One way to build the value of your brand - and your business - is to own the vocabulary used to describe it: Maple Street had created a durable competitive advantage because of its brand, which was defined by Moore’s careful choice of words. With Cracker’s Barrel’s resources, Holler & Dash could have invested more money at the biscuit business, but they realized what Maple Street had created was more than just hawking biscuits and building an equal brand would take longer than if they just bought the company. It was called Holler & Dash but when executives at Cracker Barrel saw the Strength of the Maple Street brand, they knew they could be better together.īig companies buy smaller ones when they realize that it would cost too much, or take too long to compete or they see an opportunity for growth. To fund the growth, he put his house up as collateral on a bank loan and personally signed a guarantee that, had Moore failed, would have left him penniless.Īs it turns out, the gamble paid off when the restaurant chain Cracker Barrel acquired Maple Street in November 2019 for $36 million in an all-cash transaction.Ĭracker Barrel didn’t just buy a biscuit company. Emboldened by their early results, Moore wrote a business plan for a massive expansion, which called for building 25 locations across the southeastern United States in just 18 months. Moore invested a chunk of his life savings in the first restaurant, and it was a success. To read a transcript of this episode, click here. They called it The Maple Street Biscuit Company and offered what they refer to as “comfort food with a modern twist.” When Scott Moore’s job as a VP at Winn-Dixie was eliminated in 2012, he decided to start a restaurant with his friend Gus Evans in Jacksonville, Florida.
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