BUS Mod 3 DB
This company was founded by actual cousins, Jim Tselikis and Sabin Lomac. Cousin’s brings premium Maine Lobster to diners across the country. Their focus is quality lobster, it has to be from Maine, the best quality and customer service has to be the warm friendly service you would get back east. They started with a food truck in Los Angeles, while neither cousin had any business experience, they did pick the brain of every businessperson they knew. When they opened their business, it took off and they learned they knew nothing about business and they were overwhelmed. With the help of an investor with more experience they are now in the franchise business and Cousins Maine Lobster is growing and doing better than ever.
Review the Cousins Maine Lobster Case in your textbook and/or video through the following link
https://tinyurl.com/kpftafk4 (opens in new window). Respond to the following questions in the discussion forum:
1. What are the cousins looking for in a franchisee?
2. What personal characteristics do you think helped Tselikis and Lomac succeed as entrepreneurs? What is the culture of Cousins Maine Lobster?
3. Why did they seek outside help to improve their business? What sort of help did they receive?
4. What could the cousins have done to be better prepared for the opening of their first food truck?
5. What are some of the advantages and disadvantages of expanding a business by franchising?