Hardware Podcasts

Five Guys: Jerry Murrell (2019)

How I Built This · 14 Jan 2019 · 37m

What this episode covers

Jerry Murrell, founder of Five Guys, explains how he pivoted from failed business ventures to opening a burger joint in 1986 with his four sons, using their college funds as seed capital. He details the company's early strategy of sourcing premium ingredients like peanut oil and specific potatoes from Idaho, and its unconventional financing model that relied on gross-revenue sharing from individual investors rather than traditional equity or bank loans. Murrell also discusses the reluctant transition to franchising, which was driven by his sons and a consultant, leading to rapid national expansion despite his initial fears about brand dilution and geographic reach.

Most relevant to

early-stage companies and companies scaling up

Topics

Mentioned

Companies
Five Guys, U.S. Bank, NPR, McDonald's, Wash. It. Later., QuickBooks, Kickstarter, Brenner's Bakery, Thrashers

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