The Subway to Success: Competitor couldn't Resist Taking a Risk

By: Kevin Behan | 7,143 Reads | 10 Shares

Featured in: Multi-Unit Franchisee Magazine: Issue 3, 2024

%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E+Bill+Mathis%3Cbr%3E%3Cstrong%3ETitle%3A%3C%2Fstrong%3E+Franchisee%3Cbr%3E%3Cstrong%3ECompany%3A%3C%2Fstrong%3E+Subway+and+Caribou+Coffee%3Cbr%3E%3Cstrong%3ENo.+of+units%3A%3C%2Fstrong%3E+3+Subway%2C+1+Caribou+Coffee+with+4+under+construction+%3Cbr%3E%3Cstrong%3EAge%3A%3C%2Fstrong%3E+58+%3Cbr%3E%3Cstrong%3EFamily%3A%3C%2Fstrong%3E+Wife+Michelle%2C+son+Michael%2C+26%3Cbr%3E%3Cstrong%3EYears+in+franchising%3A%3C%2Fstrong%3E+23+%3Cbr%3E%3Cstrong%3EYears+in+current+position%3A%3C%2Fstrong%3E+23%3C%2Fp%3E%0D%0A%3Cp%3EBill+Mathis+isn%27t+afraid+to+take+a+risk+in+business%2C+especially+if+it%27s+a+concept+he+believes+in.%3C%2Fp%3E%0D%0A%3Cp%3EWhen+Mathis+was+working+as+a+franchise+consultant+for+Subway+more+than+two+decades+ago%2C+one+of+the+company%27s+development+agents+said+a+restaurant+in+Crosslake%2C+Minnesota%2C+was+about+to+close.+He+asked+if+anyone+internally+had+an+interest+in+buying+it.+Mathis+knew+the+Subway+concept+was+solid+from+his+regular+monthly+visits+to+35+Subway+locations.+He+also+knew+the+stores+were+profitable.+He+didn%27t+have+direct+experience+operating+a+restaurant%2C+but+that+didn%27t+stop+the+self-professed+competitor+from+accepting+the+challenge.%3C%2Fp%3E%0D%0A%3Cp%3E%22I+had+%24500+in+my+bank+account+at+the+time%2C+but+I+told+him+I+was+interested%2C%22+Mathis+recalls.+%22I+told+my+wife+about+it%2C+and+she+thought+I+was+crazy.+But+I+knew+how+successful+I+could+be+with+the+Subway+brand.+The+development+agent+I+worked+for+at+the+time+helped+me+with+financing%2C+and+looking+back+more+than+20+years+later%2C+it+was+the+best+business+decision+I+made.%22%3C%2Fp%3E%0D%0A%3Cp%3EMathis%27+gamble+has+paid+off+with+a+successful+career+as+a+multi-unit+franchisee.+In+addition+to+operating+three+Subway+restaurants+in+Minnesota%2C+he+is+helping+his+wife+following+the+recent+opening+of+a+Caribou+Coffee+store+in+St.+Petersburg%2C+Florida.+They+have+four+more+locations+under+construction+in+the+area.%3C%2Fp%3E%0D%0A%3Cp%3EIn+addition+to+being+multi-unit+franchisees%2C+the+pair+are+in+the+process+of+developing+their+own+brand.+They+plan+to+sell+custom-made+baked+pizza+by+the+slice.+The+first+Slice+Nation+is+expected+to+open+in+Tampa+in+2025.%3C%2Fp%3E%0D%0A%3Cp%3EThe+competitor+and+his+wife+are+betting+on+themselves+again.%3C%2Fp%3E%0D%0A%3Ch2%3EPERSONAL%3C%2Fh2%3E%0D%0A%3Cp%3E%3Cstrong%3EFirst+job%3C%2Fstrong%3E%3A+Snyder+Brothers+Drug+Store+in+Apple+Valley%2C+Minnesota%2C+when+I+was+16.%3C%2Fp%3E%0D%0A%3Cp%3E%3Cstrong%3EFormative+influences%2Fevents%3A%3C%2Fstrong%3E+As+a+child%2C+my+parents+made+it+a+priority+to+attend+Sunday+school+and+church%2C+learn+the+catechism%2C+get+confirmed%2C+and+learn+and+live+the+Ten+Commandments.+The+belief+in+doing+what+is+right+was+instilled+in+me+at+a+young+age.+I%27m+also+a+very+competitive+person.+I+hate+losing%2C+and+I+really+have+no+idea+where+that+came+from.+I+always+felt+disappointed+if+I+lost+playing+Wiffle+Ball+or+dodgeball+as+a+young+child.+When+I+won%2C+it+was+the+best+feeling.+That+competitiveness+remains+in+me+and+carries+into+business.%3C%2Fp%3E%0D%0A%3Cp%3E%3Cstrong%3EKey+accomplishments%3A%3C%2Fstrong%3E+Becoming+chair+of+the+North+American+Association+of+Subway+Franchisees+%28NAASF%29+and+vice+chair+of+the+Coalition+of+Franchisee+Associations+all+in+the+same+year.%3C%2Fp%3E%0D%0A%3Cp%3E%3Cstrong%3EBiggest+current+challenge%3A%3C%2Fstrong%3E+I+am+assisting+my+wife+in+bringing+the+Caribou+Coffee+brand+to+a+new+market+in+St.+Petersburg%2C+Florida.+There+are+other+more+established+coffee+brands+in+the+market%2C+and+we+need+to+familiarize+local+customers+with+the+concept.%3C%2Fp%3E%0D%0A%3Cp%3E%3Cstrong%3ENext+big+goal%3A%3C%2Fstrong%3E+My+wife+and+I+are+co-founders+of+a+new+concept%2C+Slice+Nation%2C+which+offers+custom-made+and+baked+pizza+by+the+slice.+We+are+planning+to+open+the+first+location+in+2025.%3C%2Fp%3E%0D%0A%3Cp%3E%3Cstrong%3EFirst+turning+point+in+your+career%3A%3C%2Fstrong%3E+When+I+decided+to+purchase+my+first+Subway+restaurant+in+2001.+I+did+not+have+much+money+at+the+time%2C+but+I+knew+from+experience+that+it+would+be+a+profitable+venture.%3C%2Fp%3E%0D%0A%3Cp%3E%3Cstrong%3EBest+business+decision%3A%3C%2Fstrong%3E+Moving+from+Minneapolis+to+the+Brainerd+Lakes+Area+to+open+our+first+Subway.%3C%2Fp%3E%0D%0A%3Cp%3E%3Cstrong%3EHardest+lesson+learned%3A%3C%2Fstrong%3E+You+can%27t+trust+everyone.+In+the+business+world%2C+some+people+will+tell+you+one+thing+and+do+something+else.%3C%2Fp%3E%0D%0A%3Cp%3E%3Cstrong%3EWork+week%3A%3C%2Fstrong%3E+I+work+in+some+capacity+nearly+every+day.+I+am+frequently+in+communication+with+the+stores+and+know+the+business+and+labor+operations+each+day.%3C%2Fp%3E%0D%0A%3Cp%3E%3Cstrong%3EExercise%2Fworkout%3A%3C%2Fstrong%3E+Playing+golf.%3C%2Fp%3E%0D%0A%3Cp%3E%3Cstrong%3EBest+advice+you+ever+got%3A%3C%2Fstrong%3E+Get+rid+of+debt+as+fast+as+you+can+and+don%27t+be+afraid+to+walk+away+from+a+deal.%3C%2Fp%3E%0D%0A%3Cp%3E%3Cstrong%3EWhat%27s+your+passion+in+business%3F%3C%2Fstrong%3E+Se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Published: September 20th, 2024