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Pete Ricciardi

Peter "Pete" Ricciardi — franchise veteran, profit strategist, speaker and author of "Mind Shift" at Ten9Eight7

Sep 30, 2026

7:46
Why do you think that happened? Yeah.
7:47
Well, first of all, again, regionality really matters in certain businesses.
7:52
You know, I'm not sure regionality matters in all franchises, but I can tell you there's advantages of being regional.
7:59
There's advantages of being able to, number one, think that people have driven by a Freddy's once before somewhere in another market, like the most that the market next to you had a Freddy's, you open up the next market contiguously.
8:11
I mean, that's how most of these things have succeeded inside out.
8:15
Number two, what we just talked about is if you haven't tried cities, okay, and you've mostly been in suburbia and more rural, does the Freddy's franchisee who tries the city, is he supposed to get a break? Or is he supposed to be the test tube baby and go into the city and try to find out on his own? That's an interesting thing.
8:33
If all of a sudden you realize that he's got to do a standalone or an end cap, not a standalone, excuse me, an end cap or he's in a strip mall, is he supposed to be the first one that finds out that works because he can't get drive-thru or are you supposed to find that out as the franchisor? Well, in the case of Freddy's, just about everything went wrong in the sense that they found out they were not in the right market.

7 MINS LATER

16:14
What's your thoughts on that?
9:02
Jack in the box.
9:04
The last time we were talking, what happened with Jack in the box? How did they become angry Jacks? And they became very angry Jacks.
9:10
And they really became very angry Jacks because nothing was going correctly.
9:14
Their sales were down.
9:15
The customers were not very happy.
9:17
And the franchisor was continually asking them to reinvent themselves and spend more money.
9:22
So much with the franchisors in 2018.

7 MINS LATER

15:54
The quiet story is that franchising is not just scale, it is Main Street ownership with a playbook.

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