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Franchise Euphoria: Franchise Insights | Entrepreneurial Coaching | Business Training | Legal and Financial Strategy - By Josh Brown: Business Lawyer 12th May 2020
Acquiring and Repositioning an Existing Franchise Brand for Success with Michael Mohammed of Chronic Tacos
00:00:00 00:27:30

Acquiring and Repositioning an Existing Franchise Brand for Success with Michael Mohammed of Chronic Tacos

Michael Mohammed is the Chief Executive Officer and President at Chronic Tacos Enterprises, Inc., where he oversees the strategic vision of the fast-casual Mexican restaurant brand. Originally from Vancouver, Canada, Michael attended Saint Martin’s University in Washington State, where he earned a Bachelors of Business Administration and a Masters of Business Administration. Michael and his three brothers first became affiliated with Chronic Tacos in 2010 when they helped finance the chain’s expansion into Canada. After seeing the potential that the brand had for growth, they decided to take over the entire franchise in 2012 and haven’t looked back since.

Key Takeaways:

[0:18] Today’s episode of Franchise Euphoria is brought to you by IndyFranchiseLaw.com, a leading resource in the franchise space. Head over to IndyFranchiseLaw.com learn more!

[0:59] Josh introduces today’s guest, Michael Mohammed, the President and CEO of Chronic Tacos.

[2:31] Josh welcomes Michael to Franchise Euphoria.

[2:58] Michael starts off by sharing his business upbringing and what led him to join up with Chronic Tacos in 2012.

[5:58] Michael shares what it was like to acquire an existing franchise system and the difficult decisions they had to make early on.

[10:47] When they decided to halt their franchise expansion initially, the franchisees seemed to understand that it was the best decision for the long term strategy.

[12:01] Chronic Tacos restarted their franchising efforts in 2015 and has since expanded to 60 locations.

[15:38] The timing of when Michael joined the restaurant industry was challenging due to the recent recession, but he has found his stride and thoroughly enjoys it.

[18:32] Michael shares what they are doing for the Chronic Tacos system to continue to thrive amidst COVID-19.

[23:52] Josh shares that many of his clients in the restaurant industry are frustrated with third party delivery services, and Michael remarks that restaurants and these services need to find a better way to work together.

[25:41] If you want to learn more about Chronic Tacos, visit their website listed below.

[26:36] Thanks for listening, and please, reach out to Josh anytime through email at josh@franchiseeuphoria.com. If you enjoyed this interview, please leave us a review on iTunes.

Mentioned in This Episode:

josh@franchiseeuphoria.com

www.franchiseeuphoria.com

www.indyfranchiselaw.com

www.eatchronictacos.com

www.facebook.com/EatChronicTacos

www.twitter.com/EatChronicTacos