Jack Foster & Jake McLaughlin raised $2.8m to buy 10 Meineke stores. That equity has taken them further than expected.
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Topics in Jack and Jake’s interview:
- Childhood friends turned business partners
- Leaving Goldman Sachs, KKR, and Baird for entrepreneurship
- Why they chose the franchise roll-up model
- Consolidating units within the Meineke system
- Applying a first-principles approach to an unfamiliar industry
- Paying royalties as the price of product-market fit
- Technician recruiting advantages of a strong franchise brand
- Why they passed on car washes and quick lube
- The real timeline of the EV threat to auto repair
- Buying real estate and using sale-leasebacks for growth capital
References and how to contact Jack and Jake:
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Edited by Anton Rohozov and produced by Pam Cameron
