that restaurant. I want five years from now, for Cracker Barrel to look back and say, This was the best decision we ever made. And I want that to be earning us the right to go serve in more communities. Youre concerned about their concerns and they just give you freedom to go do it. Yum! To think through what are the motivations in my life. Wow. Those words mean things. And some of those were depending to be a part of the conversation as well. The business snowballed as Zorgdrager onboarded most Fortune 500 giants in his space. And Id grab Zeke and Id say, Lets go to Paneras. And I just wanted to know if there were people there. And how do you reconcile in your own mind, the trade offs of continuing to run as an entrepreneurial leader in a bigger company. I guess I always assumed that would be the way it was. At what point did the conversation into the nine month quoting process go from you buying their stores, to the opposite. Today I ordered one of my favorite sandwiches.The Squa What would have happened if the business had failed? So people have had biscuits and fried chicken. But when I first started out with this, that was my fourth principle because they said this, Sustainable for us means at least this, dont lose money. Columbus & # x27 ; s don & # x27 ; oldest pizzeria has true!, Jaclyn Johnson founded Create & Cultivate, a responsibility to challenge me at the Volkswagen plant didnt... Acquiring you this will be a part of peoples lives another company week. Gave us depth and breadth to support a large, a media company that educates and inspires women to in! Place biscuits into pan in tortoise shell pattern in 2006 Kelby Zorgdrager started DevelopIntelligence, an training! 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