Five Minutes With Jeff Todd

Five Minutes With Jeff Todd

Global Franchises talks with the Group Director of Meineke’s Resale Department

Jeff Todd manages the resale department at Meineke Car Care Centers. The group is focused on assisting investors interested in diversifying their portfolios through acquiring existing Meineke locations. Jeff’s team focuses on educating both buyers and sellers. Before purchasing a location, buyers are given the information they need to understand the industry, what Meineke stands for as a company, and the appropriate steps to take while transacting. Meanwhile, franchisees selling their current locations are taught about market valuation of their businesses and factors that help increase that value.

What was your route into franchising?

My path to franchising and to the aftermarket industry was unique. I worked originally as an investment banker assisting private equity firms with leverage buyouts, eventually transitioning to an advisory role for mergers and acquisitions. This experience gave me the ability to understand an industry, business valuations within it and how to successfully complete a transaction. Eventually, I decided I wanted a better work-life balance and began investigating how to transition my skills into another industry. After meeting with the executive team of Driven Brands/Meineke, I was convinced it was the company to take me to the next phase in my career.

Why automotive franchising?

The automotive industry has begun its own transformation, and the era of independent centers with low transparency is dead. Instead, the market is shifting toward market consolidators that control multiple verticals – repair and maintenance, paint and collision, quick lube and distribution, to name a few. These types of consolidators have economies of scale and access to enormous amounts of data. For me, joining Meineke, one of the largest consolidators, and being a part of that industry transformation has been an amazing experience.

What affords you the most satisfaction about your work?

Helping our clients is how we measure our success, and what gives me the most satisfaction. Whether that means assisting a franchisee’s retirement through selling a business or managing a transaction for investors as they grow their platform, I truly believe we create value. Every day I get to work with a diverse group of franchisees as we continue to drive their growth. Each transaction is unique, and there is never a dull moment. I feel very fortunate to have been able to create a department that has a positive impact on the lives of so many individuals.

What aspect of your work offers the greatest challenges?

When it comes to buying or selling a business, it’s more than just the numbers; there is often a great deal of emotion involved. The seller has worked to build the enterprise and is proud of his/her accomplishments (as he/she should be) but this can often lead to overvaluation. Meanwhile, buyers often have preconceived notions about valuations that at times can be far off market. Managing the expectations of both parties through education and taking the necessary steps for a successful transaction where both parties reach a win/win situation is the greatest challenge.

How do you think other people would describe you?

Fortunately, Driven Brands invests heavily in its employees and I have had several 360 reviews, so I have a good idea of how I am described. The pillars of who I am and how I conduct myself are based on integrity, relentless pursuit of goals, being present in the moment and enjoying life to the fullest. I definitely have areas of improvement – in general, I can have a narrow focus on the task a hand and be quick to pass judgment – and while at times these can be strengths, I definitely work to bring a broader approach to my work when I can.

What’s the next step in your career?

As 2019 is the final year of our three-year project systemizing our transaction process and assisting with the baby boomer generation’s transition, I have begun seriously considering this question. My current role has allowed me to have a direct impact on many departments within our company, from operations to marketing to accounting. Given the versatility of my current role, I’ll be looking to continue down a path that requires me to wear many hats and fully own my work product.

If you had to start over, what would you do differently?

Switching from finance to franchising, I sometimes overlooked the importance of relationships, whether that was with broker groups, finance partners or even with other franchisors. As I’ve spent more time in the industry, relationships are clearly the most important aspect and I spend a considerable amount of time developing my network. If I could start over, I would have spent more time on this from the day I transitioned into franchising.

How do you relax?

I have a hard time checking out from work, mainly because I truly enjoy what I do for a living. I try to take two extended breaks a year. Typically, one will be related to the outdoors such as a backpacking trip and the other will be taking two weeks to see a new country and make unique friends. As I am writing this I am sitting in a café in Buenos Aires, while I travel for two weeks through Argentina, Chile and Uruguay.

Global Franchise Meets.

An inspirational new web video series where we meet the business leaders and influencers in International Franchising.

you may be interested in

franchise directory

  • TaxAssist Accountants

    Business & Professional Services, Financial Services, <100K, Featured

  • Cafe2U

    Food & Catering, Coffee, Take-away, <100K, Featured

  • 800 Pizza

    Food & Catering, Fastfood, Pizza, Take-away, Featured

view more
Connect with Linkedin Logo
Global White Logo Click Here
Close button

WHAT DO WE USE YOUR INFORMATION FOR?

Any of the information we collect from you may be used in one of the following ways: To personalize your experience (your information helps us to better respond to your individual needs) To improve our website (we continually strive to improve our website offerings based on the information and feedback we receive from you) To improve customer service (your information helps us to more effectively respond to your customer service requests and support needs) To process transactions your information, whether public or private, will not be sold, exchanged, transferred, or given to any other company for any reason whatsoever, without your consent, other than for the express purpose of delivering the purchased product or service requested. To administer a contest, promotion, survey or other site feature To send periodic emails The email address you provide for order processing, will only be used to send you information and updates pertaining to your order. Note: If at any time you would like to unsubscribe from receiving future emails, we include detailed unsubscribe instructions at the bottom of each email.

HOW DO WE PROTECT YOUR INFORMATION?

We implement a variety of security measures to maintain the safety of your personal information when you place an order or enter, submit, or access your personal information We offer the use of a secure server. All supplied sensitive/credit information is transmitted via Secure Socket Layer (SSL) technology and then encrypted into our Payment gateway providers database only to be accessible by those authorized with special access rights to such systems, and are required to keep the information confidential. After a transaction, your private information (credit cards, social security numbers, financials, etc.) will not be stored on our servers.

DO WE USE COOKIES?

Yes (Cookies are small files that a site or its service provider transfers to your computers hard drive through your Web browser (if you allow) that enables the sites or service providers systems to recognize your browser and capture and remember certain information. We use cookies to help us remember and process the items in your shopping cart, understand and save your preferences for future visits, keep track of advertisements and compile aggregate data about site traffic and site interaction so that we can offer better site experiences and tools in the future. We may contract with third-party service providers to assist us in better understanding our site visitors. These service providers are not permitted to use the information collected on our behalf except to help us conduct and improve our business.

DO WE DISCLOSE ANY INFORMATION TO OUTSIDE PARTIES?

We do not sell, trade, or otherwise transfer to outside parties your personally identifiable information. This does not include trusted third parties who assist us in operating our website, conducting our business, or servicing you, so long as those parties agree to keep this information confidential. We may also release your information when we believe release is appropriate to comply with the law, enforce our site policies, or protect ours or others rights, property, or safety. However, non-personally identifiable visitor information may be provided to other parties for marketing, advertising, or other uses.

THIRD PARTY LINKS

Occasionally, at our discretion, we may include or offer third party products or services on our website. These third party sites have separate and independent privacy policies. We therefore have no responsibility or liability for the content and activities of these linked sites. Nonetheless, we seek to protect the integrity of our site and welcome any feedback about these sites.

CHILDRENS ONLINE PRIVACY PROTECTION ACT COMPLIANCE

We are in compliance with the requirements of COPPA (Childrens Online Privacy Protection Act), we do not collect any information from anyone under 13 years of age. Our website, products and services are all directed to people who are at least 13 years old or older.

ONLINE PRIVACY POLICY ONLY

This online privacy policy applies only to information collected through our website and not to information collected offline.

TERMS AND CONDITIONS

Please also visit our Terms and Conditions section establishing the use, disclaimers, and limitations of liability governing the use of our website at globalfranchisemagazine.com/terms-conditions

YOUR CONSENT

By using our site, you consent to our online privacy policy.

CHANGES TO OUR PRIVACY POLICY

If we decide to change our privacy policy, we will post those changes on this page

CONTACTING US

If there are any questions regarding this privacy policy you may contact us using the information below. All correspondence relating to the Website should be sent to: Global Franchise 21/23 Phoenix Court Hawkins Road Colchester Essex CO2 8JY Email: subscriptions@aceville.co.uk