00:04:34 · Charlie Morrison, S2, S0
[00:04:34] S1: Not at all. Not at all. [00:04:35] S2: At Jersey Mike's, we've been opening over the past few years at least 300 stores a year. We anticipate continuing that. And then the international footprint as we develop that. We're only in Canada today. We will be opening in the UK in the coming weeks and then more global markets ahead of us. So that type of growth, we're really well built for it. It doesn't put a strain on the business at all. [00:04:57] S0: Your average unit volume now is about $ 1. 4 million. You have a $ 2 million goal. That's a big gap between where you are now and where you want to go. How fast do you get to $ 2 million? [00:05:08] S1: We haven't put a time number on that. [00:05:09] S2: What we do know is we have a lot of experience with stores that are above $ 2 million already today in our system. We know what right looks like. Part of it is getting our franchise owners out and developing the market, building the catering business. Over time, we're going to build the brand around a digital marketing strategy that invites a broader consumer base in and increases the frequency. Today, we get a lot of sales from a fairly narrow group of customers that use us very frequently. We know there are a lot of people out there, generally younger customers, More diverse, spanning the spectrum of income, and we're attracting those customers into the brand. As we do, that'll build their frequency, and over time, that'll lead us to that $ 2 million average unit volume. [00:05:48] S0: Charlie, really great to have you here.
00:05:48 · S0, Charlie Morrison
[00:05:48] S0: Charlie, really great to have you here. [00:05:50] S1: Thanks for having me. Absolutely. [00:05:51] S0: Charlie Morrison, he's the CEO of Jersey Mike's, fresh off the company's earnings report.