If you think of high quality sandwiches that you can eat whenever you feel like it, Jimmy John’s is probably going to cross your mind. Jimmy John Liautaud has managed to create a sandwich chain that everybody loves, and it has created a much better understanding of how the industry works as well. As a result of the fact that this is the case, a lot of up and coming entrepreneurs have decided to study the story of Jimmy John’s, and if you look at this story you would notice a lot of really important decisions that the founder made all of which helped make Jimmy John’s as popular as it is today.
You see, when Jimmy John’s was still coming up the founder of the chain noticed a problem. This problem was that most of the outlets were at locations that really weren’t considered all that desirable. Hence, sales were not as high as they could be. While the company was still turning a profit, this is not enough in the world of business. You can’t just turn a profit, you need to maximize your profit so that you could potentially end up expanding your enterprise until it would come to a point where it is extremely valuable.
Hence, Jimmy John’s sold a 33% stake in the company to a private equity firm by the name of Weston Presidio. This firm helped scout and secure over a hundred locations for the chain, and thus profits started to increase. The founder of this chain sold a third of his company but ended up earning more money than ever before! This is something all entrepreneurs should keep in mind as they work.