Building Faith and Franchises: Peter Economies on AI, Hiring, and Success in Modern Business

In this episode of the Big Hitters podcast, Andrew Hathaway speaks with Peter Economys where he shares his extensive experience in the franchising industry, discussing the challenges and opportunities that come with it. He emphasizes the importance of evaluating franchisors, the current trends in the market, and how faith plays a crucial role in his business operations. The discussion also touches on the impact of AI in the industry and the need for constant hiring in today's workforce.

Takeaways:

• Franchising has a high barrier to entry, requiring good credit and capital.
• Consulting with existing franchisees is crucial before investing.
• Successful franchises often have owners who operate their own stores.
• Coffee franchises are currently trending due to daily customer visits.
• Cost increases are a significant challenge for franchise owners.
• A strong company culture can lead to lower employee turnover.
• AI is beginning to play a role in hiring and customer service.
• Faith-based values can enhance customer service and employee satisfaction.
• Evaluating the franchisor's ownership of stores is essential for potential franchisees.
• The future of franchising may involve more technology and personal insights.

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