This is one of the most enjoyable interviews I have been a part of.
Larry Sutton started out with a traditional rent to own business. Once he sold it he took an early retirement to play golf all the time. After a year, Larry got bored. What he was missing was the interaction with people and watching them grow and growing himself.
He kind of fell into the franchising business. Serving has always been at the heart of everything he does. Currently, RNR Tire Express is experiencing organic growth with 24 franchisees operating over 110 locations. Each store averages about $1.6 million in sales annually, with the top 20 hitting nearly $2 million. The brand has grown to $130M since beginning to franchise in 2003.
- The balance between who you need to be and being open to new ideas
- The importance of allowing the creation of a beta site for new ideas
- How to make employees feel like they are working with you and not just for you
- The best ideas come from the field and not the boardroom
- To hold people accountable by asking them to bring 3 solutions along with any problem
- Mistakes are some of the most valuable experiences in life
- The magic of jointly creating a “stretch” bonus
Originally posted on Julie Ann Sullivan blog.