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patio11's profile
Patrick McKenzie
Patrick McKenzie
Patrick McKenzie
@patio11

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Patrick McKenzie

@patio11

I work for the Internet, at @stripe, mostly on accelerating startups. Opinions here are my own.

東京都 Tokyo
kalzumeus.com
Joined February 2009

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    Patrick McKenzie‏ @patio11 31 Dec 2017
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    A thing I want to read a bit about this year: franchising. Not because of any desire to do it, but successful franchises figured out how to productize some, most, or effectively all back office tasks of a business. That's a neat trick.

    4:39 PM - 31 Dec 2017
    • 12 Retweets
    • 142 Likes
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    7 replies 12 retweets 142 likes
      1. Patrick McKenzie‏ @patio11 31 Dec 2017
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        My mental model for a franchise is that it's essentially a bit of software and contracts which is sophisticated enough to use a human, who thinks they are running things, as an actuator to sign additional contracts, hire, rent real estate, etc.

        8 replies 8 retweets 66 likes
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      2. Trevor McKendrick‏Verified account @TrevMcKendrick 31 Dec 2017
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        Replying to @patio11

        My fav part of franchising is that franchisors have to make their financials publicly available. biggest surprise was that it takes WAY more franchisees to make big $ than imagined.

        1 reply 0 retweets 2 likes
      3. Trevor McKendrick‏Verified account @TrevMcKendrick 31 Dec 2017
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        Replying to @TrevMcKendrick @patio11

        There should be an @IndieHackers column: this SaaS biz run by 1 person is generating as much profit as this franchise with 100 locations

        0 replies 0 retweets 12 likes
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      2. Peter Suhm‏ @petersuhm 31 Dec 2017
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        Replying to @patio11

        Have you read The E-myth Revisited? Great book!

        1 reply 0 retweets 5 likes
      3. Toby Osbourn‏ @tosbourn 1 Jan 2018
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        Replying to @petersuhm @patio11

        Ha, I had come into the thread to see if anyone had mentioned this book. +1 from me, really made me think about what parts of my consulting business would be improved by making them franchisable.

        0 replies 0 retweets 2 likes
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      2. Seth Verrinder‏ @sethev 31 Dec 2017
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        Replying to @patio11

        The Founder was surprisingly good. Especially interesting that owning the land underneath restaurants was the turning point for corporate making money and enforcing standards.

        1 reply 0 retweets 5 likes
      3. Patrick Foley‏ @PatrickFoley 31 Dec 2017
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        Replying to @sethev @patio11

        +1 The Founder

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      1. Imran Ghory‏ @imranghory 31 Dec 2017
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        Replying to @patio11

        Would recommend reading franchise packs; you can normally get them by filling in an online form with no commitment

        0 replies 0 retweets 2 likes
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      1. kate‏ @Sneaky_Kate 31 Dec 2017
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        Replying to @patio11

        Interesting. Do they really 'productize' though? Or just write up some guidelines? Honest question, I haven't looked into it at all. When I worked in restaurants they were all similar, made decisions based on things like 'are paperclips slightly cheaper than rubberbands', etc

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      1. 𝗖𝗮𝗺𝗽𝗯𝗲𝗹𝗹  ⚡‏ @cambel 1 Jan 2018
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        Replying to @patio11

        It's also an alternative funding model.

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