Episode 102: Lance Vaught with Penn Station East Coast Subs

Penn Station East Coast Subs celebrates its 40th anniversary this year! Lance Vaught joined founder Jeffrey Osterfeld in 2002 as a franchise adviser charged with improving unit performance. “I really connected with the challenges and concerns of small business operators and saw our franchisees more as brand ambassadors," Lance tells us. What started in 1985 as a small bagel shop and delicatessen in Dayton Ohio has grown into a 320-unit group of businesses located in 14 states.

"I like to think our continued success and growth is due to the respect we show our guests and franchisees every day," says Vaught. Penn Station East Coast Subs demonstrates its respect for its guests by its commitment to value. Lance explains “A value experience is offering really good quality, consistently served by a friendly staff at a reasonable price.” Penn Station values its large group of franchisees and demonstrates that by respecting their return on investment (ROI). "We continue to review the capital investment requirements and work tirelessly to improve our franchisee’s unit profit, says Vaught. 

In this episode, we learn how to properly structure a franchise advisory council (FAC) and how engaging with the Penn Station FAC has led to improvements in concept size and efficiency, purveyor selection and marketing as well as the integration of technology. The menu has grown slightly from the original four sandwiches, hand-cut french fries and freshly made lemonade to include salads, wraps and specials….but ownership's commitment to a valuable experience remains the same. 

“Our franchisees are carefully selected," Lance tells us, "we take our time to be certain they are compatible with our vision and values...after all, we aren't building a business, but growing a family of brand ambassadors!"