|
I asked Michael how he sees his business – a franchisor of cafes – generally; ‘how’s business?’ over the next quarter?
… Excellent. Strong same-store sales growth, new product offerings. Interest rates are low, consumer spending is getting tight. Expansion – we are opening in Ottawa and looking at more growth across the country. Downturns in some markets can help us as costs come down. Our brand is getting traction. We are premium, but we are not pricey.
And over the next five years?
… People appreciating quality better – going more up-market in their tastes. We see fallout from failures – closures and consolidations in the sector may help us. When weaker operators fail, that creates opportunities and may facilitate locations becoming available in markets we like.
What qualities distinguish your preferred colleagues, collaborators and suppliers?
… #1 is quality. #2 is price. #3 is distribution capability. Closest to home, matching values, capable to perform. Local, local, local.
What distinguishes you that causes people to choose Michael Going and Good Earth, why do they do business with you, why have they chosen you, over your competitors?
… People really appreciate good coffee and wholesome foods without additives. They appreciate our values. For 24 years now, we have built a brand that attracts people. We are NOT a fast-food experience. Doing business with like-minded people and companies. We have never been a discount operation. We are now at 45 stores. That means 600 people!
How would you describe your leadership style?
… we lead by example. Strong work ethic. We hire like-minded people.
What do you lose sleep over, what do you worry about?
… the rising cost of everything. Relationships with our coffee growers throughout central America. All coffee is not created equal. We have our beans roasted in Calgary.
Who or what influenced you most – that has made a difference in your life, or that was a major turning point?
… several. My dad impressed me by how well respected he was. Early in my career, joining Bramalea Group was a great learning experience. The Quantum Shift Group – Ivy School of Business. They take 40 entrepreneurs from across Canada each year, being exposed to the brightest and best. A year ago I took a one-month trip to Tibet at the urging of my friend David Farron, retracing Mallory’s expedition to Everest. You can read about it – Wade Davis’s book.
Work life balance, do you have it?
… not as much as we would like. I have been stepping back from the day-to-day (we have a great COO Gerry Docherty) so I can focus on new business development.
What do you read?
… Into The Silence by Wade Davis, I am finishing a book on Catherine the Great. Business Books. I am interested in history.
His ride?
… 2011 Volvo XC90.
|