TCU business students Nate Meyer and Ty Vansteenburg took over an off-campus restaurant and now have big plans after graduation.
Nate Meyer and Ty Vansteenburg met at Texas Christian University and bonded over their Minnesota roots.
“Nate and I have been roommates for the last four years,” Vansteenburg said.
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The roommates are students at TCU's Neeley School of Business. Both come from a background of entrepreneurship.
“My dad has worked as a Jimmy John's franchisee up in Minnesota. So, at the age of 14, he put me to work,” Vansteenburg said. “I got a job part-time, just sitting on the line, pulling meats, doing the register, wrapping the sandwiches.”
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“My passion for business kind of stems from my grandfather. He had a company that he started from the ground up back in Minnesota,” Meyer said.
For Vansteenburg, franchising was always part of his plan. Neither said they imagined running a business before graduating with their business degree.
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Vansteenburg and Meyer registered for the Introduction to Franchising course at the TCU Neeley School of Business.
“Taking this franchising course, it kind of opened my eyes to the different opportunities in business,” Meyer said. “Franchising is a roadmap for success, it's a proven path to take, and that kind of encouraged me to take that next step.”
Entrepreneur, TCU alumnus, and adjunct professor Michael Browning taught the course.
Browning is the CEO and Founder of Unleashed Brands. His portfolio is focused on youth enrichment and includes Urban Air Adventure Parks, The Little Gym, Snapology, Premier Martial Arts, Sylvan Learning Centers, Class 101, XP League, and Water Wings Swim School.
The class, according to Browning, bridges traditional educational components with practical experience.
“We're gonna study the franchise disclosure document, operations… something that seems more like textbook-type stuff,” Browning said. “In my first semester (teaching), that was the year we acquired Sylvan Learning Centers. So, the students actually got the opportunity with me to evaluate Sylvan, how we're looking at it from a mergers and acquisitions perspective, how it will fit into the Unleash Brands platform and help us serve the over 20 million kids that we serve on an annual basis.”
Vansteenburg and Meyer were paired for a class project in Browning’s class.
“Michael had us take a Working Genius assessment,” Vansteenburg said.
The assessment is designed to help identify a person’s strengths for productivity and team dynamics.
“We paired very well with being partners,” Vansteenburg said.
The students were tasked with exploring a franchise owned and operated by small business owners.
“I had all of the students download a franchise disclosure document from any franchise in the country,” Browning said. “The students, many times, they don't even know that the businesses they interact with throughout their week, a lot of them are franchises.”
Intrigued by Vansteenburg’s father’s background, the classmates chose Jimmy John’s. They soon discovered a location near campus was going to close.
“Through the grapevine, we found out that they were no longer going to be extending their franchise agreement. I mean the opportunity was right there. We had a chance to take over the lease and keep it a Jimmy John’s and help feed the campus of TCU,” Meyer said. “That’s how the conversation came about.”
Browning, however, was surprised to learn his students were serious about opening a franchise while still in school.
“It was, like, this slow build throughout the semester,” Browning said.
This year, the co-owners celebrated the grand opening of their first franchise location.
“It was very surreal. Leading up to it, I was extremely nervous, especially managing school and work,” Vansteenburg said. “We did a $1 sub day. So, we had customers out the door for hours. And just the energy in the building and seeing everyone come in, familiar faces from my classes, seeing professors come in. It just really felt good. And it made me very happy with the decision that we made.”
Browning recently made a surprise visit to see the fruits of his students' hard work.
"I felt like a proud dad," Browning said. "Outside of being really smart, their grit and hustle set them apart. I mean, they're over there working shifts, as well as leading people. And then they have great soft skills, like they're great with people, great with customers, have great vision, and very positive."
The co-owners manage about 20 employees, their business, and classes just weeks ahead of graduation.
“Managing food and labor costs, management is something that we're very new to. And knowing your numbers is really important. And they really talk about that in the classroom, but it's different when they're your numbers,” Vansteenburg said.
“Aside from just grasping everything as a whole, the numbers, managing your people, (and) being a leader, the hiring and firing aspect is definitely a challenge or something that we're not used to, especially being in the role that we are in and how young we are,” Meyer said.
Meyer and Vansteenburg are set to graduate on May 10.
“I'm very excited to graduate and use everything I've learned these last four years to push us forward,” Vansteenburg said.
“I'm excited to be done, no offense, and kind of put 100% of my efforts into the business,” Meyer said.
Both said they are exploring opportunities to open additional franchises.
