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Empires

Empires

By: Patrick Buckley
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About this listen

The stories behind the best brick & mortar businesses, and operators:

Empires is a show that interviews founders, operators, and investors in the top brick & mortar businesses, many of which are franchises. Every month, the host, Patrick Buckley, narrates the story of specific brands and how that business became an empire.

Copyright 2025 All rights reserved.
Economics Leadership Management & Leadership
Episodes
  • The Man Trying to Save Frozen Yogurt Franchising
    Jan 30 2026
    Get in Touch

    Interested in buying a franchise? https://www.empirespod.com/buy-a-franchise

    Are you a multi-unit franchise owner considering selling your business? https://www.fdcapitalgroup.com/

    Partnership Opportunities

    https://www.empirespod.com/about#about-footer

    🧠 Episode Description

    Frozen yogurt was written off as a dead category.

    Neil Hershman didn’t buy that.

    After leaving finance, Neil became a franchisee of 16 Handles, fixed broken operations at the store level, doubled profits, and eventually acquired the entire brand. Today, 16 Handles has ~40 locations open, dozens more in development, and multiple million-dollar frozen yogurt stores - while competitors stagnate.

    In this episode, we break down:

    • Why frozen yogurt was never actually dead
    • The unit economics behind 20%+ margins
    • How Neil turned underperforming corporate stores into cash-flowing assets
    • Why owning stores as a franchisor keeps incentives aligned
    • How COVID created the best real-estate opportunities of his career
    • And what most franchise brands get wrong about growth, PE, and operators

    This is a masterclass in operator-led brand revival, smart franchising, and building community-driven businesses that actually work.

    🔑 Key Topics / Bullets (Platform-Friendly)
    • From finance job → franchisee → franchisor
    • Turning legacy brands into growth machines
    • Frozen yogurt unit economics (rent, labor, margins)
    • Why self-serve = automation before AI
    • Urban vs suburban store performance
    • Scaling without private equity
    • Million-dollar dessert stores
    • Buying brands when founders are “checked out”
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    1 hr
  • He's Building a Dessert Truck Empire (70+ territories)
    Jan 23 2026

    In this episode, Cliff Kennedy, CEO of Frios Gourmet Pops, shares how he went from being a franchisee to acquiring the entire brand, rebuilding the company from the ground up, and transforming it into a mobile-first dessert empire

    Interested in

    We unpack:

    • Why Frios’ product was great, but the company was broken
    • How COVID forced a shift from brick-and-mortar to mobile trucks
    • The economics of a mobile dessert franchise (events, wholesale, and B2B)
    • Why Cliff walked away from a massive CPG opportunity after taking a big swing
    • How Frios scaled with limited capital, grit, and relentless focus on franchisee success

    This is a raw, honest look at entrepreneurship: the wins, the near-misses, and the decisions that define long-term success.

    If you’re interested in franchising, consumer brands, or building a business around real-world experiences, this episode is for you.

    GET IN TOUCH:

    Interested in buying a franchise? https://www.empirespod.com/buy-a-franchise

    Are you a multi-unit franchise owner considering selling your business? https://www.fdcapitalgroup.com/

    Partnership Opportunities

    https://www.empirespod.com/about#about-footer

    🧠 Key Topics / Takeaways
    • Franchisee → Franchisor transitions
    • Mobile vs brick-and-mortar business models
    • Franchise economics without item 19 hype
    • Manufacturing + franchising under one roof
    • Why focus beats chasing every growth opportunity

    Building a business that prioritizes lifestyle + happiness

    Show More Show Less
    1 hr and 5 mins
  • The Ex-Private Equity Analysts Building a Meineke Empire (25+ locations)
    Jan 6 2026
    Get in Contact

    For multi-unit owners looking to sell their business: https://www.fdcapitalgroup.com/

    Interested in buying a franchise? https://www.frandawgs.com/buy-a-franchise

    Get in touch with the host: https://www.linkedin.com/in/patrick-buckley-%F0%9F%8C%AD-89539499/

    Get in touch with Jack and Jake:

    https://www.linkedin.com/in/jack-foster-098030a8/

    https://www.linkedin.com/in/jake-mclaughlin-8a67a4126/

    Description

    Jack Foster and Jake McLaughlin left careers in investment banking and private equity to build one of the fastest-growing Meineke platforms in the country.

    In this episode, we break down:

    • Why they chose Meineke and auto repair over flashier franchises
    • The real unit economics and margins of a Meineke location
    • How they scaled from 3 stores to 25 through small, disciplined acquisitions
    • Why people, culture, and operator excellence mattered more than financial engineering
    • What they’re building next beyond Meineke

    This is a rare, transparent look at what it actually takes to scale a blue-collar, brick-and-mortar business.

    Timestamps

    00:00 – Leaving investment banking & private equity for entrepreneurship 02:40 – How prepared were they really to own franchise locations 05:00 – Why they chose partnership instead of going solo 08:10 – Why franchising (and why auto services specifically) 10:20 – Why Meineke stood out vs other auto concepts 11:05 – Meineke unit economics & margins breakdown 13:45 – Why these margins surprised most people 15:00 – How they sourced their very first Meineke acquisition 17:40 – Paying cash vs SBA financing for early deals 18:55 – What makes a Meineke location a “deal killer” 21:00 – The importance of car count & rent discipline 23:10 – Hiring a COO who changed everything 26:00 – Why they moved into their markets after acquisitions 29:30 – Scaling from 5 to 25 locations without breaking operations 32:00 – Buying single stores vs large portfolios 35:10 – How relationships drive their acquisition pipeline 37:30 – What Jack & Jake actually work on day-to-day 40:00 – Are they enjoying the journey? (honest answer) 42:30 – Exit strategy and long-term vision 44:00 – What’s next beyond Meineke

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    48 mins
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