Empowering Franchisees with Former Jimmy John's Franchisee & Sandwich Math Founder Nick Olson
A passionate former Jimmy John’s franchisee, Nick Olson, founded a company to empower Jimmy John’s franchisees just like him. Nick joined forces with Ceterus in late 2017 to bring a full done-for-you accounting and benchmarked reporting solution to Jimmy John’s franchisees.
Nick Olson was introduced to Jimmy John’s while still in college, and described himself as “the only college student looking forward to working his lunchtime shift at Jimmy John’s.” He was the first Jimmy John’s franchisee in the state of New Jersey, and built several successful businesses there.
Nick tells Small Business Edge host T.K. Coleman, “As a new franchisee, I was the annoying guy in the Facebook group going, ‘How do I fix my ice machine??’...I got so much great information from other franchisees that it felt good to give back to that community.” Seeing a gap in the market, Nick wanted give back by creating an accounting solution that allowed franchisees to leverage their accounting and bookkeeping into something they could use to run a better business because that solution wasn’t out there yet -- and that’s how Sandwich Math was born, and why he ultimately decided to partner with Ceterus to enhance that solution for Jimmy John’s.
S2 E3 - Empowering Franchisees with Former Jimmy John's Franchisee and Sandwich Math Founder Nick Olson
Nick Olson is the founder and CEO of Sandwich Math. After owning a Jimmy John’s franchise and realizing there was no good solution for accounting and bookkeeping, he started Sandwich Math, which was acquired by Ceterus in late 2017. Nick now works with Ceterus to bring a tailored accounting and benchmarked reporting solution to the Jimmy John’s franchise.
On this episode of the podcast, Nick shares how he was able to run a Jimmy John’s franchise while starting Sandwich Math, and what he’s learned about being a franchise owner. He shares the most common struggles for new franchise owners, what franchisees often overlook, the challenges of where to focus your energy as a busy entrepreneur, and much more.
Discussed in this episode:
Slow and steady growth can help you scale your business more easily
Build your network before you try to sell
How to get your creative ideas approved
Deal with problems as they come, and focus on creating a really great product or service
The most common struggles for new franchise owners
The power of advertising
How to choose a franchise
Nick’s history with Jimmy John’s
The challenge of figuring out where to focus your energy when you’re on the go
What franchisees often overlook
Learn more about Ceterus at ceterus.com.