Ever since Raj and Nidhi joined the COBS Bread network when they purchased COBS Bread Upper Oakville, they have been an inspiring team. When they expressed interest in becoming multi-site owners, we knew it would only be a matter of time before they purchase their next bakery.
This month, Raj and Nidhi purchased COBS Bread Humbertown, which was also an existing COBS Bread bakery. (COBS Bread Upper Oakville had also been open several years when they purchased it.)
We took a few minutes to talk to Raj about why he decided to COBS Bread Humbertown.
Why did you decide on existing rather than new?
Straight up answer – I love taking calculated risks. There is risk in everything, but I would rather know the devil than not. Taking over an existing team is challenging and mold them into your vision is a challenge that I love. It’s an opportunity to breathe new life into a team and remotivate them!
What is the first thing you will do during the first month of owning the Humbertown bakery?
I plan to meet every employee, one on one, and get to know my people. I believe the most critical success factors in the business are: people, people, and people which translates into employees, customers and community.
I will also spend time on the sales floor to understand the full operations picture, and learn how things have been run historically at Humbertown to identifiy opportunities and improve efficiencies.
Is there anything in particular that made you feel ready to buy your second bakery?
Yes- I know I needed a new challenge! Upper Oakville was operating smoothly at a great pace, so I felt it was a good time for me to take on another project.
Another great thing about this, is that it creates a huge opportunity to promote people. When you buy a new bakery, there’s a cascading effect of moving people around into new roles. I get to help people and promote them! People get to see their careers improving. I even have some people who have expressed interest in owning their own bakery one day, so this is a great opportunity for the,
What advice to you have for franchisees who are considering opening another bakery, but are not quite ready?
My advice is, if you have this thought, then you could be ready, “Oh, the bakery is running so well without me!”
If you haven’t yet had that thought, here are some things to spend time working on:
- Have you optimized the bakery from a cost efficiency perspective? How is your productivity?
- And do have you succession planning in place. Don’t buy another bakery if your succession planning is not ready.
Thank you for taking the time, Raj, to share your insights with us!