Jim Flaum, a self-described cowboy who loves challenges as much as horses, is knee-deep trying to rebuild sales for ice-cream franchiser Cold Stone Creamery. And he’s happy to do it.
Flaum, 53, returned to Cold Stone in July after a two-year absence, taking on the roles of president and chief operating officer for the Scottsdale, Ariz., company. He inherited an ice-cream chain with nearly 1,400 stores, including three in the Louisville area. He must figure out how to deal with a second year of lower sales and complaints that the company focused too much on growth and not on profits.
“I wasn’t reluctant at all,” Flaum said of the move. “How can you not be excited about selling ice cream?”
Flaum, then an executive vice president, left in 2004 to develop restaurants of his own. He has three. But with his grown children managing his restaurants, he found himself drawn back to Cold Stone by the prospect of further building the business and for a little fun.
Flaum believes Cold Stone’s success lies with its people and products. He is focusing on the franchisee selection, skill-building for employees beyond scooping ice cream, product innovations aimed at younger customers and plain vanilla marketing.
It’s early, but Flaum expects sales and profits to turn around.
“I believe we have the programs in place to make it happen,” Flaum said.
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