Planning for Business Expansion: Implementing Growth Tactics to See Real Results with Miracle Method CEO Chuck Pistor
Franchise Euphoria
English - February 10, 2023 08:00 - 29 minutes - 18.7 MB - ★★★★★ - 165 ratingsEntrepreneurship Business Investing franchisee franchisor internet money brown business buy buying entrepreneurs euphoria Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
For many franchises, the goal is to expand. Depending on the business model, ideal locations, and finding the right people, this can be done quickly or it could be a slower process. But the most important thing is that there is a plan for business expansion and tactics in place to see the right results.
Chuck Pistor, President and CEO of Miracle Method talks about just that in today’s episode of Franchise Euphoria. Miracle Method is the nation’s largest home improvement franchise and has been around since 1977. Starting out with a few locations in California, now Miracle Method has 165 locations with over 40% of sites breaking a million dollars in sales yearly. In today’s discussion, Chuck explains how Miracle Method works, what they do, who they serve, and how they are implementing growth tactics to reach their expansion goal in 2023.
Key Takeaways:
[2:39] - Chuck shares his own background and how he wound up as CEO of Miracle Method.
[5:04] - He began as a consumer but eventually bought Miracle Method in 1996. At that time, it was already a franchise with about 20 locations.
[6:38] - After 40 years, the company still uses the same bonding agent and is a coveted formula.
[8:22] - Over the years, the technology has expanded to allow the company to offer more than just bathtub renovation.
[10:49] - When Chuck transitioned into this role without a background in franchising, he learned a lot and decided to connect the franchisees together for collaboration.
[12:22] - Chuck took the opportunity to get to know the franchisees and learn from them. He also opened a franchise to experience what he didn’t know.
[15:16] - What does Chuck look for in franchisees?
[16:21] - The Covid-19 pandemic impacted this particular franchise and industry differently than others.
[17:30] - What does Miracle Method do to repair and restore?
[19:39] - 2023 is an expansion year for Miracle Method with the goal of adding 12 or more locations across the US.
[20:50] - There are two different models: the man in the van model and the manager model.
[23:54] - When it comes to expansion, Miracle Method’s strategy is to find the right people.
[25:45] - Going to their website, you can see examples of Miracle Method’s work.
[26:51] - Commercial work is also something Miracle Method does.
Mentioned in This Episode: