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Bed Bath & Beyond's Franchise Fiasco | Fast Five Shorts · Omni Talk Retail

• 0:00
  Bed
• 0:00
  Bath
• 0:00
  and
• 0:00
  Beyond
• 0:01
  plans
• 0:01
  to
• 0:01
  launch
• 0:01
  a
• 0:02
  nationwide
• 0:02
  franchise
• 0:03
  system,
• 0:03
  according
• 0:03
  to
• 0:04
  Chain
• 0:04
  Storage.
• 0:04
  The
• 0:04
  company,
• 0:05
  which
• 0:05
  also
• 0:05
  owns
• 0:06
  Overstock,
• 0:06
  Bye
• 0:06
  Bye
• 0:07
  Baby
• 0:07
  and
• 0:08
  a
• 0:08
  blockchain
• 0:09
  asset
• 0:09
  portfolio,
• 0:10
  said
• 0:10
  it
• 0:10
  plans
• 0:10
  to
• 0:11
  launch
• 0:11
  a
• 0:11
  national
• 0:11
  franchise
• 0:12
  system
• 0:12
  that
• 0:13
  will
• 0:13
  allow
• 0:13
  Bed,
• 0:14
  Bath
• 0:14
  and
• 0:14
  Beyond
• 0:14
  to
• 0:15
  operate
• 0:15
  a
• 0:15
  smaller
• 0:15
  footprint
• 0:16
  of
• 0:16
  corporate
• 0:16
  stores
• 0:17
  nationwide
• 0:18
  along
• 0:19
  with
• 0:19
  a
• 0:19
  complementary
• 0:20
  franchise
• 0:21
  network.
• 0:22
  Franchise
• 0:22
  documentation
• 0:23
  is
• 0:23
  expected
• 0:24
  to
• 0:24
  be
• 0:24
  finalized
• 0:24
  within
• 0:25
  the
• 0:25
  next
• 0:25
  six
• 0:25
  months
• 0:26
  and
• 0:26
  franchise
• 0:26
  locations
• 0:27
  will
• 0:27
  feature
• 0:27
  turnkey
• 0:28
  formats
• 0:29
  of
• 0:29
  a
• 0:29
  traditional
• 0:30
  Bed,
• 0:30
  Bath
• 0:30
  and
• 0:30
  Beyond,
• 0:31
  including
• 0:31
  home
• 0:31
  kitchen,
• 0:32
  living
• 0:32
  storage
• 0:33
  and
• 0:33
  organization,
• 0:34
  and
• 0:34
  a
• 0:35
  holiday
• 0:35
  shop,
• 0:36
  all
• 0:36
  designed
• 0:36
  with
• 0:37
  a
• 0:37
  neighborhood
• 0:37
  feel.
• 0:38
  Chris,
• 0:39
  would
• 0:39
  you
• 0:39
  advise
• 0:40
  people
• 0:40
  to
• 0:40
  rush
• 0:41
  out
• 0:41
  and
• 0:41
  invest
• 0:42
  in
• 0:42
  opening
• 0:42
  a
• 0:42
  Bed,
• 0:43
  Bath
• 0:43
  and
• 0:43
  Beyond
• 0:43
  franchise
• 0:44
  store?
• 0:46
  Candidly
• 0:46
  and
• 0:47
  no.
• 0:48
  I
• 0:48
  think,
• 0:49
  I
• 0:49
  think
• 0:49
  this
• 0:50
  is
• 0:50
  the
• 0:50
  single.
• 0:50
  I'm
• 0:50
  going
• 0:50
  to,
• 0:51
  I'm
• 0:51
  going
• 0:51
  to
• 0:51
  go,
• 0:52
  I'm
• 0:52
  going
• 0:52
  to
• 0:52
  go
• 0:52
  on
• 0:52
  a
• 0:52
  massive
• 0:53
  rant
• 0:53
  here.
• 0:53
  I
• 0:53
  think
• 0:53
  this
• 0:54
  is
• 0:54
  the
• 0:54
  single
• 0:55
  dumbest
• 0:55
  idea
• 0:55
  I've
• 0:56
  ever
• 0:56
  heard
• 0:56
  of
• 0:56
  in
• 0:57
  the
• 0:57
  history
• 0:57
  of
• 0:57
  this
• 0:58
  show,
• 0:58
  of
• 0:58
  eight
• 0:59
  years
• 0:59
  of
• 0:59
  doing
• 0:59
  this
• 0:59
  show,
• 0:59
  I
• 1:00
  think
• 1:00
  this
• 1:00
  is
• 1:00
  the
• 1:00
  single
• 1:01
  dumbest
• 1:01
  idea
• 1:02
  I've
• 1:02
  ever
• 1:02
  heard
• 1:02
  of.
• 1:03
  Buyer
• 1:04
  beware,
• 1:04
  folks.
• 1:04
  That's
• 1:04
  all
• 1:05
  I've
• 1:05
  got
• 1:05
  to
• 1:05
  say.
• 1:05
  I
• 1:05
  wouldn't
• 1:05
  touch
• 1:06
  a
• 1:06
  Bed
• 1:06
  Bath
• 1:07
  and
• 1:07
  Beyond
• 1:07
  franchise
• 1:08
  and
• 1:08
  with
• 1:08
  a
• 1:09
  10
• 1:09
  foot
• 1:09
  pole
• 1:09
  for
• 1:10
  all
• 1:10
  the
• 1:10
  reasons
• 1:11
  I
• 1:11
  feel
• 1:11
  like
• 1:11
  for,
• 1:11
  if
• 1:11
  you've
• 1:12
  been
• 1:12
  with
• 1:12
  us
• 1:12
  for
• 1:12
  a
• 1:12
  long
• 1:13
  time,
• 1:13
  for
• 1:13
  all
• 1:13
  the
• 1:13
  reasons
• 1:14
  we've
• 1:14
  talked
• 1:14
  about
• 1:14
  ad
• 1:15
  nauseum,
• 1:15
  you
• 1:15
  know,
• 1:15
  I
• 1:15
  mean,
• 1:16
  Bed
• 1:16
  Bath
• 1:16
  and
• 1:16
  Beyond
• 1:17
  just
• 1:17
  went
• 1:17
  bankrupt,
• 1:18
  for
• 1:18
  crying
• 1:18
  out
• 1:18
  loud.
• 1:19
  I
• 1:19
  can't
• 1:19
  even
• 1:19
  believe
• 1:19
  this
• 1:20
  is
• 1:20
  an
• 1:20
  actual
• 1:20
  story
• 1:21
  when
• 1:21
  I
• 1:21
  get
• 1:21
  down
• 1:22
  to
• 1:22
  things.
• 1:22
  So,
• 1:22
  like,
• 1:23
  what
• 1:23
  evidence
• 1:23
  is
• 1:24
  there
• 1:25
  that
• 1:25
  the
• 1:25
  leadership
• 1:25
  at
• 1:26
  Bed
• 1:26
  Bath
• 1:26
  and
• 1:26
  Beyond
• 1:27
  knows
• 1:27
  how
• 1:27
  to
• 1:27
  rinse
• 1:28
  and
• 1:28
  repeat
• 1:28
  a
• 1:29
  going
• 1:29
  concern,
• 1:29
  Home
• 1:30
  furnishings,
• 1:30
  retail
• 1:31
  operation.
• 1:32
  There's
• 1:32
  zero
• 1:33
  evidence
• 1:33
  of
• 1:33
  that,
• 1:33
  people.
• 1:34
  The
• 1:34
  space
• 1:35
  is
• 1:35
  just
• 1:35
  too
• 1:35
  competitive.
• 1:36
  And
• 1:36
  the
• 1:37
  reason
• 1:37
  Bed
• 1:37
  Bath
• 1:37
  and
• 1:37
  Beyond
• 1:38
  went
• 1:38
  bankrupt,
• 1:38
  for
• 1:38
  those
• 1:39
  that
• 1:39
  may
• 1:39
  not
• 1:39
  remember,
• 1:39
  but
• 1:39
  I'm
• 1:40
  sure
• 1:40
  you
• 1:40
  do
• 1:40
  because
• 1:40
  it
• 1:40
  just
• 1:41
  happened,
• 1:42
  is
• 1:42
  because
• 1:42
  it
• 1:42
  doesn't
• 1:43
  have
• 1:43
  a
• 1:43
  reason
• 1:43
  for
• 1:43
  being
• 1:44
  in
• 1:44
  the
• 1:44
  market.
• 1:44
  It's
• 1:45
  too
• 1:45
  competitive.
• 1:45
  So
• 1:45
  no.
• 1:46
  And
• 1:46
  I
• 1:46
  am
• 1:47
  selling
• 1:47
  this
• 1:47
  harder
• 1:48
  than
• 1:48
  a
• 1:48
  thousand
• 1:49
  thread
• 1:49
  count
• 1:49
  sheets.
• 1:50
  That's,
• 1:50
  that's,
• 1:50
  that's
• 1:50
  my
• 1:51
  take
• 1:51
  here.
• 1:52
  I
• 1:53
  was
• 1:53
  trying
• 1:53
  to
• 1:53
  find
• 1:54
  some
• 1:54
  purpose
• 1:55
  in
• 1:55
  this.
• 1:55
  I'm,
• 1:55
  I
• 1:56
  was
• 1:56
  trying
• 1:56
  to
• 1:56
  dig
• 1:57
  and
• 1:57
  it
• 1:57
  took
• 1:57
  me
• 1:57
  a
• 1:58
  lot.
• 1:58
  I
• 1:58
  was
• 1:58
  really,
• 1:59
  really
• 1:59
  stretching,
• 2:00
  trying
• 2:00
  to
• 2:00
  think
• 2:01
  like,
• 2:01
  is
• 2:01
  there
• 2:02
  like
• 2:02
  operational
• 2:03
  things?
• 2:03
  Like
• 2:03
  maybe
• 2:04
  if
• 2:04
  I'm
• 2:04
  an
• 2:04
  independent,
• 2:05
  you
• 2:05
  know,
• 2:06
  home
• 2:06
  furnishings
• 2:07
  bedding
• 2:08
  retailer
• 2:09
  in
• 2:09
  a
• 2:09
  small
• 2:09
  town,
• 2:10
  like
• 2:10
  this
• 2:10
  gives
• 2:11
  me
• 2:11
  access
• 2:11
  to
• 2:13
  point
• 2:13
  of
• 2:13
  sale
• 2:13
  system.
• 2:14
  It
• 2:14
  gives
• 2:14
  me
• 2:14
  access
• 2:15
  to
• 2:15
  maybe
• 2:16
  a
• 2:16
  marketplace
• 2:16
  play
• 2:17
  down
• 2:17
  the
• 2:17
  road,
• 2:17
  I
• 2:17
  don't
• 2:18
  know.
• 2:18
  However,
• 2:19
  then
• 2:19
  I'm
• 2:19
  like,
• 2:20
  there's
• 2:20
  Shopify,
• 2:20
  like
• 2:21
  there's
• 2:21
  A
• 2:21
  lot
• 2:21
  of
• 2:21
  other
• 2:22
  ways
• 2:22
  that
• 2:22
  as
• 2:22
  a
• 2:23
  retailer,
• 2:23
  as
• 2:23
  an
• 2:24
  independent
• 2:24
  retailer
• 2:24
  right
• 2:25
  now,
• 2:25
  I'm
• 2:25
  set
• 2:25
  up
• 2:25
  to
• 2:26
  succeed.
• 2:27
  And
• 2:27
  then
• 2:27
  I
• 2:27
  think
• 2:27
  about
• 2:28
  again,
• 2:29
  like,
• 2:29
  how
• 2:29
  much
• 2:29
  search
• 2:30
  with
• 2:30
  a
• 2:31
  large
• 2:31
  language
• 2:32
  model
• 2:32
  is
• 2:32
  going
• 2:33
  to
• 2:33
  impact
• 2:33
  where
• 2:33
  people
• 2:34
  are
• 2:34
  shopping.
• 2:34
  And
• 2:35
  do
• 2:35
  you
• 2:35
  still
• 2:35
  need
• 2:36
  a
• 2:36
  Bed
• 2:36
  Bath
• 2:36
  and
• 2:36
  Beyond
• 2:37
  platform
• 2:37
  to
• 2:38
  like,
• 2:38
  help
• 2:38
  you
• 2:38
  show
• 2:39
  up
• 2:39
  better
• 2:39
  in
• 2:39
  search
• 2:39
  results?
• 2:40
  I
• 2:40
  don't
• 2:41
  think
• 2:41
  that
• 2:41
  is
• 2:41
  the
• 2:41
  case.
• 2:42
  I
• 2:42
  think
• 2:42
  like
• 2:43
  there's
• 2:43
  other
• 2:44
  platforms
• 2:44
  that
• 2:44
  are
• 2:45
  much
• 2:45
  more
• 2:45
  accessible
• 2:46
  to
• 2:47
  independent
• 2:47
  retailers
• 2:48
  to
• 2:48
  help
• 2:48
  them
• 2:48
  be
• 2:49
  successful,
• 2:49
  especially
• 2:50
  from
• 2:50
  a
• 2:50
  technology
• 2:51
  standpoint,
• 2:52
  than
• 2:52
  buying
• 2:53
  a
• 2:53
  franchise
• 2:54
  on
• 2:54
  top
• 2:54
  of
• 2:54
  all
• 2:54
  of
• 2:55
  that.
• 2:55
  So
• 2:55
  I,
• 2:56
  I,
• 2:56
  I
• 2:56
  don't
• 2:57
  understand
• 2:57
  Bed,
• 2:57
  Bath
• 2:58
  and
• 2:58
  Beyond.
• 2:58
  I'm
• 2:59
  really
• 2:59
  curious
• 2:59
  to
• 3:00
  see
• 3:00
  what
• 3:00
  kind
• 3:00
  of
• 3:01
  adoption
• 3:01
  they
• 3:01
  get
• 3:01
  and
• 3:02
  who
• 3:02
  those
• 3:02
  retailers
• 3:03
  are.
• 3:03
  So
• 3:03
  that's
• 3:03
  what
• 3:03
  I'm
• 3:04
  going
• 3:04
  to
• 3:04
  be
• 3:04
  watching.
• 3:04
  Like
• 3:04
  who,
• 3:05
  who
• 3:05
  makes
• 3:05
  this
• 3:06
  move
• 3:06
  and
• 3:06
  decides
• 3:07
  to
• 3:07
  do
• 3:07
  this
• 3:09
  and
• 3:09
  why?
• 3:09
  Like
• 3:10
  what,
• 3:10
  what
• 3:11
  benefit
• 3:11
  are
• 3:11
  they
• 3:11
  getting
• 3:12
  from
• 3:12
  it?
• 3:13
  Yeah,
• 3:13
  you're
• 3:14
  just
• 3:14
  throwing
• 3:14
  your
• 3:14
  money
• 3:14
  away,
• 3:14
  in
• 3:15
  my
• 3:15
  opinion.
• 3:15
  So
• 3:15
  I'm
• 3:16
  curious.
• 3:16
  And
• 3:16
  before
• 3:16
  we
• 3:17
  move
• 3:17
  on,
• 3:17
  like
• 3:18
  in
• 3:18
  the
• 3:18
  history
• 3:18
  of
• 3:18
  bad
• 3:19
  ideas
• 3:19
  of
• 3:19
  the
• 3:19
  show
• 3:20
  for
• 3:21
  you,
• 3:21
  is
• 3:21
  this
• 3:21
  like
• 3:22
  top
• 3:22
  10%
• 3:23
  of
• 3:23
  all
• 3:23
  time
• 3:24
  bad
• 3:24
  ideas
• 3:24
  on
• 3:24
  the
• 3:24
  show,
• 3:25
  you
• 3:26
  know,
• 3:26
  in
• 3:26
  the
• 3:26
  middle
• 3:27
  of
• 3:27
  the
• 3:27
  bell
• 3:27
  curve,
• 3:28
  like,
• 3:28
  am
• 3:28
  I
• 3:29
  over
• 3:29
  exaggerating
• 3:29
  it
• 3:30
  or
• 3:30
  are
• 3:30
  you
• 3:30
  kind
• 3:30
  of
• 3:30
  on
• 3:30
  the
• 3:30
  same
• 3:31
  page
• 3:31
  as
• 3:31
  me?
• 3:32
  I
• 3:32
  mean,
• 3:32
  people
• 3:32
  are
• 3:33
  going
• 3:33
  to
• 3:33
  do
• 3:33
  it.
• 3:33
  So
• 3:34
  that's
• 3:34
  what,
• 3:34
  that's
• 3:34
  again
• 3:35
  why
• 3:35
  I
• 3:35
  said,
• 3:36
  I
• 3:36
  mean,
• 3:37
  they
• 3:37
  wouldn't
• 3:37
  be
• 3:37
  doing
• 3:38
  this
• 3:38
  if
• 3:38
  they
• 3:38
  didn't
• 3:38
  have
• 3:39
  a
• 3:39
  few
• 3:39
  fish
• 3:40
  on
• 3:40
  the
• 3:40
  line.
• 3:40
  Like,
• 3:41
  I
• 3:41
  think,
• 3:41
  I
• 3:41
  think
• 3:42
  that
• 3:42
  that's,
• 3:43
  that's
• 3:43
  why
• 3:43
  I
• 3:44
  said
• 3:44
  like
• 3:44
  that
• 3:45
  to
• 3:45
  me
• 3:45
  doesn't
• 3:45
  make
• 3:46
  sense
• 3:46
  as
• 3:46
  an
• 3:46
  independent
• 3:47
  business
• 3:47
  owner
• 3:48
  who
• 3:48
  has
• 3:48
  franchise
• 3:50
  something,
• 3:50
  like,
• 3:50
  I
• 3:50
  would
• 3:51
  not
• 3:51
  be
• 3:51
  buying
• 3:51
  this,
• 3:51
  I
• 3:52
  would
• 3:52
  not
• 3:52
  be
• 3:52
  investing
• 3:52
  in
• 3:52
  it
• 3:53
  because
• 3:53
  there's
• 3:53
  not
• 3:53
  enough
• 3:53
  return.
• 3:54
  But
• 3:55
  some
• 3:55
  people
• 3:55
  are
• 3:55
  going
• 3:56
  to.
• 3:56
  And
• 3:56
  that's
• 3:56
  what
• 3:57
  I
• 3:57
  want
• 3:57
  to
• 3:57
  focus
• 3:57
  on.
• 3:58
  Why
• 3:58
  and
• 3:58
  what
• 3:59
  benefit
• 3:59
  do
• 3:59
  you
• 3:59
  see
• 4:00
  this
• 4:00
  is
• 4:00
  going
• 4:00
  to
• 4:00
  bring
• 4:00
  you?
• 4:01
  Yeah,
• 4:02
  I
• 4:02
  don't
• 4:02
  know.
• 4:03
  I'm
• 4:03
  super
• 4:03
  skeptical
• 4:03
  that
• 4:04
  anyone's
• 4:04
  going
• 4:04
  to
• 4:04
  buy
• 4:04
  into
• 4:04
  this.
• 4:05
  At
• 4:05
  least
• 4:05
  I
• 4:05
  hope
• 4:05
  not.
• 4:05
  But
• 4:06
  anyway.
• 4:06
  But
• 4:07
  you
• 4:07
  know
• 4:07
  the
• 4:07
  guy,
• 4:07
  the
• 4:07
  guy
• 4:08
  running
• 4:08
  Bed
• 4:08
  Bath
• 4:08
  and
• 4:08
  Beyond,
• 4:09
  he's
• 4:09
  a,
• 4:09
  he's
• 4:09
  a
• 4:10
  slick
• 4:10
  dealer
• 4:10
  for
• 4:10
  sure.