Summary

In this conversation, Michael Fay shares his journey from working at Subway during high school to becoming a successful multi-unit franchise owner. He discusses the importance of early experiences in retail, the lessons learned from various companies like Blockbuster and frozen yogurt businesses, and the significance of company culture and direct feedback. Michael emphasizes the value of following established systems, the importance of building a strong team, and his unique approach to turning around struggling restaurants. The conversation highlights the collaborative relationship between Michael and Josh, showcasing their mutual respect and shared experiences in business.

Takeaways

• Uncover the surprising life lessons hidden behind the counter of your local Subway that could unlock your own success story.
• Master the art of feedback and uncomfortable conversations to catapult your career to new heights.
• Dive into the high-stakes world of franchise ownership, where one wrong move could cost you everything.
• Uncover the surprising truth about employee happiness and why a thriving company culture is the ultimate competitive advantage.
• See how one entrepreneur used creativity to dominate the frozen yogurt scene in a battle for brain freeze.
• Discover the essential policies and training programs that separate successful companies from those that crumble under pressure.
• Meet the operational masterminds who keep the gears turning behind the scenes and empower businesses to reach their full potential.
• Explore restaurants' strategies to stay ahead of the curve and thrive in a cutthroat industry.
• Discover the secrets behind Subway's global domination and whether their proven playbook can be replicated for success in any industry.
• Learn how creating a family-like environment can foster unwavering loyalty and commitment in your team.

Chapters

00:00 Introduction to Michael Fay

02:51 Early Lessons at Subway

08:21 Company Culture Insights from Blockbuster

10:30 Innovating in the Frozen Yogurt Business

14:04 The Flex Academies Experience

16:53 The Subway Journey Begins

20:57 The Turnaround Guy Philosophy

23:44 The Importance of Following the Subway Playbook

26:34 Building a Strong Team Culture

30:46 Creating a Family-Like Environment

34:51 Conclusion and Reflections

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